On a roll after becoming the top SUV maker in India -- ahead of traditional heavyweights Hyundai, Maruti and Mahindra & Mahindra -- Tata Motors is lining up one of its biggest investment plans for its passenger vehicles business as looks to pump in more than Rs 24,000 crore over the next five years, a large part for scaling up the fast-growing electrics division.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H9TblSv
India Inc is likely to give an average hike of 9 per cent salary hike this year due to a more positive investment outlook, especially in manufacturing and infrastructure development, according to a report.
Investment firm Invesco on Wednesday said three funds managed by its developing markets investment team, including Invesco Developing Markets Fund, will sell up to 7.8 per cent of the share capital of Zee Entertainment Enterprises Ltd (ZEEL) to align exposures to the firm with other funds managed by the team.
Fuel prices have gone up the least in India as compared to Western economies amid flaring global oil prices, petroleum minister Hardeep Singh Puri said on Tuesday, the day state-run fuel retailers raised pump prices for the 13th time in 15 days since they began revising rates after a gap of nearly five months.
Adani Power shares on Tuesday shot up to a 52-week high, hitting the 10% upper circuit on reports the company has received Rs 3,000 crore in past dues from three Rajasthan discoms (distribution companies).
India's wheat exports hit 7.85 million tonnes in the fiscal year to March, an all-time high and a sharp increase from 2.1 million tonnes in the previous year, traders said, as Russia's invasion of Ukraine cuts off rival Black Sea supplies.
India's electricity generation rose in March at its fastest pace in three months, government data showed, as increased use of air-conditioning in hotter weather and the return of employees to offices led to an increase of 5.99% in output.
Oil extended losses on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever US oil reserves release. After US President Joe Biden announced the release on Thursday, prices slumped 7% and both benchmarks were on course for their biggest weekly falls in two years, at 14% and 13% respectively.
India's coal production rose 8.6% to 777.2 million tonnes during the year ended March 2022, the government said on Friday, driven by a surge in power demand due to an economic recovery after the relaxation of coronavirus-related restrictions.
You can now ride in the iconic London black cab in India, albeit in an electric avataar. The London Electric Vehicle Company (LEVC) has brought the TX electric shuttle to India earlier this year for around Rs 80 lakh-1 crore and so far has sold 8-10 of these iconic vehicles.
Several income tax proposals, including 30 per cent tax on income from trade in cryptocurrencies will come into effect from Friday. Also, the revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year.
Equity indices logged their best month since August 2021 with the benchmark BSE sensex scaling over 3,000 points or 4.13 per cent in March. The performance comes in the back of a ragging war between Russia and Ukraine that has spooked stock markets globally, forcing investors to move to safe haven assets.
India will more than double the price of natural gas from Friday for the first half of this fiscal year, reflecting a surge in global prices, two sources familiar with the matter said, further stoking inflation in Asia's third largest economy.
Shares of India's Tata Coffee surged up to 12% on Wednesday after parent Tata Consumer Products said it would streamline its coffee business by merging the company with itself. Tata Consumer said the plantation business of Tata Coffee would be demerged into Tata Consumer Products' beverages and foods unit, which is known for brands like "Tata Tea" and "Tetley".
Finance minister Nirmala Sitharaman on Tuesday defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains and the resultant increase in global oil prices due to the war in Ukraine was a "couple of weeks" phenomenon resulting in the record hike in petrol and diesel prices in last 8 days.
A delegation from Egypt will visit India in the first week of April to facilitate wheat imports as part of efforts to secure supplies and tide over shortages at one of the world's biggest importers of the staple, government sources said.
Domestic ratings agency Icra on Tuesday cut its FY23 real GDP growth estimate by a sharp 0.8 per cent to 7.2 per cent, primarily driven by the fallout of Russian invasion of Ukraine. Its chief economist Aditi Nayar attributed the downward revision to elevated commodity prices and also fresh supply chain issues arising from the conflict in Ukraine.
A Delhi court on Monday allowed the CBI to collect the handwriting sample of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in connection with the NSE co-location case. Special Judge Sanjeev Aggarwal also extended Ramkrishna's judicial custody till April 11.
China's state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for caution as sanctions mount over the invasion of Ukraine.
mid criticism over hikes in prices of petrol and diesel in recent days, finance minister Nirmala Sitharaman on Friday argued that it was the war in Ukraine that had forced an increase in pump prices, while maintaining that the government did not burden the people with additional taxes during Covid, when 32 countries across the globe had raised levies.
Telecom company Bharti Airtel will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing. The transaction will be executed at a price of Rs 187.88 per share.
Executive director of GAIL, Sanjay Kumar, has taken over as the managing director of Indraprastha Gas Ltd (IGL), the country's largest natural gas distribution company operating CNG and PNG services in 30 districts across three states and the national capital.
Union food minister Piyush Goyal on Thursday assured that the Centre will procure excess stocks of raw rice from Telangana as per the quality specified by the Food Corporation of India. The assurance came from Goyal after a delegation of TRS leaders met Goyal in Parliament over the issue of procurement of rice from Telangana.
The Central Board of Indirect Taxes & Customs (CBIC) has issued a standard operating procedure for the scrutiny of GST returns for financial years 2017-18 and 2018-19, the first two years of the roll-out of the new taxation regime.
State-run fuel retailers raised fuel prices across the board on Tuesday, a day after BJP completed selecting chief ministers in all the four states it won in the recent assembly polls. The hike in petrol, diesel and LPG drew a howl of protest from the opposition which called it a “triple assault”. The first price increase in five months saw retailers raising the base price of petrol and diesel by 80 paise a litre. The price of household LPG refills rose by Rs 50 each.
Indian Oil Corp, the country's top fuel retailer, will raise petrol and diesel price by Rs 0.80 a litre from Wednesday, the second such increase in pump prices in as many days, a notification sent to dealers showed on Tuesday.
In spite of a massive jump in the number of the uber rich and rich becoming richer, their contributions to charity continued to decline during the Covid-19 pandemic when a whopping 200 million-plus were forced into poverty, says a report.
IT major TCS is ready to put in place 5G network for any telecom operator across the globe on any given day and the company is working in India on a country-specific gears for the network, a senior company official said.
India ranks 51st in annual appreciation in housing prices with a 2.1 per cent rise in rates during the October-December quarter of the last year, according to property consultant Knight Frank.
State fuel retailers will raise petrol and diesel pump prices by Rs 0.8 rupees per litre from Tuesday, the first increase since November, two dealers told Reuters late on Monday. The dealers, who declined to identified, said they had received information from oil companies about the retail price for Tuesday. The memo on the new prices was reviewed by Reuters.
The Hewlett Foundation, one of the top American philanthropic institutions, has been barred by the ministry of home affairs from donating funds to any Indian NGO without prior government approval after the alleged violation of laws by recipients, officials said. The US-based donor gave over $465 million to scores of organisations globally, including in India, in 2020.