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Rupee ends at 85.97 after breaching 86-mark for first time

THE RUPEE DECLINED 11 paise to close at 85.97 against the US dollar on Friday as it failed to resist pressure from a stronger American currency amid huge outflow of foreign funds.

Fx reserves at 10-month low as rupee pressure mounts

FOREIGN EXCHANGE RESERVES fell for the fifth consecutive week to a 10-month low of $634.59 billion as of January 3, data from the Reserve Bank of India showed on Friday.

NaBFID Plans Record ₹40K-Cr Fundraising

STATE-OWNED NATIONAL BANK for Financing Infrastructure & Development (NaBFID) is targeting its largest-ever fundraising for the January-March period to back the nation's ambitious growth push.

Liquidity woes prompt RBI to hold largest VRR auction in a year

AS THE LIQUIDITY deficit deepens further, the Reserve Bank of India (RBI) on Friday conducted its largest variable rate repo (VRR) auction in nearly a year with a notified amount of ₹2.25 lakh crore.

Capital fundraising to rise 21% this fiscal: Sebi chief

Regulator will soon launch SIPs with a minimum amount of ₹250

SBI Chairman for Tracking of Funds Raised by Small Biz

STATE BANK OF India chairman CS Setty on Friday pitched for the creation of a market infrastructure institution to track the end-use of funds borrowed or raised as equity by small businesses.

Byju's staff files ₹177-cr claims

In the ongoing corporate insolvency resolution process of Byju's, employee claims filed as operational creditors have reached ₹177.5 crore, with approximately ₹32.56 crore being provisionally admitted by the resolution professional (RP), according to a document reviewed by FE.

AI-powered healthcare firm Innovaccer raises $275 mn

SAN FRANCISCO AND NOIDA-HEADQUARTERED artificial intelligence-powered healthcare platform Innovaccer has raised $275 million in a Series F funding round, marking its first capital infusion since 2021.

Vi Exits Indus With ₹2.8K-Cr Stake Sale

BRITISH TELECOM FIRM Vodafone has sold its entire stake in Indus Towers for ₹2,800 crore, the telecom infrastructure firm said on Friday.

Growth trajectory set to return for Reliance Retail in Dec quarter

Consolidation period over, say analysts

SpiceJet set to bring 10 planes back to service amid dip in operations

The return of these planes will boost the carrier's fleet to 38 aircraft

Analysts Cautiously Optimistic on TCS Growth Prospects

IT major seeing signs of revival in discretionary spends

Adani raises ₹4,850 cr from sale of 13.5% stake in Wilmar

ADANI GROUP ON Friday raised ₹4,850 crore from the sale of 13.5% of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business.

Bistro app not to use Zomato data, says Blinkit's Dhindsa

BLINKIT'S QUICK FOOD delivery app Bistro will operate independently and it will not use any data from its Gurugram-based parent Zomato's food delivery and dining-out operations, Blinkit CEO Albinder Dhindsa clarified on Friday.

Appliances association prez seeks smartphone PLI 2.0

AS THE SMARTPHONE production-linked incentive (PLI) scheme emerges as one of India's most successful policies, the industry is advocating for another round of the scheme to achieve greater scale and sustain its momentum.

Infy counter-sues Cognizant

Alleges data misuse and anti-competitive conduct by US firm

Luxury car segment ended 2024 on a muted note despite robust demand

INDIA'S LUXURY CAR market, represented by five major automotive brands, saw paltry growth in 2024 as supply chain issues impaired the upturn despite robust demand.

Private Insurers Show 239% Jump in Motor Commission Payouts

DESPITE CONCERNS RAISED by the Insurance Regulatory and Development Authority of India (Irdai), private sector general insurers reported a 239% jump in commission expenses in the motor insurance segment in fiscal ended March 2024.

India to Join Key Session on AI, FDI at WEF 2025

INDIA WILL PARTICIPATE in a session on artificial intelligence (AI) and foreign direct investment (FDI) at the World Economic Forum (WEF) annual meeting in Davos, the commerce and industry ministry said on Friday.

In a first, selection process for next CEC casts wider net

EARLIER, MOST SENIOR EC WAS DEFAULT CHOICE TO SUCCEED CEC

Govt seeks to turn startup focus to manufacturing

THE DEPARTMENT FOR promotion of industry and internal trade (DPIIT) on Friday held a meeting with 75 alternate investment funds (AIF) that are fed by the government's Fund of Funds Scheme (FFS) to discuss capital mobilisation efforts for startups, as the government seeks to have a thriving startup ecosystem in every district of the country by 2025 and turn their focus to manufacturing.

Experts pick holes in govt claim of sharper employment growth

Amid an acute job crisis evident from anecdotal accounts, stagnant corporate headcount, low wage growth, and data from independent agencies like the Centre for Monitoring Indian Economy (CMIE), the government has recently sought to paint a rosy picture.

Niti VC seeks balance between govt and corp debt markets

NITI AAYOG is exploring ways to realign the balance between the very deep government debt market and the corporate debt market, its vice chairman Suman Bery said on Friday.

IGX Expects to Receive Nod for Long-Duration Contracts Soon

THE INDIAN GAS Exchange (IGX) is planning to launch long-duration contracts of 3-6 months on its platform and is expecting the petroleum ministry's nod soon, its managing director and chief executive officer Rajesh Mediratta said on Friday.

Factory production grows at six-month high of 5.2% in Nov

INDIA'S INDUSTRIAL OUTPUT in November expanded at 5.2%, the highest pace in six months, on the back of a sharp uptick in manufacturing, according to data released by the government on Friday.

Dec tax devolution to states at ₹1.73 lakh cr

TO ACCELERATE SPENDING by states amid a moderation in the public capital expenditure, the Centre on Friday released ₹1.73 lakh crore in tax devolution to states for January as against the monthly devolution of ₹89,086 crore for December.

Climate-resilient farming likely to get funding boost

The coming Budget is likely to announce several incentives aimed at boosting the availability of climate-resilient seed varieties, especially in cereals, pulses and oilseeds, besides aiming to promote agricultural practices like natural farming for reduction of chemical fertiliser usage, official sources said.

New classification may ease approval for medical devices

THE CENTRAL DRUGS Standard Control Organisation's draft rules for re-classification of medical devices based on their risk profile has received wide support from the industry, as it will allow centralised and faster approval of high-risk equipment.

Outrage over L&T chief's hard work talk

90-HOUR WORK WEEK DEBATE

How Maha Kumbh is a pitching ground for brands

WITH 400 MILLION people in attendance, and manifold eyeballs on it, the Maha Kumbh is gargantuan not only in human presence, but in business opportunity as well.