India to achieve 500 GW renewables target before 2030 deadline: R K Singh
Addressing FICCI#39;s India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now.
Posted on 25 September 2023 | 1:35 pm
Chart of the Day: Aluminium output trend shifts up
Global daily average aluminium output in August was highest in 2023, with China’s output driving the increaseÂ
Posted on 25 September 2023 | 1:35 pm
Indian Metals Ferro Alloys zooms 12% as govt vows to pay Rs 417-cr damages
In December 2022, Indian Metals had notified the exchanges that its subsidiary, Utkal Coal Ltd, received Rs 20.69 crore in compensation from the Ministry of Coal for statutory expenses related to the Utkal #39;C#39; coal block, following the issuance of its vesting order to the new allottee.
Posted on 25 September 2023 | 1:23 pm
Mid-day Mood | Caution keeps investors on sidelines, Bajaj Finance shines in lacklustre market
Persisting headwinds like rising crude prices, a spike in bond yields, and subdued global cues kept investors on the sidelines.
Posted on 25 September 2023 | 1:16 pm
Congress list of candidates for Lok Sabha polls in Karnataka likely before January, says Deputy CM Shivakumar
The state Congress President also indicated that the Congress#39; list of candidates for the Lok Sabha polls is likely to be finalised before January.
Posted on 25 September 2023 | 1:14 pm
China#39;s Huawei kicks off product launch event by thanking country for its support
Yu Chengdong, CEO of Huawei#39;s consumer business group, took the stage at the event held at a stadium in Shenzhen, and said the company was working overtime and urgently manufacturing products as many as it could.
Posted on 25 September 2023 | 1:07 pm
LT Foods gains 3% on bullish outlook for convenience wing revenue
The convenience and health segment which is a new addition to its business set-up entails products such as ready-to-eat ‘Daawat Cuppa Rice,’ ‘Daawat Biryani Kits,’ and rice based snacks marketed under the brand name ‘Kari-Kari.’
Posted on 25 September 2023 | 1:02 pm
Ambulance service provider DIAL4242 closes $10 million seed funding round
This round was led by investors G Vamshi Raju, Starfish Ventures, and several Hyderabad-based angel investors, the company said.
Posted on 25 September 2023 | 1:02 pm
Moneycontrol Pro Market Outlook: Markets likely to consolidate in monthly expiry weekÂ
Most global markets closed in the red due to central banks#39; decisions and rising oil prices. The BSE Sensex fell 2.69 percent during the week, but a consolidation is in the works
Posted on 25 September 2023 | 1:02 pm
Mumbai to Marseilles: Why IMEEC is a breakthrough for 21st-century globalisation
It is starkly evident that given the constraints of longer distance and transit time via the southern Suez route and the northern TAR route, the IMEEC, a potential multimodal sea-land-sea corridor will become the preferred corridor. The eastern side of the IMEEC has developed infrastructure networks in the hinterlands and at ports in India, Gulf countries and Saudi Arabia
Posted on 25 September 2023 | 12:59 pm
Monsoon starts withdrawing from India, eight days after normal date
The late retreat of the monsoon this year is the 13th consecutive delayed withdrawal. Withdrawal of the monsoon from northwest India marks the beginning of its retreat from the Indian subcontinent.
Posted on 25 September 2023 | 12:58 pm
Sweet deal! Renuka Sugars soars on board nod to acquire Anamika Sugar Mills
The move is aimed at establishing a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of North and East India.
Posted on 25 September 2023 | 12:58 pm
MFs up their stake holding in mid-sized banks
In the last one year, some mid-size private sector banks have seen a jump in shareholding from mutual funds on the back of good performance by the banking sector, leading to an increase in share prices.
Posted on 25 September 2023 | 12:52 pm
Amazon to invest as much as $4 billion in AI startup anthropic
As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications.
Posted on 25 September 2023 | 12:51 pm
Berger Paints sheds 7.5% as it turns ex-bonus, volumes drop 60%
As of September 25 intraday trade, volumes of this paint and coating manufacturer slipped over two-fold to 29 lakh shares as against 75 lakh shares exchanged at both the exchanges September 22
Posted on 25 September 2023 | 12:50 pm
America’s mini economic miracle may be fleeting
Biden-era spending has turbocharged growth — but the resulting debts may bring pain
Posted on 25 September 2023 | 10:54 am
SP retains India#39;s FY24 growth forecast at 6% on slowing world economy, rising risk of subnormal monsoons
The US-based agency sees the recent spike in vegetable price inflation as being temporary, but revised up the full fiscal retail inflation forecast to 5.5 per cent, from 5 per cent earlier, on higher global oil prices.
