India’s GDP growth in Q1 FY24 will stand at 8.3 per cent as compared to the Reserve Bank of India’s (RBI) estimate of 7.8-8.0 per cent, noted the latest State Bank of India’s Economic Research Department’s report, SBI Ecowrap. The report added that total FY24 growth will be higher than 6.5 per cent. The...
Jio Financial Services, the demerged financial services unit of Reliance Industries, had a volatile market debut on Monday. Shares of Jio Financial Services hit the lower circuit after slipping 5 per cent to a low of ₹ 248.90 apiece. On BSE, the company’s shares were trading 5 percent lower at 251.75 apiece at 1:53 PM. Jio Financial...
The rupee pared its initial gains and settled for the day lower by 2 paise at an all-time low of 83.10 (provisional) against the US dollar on Thursday, weighed down by a strong greenback overseas and a negative trend in domestic equities. Forex traders said rupee is likely to trade with a negative bias on...
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank’s comfort zone of 6 per cent, said an article in the RBI’s monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in...
Shares of Adani Power plunged 4 per cent in Wednesday’s trade, only to recover someof the lost ground amid a media report suggesting a promoter entity likely sold sharesin a block deal to a marquee global fund.As per the report, a total of 8.1 per cent of the company’s total equity changed handsvia block deals....
Twitter is long gone, welcome X. That’s Elon Musk’s vision for the social media company moving forward. It appears Musk truly wants to move away from the company’s old identity under Jack Dorsey and later Parag Agrawal’s leadership. Under his watch, he wants nothing to do with Twitter, but it’s all about X. Recently, the...
Reliance Industries (RIL’s) annual report released on Sunday highlighted the company’s focus on new energy solutions, with Chairman and Managing Director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders’ approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently...
Limited (SBI) on Friday reported a 178.24 per cent year-on-year (YoY) rise in standalone net profit at Rs 16,884.29 crore for the June quarter compared with Rs 6,068.08 crore in the same quarter last year. This was the record net profit for the fourth quarter in a row. The profit figure also came in better...
Months after a meeting between Prime Minister Narendra Modi and Elon Musk in the US, Tesla India Motors and Energy Private Limited leased office space in the Panchshil Business Park of Maharashtra’s Pune. This is seen as a major step towards the entry of EV giant Tesla into the Indian market. Earlier, senior officials from Tesla...
The Enforcement Directorate (ED) on Tuesday raided Hero MotoCorp CEO Pawan Munjal’s residence after it took cognisance of a Directorate of Revenue Intelligence (DRI) case. The DRI recently apprehended one of Munjal’s close aides in possession of undeclared foreign currency. Officials told news agency PTI that these raids against Munjal are a part of a...