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.
LONDON - Thames Valley Housing Association (TVHA), operating as MTVH, has reported an increase in total revenue to $227 million for the six months ending on September 30, 2024, up from $209 million in the same period last year. This growth has been attributed to a 7.7% rise in government social rent and higher sales of new homes, with 147 units sold compared to 116 the previous year. Despite the revenue increase, MTVH experienced a decrease in operating surplus, down to $61 million from $75 million, reflecting a $20 million lower surplus from fixed asset disposals year-on-year. Consequently, the operating margin shrank to 27% from 36%, and the total surplus fell to $14 million from $35 million. Investments in property improvements and safety have also risen, with $20 million spent on capitalised improvement works and $8 million on fire safety, marking increases from the previous year's figures. MTVH highlighted its commitment to resident satisfaction and engagement, noting that its Tenant Satisfaction Measures (TSM) are ahead of peers. The company's development program is on track to deliver 569 new homes in the full year, with 236 completed in the first half. The financial position of MTVH remains robust, with $675 million in available liquidity and an improved S&P Group rating of A- (Stable outlook). Fitch Ratings, however, downgraded the rating to A- (Stable outlook) in September 2024. Mel Barrett, the newly appointed CEO of MTVH, expressed confidence in the company's resilient business model and strong balance sheet. He also emphasized MTVH's efforts to provide financial support to residents and to invest in new developments to address the need for affordable homes. The company's trading overview indicates a 9% increase in total revenue compared to last year, driven by rent increases and higher sales revenues. Operating costs have risen to $163 million due to inflationary pressures, and the surplus from disposals has decreased. MTVH remains on track with its development projects, with significant investments in new developments and expectations to deliver around 569 new homes for the full year. Looking ahead, MTVH anticipates full-year turnover and operating surplus to align with its budget, with asset disposal surplus expected to increase in the second half of the fiscal year. However, the organization cautions that the economic and geopolitical environments remain challenging, with high inflation and interest rates posing risks. This trading update and financial results are based on a press release statement from MTVH.
Alber doubled Williams-Sonoma's business since 2010 and widened the margin; growth is expected to continue and support a healthy capital return. There are many reasons to own a stock, and the CEO is one of them. The right CEO can be the defining factor in a company's success, shaping operations, driving growth, and delivering substantial shareholder returns. Strong leadership often signals not just steady performance but transformative potential. Brian Niccol and Laura Alber are prime examples of how executive vision can create lasting value. Their track records at Chipotle Mexican Grill Inc ...Read More >
India's manufacturing sector growth fell to a joint 11-month low, restricted by competitive conditions and inflationary pressures India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-r ...Read More >
YORK, UK - In a move to strengthen its position in the equine health market, Animalcare Group Plc (AIM: ANCR) has announced the conditional acquisition of Randlab, a prominent Australian equine veterinary business. The deal, valued at A$120 million (approximately £62.2 million), is expected to significantly boost Animalcare's earnings in 2025. The purchase agreement, involving Animalcare's newly formed subsidiary Animalcare Australia Pty Ltd, encompasses Randlab's entire issued share capital, including its New Zealand and Middle Eastern operations. The acquisition is financed through a combin ...Read More >
Bengaluru, 4th December 2024- PURE EV, one of India's leading electric two-wheeler manufacturers, has unveiled an ambitious roadmap to strengthen its presence nationwide and expand globally while introducing innovative solutions for sustainable mobility. Over the next 30 months, the company aims to add 250 new dealerships, taking its total network to over 320 across India. The expansion will be driven by the growing demand for long-range scooters, electric motorcycles, large B2B contracts, and the company's entry into the house-hold brand space. Dr. Nishanth Dongari, Founder & MD of PURE EV, ...Read More >
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 >
NEW DELHI (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for nearly half of the consumption basket. Vegetable prices rose 29.33% in November from a year earlier after rising 42.18% in October. Indi ...Read More >
New Delhi, Dec 26 (PTI) The Metropolitan Stock Exchange of India (MSE) is set to raise Rs 238 crore from four entities including Billionbrains Garage Ventures, Groww's parent, and Zerodha's Rainmatter Investments in a bid to stay afloat. Others who invested in MSEI are -- BSE-listed Share India Securities, and Securocorp Securities India. The exchange's board in its meeting on Tuesday approved the issuance of 1.19 billion equity shares at Rs 2 per share, comprising Rs 1 face value and Rs 1 premium to these four investors through a private placement, according to a disclosure on MSEI's websit ...Read More >
