Boeing to layoff 10% workforce to boost efficiency but risks losing top talent: Report
Nov 14, 2024, at 09:42 pm
Boeing Co. will begin issuing layoff notices on Wednesday to employees impacted by its latest round of job cuts, a move that reflects the company's effort to boost efficiency while striving to retain a skilled workforce critical for future growth, Bloomberg reported.
Continuous FPI sell-off drives Rs 27,680 crore outflow from Indian equities in November
Nov 14, 2024, at 08:30 pm
Mumbai/IBNS: Foreign portfolio investors (FPIs) continued their withdrawal from the Indian stock market on Wednesday, marking the 33rd consecutive day of outflows.
Piyush Goyal calls on companies to lower prices to boost consumption
Nov 14, 2024, at 08:13 pm
New Delhi/IBNS: During a period when India Inc. is concerned about weakened consumer demand amidst a cyclical slowdown, Commerce and Industry Minister Piyush Goyal suggested that businesses prioritise competitive pricing over high margins to attract consumers.
Piyush Goyal says RBI should definitely cut interest rates; central bank's governor responds
Nov 14, 2024, at 08:08 pm
New Delhi/IBNS: Union Commerce Minister Piyush Goyal advocated for an interest rate cut by the Reserve Bank of India (RBI) on Thursday (Nov. 14), emphasizing that food inflation should not be a determining factor in rate decisions.
Bitcoin surges past $93,000 amid Trump's pro-crypto stance
Nov 14, 2024, at 06:14 pm
Mumbai/IBNS: Bitcoin surged past $93,000 on Thursday (Nov. 14), hitting a record high as its upward trend gained strength, driven by optimism about potential pro-crypto regulatory policies under President-elect Donald Trump and expectations of further interest rate cuts by the US Federal Reserve.
India's outward FDI grows $3.24 billion in Oct 2024: RBI data
Nov 14, 2024, at 06:32 am
Mumbai: India’s outward foreign direct investment (FDI) commitments reached $3.24 billion in October 2024, rising from $2.55 billion in October 2023. However, on a month-over-month basis, commitments declined from $3.77 billion in September 2024, according to the Reserve Bank of India (RBI).
India inches closer to non-fossil fuel target as renewable energy capacity crosses 200 GW
Nov 14, 2024, at 02:55 am
New Delhi: India’s total renewable energy capacity has crossed 200 GW (gigawatt), aligning with the country's ambitious renewable energy target of achieving 500 GW from non-fossil sources by 2030.
India's automobile industry registers robust growth in October 2024: SIAM report
Nov 14, 2024, at 02:21 am
New Delhi: India’s automotive sector demonstrated resilient growth in October 2024, with total vehicle production reaching 28.83 lakh units, a 9.9% increase from the previous year, according to the latest SIAM report.
Nov 13, 2024, at 11:50 pm
Mumbai: Reliance Retail is temporarily shutting down several stores in its Centro department chain as part of a strategic repositioning to emphasize its in-house brands and labels, many of which are launched in India under licensing partnerships, The Economic Times reported.
India’s edible oil imports drop 3.09% to 159.6 lakh tonnes
Nov 13, 2024, at 10:51 pm
New Delhi: India’s edible oil imports dropped by 3.09% to 159.6 lakh tonnes in the 2023-24 oil marketing year, primarily due to increased domestic oilseeds production and a decline in demand amid rising prices, according to the Solvent Extractors Association of India (SEA).
Hyundai Motor India aims to establish itself as a global production hub amid rising demands
Nov 13, 2024, at 09:14 pm
Mumbai/IBNS: Hyundai Motor India is intensifying efforts to establish India as a key production hub for emerging markets, responding to increased domestic and export demand, the company said on Wednesday (Nov. 13).
Swiggy shares jump 15% following modest market debut
Nov 13, 2024, at 08:53 pm
Mumbai/IBNS: Online food ordering and delivery company Swiggy's shares launched on the National Stock Exchange (NSE) with a 7.69 percent premium on Wednesday (Nov. 13), opening at Rs 420 per share compared to its IPO price of Rs 390.
Market crash: Sensex, Nifty 50 fall for 5th consecutive session; drops over 9% from peak
Nov 13, 2024, at 07:21 pm
Mumbai/IBNS: Indian markets continued their downward trend for the fifth consecutive session on Wednesday (Nov. 14) influenced by weak global cues, a strengthening dollar, a depreciating rupee, and persistent foreign investor outflows.
India’s industrial output rebounds with 3.1% growth in September, driven by manufacturing
Nov 13, 2024, at 06:08 am
New Delhi: India's industrial output increased by 3.1% in September 2024, primarily due to a recovery in manufacturing activity, according to data from the Ministry of Statistics and Programme Implementation.
ONGC Q2FY25 standalone net profit grows 17% to Rs 11,984 cr
Nov 13, 2024, at 03:15 am
Mumbai: State-owned ONGC reported a 17% rise in standalone net profit for the quarter ending September 2024, reaching Rs 11,984 crore compared to Rs 10,238 crore a year earlier, media reports said.
