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.
New Delhi, July 4 (SocialNews.XYZ) The Competition Commission of India (CCI) has directed Aditya Birla Group company UltraTech, which owns India Cements, and two other cement manufacturing companies as well as their executives to submit financial documents, after its Director General's investigations revealed that these companies contravened competition norms by colluding in the tenders floated by public sector oil giant ONGC. The CCI had ordered an investigation after it received a complaint filed by the government-owned ONGC alleging cartelisation by the cement companies in the tenders that it floated. The investigation revealed that Umakant Agarwal, the proprietor of Sunrise Enterprises, was acting as the middleman behind these cement companies to facilitate the collusion in tenders floated by ONGC. The competition watchdog has directed UltraTech to submit the financial statements of its subsidiary India Cements for five years from FY15 to FY19, while Dalmia Bharat Cements and Shree Digvijay Cements for nine years, from FY11 to FY19. The CCI has also directed Dalmia Bharat Cements and Shree Digvijay Cements to submit their audited financial statement, including balance sheet and profit and loss account, within eight weeks of the order. Besides, it has also directed their executives to submit detailed financials and income tax records for five years, along with formal responses to the investigation report. The Director General had submitted its investigations report on February 18, 2025, which found contraventions of the competition regulations. The CCI on May 26, 2025, considered the investigation report and, in a four-page order, also directed the cement manufacturer to submit income derived from sales to alleged contraventions by the public sector oil giant. Its notice states that if there is non-furnishing of the financial details or incomplete/false information, within the time frame by the companies, then they would be liable under section 45 of the Act. UltraTech Cements had acquired a 32.72 per cent stake from promoters and promoter group entities of India Cements Ltd in December 2024. The Aditya Birla Group company, which had earlier picked up a 22.77 per cent stake in the company from the market, became the majority stakeholder of the Tamil Nadu-based company. Meanwhile, UltraTech Cement Limited has announced the resignation of its Chief Legal Officer, Anoop Khatry, effective from the close of business on July 3, 2025, due to personal reasons.
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: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
Sivasagar, Jun 26 (PTI) Leakage of gas continued for the 15th day from a crude oil well of ONGC in Assam's Sivasagar district although the energy major on Thursday claimed that it is nearing to control the blowout. In its daily bulletin on the blowout, ONGC said it has achieved a key breakthrough in its ongoing operations in close coordination with international well control specialists from CUDD Pressure Control. "The team successfully cleared all remaining rig materials, including staircases, entangled wires and other structural components. "This critical step culminated in the safe remov ...Read More >
Guwahati, June 27 (UNI) The Oil and Natural Gas Corporation (ONGC) has successfully capped a high-risk gas well blowout at its RDS 147A site in Sivasagar district, Assam, bringing an end to a 15-day-long emergency operation that triggered mass evacuation and widespread public anxiety. The gas well blowout, which began on June 12, involved an uncontrolled release of natural gas from one of ONGC's drilling sites -- a situation often considered one of the most hazardous in the oil and gas industry due to the risk of explosion and environmental damage. The blowout was finally brought under contr ...Read More >
Kolkata (West Bengal) [India], June 27 (ANI): A female student was allegedly gang-raped inside a law college in Kolkata's Kasba on Wednesday evening. The police have arrested all three accused within 24 hours. The three accused, named as Monojit Mishra (31), Zaib Ahmed (19), and Pramit Mukhopadhyay (20), were former students or staff members of the same law college. Also Read | Student Gang-Raped at South Kolkata Law College: Police Arrest 3 Youths for Sexually Assaulting Young Woman Inside Law College. According to the police, the accused named in the FIR will be produced before the A.C.J. ...Read More >
New Delhi: Mukesh Ambani's Reliance Industries is deliberating on closing a deal with the Russian oil giant PJSC Rosneft Oil Company, the talks for which are in an early stage. The talks are about sale of Rosneft's 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for the acquisition of Nayara. If it happens then it will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No.1 oil refiner. Since the discussions are in initial stage, there is no ...Read More >
New Delhi, Jan 31 (VOICE) The output of India's eight core sector industries rose 4 per cent year-on-year in December, driven by an increase in the production of coal, steel, and electricity during the month, according to government data released on Friday.The eight core industries include coal, natural gas, crude oil, refinery products, fertilisers, cement, steel and electricity which comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The growth rate of the core industries, therefore, is an indicator of the overall industrial growth rate. Apa ...Read More >
