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.
BHUBANESWAR: The Odisha government has issued a demand notice of Rs 1,902.72 crore on Tata Steel Limited for alleged shortfall in dispatch of minerals from the company's Sukinda chromite block. The demand includes the sale value of shortfall quantity and appropriation of performance security. The block located in Jajpur district is one of the largest chromite mines in the country. Sources said the office of the deputy director of mines, Jajpur, issued the demand notice on Thursday in connection with revised assessment of shortfall in dispatch of minerals from the company's Sukinda mines for the fourth year in terms of Mine Development and Production Agreement (MDPA) covering the period from July 23, 2023 to July 22, 2024 in alleged violation of Rule 12A of the Minerals (Other than Atomic and Hydrocarbon Energy Minerals) Concession Rules, 2016.
Mumbai: The birth of three penguin chicks at Mumbai's Veermata Jijabai Bhosale Udyan and Zoo has sparked an unexpected row not over their care, but their names. BJP functionary Nitin Bankar from the Byculla Assembly constituency has objected to the chicks being given English names, insisting they be named in Marathi instead. The BMC is expected to respond by June 10, after which Bankar will decide his next move. Speaking to The Free Press Journal, Bankar said, "When penguins were brought from abroad, we accepted that their names would be in English. But these chicks were born on the soil of M ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
New Delhi/Bhubaneswar, Jun 30 (PTI) A day after three people were killed in a stampede near Shree Gundicha temple in Odisha's Puri, the Congress on Monday demanded that Chief Minister Mohan Charan Manjhi and his deputy resign, taking responsibility for the tragedy, and also called for a judicial inquiry. Alleging that the BJP prioritised billionaire Gautam Adani, who attended the Rath Yatra, over the people, the opposition party said the state government has turned Odisha's holiest festival into a private event for "billionaires, cronies, and camera crews, at the cost of ordinary devotees". ...Read More >
Bhubaneswar: In a landmark step to strengthen early childhood education, the Odisha government has announced the introduction of 'Sishu Vatikas' across all government primary schools starting from the Academic Year (AY) 2025-26. The notification was issued by the Commissioner-cum-Secretary to the Government of Odisha, School & Mass Education Department on Monday and will be published in the Odisha Gazette. As part of this new initiative aligned with the National Education Policy 2020, children aged 5 to 6 years will be enrolled in pre-school education at these specially created centers. The ...Read More >
Mumbai, Jul 3 (PTI) Equity benchmark indices Sensex and Nifty climbed in initial trade on Thursday, mirroring a positive trend in Asian markets, amid optimism over India-US trade deal. The US-Vietnam trade deal also had a positive effect on the domestic equities, analysts said. The 30-share BSE Sensex climbed 242.83 points to 83,652.52 in early trade. The 50-share NSE Nifty went up by 83.65 points to 25,537.05. "US President Trump announced a trade deal reducing Vietnam's tariff to 20 per cent from 46 per cent, raising hopes that India's effective tariff rate may settle around 15-18 per cen ...Read More >
Hardik Pandya played an excellent knock of 69 runs in 30 balls to lead Baroda to a three-wicket win over Tamil Nadu in a high-scoring Group B match at the Holkar Stadium in Indore on Wednesday. Hardik's innings included four 4s and seven 6s. Out of those seven sixes, four came in the 17th over bowled by left-arm pacer Gurjapneet Singh. Chasing a stiff total of 222, Baroda was at 121 for 4 when Hardik came out to bat after the dismissal of his elder brother Krunal. The equation came down to 66 needed off 24 balls when Gurjapneet, a 6'3" seamer bought for Rs 2.2 crore by five-time Indian Prem ...Read More >
