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.
NOIDA, 13 Aug: Oil India Limited, the Maharatna CPSE of govt. of India, sustained its consolidated PAT at Rs. 2046.51 Cr. in Q1FY26 vis-à-vis Rs. 2016.30 Cr. in Q1FY25. It was informed during the company's 570th meeting of the board of directors held here on Tuesday wherein it declared its financial results for Q1FY26. OIL achieved a standalone PAT of Rs. 813.48 Cr. in Q1FY26 vis-à-vis Rs.1466.84 Cr. achieved in Q1FY25 due to sharp drop in crude price realisation from USD 84.89/bbl in Q1FY25 to USD 66.20/bbl in Q1FY26, a drop of 22%. The consolidated Earnings Per Share (EPS) for Q1FY26 is Rs.11.66/share vis-à-vis Rs.11.59/share for Q1FY25. On production front, continuing its growth story, OIL pursued its efforts towards ensuring nation's energy security by sustaining its Oil & Gas production (O+OEG) from its matured and old oilfields in the Northeast at 1.680 MMTOE in Q1FY26 vis-à-vis 1.689 MMTOE in Q1FY25. During the quarter, OIL made a hydrocarbon discovery at Namrup-Borhat OALP block and commenced gas production from the Bakhritibba Discovered Small Field (DSF) block located in Rajasthan's Jaisalmer district. OIL's material subsidiary NRL sustained its crude throughput at 799 TMT during Q1FY26 vis-à-vis 764 TMT achieved in Q1FY25, according to a company release.
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...Read More >
Brookfield India Real Estate Trust's Rs 2,800- crore QIP has drawn interest from institutional investors such as India's biggest insurer Life Insurance Corporation of India (LIC), World Bank arm IFC and mutual funds such as ICICI Prudential MF and SBI MF, sources told Moneycontrol. The Canadian investment firm Brookfield-backed firm's QIP, with a base issue size of Rs 2,800 crore, saw a 2x demand from investors, the sources said. "This is the first time LIC and IFC have invested in a REIT in In ...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 >
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 >
The company's shares, which were priced at just ₹7.75 apiece three years ago, have skyrocketed by an incredible 25,758%, currently trading at ₹2,004. At the stock's peak price of ₹3,169, achieved in early October, the returns were even more astounding, reaching 40,790%. Eraaya Lifespaces has been making significant strides on Dalal Street, with its shares consistently reaching record highs month after month, delivering substantial returns to its shareholders in a relatively short time. The company's shares, priced at just ₹7.75 apiece three years ago, have skyrocketed by an incredible 25,758 ...Read More >
New Delhi: PwC India's report, titled Global Entertainment and Media Outlook 2024-28: India Perspective, brings promising insights into the country's showbiz industry. The report reveals that Indian entertainment and media industry is projected to surpass the global growth rate of 4.6 per cent by achieving a compound annual growth rate (CAGR) of 8.3 per cent. It is on its way to reaching a market size of Rs 365,000 crore (USD 44.2 billion) by 2028. So, where does India rank globally? The United States currently leads the market by revenue, followed by China. India, on the other hand, holds th ...Read More >
NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of the Mahindra Group, has reported net consolidated loss after tax of Rs 22.47 crore during the quarter ended December 31, 2024. It had registered profit after tax of Rs 50.02 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 185.77 crore in Q3 FY25, a growth of 109.27 per cent from Rs 88.77 crore it recorded in the similar quarter last year. Amit Kumar Sinha, managing director & CEO of the ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
New Delhi, May 19 (PTI) After a tepid start to 2025, the IPO market is getting back on track with six main-board companies, including Schloss Bangalore -- owner of luxury hotel chain The Leela, are set to float their initial share-sales this month to collectively mobilise over Rs 11,000 crore, investment banking sources said on Monday. Of the six firms, Borana Weaves and Belrise Industries will launch their IPOs this week. Borana Weaves will float its Rs 144-crore IPO on May 20, while Pune-based Belrise Industries' Rs 2,150-crore IPO will open on May 21. The remaining four companies -- Schl ...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 >
New Delhi, Dec 18 (PTI) Gold prices fell Rs 200 to Rs 79,100 per 10 grams in the national capital on Wednesday amid a firm trend in international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity settled at Rs 79,300 per 10 grams in the previous session. Snapping a three-day losing run, silver climbed Rs 500 to Rs 92,000 per kg on Wednesday. It closed at Rs 91,500 per kg on Tuesday. In the last three sessions, the white metal plunged Rs 5,500 per kg. The price of gold of 99.5 per cent purity slipped Rs 200 to Rs 78,700 per 10 grams from the ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
New Delhi, Jun 2 (PTI) Global automobile makers including Mercedes Benz, Skoda-Volkswagen, Hyundai and Kia have shown interest in manufacturing electric cars in India, Union Heavy Industries Minister H D Kumaraswamy said on Monday. The said companies have expressed interest during the stakeholder discussions between the government and the industry regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India', the detailed guidelines for which were unveiled by the minister. While the scheme was notified on March 15 last year, its guidelines were issued on Monday. Offici ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
