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.
Mumbai (Maharashtra) [India], July 10 (ANI): Indian stock markets opened on a positive note on Thursday as investor focus shifted to the earnings season, amid a delay in the announcement of the India-US trade deal. The Nifty 50 index opened at 25,511.65, rising 4.55 points or 0.02 per cent, while the BSE Sensex saw a marginal uptick of 28.56 points or 0.03 per cent to open at 83,564.64. Also Read | Maharashtra: Girl Students of Classes 5 to 10 Made to Strip for Menstruation Check at RS Damani School in Thane; Principal Among 8 Booked. Experts stated that markets are still trading in a narrow range, and the start of the earnings season is expected to provide the next trigger for movement. Banking and market expert Ajay Bagga told ANI, "Indian markets continue to be in a tight range, with the start of the earnings season now providing a catalyst for markets to move. The sources who were pointing to an imminent India-US 'Mini Trade Deal' for the last five days have been proved wrong, as no India-specific announcement has been made yet. With the deadline moved to August 1, there is no certainty on the when and what of the Indo-US tariff deal." Also Read | Earthquake of Magnitude 4.4 on Richter Scale Hits Delhi-NCR, Tremors Felt in Noida, Gurugram and Faridabad, Residents Flee Homes in Panic (Watch Video). The broader market showed mixed trends. On the NSE, the Nifty 100 opened in red, while the Nifty Midcap 100 and Nifty Smallcap 100 gained 0.2 per cent and 0.3 per cent, respectively. Sector-wise, indices like Nifty Metal, Nifty PSU Bank, Nifty Realty, and Consumer Durables opened in green, while Nifty Auto, Nifty FMCG, Nifty IT, and Nifty Media remained under pressure. In global developments, the Trump administration on Wednesday announced new tariffs, a 30 per cent rate on products from Algeria, Libya, Iraq, and Sri Lanka; 25 per cent on goods from Brunei and Moldova; and 20 per cent on products from the Philippines. Brazil faces a steep 50 per cent punitive tariff, especially on copper. This move has created high volatility in global copper prices. However, US stock markets closed in the green, led by strong gains in Big Tech. The Brazilian index, on the other hand, declined due to the higher-than-expected tariffs. The earnings season kicks off today, with several large and mid-cap companies set to report their Q1 results. These include Tata Consultancy Services, Indian Renewable Energy Development Agency, Tata Elxsi, Anand Rathi Wealth, Oswal Pumps, Eimco Elecon (India), GTPL Hathway, International Travel House, Netlink Solutions, Stellant Securities (India), TeleCanor Global, and Atharv Enterprises. Akshay Chinchalkar, Head of Research at Axis Securities, noted, "The Nifty ended down yesterday in what was a late session selloff. Technically speaking, there was no upside follow-through on the 'bullish flag' breakout from Tuesday, so bulls don't have the all-clear yet. A close above 25,548 is needed to validate the bullish breakout and lead to an advance toward 25,600 for starters, followed by the recent swing high at 25,670." Among Asian peers, Japan's Nikkei 225 was down 0.53 per cent, while other key indices were trading in green. Hong Kong's Hang Seng rose 0.2 per cent, Taiwan Weighted index gained 0.3 per cent, South Korea's KOSPI surged 0.94 per cent, and Singapore's Straits Times advanced 0.48 per cent. (ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
New Delhi [India], December 2: The IVCA GreenReturns Summit 2024 commenced today in New Delhi, convening over 400 visionaries, investors, policymakers, and entrepreneurs to chart a transformative path for India's green economy. The Summit is dedicated to aligning India's climate goals with its trillion-dollar economic aspirations for a 'Viksit Bharat,' spotlighting high-impact investment opportunities, addressing funding gaps, and driving actionable solutions for net-zero and climate adaptation. Also Read | Mamata Banerjee Says West Bengal Yet To Get INR 14,000 Crore From Centre for Supply of ...Read More >
Small-cap Stock: Krystal Integrated Services Limited (Krystal) share price rose 5 per cent to ₹779.3 on Tuesday, November 26 after the company announced receiving a ₹106.3 crore contract from the Brihanmumbai Municipal Corporation (BMC). The contract, valued at ₹1,062.99 million ( ₹106.3 crore), covers three years and involves providing comprehensive attendant manpower services to BMC's Education and Security Departments. This initiative is aimed at improving public sector operational efficiency in Mumbai. Small-cap stock Krystal Integrated Services share was trading in the green, up 3.07 pe ...Read More >
U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social. Trump said the tariffs would remain in place until the two countries ...Read More >