Bengaluru -- Gold prices rose for a second session on Tuesday as the dollar weakened, with markets evaluating the possible consequences of US President Donald Trump's policies in his second term after his inauguration. Spot gold gained 0.6% to $2,724.74/oz by 2.40am GMT. US gold futures was 0.2% lower at $2,742.50. The dollar was down about 1% after reports suggested any new taxes would be imposed in a "measured" way. A weaker dollar makes gold more attractive to foreign buyers. "There is a sense of relief in risk sentiment to know that tariffs have not been an immediate focus. The unwindin ...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 >
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 >
Exagen Inc. (NASDAQ:XGN) CEO John Aballi Signals Confidence with Stock Purchase Amid Strong Q3 Performance John Aballi, CEO of Exagen Inc., recently purchased 24,305 shares at $2.81 each, raising his ownership to 689,799 shares. This move follows the company's strong Q3 results, with $12.5M in revenue and an 8% year-to-date growth driven by a 45% surge in selling prices. Exagen unveiled advanced biomarkers for lupus and rheumatoid arthritis, enhancing its AVISE CTD test platform. With $22M in cash and a projected $55-$56M full-year revenue, Exagen aims for profitability by 2025. Boasting a ...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 >
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 >
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 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...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 >
Mumbai (Maharashtra) [India], November 28: Pioneering furniture fittings solutions brand Hettich India is proud to announce that it has been officially certified as a Great Place to Work, a recognition that celebrates the company's unwavering commitment to creating an ecosystem where everybody thrives. Also Read | Diljit Dosanjh Concert in Kolkata 2024: Planning to Attend Dil-Luminati Tour, Don't Miss These 5 Must-Try Local Foods. This honor is especially meaningful, with an overwhelming 95% participation from employees helping Hettich India. It reflects a shared commitment to creating a fam ...Read More >
Key U.S. data this week includes the job openings due later in the day, the ADP employment report on Wednesday and the payrolls report on Friday. "The next big thing is going to be the payrolls on Friday night because it'll tell us whether the Fed is essentially going to green-light the interest rate cut in a couple of weeks," said Kyle Rodda, financial market analyst at Capital.com. Fed Governor Christopher Waller on Monday said with inflation still forecast to fall to 2%, he is inclined "at present" to support another rate cut later this month. The comments boosted expectations of a rate ...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 >
New Delhi, Feb 4 (PTI) Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, low ...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 >
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 >
Mumbai, Dec 18 (PTI) Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said. The 30-share BSE benchmark tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. As many as 2,563 stocks de ...Read More >
Hyderabad: Databricks, the Data and AI company, announced its Series J funding. The company is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion and is led by Thrive Capital. Along with Thrive, the round is co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other significant participants include existing investor Ontario Teachers' Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management. The company has seen increased momentu ...Read More >
PNN Hyderabad (Telangana) [India], December 6: We are thrilled to announce that ABSYZ Software Consulting, a Youngsoft company, and a trusted Salesforce partner since 2014, has been elevated to Salesforce Summit Partner status, the highest recognition within the Salesforce consulting ecosystem. This milestone highlights ABSYZ's unwavering commitment to excellence, innovation focused on customer needs, and delivering transformative results for clients through its global Salesforce implementations. As one of the elite 5% of Salesforce consulting partners worldwide, this achievement reflects ou ...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 >
MUMBAI (Reuters): The Indian rupee weakened to its lifetime low on Tuesday, hurt by concerns about a widening trade deficit and likely outflows from local equities, although intervention by the central bank capped losses. The rupee hit a low of 84.93 against the US dollar, before closing at 84.8950, down 0.04% on the day. Benchmark Indian equity indexes BSE Sensex and Nifty 50, closed lower by over 1% each, dragged by weakness in financial stocks and Reliance Industries. Investor sentiment was also dampened after data on Monday showed that India's merchandise trade deficit rose to a record h ...Read More >
New Delhi: Zerodha co-founder and CEO Nithin Kamath has tweeted regarding his analysis of stock market data, that showed Mumbai and Ahmedabad account for 80 percent of the equity delivery trade. Kamath tweeted, "Ahmedabad and Mumbai account for 80% of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus. Btw, Gujarat accounts for just 8% of the total registered investors, and the share has been falling." A lot of reactions poured in on X (formerly Twitter) on Kamath's post. Co-founder of Freecharge and the founder of CRED Kunal Shah promptly responded saying " ...Read More >
Mumbai: Indian stock markets on Wednesday opened near the flatline on a cautious note, tracking the subdued sentiment in Asian markets. At the opening of the trade, Nifty at National Stock Exchange (NSE) started at 24,204.80, up 10.30 points and Sensex at 80,121.03, up by about 122 points. In the opening trade, the stocks of Coal India, Adani Enterprises, Mahindra and Mahindra, Adani Ports, and Kotak Banks were the top gainers. On the other hand, IndusInd Bank, Cipla, Tata Consumer Products, Bharti Airtel, and UltraTech Cement were the major losers on the NSE. Among the sectoral indices, Aut ...Read More >