Bhubaneswar: Opposition BJD and Congress MLAs Tuesday staged a walkout from the Odisha assembly, accusing the ruling BJP of failing to control prices of essential commodities and resolve the potato crisis in the state. The issues were debated in the House over the admissibility of an adjournment motion moved by the Opposition on price rise of vegetables, pulses, edible oil and fuel. The opposition members took exception to comments made by Food Supplies and Consumer Welfare Minister K C Patra that adverse climate conditions, rates in international and domestic markets, and less production by ...Read More >
Bhubaneswar, June 29 (SocialNews.XYZ) In the aftermath of Puri stampede that claimed three lives, Odisha Government on Sunday shunted out Puri District Collector Siddharth Shankar Swain and Superintendent of Police Vinit Agrawal while two other senior police officials have been placed under suspension. Collector of Khordha, Chanchal Rana and DIGP of the Special Task Force (STF) of Odisha Police, Pinak Mishra have been appointed as Puri Collector and SP respectively, as per a statement issued by the Chief Minister's Office following a high-level meeting. DCP Vishnu Pati and Commandant Ajay Pa ...Read More >
Mumbai, Jun 27 (PTI) Benchmark indices Sensex and Nifty began the trading session on an optimistic note on Friday amid fresh foreign fund inflows and a rally in the US markets. Rallying for the fourth day running, the 30-share BSE Sensex climbed 229.22 points to 83,985.09 in early trade. The 50-share NSE Nifty went up 73.5 points to 25,622.50. From the 30-Sensex firms, Larsen & Toubro, Tata Steel, State Bank of India, Tata Motors, HCL Tech, and Bharat Electronics were among the major gainers. Bajaj Finserv, HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank were among the laggards. Foreign ...Read More >
Bhubaneswar, Jun 29 (PTI) In a punitive measure following the Puri temple stampede that left three people dead and nearly 50 injured on Sunday, Chief Minister Mohan Majhi ordered the transfer of District Collector Siddharth Shankar Swain and SP Vineet Agrawal. Terming the "negligence" leading to the stampede as "unpardonable", Majhi also announced the suspension of two police officers - DCP Bishnu Pati and Commandant Ajay Padhi - an official release said. The CM appointed Khurda District Collector Chanchal Rana as the new collector of Puri. Agrawal will be replaced by Pinak Mishra as Puri SP ...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 >
Jamshedpur, July 2: Tata Steel held its 118th Annual General Meeting (AGM) on July 2, where the company's Chairman addressed shareholders with a comprehensive overview of the company's performance, challenges, and strategic direction. The meeting opened on a solemn note, acknowledging recent losses within the Tata Group and paying tribute to significant figures whose contributions shaped the company. "There is a lot to talk about today," said the Chairman. "But I must begin by acknowledging the heavy loss we have felt in recent months. Across the entire Tata Group, we honour those who lost th ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Bengaluru, Jun 7 (PTI) A 26-year-old man allegedly beheaded his wife following a heated argument on the outskirts of Bengaluru after he suspected her of having an extra-marital affair, police said on Saturday. After killing Manasa, Shankar travelled with her severed head on his scooter to the nearest police station and confessed to the crime, they said. The man was later arrested, police said, adding that the incident occurred at Heelalige village, near Chandapura, Anekal taluk late on Friday. According to the police, the couple were married for over five years and have a four-year-old daug ...Read More >
New Delhi, Jun 29 (PTI) The Congress on Sunday attacked the Centre and Rajasthan governments over the reported plan to redraw the boundaries of the Sariska Tiger Reserve for the reactivation of over 50 mining operations, saying the move would be "ecologically devastating". The opposition party also said that with the Rajasthan and Union environment ministers both being from Alwar, this "double engine" cannot be supporting such a move. Congress general secretary in-charge communications Jairam Ramesh shared on X a media report which claimed that a plan to redraw the boundaries of Rajasthan's ...Read More >