Nifty 50, the benchmark index, opened today's session slightly higher at 23,927 versus yesterday's close of 23,914. It has appreciated after opening and is currently at 24,000, up 0.4 per cent. The advance/decline ratio of Nifty 50 stands at 37/13, a positive indication. Cipla, up 2.1 per cent, is the top gainer whereas Power Grid Corporation of India, down 1.1 per cent, is the top loser. Like the benchmark index, all mid and small cap indices are in the green. Moreover, among the sectors, almost all have advanced today, led by Nifty Pharma and Nifty Media, up 1.5 and 1.4 per cent, respectiv ...Read More >
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Ahmedabad (Gujarat) [India], December 2 (ANI): Ambuja Cements has taken a step toward achieving its Net Zero goals. The company has partnered with Finland-based technology leader Coolbrook to implement its proprietary RotoDynamic Heater (RDH) technology. According to the exchange filing, this cutting-edge, zero-carbon heating solution, powered by renewable electricity, will drastically reduce the company's dependence on fossil fuels and lower its carbon emissions, aligning with its sustainability vision. Ambuja Cements will significantly reduce its fossil fuel dependence by harnessing renewa ...Read More >
NEW DELHI: Government is all set to allow 100% foreign direct investment in insurance business, paving the way for large companies to enter the market on their own, while allowing individual insurance agents to hawk policies of multiple companies, lifting the cap on being associated with only one life and general insurer. The twin measures are part of the Insurance Amendment Bill that is proposed to be introduced during the winter session of Parliament that kicks off later this month. On August 19, TOI was the first to report about the proposed increase in the FDI ceiling, a suggestion which ...Read More >
New Delhi [India], November 18 (ANI): Bharatiya Janata Party leader and in-charge of the party's National IT Department, Amit Malviya, on Monday, criticised the Congress party's 'hypocrisy' over their stance on the Adani Group, pointing to past investments and agreements made with the corporate conglomerate by Congress-ruled states. Taking to social media platform X, Malviya referenced Telangana Chief Minister Revanth Reddy's recent "public admission of accepting money" from the Adani Group on November 10, 2024, pointing out that this acknowledgment contradicted Congress leader Rahul Gandhi's ...Read More >
Mumbai, November 26: The final allotment for the NTPC Green Energy IPO has been confirmed, and investors can now check their status through bank debit messages or online platforms such as the BSE, NSE, and Kfin Technologies. The shares of NTPC Green Energy, which opened for subscription on November 19 and closed on November 22, are set to be listed on the stock exchanges on Wednesday, November 27, 2024. The public offering received strong investor interest, with the issue oversubscribed by 2.42 times, according to the National Stock Exchange (NSE). Analysts maintain a positive long-term outlo ...Read More >
India Quality Conclave 2024: Driving Excellence in Quality Management Presto Group proudly presents the India Quality Conclave 2024, set to take place on November 30 at Crowne Plaza, New Delhi. This transformative event will bring together industry leaders from packaging, FMCG, pharmaceuticals, and other sectors to discuss cutting-edge quality improvement practices. Key highlights include strategies for cost reduction, boosting QC team productivity, and ensuring hassle-free audits. Attendees will benefit from keynote speeches, case studies, panel discussions, and a special book launch, Per ...Read More >
TARC Limited announced today that it has sold 50 per cent of its TARC ISHVA residential project, valued at ₹1,350 crore, just two months after its launch in September 2024. The luxury residential development on Golf Course Extension Road in Gurugram's Sector 63A spans 1.35 million square feet and offers four-side open residences with Aravali Hills views. The shares of TARC Limited were trading at ₹212 up by ₹6.29 or 3.06 per cent on the NSE today at 11.57 am. Amar Sarin, Managing Director & CEO, highlighted the project's success, attributing it to the company's customer-centric strategy and ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
HDFC bank's m-cap last breached the Rs 14 lakh crore mark on November 28 during intraday trade, before the stock settled below Rs 1,800 In a significant block deal on Tuesday, 21.7 lakh shares of HDFC Bank were sold, according to Bloomberg. This transaction led to a rise in the bank's market capitalization, surpassing Rs 14 lakh crore during morning trading, with shares increasing by as much as 2% to Rs 1,837 on the BSE. Although the identities of the buyers and sellers remain undisclosed, the deal is valued at approximately Rs 392 crore, based on the previous day's closing price of Rs 1,804 ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
