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A US court has admitted a petition by Indian billionaire Gautam Adani and his nephew Sagar Adani seeking dismissal of a securities fraud lawsuit filed by the US Securities and Exchange Commission (SEC), arguing that the case falls outside American jurisdiction and does not establish any wrongdoing. The development comes after the US court admitted […]
Thirty thousand people lost their jobs before breakfast. Oracle reportedly sent the email at 6am on March 31 with no warning, no preamble. Just a message informing employees that the day they opened it was their last. The tech giant called it a broader organisational change. The Internet called it something else entirely. The mass layoff did not […]
Christopher Wood, global head of equity strategy at Jefferies, mentioned in his weekly note GREED & fear that Indian stock markets had been a “relative-return disaster” this year. Relative return is an asset’s performance compared to a benchmark. It indicates how well it delivered in relation to the market. From a macroeconomic angle, Wood pointed […]
The Reserve Bank of India (RBI) has kept its repurchase rate unchanged at 5.5 per cent. The central bank has been watching risks from global trade changes and examining uncertainty over possible new US tariffs. According to reports, the Monetary Policy Committee, made up of six members and led by RBI Governor Sanjay Malhotra, voted […]
A slower growth trajectory beckons the Indian economy in the upcoming fiscal year, with industrial sluggishness and declining investments impacting performance. The agriculture and services sectors are in good health, a report has claimed, but the same can’t be said about the primary and secondary sectors that are witnessing a slowdown. The first half of the fiscal […]
India’s Real Gross Domestic Product (GDP) growth for the financial year 2024-25 is expected to slow to 6.4%, according to the first advance estimates released by the National Statistics Office (NSO) on Tuesday. The advance estimates, based on extrapolated data from the first seven to eight months of FY25, provide an early indication of the […]
The rupee weakened by eight paise to reach a record low of 84.50 (provisional) against the US dollar on Friday, pressured by a sharp sell-off in domestic equity markets and rising crude oil prices amid geopolitical volatility. Forex traders claim that the US dollar gained strength due to its safe-haven appeal amid rising tensions between […]
A report by Goldman Sachs, titled ‘India’s rise as the emerging services factory of the world’, has highlighted that India’s share in global services exports has more than doubled in the last 18 years. The rise of global capability centres (GCCs) has played a crucial role in this expansion, according to the report. GCCs are […]
In a recent release by the National Statistical Office (NSO) on Friday, retail inflation in India surged to a four-month high, reaching 5.69 percent in December. This increase was primarily driven by elevated prices of food items such as pulses, spices, fruits, and vegetables. Simultaneously, separate data from the NSO revealed that the Index of […]
India has discovered a new oil reserve in the Krishna Godavari Basin, off the coast of Kakinada, Andhra Pradesh. The discovery was announced by Union Petroleum Minister Hardeep Singh Puri. Puri said that the first oil was extracted from the well on January 7, 2024. He added that the well is expected to produce 45,000 […]
In 2022, the Indian Rupee has depreciated by 3.5 percent against the US dollar. The rupee has fallen by more than 1.2 percent in the last month alone. Five years ago, in 2017, the rupee was worth Rs. 64.60 against the US dollar. Fueling Inflation:The fall in the rupee is increasing the cost of imports […]
Billionaire Gautam Adani’s AEL is entering the healthcare market by establishing a wholly-owned subsidiary, Adani Health Ventures (AHVL), which will begin operations in the near future. AHVL will have an initial authorised and paid-up share capital of Rs 100,000 (Rs 1 lakh) and will establish diagnostic facilities, health aids, health-tech based facilities, and research centres.AEL […]
On Thursday, cooking gas LPG prices increased by Rs 3.50 for the second time this month, pushing LPG cylinder prices across the country above Rs 1,000. From today, 14.2 kg domestic LPG cylinders will cost Rs1,003 in Delhi and Mumbai, Rs 1,029 in Kolkata, and Rs 1,018.5 in Chennai. Gas prices were raised by 50 […]
The Reserve Bank of India on Tuesday released a report which suggests that prices of Food such as cereals, pulses, and edible oils rose or remained stable in May. The report further indicates that inflation may rise further. Key Highlights of the Report:Price of LPG cylinder has risen by Rs 50 per cylinder, while Petrol-Diesel […]
Bharti Airtel on Tuesday reported a 164 per cent increase in consolidated net profit to Rs 2,008 crore for the fiscal quarter ending March 31, 2022, up from Rs 760 crore the previous year. Revenue from operations:Consolidated revenue from operations increased by 22% to Rs 31,500 crore in Q4FY22, compared to Rs 25,747 crore in […]
What does it mean when rupee falls? Simply put, a fall in the value of a currency tells about its exchange rate versus other currencies. Today, ₹77.41 can buy $1. In layman terms, the US$ is 77.41 times stronger that one Indian rupee. But has it fallen earlier? Yes. On several occasions. However, this week […]
