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: Aviation Turbine Fuel (ATF) prices were hiked by over 3 per cent and commercial LPG rates by Rs 15.50 per cylinder on Wednesday as oil firms revised fuel prices in line with global benchmarks. Jet fuel (ATF) price was increased by Rs 3,052.5 per kilolitre, or 3.3 per cent, to Rs 93,766.02 per kl in the national capital - home to one of the busiest airports in the country, according to state-owned fuel retailers. The increase comes on the back of a 1.4 per cent (Rs 1,308.41 per kl) reduction last month. The price hike will increase the burden on commercial airlines, for whom fuel makes up almost 40 per cent of the operating cost. No immediate comments could be obtained from the airlines on the impact of the price change. The ATF price in Mumbai was hiked to Rs 87,714.39 per kl from Rs 84,832.83 per kl, while those in Chennai and Kolkata were increased to Rs 96,816.58 and Rs 97,302.14 per kl, respectively. Rates differ from city to city, depending on the incidence of local taxes such as VAT. Alongside, oil firms increased the price of commercial LPG used in hotels and restaurants by Rs 15.50 per 19-kg cylinder. Commercial LPG now costs Rs 1,595.50 in the national capital. The hike follows six-monthly reductions, the last being of Rs 51.50 on September 1. In the six reductions, prices were cut by Rs 223 per bottle since April. Oil prices have firmed since the last revision mainly because of geopolitical reasons, necessitating the changes in retail rates.
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 >
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 >
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 >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
Kanpur (UP), May 28 (PTI) Prime Minister Narendra Modi will lay the foundation stone and inaugurate multiple development projects worth about Rs 20,900 crore here on Friday to boost the region's infrastructure and connectivity, an official statement issued here said. He will launch Chunniganj Metro Station to Kanpur Central Metro Station section of the Kanpur Metro Rail Project worth more than Rs 2,120 crore. It will include 14 planned stations with five new underground stations integrating key city landmarks and commercial hubs into the metro network. Besides, he will also inaugurate road-w ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
NEW DELHI, June 3 (Reuters) - Prime Minister Narendra Modi's high-profile attendance at a global airlines conference this week underscores how much India is banking on a boom in aviation to support wider development goals, but headwinds to its ambitions are gathering force. Undeterred by the uncertainty gripping the aviation sector globally due to trade tensions and shaky consumer confidence, India's biggest airlines are ploughing ahead with orders for new planes, following record deals two year ...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 >
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 >
New Delhi: Three Indian citizens vanished mysteriously in Tehran. Darkness closed in as hope seemed lost. A ruthless Pakistani gang with potential links to ISI snatched them away, casting a shadow of fear. But relentless Indian diplomats refused to back down. Against all odds, a daring rescue mission ignited. Now, the captives are free, and a chilling game of espionage comes to light. The Punjab-based trio - Amritpal Singh from Hoshiarpur, Jaspal Singh from SBS Nagar and Hushnapreet Singh from Sangrur - had landed in Iran on May 1. Promised a clandestine route to Australia via Dubai and Tehra ...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 >
New Delhi [India], December 12 (ANI): The Index of Industrial Production (IIP) growth rate for October 2024 registered a modest increase to 3.5 per cent, up from 3.1 per cent in September 2024, according to the Quick Estimates released on December 12. According to the Ministry of Statistics & Programme Implementation, sectoral analysis reveals mixed performances. Mining, Manufacturing, and Electricity sectors reported growth rates of 0.9 per cent, 4.1 per cent, and 2.0 per cent, respectively. The manufacturing sector demonstrated resilience, with 18 out of 23 industry groups at the 2-digit N ...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 >
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 >
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 >
Alipurduar (West Bengal) [India], May 29 (ANI): Prime Minister Narendra Modi on Thursday laid foundation stone of City Gas Distribution project in Alipurduar and Cooch Behar districts in West Bengal on Thursday. The project, worth over Rs 1010 crore, aims to provide Piped Natural Gas (PNG) to more than 2.5 Lakh households, over 100 commercial establishments, and industries, and Compressed Natural Gas (CNG) to vehicular traffic by establishing around 19 CNG stations in line with the Minimum Work Program (MWP) targets stipulated by the Government. Also Read | Kerala Lottery Result Today 3 PM L ...Read More >
In the Indo-Pacific region, if one development would prove to be a landmark event in the region's modern history, it would be the signing of the Treaty of Comprehensive Partnership between North Korea and Russia in June 2024. The partnership has paved the way for strengthening bilateral ties between Moscow and Pyongyang and marked the onset of the global order transition, which was already underway. The institutionalization of the U.S., South Korea, and Japan's trilateral security cooperation has also given Russia and North Korea another strategic reason to collaborate. Therefore, with the geo ...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 >
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 >
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 >
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 >
(The views expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, Nov 28 (Reuters) - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. The top crude-buying region is forecast to import 26.42 million barrels per day (bpd) in November, up marginally from October's 26.11 million bpd and 26.24 million bpd in September, according to data compiled by LSEG Oil Research. The ongoing run of soft monthly imports in Asia is likely t ...Read More >
New Delhi: Gold prices saw a significant rise of Rs 330, reaching Rs 79,720 per 10 grams in the national capital on Thursday. The increase was attributed to persistent buying by jewelers and retailers, according to the All-India Sarafa Association. On Wednesday, gold had closed at Rs 79,390 per 10 grams. Silver also followed the upward trend, climbing Rs 130 to Rs 90,630 per 10 grams, compared to its previous session's close of Rs 90,500 per 10 grams. Also Read: Today's Gold and Silver Prices in Different Cities Gold of 99.5% purity also surged by Rs 330, hitting Rs 79,170 per 10 grams, up ...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 >
MUMBAI: India's stock markets on Monday were trading lower as weak global cues and a decline in Asian markets weighed on investor sentiment. The benchmark indices, Sensex and Nifty, struggled throughout the day, with most sectors witnessing losses. At the closing bell, the BSE Sensex had dropped 319.22 points, or 0.41 per cent, to settle at 77, 186.74, while the Nifty was down 121.10 points, or 0.52 per cent, to close the trading session at 23, 361.05. The decline in the Indian share market is due to US President Donald Trump's decision to impose a 25 per cent tariff on imports from Canada ...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 >