Russian oil's share in India's crude oil imports drops to 3-qtr low; Middle Eastern oil soars
Dec 23, 2024, at 10:08 pm
New Delhi: India’s crude oil imports in November revealed a significant change, as Middle Eastern oil reached a nine-month high while Russia's share dropped to its lowest in three quarters, Reuters reported, citing ship tracking data from sources.
Sensex, Nifty rebound sharply after five-day slump, buoyed by value buying
Dec 23, 2024, at 09:31 pm
Mumbai: Equity benchmark indices Sensex and Nifty staged a strong recovery on Monday, December 23, 2024, rebounding sharply after five consecutive days of steep losses, media reports said.
Adani to acquire 85.8% stake in Air Works for Rs 400 crore
Dec 23, 2024, at 07:53 pm
New Delhi: The Adani Group announced on Monday its plan to acquire aviation maintenance, repair, and overhaul (MRO) firm Air Works for an enterprise value of Rs 400 crore, media reports said.
Banks seek RBI nod for new swap benchmark to replace MIBOR
Dec 23, 2024, at 07:43 pm
Mumbai: A group of Indian banks has approached the Reserve Bank of India (RBI) seeking approval for a new benchmark to be used in overnight indexed swaps, according to individuals familiar with the discussions, according to a Bloomberg report.
Honda, Nissan eye merger by 2026 amid tough market challenges
Dec 23, 2024, at 05:48 pm
Honda Motor Co. and Nissan Motor Co. are aiming to finalise a merger agreement by June, following negotiations set to begin later Monday, with the merger potentially taking place in 2026, according to Japanese media reports citing unnamed sources, Bloomberg reported.
Google lays off 10% managerial staff to enhance efficiency amid advancement in AI
Dec 20, 2024, at 11:25 pm
Mountain View (California): Google has laid off 10 percent of its managerial staff as part of an ongoing effort to enhance efficiency, aiming to double that number, media reports said.
India's foreign exchange falls to a six-month low of $652.87 billion
Dec 20, 2024, at 10:58 pm
New Delhi: India's foreign exchange reserves declined by nearly $2 billion, reaching a six-month low of $652.87 billion as of December 13, according to data released by the Reserve Bank of India (RBI) on Friday.
CCI approves UltraTech Cement’s acquisition of India Cements
Dec 20, 2024, at 09:09 pm
New Delhi: The Competition Commission of India (CCI) on Friday approved UltraTech Cement’s proposal to acquire a majority stake in India Cements, promoted by billionaire Kumar Mangalam Birla.
Rupee hits record low before recovering; RBI intervention limits volatility amid challenges
Dec 20, 2024, at 08:23 pm
Mumbai: The Indian rupee fell to a record low on Friday before reversing its losses to close slightly higher, buoyed by probable dollar inflows, Reuters reported.
Tata Power Renewable Energy Limited partners with Canara Bank to promote PM Surya Ghar Scheme
Dec 20, 2024, at 05:47 pm
Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has joined hands with state-run Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme.
India flags EU trade barriers, urges resolution amid FTA negotiation progress
Dec 20, 2024, at 05:24 pm
New Delhi: India has raised concerns about the challenges faced by its domestic industries in accessing European Union (EU) markets, urging swift resolution of these issues, according to an official statement on Friday.
India’s EV market to hit Rs 20 trillion by 2030, 50 million jobs projected, says Nitin Gadkari
Dec 20, 2024, at 05:20 pm
New Delhi: India’s electric vehicle (EV) market is projected to grow to Rs 20 trillion by 2030, potentially generating around 50 million jobs within the EV ecosystem, according to Road Transport and Highways Minister Nitin Gadkari.
Nirmala Sitharaman to hold pre-Budget consultations with finance ministers of states
Dec 20, 2024, at 12:28 am
Jaisalmer (Rajasthan): Finance Minister Nirmala Sitharaman is scheduled to hold pre-Budget consultations with state finance ministers on Friday in Jaisalmer, ahead of the Union Budget 2025-26 presentation, media reports said.
CEAT expands retail footprint in Kolkata to meet demand for premium tyres
Dec 19, 2024, at 11:49 pm
Kolkata: Tyre manufacturer CEAT Thursday announced the opening of three new CEAT Shoppe outlets in Kolkata as part of its strategic expansion into premium retail spaces.
NTPC to set up nuclear power project in Bihar
Dec 19, 2024, at 10:08 pm
Patna: Power giant NTPC is planning to establish a nuclear power project in Bihar, marking a significant step in expanding its non-fossil energy portfolio, Chairman and Managing Director Gurdeep Singh said on Thursday.
