M-cap of nine of top 10 most valued firms erodes by over Rs 2.6 trillion
NEW DELHI: The market valuation of nine of the top-10 most valued companies eroded by Rs 2.62 trillion last week in tandem with an overall weak broader market, where Bajaj Finance and Reliance Industries took the biggest hit. During the last week, the Sensex plunged by 2,528.86 points or 4.24 per cent. Bharti Airtel was […]
Investors’ wealth tumble over Rs 4.48 lakh crore as markets plummet
NEW DELHI: Investors’ wealth tumbled Rs 4.48 lakh crore during day trade on Friday with the BSE benchmark plummeting 1,488 points tracking weak global trends. The 30-share benchmark index tumbled 1,488.01 points during the day to 57,307.08. The market capitalization of BSE-listed tanked Rs 4,48,223.31 crore to Rs 2,61,18,730.57 crore during the day. “Equity markets […]
India’s forex kitty increases by $289 million to $640.40 billion
NEW DELHI: India’s forex exchange reserves increased by USD 289 million to USD 640.401 billion for the week ended November 19, the Reserve Bank said on Friday. The overall reserves had declined by USD 763 million to USD 640.112 billion in the previous reporting week. They had touched a life time high of USD 642.453 […]
Ikea to build India’s first shopping centre in Gurugram
NEW DELHI: IKEA’s mall business, one of the world’s biggest, said on Tuesday it had bought a plot in Gurugram next to New Delhi for a shopping centre that will be its first to open in India. Ingka Centres, which has 47 malls, that itself calls “meeting places”, anchored by IKEA stores across Europe, Russia […]
Airports to attract Rs 90,000 crore in investments over five years: India’s Civil Aviation Secretary
NEW DELHI: India’s airports sector is expected to see an investment of Rs 90,000 crore in a five-year period, with nearly Rs 68,000 crore coming from the private players, a senior official said on Wednesday. The civil aviation sector, which was battered by the coronavirus pandemic that had also resulted in the suspension of domestic […]
Narendra Modi lays the foundation Stone of Noida International Airport
NEW DELHI: Prime Minister Narendra Modi laid the foundation Stone of Noida International Airport, Uttar Pradesh today. The airport is spread across an area of 5,000 acres and is being developed by Zurich International Airport AG at an estimated cost of Rs 29,560 crores. The Swiss Airport company had won the bid in November, 2019 […]
Mamata Banerjee inviting PM Narendra Modi to business meet in Bengal triggers war of words between TMC, Congress
NEW DELHI: A war of words broke out between the Congress and the Trinamool Congress (TMC) on Wednesday after West Bengal Chief Minister Mamata Banerjee invited Prime Minister Narendra Modi to inaugurate a global business meet to be hosted by her government, with the grand old party claiming that the “understanding” between the two parties is […]
India, ADB sign $300 million loan to improve primary health care in India
NEW DELHI: The Government of India and the Asian Development Bank (ADB) have signed a $300 million loan to strengthen and improve access to comprehensive primary health care in urban areas of 13 states that will benefit over 256 million urban dwellers including 51 million from slum areas. Rajat Kumar Mishra, Additional Secretary, Department of […]
Magenta signs MoU with Tamil Nadu to invest over Rs. 250 crores to set up an EV manufacturing plant
NEW DELHI: Magenta, a leading Indian Charge Point Operator (CPO) company, signed a Memorandum of Understanding (MoU) with the State Government of Tamil Nadu to invest in building the EV charging infrastructure in the state. Maxson Lewis, CEO and MD, Magenta, signed the MoU in the presence of the Chief Minister of Tamil Nadu, Thiru. […]
India records close to 15% rise in export of agricultural and processed food products in April-October
NEW DELHI: In a major boost to export prospects of agricultural produce, India registered a significant surge in export of agricultural and processed food products in April-October period of current Financial Year, 2021-22, in comparison to the corresponding seven month period of last fiscal, 2020-21. According to the Quick Estimates released by the Directorate General […]
Nirmala Sitharaman to lead a team of Secretaries for discussions at GIFT City
NEW DELHI: Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman will lead a team of seven Secretaries from the Ministry of Finance and Ministry of Corporate Affairs to discuss matters of development and growth of India’s maiden International Financial Services Centre (IFSC) at GIFT City, Gandhinagar on 20th November, 2021. The Ministers of State […]
Axon Developers acquire 2 stress projects, to invest Rs 350 crore
NEW DELHI: Axon Developers, new age Real Estate development company, has kick-started its operations by acquiring two stress asset projects in Delhi NCR. The company said that it would invest Rs 350 crore for the completion of around 750 units in the two residential projects. The investment will be through internal accrual and sales. The […]
Narendra Modi announces repeal of 3 farm laws
NEW DELHI: Prime Minister Narendra Modi on Friday announced that the Centre has decided to repeal all three farm laws. In an address to the nation, he said, “We have decided to repeal all three farm laws, will begin the procedure at the Parliament session that begins this month.” He urged the protesting farmers to […]
Bihar will soon have its own Khadi policy
Patna: Bihar Industries Minister Shahnawaz Hussain on Thursday said the state government would soon come out with a Khadi policy to create maximum employment in the state. Talking to reporters here, Hussain said the policy will be finalised after taking suggestions from Khadi Committees in the state. The minister announced the formation of a core […]
JMM blockades Tata factories to protest shifting of TCPL HQ to Maharashtra
JAMSHEDPUR: Jharkhand Mukti Morcha (JMM), on Wednesday blockaded the main entrances of Tata group of companies here as well as Tata-run mines in West Singhbum district, to protest shifting of the head office of a few Tata group companies including Tata Cummins. JMM MLA from Ghatsila, Ramdas Soren, who is also the East Singhbhum district […]
Vedanta mulls group restructuring; separate listing of businesses
NEW DELHI: Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it is mulling restructuring of the mining behemoth that may include demerger and listing of the aluminium, iron & steel, and oil and gas businesses as standalone entities. Under the restructuring being evaluated, Vedanta Ltd and three businesses will operate parallelly, chairman Agarwal told PTI. […]