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Welspun Enterprises Ltd. announced on Friday that it has been declared the lowest bidder for a major water tunnel project in Mumbai, a venture initiated by the Brihanmumbai Municipal Corporation (BMC). The company's bid, amounting to approximately Rs 1,989.9 crore (excluding GST), is aimed at designing and constructing a tertiary-treated water conveyance tunnel connecting the wastewater treatment facility in Dharavi to another facility in Ghatkopar.
The scope of the project incl
Welspun Enterprises Ltd. announced on Friday that it has been declared the lowest bidder for a major water tunnel project in Mumbai, a venture initiated by the Brihanmumbai Municipal Corporation (BMC). The company's bid, amounting to approximately Rs 1,989.9 crore (excluding GST), is aimed at designing and constructing a tertiary-treated water conveyance tunnel connecting the wastewater treatment facility in Dharavi to another facility in Ghatkopar.
The scope of the project incl
US-based Pinnacle Group, a leader in global workforce solutions, has officially opened its new office in Chennai, marking its first regional headquarters in the Asia Pacific region. Situated on the bustling Rajiv Gandhi Salai, known as the IT Corridor, this facility is set to enhance the company's engagement with its existing clientele while exploring new market opportunities.
Since establishing operations in India in 2007, Pinnacle Group has made significant investments in the
US-based Pinnacle Group, a leader in global workforce solutions, has officially opened its new office in Chennai, marking its first regional headquarters in the Asia Pacific region. Situated on the bustling Rajiv Gandhi Salai, known as the IT Corridor, this facility is set to enhance the company's engagement with its existing clientele while exploring new market opportunities.
Since establishing operations in India in 2007, Pinnacle Group has made significant investments in the
Adani Enterprises Ltd. is making significant strides in the retail sector with its recent acquisition of a 74% stake in Cococart Ventures Pvt. (CVPL) through its subsidiary, April Moon Retail Pvt. Ltd. This strategic move, valued at Rs 200 crore, is part of Adani's broader efforts to enhance its presence in the competitive Indian retail market.
On Friday, the company executed multiple agreements, including a share purchase agreement, a joint venture agreement, and a share subscr
Adani Enterprises Ltd. is making significant strides in the retail sector with its recent acquisition of a 74% stake in Cococart Ventures Pvt. (CVPL) through its subsidiary, April Moon Retail Pvt. Ltd. This strategic move, valued at Rs 200 crore, is part of Adani's broader efforts to enhance its presence in the competitive Indian retail market.
On Friday, the company executed multiple agreements, including a share purchase agreement, a joint venture agreement, and a share subscr
Following the announcement of its initial public offering (IPO), Swiggy has drawn significant attention from various celebrities in sports and entertainment, acquiring stakes in the restaurant aggregator before it hits Dalal Street. Notable investors include cricket legends Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, filmmaker Karan Johar, and actor Ashish Chowdhry. According to the Economic Times, around 200,000 shares of Swiggy's parent company, Instamart, have already been
Following the announcement of its initial public offering (IPO), Swiggy has drawn significant attention from various celebrities in sports and entertainment, acquiring stakes in the restaurant aggregator before it hits Dalal Street. Notable investors include cricket legends Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, filmmaker Karan Johar, and actor Ashish Chowdhry. According to the Economic Times, around 200,000 shares of Swiggy's parent company, Instamart, have already been
India's trade deficit saw a notable increase in August, reaching $29.65 billion, up from $23.5 billion in July. This expansion was primarily driven by a sharp rise in gold imports, which totaled $10 billion—an astonishing 103.7% increase compared to the previous year. The surge in gold imports is linked to a reduction in customs duties, now set at 6%, which spurred consumers to stock up ahead of the festive season.
Madhavi Arora, lead economist at Emkay, noted that while t
India's trade deficit saw a notable increase in August, reaching $29.65 billion, up from $23.5 billion in July. This expansion was primarily driven by a sharp rise in gold imports, which totaled $10 billion—an astonishing 103.7% increase compared to the previous year. The surge in gold imports is linked to a reduction in customs duties, now set at 6%, which spurred consumers to stock up ahead of the festive season.