Dec 19, 2024, at 07:05 pm
New Delhi: Fugitive businessman Vijay Mallya on Wednesday said that banks have recovered Rs 14,131.60 crore from him "against the judgement debt of Rs 6203 crore," yet he remains "an economic offender."
EPFO extends deadline to January 31, 2025, for pending higher pension applications
Dec 19, 2024, at 12:11 am
New Delhi: The Employees' Provident Fund Organisation (EPFO) has extended the deadline to January 31, 2025, for employers to upload wage details related to 3.1 lakh pending applications for higher pension benefits.
Govt appoints Rama Mohan Rao Amara as new MD of SBI
Dec 18, 2024, at 11:19 pm
Mumbai: Rama Mohan Rao Amara has been appointed as the new Managing Director (MD) of the State Bank of India (SBI) for a tenure of three years, according to a Reuters report, the state-owned lender informed the exchanges.
India’s net direct tax collection grows 16.45%, advance tax rises 21% this fiscal
Dec 18, 2024, at 10:53 pm
New Delhi: India’s net direct tax collection rose by 16.45% year-on-year to over Rs 15.82 lakh crore as of December 17 this fiscal, driven by higher advance tax payments, according to government data.
Indians lean towards lightweight, lower carat wedding jewellery amid soaring gold prices: Report
Dec 18, 2024, at 10:10 pm
Mumbai: Many Indian families are forced to buy lightweight and lower-carat jewellery due to skyrocketing gold prices to keep within their budgets, according to a Reuters report.
Govt to meet quick commerce players to review their ops amid rising consumer complaints
Dec 18, 2024, at 07:15 pm
New Delhi: The Commerce Ministry is expected to hold a meeting with quick commerce companies like Zepto and Blinkit later this week, ET Now reported citing sources.
SEBI bans YouTube stock market influencer with 19 lakh subscribers; slaps Rs 9.5 cr penalty
Dec 18, 2024, at 07:03 pm
Mumbai: India's stock market regulator Securities and Exchange Board of India (SEBI), has taken action against YouTuber Ravindra Balu Bharti and his firm, Ravindra Bharti Education Institute, for running an unregistered investment advisory business, media reports said.
Dec 18, 2024, at 12:08 am
Gurugram: Hyper-local e-commerce platform magicpin has entered the quick commerce space for food delivery with the launch of its 'magicNOW' brand, which will initially partner with over 2,000 food brands and 1,000 merchants, the company announced on Tuesday.
Dec 17, 2024, at 11:13 pm
New Delhi: Finance Minister Nirmala Sitharaman told the Lok Sabha on Tuesday that the government views the GDP growth slowdown in Q2FY25 as "a temporary blip" and expects improvement in the upcoming quarters.
Vedanta to pay Rs 3,324 cr in dividend for FY25
Dec 17, 2024, at 10:58 pm
Mumbai: Mining major Vedanta Ltd announced on Monday that its board has approved a fourth interim dividend of Rs 8.5 per equity share for FY25, amounting to Rs 3,324 crore, media reports said.
Sitharaman bats for capex over free cash transfers to boost consumption
Dec 17, 2024, at 09:53 pm
New Delhi: Finance Minister Nirmala Sitharaman on Tuesday asserted that capital expenditure (capex) is a more effective way to boost consumption than simply “putting money in the hands of the people,” media reports said.
Gold purchases set to fall sharply in December after record sales in November: Report
Dec 17, 2024, at 09:37 pm
Mumbai: After gold purchases in India surged to record levels in November, a significant decline is expected in December due to the absence of major festivals and rising prices prompting buyers to postpone purchases, Reuters reported, citing trade and government officials.
Reliance NU Suntech bags 930 MW solar project, 465 MW battery projects from SECI
Dec 17, 2024, at 05:28 pm
New Delhi: Reliance Power on Tuesday said its subsidiary, Reliance NU Suntech, has secured a 930 MW solar project and a 465 MW battery energy storage system (BESS) from the Solar Energy Corporation of India (SECI).
Taiwanese laptop maker MSI starts manufacturing in India at Chennai unit
Dec 17, 2024, at 05:21 pm
Chennai: Taiwanese laptop manufacturer MSI announced on Tuesday the launch of its manufacturing operations in India at its first facility set up in Chennai.
'No concrete plans': ONGC rules out public listing of green energy arm
Dec 16, 2024, at 12:04 pm
Mumbai: Oil and Natural Gas Corporation (ONGC) has issued a clarification addressing speculation about the potential public listing of its subsidiary, ONGC Green Limited (OGL).