CATEGORIES

Pandemic spurs Indian firms to boost CSR spending, compliance

The number of companies defaulting on their corporate social responsibility (CSR) spending commitments plummeted in FY21, even as an increasing number of companies went beyond their legal obligations to contribute to their communities, corporate affairs ministry data showed.

'Nifty could hit 18,000 level as FPIs turn upbeat'

The pullback rally seen over the past Il sessions could extend the Nifty level to 18,000 as foreign portfolio investors (FPIs) cover bearish derivative bets while simultaneously turning net buyers in the cash segment in March and so far this month, two analysts said, while a third expects FPIs to retain their bearish bets and the market to consolidate with a negative bias.

Economists expect prolonged rate pause

AIthough the Reserve Bank of India (RBI) signalled it won't hesitate to hike rates again despite hitting the pause button in April, several economists now expect the central bank will keep its repo rate on hold for an extended period.

Maruti eyes 25% of India SUV market

Maruti Suzuki India Ltd is aiming to capture a 25% share of the rapidly expanding sport utility vehicle (SUV) market, more than doubling its share by the end of the current fiscal year, a top executive said.

Temasek unit takes control of Manipal

Singapore's Sheares buys controlling stake for ₹16,400 crore

Musk sees $14 tn cost to stick with fossil fuels

Converting the world to entirely clean energy needs a huge $10 trillion worth of investment, but continuing to rely on fossil fuels would cost even more, according to Elon Musk.

JLR sales grow 24% as chip supplies improve

Jaguar Land Rover, the luxury vehicle unit of Tata Motors Ltd, reported a surge in sales for the March quarter on the back of a “gradual improvement in chip and other supply constraints\".

RBI's surprise move boosts markets amid global woes

Indian stocks and bonds got a boost on Thursday as the Reserve Bank of India (RBI) unexpectedly chose to keep policy rates unchanged at 6.5%, with benchmark indices Sensex and Nifty closing higher for the fifth consecutive session despite mixed global markets.

Adani Wilmar revenue rises 14% to 55,000 cr in FY23

Fast-moving consumer goods firm Adani Wilmar a joint venture between Adani Enterprises and Wilmar International, posted revenues of ₹55,000 crore in FY23, up 14% from ₹54,213.5 crore in 2021-22.

Short getaways a hit for Easter weekend

Travel and hotel companies are seeing a spurt in demand for short-haul tourist destinations during the long Good Friday weekend.

'Didn't get any good plan for NPCI rival'

The Reserve Bank of India on Thursday said it didn’t receive any innovative proposal from the industry on creating a rival entity to retail payments umbrella entity National Payments Corporation of India (NPCI), effectively putting it on the backburner three years after issuing the guidelines.

Web portal on unclaimed funds, rules for credit scoring cos

The Reserve Bank of India on Thursday said it plans to open a web portal to allow depositors search for their unclaimed deposits across banks, and issued norms to make credit information companies (CICs) more accountable, measures aimed at helping consumers.

RBI allows pre-approved credit lines for payments over UPI

Individuals with pre-approved credit lines from banks will soon be able to use it to make payments over the Unified Payments Interface (UPI), the Reserve Bank of India (RBI) said on Thursday, setting the stage for new credit products over the homegrown payments platform.

Organ donation chapters to give fresh lease of life to NCERT curriculum

As part of India’s drive to promote organ donation, the Union health ministry has drafted a curriculum titled “organ donation\" to sensitise school students on the issue.

Drop limit on value for goods exports via courier: ICRIER

Making a case for the removal of value limit on exports through courier, an ICRIER report, has said such limits place Indian express companies and exporters at a disadvantage against global competitors.

No final decision of milk products on import yet: Govt

The Union government on Thursday clarified that no final decision has been taken on import of milk products such as ghee and butter and that if at all such a decision is taken, imports would be routed only though the National Dairy Development Board (NDDB), which would ensure that the market is not distorted and the interests of dairy farmers are protected.

Google CEO Sundar Pichai says search to feature Chat AI

Google plans to add conversational artificial-intelligence features to its flagship search engine, Chief Executive Officer Sundar Pichai said, as he steers the tech company's response to competition from chatbots such as ChatGPT and to wider business pressures.

Govt ties local gas price to global crude benchmarks

The cabinet committee on economic affairs (CCEA) on Thursday approved new gas pricing guidelines, paving the way for linking domestic natural gas prices in India to global crude prices.

Self-regulation, intermediary tag for gaming sector

Online gaming companies must act as digital intermediaries, verify games and customers in real-money games, weed out fake information, and follow the rules set by self-regulatory bodies, the Union government said on Thursday.

RBI holds steady on rates, but pause may not endure

Governor Shaktikanta Das said the decision is specific to April MPC meeting only

'US-China Conflict Could Hit Global GDP'

Geopolitical fragmentation, driven by tensions between the US and China, risks damaging the global economy, with foreign direct investment and other capital increasingly being channeled toward aligned blocs of countries, the International Monetary Fund warns.

Apple Stores Are Almost Here; Mumbai To Host India's First

Apple Inc. will open its first flagship retail store in India in Mumbai, marking a significant milestone for the US giant as part of its efforts to ramp up both sales and manufacturing activities in the country.

India's post-pandemic potential growth could be pushed higher

We need deeper structural changes to drive more investments, raise productivity and enhance women's labour participation

We need reforms that'll ensure justice prevails

The latest India Justice Report' lays bare how far behind we are on satisfying basic ideals of the rule of law. To uphold this promise, judicial and police reforms in India are a must

Mastercard to require banks to use recycled materials for cards

Mastercard Inc. wants the plastic in consumers' wallets to do less damage to the environment.

Credit growth is moderating: Kotak

Credit growth is moderating from its post covid highs as the Reserve Bank of India's rate hikes begins to hit demand. According to the latest analysis by Kotak Institutional Equities based on RBI data, nearly all the key markets by geography are showing a reversal from high loan growth levels. A similar trend is also seen even in ticket sizes as well.

Adani Ports cargo grows 9% in FY 23

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9% growth in cargo handling at seaports it operates for fiscal year ended 31 March.

Gold jumps ₹1,025 to touch life-time high

Gold price rallied ₹1,025 to touch a lifetime high of ₹61,080 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities.

Hero MotoCorp announces VRS

Two-wheeler Wednesday retirement scheme for its staff with an aim to improve efficiency and become a lean and more productive organization.

Reliance Retail in beauty, personal care biz with Tira

Reliance Retail Ltd, on Wednesday announced the launch of Tira, an omni-channel beauty retail platform further fueling competition in India’s beauty and personal care market.