In an unprecedented move, the Gujarat Cooperative Milk Marketing Federation (GCMMF) is gearing up to launch four variations of Amul fresh milk in the United States, marking a significant milestone as the brand expands beyond Indian borders for the first time. This strategic initiative is tailored to cater to the preferences of the Indian diaspora … Read more
A visually impaired beggar in Guwahati, Assam, made headlines recently for his innovative approach to seeking alms. He was spotted using a PhonePe QR code card worn around his neck, allowing donors to make digital payments. A video capturing the moment of him receiving an online payment further underscored technology’s ability to break socioeconomic barriers. … Read more
Following the parliamentary elections, industry insiders anticipate differing approaches from Reliance Jio and Bharti Airtel regarding tariff adjustments. While Bharti Airtel plans to implement a hike in headline tariffs, Reliance Jio is poised to focus on initiatives aimed at fostering increased data consumption, potentially enticing users to upgrade to higher-priced plans. This strategy is anticipated … Read more
As unemployment concerns loom, the Federal Reserve weighs the option of reducing interest rates, despite inflation worries. Powell’s unwavering focus on curbing a potential downturn in employment underscores the Fed’s dedication to safeguarding the labor market. This proactive stance toward preserving jobs may serve as a crucial pillar for the economy and could potentially buoy … Read more
As tensions rise amidst increasing sanctions on tech imports from the US and its allies, China has introduced stringent measures in retaliation. The latest guidelines announced by China effectively prohibit the use of Intel and AMD products in computers operating within government networks and systems. As per a report by the Financial Times on Sunday, … Read more
Indian stock exchanges, namely BSE and NSE, observed a day of closure on Monday, March 25, as the nation celebrated the vibrant festival of Holi. This week, trading activity will be limited to only three sessions, as both exchanges will remain shuttered on Friday, March 29, in observance of Good Friday, thus marking a truncated … Read more
In a recent study conducted by the World Inequality Lab, it has been revealed that India’s wealthiest 1 percent now holds the highest concentration of wealth witnessed in over six decades. The study highlights a stark reality: a small fraction of the population commands a significantly larger portion of the country’s wealth. Moreover, it indicates … Read more
In a recent survey conducted by industry body FICCI and banking association Indian Banks’ Association (IBA), it was discovered that public sector banks in India are outperforming their private sector counterparts in managing non-performing assets (NPAs), referring to loans or advances at risk of default. The survey revealed that a significant majority (77 percent) of … Read more
Equity markets and gold prices soared following the announcement from US Fed Chairman Jerome Powell signaling three anticipated interest rate cuts throughout the year, commencing in June. Thursday saw key benchmarks, Sensex and Nifty, kickstart on a positive trajectory, experiencing a notable surge of over one percent each. With a remarkable climb of 540 points, … Read more
In the opening trade on March 21, shares of Jupiter Wagons surged by 4% following the successful completion of the acquisition of Bonatrans India Private Limited (BIPL) for Rs 271 crore. Through a share purchase agreement with existing shareholders, Jupiter Wagons has now officially made BIPL its subsidiary. Located in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra, BIPL … Read more
Federal Reserve Chair Jerome Powell addressed recent inflation concerns on Wednesday, emphasizing that despite elevated readings, the fundamental narrative of gradually alleviating price pressures remains unchanged in the U.S. The central bank maintained its course for three anticipated interest rate cuts this year, affirming expectations for sustained economic growth. In its latest update, the Fed … Read more
Krishnamurthy Venkata Subramanian, India’s executive director at the International Monetary Fund (IMF), underscored the imperative of sustained 8% growth to effectively address poverty and inequality by generating sufficient employment opportunities. Subramanian’s remarks emphasize the critical link between economic growth and social development. India’s economy exhibited robust performance in the final quarter of 2023, surpassing expectations … Read more
Echoing concerns raised by the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) has expressed apprehensions regarding the escalating froth observed in the small and midcap segments of the market. In its latest monthly bulletin, the RBI highlighted the prevailing dynamics, noting, “Stocks continue to surge in a robust bull … Read more
In a recent development, Amit Manchanda, who formerly served as the Vice President-Legal and Compliance Officer at Radico Khaitan, has found himself at the center of controversy, being fined a substantial amount of Rs 5 lakh for contravening insider trading regulations. This penalty, imposed by the Securities and Exchange Board of India (Sebi), underscores the … Read more
On March 20, the Sensex and Nifty embarked on a tumultuous journey, navigating through a landscape of fluctuating gains and losses before eventually settling marginally higher. Investors, adopting a cautious stance, found themselves in a state of anticipation as they awaited the much-anticipated policy announcement from the US Federal Reserve. Concurrently, local factors continued to … Read more
A groundbreaking partnership between the JSW Group and MG Motor India is set to revolutionize the automotive industry, promising the launch of a new ‘new energy’ vehicle every three to four months starting September, announced a senior executive. With a monumental investment of $750 million (approximately ₹5,000 crore), the joint venture aims to produce an … Read more
The Sensex and Nifty, India’s primary stock market indices, relinquished their early gains and slipped into negative territory on March 20, extending losses from the previous trading session. By 11:02 am, the Sensex had declined by 155.32 points, or 0.22%, to reach 71,856.73, while the Nifty was down by 44.40 points, or 0.20%, standing at … Read more
JP Morgan, a leading brokerage firm, expresses bullish sentiment towards engineering, research, and development (ER&D) companies, citing their resilience amid market challenges. In contrast to IT companies, ER&D firms have exhibited robust growth, positioning CY24 as a year of recovery, according to the brokerage’s analysis. With a substantial and enticing total addressable market, these companies … Read more
Eicher Motors Limited witnessed a significant 4% surge in morning trade on March 20, following a bullish move by global brokerage UBS, which upgraded its rating to ‘buy’. UBS analysts foresee a potential upside of up to 35%, raising the price target on Eicher Motors stock to Rs 5,000. This upgrade comes on the back … Read more
