India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
June 28 (Reuters) - Indian state-owned Mazagon Dock Shipbuilders (MAZG.NS), opens new tab said it would buy a controlling stake in Sri Lankan peer Colombo Dockyard (DOCK.CM), opens new tab in a deal not exceeding $52.96 million to grow its shipbuilding and repair business. The transaction, involving the acquisition of at least 51% equity in Colombo Dockyard, will close within six months, after which the Sri Lankan shipbuilder will become a part of Mazagon Dock Shipbuilders, according to a regulatory filing on Friday. Colombo Dockyard was not immediately available for comment outside business hours. Mazagon Dock Shipbuilders also builds warships and submarines, and the deal is seen giving India a strategic foothold in the Indian Ocean island nation where New Delhi and Beijing have been jostling for influence for years. For 2024, Colombo Dockyard's turnover was 25.45 billion Sri Lankan rupees ($84.89 million), according to the filing, while Mazagon Dock Shipbuilders' revenue for the year ended March 2025 was 114.32 billion Indian rupees ($1.34 billion). ($1 = 299.8000 Sri Lankan rupees) ($1 = 85.4400 Indian rupees) Reporting by Praveen Paramasivam in Chennai and Uditha Jayasinghe in Colombo; Editing by Sam Holmes Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Deals
In a regulatory filing on Thursday, the company stated that the NCLAT, through its order dated December 12, 2024, has "appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd." NBCC will oversee the completion of these projects, which include 49,748 housing units spread across Uttar Pradesh, Uttarakhand, Haryana, and Karnataka. The projects include Ecovillage-2, Romano, Capetown, Czar Suites, Eco-Village 3, Sports Village, and Eco-Citi ...Read More >
New Delhi, Dec 26 (PTI) The Metropolitan Stock Exchange of India (MSE) is set to raise Rs 238 crore from four entities including Billionbrains Garage Ventures, Groww's parent, and Zerodha's Rainmatter Investments in a bid to stay afloat. Others who invested in MSEI are -- BSE-listed Share India Securities, and Securocorp Securities India. The exchange's board in its meeting on Tuesday approved the issuance of 1.19 billion equity shares at Rs 2 per share, comprising Rs 1 face value and Rs 1 premium to these four investors through a private placement, according to a disclosure on MSEI's websit ...Read More >
MUMBAI (Reuters) -Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday. Jio Financial Services, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India. The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and inst ...Read More >
Mumbai, June 2 (SocialNews.XYZ) Shares of Piccadily Agro Industries Limited, the Haryana-based distillery best known for its award-winning 'Indri' single malt whisky, have nosedived more than 40 per cent so far this year. On Monday, the company's share price further dropped by 1.67 per cent, or Rs 9.70, during the intra-day trade, adding to the downward momentum. While the shares had shown some short-term recovery -- rising 1.82 per cent over the past five trading days and gaining 7.31 per cent over the last month -- the longer-term picture remains bleak. In the past six months, the stock h ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
New Delhi: State-owned Central Bank of India on Thursday said it acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June 4), the bank has ventured into the insurance sector, Central Bank of India said in a regulatory filing. At present, Central Bank of India has 25.28 per cent stake in FGILICL, which had earned a gross written premium of Rs 1,810.53 crore in FY24. The CCI has also approved a 25.18 per cent equity s ...Read More >
New Delhi, May 26 (PTI) Niti Aayog on Monday pitched for tailored financial tools, technology integration and a centralised digital portal to transform medium enterprises into future growth engines of India's economy. In a report titled 'Designing a Policy for Medium Enterprises', the Aayog highlighted the critical yet under-leveraged role played by medium enterprises and outlined targeted interventions to unlock their full potential. To address challenges faced by medium enterprises, it recommended the introduction of a working capital financing scheme linked to enterprise turnover, a Rs 5 ...Read More >
[MUMBAI] The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a third consecutive reduction, and slashed the reserve ratio for banks as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate to 5.50 per cent. It has now cut rates by 100 basis points in 2025, starting with a quarter-point reduction in February, its first cut since May 2020. It made a similar-sized cut in April. The RBI al ...Read More >
CHENNAI: Indian equity markets experienced a significant rally today, spurred by the Reserve Bank of India's (RBI) unexpected policy measures aimed at stimulating economic growth. The RBI slashed the key repo rate by 50 basis points and reduced the Cash Reserve Ratio (CRR) by 100 basis points, injecting approximately ₹2.5 lakh crore into the banking system. This aggressive easing, coupled with a shift in the RBI's policy stance from 'accommodative' to 'neutral', boosted investor sentiment across sectors. The apex bank's bold policy actions have injected liquidity and optimism into the markets ...Read More >
