Day: September 26, 2022

FPIs pump in Rs 8,600 crore in September in equities; pace of investment slows

NEW DELHI: After infusing more than Rs 51,000 crore last month, foreign investors have slowed down the pace of equity buying in India in September so far, as they invested a little over Rs 8,600 crore, on sharp depreciation in rupee. Going forward, Foreign Portfolio Investors (FPIs) are unlikely to buy aggressively amid rising dollar, […]

Mutual Funds add 7 million accounts in 5 months of FY23 as awareness, digital access rise

NEW DELHI: With increase in digital access and growing awareness about mutual funds, asset management companies (AMCs) have added close to 70 lakh investor accounts in the first five months of the current fiscal, bringing the total to 13.65 crore. This came following an addition of 3.17 crore investor accounts in 2021-22 and 81 lakh […]

PLI schemes should focus on firms making pharma products: Bharat Biotech

NEW DELHI: Production-linked incentive schemes should also focus on companies providing packaging materials and other services in addition to manufacturers of branded pharmaceutical items to reduce import dependence, according to Bharat Biotech Executive Director Sai Prasad. He also emphasised on shifting the focus towards innovative pharmaceuticals products in order to enhance the margins for industry […]

About 393 infrastructure projects show cost overruns of Rs 4.65 trillion

NEW DELHI: As many as 393 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.65 lakh crore, as per a report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out […]

Century Plyboards expecting 20-25% revenue growth this fiscal year

NEW DELHI: Century Plyboards is expecting a 20-25 per cent growth in revenue this fiscal and is setting up a new Rs 700-crore manufacturing plant in Andhra Pradesh, its ED Keshav Bhajanka said. Kolkata-based Century Plyboards — one of the leading players in the wood panel sector — currently has nine manufacturing plants in West […]

Salesforce to increase India headcount to 10,000 by January next year: CEO

SAN FRANCISCO: Salesforce India will increase its headcount in the country to 10,000 by January next year from 7,500-plus currently, its chairperson and CEO Arundhati Bhattacharya has said. Bhattacharya further said that in the order of priority, the focus areas for Salesforce in India are banking, financial services and insurance (BFSI), manufacturing, services and social […]

Russia backs India, Brazil for permanent membership in UN Security Council

UNITED NATIONS: Russia has voiced its support for India and Brazil as worthy candidates for permanent membership in the UN Security Council, calling them key international actors. During the 77th Session of the UN General Assembly, Russian Foreign Minister Sergey Lavrov on Saturday expressed his support for India, becoming a permanent member of the Security […]

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