Category: Business

Business

Reliance, Wipro weigh on Indian shares amid volatility spike ahead of Budget

July 22, 2024 admin

People walk past the Bombay Stock Exchange (BSE) building in Mumbai. | Photo Credit: Reuters Indian shares opened lower on July 22, dragged by Reliance Industries and Wipro after both companies posted weaker-than-expected quarterly results, while volatility spiked a day before the Union Budget was due. The NSE Nifty 50 fell 0.55% to 24,398.75, while…

Business

PPF returns still languishing lower than formula-based rates: RBI

July 21, 2024 admin

The RBI indicated that the interest rates offered by the Union government on two of India’s most popular small savings schemes continue to languish below the rates they should have earned as per a formula-based system adopted since April 2016. File | Photo Credit: Reuters The interest rates offered by the Union government on two of…

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India’s garment export woes are self-inflicted: report

July 21, 2024 admin

India’s garment exports in 2023-24 stood at $14.5 billion, compared with $15 billion in 2013-14. Image for representation purposes only. File | Photo Credit: M. Periasamy Exports from India’s labour-intensive garment sector, which have been losing ground to rivals like Vietnam and Bangladesh and were lower than 2013-14 levels last year, have been dented more by…

Business

If not special category, then give us special package: JD(U) demands aid for Bihar ahead of Union Budget

July 21, 2024 admin

Union Minister of State Anupriya Patel, Ramdas Athawale and JD(U) MP Dileshwar Kamait during the all-party meeting, at Parliament House in New Delhi on July 21, 2024. | Photo Credit: ANI The Janata Dal (United), a key BJP ally which heads the government in Bihar, has strongly argued for a special financial package for the…

Business

Mcap of eight of top-10 firms rises by ₹2.10 lakh crore; TCS and LIC leading gains

July 21, 2024 admin

The 30-share BSE Sensex hit its new all-time high of 81,587.76 on July 19, 2024. File | Photo Credit: Reuters The combined market valuation of eight of the top-10 most valued firms jumped ₹2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest…

Business

Union Budget: Tamil Nadu CM M.K. Stalin lists out State’s wish list

July 21, 2024 admin

Tamil Nadu Chief Minister M.K. Stalin. File | Photo Credit: The Hindu Tamil Nadu Chief Minister M.K. Stalin listed out various railway- and road projects for Tamil Nadu in the wish list for the Union Budget (2024-25) that is scheduled to be presented in Parliament on July 23. This would be the first Union Budget…

Business

IOC targets USD 1 trillion revenue by 2047: Chairman

July 21, 2024 admin

Indian Oil Corporation, the nation’s largest oil firm, is targeting to become a $1 trillion company by 2047, combining growth in traditional oil refining and fuel marketing with clean energy avenues like green hydrogen and EV charging, its chairman said. Indian Oil Corporation (IOC) posted a record net profit of ₹39,619 crore ($4.7 billion) on…

Business

FPIs invest ₹30,772 crore in equities so far in July

July 21, 2024 admin

This influx is following an inflow of ₹26,565 crore in equities in the entire month of June, driven by political stability and the sharp rebound in markets. | Photo Credit: The Hindu Foreign Portfolio Investors (FPIs) injected ₹30,772 crore into Indian equities so far this month, driven by hopes of continued policy reforms, sustained economic…

Business

Anticipated allocations around personal taxation from upcoming Budget keeping fiscal deficit in mind

July 21, 2024 admin

Photo used for representation purpose only. | Photo Credit: Getty Images/iStock Union Finance Minister Nirmala Sitharaman is set to present Union Budget 2024 on July 23. This will be the first full-year Budget for the new government, now in its third term. The fiscal deficit for FY 2023-24 was 5.63% of GDP with a target…

Business

Gold loan sector and NBFC reforms needed for true financial inclusion

July 21, 2024 admin

A gold pledging transaction in progress in the city of Kochi. File | Photo Credit: The Hindu With all eyes on the upcoming Union Budget 2024, there is a noticeable sense of anticipation from the honorable Finance Minister to boost the rural economy with higher allocations and push public capex to bring about a greater…

Business