The World Bank has forecast Pakistan's economic growth to slow further to two per cent during the current year — down by two percentage points from its June 2022 estimates — because of the devastating floods and slowdown in the global growth rate, a media report said on Wednesday. The World Bank’s Global Economic Prospects [...]
Commercial lending origination volumes declined by 4.3 per cent to 22.2 lakh loans in the COVID-affected FY22, a credit information company said on Wednesday. If one has to look at the originations by value, there was a 73 per cent jump to Rs 66.49 lakh crore, while the portfolio outstanding at the end of the [...]
The shares of Goldiam International shot up 10.45% in the past two days after ace investor Ashish Kacholia increased a stake in the company. Its shares reached an intraday high of ₹ 146.25 and were trading at ₹ 139.95 apiece at 01:32 PM on Wednesday. Goldiam International manufactures and exports gold and diamond jewellery to [...]
State-owned HLL Lifecare Limited has paid a dividend of Rs 122.47 crore to the health ministry for financial year 2021-22, an official statement said. The cheque was presented to Union Minister of Health Mansukh Mandaviya by Beji George, Chairman and Managing Director, HLL at an event here on Wednesday. HLL had a record turnover of [...]
The Arunachal Pradesh cabinet has finalised an action plan to unlock the state’s hydropower potential to strengthen the country’s energy sector, an official statement said on Wednesday. During the first cabinet meeting of the year, chaired by Chief Minister Pema Khandu on Tuesday, the council of ministers decided that some important stalled projects, which were [...]
The shares of Uttam Sugar Mills Limited gained 5 percent in the early hours of Wednesday at Rs 314 levels. The prices climbed after the company announced its capex plans of Rs 96 Crores. The company announced that it will increase its Distillery capacity (Ethanol) by 100 KLPD at the Barkartpur plant from the existing [...]
The shares of Aartech Solonics, a stock listed on the BSE SME exchange hit the 10% upper circuit on Wednesday’s early trades. Its shares were locked at ₹ 81.45 apiece Aartech Solonics is a small-cap company that manufactures electrical machinery and apparatus N.E.C. It is a system solution-oriented R&D enterprise in the field of specialized [...]
Giving details about its Q3 performance, Marico said "Parachute coconut oil posted low single-digit volume growth after a visible recovery in December as consumer pricing stabilised with copra prices firming up in the off-season. Going forward, we expect the brand to deliver growth in line with medium term aspiration." It said that it expects modest [...]
Indian real estate saw a surge in setting up of investment platforms in 2022 and an amount of USD 4.52 billion has been committed, which will be deployed over the next few years, according to JLL India. Foreign as well as domestic investors tie up with real estate developers to establish an investment platform for [...]
The consumption of composite materials in India is expected to witness a sharp uptick and touch 7.68 lakh tonne (LT) by 2027, led by demand from sectors like renewable energy, electric vehicles, defence, among others, according to a report. Composite materials or fibre-reinforced plastics help in circular economy as these are manufactured by combining multiple [...]
The government is expecting to get financial bids for IDBI Bank's strategic sale by September, DIPAM Secretary Tuhin Kanta Pandey said. Several global and domestic institutions have expressed interest in buying about 61 per cent of the government and Life Insurance Corporation's (LIC) stake in IDBI Bank and had put in preliminary bids, the last [...]
The shares of NMDC Limited opened at Rs 123.75 and gained as much as 4 percent in the early hours on Wednesday to reach a new 52-week high of Rs 128.75. However, on a longer time frame, the stock is trading at a discount as it has shed approximately 9 percent in a year. Recently, [...]
A popular metric among investors is the PE ratio. It remains one of the most popular valuation metrics as it provides an indication of whether a stock at its current market price is expensive or cheap. A high PE ratio means that a stock is expensive and its price may fall in the future. A [...]
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and according to the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India’s strong "macroeconomic fundamentals", Modi said while virtually [...]
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the [...]
Commerce and industry minister Piyush Goyal has sought investment from the US in sunrise sectors such as electric vehicles, semiconductors and battery technology, the commerce ministry said on Tuesday. The minister is in the US for a three-day visit till Jan 11. Goyal also held discussions with several CEOs of leading companies, including Michael Miebach [...]
Commerce and Industry Minister Piyush Goyal has said there are "limitless opportunities" for US investors and companies to grow in and with India across sectors and this is the "right time" for them to increase their engagement with the country. “India and US relations have been at an all-time high. In addition to strong bilateral [...]
Theranica, an Israeli digital therapeutics company has announced a strategic license and supply agreement with Dr. Reddy's Laboratories Ltd., for the exclusive marketing and distribution of its FDA-approved Nerivio in India, subject to completion of the regulatory approval process. Nerivio is a wearable migraine treatment that stimulates the body's pain receptors in order to relieve [...]
The crucial India-US Trade Policy Forum meeting here is unlikely to make much progress, given the sharp differences, but would hopefully ignite trade talks between the world's two largest democracies, according to eminent trade experts. Minister of Commerce and Industry Piyush Goyal, who is in the US on an official visit, held a series of [...]
Prime Minister Narendra Modi will virtually inaugurate the 7th edition of 'Invest Madhya Pradesh-Global Investors Summit', a flagship event of the state government, in Indore on Wednesday. The theme of the two-day summit is 'Madhya Pradesh-The Future Ready State', an official said. After the inaugural address by Modi, Guyana President Dr Mohamed Irfaan Ali and [...]
