Category: Business

Business

Markets decline in early trade on unabated foreign fund outflows

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Photo used for representation purpose only. | Photo Credit: Reuters Benchmark indices Sensex and Nifty dropped in initial trade on Thursday (January 9, 2025) dragged by persistent foreign fund outflows, with investors staying on the sidelines ahead of the earnings season. TCS is kick-starting the December quarter results calendar on Thursday. The 30-share BSE benchmark…

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Business

Rupee falls 1 paisa to record low of 85.92 against U.S. dollar in early trade

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Photo used for representation purpose only. | Photo Credit: Reuters The rupee slipped 1 paisa to its record low of 85.92 against the U.S. dollar in early trade on Thursday (January 9, 2025), the third straight session of downfall, weighed down by a stronger American currency and higher crude oil prices. Forex traders said the…

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GMR Group receives ₹6,300 crore investment from Abu Dhabi Investment Authority

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GMR Group has received ₹6,300 crore investment from Abu Dhabi’s sovereign wealth fund ADIA and the funds will help in reducing the debt of promoter group entity GMR Enterprises Pvt Ltd (GEPL). In October last year, the group had announced securing ₹6,300 crore debt funding from the Abu Dhabi Investment Authority (ADIA). GMR Infra Enterprises…

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Business

Ahead of Union Budget, Finance Secretary Tuhin Kanta Pandey entrusted with Revenue department

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Finance Secretary Tuhin Kanta Pandey. File | Photo Credit: The Hindu With a little over three weeks to go for the Union Budget on February 1, the Centre on Wednesday (January 8, 2024) shifted the recently appointed Revenue Secretary Arunish Chawla to the Department of Investment and Public Asset Management (DIPAM), and entrusted Finance Secretary…

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Congress suggests relief in income tax for the middle class, MSP for farmers, and income support for the poor in upcoming Union budget

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 Congress leader Jairam Ramesh. File. | Photo Credit: Shashi Shekhar Kashyap The downward revision of Gross Domestic Product (GDP) growth estimates for the current fiscal provides a gloomy backdrop to the upcoming Union budget, and needs radical action to dispel “the cloud of growth slowdown and investment chill” in the country, the Congress said on…

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Business

PM’s Principal Secretary endorses use of hybrid seeds in rice, pulses, oilseeds

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Representational file image. | Photo Credit: K.K. Mustafah Endorsing the use of hybrid seeds to increase crop production and reduce import dependency, Principal Secretary to the Prime Minister P.K. Mishra said here on Wednesday (January 8, 2025) that hybrid research has to produce products that have higher productivity than open-pollinated seed varieties. Inaugurating the three-day…

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Markets settle marginally lower on muted GDP growth projection; HDFC, ICICI Bank major drag

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The gross domestic product (GDP) rate of 6.4% will be the lowest since the year of Covid (2020-21). File | Photo Credit: PTI Equity benchmark indices Sensex and Nifty ended marginally lower in a volatile session on Wednesday (January 8, 2025), as investors stayed on the sidelines ahead of the earnings season amid lower economic…

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Rupee plunges 13 paise to settle at new record low of 85.87 against U.S. dollar

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Image used for representational purpose. | Photo Credit: Reuters The rupee extended its slide for the second straight session and declined 13 paise to hit a fresh record low of 85.87 (provisional) against the U.S. dollar on Wednesday (January 8, 2025) amid higher crude oil prices and stronger American currency. Lacklustre sentiment in domestic equity…

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Business

ONGC appoints BP as TSP to boost production at Mumbai High Field

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The MH oil producing field is located in the Mumbai offshore area. It was discovered by ONGC in 1974 and started production in 1976. File Oil And Natural Gas Corporation Limted (ONGC) said it has selected BP Exploration (Alpha) Limited, a wholly-owned step-down subsidiary of BP Plc, the U.K. has been selected as the Technical Service Provider (TSP) for…

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