Reaching $100 b in Indo-Russian trade realistic: Jaishankar
India and Russia are aiming to achieve $100 billion in bilateral trade by 2030, according to Indian External Affairs Minister S Jaishankar. While optimistic about reaching this target, Jaishankar highlighted the need to address the trade imbalance, which currently favors Russia due to India’s oil imports. He urged for swift action on non-tariff barriers and […]
‘Govt FY25 spends to be in sync with Budget estimates of ₹48.2 lakh cr’
India’s government spending for the current fiscal year is expected to stay around the budgeted amount, despite upcoming requests for additional funds. The focus remains on meeting the fiscal deficit target by managing spending and boosting capital investments, which have lagged in the first half of the year.
Union Cabinet likely to approve ELI schemes after Jharkhand and Maharashtra elections
The Indian government is poised to approve employment-linked incentive schemes after assembly elections conclude in Jharkhand and Maharashtra. The labor ministry aims to implement these schemes by 2024, aiming to transition a significant portion of India’s informal workforce into formal employment, ensuring minimum wages and social security benefits.
Rupee may depreciate 8-10% during Trump 2.0, says SBI report
The rupee may depreciate 8-10 per cent against the US dollar during the Trump 2.0 regime, said a SBI research report, even as the local currency hit its all-time low on Monday. The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India’s and Global Economy, emphasised that the rupee can have a brief […]
Sebi asks QSBs to offer UPI mechanism, 3-in-1 facility to investors from Feb 1
Markets regulator Sebi on Monday asked qualified stock brokers to offer either the facility of trading in the secondary market using the UPI-based block mechanism to their clients similar to the ASBA facility or a three-in-one trading account facility from February 1. These qualified stock brokers brokers (QSBs) must offer one of these two options, […]
Hindalco Q2 Results: Standalone net profit soars 123% YoY to Rs 1,891 crore, beats estimates
Hindalco Q2 Results: Profit exceeded the Street estimate of Rs 1,294 crore, with revenue from operations rising 8% YoY to Rs 22,262 crore in the period. Strong profit growth was fueled by solid operational performance in the India business, favourable macro conditions, and effective cost management.
SC dismisses Sebi’s appeals against SAT relief for Reliance, promoters
The Supreme Court dismissed SEBI’s appeals against penalties on Reliance Industries and its promoters, which were quashed by the Securities Appellate Tribunal (SAT). However, the court agreed to hear Reliance’s cross-appeal regarding the price manipulation case involving RPL shares
Coca-Cola India FY24 Results: Profit falls 42% to Rs 420.29 crore, revenue rises 4%
Beverages major Coca-Cola India’s consolidated profit fell 41.82 per cent to Rs 420.29 crore in FY24 while its revenue rose 4.24 per cent to Rs 4,713.38 crore, according to the company’s filing to RoC (Registrar of Companies).
Bandhan Bank, small finance banks see higher slippages as microfinance lending persists
Bandhan Bank and other small finance banks that transitioned from microfinance faced higher slippages in Q2. Despite efforts to reduce micro-ticket lending and increase secured portfolios, 75-80% of fresh slippages originated from the microfinance business
India’s patent filings double in five years, country now ranks 6th globally
India has experienced significant growth in intellectual property filings, with patents and industrial design filings doubling and trademarks increasing by 60% between 2018 and 2023. This surge has propelled India to 6th globally in patent filings, driven by a rise in resident innovation, according to the commerce and industry ministry.