Madhavi Arora, lead economist at Emkay, noted that while t
Accenture Plc has announced an optimistic forecast for fiscal 2025, predicting revenue growth of 3-6% in local currency terms. The company expects earnings per share (EPS) to range from $12.55 to $12.91, representing a 10-13% increase from the previous fiscal year. When excluding certain items, Accenture anticipates a more conservative EPS growth of 5-8%.
In a statement, the company noted that it expects a positive foreign-exchange impact of approximately 1.5% on its results when re
Accenture Plc has announced an optimistic forecast for fiscal 2025, predicting revenue growth of 3-6% in local currency terms. The company expects earnings per share (EPS) to range from $12.55 to $12.91, representing a 10-13% increase from the previous fiscal year. When excluding certain items, Accenture anticipates a more conservative EPS growth of 5-8%.
In a statement, the company noted that it expects a positive foreign-exchange impact of approximately 1.5% on its results when re
The NSE Nifty 50 and BSE Sensex have extended their remarkable record run for the sixth consecutive session, showcasing the strength of the Indian stock market. On Thursday, both indices recorded fresh highs, with the Nifty 50 rising by 211.90 points (0.81%) to close at 26,216.05, while the Sensex climbed 666.25 points (0.78%) to finish at 85,836.12. Intraday trading saw the Nifty touch a peak of 26,250.90, and the Sensex reached 85,167.56, reflecting a robust bullish sentiment among investor
The NSE Nifty 50 and BSE Sensex have extended their remarkable record run for the sixth consecutive session, showcasing the strength of the Indian stock market. On Thursday, both indices recorded fresh highs, with the Nifty 50 rising by 211.90 points (0.81%) to close at 26,216.05, while the Sensex climbed 666.25 points (0.78%) to finish at 85,836.12. Intraday trading saw the Nifty touch a peak of 26,250.90, and the Sensex reached 85,167.56, reflecting a robust bullish sentiment among investor
In response to growing concerns over slowing economic growth, the People's Bank of China (PBOC) has announced a comprehensive package of monetary stimulus measures. This initiative underscores the government's urgency to stabilize the economy and regain investor confidence, especially as the country risks missing its annual growth target of around 5%.
Key elements of the package include a reduction in the seven-day reverse repurchase rate to 1.5% and a cut in the reserve req
In response to growing concerns over slowing economic growth, the People's Bank of China (PBOC) has announced a comprehensive package of monetary stimulus measures. This initiative underscores the government's urgency to stabilize the economy and regain investor confidence, especially as the country risks missing its annual growth target of around 5%.
Key elements of the package include a reduction in the seven-day reverse repurchase rate to 1.5% and a cut in the reserve req
In recent years, urban Indians have dramatically shifted their spending habits, favoring experiences over traditional retail and fast-moving consumer goods (FMCG). According to a CLSA report, this trend is epitomized by the overwhelming demand for concert tickets, particularly for the much-anticipated Coldplay shows in January 2025, which sold out within minutes. The massive interest has even led to a third concert being added to accommodate fans, with tickets now fetching prices up to five t
In recent years, urban Indians have dramatically shifted their spending habits, favoring experiences over traditional retail and fast-moving consumer goods (FMCG). According to a CLSA report, this trend is epitomized by the overwhelming demand for concert tickets, particularly for the much-anticipated Coldplay shows in January 2025, which sold out within minutes. The massive interest has even led to a third concert being added to accommodate fans, with tickets now fetching prices up to five t
A panel of state ministers, established by the Goods and Services Tax (GST) Council, is set to convene in Goa on September 24 and 25. This six-member group, led by Bihar Deputy Chief Minister Samrat Chaudhary, will review the implications of rate rationalization on at least 100 items. The discussions aim to analyze potential changes in GST slabs and rates, particularly focusing on essential goods.
During the two-day meeting, the panel will explore various
A panel of state ministers, established by the Goods and Services Tax (GST) Council, is set to convene in Goa on September 24 and 25. This six-member group, led by Bihar Deputy Chief Minister Samrat Chaudhary, will review the implications of rate rationalization on at least 100 items. The discussions aim to analyze potential changes in GST slabs and rates, particularly focusing on essential goods.
