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: The defence ministry has inked a major capital acquisition contract with PSU Bharat Electronics Limited (BEL) for the procurement of two mountain radars, including associated equipment and infrastructure, for the Indian Air Force, at a cost of around Rs 1,950 crore.The installation and commissioning of these radars will boost the country's air defence and strengthen national security. The procurement will also reduce the dependency on foreign equipment.The radars are indigenously designed and developed by DRDO's electronics and radar development establishment, and will be manufactured by BEL.The contract, under the Buy (Indian-indigenously designed, developed and manufactured) category, was signed in the presence of senior officials of the defence ministry and BEL on March 31. This was the last capital acquisition contract in the last financial year.
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 >
Jaipur: Rajasthan Staff Selection Board (RSSB) Monday said that from April, those who apply for recruitment exams but fail to turn up on exam day will have to pay a fine. In Nov last year, the board wrote to the state govt to either start an application fee or impose fines, so that attendance in recruitment exams increases. RSSB said if a person applies for any two exams in a financial year (from April 1 to March 30) and does not appear in the exams, they will have to pay a penalty of Rs 750 while filling the next application form. "If a candidate does not appear in four exams, they will hav ...Read More >
New Delhi, May 28 (SocialNews.XYZ) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the interest subvention component under the modified interest subvention scheme (MISS) for loans to farmers during the financial year 2025-26, and approved the required fund arrangements, according to an official statement issued after the meeting. MISS is a Central sector scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan credit cards (KCC). Under the scheme, farmers receive short-term loa ...Read More >
C2C Advanced Systems shares made a strong debut on the NSE SME Emerge platform on December 3, listing at a premium of 90 percent at Rs 429.40 against the issue price of Rs 226. The much-anticipated listing came despite an earlier postponement, which saw a setback for the company after over 3.72 lakh applications worth Rs 27 crore were withdrawn following regulatory action by the Securities and Exchange Board of India (SEBI). C2C Advanced Systems, a vertically integrated defence electronics solutions provider, focuses on indigenously developed products for India's defence sector. Track All I ...Read More >
New Delhi [India], December 4 (ANI): The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, Government of India. The complaint alleged that unknown ...Read More >
Jharkhand supplementary budget: The Jharkhand Assembly on Thursday (December 12) passed the second supplementary budget of Rs 11,697.45 crore for the 2024-25 fiscal year. Following the budget's passage, Speaker Rabindra Nath Mahato adjourned the four-day session of the assembly sine die. Finance Minister Radhakrishna Kishore tabled the second supplementary budget, with the largest allocation of Rs 6,390.55 crore directed to the Women, Child Development, and Social Security Department. This significant funding aims to enhance the government's flagship initiative, the Maiyan Samman Yojana. Und ...Read More >
New Delhi, May 20 (SocialNews.XYZ) Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY ...Read More >
New Delhi, May 22 (SocialNews.XYZ) The pilots of the IndiGo plane, which was damaged in rough weather en route to Srinagar, were denied permission by the Lahore ATC to venture briefly into Pakistan airspace to escape the hailstorm, in complete violation of humanitarian norms. India's civil aviation regulator, the DGCA, said the aircraft was cruising at an altitude of approximately 36,000 feet near Punjab's Pathankot when it ran into a thunderstorm and hailstorm. Experiencing severe turbulence, the crew first requested the Northern ATC of the Indian Air Force to allow the flight to deviate to ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...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 >
New Delhi, Dec 17 (VOICE) Fitness startup Curefit's consolidated loss has increased by 42 per cent to Rs 888.5 crore in FY24 from Rs 625.5 crore in FY23. The company's EBITDA loss surged by 123.4 per cent to Rs 587.97 crore in FY24 from Rs 263.2 crore in FY23. The reason for the increase in the company's loss in the last financial year is the high cash burn. Curefit's advertising and promotion expenditure has increased by 40.67 per cent year-on-year (YoY) basis to Rs 188.5 crore in FY24 from Rs 134 crore in FY23. At the same time, the company's expenditure on legal and professional services ...Read More >
