Category: Business

Business

Vistara CEO, pilots, management to meet at 1 p.m. on Air India merger standoff

April 3, 2024 admin

In recent weeks, discontentment has been simmering among pilots at Vistara, which is in the process of getting merged with Air India. File | Photo Credit: Reuters Vistara CEO Vinod Kannan on April 3 called an urgent meeting with all pilots as well as the top management, including the Human Resources division in an attempt…

Business

World Bank projects Indian economy to grow at 7.5% in 2024

April 3, 2024 admin

In India, the World Bank said, economic activity surprised on the upside in 2023Q4, with growth of 8.4% from a year ago. File. | Photo Credit: AP The Indian economy is projected to grow at 7.5% in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2%. Overall, growth…

Business

Markets fall in early trade amid negative global trends

April 3, 2024 admin

Image for representation | Photo Credit: ANI Benchmark equity indices Sensex and Nifty declined in early trade on Wednesday amid weak global trends, higher crude oil prices, and outflow of foreign funds. The 30-share BSE Sensex declined 281.18 points or 0.38% to 73,622.73. The NSE Nifty dipped 93.15 points or 0.41% to 22,360.15. Among the…

Business

Rupee trades in narrow range against U.S. dollar in early trade

April 3, 2024 admin

The rupee witnessed range-bound trading in initial deals against the US dollar on Wednesday, as the support from positive macroeconomic data was negated by elevated crude oil prices. Forex traders said a negative trend in domestic equities and the overall strength of the American currency in the overseas market weighed on investor sentiments. At the…

Business

Rupee falls 4 paise to close at 83.43 against U.S. dollar

April 2, 2024 admin

File. | Photo Credit: C. Venkatachalapathy The rupee on April 2 consolidated in a narrow range and settled 4 paise lower at 83.43 against the U.S. dollar, weighed down by a strong dollar and elevated crude oil prices. Forex traders said a weak trend in domestic equities also dented investor sentiments. At the interbank foreign…

Business

Stock markets snap three-day winning run; Sensex down 110 points on profit-taking, foreign fund outflows

April 2, 2024 admin

Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers. File. | Photo Credit: Reuters Stock markets snapped the three-day gaining run on April 2 with benchmark Sensex dropping by 110 points due to profit-taking in select private bank and auto shares amid weak trends from the US markets and foreign fund…

Business

India’s sunflower oil, soy oil imports up as palm oil imports fall

April 2, 2024 admin

India buys palm oil from Indonesia, Malaysia and Thailand, while it imports soy oil and sunflower oil from Argentina, Brazil, Russia and Ukraine. File | Photo Credit: KAMAL NARANG India’s sunflower oil imports rose by 51% in March from the previous month to reach the second highest level on record, as lower prices led refiners…

Business

March manufacturing PMI at 16-year peak

April 2, 2024 admin

Image for representation purpose only. FIle | Photo Credit: PTI India’s manufacturing sector activity surged in March with new orders and output levels rising at the fastest pace since October 2020, lifting the HSBC India Manufacturing Purchasing Managers Index (PMI) to a 16-year high of 59.1 from 56.9 in the previous month. A reading of…

Business

Rupee trades in narrow range against U.S. dollar in early trade

April 2, 2024 admin

Image for representational purposes only. | Photo Credit: Reuters The rupee witnessed range-bound trading in initial deals against the U.S. dollar on April 2, weighed down by a strong American currency and elevated crude oil prices. At the interbank foreign exchange, the rupee opened at 83.37 against the greenback, then touched 83.35, registering a rise…

Business

Markets fall in early trade on profit-taking, foreign fund outflows

April 2, 2024 admin

The 30-share BSE Sensex declined 222.02 points to 73,792.53 on April 2, 2024. File | Photo Credit: Reuters Benchmark equity indices declined in early trade on April 2, halting their three days of rally, on profit-taking amid weak trends from the U.S. markets and foreign fund outflows. The 30-share BSE Sensex declined 222.02 points to 73,792.53….

Business