India’s industry secretary said the ball is now in Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles.The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to…
Byju Raveendran, the founder of Byju’s, a leading edtech company in India, has faced a significant setback as his net worth has dropped to zero, according to the latest Forbes Billionaire Index 2024. The report states that his net worth has come down from Rs 17,545 crore ($2.1 billion) to zero! Once a top player…
Ace investor Ashish Kacholia has acquired a 17.2% stake in homegrown burger chain Jumboking, making him the second-largest shareholder. The investment, of an undisclosed amount, was made through a secondary market transaction following Triton Fund’s exit from the firm.Experts estimate the transaction to be valued between Rs 70 crore and Rs 80 crore, placing the…
Services PMI grows, employment increases at the fastest rate in seven months! India’s services industry showed faster growth in March, driven by strong demand, as per a private survey. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, increased to 61.2 last month, surpassing expectations. This marks the 32nd consecutive month of growth.Job…
Gold rate today: Gold prices reached a new all-time high on Thursday, influenced by global commodity prices. US Fed Chair Jerome Powell‘s statement, indicating that recent job numbers and higher-than-expected inflation wouldn’t change the central bank’s monetary strategy much, boosted investor confidence in gold, sparking increased buying activity.According to ET, June Gold futures on MCX…
China pips India in buying Russian oil! India is no longer the top buyer of seaborne Russian oil. The country has been forced to reject some cargoes of sea-borne Russian oil because of sanctions. China is now lapping oil from Russia at deeply discounted rates. In March, China outpaced India in importing Russian crude by…
Stock market rally today: BSE Sensex and Nifty50, the Indian equity benchmark indices, hit fresh life-time highs in trade on Thursday. While BSE Sensex surged 500 points to hit the 74,501.73 mark, Nifty50 topped 22,600 levels for the first time. At 9:27 AM, BSE Sensex was trading at 74,263.89, up 387 points or 0.52%. Nifty50…
Indian Railways readies a big 100 day plan for the new government! Indian Railways is finalising plans for the rollout of Vande Bharat sleeper, completion of the major Kashmir railway project that will link J&K with the rest of India and rolling stock procurement for the bullet train project.Indian Railways plans to introduce a sleeper…
“Russian oil supplies to India are maintained at a steadily high level; no problems arise with determining means of payment for oil exported by Russia,” Maria Zakharova, the official spokeswoman for the Russian foreign ministry, said. The priority in payments “is given to national currencies,” she highlighted. India, while maintaining its economic and defense relationships…
NEW DELHI: Vistara flight disruptions could significantly ease by the weekend, with the management of the 70-aircraft-strong airline promising a more humane utilisation of its about 1,000 pilots — who are currently on standby almost all times when not flying — due to “faulty” rostering. To ensure this, the airline which currently operates 320-330 daily…
