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Adani Group announced its exit from Adani Wilmar last month | Photo Credit: Reuters The Adani Group will raise ₹7,148 crore from sale of up to 20% stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructure business. The conglomerate, which last month…
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The first advance estimates of India’s Gross Domestic Product (GDP) in 2024-25, released by the National Statistics Office (NSO) this week, shows a decline in the real GDP growth rate to 6.4% from 8.2% registered in 2023-24. This is lower than the 6.5 to 7% range projected by the Economic Survey in July 2024. The…
Larsen & Toubro (L&T) chairman S.N. Subrahmanyan sparked an online outrage with his comments advocating a 90-hour work week and suggesting that employees should even give up Sundays. “How long can you stare at your wife,” he is heard saying in a purported video address to employees where he urged them to spend less time…
The overall expenses grew 6.33% to ₹48,550 crore from the ₹45,658 crore in the year-ago period. File | Photo Credit: Reuters The country’s largest IT services exporter TCS on Thursday (January 9, 2025) reported an 11.95% jump in net profit to ₹12,380 crore in the December quarter. The Tata Group company had posted a net…
Read More “TCS Q3 net profit rises 11.95% to ₹12,380 crore” »
Photo used for representation purpose only. | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Thursday (January 9, 2025) due to heavy selling in market heavyweights HDFC Bank, TCS and Reliance as investors turned nervous over earnings growth concerns amid unabated foreign capital outflows. Besides, abysmally low Chinese…
Photo used for illustration purpose only | Photo Credit: Reuters The rupee recovered slightly from its record low and settled with a gain of 4 paise at 85.87 (provisional) against the U.S. dollar on Thursday (January 9, 2025) amid firm American currency and elevated level of crude oil prices. According to forex analysts, relentless selling…
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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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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 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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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…