President Vladimir Putin has called Prime Minister Narendra Modi “a big friend" of Russia and said his 'Make in India' campaign has had a "truly impressive effect" on the country's economy. Putin made these remarks on Thursday at a forum in Moscow organised by Russia’s Agency for Strategic Initiatives (ASI). “Our friends in India and [...]
The market capitalisation of BSE-listed firms reached an all-time high of Rs 295.72 lakh crore in early trade on Friday, helped by optimism in equities, where the benchmark Sensex hit its new lifetime peak. Rallying for the third day running, the 30-share Sensex surged 499.42 points or 0.78 per cent to reach its all-time high [...]
In a major relief to cash-strapped Pakistan, the government and the IMF have reached a long-awaited staff-level agreement on a USD 3 billion “stand-by arrangement” to support the authorities’ immediate efforts to stabilise the economy from external shocks. Pakistan’s economy has been in a free fall mode for the last many years, bringing untold pressure [...]
Bharti Airtel's 5G network rollout has been more "measured" and lags behind its biggest rival Reliance Jio, according to an analyst report. Analysts at investment services provider JP Morgan in the report said the measured coverage could prompt a higher capital expenditure over the next 12-18 months by Bharti Airtel, which could face potential market [...]
State-owned NHPC Ltd on Thursday said it has completed over 90 per cent construction of its Subansiri Lower Hydroelectric project. NHPC is constructing the 2,000 MW power project located in Assam-Arunachal Pradesh. "More than 90 per cent of total project work has already been completed. After monsoon, balance work of radial gates will be completed [...]
Online grocery delivery firm Innovative Retail Concepts, which operates as BigBasket, has posted widening of loss to Rs 1,535 crore for 2022-23, according to details shared by Tofler. Tofler said the loss of BigBasket increased by 89 per cent, implying the company had posted a loss of around Rs 812 crore in 2021-22. The company's [...]
Coromandel International Ltd has acquired an additional 32.68 per cent stake in drone firm Dhaksha Unmanned Systems for Rs 204 crore, according to a regulatory filing. The company now has a 51 per cent stake in the start-up. In the regulatory filing, Coromandel International informed that its wholly owned subsidiary Coromandel Technology Ltd (CTL) is [...]
Benchmark equity indices hit their fresh all-time high levels in early trade on Friday, helped by foreign fund inflows and positive trends in the global markets. Buying in index major Infosys and HDFC Bank also helped markets maintain their winning momentum. Rallying for the third straight day, the 30-share BSE Sensex jumped 499.42 points to [...]
Cash-strapped Pakistan and the IMF are discussing a new short-term standby arrangement (SBA) worth about USD 2.5 billion to get the country through the political transition to the newly-elected government in the second quarter of the current fiscal year, according to a media report on Wednesday. Pakistan’s ninth review by the International Monetary Fund (IMF) [...]
Vedanta Group has hired YJ Chen as the Chief Executive Officer (CEO) of its display business, the company said on Wednesday. Before joining Vedanta, Chen was with Chinese display maker HKC Corp, where he was Executive Vice President. He will spearhead Vedanta's plans to establish India's first display fab. "He (Chen) brings with him extremely [...]
