Equity benchmarks climbed in initial trade on Friday amid a strong rally in the US markets and buying in banking counters. The 30-share BSE benchmark Sensex rose by 481.94 points to 60,414.18. The broader NSE Nifty advanced 118.05 points to 17,728.45. From the Sensex pack, IndusInd Bank, Titan, Bajaj Finance, HDFC Bank, Bajaj Finserv, ICICI [...]
With an aim to boost business activities in the international financial hub GIFT IFSC, the government in the Budget paved the way for IFSC units to issue participatory notes or offshore derivative instruments to foreign investors. Participatory notes (P-notes) are issued by registered foreign Portfolio Investors (FPIs) to overseas investors who wish [...]
Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the NSE Nifty dipped almost 6 points in a see-saw session. The 30-share BSE benchmark Sensex advanced 224.16 points or 0.38 per cent to settle at 59,932.24. During the day, it hit a high of 60,007.67 and a low of [...]
The increased capex allocation of Rs 10 lakh crore announced in the Union Budget will lead to the creation of the right talent pool for the engineering services industry, Axiscades Technologies said on Thursday. Finance Minister Nirmala Sitharaman tabled the Union Budget for 2023-24 in Parliament on Wednesday. "Enhancement in capital investment outlay to Rs [...]
As many as 39 hydro projects totalling 14,623.5 MW capacity are under implementation in the country while nine out of these are stalled, Parliament was informed on Thursday. In a written reply to the Lok Sabha, Power Minister R K Singh said steps are being taken by developers/government for revival of the stalled projects. "39 [...]
The country's Fast-moving consumer goods (FMCG) industry witnessed a consumption slowdown in the December quarter, with an overall "negative" volume growth, as consumers continue to reel under inflationary pressure, says a report. According to the report released by data analytics firm NielsenIQ on Thursday, in October-December, the FMCG industry grew 7.6 per cent in terms [...]
State-owned Food Corporation of India (FCI) has sold 8.88 lakh tonne of wheat to bulk consumers like flour millers on the first day of e-auction conducted in 22 states, the food ministry said on Thursday. FCI commenced e-auction of wheat on February 1 under Open Market Sale Scheme (OMSS) for bulk users in order to [...]
The announcements for tweaking customs duties in certain sectors and measures to support MSMEs will help in boosting domestic manufacturing and the country's outbound shipments, exporters said on Thursday. Increase in capital investment outlay by 33 per cent to Rs 10 lakh crore, 50 years interest free loan to states to incentivise infrastructure investment, highest-ever [...]
The first G-20 Employment Working Group meeting will begin in Jodhpur Thursday afternoon to address priority labour, employment and social issues for sustainable, inclusive and job-rich growth. The first day of the three-day meeting will explore strategies for global skills, qualification harmonization, and developing a framework for common skill taxonomies. The panel discussion will be [...]
Measures announced in the Budget such as extending the period of incorporation of eligible budding entrepreneurs for providing tax incentives, would provide a lot of support to further strengthen the country's startup ecosystem, Commerce and Industry Minister Piyush Goyal has said. The government on Wednesday proposed to extend the period of incorporation of eligible startups [...]