Mumbai, June 30 (SocialNews.XYZ) After rising for four straight sessions, the Indian stock markets took a breather on Monday as investors booked profits amid the absence of strong domestic cues. The Sensex dropped 452 points, or 0.54 per cent, to close at 83,606.46. During the day, it moved between an intra-day high of 84,099.53 and a low of 83,482.13. Nifty also followed suit. The 50-share index opened at 25,661.65, touched a high of 25,669.35, and closed at 25,517.05, down by 120.75 points or 0.47 per cent. In contrast, the broader markets performed better. The Nifty Midcap100 rose 0.6 pe ...Read More >
Mumbai: The Indian benchmark indices opened higher on Tuesday amid positive global cues, as buying was seen in the auto and IT sectors in the early trade. At around 9.26 am, Sensex was trading 188.66 points or 0.23 per cent up at 83,795.12 while the Nifty added 54.80 points or 0.21 per cent at 25,571.85 According to analysts, with the US market setting new record highs, the global equity market mood is positive and West Asian geopolitics is no longer a threat to global economy. "Going forward, the market is likely to be influenced by developments on the tariff front. An India-US trade deal w ...Read More >
Mumbai/Jajpur: Tata Steel Friday said that it has received a demand notice of Rs 1,902.72 crore from the Deputy Director of Mines in Jajpur, Odisha. The notice relates to an alleged shortfall in the dispatch of minerals from the company's Sukinda Chromite Block. According to a stock exchange filing by Tata Steel, the demand is based on a revised calculation of average sale prices provided by the Indian Bureau of Mines. The mining authorities issued the notice July 3 under Rule 12A of the Minerals (Other than Atomic and Hydrocarbon Energy Minerals) Concession Rules, 2016. They have also move ...Read More >
Mumbai, November 29: The Indian stock market opened in green on Friday as buying was seen in the Media and Pharma sector in early trade. At around 09.44 a.m., the Sensex was trading at 79,369.57 after gaining 325.83 points or 0.41 per cent, while the Nifty was trading at 24,019 after rising 104.85 points or 0.44 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1345 stocks were trading in the green, while 876 stocks were in the red. Nifty Bank was up 224.45 points or 0.43 per cent at 52,131.30. Nifty Midcap 100 index was trading at 56,397.95 after gaining 97. ...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 >
Bhubaneswar: At least four workers from Odisha were killed and four others injured in the explosion at a pharmaceutical factory in Telangana, an officer said on Wednesday. So far, 36 persons have been killed and several others injured in the powerful blast at a pharmaceutical manufacturing unit in Telangana's Sangareddy district. The explosion occurred on Monday at Sigachi Industries' plant in Pashamylaram. "As per information received from the local district administration, four persons from Odisha were killed in the blast and another four persons, among whom one is serious, are under treatm ...Read More >
Mumbai, July 7 (SocialNews.XYZ) The Indian stock market ended flat on Monday as investors remained cautious amid uncertainty around the interim India-US trade deal. Sensex closed at 83,409.68, marginally up 9.61 points or 0.01 per cent. The 30-share index opened marginally lower at 83,398.08 against the last session's closing of 83,432.89. The index did not see much volatility as it touched an intra-day high at 83,516.83, a jump of 84 points. Similarly, Nifty settled flat at 25,461.30, up 0.30 points. From the Sensex basket, Hindustan Unilever, Adani Ports, Kotak Bank, Asian Paints, ITC, Po ...Read More >
Mumbai, Jun 6 (PTI) Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. Also Read | Lucknow Toddler Rape Case: Man Accused of Abduction, Sex Assault of 3-Year-Old Girl Killed in UP During Police Encounter. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Nifty dropped 27.65 points to 24,723.25. From the Sensex firms, Tata Motors, Bajaj Finance, ICICI Ban ...Read More >