New Delhi, Jun 6 (PTI) NSE Sustainability Ratings and Analytics Ltd, an entity of the National Stock Exchange, on Friday announced the launch of its ESG ratings for listed companies. The firm focus on assessing environmental, social, and governance (ESG) performance providing stakeholders with vital information to make informed decisions. In a statement, NSE Sustainability said it received registration certificate from the Securities and Exchange Board of India (Sebi) to operate as a Category I ESG Rating Provider (ERP). "NSE Sustainability's mission is to provide stakeholders, including in ...Read More >
The National Investigation Agency (NIA) has charged five individuals, including goldy Brar, in relation to the 2024 Gurugram club bombing plot, as revealed in a recently filed chargesheet. This case involves a conspiracy to bomb two clubs, aiming to disrupt communal harmony in Haryana, with the banned terrorist group Babbar Khalsa International (BKI) implicated. The NIA's investigation highlights the severity of the plot. Those charged include satinderjit Singh (Goldy Brar), Sachin Talian, Ankit, Bhavish, and Randeep Singh. News Directory 3 provides crucial updates on sensitive cases such ...Read More >
Ludhiana, Jun 8 (PTI) Punjab Congress president Amrinder Singh Raja Warring on Sunday asserted that his party will win the Ludhiana West assembly bypoll, scheduled to be held on june 19, with a "record margin". "Congress practically has no competition here", he claimed. Warring, who is also the Ludhiana MP, said that the ruling Aam Aadmi Party (AAP) was badly mistaken that the Congress would allow it to abuse power and misuse the official machinery for the elections. "First of all, we will not let any misuse of the official machinery and second, in case any official is found to be misusing ...Read More >
New Delhi, Jun 27 (PTI) JSW Paints, part of USD 23 billion JSW Group, on Friday said it will acquire majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for Rs 8,986 crore. It will acquire 74.76 per cent stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of Rs 8,986 crore, according to a statement from the JSW Group firm. "JSW Paints today (Friday) entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India from Akzo Nobel NV a ...Read More >
Mumbai: JSW Paints has agreed to acquire Akzo Nobel's India business, valuing the company at Rs 12,000 crore (approximately $1.1 billion). This will make the paint-maker the fourth-largest in the now highly competitive domestic paints market. Ending months of negotiations, JSW has agreed to pick up 74.76% stake in the Akzo Nobel India for Rs 8,986 crore, an over 17% discount to Thursday's price. ET in its May 26th edition was the first to report that JSW had agreed for the billion dollar acquisition - its largest so far and had entered in "exclusive negotiations." "Akzo Nobel India is home t ...Read More >
Guwahati, June 27 (SocialNews.XYZ) In a significant move to boost infrastructure and community development, the Assam State Cabinet, chaired by Chief Minister Himanta Biswa Sarma on Friday approved key decisions under Mission Basundhara 3.0 and amended governance rules for autonomous councils and panchayats. The Chief Minister said: "The Cabinet cleared the allotment of government land for 942 infrastructure projects across 11 districts, including Kamrup, Barpeta, and Dhemaji. Barpeta leads with 170 proposals, followed by Dhemaji (207) and Lakhimpur (175)." CM Sarma told reporters here: "Add ...Read More >
Srinagar- Congress MP Shashi Tharoor on Saturday said foreign countries were told clearly during the post-Operation Sindoor diplomatic outreach that in case of a fresh provocation, India would repeat its action. Speaking at a discussion at the Ahmedabad Management Association, Tharoor said Indian delegations which visited foreign countries in the aftermath of Operation Sindoor managed to convey that India acted with restraint and responsibility. "In other places, we actually were able to get some very high-placed people to say not only that they respected and supported India's right of self- ...Read More >
New Delhi: Boasting of digital growth in India's largest public sector bank State Bank of India (SBI), Union finance minister on Tuesday said that digital transformation undertaken by SBI in the last decade has been immensely beneficial to its customers. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 customer service points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the ba ...Read More >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): NSE Sustainability Ratings and Analytics, a defunct subsidiary of the stock exchange NSE, has launched ESG ratings services for listed companies. It marks a significant milestone in advancing sustainable business practices in India. Also Read | Startup Growth in India: Country Now Has 1.76 Lakh Registered Startups and 118 Unicorns, Says FM Nirmala Sitharaman. NSE Sustainability focuses on assessing Environmental, Social, and Governance (ESG) performance, providing stakeholders with vital information to make informed decisions. The company NSE Sus ...Read More >
New Delhi/Guwahati, June 27 (SocialNews.XYZ) State-owned Oil and Natural Gas Corporation Limited (ONGC) on Friday successfully capped the blowout in one of its wells in Assam's Sivasagar district, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has announced. Announcing the plugging of the blowout, Puri said in a post on X on Friday, "ONGC has successfully capped the blow out of well RDS#147A at 1115 hours hrs today. This blow out started on 12th June and has been capped successfully within the shortest possible time following all the best practices." He said the Crisis Manag ...Read More >
