MUMBAI: Reserve Bank of India governor Shaktikanta Das has reiterated that the central bank’s war against inflation is not yet over, indicating that rates will remain higher for longer.“By emphasising our firm commitment to realign inflation with the target, we also categorically say that it is not enough to be within the tolerance band, and…
MUMBAI: Zepto has raised a fresh funding of $350 million from a clutch of domestic investors led by Motilal Oswal’s private wealth division at a flat valuation of $5 billion, taking its total fund count for the year to over $1 billion. This marks the third fund-raise by the quick commerce startup this year as…
The 23,780-23,800 range represents key resistance, say market analysts. (AI image) Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Thursday. While BSE Sensex was below 77,200, Nifty50 was below 23,400. At 9:18 AM, BSE Sensex was trading at 77,172.19, down 406 points or 0.52%. Nifty50 was at 23,378.60,…
Prosecutors in Brooklyn, New York, alleged on Wednesday that Adani and other defendants lied about the plan as they sought to raise money from US investors. US prosecutors charged Gautam Adani, one of the world’s richest people, with participating in a scheme that involved promising to pay more than $250 million in bribes to Indian…
BENGALURU: Apple maintained double-digit growth in India, mirroring the company’s strong results in other emerging markets like Mexico, Brazil, and the Middle East.Apple India’s revenue rose 36% to Rs 67,122 crore ($8 billion) in FY24 compared to the year-ago period. Its net profit rose 23% to Rs 2,746 crore during the same time, Tofler data…
MUMBAI: Foreign exchange spending by Indians declined by $453 million in Sept 2024 compared to Aug, primarily due to a $200 million drop in international travel.Outward remittances under the Liberalised Remittance Scheme stood at nearly $2.8 billion in Sept, down 14% from $3.2 billion in Aug, RBI data showed. The figure is also 21% lower…
MUMBAI: The slowdown observed in Q2 FY25 is behind us, according to RBI’s State of the Economy report. The statement comes as private consumption resumes its role as the primary driver of domestic demand, aided by a pickup in festival spending in Q3. However, private investment remains lacklustre as evidenced by sequentially lower investment in…
BENGALURU: Following an expansion in large deal pipelines during 2022 and 2023, there is a noticeable decline in new mega IT deals entering the market. However, with a slew of renewals coming up next year, incumbents will defend their business interests and revenue. Although these contracts are up for renewal, it does not automatically indicate…
NEW DELHI: Government is sticking to its estimate of the economy expanding by 6.5-7% during the current fiscal year, in line with the projections made in the Economic Survey, and does not see significant downside risks to growth.“We started the year with estimates in the economic survey of 6.5-7%. I don’t see any significant downside…
NEW DELHI: Still undecided on its decision to participate in govt’s new EV policy, Vietnamese electric car maker VinFast is holding separate discussions with Hyderabad-headquartered Megha Engineering & Infrastructures (MEIL) and also Adani group to thrash out a partnership before launching its cars.A source privy to the talks said VinFast, which is in the process…
