The Indian economy is likely to achieve a growth rate of 7% in fiscal year 2025 aftergrowing at or above 7% in 2023-24, driven by resilient domestic demand despite risksand uncertainties in the global economic landscape, according to a review of theeconomy unveiled on Monday. It also said India can aspire to become a $7...
Billionaire Mukesh Ambani’s Reliance Industries Ltd. is heading for a record high as a confluence of bullish factors including the ongoing Red Sea crisis help the stock break out of a tight trading range that lasted well over two years. The shares climbed as much as 5.8%, the most since May 2022, putting India’s largest...
Prime Minister Narendra Modi will likely use India’s last budget before the elections to woo voters with new spending measures, while avoiding a fiscal deficit increase. The economy’s rapid expansion has led to a tax windfall for the government, helping it meet its goals of curbing the deficit. That means Finance Minister Nirmala Sitharaman, who...
Last week, Gautam Ashra, head of Kanji Pitamber & Co, a 103-year-old forex brokerage, got a buyout offer from a private equity firm. “I told them to wait; will think and let them know.” Firms like Ashra’s are in the spotlight in the backdrop of Mint Road’s ‘Draft Licensing Framework for Authorised Persons (APs) under the...
India’s stock market is booming, and its value has ballooned so much that it overtook Hong Kong’s on Monday, Bloomberg reported. The total value of shares on Indian exchanges hit $4.33 trillion at Monday’s close, compared to Hong Kong’s $4.29 trillion, according to data compiled by Bloomberg, making it the fourth largest stock market in the...
Air India Express, the low-cost carrier of the Tata Group, plans to increase its fleet size from the current 64 aircraft to 180 by the end of 2028, the company’s managing director Aloke Singh said. “Air India Express will take delivery of three new aircraft every month and one additional aircraft every other month in...
More than 25 crore Indians have been pulled out from poverty during the nine and half years of the BJP-led NDA government under the leadership of Prime Minister Narendra Modi, said Union Minister Sarbananda Sonowal. Speaking at a public gathering in Kendrapara district on Friday, the Union Minister of Ports, Shipping and Waterways and Ayush...
Plastic products maker Supreme Industries Ltd on Friday reported an increase of 22 per cent in its consolidated net profit to Rs 256.17 crore in the third quarter ended December 2023. The company had posted a net profit of Rs 210.03 crore in the October-December period a year ago, according to a regulatory filing. Its...
About Rs 1,515 crore was disbursed in FY24 till October, while it was Rs 2,900 crore in 2022-23, when payments under the scheme commenced. The government in 2021 announced PLI schemes for 14 sectors with an outlay of Rs 1.97 lakh crore. “Incentive amount of around Rs 4,415 crore disbursed under PLI Schemes for eight...
Adani Group announced its commitment to provide new 350 sq ft flats to eligible residents of the Dharavi slum clusters. Engaged in the redevelopment of Dharavi slums in partnership with the Maharashtra government, the Adani Group emphasized that the size of these flats is “17 per cent more” than those typically offered in slum redevelopment...