Posted on 25 September 2023 | 10:49 am
SP retains India#39;s FY24 growth forecast at 6% on slowing world economy, rising risk of subnormal monsoons
The US-based agency sees the recent spike in vegetable price inflation as being temporary, but revised up the full fiscal retail inflation forecast to 5.5 per cent, from 5 per cent earlier, on higher global oil prices.
Posted on 25 September 2023 | 10:49 am
Japan shows how to defeat secular stagnation
Japan has come out of stagnation to lead the G7 developed economies in life expectancy, per capita growth and, for the first time in decades, an end to the deflation that oppressed CEOs and global investors alike. It is also providing the biggest dollar-denominated stock market returns anywhere in the world
Posted on 25 September 2023 | 10:34 am
Japan shows how to defeat secular stagnation
Japan has come out of stagnation to lead the G7 developed economies in life expectancy, per capita growth and, for the first time in decades, an end to the deflation that oppressed CEOs and global investors alike. It is also providing the biggest dollar-denominated stock market returns anywhere in the world
Posted on 25 September 2023 | 10:34 am
ADB reduces India#39;s GDP projection for FY24 to 6.3%
This downward revision is attributed to a slowdown in exports and potential disruptions in agricultural output due to unpredictable rainfall patterns. The GDP forecast for the fiscal year 2024-2025 remains unchanged at 6.7 percent
Posted on 24 September 2023 | 4:05 pm
Inclusion of Indian bonds in JP Morgan index to widen investor base, may boost rupee: What do the experts say?
The inclusion of Indian government bonds into JPMorgan#39;s benchmark emerging market index will widen the investor base, and may lead to an appreciation of the Indian Rupee, said Chief Economic Advisor V Anantha Nageswaran on September 22. Here is what the experts have to say
Posted on 24 September 2023 | 3:00 pm
Inclusion of Indian bonds in JP Morgan index to widen investor base, may boost rupee: What do the experts say?
The inclusion of Indian government bonds into JPMorgan#39;s benchmark emerging market index will widen the investor base, and may lead to an appreciation of the Indian Rupee, said Chief Economic Advisor V Anantha Nageswaran on September 22. Here is what the experts have to say
Posted on 24 September 2023 | 3:00 pm
Inclusion of Indian bonds in JP Morgan index to widen investor base, may boost rupee: What do the experts say?
The inclusion of Indian government bonds into JPMorgan#39;s benchmark emerging market index will widen the investor base, and may lead to an appreciation of the Indian Rupee, said Chief Economic Advisor V Anantha Nageswaran on September 22. Here is what the experts have to say:
Posted on 24 September 2023 | 3:00 pm
Even China#39;s 1.4 billion population can#39;t fill all its vacant homes, former official says
China#39;s property sector, once the pillar of the economy, has slumped since 2021 when real estate giant China Evergrande Group (3333.HK) defaulted on its debt obligations following a clampdown on new borrowing.
Posted on 24 September 2023 | 7:25 am
Larry Summers says world watching MDBs, last chance for them to make changes
Speaking at a session organised by the Ministry of Finance#39;s Department of Economic Affairs and the Confederation of Indian Industry in New Delhi, the former US Treasury Secretary also said India has the potential to grow at 8 percent per year until 2050
Posted on 23 September 2023 | 7:02 pm
Must ensure rupee stays competitive post bond index inclusion: CEA Nageswaran
According to economists, the inclusion of Indian government bonds in JPMorgan#39;s global indices could result in inflows of as much as $30 billion. This would exert upward pressure on the Indian rupee.
Posted on 22 September 2023 | 7:23 pm
The Reading List: September 22, 2023
A selection of articles and social media gems from the world of economy, business and finance, curated by our research and opinion teams
Posted on 22 September 2023 | 4:09 pm
JPMorgan#39;s Sajjid Chinoy says bond index inclusion shouldn#39;t alter RBI#39;s FX strategy
According to JPMorgan#39;s chief India economist, the inclusion of Indian government bonds in the American firm#39;s global indices will see inflows in the range of $20 billion-$25 billion over a 10-month period starting from June 2024
Posted on 22 September 2023 | 3:59 pm
A decade in the making, India#39;s global bond index inclusion journey finally ends
The announcement by JPMorgan in the early hours of September 22, that Indian government bonds will be included in its Government Bond Index-Emerging Markets index suite starting June 2024, has ended one of the great pursuits of the Narendra Modi government
Posted on 22 September 2023 | 3:03 pm
India to achieve 500 GW renewables target before 2030 deadline: R K Singh
Addressing FICCI#39;s India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now.