During the two-day meeting, the panel will explore various
US stocks experienced a lower opening on Friday as investors took a moment to reassess following a robust rally spurred by the Federal Reserve's significant interest rate cut earlier this week. The Dow Jones Industrial Average fell by 120 points, or 0.3%, landing at 41,906.55. Meanwhile, the tech-heavy Nasdaq Composite decreased by 0.2%, settling at 17,950.7. The S&P 500 also saw a dip, declining by as much as 0.26% to 5,698.93.
Despite the overall market downturn, nine of t
US stocks experienced a lower opening on Friday as investors took a moment to reassess following a robust rally spurred by the Federal Reserve's significant interest rate cut earlier this week. The Dow Jones Industrial Average fell by 120 points, or 0.3%, landing at 41,906.55. Meanwhile, the tech-heavy Nasdaq Composite decreased by 0.2%, settling at 17,950.7. The S&P 500 also saw a dip, declining by as much as 0.26% to 5,698.93.
Despite the overall market downturn, nine of t
Adani Total Gas Ltd. (ATGL) announced on Friday that it has successfully secured $375 million in funding from international lenders to expand its city gas distribution (CGD) network. This financing marks the largest global investment in the CGD sector, underscoring the growing importance of natural gas in India's energy landscape.
The funds will enable ATGL to extend its services to over 200 million people, representing approximately 14% of India's population. The financing
Adani Total Gas Ltd. (ATGL) announced on Friday that it has successfully secured $375 million in funding from international lenders to expand its city gas distribution (CGD) network. This financing marks the largest global investment in the CGD sector, underscoring the growing importance of natural gas in India's energy landscape.
The funds will enable ATGL to extend its services to over 200 million people, representing approximately 14% of India's population. The financing
Heritage Foods Ltd. has ambitious plans to elevate its ice cream business revenue to ₹700 crore over the next five years, as stated by CEO Srideep M Kesavan. This growth strategy is anchored by the establishment of a new manufacturing plant in Telangana, which aims to enhance production capacity significantly. Kesavan emphasized that this investment will enable the company to ramp up its annual revenue from approximately ₹110-120 crore to an impressive ₹650-700 crore.
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Heritage Foods Ltd. has ambitious plans to elevate its ice cream business revenue to ₹700 crore over the next five years, as stated by CEO Srideep M Kesavan. This growth strategy is anchored by the establishment of a new manufacturing plant in Telangana, which aims to enhance production capacity significantly. Kesavan emphasized that this investment will enable the company to ramp up its annual revenue from approximately ₹110-120 crore to an impressive ₹650-700 crore.
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HDFC Bank Ltd, India's largest private sector lender, is set to sell ₹9,062.38 crore worth of car loans, amounting to 1,08,711 loans, as part of its strategy to address its increasing credit-deposit ratio. The bank will execute this sale using a financial instrument known as 'pass-through certificates' (PTCs), which provide fixed income to holders from a pool of assets like loans. According to insiders, this transaction may represent the largest PTC sale in India to date.
HDFC Bank Ltd, India's largest private sector lender, is set to sell ₹9,062.38 crore worth of car loans, amounting to 1,08,711 loans, as part of its strategy to address its increasing credit-deposit ratio. The bank will execute this sale using a financial instrument known as 'pass-through certificates' (PTCs), which provide fixed income to holders from a pool of assets like loans. According to insiders, this transaction may represent the largest PTC sale in India to date.
Benchmark equity indices experienced a decline, snapping a two-day winning streak as market participants adopted a cautious approach ahead of the highly anticipated interest rate cut from the US Federal Reserve. This would mark the first rate cut since 2020, following a series of eight consecutive meetings where rates remained unchanged. The India VIX, a measure of market volatility, increased by 6.2%, closing at 13.37.
Information technology stocks significantly impacted the indice
Benchmark equity indices experienced a decline, snapping a two-day winning streak as market participants adopted a cautious approach ahead of the highly anticipated interest rate cut from the US Federal Reserve. This would mark the first rate cut since 2020, following a series of eight consecutive meetings where rates remained unchanged. The India VIX, a measure of market volatility, increased by 6.2%, closing at 13.37.
