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: Prices of commercial LPG were hiked by Rs 195.50 on Wednesday, on the back of a surge in global oil prices linked to the widening West Asia conflict. A 19-kg commercial LPG now costs Rs 2,078.50 in Delhi, according to state-owned oil companies. Rates were last increased by Rs 114.5 per 19-kg cylinder on March 1. Domestic cooking gas LPG rates, which were last hiked by Rs 60 per 14.2-kg cylinder on March 7, remain unchanged. It costs Rs 913 per 14.2-kg cylinder in Delhi. State-owned Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum revise ATF and LPG prices on the first day of every month based on international benchmarks and the exchange rate. Global oil prices have shot up almost 50 per cent after the war in West Asia disrupted energy supply chains.
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 >
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 >
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 >
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 >
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: 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: 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, Jan 17 (PTI) IT service provider Tech Mahindra on Friday announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, and complex operational challenges. Additionally, it will function as a hub where customers can vis ...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 >
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 >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...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 >
Mumbai, Dec 6 (VOICE) The RBI on Friday increased the interest rate ceilings on Foreign Currency Non-Resident Bank deposits or FCNR (B) deposits which will enable NRIs to earn more on their savings.The move is aimed at attracting more foreign capital at a time when the Indian rupee has come under pressure as foreign investors have been pulling money out of the Indian stock markets resulting in hot money outflows. FCNR(B) deposits are accounts where Non-Resident Indians (NRIs) can hold their earnings in foreign currencies like USD or GBP, protecting them from exchange rate fluctuations. "In o ...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 >
Ahmedabad, Jan 27 (VOICE) Adani Total Gas Ltd (ATGL) on Monday reported a 12 per cent increase in revenue from operations in the third quarter of FY25 at Rs 1,397 crore.EBITDA for the nine months of the current fiscal stood at Rs 893 crore, up by 6 per cent (year-on-year), India's leading energy transition company said in a statement. "ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume," said Suresh P Manglani, ED and CEO, ATGL. Despite the reduced APM gas allo ...Read More >
New Delhi, May 26 (PTI) Zepto Co-Founder and CEO Aadit Palicha has accused the chief financial officer of a competing company of orchestrating a smear campaign against his quick commerce platform. In a LinkedIn post on late Sunday, Palicha, not taking names, alleged that the CFO of one of Zepto's competitor firms has been reaching out to Zepto's investors with unsubstantiated claims, distributing false financial data to journalists, and employing bots to spread negative narratives about Zepto on social media. "Over the past few days, the CFO of one of our competitors has been trying to build ...Read More >
A fake approval letter claiming to offer an LPG dealership from HPCL is misleading the public and should be disregarded as a scam. Recently, a fake approval letter has been circulating online, purportedly from Hindustan Petroleum Corporation Limited (HPCL), claiming to offer individuals an LPG agency dealership. This letter has raised concerns as it misleads recipients into believing they have received official approval for a dealership, potentially leading to financial scams. The claim made in the story is that a fake approval letter is being distributed online, falsely presenting itself as ...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 >
Garden Reach share price has rallied a staggering 113 percent since the start of the year. Shares of Garden Reach Shipbuilders & Engineers (GRSE) climbed percent as much as 5 percent to hit a fresh 52-week high of Rs 3,521 in morning deals on Thursday after the defence PSU announced fresh global collaborations aimed at expanding its presence beyond military platforms. In a regulatory filing, GRSE said it has entered into a memorandum of understanding (MoU) with Hamburg-based Carsten Rehder for ...Read More >
Adani Ports, Adani Enterprises, Shriram Finance, UltraTech Cement, and Cipla were the top gainers on the Nifty. Benchmark indices Nifty and Sensex extended morning gains driven by strength in public sector banks ahead of the RBI MPC meet outcome on Friday. Heavyweight stocks like HDFC Bank and Reliance Industries also contributed to the rally on December 3. Broader markets also showed strength with mid- and small-cap indices rising 0.7 percent each. At noon, the Sensex was up 538.04 points or 0.67 percent at 80,786.12, and the Nifty was up 153.45 points or 0.63 percent at 24,429.50. About 2, ...Read More >
BENGALURU (Reuters) - The Indian rupee will break through 85 per U.S. dollar to hit a new low in the next six months even as the Reserve Bank of India continues to intervene to stem the currency's losses, according to a Reuters poll of FX strategists. The results come days after news that growth in India, the world's fastest growing major economy this year, unexpectedly slowed sharply to an annual 5.4% in the latest quarter, triggering speculation the RBI may cut interest rates on Friday. Only five of the 67 economists polled by Reuters in late November expected a rate cut at this month's me ...Read More >