On May 3rd, Bajaj Finance witnessed a remarkable surge of 7.5%, reaching Rs 7,400 per share, following the Reserve Bank of India’s (RBI) decision to lift curbs on its two digital lending products, ‘eCOM’ and online ‘Insta EMI Card’, effective immediately. Brokerages maintained a bullish stance on the NBFC giant, foreseeing a positive trajectory for … Read more
Tesla CEO Elon Musk’s recent visit to China has stirred discussions amidst production challenges and data transfer deliberations. Musk, who canceled a high-profile visit to India citing “Tesla related” commitments, has now turned his attention to discussions with Chinese government officials regarding the rollout of Tesla’s Full Self-Driving software and the transfer of data overseas. … Read more
Tata Electronics, a subsidiary of the esteemed Tata conglomerate, has embarked on a groundbreaking endeavor to localize the production of iPhone casings in India. This strategic move represents a significant departure from the reliance on Chinese imports and marks a pivotal moment in India’s journey towards self-sufficiency in high-tech manufacturing. In collaboration with companies based … Read more
April 16, 2024 – The International Monetary Fund (IMF) has raised India’s fiscal year 2024-25 (FY25) GDP growth forecast to 6.8%, an increase from the previous projection of 6.5%. This adjustment reflects India’s strong domestic demand and expanding working-age population, solidifying its position as the world’s fastest-growing major economy. For FY26, the IMF anticipates India’s … Read more
Gold and silver prices soared to fresh all-time highs in India on Tuesday, driven by strong trends in international markets and escalating geopolitical tensions in the Middle East. In New Delhi, gold prices jumped by Rs 700 to reach a record high of Rs 73,750 per 10 grams, according to HDFC Securities. Silver prices also … Read more
NEW DELHI: LIC, India’s state-owned insurance giant, has reported a significant 59% increase in the value of its investments in Adani group companies during the fiscal year 2023-24. This surge comes as the conglomerate rebounded impressively following a period of scrutiny triggered by a controversial short seller report. Data from stock exchanges reveals that the … Read more
India’s foreign exchange reserves have reached an unprecedented high of $648.56 billion for the week ended April 5, according to the Reserve Bank of India (RBI). This is an increase of $2.98 billion from the previous week, and it surpasses the prior record of $645.58 billion set in the last reporting period. The rise in … Read more
Oil prices are anticipated to rise on Monday as market participants react to Iran’s attack on Israel over the weekend, which heightened geopolitical tensions in the Middle East. Analysts noted on Sunday that potential retaliatory actions by Israel and Western allies could drive oil prices even higher. Iran launched explosive drones and missiles at Israel … Read more
Bitcoin’s value dropped 7.9% to $61,842 on April 13, following news of Iran’s retaliatory drone strikes on Israel, according to Reuters. The world’s largest cryptocurrency by market capitalization recovered slightly to trade around $63,000 by the morning of April 14, as per CoinDesk data. Bitcoin’s decline marks a significant drop of 16.2% or $10,000 from … Read more
Automobile exports from India declined by 5.5% in FY24, totaling 45,00,492 units, compared to 47,61,299 units in FY23, according to data shared by industry body SIAM. The drop has been attributed to the monetary crisis in various overseas markets. SIAM President Vinod Aggarwal commented on the decline in exports, citing volatility in overseas markets as … Read more
Tata Consultancy Services (TCS), the Indian IT major, reported its Q4 FY24 results on Friday, surpassing market expectations and suggesting a positive reaction for its shares when the market reopens on Monday, April 15. The company reported a consolidated net profit of ₹12,434 crore, a 9% increase from the ₹11,392 crore recorded in the fourth … Read more
Elon Musk is set to visit India soon, where he will meet with Prime Minister Narendra Modi and other key officials. The high-profile trip is anticipated to last 48 hours, during which Musk is expected to make significant announcements related to Tesla and Starlink. In a recent development, Moneycontrol reports that the Department of Telecommunications … Read more
Mumbai – Tirupati Forge Limited has submitted a compliance certificate to the National Stock Exchange of India Limited (NSE) for the quarter ending March 31, 2024. The certificate was issued in accordance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. In a letter addressed to the NSE, … Read more
Kochi-based Popular Vehicles and Services Ltd. has informed the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) about ongoing GST litigation concerning its subsidiary, Vision Motors Private Limited. The disclosure was made in a regulatory filing on April 13, 2024, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, … Read more
The Reserve Bank of India (RBI) announced the rejection of applications from Dvara Kshetriya Gramin Financial Services Private Limited and Tally Solutions Private Limited for setting up small finance banks. The decision was revealed in a press release issued by the central bank on April 12, 2024. Under the guidelines for ‘on tap’ licensing of … Read more
The initial public offering (IPO) of Greenhitech Ventures Ltd, a small and medium enterprise (SME), launched today, Friday, April 12, and was quickly met with high demand from investors. The IPO was oversubscribed five times within hours of its debut, according to BSE data as of 12:10 pm. The Greenhitech Ventures IPO received bids for … Read more
The Indian stock market faced a sharp decline today, with the benchmark NIFTY50 index falling below the 22,600 mark and the SENSEX dropping over 600 points. Heavy selling pressure in key sectors such as banking and pharmaceuticals contributed to the downturn. As of 1:30 pm, NIFTY50 was trading at around 22,572, down by 0.80%, while … Read more
Tata Consultancy Services (TCS), one of India’s leading IT services and consulting companies, has hired over 10,000 freshers in its latest recruitment drive. This much-awaited hiring spree is seen as a positive step toward revitalizing the job market and providing ample opportunities for new graduates from top engineering colleges across the country. The IT giant’s … Read more
Vodafone Idea, one of India’s major telecom companies, announced that its Rs 18,000-crore follow-on public offer (FPO) will open for subscription on April 18. The FPO is part of the company’s efforts to raise up to Rs 20,000 crore via equity, as approved by its board on February 27. The FPO, which was first reported … Read more
Private sector lender RBL Bank announced on Thursday the appointment of banking industry veteran Murali Ramakrishnan as an independent director on its board. Ramakrishnan brings a wealth of experience to the role, having retired as the managing director and chief executive officer of South Indian Bank earlier this year. His tenure as independent director at … Read more