Smart India Hackathon 2024: The Smart India Hackathon 2024, designed to unite the nation's brightest young talent in solving real-world problems presented by major government ministries, is scheduled to take place from December 11 to 15. This is the seventh edition of the Smart India Hackathon, and Prime Minister Narendra Modi will preside over this on Wednesday. More than 54,000 entries were received, and out of that, 1,300 teams (comprising over 10,800 participants) were selected to compete in figuring out the answers to 254 problem statements. Notably, most of the entries came from Tier 2 a ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
Heavy rains across Tamil Nadu have led to school closures in several districts, including Chennai, on Thursday. The India Meteorological Department (IMD) has issued a yellow alert, predicting moderate rains and light thunderstorms in parts of the state. Rainfall figures show significant precipitation in multiple areas. Meanwhile, Northern India braces for a cold wave beginning December 9, with the IMD forecasting plunging temperatures in Rajasthan, Punjab, Haryana, and Uttar Pradesh.Schools acros ...Read More >
New Delhi, May 29 (PTI) Ipca Laboratories on Thursday said its consolidated net profit increased 14 per cent to Rs 68 crore in the fourth quarter ended March 31, 2025. The drug firm reported a net profit of Rs 60 crore during the January-March quarter of 2023-24 financial year. During the quarter, revenue from operations rose to Rs 2,247 crore as compared to Rs 2,033 crore in the year-ago period, Ipca Laboratories said in a regulatory filing. Net profit stood at Rs 738 crore for 2024-25 fiscal against Rs 547 crore in FY24. Revenue rose to Rs 8,940 crore for the last fiscal from Rs 7,705 cr ...Read More >
SynopsisOn the technical charts, the RSI of the stock stood at 49.49.Shares of Bajaj Holdings & Investment Ltd. traded 1.41 per cent at Rs 10447.00 at 01:30PM (IST) on Tuesday, even as BSE benchmark Sensex 227.01 points to 79882.84. The stock had closed at Rs 10596.80 in the previous session. The stock quoted a 52-week high price of Rs 11348.50 and 52-week low of Rs 7212.00, respectively. As per BSE data, total traded volume on the counter till 01:30PM (IST) stood at 638 shares with a turnover of Rs 0.68 crore. At the prevailing price, shares of the company traded at 15.71 times its trailing ...Read More >
The new circle rates in Gurugram have come into effect from December 1 Gurugram: People eyeing a home in Gurugram will now have to pay more as the district administration has hiked the circle rates by 10% to 30%, driven mainly by demand. Luxury residential areas like Golf Course Road are likely to see a 30% hike in circle rates. According to reports, the new circle rates have come into effect from December 1 and will be applicable at least till March 31 next year. The price hike, however, has irked the residents, who alleged that the administration should also "improve basic amenities". Gu ...Read More >
New Delhi, Feb 7 (PTI) Ola Electric Mobility Ltd on Friday reported a widening of consolidated net loss at Rs 564 crore in the third quarter ended December 31, 2024 impacted by lower revenue due to enhanced competition and one-off cost to address service issues. The company had posted a net loss of Rs 376 crore in the third quarter last fiscal, Ola Electric Mobility Ltd said in a regulatory filing. Revenue from operations in the third quarter stood at Rs 1,045 crore as compared to Rs 1,296 crore in the year-ago period, it added. Total expenses in the quarter under review stood at Rs 1,505 c ...Read More >
AHMEDABAD: Homegrown pharma major, Zydus Lifesciences Limited, on Tuesday reported a 17.3% rise in consolidated net profit for FY 2025 at Rs 4,525.5 crore, up from Rs 3,859.5 crore in the previous year, driven by strong US and India sales. The board recommended a final dividend of Rs 11 per equity share, subject to shareholder approval at the AGM on 12 August 2025.For the March quarter (Q4), net profit fell marginally by 1.0% to Rs 1,170.9 crore from Rs 1,182.3 crore a year earlier, impacted by a one-time loss of Rs 220 crore. Adjusted for this, net profit rose 18% year-on-year to Rs 1,390.5 c ...Read More >
Kochi: The High Court has directed the Kerala state government to convince the central government that the state deserves more assistance for the Wayanad landslide disaster. The division bench also expressed its readiness to mediate between the central and state governments in this regard. According to the latest figures, the state disaster relief fund holds around Rs 700 crore, but only Rs 61 crore is available for expenditure, as reported by the amicus curiae. Kerala: Court orders inclusion of abetment charges against police officers in Dalit youth suicide case The Kerala state government ...Read More >
Mumbai, December 13: Indian benchmark indices Sensex and Nifty fell more than 1 per cent on Friday. At around 10.51 a.m., the Sensex fell 1,017.03 points or 1.25 per cent to 80,272.93, while the Nifty fell 306.80 points or 1.25 per cent to 24,241.90. The market trend remained negative. On the National Stock Exchange (NSE), 340 stocks were trading in green, while 2,047 stocks were in red. Stock Market Today: Indian Market Opens Flat, All Adani Shares Trade in Green. The market remained in turmoil due to heavy selling by Foreign Institutional Investors, the rising US bond yields and ongoing co ...Read More >
NEW DELHI, Dec 13 (Reuters) - India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book "Capital in the 21st Century" called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world's largest fortunes. "India should be active in taxing the rich," Piketty said at an event organised by Delhi-b ...Read More >
