Giri world

UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/f1aJQYs >

The sensex closed 499 points higher at 78,540 on Monday with gains in financials and IT stocks, influenced by softer US inflation data. Domestic funds recorded a net inflow of Rs 2,228 crore. HDFC Bank, Reliance Industries, ITC, and ICICI Bank were major contributors to the rally. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vPfJ8lS >

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The GST Council has approved a "track and trace" system to combat tax evasion on specific goods, starting with cigarettes and potentially pan masala. This system uses unique identification markings to monitor products throughout the supply chain, addressing significant revenue losses from smuggling and illicit trade, estimated at Rs 21,000 crore annually for cigarettes alone. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/f2OIKUv >

Encyclopaedia Britannica, once a weighty symbol of knowledge, has successfully transitioned to the digital age. By embracing AI and expanding into educational software and online dictionaries, the company has achieved impressive profit margins and is now considering a $1 billion IPO. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1XM6NTA >

Former RBI Governor Raghuram Rajan revealed that ex-Finance Minister Arun Jaitley supported his decisive action on tackling bad bank loans. Rajan attributed the NPA surge to corruption, delayed clearances, and the global financial crisis. He also pointed to slow government recapitalization hindering lending. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/aijx0dA >

TCS and Infosys added twelve $100 million+ clients each post-pandemic, outpacing Wipro and HCLTech's seven. While TCS and Infosys boasted 62 and 40 such clients respectively by 2023-24, Wipro and HCLTech had 22 each. Large deal wins slowed across the industry due to reduced spending and global uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nuTYBjA >

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The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dWIsn5b >

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Finance Minister Nirmala Sitharaman addressed concerns about India's economic slowdown, calling the second-quarter dip a "temporary blip." She highlighted the country's strong average growth rate of 8.3% over the past three years and emphasized the government's commitment to managing inflation, citing recent positive trends and supply-side measures. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3j1UnV7 >

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Indian tech companies are rolling out innovative perks to attract and retain millennial and Gen Z employees. These include unlimited sick leave, pet-friendly policies, and "well-being days" to combat burnout and boost productivity. Companies are also focusing on skill development, diversity, and flexible work arrangements to cater to the evolving needs of the younger workforce. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4kgOVCS >

Mukesh Ambani and Gautam Adani, once centibillionaires, have seen their fortunes decline. Ambani's Reliance conglomerate faces underperforming energy and retail businesses, while Adani confronts a US Department of Justice probe over alleged bribery, adding to the fallout from previous fraud accusations. Both tycoons are battling to regain investor confidence amidst these mounting challenges. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/51oNZlA >

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Indian companies shattered fundraising records in 2024, raising over ₹1.2 lakh crore through Qualified Institutional Placements (QIPs) by November. This surge, driven by a robust stock market and high valuations, doubled the previous year's figures. Giants like Vedanta and Zomato led the charge, each raising ₹8,500 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8LEXbB0 >

Coal India Ltd. has invested Rs 5,570 crore in corporate social responsibility (CSR) projects over the last ten years, focusing on education, healthcare, sports, skill development, and women's empowerment. West Bengal Governor C V Ananda Bose and Coal Secretary Vikram Dev Dutt commended the company's efforts, particularly in tribal areas and coal-bearing regions. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZbH4jfW >

India's Unified Payments Interface (UPI) processed a staggering 15,547 crore transactions worth Rs 223 lakh crore between January and November 2024. UPI's global reach now extends to seven countries, solidifying India's position as a leader in digital payments. October saw a record 16.6 billion UPI transactions, highlighting its transformative impact on the nation's financial landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WjfQwHN >

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The Enforcement Directorate (ED) has returned properties worth Rs 4,025 crore to JSW Steel, the successful bidder for the bankrupt Bhushan Power and Steel Ltd (BPSL). The assets were originally seized by the ED during a money laundering investigation that revealed BPSL's former promoters had defrauded banks of Rs 47,204 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OZ3njkg >

The Sensex surged 843 points to a two-month high of 82,133, driven by strong foreign fund inflows and buying in FMCG, IT, and banking stocks. This followed a volatile session with a 2,100-point intraday swing, influenced by global market weakness and uncertainty about China's economic recovery. Market sentiment remains cautious due to rising US Treasury yields and a weaker rupee. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/A9jvro4 >

India's retail inflation eased to 5.5% in November from a 14-month high, driven by moderating food prices. Industrial output saw a modest 3.5% rise in October. While food inflation slowed, vegetable and edible oil prices remain high. Experts anticipate a potential rate cut in February if the trend continues, though urban demand needs monitoring. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/fL2ylK4 >

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Sanjay Malhotra, the new RBI governor, emphasized stability, trust, and growth as the central bank's core values. He stressed the importance of financial inclusion in fostering India's continued growth trajectory. While prioritizing policy stability, Malhotra promised agility and a consultative approach, acknowledging the need for diverse expertise in navigating a complex global landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tAWSGvn >

Zepto is launching a separate app, Zepto Café, to deliver food items like chai, samosa, and pizza within 10 minutes. This move challenges established players like Zomato and Swiggy in the rapidly growing quick-commerce food delivery market. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jMJX9CN >

Amazon India's senior VP, Amit Agarwal, amidst regulatory scrutiny, affirms compliance and advocates for progressive e-commerce policies. He emphasizes investments in logistics and infrastructure, not cash burn, and highlights a new quick commerce pilot program in Bangalore. Agarwal reiterates Amazon's long-term commitment to India's growth. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5lLuV0P >

