Category: Business

Business

Sensex, Nifty hit all-time peaks after RBI’s highest-ever dividend announcement

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The BSE benchmark climbed 267.75 points or 0.36% to settle at 74,221.06 on May 22. The NSE Nifty advanced 68.75 points or 0.31% to finish at 22,597.80. File Benchmark equity indices rallied on May 23, with the Sensex and Nifty hitting their lifetime peaks, after the RBI approved the highest-ever dividend of ₹2.11 lakh crore…

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Disney strikes deal to sell stake in India’s Tata Play: report

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Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group’s satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, May 22,2024, citing people familiar with the matter. Also read: Reliance, Disney sign binding pact to combine media businesses in India The stake sale news…

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Markets climb in early trade with Larsen, Reliance support

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Benchmark equity indices climbed in early trade on Thursday, May 23, 2024, amid buying in blue chips Larsen & Toubro and Reliance Industries. The 30-share BSE Sensex climbed 41.65 points to 74,262.71 in early trade. The NSE Nifty went up by 20.1 points to 22,617.90. The BSE benchmark later traded 225.06 points higher at 74,456.44…

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Business

‘India mid-tier IT firms gain share from industry goliaths’

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Mid-tier IT firms tend to focus on short-term deals aimed at helping clients cut costs rather than chase large-scale projects. Representational | Photo Credit: REUTERS Mid-tier firms in India’s $254 billion IT sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said….

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2024 turns out to be the worst-ever season for mango growers in Rayalaseema in five decades

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A mango garden with delayed crop pattern and low yield on the outskirts of Chittoor on Wednesday. | Photo Credit: SPECIAL ARRANGEMENT Kothur Babu, an experienced mango grower in Chittoor district, laments that the yield in his orchard has plummeted by over 80% and the prospects of earing profit with the remaining crop looks remote….

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‘Gains from critical minerals drive unlikely before 2031’

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India’s quest to tap domestic reserves of critical minerals may not deliver their full commercial benefits before 2031, rendering the country’s manufacturing plans vulnerable to supply shocks for minerals like lithium and cobalt whose global output is controlled by China, rating firm ICRA said on Wednesday. The lack of critical minerals reserves deemed necessary for…

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Rupee rises 3 paise to close at 83.28 against U.S. dollar

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The rupee appreciated by 3 paise to settle at 83.28 (provisional) against the U.S. dollar on Wednesday amid softening crude oil prices. Forex traders said the local unit consolidated in a narrow range weighed down by foreign fund outflows. At the interbank foreign exchange, the domestic unit opened at 83.29 and moved in the range…

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