Posted on 25 September 2023 | 1:35 pm
Chart of the Day: Aluminium output trend shifts up
Global daily average aluminium output in August was highest in 2023, with China’s output driving the increaseÂ
Posted on 25 September 2023 | 1:35 pm
Indian Metals Ferro Alloys zooms 12% as govt vows to pay Rs 417-cr damages
In December 2022, Indian Metals had notified the exchanges that its subsidiary, Utkal Coal Ltd, received Rs 20.69 crore in compensation from the Ministry of Coal for statutory expenses related to the Utkal #39;C#39; coal block, following the issuance of its vesting order to the new allottee.
Posted on 25 September 2023 | 1:23 pm
Mid-day Mood | Caution keeps investors on sidelines, Bajaj Finance shines in lacklustre market
Persisting headwinds like rising crude prices, a spike in bond yields, and subdued global cues kept investors on the sidelines.
Posted on 25 September 2023 | 1:16 pm
Congress list of candidates for Lok Sabha polls in Karnataka likely before January, says Deputy CM Shivakumar
The state Congress President also indicated that the Congress#39; list of candidates for the Lok Sabha polls is likely to be finalised before January.
Posted on 25 September 2023 | 1:14 pm
China#39;s Huawei kicks off product launch event by thanking country for its support
Yu Chengdong, CEO of Huawei#39;s consumer business group, took the stage at the event held at a stadium in Shenzhen, and said the company was working overtime and urgently manufacturing products as many as it could.
Posted on 25 September 2023 | 1:07 pm
LT Foods gains 3% on bullish outlook for convenience wing revenue
The convenience and health segment which is a new addition to its business set-up entails products such as ready-to-eat ‘Daawat Cuppa Rice,’ ‘Daawat Biryani Kits,’ and rice based snacks marketed under the brand name ‘Kari-Kari.’
Posted on 25 September 2023 | 1:02 pm
Ambulance service provider DIAL4242 closes $10 million seed funding round
This round was led by investors G Vamshi Raju, Starfish Ventures, and several Hyderabad-based angel investors, the company said.
Posted on 25 September 2023 | 1:02 pm
Moneycontrol Pro Market Outlook: Markets likely to consolidate in monthly expiry weekÂ
Most global markets closed in the red due to central banks#39; decisions and rising oil prices. The BSE Sensex fell 2.69 percent during the week, but a consolidation is in the works
Posted on 25 September 2023 | 1:02 pm
Mumbai to Marseilles: Why IMEEC is a breakthrough for 21st-century globalisation
It is starkly evident that given the constraints of longer distance and transit time via the southern Suez route and the northern TAR route, the IMEEC, a potential multimodal sea-land-sea corridor will become the preferred corridor. The eastern side of the IMEEC has developed infrastructure networks in the hinterlands and at ports in India, Gulf countries and Saudi Arabia
Posted on 25 September 2023 | 12:59 pm
Monsoon starts withdrawing from India, eight days after normal date
The late retreat of the monsoon this year is the 13th consecutive delayed withdrawal. Withdrawal of the monsoon from northwest India marks the beginning of its retreat from the Indian subcontinent.
Posted on 25 September 2023 | 12:58 pm
Sweet deal! Renuka Sugars soars on board nod to acquire Anamika Sugar Mills
The move is aimed at establishing a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of North and East India.
Posted on 25 September 2023 | 12:58 pm
MFs up their stake holding in mid-sized banks
In the last one year, some mid-size private sector banks have seen a jump in shareholding from mutual funds on the back of good performance by the banking sector, leading to an increase in share prices.
Posted on 25 September 2023 | 12:52 pm
Amazon to invest as much as $4 billion in AI startup anthropic
As part of the deal, Anthropic will move most of its software to Amazon Web Services data centers, and use the cloud computing company’s homegrown chips to train the models it uses to power chatbots and other applications.
