Friday, June 21, 2024

Business

Sensex jumps 141 points, Nifty closes above 23,550

MUMBAI: India's benchmark indices closed in the green on Thursday following a rally in metal and banking stocks.

Union Budget: Real estate sector calls for renewed push towards affordable housing in metros

NEW DELHI: Riding on supportive policy interventions and rising disposable incomes, India’s real estate sector is growing and needs a renewed push for affordable housing, especially in and around metro cities, from the Union Budget 2024-25, industry experts said on Thursday.

Indian bonds' inclusion in JPMorgan index set to attract record foreign fund inflows

MUMBAI: Indian bonds are set to attract record foreign fund inflows on June 28 when they will be included in JPMorgan's Emerging Market Index.

Building Wealth with Certainty: The Power of Fixed Deposits

Building wealth with certainty is a primary goal for many investors, especially in a market environment that could be volatile. Fixed deposits (FDs) are a popular savings tool in India, offering security and reliable returns over a specified tenor. They provide numerous benefits, such as predictable returns, safety, and flexibility. Understanding how to maximise these benefits could help you achieve financial stability and growth.

RBI to be positioned as model for Global South: Shaktikanta Das

MUMBAI: RBI Governor Shaktikanta Das on Thursday said that "necessary policy actions" are on the anvil for positioning the Reserve Bank as a model central bank of the Global South.

India becomes third-largest domestic airline market

NEW DELHI: Driven by robust growth in the aviation sector in the last decade, India is now the third-largest domestic airline market in the world, up from 5th position 10 years ago.

India to make huge progress on back of young population, rapid development: NSE CEO

MUMBAI: Riding on a young talented population, rapid technological developments and overall economic growth, India will be able to generate more wealth in comparison to other countries in years to come, Ashish Kumar Chauhan, Managing Director and CEO of National Stock Exchange (NSE) said.

AI platform OrbitShift raises $7 million to expand product footprint

NEW DELHI: AI-native sales operating system OrbitShift on Thursday said it has raised $7 million in seed funding led by Peak XV’s Surge and Stellaris Venture Partners.

SBI board approves to raise up to Rs 20,000 crore via long-term bonds

NEW DELHI: The State Bank of India (SBI) on Wednesday announced it would raise long-term bonds up to Rs 20,000 crore via a public issue or private placement during the ongoing financial year (FY25).

India Oil inks pact for biofuel joint venture with GPS Renewables

NEW DELHI: Public sector giant Indian Oil Corporation announced on Wednesday that it has signed an agreement with GPS Renewables Private Limited to form a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.

Sensex ends flat as Titan and Bharti Airtel top losers

MUMBAI: Indian equity indices closed flat on Wednesday as Titan, Bharti Airtel and Maruti Suzuki were top losers.

Indian Gen Z workers more motivated to work when management delivers on promises: Report

NEW DELHI: Gen Z employees in India are more motivated to work when they see management deliver on promises and when they can bring their authentic selves to work, a report showed on Wednesday.

VC firm GVFL unveils Rs 100 crore fund to nurture up to 30 startups

NEW DELHI: Venture capital firm GVFL on Wednesday announced the first close of its new Seed Stage fund, Prarambh Fund, raising Rs 100 crore to nurture 25-30 promising seed startups in the next one year.

There has never been a better time to be an Indian: Gautam Adani

MUMBAI: There has never been a better time to be an Indian, and within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months, putting us on track to be a $30 trillion economy by 2050, Gautam Adani, the Chairman of the Adani Group, said on Wednesday.

Public sector banks beat private rivals in efficiency parameter: SBI study

MUMBAI: Public sector banks in India record a higher level of "efficiency" compared to their private sector counterparts, according to a study conducted by the State Bank of India (SBI).

India likely to get below normal rains in June as monsoon slows: IMD

NEW DELHI: The average rainfall for the country as a whole is most likely to be below normal in June as the progress of the monsoon has slowed, according to an India Meteorological Department (IMD) forecast on Wednesday.

India stems wealth exodus amid robust economic development: Report

NEW DELHI: Buoyed by overall economic development, India has stemmed its wealth exodus, with just 4,300 millionaires projected to leave the country in 2024 -- compared to 5,100 last year, a new report has projected.

RBI Governor expects growth in April-June quarter to surpass 7.2 pc estimate

MUMBAI: RBI Governor Shaktikanta Das expects the strong growth momentum of the last financial year to continue into the April-June quarter of the current financial year, bolstered by strong fundamentals of the economy.

Sensex and Nifty trade higher, banking stocks in top gear

MUMBAI: India equity indices opened in the green on Wednesday following which top private banks like IndusInd Bank, ICICI Bank and Axis Bank have become top gainers in Sensex.

Cushman & Wakefield, Lockheed Martin delegations meet Telangana CM

HYDERABAD: Delegations of Cushman & Wakefield and Lockheed Martin called on Telangana Chief Minister A. Revanth Reddy on Tuesday.

US, India must remain at forefront of technology to defend their value systems: Ajit Doval

NEW DELHI: In the era of artificial intelligence (AI), semiconductors, bio-tech and other emerging technologies, the US and India must remain at the forefront of technology to protect and defend their value systems, India's National Security Advisor (NSA) Ajit Doval said here on Tuesday.

