On Saturday, Google reinstated all previously removed Indian apps after the Narendra Modi government intervened in the matter. Following intervention by the Narendra Modi government, Google restored all Indian apps it had previously removed, as reported by ANI. Union Minister of Electronics and IT, Ashwini Vaishnaw, has taken a firm stance on the issue and … Read more
The robust 8.4% real GDP growth recorded in the third quarter stands in stark contrast to the sobering reality of household consumption and income trends. Recent data from the national expenditure survey, released after an 11-year hiatus, reveals a modest 3% growth in real consumption over the past 11 years, while the Periodic Labour Force … Read more
In a notable development reshaping the global market dynamics, chipmaker Nvidia has achieved a significant milestone by surpassing Saudi Aramco to secure the third position among the world’s largest companies based on market capitalization. This shift marks a significant transition within the global market landscape, with tech behemoth Nvidia now overtaking Saudi Aramco to secure … Read more
Amid an ongoing dispute between Google and start-ups in India, the tech giant has taken action by removing 10 apps from its Play Store. This move comes as a response to Google’s imposition of a fee ranging from 11 to 26 percent on in-app payments, following an order from the Competition Commission of India (CCI) … Read more
In February 2024, GST collections surged by 12.5% to reach ₹1.68 lakh crore compared to the same period last year. This growth was driven by an uptick in both domestic sales and imports, contributing to the robust revenue figures. According to a statement from the finance ministry, the gross Goods and Services Tax (GST) revenue … Read more
Japan’s Nikkei 225 came close to surpassing the 40,000 level, leading the gains in Asian stocks on Friday. The index achieved a fresh record high, closing 1.9% higher at 39,910.82. The broader Topix index also experienced a positive trend, adding 1.3% to reach 2,709.42 by the end of the session, marking a weekly increase of … Read more
In Friday’s early trading, Dow Jones futures showed minimal movement, mirroring the stability seen in S&P 500 futures and Nasdaq futures. As the trading day commenced on Friday, there was little change observed in Dow Jones futures, reflecting a similar trend in S&P 500 futures and Nasdaq futures. On Wednesday, the stock market rally surged … Read more
Foreign investor Apis Growth 6 has divested 1,00,00,000 shares of Star Health and Allied Insurance, representing a 1.7 percent stake, at Rs 553.01 per share. This move comes as Apis reduces its stake from 4.32 percent as of December 2023. Meanwhile, ICICI Prudential Life Insurance has increased its holdings in Star Health and Allied Insurance … Read more
Earlier today, Google initiated the removal of Android applications developed by major Indian app developers due to violations of its app billing policy. The action by Google to take down Android apps from leading Indian app developers for violating its app billing policy commenced earlier today. According to sources at Moneycontrol, Info Edge-owned businesses Naukri … Read more
Government Implements Windfall Tax Elimination on Diesel Starting March 1, Maintains Zero Tax on Petrol and Aviation Turbine Fuel. According to a government order issued on Thursday, February 29, the government has raised the windfall tax on petroleum crude from ₹3,300 to ₹4,600 per metric ton, effective March 1. Additionally, the order indicates a notable … Read more
India’s industrial production has undergone notable expansion, propelled by a thriving manufacturing sector. The Index of Industrial Production (IIP) mirrors this upward trajectory, underscoring the sector’s robustness and its ability to foster growth. India’s manufacturing sector has emerged as a key driver of the nation’s industrial growth, contributing substantially to its economic trajectory. The Index … Read more
The 2024 special trading session hosted by NSE and BSE is integral to their Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) framework. This initiative underscores the exchanges’ commitment to ensuring seamless operations during emergencies. The special trading session scheduled by NSE and BSE for 2024 plays a pivotal role in their Business Continuity … Read more
India Maintains Title of World’s Fastest Growing Major Economy with 8.4% Expansion in Q4 2023. India has once again proven its economic prowess by achieving a remarkable growth rate of 8.4% in the final quarter of 2023, reaffirming its position as the world’s fastest growing major economy. The announcement comes amidst preparations for the upcoming … Read more
According to V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the primary driving force behind market dynamics is the remarkable Q3 GDP growth rate, surpassing expectations at 8.4 percent. Vijayakumar emphasizes the importance of recognizing that the Gross Value Added (GVA) aligns with projections at 6.5 percent. The disparity between GDP and GVA stems … Read more
In the wake of a January inflation report that aligned with expectations, an early morning surge in stocks tapered off on Thursday, coinciding with a decline in bond yields. As Thursday afternoon unfolded, the Nasdaq Composite demonstrated resilience with a 0.5% uptick, while the S&P 500 edged up by 0.3%. Conversely, the Dow Jones Industrial … Read more
The merger between Suven Pharma and Cohance Lifesciences is anticipated to be finalized within the next 12-15 months, pending the necessary approvals from shareholders and regulatory authorities. This timeline underscores the meticulous process required to solidify the transaction and reflects the companies’ commitment to ensuring a seamless transition. Stay tuned as both entities navigate through … Read more
“The highly anticipated semiconductor fab, slated to be located in Dholera, is set to revolutionize India’s technological landscape. With an impressive capacity of 50,000 wafers per month, the facility promises to bolster the nation’s semiconductor manufacturing capabilities,” stated IT Minister Ashwini Vaishnaw during a significant announcement on February 29. On Thursday, February 29, the Union … Read more
GPT Healthcare Makes Strong Stock Market Debut, Begins Trading at 16% Premium Over IPO Price. The much-anticipated listing of GPT Healthcare exceeded market expectations on February 29, with the stock debuting at a premium of 16% over its IPO price on both the NSE and the BSE. Despite initial optimism, GPT Healthcare’s stock quickly dipped … Read more
Industry analysts anticipate that the agreement will enhance Reliance’s standing in India’s highly competitive video streaming industry. Reliance Industries’ highly anticipated joint venture with Walt Disney Co., merging the operations of Viacom18 and Star India, is poised to significantly strengthen the conglomerate’s presence in India’s second-largest internet market, particularly in the realm of video streaming. … Read more
According to a recent Reuters poll, economic growth in India is forecasted to reach 6.6% in the three months ending on December 31st, indicating a slowdown from the 7.6% growth recorded in the previous quarter and 7.8% growth in the July quarter. It’s worth noting that India’s fiscal year commences on April 1st. India’s Economic … Read more