NAGPUR: The state government presented supplementary demands amounting to ₹35,788 crore on the first day of the winter session of the state legislature. This has taken the total sum in supplementary demands presented in the current fiscal to ₹1,30,677 crore, including ₹94,889 tabled in July this year. The supplementary demands tabled so far are 19.43% of the state's budget, and the percentage is expected to go up further, after the last supplementary demands are tabled in February-March 202 ...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 >
New Delhi, Dec 18 (PTI) Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by higher advance tax mop-up, government data showed. Advance tax collection during the period rose 21 per cent to Rs 7.56 lakh crore. The collection includes corporate tax of over Rs 7.42 lakh crore and non-corporate tax mop-up of Rs 7.97 lakh crore. Securities Transaction Tax (STT) of Rs 40,114 crore was collected between April 1-December 17 of current fiscal year. Refunds worth Rs 3.39 lakh crore were issued during the period, registering a ...Read More >
New Delhi, May 29 (PTI) Ipca Laboratories on Thursday said its consolidated net profit increased 14 per cent to Rs 68 crore in the fourth quarter ended March 31, 2025. The drug firm reported a net profit of Rs 60 crore during the January-March quarter of 2023-24 financial year. During the quarter, revenue from operations rose to Rs 2,247 crore as compared to Rs 2,033 crore in the year-ago period, Ipca Laboratories said in a regulatory filing. Net profit stood at Rs 738 crore for 2024-25 fiscal against Rs 547 crore in FY24. Revenue rose to Rs 8,940 crore for the last fiscal from Rs 7,705 cr ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
AHMEDABAD: Homegrown pharma major, Zydus Lifesciences Limited, on Tuesday reported a 17.3% rise in consolidated net profit for FY 2025 at Rs 4,525.5 crore, up from Rs 3,859.5 crore in the previous year, driven by strong US and India sales. The board recommended a final dividend of Rs 11 per equity share, subject to shareholder approval at the AGM on 12 August 2025.For the March quarter (Q4), net profit fell marginally by 1.0% to Rs 1,170.9 crore from Rs 1,182.3 crore a year earlier, impacted by a one-time loss of Rs 220 crore. Adjusted for this, net profit rose 18% year-on-year to Rs 1,390.5 c ...Read More >
Nagpur, May 23 (PTI) India's indigenously developed 'Akashteer' air defence system performed "exceedingly well" during 'Operation Sindoor', said Defence Research and Development Organisation (DRDO) chief Samir V Kamat, who expressed confidence that its success will draw international interest. India had deployed the indigenously developed and fully automated 'Akashteer' air defence control and reporting system, which emerged as the invisible force of new war capabilities during Operation Sindoor, launched against nine terror sites in Pakistan and Pakistan-occupied Kashmir. "Definitely, our a ...Read More >
Zee Entertainment Enterprises Ltd (ZEEL) shares rose 5% on November 29 a day after shareholders rejected proposal to reappoint Punit Goenka as director. The media firm's shares rose over 5% to Rs 132.69 apiece on November 29. In a regulatory filing by the company on November 28, ZEEL said that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted a ...Read More >
Bhubaneswar: The dark dingy room of the jail in the city haunts Bhubanananda Tripathi even after 49 years and some months. The rattling noise of locks and bars, the unhygienic environs, the food that was bereft of taste and the scary nights came alive as Tripathi gets the news that the government of Odisha declares provision of pension to all those who had spent countless sleepless nights in prison during the Emergency in 1975. Tripathy is one of the 1200 brave souls from Odisha who were among 1.1 lakh arrested during Emergency and endured torture, humiliation and their crime was - demanding ...Read More >
West Bengal [India], February 5 (ANI): At the 8th edition of the Bengal Global Business Summit 2025, Bhutanese Minister Younten Phuntsho emphasised the importance of the summit as a platform for strengthening the collaboration between India and Bhutan. Addressing the audience, he said, "For Bhutan, this summit is an opportunity to further deepen our (India-Bhutan) collaboration and identify strategic areas where our shared aspirations align. There are several key areas where we can forge even stronger partnership - first is tourism, we invite investors to explore opportunities in wellness tou ...Read More >