New Delhi [India], December 3 (ANI): Oilfields (Regulation and Development) Amendment Bill, 2024 to expand the definition of mineral oils and include petroleum and natural gas passed in the Rajya Sabha on Tuesday. The bill was introduced by Union petroleum and natural gas minister Hardeep Singh Puri for consideration and passing. The Bill will regulate the exploration and extraction of natural gas and petroleum. The amended bill expands the definition of mineral oils to include petroleum and natural gas in it. Also Read | Pune: Doctors Perform Rare Laser Surgery on Woman Pregnant With Monoam ...Read More >
New Delhi, Dec 12 (PTI) Gold prices climbed Rs 500 to Rs 80,900 per 10 grams in the national capital on Thursday due to persistent buying by retailers and jewellers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity finished at Rs 80,400 per 10 grams in the previous trading session. The yellow metal has jumped nearly Rs 2,000 in the past three sessions. Silver also rallied Rs 700 to Rs 97,000 per kg on Thursday. The white metal settled at Rs 96,300 per kg in the previous session. The price of gold of 99.5 per cent purity also surged Rs 500 to Rs 80,5 ...Read More >
BCL Industries is investing Rs 150 crore to set up a bio-energy plant in West Bengal, aiming to enhance ethanol production as part of India's green energy push. The project, along with another in Punjab, is set for completion in 18-24 months. The company is also venturing into biogas production in Haryana with a Rs 350 crore investment. In a significant move towards enhancing India's green energy landscape, BCL Industries announced on Wednesday its plans to invest Rs 150 crore in a bio-energy pl ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Mumbai: The Brihanmumbai Municipal Corporation (BMC), considered the richest civic body in the country, tabled its budget of Rs 74,427 crore for 2025-26 at its headquarters in Mumbai on Tuesday. The additional municipal commissioners presented the budget to BMC commissioner Bhushan Gagrani, the state-appointed administrator. BMC is currently run by an administrator since the term of the corporators ended on March 7, 2022. This is the third year of the budget being presented to the administrator, in deviation from the norm where the municipal commissioner presents the budget to the standing co ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. As the country's heating, ventilation, air-conditioning, and refrigeratio ...Read More >
Mumbai (Maharashtra) [India], December 10 (ANI): The stock market ended Tuesday's trading session on a subdued note, with the benchmark indices showing little movement. The Sensex edged up by 1.59 points, closing at 81,510.05, while the Nifty declined by 8.95 points to end at 24,610.05. Also Read | Parliament Winter Session 2024: Congress, INDIA Bloc Allies Move No-Trust Motion Against Rajya Sabha Chairman Jagdeep Dhankhar; Alleges 'Proceedings in Upper House Conducted in Partisan Manner'. In the Nifty pack, 23 stocks advanced, while 27 ended in the red. Among the top gainers were Shriram F ...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 >
Amante Capital, KKR's dedicated European hospitality platform, will serve as managing partner to the joint venture LONDON--(BUSINESS WIRE)--Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International (NASDAQ:MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR's vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott branded hotels. The portfolio ...Read More >
Chennai, Dec 3 (PTI) Danfoss, a leader in heating, ventilation, air-conditioning and compressors has set a target to progressively ramp up local manufacturing capabilities over the next five years, supporting the Centre's Make in India campaign, the company said on Tuesday. Danfoss India, a subsidiary of Denmark-based Danfoss, earlier this year committed to a Rs 500 crore investment aimed at developing local manufacturing for HVAC (Heating, Ventilation, and Air-conditioning), and refrigeration compressors and controls. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Sing ...Read More >
Mumbai: The rupee slumped to its all-time low of 84.76 (provisional) against the US dollar after dropping 8 paise on Wednesday amid a strengthening greenback and increase in crude prices. Forex traders said a positive trend in domestic equity markets and foreign fund inflows supported the local unit at lower level. At the interbank currency exchange, the rupee opened at 84.66 and traded in the range of 84.65-84.76. Eventually it settled at 84.76 (provisional), 8 paise lower than Tuesday's close of 84.68. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, the rupee lost initial ...Read More >
New Delhi: Gold prices slipped below Rs 79,000 per 10 kg in the national capital on Wednesday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity fell by Rs 150 to Rs 78,850 per 10 grams. It had closed at Rs 79,000 per 10 grams in the previous session. Price of gold of 99.5 per cent purity extended the losses for the third straight day, declining by Rs 150 to Rs 78,450 per 10 grams from the previous close of Rs 78,600 per 10 grams. However, silver rose Rs 100 to Rs 92,500 per kg. On ...Read More >