MUMBAI (Reuters): The Indian rupee weakened to its lifetime low on Tuesday, hurt by concerns about a widening trade deficit and likely outflows from local equities, although intervention by the central bank capped losses. The rupee hit a low of 84.93 against the US dollar, before closing at 84.8950, down 0.04% on the day. Benchmark Indian equity indexes BSE Sensex and Nifty 50, closed lower by over 1% each, dragged by weakness in financial stocks and Reliance Industries. Investor sentiment was also dampened after data on Monday showed that India's merchandise trade deficit rose to a record h ...Read More >
NEW DELHI: One Mobikwik Systems(Rs. 2584.16 crore), Intellect Design(Rs. 1065.62 crore), Mazagon Dock Ship(Rs. 891.02 crore), Amber Enterprises(Rs. 702.79 crore), KFIN Technologies(Rs. 561.63 crore), GIC(Rs. 509.82 crore), Manappuram Finance(Rs. 431.00 crore), Greaves Cotton(Rs. 285.52 crore), Tata Motors(Rs. 271.16 crore) and BSE(Rs. 260.62 crore) were among the most traded securities on the National Stock Exchange at 11:10AM in Thursday's session. The NSE Nifty index traded 14.15 points up at 23741.8, while BSE Sensex was 0.12 points at 78472.75 as of 11:10AM(IST)on December 26. In the Nif ...Read More >
BENGALURU (Reuters) - India's CESC, a power generation and distribution company, reported a fall in third-quarter profit on Friday, due to higher tax expenses and lower regulatory income. The company's consolidated profit fell 5.7% year-on-year to 2.65 billion rupees ($30.8 million) for the three months ended Dec. 31. Total tax expenses rose 27% to 800 million rupees. Regulatory income, which includes adjustments related to fuel cost, purchase of power and other fixed costs, fell to 3 billion rupees from 5.6 billion rupees a year ago. The profit before regulatory income and tax was at 620 ...Read More >
New Delhi [India], January 10 (ANI): Indian stock indices settled in the red for the third straight day on Friday, the last session of the current week, due to looming uncertainties around President Donald Trump-elect's likely actions post his inauguration. The Indian equity markets underperformed most global markets. The Sensex and Nifty index declined by 2 per cent this week, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. Besides, consistent selling by foreign investors and weak domestic economic growth also reflected on the stock markets. Sensex closed at 77,378.91 p ...Read More >
Gariaband (Chhattisgarh) [India], January 21 (ANI): Fourteen Naxals were killed in an encounter with Chhattisgarh police at the Chhattisgarh-Odisha border on Monday, the Chhattisgarh Police stated. According to the police, a member of the Naxal group, who had a bounty of 1 crore rupees on his head, was also killed in the encounter. Also Read | MP Shocker: Clerk Thrashes Woman at Revenue Department's Office in Bhind, Gets Suspended After Video Goes Viral. According to the police the encounter is still underway and more details are awaited on the matter. On January 17, two Border Security Fo ...Read More >
June 5 (Reuters) - The founding firms of India's Bajaj Finserv (BJFS.NS), opens new tab will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment (BJAT.NS), opens new tab, will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said. The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday. ...Read More >
Garden Reach share price has rallied a staggering 113 percent since the start of the year. Shares of Garden Reach Shipbuilders & Engineers (GRSE) climbed percent as much as 5 percent to hit a fresh 52-week high of Rs 3,521 in morning deals on Thursday after the defence PSU announced fresh global collaborations aimed at expanding its presence beyond military platforms. In a regulatory filing, GRSE said it has entered into a memorandum of understanding (MoU) with Hamburg-based Carsten Rehder for ...Read More >
MUMBAI (Reuters) -India's foreign exchange reserves stood at $691.5 billion as of May 30, the governor of the country's central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country's FX reserves are now about $13.4 billion below their all-time high hit in September 2024. "These (reserves) are sufficient to fund more than 11 months of goods imports and about 96% of external debt outstanding," Reserve Bank of India Governor Sanjay Malhotra said in a statement while announcing the monetary policy decision. Changes in foreign currency ...Read More >
NEW DELHI: India's two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country's fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth slows in developed markets and China, the world's second biggest oil consumer, with the transition to electric vehicles. The lower demand offshore combined with supply competition from new refiners, such as Dangote in Nigeria, and rising exports from Chi ...Read More >
Adani Ports, Adani Enterprises, Shriram Finance, UltraTech Cement, and Cipla were the top gainers on the Nifty. Benchmark indices Nifty and Sensex extended morning gains driven by strength in public sector banks ahead of the RBI MPC meet outcome on Friday. Heavyweight stocks like HDFC Bank and Reliance Industries also contributed to the rally on December 3. Broader markets also showed strength with mid- and small-cap indices rising 0.7 percent each. At noon, the Sensex was up 538.04 points or 0.67 percent at 80,786.12, and the Nifty was up 153.45 points or 0.63 percent at 24,429.50. About 2, ...Read More >