Mumbai, Jun 27 (PTI) Equity benchmark indices Sensex and Nifty advanced for the fourth straight session on Friday, supported by buying in blue-chips ICICI Bank and Reliance Industries amid fresh foreign fund inflows. A strengthening rupee against the US dollar and softening crude oil prices in international markets also boosted investor confidence, according to traders. The BSE Sensex climbed 303.03 points or 0.36 per cent to reclaim the 84,000 level and settle at 84,058.90. During the day, it jumped 333.48 points or 0.39 per cent to 84,089.35. On the similar lines, the 50-share NSE Nifty r ...Read More >
Benchmark indices Sensex and Nifty rallied for the third straight session on Tuesday (December 3, 2024) amid buying in blue-chip stocks like HDFC Bank, Reliance Industries and firm trends in global markets. The BSE benchmark Sensex jumped 597.67 points or 0.74% to settle at 80,845.75. During the day, it surged 701.02 points or 0.87% to 80,949.10. The NSE Nifty went up by 181.10 points or 0.75% to 24,457.15. From the 30-share Sensex pack, Adani Ports surged nearly 6%. NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank and Reliance Industries were ...Read More >
Hyderabad: National Chartered Accountants Day, or CA Day, is a yearly celebration on July 1 to honour the founding of the Institute of Chartered Accountants of India (ICAI) in 1949. This day is very important for the accounting and finance community in India because it recognises the vital role chartered accountants have in the country's economy and finance. This year marks the 76th anniversary of The Institute of Chartered Accountants of India (ICAI), which is the main authority for accounting and financial auditing in India. It is one of the oldest and most respected financial organisations ...Read More >
Mumbai, Jul 1 (PTI) Equity benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after falling in the previous trading session, amid a rally in global markets. Moreover, buying in blue-chip stocks -- Reliance Industries and HDFC Bank -- also added to the markets optimism during the initial trade. The 30-share BSE Sensex climbed 177.79 points to 83,784.25 in early trade. The 50-share NSE Nifty went up by 51.2 points to 25,568.25. From the Sensex firms, Asian Paints, Bharat Electronics, UltraTech Cement, Reliance Industries, HDFC Bank and HCL Tech were among the gainers. How ...Read More >
New Delhi, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. The acquisition continues Aditya Birla's expansion in the US' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over USD 15 billion in investment. The acquisition was executed through Aditya B ...Read More >
MUMBAI: Corporate India showed signs of renewed vigour in 2024-25, with listed private non-financial companies reporting a sales growth of 7.2%, an improvement from the anaemic 4.7% recorded the previous year. Data from Reserve Bank of India, based on financial statements of 3,902 listed non-government non-financial firms, point to a broad-based if uneven recovery-tempered by rising input costs and tightening margins.Manufacturing companies saw sales climb by 6.0%, up from 3.5% the year before. The uptick owed much to strong performances in automobiles, electrical machinery, food and beverages ...Read More >
Bhubaneswar: A low-pressure area forming over the north Bay of Bengal and adjoining coastal areas of Bangladesh and West Bengal is expected to trigger heavy to very heavy rainfall across parts of Odisha through July 4, the India Meteorological Department (IMD) said Saturday. An upper air cyclonic circulation currently persists over southwest Bangladesh and adjoining Gangetic West Bengal, extending up to 7.6 km above mean sea level and tilting southwestward with height, the IMD said. Under its influence, a low-pressure area is likely to develop over the region within the next 48 hours. The sy ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Mumbai: Senior BJP leader Ravindra Chavan is all set to become the next Maharashtra BJP chief as he filed his nomination for the post of party's state president on Monday. Mr. Chavan presented the nomination forms to Union Minister Kiran Rijiju, who has been appointed as a central observer for the elections by the BJP. Maharashtra Chief Minister Devendra Fadnavis and outgoing party chief Chandrashekhar Bawankule were present on this occasion. With no other nomination being filed for the post, Mr. Chavan is certain to become the next state president of Maharashtra BJP, said party leaders. The ...Read More >
New Delhi, Jun 5 (PTI) Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, Georgia. In a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, Georgia. Also Read | Who Is Pinaki Misra? From Age to Family Background and Net Worth, Here's All About BJD Leader With Whom Mahua Moitra Reportedly Married. The acquisition continues Aditya Birla's expansion in the US' manufacturing sect ...Read More >
The Delhi government's anti-corruption branch (ACB) has arrested a suspended executive engineer and a private contractor for defrauding the Irrigation and Flood Control (I&FC) Department of Rs 4.6 crore fraud, an official said on Monday. The two accused allegedly facilitated fraudulent payments worth over Rs 4.6 crore for civil works that were never executed. The irregularities relate to drainage and road projects in a north Delhi village, Siraspur, which were found to exist only on paper. "Th ...Read More >
Mumbai: Benchmark stock indices Sensex and Nifty rebounded nearly 2 per cent on Tuesday in line with a recovery in Asian peers after US President Donald Trump delayed tariffs on Mexico and Canada for a month. The 30-share BSE Sensex jumped 1,397.07 points or 1.81 per cent to settle at a month's high of 78,583.81. During the day, it surged 1,471.85 points or 1.90 per cent to 78,658.59. The NSE Nifty soared 378.20 points or 1.62 per cent to 23,739.25, a level not seen since January 3. From the 30-share blue-chip pack, Larsen & Toubro rallied nearly 5 per cent. Adani Ports, IndusInd Bank, Tata ...Read More >