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China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. Exports fell to $281.8 billion as the decline widened from June’s 12.4% fall, customs data showed Tuesday. Imports tumbled 12.4% from a year earlier to $201.2 billion in a sign…
India needs to retain “fiscal firepower” to effectively manage exogenous shocks as there has been no favourable change in global headwinds and associated risks since the presentation of the Union Budget in February, the Finance Ministry said on Tuesday. The ministry had at the time cited “unprecedented global uncertainties that may adversely affect medium-term projections”…
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Revenue from operations also fell 8.66% to ₹52,991 crore. Aditya Birla Group’s Hindalco Industries Ltd. reported first-quarter consolidated net profit slid 40% from the year-earlier period to ₹2,454 crore on account of ‘unfavourable macros and subdued volumes,’ the company said in a filing. EBITDA at Novelis decreased to ₹3,456 crore from ₹4,334 crore a year…
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Coal India on August 8 posted a 10.1% fall in its consolidated net profit to ₹7,941.40 crore for the quarter ended on June 30, dragged by higher expenses. FIle | Photo Credit: The Hindu Coal India on August 8 posted a 10.1% fall in its consolidated net profit to ₹7,941.40 crore for the quarter ended…
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File. | Photo Credit: Paul Noronha Benchmark equity indices fell on August 8 as investors turned cautious ahead of the key events — RBI’s monetary policy and the U.S. inflation data — due to be announced later this week. Continuous foreign fund outflows and weak trend in Asian and European markets also played spoilsport for…
Representational image only. | Photo Credit: Reuters Benchmark equity indices fell in early trade on August 8 despite a firm beginning as investors preferred to remain on the sidelines ahead of the key events — Reserve Bank of India (RBI’s) monetary policy and the U.S. inflation data — due later this week. Continuous foreign fund…
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Indian Rupee notes are seen in this picture illustration. | Photo Credit: REUTERS The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday, August 8, 2023 as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Forex traders said the rupee is trading…
File. | Photo Credit: V. RAJU Individuals reporting annual total income of over ₹1 crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed. As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22, 1,69,890 individuals have…
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File. | Photo Credit: Arunangsu Roy Chowdhury The benchmark equity indices ended with gains on Monday, extending the previous day’s rally, unfazed by a weak trend in global markets amid buying in Mahindra & Mahindra, Infosys, Tata Consultancy Services and Reliance Industries. However, continuous foreign fund outflows prevented the markets from registering a sharp rally….
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Image used for representative purpose only. | Photo Credit: REUTERS The rupee gained 10 paise to 82.71 against the U.S. dollar in early trade on Monday tracking positive domestic equities. However, sustained foreign fund outflows and strength of the American currency in the overseas market dented investor sentiments, forex traders said. At the interbank foreign…
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