Nykaa's Sept qtr consolidated net profit jumps 66% to Rs 13 cr
Nov 13, 2024, at 02:57 am
Mumbai: FSN E-Commerce Ventures, the parent company of the omnichannel beauty and fashion retailer Nykaa, reported a 66% increase in its consolidated net profit for the quarter ending September 2024, reaching Rs 13 crore compared to Rs 7.8 crore in the same quarter last year, media reports said.
India may consider lowering tariffs on goods that don't impact domestic industry: Sitharaman
Nov 13, 2024, at 02:51 am
New Delhi: In response to U.S. President-elect Donald Trump’s recent remarks labelling India as the ‘biggest’ imposer of import tariffs, Finance Minister Nirmala Sitharaman indicated on Tuesday that she may reconsider increased tariffs on goods that do not impact the domestic industry, media reports said.
NTPC Green Energy seeks valuation of $12 billion for IPO: Report
Nov 13, 2024, at 01:55 am
Mumbai: NTPC Green Energy Ltd., a subsidiary of state-run NTPC Ltd., is reportedly aiming for a valuation of around $12 billion in what could be one of India’s largest IPOs in the renewable energy sector, Bloomberg reported.
Swiggy hiring top Flipkart, Amazon executives amid expansion plans
Nov 13, 2024, at 01:15 am
Mumbai: Amid expansion plans, food delivery major Swiggy is hiring more executives from e-commerce companies like Walmart-owned Flipkart and Amazon, with at least 12 senior executives from these companies stepping into Swiggy, Moneycontrol reported on Tuesday.
India's Oct retail inflation peaks 12-month record to 6.2%
Nov 13, 2024, at 12:54 am
New Delhi: India’s retail inflation reached a 14-month peak of 6.2% in October, up from 5.5% in September, driven primarily by escalating food inflation due to rising vegetable prices.
Hyundai Motor India's Q2FY25 profit drops 16.5% to Rs 1,338 cr
Nov 12, 2024, at 11:17 pm
Mumbai: Hyundai Motor India, India’s second-largest automaker by market share, reported a 16.5% drop in quarterly profit, attributed to weaker domestic sales and export disruptions from Red Sea tensions, Reuters reported.
Air India completes merger with Vistara, creating India’s largest full-service carrier
Nov 12, 2024, at 11:12 pm
New Delhi/IBNS: The Air India Group has successfully completed the operational integration and legal merger of Air India and Vistara, finalizing a major step in its post-privatization transformation.
Nov 12, 2024, at 09:43 pm
New Delhi/IBNS: Elon Musk's Starlink is making progress with its license application in India, with Telecom Minister Jyotiraditya Scindia confirming on Tuesday (Nov. 12) that the Elon Musk-led company is working to fulfill government-mandated security requirements.
RIL to invest Rs 65,000 crore in Andhra Pradesh for 500 biogas plants
Nov 12, 2024, at 09:11 pm
Mumbai/IBNS: Reliance Industries Ltd (RIL) is gearing up to make its largest investment outside of Gujarat, committing Rs 65,000 crore to construct 500 compressed biogas plants in Andhra Pradesh over the next five years, as reported by The Economic Times.
Elon Musk's Starlink agrees to data security rules, satcom license application back on track: Report
Nov 11, 2024, at 11:03 pm
New Delhi/IBNS: Starlink’s application for an India license is advancing after the satellite broadband provider, led by Elon Musk, agreed to meet India's data localization and security requirements, Moneycontrol reported, citing its sources, on Monday (Nov. 11).
Govt to summon Flipkart, Amazon executives over FDI rules violations: Report
Nov 11, 2024, at 10:49 pm
New Delhi/IBNS: The Indian government is set to summon executives from Flipkart and Amazon as part of an expanded investigation into potential violations of foreign investment regulations, according to a report by Reuters.
Monthly mutual fund SIP inflow hits all-time high, crosses Rs 25,000 crore mark for first-time
Nov 11, 2024, at 10:31 pm
Mumbai/IBNS: Monthly contributions to mutual fund SIPs (Systematic Investment Plans) reached an all-time high of Rs 25,323 crore in October, surpassing September’s figure of Rs 24,509 crore.
Nov 11, 2024, at 09:56 pm
New Delhi/IBNS: Zomato recently introduced a new feature called "Food Rescue" that lets users purchase cancelled food orders at a discount, a move aimed at reducing food waste.
Food Rescue: Zomato introduces new feature to reduce food wastage
Nov 11, 2024, at 09:53 pm
New Delhi/IBNS: India's leading multinational restaurant aggregator and food delivery company Zomato has launched a new feature called "Food Rescue," which allows users to purchase cancelled food orders at a discounted price to help reduce food waste.
Nov 11, 2024, at 09:42 pm
Mumbai/IBNS: To ensure companies follow rules on unpublished price sensitive information (UPSI) thoroughly, the Securities and Exchange Board of India (SEBI) is aiming to expand the list of corporate events that would qualify as UPSI.