At a time when the world is faced with continued economic slowdown and social distress, the international community counts a lot on India's leadership of G-20, the Managing Director of the International Monetary Fund said Thursday. "India, which is the president of G-20 countries, remains among the countries that perform better than global average and [...]
IT company HCL Tech on Thursday reported a 19 per cent increase in the consolidated net income to Rs 4,096 crore for the third quarter ended December 31, 2022 driven by growth in services revenue. It had posted a net income of Rs 3,442 crore a year ago, the company said. The company has for [...]
Godrej Properties on Friday said it has acquired a 60-acre land in Chennai to develop a residential project, as it seeks to expand business amid rise in housing demand. In a regulatory filing, the company informed that it has purchased the land on an outright basis in the micro market of Oragadam Junction, Chennai. The company [...]
Stock market investors in India are bracing themselves for the challenging weeks before the upcoming budget session as economic growth retreated from a peak and foreign investors pressed the sell button on Indian shares. India’s stock market outperformed most Asian markets, however, it is already overshadowed in 2023 as China’s reopening economy will attract funds [...]
Market benchmarks declined in early trade on Friday dragged down by index major Reliance Industries and IT counters along with continuous foreign fund outflows. The 30-share BSE Sensex declined 273.21 points to 59,684.82. The broader NSE Nifty slipped 69.75 points to 17,788.45. From the Sensex pack, HCL Technologies, Larsen & Toubro, Tech Mahindra, Reliance Industries, [...]
State-owned REC Ltd will extend financial assistance worth Rs 21,086 crore to discoms in Madhya Pradesh, MP Power Management Company Ltd & Rewa Ultra Mega Solar project. REC has inked three separate pacts with MP Power Management Company Limited (MPPMCL), discoms in Madhya Pradesh and Rewa Ultra Mega Solar Ltd to this effect. An MoU [...]
India's industrial production rose by 7.1 per cent in November 2022 after contracting in October, according to official data released on Thursday. The Index of Industrial Production (IIP) grew by 1 per cent in November 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 6.1 [...]
Retail inflation declined to a one-year low of 5.72 per cent in December 2022, mainly due to softening prices of food items, according to official data released on Thursday. The Consumer Price Index (CPI) based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021. As per the [...]
The current energy crisis is driving inflation, slowing economic growth and creating social turmoil, a new report said on Thursday while calling for new solutions that advance a sustainable and inclusive energy transition. The World Economic Forum (WEF) report, released days before its annual meeting in Davos, said the world is in the grip of [...]
Global brokerage and research firm Jefferies had initiated coverage on power stocks in India. It highlighted that restrictions and increased duties on module imports and module price volatility are impacting the sector’s growth. In addition, it believes that State Electricity Boards (SEBs) are taking their time to sign new power purchase agreements (PPAs). Some of [...]
