The past week was significant in shaping India's economic narrative, marked by the death of industrialist Ratan Tata and shifts in monetary policy. Ratan Tata's Passing and Noel Tata's Appointment: India mourned the loss of Ratan Tata, the revered former chairman of Tata Sons, who passed away at 86. In a board meeting, Noel Tata was appointed as the new Chairman of Tata Trusts, a pivotal moment in the continuity of the Tata legacy. Noel, wh

India's benchmark equity indices closed lower for a second consecutive week on Friday, as market sentiment was dampened by losses in major stocks such as Titan Co. and Tata Steel Ltd. On Friday, the Nifty index slipped by 0.10%, or 24.15 points, finishing at 24,974.3, while the Sensex declined by 0.22%, or 176.01 points, closing at 81,435.40. The decline was attributed to the performance of banking stocks and Tata Consultancy Services Ltd., which contributed significantly to the

The mutual fund industry in India reported net outflows of ₹71,114.08 crore for September 2024, as per the latest data from the Association of Mutual Funds in India (AMFI). This decline follows a staggering 42.8% drop in August, where cumulative inflows into mutual funds were recorded at ₹1.08 lakh crore. Equity mutual funds saw a decline in inflows by 9.9% in September, totaling ₹34,419.26 crore, down from ₹38,239.16 crore in August. The net assets under management (AUM) of

On Thursday, benchmark equity indices in India ended with slight gains as investors geared up for the earnings announcement from Tata Consultancy Services (TCS), the country's largest IT services firm. Additionally, inflation data from the US, set to be released after market hours, remained a focal point for traders. The Nifty index closed up by 0.07%, gaining 16.50 points to finish at 24,998.45, while the Sensex increased by 0.18%, adding 144.3 points to close at 81,611.4. Desp

In a significant development for Andhra Pradesh's IT landscape, Minister Nara Lokesh announced that Tata Consultancy Services (TCS) will establish a major IT facility in Vizag, creating 10,000 direct employment opportunities. This announcement, made via Lokesh's social media, is expected to serve as a catalyst for further investments in the region. Minister Lokesh expressed his enthusiasm, stating, “I’m happy to announce the development of an IT facility by Tata

The Reserve Bank of India (RBI) is taking a cautious approach to inflation management following a slight rise in the latest inflation readings. During a policy address on Wednesday, RBI Governor Shaktikanta Das emphasized the need to keep inflation on a "tight leash" due to potential upside risks stemming from adverse weather conditions and ongoing geopolitical tensions. In August, India's retail inflation, measured by the Consumer Price Index (CPI), edged up to 3.65%,

US futures experienced a decline in pre-market trading as investors prepared for speeches from several Federal Reserve officials. The S&P 500 futures fell by 0.12%, settling at 5,793.25, while the Dow Jones Industrial Average futures decreased by 0.10% to 42,331.00. The Nasdaq 100 futures also dipped by 0.19%, reaching 20,260.75 by 3:30 p.m. IST. Key economic events for October 9 and 10 include remarks from various Federal Reserve presidents and the highly anticipated release of

India's benchmark equity indices, the Nifty 50 and the Sensex, snapped their six-session losing streak on Tuesday, posting gains despite a downturn in most global markets. This rally was primarily driven by heavyweight stocks, including HDFC Bank Ltd., Infosys Ltd., and Reliance Industries Ltd., as investors await the outcome of the upcoming monetary policy committee meeting set for Wednesday. The Nifty 50 index closed up by 0.88%, or 217.40 points, ending the day at 25,013.15,

The 2024 Fairwork India Ratings have revealed a concerning trend for major ride-hailing platforms Uber and Ola, as well as logistics startup Porter, which continue to lag at the bottom of the index designed to assess the fairness with which companies treat their gig workers. In stark contrast, Tata-owned BigBasket, Zomato, Swiggy, and Urban Company topped the ratings, mirroring last year's results. This year's study evaluated 11 platforms, including Amazon Flex, BluSmart, Fl

The Securities and Exchange Board of India (SEBI) has unveiled a series of new measures aimed at strengthening the equity index derivatives market, focusing on investor protection and enhanced market stability. These initiatives follow recommendations from SEBI’s Expert Working Group on derivatives and the Secondary Market Advisory Committee. Key changes include the mandatory upfront collection of option premiums from buyers, a move designed to mitigate undue intraday leverage

In a positive sign for the Indian economy, the Goods and Services Tax (GST) collections for September 2023 increased by 6.5% year-on-year, totaling ₹1.73 lakh crore. This marks a rise from ₹1.63 lakh crore collected in September of the previous year. The net GST collection after refunds stood at ₹1.53 lakh crore, showing a growth of 4% compared to ₹1.47 lakh crore in September 2022. So far this fiscal year, the government has recorded a gross GST revenue of ₹10.87 lakh cro

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

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

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

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 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