As the small car segment continues to witness gradual decline with affordability factor coming into play, Maruti Suzuki India on Monday called for incentives to spur the sales. Entry cars priced below Rs 5 lakh, which used to be around a million units (9,34,538 units) in FY16, have declined to just 25,402 units in FY25 and accounting for less than 30% at...
Business
SpaceX’s Starship megarocket blows up over Indian Ocean in latest bumpy test
SpaceX’s prototype Starship exploded over the Indian Ocean on Tuesday (May 27, 2025), capping another bumpy test flight for the rocket central to billionaire Elon Musk’s dream of colonising Mars. The biggest and most powerful launch vehicle ever built lifted off around 6:36 p.m. (2336 GMT) from the company’s Starbase facility, near a southern Texas village that earlier this month...
Markets surge for second day; Sensex jumps 455 points, Nifty climbs 148 points
Benchmark indices Sensex and Nifty surged on Monday (May 26, 2025) due to a host of positive triggers, as U.S. President Donald Trump delayed 50% EU tariffs to July 9, 2025 The 30-share BSE benchmark gauge Sensex jumped 455.37 points or 0.56%, to settle at 82,176.45. During the day, it surged 771.16 points or 0.94%, to 82,492.24. .
Monsoon reaches Maharashtra a day after Kerala, earliest onset in 35 years
The southwest monsoon arrived in Maharashtra on Sunday (May 25, 2025), making it the earliest onset of the annual rainfall season over the state in 35 years, the India Meteorological Department said. The southwest monsoon is expected to advance to Mumbai and some other parts over the next three days, the IMD added. In 1990, southwest monsoon made onset over Maharashtra on...
IndusInd Bank posts net loss of Rs 2,329 cr in Q4 amid accounting discrepancies
IndusInd Bank Ltd on Wednesday said it posted a consolidated net loss of Rs 2,328.92 crore in the January-March 2025 quarter as against a profit of Rs 2,349.08 crore in the corresponding period last fiscal. The crisis-hit private lender earned an interest of Rs 10,633.84 crore in Q4 FY25, down 12.83 per cent compared to Rs 12,198.53 crore in the...
Reliance Power to build Bhutan’s largest solar project in ₹2,000 cr JV
Anil Ambani-led Reliance Power has partnered with Bhutan’s Druk Holding and Investments (DHI) to develop the country’s largest solar power project in a ₹2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model. The project is expected to be the largest private sector foreign direct investment (FDI) in Bhutan’s solar sector...
Cabinet approves Rs 3,706 cr HCL-Foxconn semiconductor JV in UP’s Jewar
The Union Cabinet has approved a joint venture between HCL and Foxconn to set up a chip assembly and packaging unit in Uttar Pradesh, making it the sixth project to receive approval under the government’s ambitious Rs 76,000 crore India Semiconductor Mission. The plant will attract an investment of Rs 3,706 crore, with around Rs 1,500 crore coming from the...
India’s retail inflation eases to a 6-year low of 3.16% in April
India’s retail inflation eased to a six-year low of 3.16 per cent in April from 3.34 per cent in March, driven by a further moderation in food prices. This marks the third consecutive month that inflation has remained below the Reserve Bank of India’s 4% medium-term target. A Reuters poll of 43 economists suggested inflation fell to 3.27% in April. Food inflation,...
Adani Power Wins Contract To Supply 1,500 MW Electricity To UP
The Uttar Pradesh Cabinet has approved the signing of a power purchase agreement (PPA) between the Uttar Pradesh Power Corporation Limited (UPPCL) and Adani Power Limited (APL) for the supply of 1,600 MW of power over a period of 25 years. APL had secured the bid through a competitive bidding process conducted in October 2024. The power will be supplied...
Aditya Birla to sell paper, pulp business to ITC for Rs 3,498 cr
Aditya Birla Real Estate Limited (ABREL), the realty arm of the Aditya Birla group, on Monday said it got board approval for selling its pulp and paper businesses to ITC for Rs 3,498 crore via a slump sale. According to the business transfer agreement, Century Pulp and Paper (CPP), situated in Lalkuan, Uttarakhand, will be divested and sold to ITC,...
IndiGo hit with Rs 944 cr tax penalty
InterGlobe Aviation, the parent company of IndiGo, has been slapped with a penalty order of Rs 944.20 crore by the Income Tax Department for the assessment year 2021-22. The airline, however, has termed the order “erroneous and frivolous.” According to IndiGo, the penalty was imposed by the Assessment Unit of the Income Tax Department, while an additional fine of Rs...
Sensex jumps 1,078 points on FII inflows, gains in banks
Benchmark equity indices Sensex and Nifty surged more than 1% on Monday (March 24, 2025) amid fresh foreign fund inflows and buying in banking and oil & gas shares. The NSE Nifty surged by 307.95 points or 1.32% to 23,658.35. Intra-day, the benchmark zoomed 358.35 points or 1.53% to 23,708.75. “A positive trend in the U.S. and European markets powered...