The Indian rupee (INR) has remained largely range-bound as compared to both its emerging market peers and a few advanced economies during 2023-24 and was the most stable among major currencies during this period, RBI Governor Shaktikanta Das said on Friday.
India's GDP growth for 2024-25 is projected at 7 per cent while the forecast for inflation for the year has been retained at 4.5 per cent, RBI Governor Shaktikanta Das said on Friday.
India's services sector growth accelerated in March on the back of strong demand, leading to employment increasing at the fastest rate in seven months and export business expanding at a record pace during the month, according to an HSBC survey released on Thursday.
The Government e-Marketplace (GeM) has closed the 2023-24 financial year with a Gross Merchandise Value (GMV) of a staggering Rs 4 lakh crore which is double that of the corresponding figure for the previous fiscal year (2022-23), the Commerce and Industry Ministry said on Friday.
Among the Sensex stocks, Bajaj Fnserv is up more than 4 per cent, Bajaj Finance is up more than 3 per cent. M&M is up 3.3 per cent, SBI is up 2.8 per cent, Powergrid is up 2.5 per cent, L&T is up 2.3 per cent.
India's foreign exchange reserves surged by $6.4 billion to touch a robust $642.5 billion for the week ended March 15, the latest data released by the RBI on Friday showed.
The uncertainty regarding the Fed decision is over with the Fed keeping the rates unchanged and refraining from a hawkish message, says V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Lithium-ion battery pack maker Lohum secured $54 million (Rs 450 crore) in series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners and Venture East, among others.
Petrol and diesel across India will be cheaper by around Rs 2 per litre from early on Friday as the oil marketing companies have revised prices, the Petroleum and Natural Gas Ministry announced on Thursday.
India's inflation rate based on the Wholesale Price Index (WPI) eased to 0.2 per cent in February, from 0.27 per cent in January, data released by the Commerce and Industry Ministry on Thursday showed.
There was a sharp decline in cooking oil prices during February which came down by as much as 11.67 per cent. The price rise in spices slowed to 13.51 per cent compared to 16.36 per cent in January.
Coal sector PSUs such as Coal India Ltd and NLCIL have surpassed the annual target of 21,030 crore capital expenditure (CAPEX) fixed for the current financial year ending on March 31, 2024 with a total investment of Rs 22,448.24 crore at the end of February, the Coal Ministry said on Saturday.
A sharp recovery was seen in the Nifty post noon on Wednesday. At close, Nifty was up 118 points, or 0.53 per cent, to close at 22,474.05 levels, said Deepak Jasani, Head of Retail Research at HDFC Securities.
BSE Sensex jumped more than 1,000 points on Friday reacting to India’s impressive GDP numbers. Sensex was trading up by 1045.99 points up by 1.44 per cent at 73,549.64 points.
The Adani Portfolio of companies on Thursday reported a record quarterly profit growth of 63.6 per cent (year-on-year), as trailing 12-month EBITDA (as of December 2023) stood at Rs 78,823 crore ($9.5 billion), which is 2.5 times the EBITDA in FY21 and 37.8 per cent higher than FY23 EBITDA.
The high growth rate of 8.4 per cent in the October-December quarter has been driven by a double-digit growth in manufacturing sector of 11.6 per cent, followed by a good growth rate of construction sector (9.5 per cent).
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Thursday approved the establishment of three semiconductor fabrication (fab) units that will start construction within the next 100 days and generate direct employment of 20,000 advanced technology jobs and nearly 60,000 indirect jobs.
The Food Safety and Standards Authority of India (FSSAI) has certified 150 railway stations across the country as Eat Right Stations, as part of its initiative to ensure safe, hygienic, and nutritious food options for millions of passengers who traverse the country's vast railway network, according to an official statement issued on Thursday.
The meeting, which took place in the backdrop of the RBI action against Paytm Payments Bank, was attended by representatives of fintech firms such as Google Pay, PhonePe, Amazon Pay and RazorPay, as well as top officials of the National Payments Corporation of India (NPCI).
In a volatile session, Nifty ended in the green on Thursday, touching a fresh record high helped by positive global cues, said Deepak Jasani, Head Retail Research at HDFC Securities.
The government’s strategy to reach the $300 billion level in production of electronics from the current level of about $75 billion is built on broadening and deepening electronics manufacturing in the country.
The growth rate in India’s business activity accelerated to a 7-month high in February driven by a strong demand for both manufacturing and services, according to a private economic survey released on Thursday.
Nifty extended its gains for the sixth consecutive session on Tuesday, once again touching a fresh record high in the last hour of trade, said Deepak Jasani, Head of Retail Research at HDFC Securities.
The Ministry of Coal is planning to hold an interaction with industry leaders in Mumbai on Wednesday as part of a roadshow for the promotion of coal/lignite gasification projects nationwide.
It said that to support the rubber industry, planting of rubber will be undertaken in 12,000 hectares (ha) in traditional areas during 2024-25 and 2025-26 with an outlay of Rs 43.50 crore.
