The Karnataka government on Wednesday said it has signed a Letter of Intent (LoI) with Foxconn, a major iPhone assembler for tech giant Apple, to undertake two marquee projects in the state with an estimated investment worth Rs 5,000 crore. The projects would create employment opportunities for 13,000 people in the state, it said. The [...]
Equity benchmark indices Sensex and Nifty fell by 1 per cent on Wednesday on weak global market trends and continuous foreign fund outflows. Fitch Ratings has downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a "steady deterioration in standards of governance" over the past two [...]
Benchmark stock indices Sensex and Nifty traded flat in early trade on Friday due to profit-taking in financials and IT shares amid weak global cues. The 30-share BSE Sensex opened lower and fell further by 294 points to hit a low of 65,785.64 in early trade. The BSE barometer was trading at 65,767.85, down by [...]
The market capitalisation of BSE-listed firms hit a lifetime peak of Rs 301.70 lakh crore on Thursday, mirroring a positive trend in domestic equities, where benchmark index Sensex settled at a new record high. The 30-share BSE Sensex jumped 339.60 points or 0.52 per cent to settle at its new all-time closing high of 65,785.64. [...]
The fast-moving consumer goods (FMCG) sector witnessed a stable demand in the June quarter and gross margins are expected to expand on softening commodity inflation even as the rural demand remained elusive, according to the latest reports of two companies. Two leading FMCG players -- Marico and Godrej Consumer Products Ltd (GCPL) -- in their [...]
The GST Council is likely to discuss the recommendations of a group of state finance ministers regarding levy of 28 per cent tax on online gaming, casinos and horse racing, in its 50th meeting next week. The council is also likely to thrash out a consensus on whether the tax would be levied on the [...]
Equity benchmark indices climbed in early trade on Thursday amid unabated foreign fund inflows but later faced volatile trends after a record-breaking rally in the past few trading sessions. Investors preferred to stay cautious amid weak global market trends and record rally in equities. The 30-share BSE Sensex climbed 54.09 points to 65,500.13 in early [...]
Finance minister Nirmala Sitharaman is expected to meet heads of public sector banks (PSBs) on Thursday and review the financial performance of as many as 12 lenders. This is going to be the first review meeting after the 2022-23 financial results. In the last fiscal, PSBs together posted a record profit of Rs 1.04 lakh [...]
Equity benchmark indices ended flat on Wednesday with Sensex sliding 33 points and Nifty gaining 9 points after an unabated record-breaking rally in the last few trading sessions. Weak global market trends and fall in HDFC twins also spoiled markets party. The 30-share BSE Sensex dipped 33.01 points or 0.05 per cent to settle at [...]
The IMF's executive board is set to meet on July 12 to review the USD 3 billion Standby Arrangement with cash-strapped Pakistan and will also possibly release the first tranche of USD 1.1 billion as part of the loan programme, a media report said on Wednesday. The Pakistan government and the International Monetary Fund (IMF) [...]