Nothing to unveil CMF Phone 1 on July 8 in India

NEW DELHI: London-based consumer tech brand Nothing on Tuesday announced the official date for the full unveiling of CMF Phone 1, which is July 8.

India's NBFC sector now world's 3rd largest, next only to USA & UK

NEW DELHI: India's non-banking financial sector has grown to become the third largest in the world, next only to the United States and the United Kingdom, according to an SBI report that highlights the growing strength of the country’s financial sector.

Rental price growth slows down 50 pc in top cities as housing supply surges: Report

MUMBAI: A surge in housing supply resulted in a nearly 50 per cent drop in rental price growth in top cities in the second quarter this year (to date) -- registering a 2-4 per cent quarterly rise which is down from 4-9 per cent in the first quarter this year, a report showed on Tuesday.

Renewables, roads, realty sectors to see 38 pc growth to reach Rs 15 lakh crore in 2 years: Report

NEW DELHI: Riding on supportive policy interventions, investment in India’s key infrastructure sectors — renewable energy and roads – and real estate are likely to grow 38 per cent in the fiscals 2025 and 2026, compared with the previous two fiscals, to Rs 15 lakh crore, a report showed on Tuesday.

India's pharma exports clock double-digit growth amid surging demand in US, UK

NEW DELHI: India’s pharmaceutical exports continue to register double-digit growth, reflecting the strong demand for the country’s affordable generic medicines in global markets led by the USA and UK.

Fitch raises India's GDP growth forecast for FY25 to 7.2 pc

NEW DELHI: Global rating agency Fitch on Tuesday raised India's GDP growth forecast for FY25 to 7.2 per cent, from 7 per cent.

Sensex, Nifty hit new all-time high on strong global cues

MUMBAI, Indian equity frontline indices opened in green on Tuesday following positive global cues. In the early trade, Sensex and Nifty made a new all-time high of 77,326 and 23,573 respectively.

SaaS firm IBS Software appoints Somit Goyal as CEO

NEW DELHI: Software-as-a-Service (SaaS) solutions provider IBS Software on Monday announced the appointment of Somit Goyal as its new Chief Executive Officer (CEO), effective immediately.

Indian firms fast adopting Digital Twin tech to boost transformation: Report

NEW DELHI: As the government doubles down on the 'Digital Twin' technology adoption, 90 per cent of the enterprises in the country are aware of digital or virtual twins that could play a crucial role in accelerating their growth journey, a report showed on Monday.

Sitharaman to hold pre-budget talks with India Inc, farmers’ bodies, state FMs this week

NEW DELHI: Finance Minister Nirmala Sitharaman will hold consultations with apex industry chambers, farmers’ associations and state finance ministers in the run-up to the full budget for 2024-25 that is expected to be presented in late July.

Foreign investors make a stellar comeback to Indian equity markets with Rs 11,730 crore inflow

MUMBAI: Foreign investors were selling equity in Indian markets for the last few months. The trend changed from the previous week when Foreign Institutional Investors (FIIs) invested Rs 11,730 crore in the Indian equity market.

Are Wireless Home Security Cameras Really Worth It?

In an age where technology seamlessly integrates into our daily lives, the realm of home security has seen a significant evolution. Among the latest innovations are wireless home security cameras, promising to provide peace of mind and enhanced surveillance capabilities to homeowners. But are these devices truly worth the investment?

Indian banks have bounced back in 10 years with 4-fold jump in profits: Report

NEW DELHI: Indian banks have bounced back over the last 10 years with a 4-fold increase in profits and a sharp decline in bad loans, according to a report by capital markets and investment group CLSA.

Market Outlook: Monsoon, Budget, other factors to drive markets this week

MUMBAI: India stock markets will remain closed on Monday on the account of Eid-ul-Adha. Trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will resume on Tuesday.

SK Group chairman claims 'critical error' in divorce ruling

SEOUL: SK Group Chairman Chey Tae-won said on Monday that he has decided to appeal a record divorce ruling, which threatens his grip on the telecom-to-energy conglomerate, to the Supreme Court because there was a "critical error" in the calculation of his estranged wife's contribution to the group's growth.

Mumbai retains top spot as India's most expensive city for expats: Survey

MUMBAI: The financial capital of India has retained the top spot as the most expensive city for expats in the country, followed by Delhi, a report showed on Monday.

Shares of Hyundai Motor jump as it files for India unit IPO worth $3 billion

SEOUL: Shares of Hyundai Motor, South Korea's leading carmaker, jumped here on Monday as it confirmed that its India unit has filed for an initial public offering (IPO) to raise around $3 billion (Rs 25,000 crore).

Indian startups raise $202 million, over 100 pc jump from last week

NEW DELHI: The fundraising by the Indian startup ecosystem reclaimed its upward trend this week with nearly $202 billion via 21 deals.

Indian stock markets breaking global benchmarks in equity market cap

NEW DELHI: As Indian stock markets continue to touch fresh new highs almost every day post the formation of the new government, they are also breaking global benchmarks.

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