New Delhi, May 23 (PTI) GMR Airports saw its consolidated loss widen to Rs 253 crore in the three months ended March 2025 even as total income rose during the same period. The company had a loss of Rs 168 crore in the year-ago period. The figures are after tax for continuing operations. According to a regulatory filing on Friday, GMR Airports' total income climbed to Rs 2,977 crore in the fourth quarter of 2024-25 financial year from Rs 2,570 crore in the year-ago period. For the 2024-25 fiscal, the company's loss narrowed to Rs 817 crore from Rs 829 crore in the same period a year ago. D ...Read More >
HYDERABAD: CtrlS Datacenters Ltd has entered a strategic partnership with the Bombay Stock Exchange (BSE) to power critical data centre infrastructure for the premier financial institution that caters to over 11 crore investors and processes over 700 crore daily transactions.With trading transitioning to electronic platforms, reliable digital infrastructure has become essential for maintaining market integrity, ensuring transaction security, and providing seamless access to financial services.The strategic collaboration underscores the critical role data centres play in modern financial market ...Read More >
By diluting a part of its stake, or by selling shares worth $500 million, Prosus made gains of over $2 billion just from betting on Swiggy. Food tech and grocery delivery company Swiggy reported a revenue of $750 million (around Rs 6,300 crore) in the first half of financial year 2025 (H1FY25), up 40 percent from $536 million (about Rs 4,500 crore) recorded during the same period last year, Prosus, one of the company's largest shareholders, said in its half yearly disclosures. During the same time, its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) improved ...Read More >
The report highlighted that the investors appear to be exercising caution, reflecting a shift in confidence toward new market entrants. It said, "A mix of disappointing IPO listing and a sharp decline in market sentiments has resulted in reduction in IPO subscription in last 2 months." The report stated that during the current financial year (FY2024), 54 IPOs have been listed, of which 38 are trading above their issue price, suggesting a mixed performance. It added that the historical data from July 2020 to November 2024 provides a broader view, out of 252 IPOs launched during this period, ...Read More >
New Delhi, May 20: Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY24). MobiKwik's r ...Read More >
New Delhi, Feb 5 (UNI) The Union Finance Ministry has asked its officials to avoid using ChatGPT, DeepSeek and other artificial intelligence (AI) tools in office devices as such applications could pose risks to confidentiality of government data and documents. "It has been determined that AI tools and AI apps (such as ChatGPT, DeepSeek etc) in the office computers and devices pose risk for confidentiality of Govt data and documents," read the circular dated January 29, 2025. "It is, therefore, advised that the use of AI tools/AI apps in office devices may be strictly avoided," it further sai ...Read More >
Mumbai, Feb 7 (PTI) Reserve Bank Governor Sanjay Malhotra on Friday said India can certainly achieve over 7 per cent growth rate and the nation should aspire for that. The Reserve Bank of India (RBI) in its bi-monthly monetary policy has projected 6.7 per cent growth for financial year 2025-26, up from 6.4 per cent estimated for the current fiscal. "I would like to stick my neck out and say that, certainly India can achieve a 7 per cent and plus growth rate. We should certainly aspire for that," he said when asked whether there was a possibility of the Indian economy growing at a faster pace ...Read More >
New Delhi, May 22 (SocialNews.XYZ) The Securities and Exchange Board of India (SEBI) is investigating possible violations in the IndusInd Bank case, following the bank's disclosure of suspected fraud and concerns over insider trading, SEBI Chairman Tuhin Kanta Pandey said here on Thursday. He said that while the Reserve Bank of India (RBI) is looking into the accounting discrepancies, SEBI is also doing its part as per its authority. While addressing the media on the sidelines of Assocham's '16th Capital Market Conference' here, Pandey said, "It is RBI's remit, but if there are any serious v ...Read More >
Cyber Monday is a major online shopping event celebrated the Monday after Thanksgiving in the United States. It was created by retailers in 2005 as a way to encourage people to shop online, following the popularity of Black Friday sales. The day has grown in significance over the years, offering deep discounts across a wide range of products, from electronics to fashion, often rivaling the in-store deals of Black Friday. This year, Cyber Monday falls on December 2, 2024, providing consumers with another opportunity to grab deals before the holiday season peaks. The event has become a global ph ...Read More >