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File picture of Bibek Debroy, chairman, Economic Advisory Council to the Prime Minster | Photo Credit: PTI Noted author and economist Bibek Debroy, who has been the Prime Minister’s Economic Advisory Council chairman since 2017, has passed away on Friday (November 1, 2024) at the age of 69. Mr. Debroy was also a member of…
Read More “Bibek Debroy, chairman of PM’s Economic Advisory Council, no more” »
For the month, the company reported the highest-ever SUV sales of 54,504 vehicles, a 25% growth Year on Year. | Photo Credit: Special Arrangement Mahindra & Mahindra Ltd sold a total of 96,648 vehicles including exports for the month of October as compared with 80,679 units a year ago, up 20%. For the month, the…
Read More “Mahindra October auto sales up 20% YoY to 96,648 units; SUV sales up 25%” »
The headquarters of India’s HDFC Bank is pictured in Mumbai, India, December 4, 2015. | Photo Credit: Reuters HDFC Bank promoted, HDB Financial Services Ltd, a diversified retail-focused non-banking financial company (NBFC) has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The Public Offer aggregating up to ₹12,500 crore comprises of…
Read More “HDFC Bank unit HDB Financial Services files with SEBI for ₹12,500 crore IPO” »
An illuminated view of the BSE building ahead of the Diwali festival, in Mumbai on Tuesday. | Photo Credit: ANI Benchmark equity indices Sensex and Nifty fell for the second day on Thursday dragged down by losses in IT stocks and relentless foreign fund outflows. Falling for the second day in a row, the BSE…
Read More “Sensex, Nifty decline on unabated foreign fund outflows, selling in IT stocks” »
Image used for representative purpose only. | Photo Credit: iStockphoto The rupee settled on a flat note and rose 1 paisa to 84.07 (provisional) against U.S. dollar on Thursday, weighed down by persistent foreign fund outflows and month-end dollar demand from importers. Forex traders said suspected intervention by the Reserve Bank of India (RBI) supported…
Read More “Rupee settles on flat note, rises 1 paisa to 84.07 against U.S. dollar” »
The BSE Sensex declined 225.17 points to 79,707.66 in early trade. The NSE Nifty fell by 60.85 points to 24,280. File | Photo Credit: The Hindu Benchmark equity indices Sensex and Nifty fell in early trade on Thursday (October 31, 2024), dragged down by IT stocks and relentless foreign fund outflows. The BSE Sensex declined…
At the interbank foreign exchange, the rupee opened at 84.08 against the greenback; it rose 1 paisa to 84.07 in initial trade. File | Photo Credit: The Hindu The rupee opened on a flat note and rose 1 paisa to 84.07 against the U.S. dollar in initial deals on Thursday (October 31, 2024), as strong…
Read More “Rupee opens on flat note, rises 1 paisa to 84.07 against U.S. dollar in early trade” »
The story so far: Mired amidst geopolitical tensions and economic uncertainty, spot price of gold scaled a record high of $2,758.37 for an ounce on October 23. At the time of writing, the yellow metal was priced at $2,731.45/ounce having marginally corrected course from the record high. In India, gold was mirroring the upward trajectory…
Read More “Why is there an upward rally in gold prices? Explained” »
Homegrown FMCG major Dabur India Ltd on Wednesday (October 30, 2024) reported a decline of 17.65% in its consolidated net profit to ₹417.52 crore in the September 2024 quarter on account of high food inflation and squeeze in urban demand. The company had posted a net profit of ₹507.04 crore in the July-September quarter a…
Read More “Dabur Q2 profit down 17.6% to ₹417.5 cr impacted by inflation, squeeze in urban demand” »
Output levels in India’s eight core sectors, which account for about 40% of the country’s industrial production, continued to drag in September. | Photo Credit: REUTERS Output levels in India’s eight core sectors, which account for about 40% of the country’s industrial production, continued to drag in September with the Index of Core Industries (ICI)…
Read More “Core sector output at 10-month low in September, deepening growth anxieties” »