Posted on 25 September 2023 | 12:51 pm
Berger Paints sheds 7.5% as it turns ex-bonus, volumes drop 60%
As of September 25 intraday trade, volumes of this paint and coating manufacturer slipped over two-fold to 29 lakh shares as against 75 lakh shares exchanged at both the exchanges September 22
Posted on 25 September 2023 | 12:50 pm
Ambulance service provider DIAL4242 closes $10 million seed funding round
This round was led by investors G Vamshi Raju, Starfish Ventures, and several Hyderabad-based angel investors, the company said.
Posted on 25 September 2023 | 1:02 pm
Nomura retains negative view on Indian rupee despite JPMorgan index inclusion
The rupee had climbed to near 82.80 against the U.S. dollar following JPMorgan#39;s decision to include India in its flagship emerging market index, but it could not sustain the rally and was currently slightly weaker than what it was before the inclusion at 83.1125.
Posted on 25 September 2023 | 11:35 am
Gold loan deep dive: Banks in retreat, but no cakewalk for Manappuram, Muthoot
Gold loan companies may not see the same rate of growth as they have in the past, but are unlikely to be run over by banks as most investors fear, says Digant Haria, founder of Green Edge Wealth
Posted on 25 September 2023 | 7:23 am
Delta Corp: Game over or will the house win as always?
The September 22, claim by the tax department is 3.5x Delta Corp’s last closing market cap and more than double the company’s last decade’s revenue. One saving grace is that the company is debt free.
Posted on 25 September 2023 | 6:52 am
Capcom sees game sales in India passing those in China in decade
Key to the Osaka-based company’s strategy are securing local tie-ups to lift the profile and sales of its PC games in emerging markets and expanding its offerings of console-quality titles to smartphones, the 58-year-old executive said in an interview. India is a focus area, he said.
Posted on 25 September 2023 | 6:36 am
Lupin acquires five brands from Menarini
Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Private Limited.
Posted on 22 September 2023 | 4:02 pm
OYO added 2,800 new corporate clients in January-July
The company in its report titled #39;OYO Business Travel Trends Report 2023#39; revealed that it recorded 20 per cent revenue growth from business travel in January-July 2023 against the year-ago period.
Posted on 22 September 2023 | 2:51 pm
Go First says airline#39;s revival could be derailed by lessors#39; demands
Foreign lessors have been locked in a legal tussle to repossess their aircraft after Go First was granted bankruptcy protection in May, which, as per Indian law, imposed a block on the recovery of 50-plus grounded Airbus planes.
Posted on 22 September 2023 | 1:08 pm
Sunteck Realty, IFC set up joint platform to invest Rs 750 crore for affordable housing projects
IFC, a member of the World Bank, is the largest global development institution focused on the private sector in emerging markets.
Posted on 22 September 2023 | 11:09 am
Sunteck Realty, IFC set up joint platform to invest Rs 750 crore for affordable housing projects
IFC, a member of the World Bank, is the largest global development institution focused on the private sector in emerging markets.
Posted on 22 September 2023 | 11:09 am
Apple#39;s iPhone seen gaining market share in India as Pro model demand rises
The company is projected to account for 7% of all smartphone sales in the country from July to December, up from 5% in the first half of 2023, according to data from market researcher Counterpoint shared exclusively with Reuters.
Posted on 22 September 2023 | 8:37 am
Unbiased Northwest Registered Agent Review
Having evaluated multiple LLC services, it#39;s clear that Northwest Registered Agent stands out as a premier choice. Dive into our review.
Posted on 21 September 2023 | 3:15 pm
Mamata Banerjee to meet Lulu Group officials in Dubai
The Lulu Group headquartered in Abu Dhabi, UAE, which operates a chain of hypermarkets and retail companies, is keen on investing in West Bengal and has requested a meeting with Banerjee during her visit to Dubai, he said.
Posted on 21 September 2023 | 2:42 pm
Tata Power Renewable Energy enters Nepal market, ties up with Dugar Power
This tie-up heralds TPREL#39;s strategic entry into Nepal#39;s rapidly evolving renewable energy sector and sets the stage for a quantum leap in accelerating Nepal#39;s shift toward sustainable energy, according to a statement.
Posted on 21 September 2023 | 2:29 pm
Kia India to hike Seltos, Carens prices by up to 2% from October
Kia India also sells an electric model EV6 in the country.
Posted on 21 September 2023 | 2:22 pm
