Category: Business

Business

Rupee falls 5 paise to 83.54 against U.S. dollar in early trade

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Rupee falls 5 paise to 83.54 against U.S. dollar in early trade

Image for representation only | Photo Credit: Reuters The rupee depreciated 5 paise to 83.54 against the U.S. dollar in early trade on Thursday, weighed down by elevated crude oil prices. Forex traders said a positive trend in domestic equities, wherein benchmark indices touched all-time high levels and significant foreign fund inflows supported the rupee…

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Sensex, Nifty hit fresh lifetime high levels in early trade

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Sensex, Nifty hit fresh lifetime high levels in early trade

Brokers react as Sensex ends above 79k, Nifty 50 surpasses 24,000 for the first time, in Kolkata on July 3, 2024 | Photo Credit: ANI Equity benchmark indices Sensex and Nifty hit their lifetime peaks in early trade on Thursday, amid firm global market trends, buying in blue-chip stocks and robust FIIs inflows. The 30-share…

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Personal loans disbursed via digital apps have the highest share of overdue accounts: Data

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Personal loans disbursed via digital apps have the highest share of overdue accounts: Data

Until the mid-2010s, banks used to lend massive loans to big industries. When these businesses failed, their loans turned sour. Such bad loans stayed hidden for sometime. In 2015, the Reserve Bank of India (RBI) carried out a review, following which skeletons tumbled out of the closet. The share of bad loans reached as high…

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India faces high debt, but sustainable for now: NCAER Director General Poonam Gupta

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India faces high debt, but sustainable for now: NCAER Director General Poonam Gupta

At nearly 82% of GDP, India’s public debt is very high, but the country doesn’t face debt sustainability issue on account of high growth rate and higher share of local currency debt, NCAER Director General Poonam Gupta has said. | Photo Credit: iStockphoto At nearly 82% of GDP, India’s public debt is very high, but…

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Equity returns over next 3 years will not be as good as last three: Franklin Templeton MF

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Equity returns over next 3 years will not be as good as last three: Franklin Templeton MF

Franklin Templeton. File. Equity market returns for investors in the next three years will not be as good as the last three years, a senior official from Franklin Templeton MF said on July 3. Its chief investment officer for emerging markets equity R Janakiraman, however, told reporters that the returns will be “respectable” and outperform…

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Business

States’ GST kitty expected to rise 13%-14% this year: CRISIL

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States’ GST kitty expected to rise 13%-14% this year: CRISIL

Money spinners: Sales tax collections from petro products, which constitute 7-8% of revenue, were projected to grow 3-4%. File photo. | Photo Credit: A.M.FARUQUI Revenues of India’s top 18 States are likely to grow by 8%-10% this fiscal year to about ₹38 lakh crore, accelerating from a 7.5% uptick in 2023-24, largely aided by a…

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Renewable energy firm ACME Solar Holdings files papers for ₹3,000-crore IPO

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Renewable energy firm ACME Solar Holdings files papers for ₹3,000-crore IPO

Renewable energy firm ACME Solar Holdings Ltd has filed preliminary papers with capital markets regulator Sebi to raise ₹3,000 crore through an initial public offering (IPO). The Gurugram-based company’s proposed IPO is a combination of fresh issue of shares worth ₹2,000 crore and an offer for sale (OFS) of shares valued ₹1,000 crore by ACME…

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Business

Tyre makers facing severe crunch in domestic natural rubber availability: ATMA

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Tyre makers facing severe crunch in domestic natural rubber availability: ATMA

A tyre manufacturing unit in Erode district in Tamil Nadu. | Photo Credit: SPECIAL ARRANGEMENT Automotive Tyre Manufacturers’ Association on July 3 said its members are witnessing a ‘severe crunch’ in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of…

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Business

India’s rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

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India’s rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. | Photo Credit: PTI A sovereign rating upgrade for India in the next…

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Govt said to plan raise in rural housing subsidies by 50% after election setback

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Govt said to plan raise in rural housing subsidies by 50% after election setback

Under the PM Awas Yojna (Rural) housing scheme, the government aims to facilitate construction of an additional 20 million houses over the next few years. File. | Photo Credit: Ranjeet Kumar India plans to increase state subsidies on rural housing in the upcoming Union Budget by as much as 50% from the previous year to…

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