Tata Motors announced on Wednesday that it will increase the price of its commercial vehicles from 1st July 2024, up to 2%, the automaker said in an exchange filing. This decision comes in response to escalating commodity prices, aiming to mitigate their impact. The price adjustment will affect the entire spectrum of commercial vehicles offered by Tata Motors, with specific increases...
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Adani Ports gets nod for ₹45,000 crore Mundra expansion
Adani Ports & Special Economic Zone (APSEZ) reportedly got a key environmental and coastal regulation zone approval to more than double the capacity of Mundra port at an investment of ₹45,000 crore. APSEZ applied to Ministry of Environment’s Expert Appraisal Committee (EAC) seeking permission to raise the capacity at the port, Economic Times reported. “EAC, after examining the documents submitted by...
India reports 6th strongest hiring outlook globally in Sept quarter
India ranks sixth globally for its employment outlook for September quarter 2024, with 30 per cent of businesses planning to increase their staff over the next three months, according to a global survey by workforce solutions company ManpowerGroup. India’s Net Employment Outlook (NEO), calculated by subtracting employers planning reductions versus those planning to hire, stood at 30 per cent. It...
Unstoppable bull run! Sensex, Nifty hit fresh lifetime highs
Indian benchmark equity indices, Sensex and Nifty50, opened with fresh record highs onMonday, led by index heavyweight Reliance Industries and banking stocks.The BSE Sensex was trading 321 points, or 0.42%, higher at 77,014. The Nifty50 was up 110 points, or0.47%, trading at 23,400 around 9:19 am. This is the first time that Sensex hashit the 77,000 mark. Agencies Reliance Industries,...
Looking forward to ‘exciting work’ in India, says Musk; congratulates Modi
American tech billionaire Elon Musk on Friday said he is looking forward to his companies doing “exciting work” in India as he congratulated Prime Minister Narendra Modi on his historic election victory. Modi will be administered the oath of office on June 9, his third consecutive term as Prime Minister. Congratulations @narendramodi on your victory in the world’s largest democratic...
Closing Bell: Sensex zooms 1,619 points, Nifty around 23,300; all sectors in the green
The two key equity benchmarks, Sensex and Nifty, on Friday extended their rally into a third day after the RBI kept the repo rate unchanged at 6.5 per cent. While all the NDA members formally accepted and appointed Narendra Modi as the leader of the alliance and backed his candidature for the Prime Minister’s post for a third term. At...
Coming soon, India-assembled flagship Range Rover model by JLR
For the first time in over half a century, Jaguar Land Rover Automotive Plc (JLR), the British arm of Tata Motors, will assemble its flagship luxury sports utility vehicles Range Rover and Range Rover Sport outside the UK, choosing India. This shift underscores JLR’s commitment to local manufacturing and tapping into India’s growing luxury car market, a top company executive...
Centre targets Rs 10k cr. from monetisation of ports in FY25
With the aim of increasing the share of public-private partnership (PPP) in ports, the Centre will look to monetise assets worth Rs 10,000 crore in 2024-25 (FY25), according to multiple sources familiar with the developments. The Ministry of Ports, Shipping and Waterways has submitted a monetisation pipeline of Rs 10,000 crore, consisting of five-seven projects, to NITI Aayog — the...
Adani group mcap regains $200 bn-mark
Adani Group’s market capitalisation on Wednesday regained USD 200 billion-mark (Rs 16.9 lakh crore) after its listed firms gained Rs 11,300 crore as investors reposed faith on the company denying any wrongdoing in supply of coal to Tamil Nadu power company. With Rs 11,300 crore gain on Wednesday, the apples-to-airport conglomerate gained Rs 56,250 crore in market capitalisation in the...
GDP growth rate likely to be 6.7% in Q4, around 7% in FY24: Ind-RA
India Ratings and Research expects the country’s GDP growth rate for the March quarter at 6.7 per cent and around 6.9-7 per cent for the 2023-24 fiscal, its principal economist Sunil Kumar Sinha said. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be released by the government on...
Tesla’s shareholder group slams CEO Elon Musk’s $56 billion pay package
A coalition of Tesla Inc. shareholders is urging other investors to reject a $56 billion pay package for Chief Executive Officer Elon Musk at the company’s June 13 annual meeting, posing a threat to one of the world’s largest fortunes. Amalgamated Bank, SOC Investment Group and six other signatories that hold a small portion of Tesla stock said Musk is...
‘India used to be a nation of savers, it is becoming a nation of investors’: Uday Kotak
Veteran banker Uday Kotak on Friday highlighted that India has fast changed from a nation of savers to a nation of investors. Speaking at the CII annual business summit on Friday, Kotak noted that India had a ‘rough history’ in the financial sector between 2010 and 2020. He further noted that earlier companies used to go to foreign exchanges to...