Bhubaneswar: In the wake of a tragic incident during the Rath Yatra in Puri, the Odisha government Sunday removed Puri Collector Siddharth Shankar Swain and SP Vinit Agarwal from their posts and announced an ex gratia of Rs 25 lakh each for the families of those who lost their lives. The state has also suspended two police officers for alleged negligence in crowd management. Senior IAS officer Chanchal Rana has been appointed as the new District Magistrate, and IPS officer Pinak Mishra will take charge as the Superintendent of Police. Odisha Chief Minister Mohan Charan Majhi expressed deep s ...Read More >
Puri Stampede: Following the tragic stampede during the Jagannath Rath Yatra in Puri, Odisha Chief Minister Mohan Charan Majhi on Sunday announced Rs. 25 lakh in financial assistance for the bereaved families. Furthermore, Odisha Deputy Commissioner of Police (DCP) Vishnu Pati and Commandant Ajay Padhi have been suspended, following the incident in which at least three people died and several were injured. The mishap occurred early morning on Sunday near the Gundicha Temple in Puri. According to a post on X by the Odisha CMO, the incident occurred during the world-famous Rath Yatra in Puri, ...Read More >
The Chief Minister's Office (CMO) of Odisha said that the Puri District Collector and SP have been transferred. Odisha CMO further said that DCP Vishnu Pati and Commandant Ajay Padhi have also been suspended for negligence of duty. The development comes after three people, including two women, were killed and around 50 others were injured in a stampede near Shree Gundicha Temple in Odisha's Puri. In the latest development in the Puri Rath Yatra stampede, the Odisha government said that the Puri District Collector and SP have been transferred. Odisha CMO further said that DCP Vishnu Pati and C ...Read More >
Mumbai, June 29 (SocialNews.XYZ) Tata Steel on Sunday said it has received a show-cause-cum-demand notice from the tax department over an alleged irregular use of input tax credit worth over Rs 1,000 crore for the financial years 2018-19 to 2022-23. In a filing to the stock exchanges, the company said that the notice was issued by the Office of the Commissioner (Audit), Central Tax, Ranchi, on June 28. "On June 28, Tata Steel Limited received a Show Cause cum demand Notice dated June 27, issued by the Office of the Commissioner (Audit), Central Tax, Ranchi, proposing to disallow/demand prima ...Read More >
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi has announced an ex-gratia of Rs 10 lakh each to the families of five Odia labourers who lost their lives in a devastating explosion at Sigachi Industries Limited's pharmaceutical factory in Telangana's Sangareddy district. The deceased labourers are Rajnala Jagan Mohan from Ganjam, Lagnajit Duari from Cuttack's Tigiria, Manoj Raut from Balasore, Dolagobinda Sahu from Jajpur, and Chaitu Bhatra from Nabarangpur. According to reports, three other Odia workers, Sameer Padhi from Ganjam, Chandan Kumar Naik from Bhadrak, and Neelambar Bhadra f ...Read More >
Bhubaneswar: The Odisha government is committed to refunding all depositors affected by chit fund scams, regardless of the amount invested, assured BJP Odisha President Manmohan Samal on Friday. Speaking at a press conference, Samal said the refund process is already in progress and is expected to be completed within the next four months. He revealed that a list of five lakh eligible depositors has been prepared for the upcoming phase of disbursement. "We stand by the commitment made in our Sankalp Patra. Whether a person has invested Rs 10,000 or Rs 10 lakh, their money will be refunded," h ...Read More >
Mumbai, Dec 13 (PTI) Benchmark indices Sensex and Nifty slumped on Friday morning dragged down by metal stocks, foreign fund outflows and weak global cues. The 30-share BSE benchmark Sensex tumbled 1,207.14 points to 80,082.82 in the late morning trade. The NSE Nifty tanked 367.9 points to 24,180.80. Among the 30-share Sensex blue-chip pack, JSW Steel, Tata Steel, IndusInd Bank, Bajaj Finserv, Axis Bank, Larsen & Toubro, ITC and Mahindra & Mahindra were the biggest laggards. Bharti Airtel and Hindustan Unilever were the gainers. Foreign Institutional Investors (FIIs) offloaded equities wor ...Read More >