Category: Business

Business

Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%

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Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%

Billionaire Gautam Adani’s family infused an additional ₹8,339 crore in Ambuja Cements, raising its stake in the company to 70.3%, to help the cement maker’s manufacturing capacity. The Adani family previously invested ₹5,000 crore in the company on October 18, 2022, and ₹6,661 crore on March 28, 2024. With the latest investment, it has completed…

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Business

India’s crude oil import bill falls, but import dependency hits new high

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India’s crude oil import bill falls, but import dependency hits new high

Data from the Oil Ministry showed that India paid $132.4 billion for oil imports in FY24. File | Photo Credit: Reuters India’s crude oil import dropped 16% in the fiscal year ended March 31 due to lower international rates, but the dependency on overseas suppliers rose to a new high, official data showed. India imported…

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Flights to be halted for 5 hours on April 21 at Thiruvananthapuram airport for religious procession

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Flights to be halted for 5 hours on April 21 at Thiruvananthapuram airport for religious procession

The procession of the Sree Padmanabhaswamy temple, as part of the Painkuni festival, crosses the runway of the Thiruvananthapuram international airport in Kerala. File | Photo Credit: C. Ratheesh Kumar Flight services from the international airport in Thiruvananthapuram will be suspended for five hours on April 21 for the smooth continuation of the holy ‘Painkuni…

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Congress’ economic agenda seeks to derail India’s economic growth trajectory: Milind Deora

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Congress’ economic agenda seeks to derail India’s economic growth trajectory: Milind Deora

A file photo of Shiv Sena leader Milind Deora. | Photo Credit: EMMANUAL YOGINI Shiv Sena’s Rajya Sabha member Milind Deora has claimed that the Congress, which once ushered in economic reforms, currently has a divisive economic agenda which seeks to derail India’s economic growth trajectory. In an interview to PTI, Mr. Deora said the…

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India not reaping benefits of demographic dividend: Raghuram Rajan

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India not reaping benefits of demographic dividend: Raghuram Rajan

Former RBI governor Raghuram Rajan said regardless of whether one picks services, manufacturing, agricultural construction, India has a problem. File | Photo Credit: PTI India is not reaping the benefits of demographic dividends, former RBI governor Raghuram Rajan said on April 16, emphasising that there is a need to focus on improving the human capital…

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Business

Why has India allowed FIIs to invest in its green bonds? | Explained

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Why has India allowed FIIs to invest in its green bonds? | Explained

Solar panels installed next to a wheat field at Vahelal village, about 40 km from Ahmedabad. | Photo Credit: AFP The story so far: On April 5 the Reserve Bank of India (RBI) green lighted investments in the country’s Sovereign Green Bonds (SGrBs) by Foreign Institutional Investors (FIIS) — investors such as insurance companies, pension…

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ZEE withdraws from NCLT application to merge operations with Sony

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ZEE withdraws from NCLT application to merge operations with Sony

Zee Entertainment logo | Photo Credit: Reuters ZEE Entertainment Enterprises Ltd on Tuesday said it has withdrawn its application, seeking implementation of the merger with Sony, filed before the National Company Law Tribunal Mumbai bench. The company filed an application with the NCLT on January 24, 2024, seeking directions on the implementation of a composite…

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IMF forecasts India’s economy to grow 6.8% this fiscal year

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IMF forecasts India’s economy to grow 6.8% this fiscal year

 London The International Monetary Fund (IMF) on Tuesday raised its growth projection for India’s GDP in the current fiscal year 2024/25 to 6.8%, and forecast a 6.5% expansion next year. The latest FY25 forecast is a 0.3 percentage point upward revision from January’s projection, the IMF said in its World Economic Outlook April 2024, released…

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Business

Rupee falls 14 paise to close at 83.57 against U.S. dollar

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Rupee falls 14 paise to close at 83.57 against U.S. dollar

File. | Photo Credit: Reuters The rupee depreciated 14 paise to close at 83.57 (provisional) against the U.S. dollar on April 16, weighed down by a negative trend in domestic equities and a strong greenback against major crosses overseas amid geopolitical tensions. Forex traders said a weak appetite for riskier assets and recent foreign capital…

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