The Supreme Court on Monday stayed further recovery of an outstanding tax demand from news portal NewsClick, directing the company's banker not to release any more money to the tax department based on a 2023 notice, and allowing the portal to use its two bank accounts for daily operations. The order was passed by a bench headed by justice BV Nagarathna on an application moved by PPK Newsclick Studio Limited, which alleged that ICICI Bank was not allowing the company to use its accounts despite a top court order to this effect passed on August 9. The tax department had raised the demand again ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
H.E. Josel Francisco Ignacio, current Ambassador of the Philippines to India shares his credentials with President Droupadi Murmu On 16 November 1949, the Philippines and India, the two independent democracies would forge diplomatic ties. The two republics were born just a few years apart, first set out on the road to their bilateral friendship and collaboration. This inaugurated a period of closer government interaction, commerce and investment, and other bilateral and multilateral cooperation. Building on much common ground in history, democratic ideals, socio-economic imperatives and aspi ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
Euro zone government bond yields increased slightly as investors await upcoming inflation data that may influence the European Central Bank's policy direction. Concerns over potential tariff hikes from the U.S. could further impact ECB strategies. Germany's bond yields and political tensions in France also add to the economic uncertainties. On Tuesday, euro zone government bond yields saw a minor increase after hitting multi-week lows in the previous session. Investors are keenly awaiting inflation data later this week that could provide insight into the European Central Bank's potential poli ...Read More >
China and Hong Kong stock markets are experiencing a downturn due to rising concerns over the U.S.-China trade war, particularly regarding proposed tariffs and chip sales restrictions. The CSI300 and Shanghai Composite indexes fell, while Hong Kong's Hang Seng Index dropped 1.32%. Investors are wary of potential new restrictions on semiconductor and AI chip exports to China, further exacerbating market uncertainty. The automotive sector, led by BYD, also suffered from intense price competition among Chinese carmakers. Investor sentiment remains cautious, reflecting fears of escalating trade te ...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 >
Amazon Web Services (AWS) has launched the Quantum Embark advisory program to help businesses prepare for the emerging quantum computing era. The program comes as quantum stocks, like IonQ, see significant growth, driven by innovations in drug discovery, cryptography, and materials science. Companies like D-Wave and Rigetti are advancing quantum technologies, with D-Wave focusing on optimization problems and Rigetti on scalable quantum systems. Despite early financial losses, these companies are gaining traction with government contracts and commercial clients. As quantum computing evolves, in ...Read More >
Mumbai (Maharashtra) [India], December 2: Dosti Realty, a leading brand in the real estate sector recognised for delivering exceptional residential experiences and premium lifestyle projects across the Mumbai Metropolitan Region has announced the "Good Buy 2024" campaign for aspiring homeowners. An ideal way to bid farewell to the year, the Dosti Realty campaign is designed to resonate with the spirit of the year-end, inspiring homebuyers to make meaningful investments that shape their future. Also Read | Farmers Protest: Massive Congestion at Delhi-Noida Border as Police Set Up Barricades Ah ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...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 >
Part of the deal involves assistance to boost mining supply chains. Peru is one of the world's top copper producers, while Japan is a major consumer of the key industrial metal. In the aftermath of the APEC summit, Peru also inked a defense cooperation deal with South Korea, including a submarine agreement with Hyundai Heavy Industries and another deal with Korea Aerospace Industries to manufacture parts for fighter aircraft, according to Boluarte's foreign minister. Last week, Peru formally inaugurated the Chinese-built Pacific coast megaport of Chancay, promising faster and more efficient ...Read More >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >