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Mumbai: Benchmark stock indices Sensex and Nifty surged by nearly 2 per cent on Monday, extending their winning run to a third straight day on gains in index major Reliance Industries, Infosys and TCS amid a firm trend in global equities. The 30-share BSE Sensex rallied 1,041.08 points or 1.90 per cent to settle at […]
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Hyderabad: Airtel Xstream Fiber has announced the launch of its new all-in-one plans which includes unlimited high-speed broadband, 17 premium OTTs, 350 TV channels and Airtel Black service. To serve the needs of premium households who want the next generational connectivity and entertainment experience, Bharti Airtel (Airtel), has raised the bar in the home broadband […]
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New Delhi: Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL’s Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) — a subsidiary of Tata Motors — and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with […]
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Mumbai: The rupee appreciated 12 paise to 77.46 against the US dollar in opening trade on Monday, supported by a fall in the dollar index and positive domestic equities. At the interbank foreign exchange, the rupee opened at 77.53 against the American dollar, then gained further ground to quote 77.46, registering a rise of 12 […]
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New Delhi: Domestic equity indices extended their gains from the previous week and jumped sharply during the opening session on Monday. At 9.42 a.m., Sensex was 820 points up at 55,705, whereas Nifty 241 points up at 16,594 points. Other Asian markets too were in the green. Indices jumped as investors are reacting to growing […]
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New Delhi: India has started the groundwork for 5G spectrum auctions slated to take place this year, as announced by the Secretary of the Telecommunications Department and Chairman of the Digital Communications Commission, K Rajaraman late last year. The country being the world’s second-largest telecommunications market is planning to roll out 5G mobile services within […]
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New Delhi: Continuing their selling spree, foreign investors have dumped Indian equities worth over Rs 39,000 crore this month so far amid rising bond yields in the US, an appreciating dollar and prospects of more aggressive rate hikes by the Federal Reserve. With this, the net outflow by foreign portfolio investors (FPIs) from equities has […]
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Hyderabad: Different players in the startup ecosystem see the current challenging situation as a passing phase and believe that there is lot of correction happening, which would result in the best companies staying afloat. Sanjay Enisetty, founder of early-stage venture fund firm 50K Ventures, calls it interesting time for startups. “It’s interesting time, not a […]
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New Delhi: Prime Minister Narendra Modi on Sunday said that even in this phase of the global pandemic, Indian ‘startups’ have been creating wealth and value. In monthly radio address ‘Mann Ki Baat’, Prime Minister Modi said, “On the 5th of this month, the number of unicorns in the country has reached the figure of […]
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Mumbai: Snapping 10 consecutive weeks of decline, India’s foreign exchange (forex) reserves rose by USD 4.23 billion to USD 597.509 billion for the week ended May 20, the Reserve Bank of India (RBI) data showed. This is the first increase in India’s forex reserves in the past 11 weeks. The forex reserves had declined by […]
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New Delhi: Breaking his silence on India plans, Elon Musk has said that Tesla will not manufacture cars in India unless it is allowed to sell and provide service to its electric vehicles. On Starlink, he said that SpaceX is still waiting for the Indian government’s approval. “Tesla will not put a manufacturing plant in […]
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New Delhi: The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operations of currency and payment systems. “The Reserve Bank proposes to adopt a graded […]
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New Delhi: Domestic equity benchmark indices extended their gains from the previous session and traded in the green during trade on Friday amid firm global cues. Indian markets opened higher in line with Asian markets and sharply positive overnight US markets. At 9.58 a.m., Sensex was at 54,615.81 points, up 363.28 or 0.67 per cent, […]
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Mumbai: The rupee appreciated 2 paise to 77.59 against the US dollar in the opening trade on Friday, supported by heavy buying in domestic equities and a weak greenback in the overseas markets. However, rising global crude prices and persistent foreign fund outflows capped the rupee’s gain, forex traders said. At the interbank foreign exchange, […]
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Hyderabad: GMM Pfaudler, which manufactures glass lined reactors, tanks and columns for pharmaceutical and chemical companies, announced expansion of its facility in Hyderabad. The company will invest an additional $3.7 million (about Rs 28 crore) to increase the capacity. GMM Pfaudler had earlier invested $6.3 million (about Rs 48.5 crore) in acquisition of the glass […]
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London: Consumer tech brand Nothing is likely planning to launch its first smartphone, Nothing Phone (1), with a transparent design on July 21. The brand is targeting a price range of around 500 euros ($534), GizmoChina reported on Wednesday citing a German publication. The pricing suggests that the upcoming smartphone may not be a flagship device. […]
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Chennai: Some bad news for the vehicle owners already affected by the accelerating fuel price increase. From June 1, 2022 onwards, the motor third party liability insurance premium has been jacked up by the central government despite the portfolio being hugely profitable for the insurers. The central government has also withdrawn the 15 per cent […]
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Mumbai: Equity benchmark indices opened in the green on Thursday with Sensex up by 196.28 points and Nifty by 45.50 points. At 9:38 AM, the BSE Sensex was up by 196.28 points or 0.37 per cent at 53,945.54. BSE Limited, also known as the Bombay Stock Exchange, is the oldest stock exchange in Asia, and […]
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Mumbai: The rupee appreciated 3 paise to 77.52 against the US dollar in the opening trade on Thursday as a positive trend in domestic equities and weak American currency overseas supported the local unit. However, rising crude oil prices in the international markets and continued foreign fund outflows kept the pressure on the domestic currency, […]
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Hyderabad: Switzerland headquartered Ferring Pharma has announced the establishment of another formulation unit in India at Hyderabad for manufacturing of its product called Pentasa (Mesalazine). Ferring will invest approximately € 60 million (about Rs 500 crore) over the next 2-3 years for establishing this manufacturing facility. Pentasa is a Ferring product used for the treatment […]
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Hyderabad: Schneider Electric has decided to expand its unit and set up a second state-of-the-art manufacturing unit in Hyderabad. The first facility of Schneier Electric was also adjudged the “Advanced Light house” by implementing 4 IR technologies such as IIOT infrastructure , predictive / prescriptive analytics and AI deep learning by World Economic Forum this […]
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Hyderabad: Hyderabad-based electric ride-sharing platform Hala has announced on Wednesday that it has raised $1 million led by Magnifiq Securities. The startup is a 100 per cent electric ride-sharing platform solving last-mile connectivity problems and the fresh funds will be used to significantly increase the number of electric vehicles, improve infrastructure for swapping, and research […]
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Mumbai: The Axis Mutual Fund had a combined corpus of Rs 2.59 lakh crore as of end of March 2022 and was the seventh largest mutual fund in terms of AUM (assets under management) in the company. As recently as November 21, 2021 the fund had reassigned various schemes to different fund managers. Some of […]
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San Francisco: A US judge has denied Tesla’s motion for arbitration in a sexual harassment case, directing that the lawsuit accusing Elon Musk-run electric car company fostering a workplace with “rampant” sexual harassment will continue. Tesla now must defend itself in court against claims that female employees face “rampant sexual harassment” at its Fremont, California-based […]