Information technology stocks significantly impacted the indice
India's retail inflation saw a slight increase in August 2024, rising to 3.65% from 3.54% in July, as reported by the Ministry of Statistics and Programme Implementation. Despite this marginal rise, the inflation rate remains at its lowest level in nearly five years, a position it last reached in September 2019. This uptick was driven primarily by a significant rise in vegetable prices, which soared by 10.7% compared to a 6.8% increase the previous year.
The Consumer Price Index
India's retail inflation saw a slight increase in August 2024, rising to 3.65% from 3.54% in July, as reported by the Ministry of Statistics and Programme Implementation. Despite this marginal rise, the inflation rate remains at its lowest level in nearly five years, a position it last reached in September 2019. This uptick was driven primarily by a significant rise in vegetable prices, which soared by 10.7% compared to a 6.8% increase the previous year.
The Consumer Price Index
The current market sentiment is subdued, with the potential for a fresh selloff if certain technical thresholds are breached. Analysts suggest that for the Nifty and Sensex to experience a significant decline, the indices would need to drop below their respective 20-day simple moving averages or fall beneath the 24,900 and 81,400 marks. If these levels are breached, the Nifty could slip to the 24,775-24,725 range, while the Sensex might drop to 81,000-80,800.
On the other hand, for
The current market sentiment is subdued, with the potential for a fresh selloff if certain technical thresholds are breached. Analysts suggest that for the Nifty and Sensex to experience a significant decline, the indices would need to drop below their respective 20-day simple moving averages or fall beneath the 24,900 and 81,400 marks. If these levels are breached, the Nifty could slip to the 24,775-24,725 range, while the Sensex might drop to 81,000-80,800.
On the other hand, for
Apple’s iPhone production in India has seen a remarkable increase, jumping from less than 1% in 2017 to 10% in 2023. According to a report by global investment firm Jefferies, this surge is largely attributed to India's 'Make in India' initiative and the production-linked incentive (PLI) scheme. The company aims to further boost its local manufacturing, with plans to scale up production to 25% of global shipments by 2025. This strategic move aligns with Apple’s goal to
Apple’s iPhone production in India has seen a remarkable increase, jumping from less than 1% in 2017 to 10% in 2023. According to a report by global investment firm Jefferies, this surge is largely attributed to India's 'Make in India' initiative and the production-linked incentive (PLI) scheme. The company aims to further boost its local manufacturing, with plans to scale up production to 25% of global shipments by 2025. This strategic move aligns with Apple’s goal to
India is set to become a dominant force in the MSCI emerging markets index, potentially surpassing China in influence. As of August, India’s weightage in the index rose to 19.8%, narrowing the gap with China’s 24.2%. This increase, from 9.2% in December 2020, highlights India's growing appeal to foreign investors. Morgan Stanley's latest analysis notes that this shift could lead to more foreign capital inflows, enhancing India’s stock market performance further.
India is set to become a dominant force in the MSCI emerging markets index, potentially surpassing China in influence. As of August, India’s weightage in the index rose to 19.8%, narrowing the gap with China’s 24.2%. This increase, from 9.2% in December 2020, highlights India's growing appeal to foreign investors. Morgan Stanley's latest analysis notes that this shift could lead to more foreign capital inflows, enhancing India’s stock market performance further.
India and Singapore have recently signed four significant Memorandums of Understanding (MoUs) aimed at strengthening their bilateral cooperation. The agreements cover key areas including digital technologies, semiconductors, health cooperation, and skill development. These MoUs signify a deepening partnership between the two nations and are expected to foster increased collaboration and mutual benefits in these crucial sectors.
Prime Minister Narendra Modi, currently on an official
India and Singapore have recently signed four significant Memorandums of Understanding (MoUs) aimed at strengthening their bilateral cooperation. The agreements cover key areas including digital technologies, semiconductors, health cooperation, and skill development. These MoUs signify a deepening partnership between the two nations and are expected to foster increased collaboration and mutual benefits in these crucial sectors.
Prime Minister Narendra Modi, currently on an official
