Equity benchmarks Sensex and Nifty overcame bouts of volatility to settle in the green for the second straight session on Friday, propped up by robust demand for the metal, banking and financial stocks amid a firm trend in global equities. Besides, a strengthening rupee and lower crude prices in the international markets also influenced sentiments [...]
India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India. The Switzerland-based [...]
Union Minister Rajeev Chandrasekhar on Thursday said deposits close to USD 1 billion attributable to Indian startups were with the US-based Silicon Valley Bank. The failure of Silicon Valley Bank (SVB), which was a key funding source for startups, has sent shockwaves across the global financial system. During a Twitter live session, Chandrasekhar said he [...]
The domestic equity market opened on a strong note on Friday, with benchmark Sensex jumping more than 350 points tracking positive global cues and ebbing concerns over the fallout of the banking sector woes in the US and Europe. The 30-share BSE Sensex surged 352.26 points or 0.61 per cent to 57,987.10 points while the [...]
Corporate travel is expected to rebound with as many as 77 per cent of Indian businesses expecting a rise in their travel budget in 2023 as compared to 2022, said a survey commissioned by American Express. In terms of the practical methods used to pay for travel expenses, the most common way, used by two-thirds [...]
Loan disbursals by microfinance companies increased 19 per cent to Rs 77,877 crore during December quarter 2022-23, said the MFIN Micrometer. The total microfinance loan portfolio increased to Rs 3.21 lakh crore as on December 31, 2022, the report said. "Microfinance loan disbursals during Q3 FY 22-23 improved to Rs 77,877 crore as compared to [...]
Thermal power plants monitored by the Central Electricity Authority (CEA) had 33.5 million tonne of coal stock as on Sunday, which was sufficient to run them for 12 days at 85 per cent capacity utilisation, Parliament was informed on Thursday. This assumes significance in view of projection of an unprecedented high demand of electricity during [...]
The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global [...]
India's fuel demand fell in the first half of March after posting a record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. March [...]
Domestic pharmaceutical industry is expected to witness a revenue growth of 6-8 per cent in the next fiscal, rating agency Icra said on Thursday. Despite several disruptive events, the Indian pharmaceutical market (IPM) witnessed a healthy CAGR of 10.9 per cent between FY2012 and FY2022. "Going forward, ICRA expects revenues for its sample set to [...]