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Nissan faces a potential bankruptcy within the next year due to a 70% profit plunge and a $60 million loss. The company plans a $3 billion restructuring, including 9,000 job cuts and production reductions. A potential merger with Honda is being considered as a solution to navigate the challenging automotive market and bolster its struggling electric vehicle offerings. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nZvJj0c >

Revenue secretary Sanjay Malhotra has been appointed as the new RBI governor, succeeding Shaktikanta Das. The 56-year-old IIT Kanpur and Princeton University alumnus will begin his three-year term on December 11th. Malhotra's appointment marks a continuation of bureaucratic leadership at the central bank, following Das's tenure of close coordination with the government. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/owTG1jq >

The Confederation of Indian Industry (CII) has recommended that the Indian government maintain its fiscal deficit targets of 4.9% of GDP for 2024-25 and 4.5% for 2025-26. CII cautions against more aggressive targets, citing potential negative impacts on economic growth. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TfVg0yM >

Market direction in the coming week will be influenced by foreign fund flows, investor reactions to IPOs, and geopolitical shifts after the Syrian regime's collapse. Inflation data and the rupee's performance against the dollar will also play a role. These factors will determine if indices continue their winning streak. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MRXlTh4 >

Indian billionaires' wealth surged 42% to over $905 billion in the last financial year, making India the third largest billionaire base globally. This growth is fueled by family-led businesses, a favorable economic environment, and structural reforms. Globally, billionaire wealth growth has slowed, but India remains an exception, potentially mirroring China's prior growth trajectory. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XOlz3Ca >

Taiwan's stock market surges amidst the global AI boom, outpacing South Korea's struggling market. Taiwan's dominance in the semiconductor industry, particularly TSMC's success, fuels this growth. Meanwhile, South Korea grapples with political instability and Samsung's underperformance. Despite looming US tariff threats, Taiwan appears better positioned due to its crucial role in US tech supply chains. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5JaYE8K >

A research paper revealed UPI's transformative impact on India's financial landscape. Since its 2016 launch, UPI has facilitated seamless digital transactions for millions, becoming the dominant retail payment method. This widespread adoption, fueled by affordable internet access, has boosted credit access, particularly for underserved borrowers, while maintaining low default rates. The success story holds global implications for digital finance. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1PRgmMY >

Mahindra & Mahindra is renaming its electric SUV "BE6e" after IndiGo airlines' parent company, Interglobe, objected to the use of "6E." Mahindra plans to contest Interglobe's objections in court, seeking brand rights for "BE 6e" while Interglobe seeks control over "6E." Mahindra argues that "BE" represents its "born electric" platform and is distinct from IndiGo's airline code. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Jx8L2h >

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Finance Minister Nirmala Sitharaman asserted that the slower second-quarter growth doesn't signal a systemic slowdown, attributing it to reduced public spending during the election season. She anticipates a rebound in the third quarter and maintains India's position as the fastest-growing major economy for the coming years, despite global economic challenges and climate change impacts. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Hb6ZF4i >

The Reserve Bank of India (RBI) maintained its policy rate at 6.5% but lowered the economic growth forecast for 2024-25 to 6.6% from 7.2%. A CRR cut to 4% will release ₹1.6 lakh crore for banks. The RBI acknowledged a recent economic slowdown but anticipates a recovery driven by festive demand and improved agricultural output. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dVY2pCo >

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India's healthcare sector, particularly hospitals, has witnessed a surge in foreign direct investment, reaching $1.5 billion in FY24. This represents a significant increase, more than doubling hospitals' share of FDI since FY21. Post-Covid, investor interest has shifted towards hospitals and diagnostics, leading to major buyouts and increased IPO activity, driven by market demand and growth in insurance coverage. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3SF9ga4 >

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Bank credit growth has slowed to 11.1% as of Nov 15, 2024, compared to 20.6% the previous year. Deposit growth also decreased, with banking system deposits rising by only 6.7% since March. Banks are liquidating govt bonds due to slower deposit growth. Retail lending and NBFC loans have similarly declined. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sNFjOem >

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The rupee hit a record low of 84.73 against the dollar, driven by strong dollar demand and Trump's tariff threats to BRICS nations. Weaker-than-expected Q2 growth and global factors compounded the decline. RBI intervention limited further losses, but analysts predict continued pressure with potential geopolitical tensions impacting the rupee's value. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7hvucjn >

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India’s economic growth slowed in the September quarter, leading to concerns about stock market weakness. Market participants expect a recovery if the Reserve Bank of India cuts interest rates or reduces cash reserve ratios. Analysts have mixed views on the extent of further market corrections but anticipate limited near-term upside due to earnings and valuation issues. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wZ1Hkyi >

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Domestic stock indices in India are preparing for RBI's monetary policy decisions after Q2 FY25 GDP growth slowed to 5.4%, the lowest in two years. The upcoming week brings crucial data releases, with market focus on the RBI MPC's interpretation of GDP data and their stance on rate trajectory. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Yqd7PVA >

US retail sales saw an annual growth of 3.4% on Black Friday, with e-commerce increasing by 14.6% and in-store sales by 0.7%, according to Mastercard. Key drivers included online purchases on mobile devices. Facteus data indicated flat sales for Best Buy and Target, while Adobe reported a 10.2% increase in online spending to $10.8 billion on Friday. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w19ydWC >