Anil Ambani led Reliance Infrastructure to raise Rs 6,000 cr via share sale
Mumbai: Reliance Infrastructure Ltd, led by Anil Ambani, announced plans to raise up to Rs 6,014 crore through the sale of shares and convertible warrants on Thursday.
Finance
Indian economy to be 3rd largest by 2030-31, growing 6.7% annually: S&P Global's forecast
New Delhi: The Indian economy is projected to grow at an annual rate of 6.7% between now and 2030-31, becoming the third-largest economy in the world, according to S&P Global's forecast on Thursday, media reports.
US Fed rate cut to have little impact on India: CEA Nageswaran
New Delhi: The recent rate cut by the US Federal Reserve is unlikely to have a major impact on India, as much of the move was already factored into the market, said Chief Economic Advisor (CEA) V. Anantha Nageswaran on Thursday, media reports said.
RBI revokes restrictions on IIFL Finance gold loan business
Mumbai: Non-bank lender IIFL Finance said on Thursday that the Reserve Bank of India (RBI) lifted the earlier restrictions imposed on its gold loan operations.
Ex-AWS engineer claims Amazon is 'silent sacking' employees in 5 phases
Hyderabad/IBNS: A former software engineer at Amazon Web Services (AWS) has claimed that the company’s recent mandate requiring employees to return to the office by January 2 is less about "inventing and collaborating," as stated by CEO Andy Jassy, and more about reducing headcount while avoiding significant tax liabilities.
GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category
New Delhi/IBNS: The government on Wednesday (Sept. 18) upgraded shipbuilding and defence Public Sector Undertaking (PSU) Garden Reach Shipbuilders and Engineers Ltd. (GRSE) from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE), reports said.
India surpasses China in world's largest investable stock index
New Delhi/IBNS: India has surpassed China in its weighting within one of the world’s largest stock market benchmarks, as increased share sales and liquidity make Indian companies more accessible to global investors, reports Financial Times.
US Fed cuts interest rates by 50 bps, first reduction since 2020
Washington/IBNS: The US Federal Reserve, popularly known as the Fed, has reduced its key lending rate by half a percentage point, marking the first cut since the Covid-19 pandemic in 2020, just weeks ahead of November’s presidential election.
Ernst & Young responds after mother of 26-year-old Indian employee claims she died due to work stress
Pune/IBNS: The Ernst & Young India has responded after a 26-year-old employee in Pune died due to "work stress" as claimed by her family, media reports said.
Arya.ai founder to create global open source community to boost Safe Super Intelligence ecosystem
A groundbreaking initiative is set to expedite the Artificial General Intelligence (AGI) landscape with the launch of a new collaborative group aimed at building a Safe Super Intelligence (SSI)
Arunangshu Sarkar joins the ONGC Board as first-ever Director of Strategy & Corporate Affairs
New Delhi: Arunangshu Sarkar has joined the ONGC Board as the company’s first-ever Director (Strategy & Corporate Affairs), effective September 17, 2024.
Amazon India veteran Samir Kumar to take over as its head of India consumer business
Mumbai: Samir Kumar, who has been with Amazon for 25 years, will take over as head of its India consumer business following the resignation of Manish Tiwary, the company announced on Wednesday.
Amazon India veteran Samir Kumar to take over as its India consumer business
Mumbai: Samir Kumar, who has been with Amazon for 25 years, will take over as head of its India consumer business following the resignation of Manish Tiwary, the company announced on Wednesday.
NTPC Green Energy submits draft papers for $1.2 billion IPO: Report
New Delhi: NTPC Green Energy, a subsidiary of state-owned power producer NTPC, filed draft papers on Wednesday for an initial public offering (IPO) worth Rs100 billion ($1.19 billion) as it seeks to capitalize on India's renewable energy expansion and a booming stock market, Reuters reported.
Govt raises MSME lending target to Rs 27.5 lakh cr for FY25
New Delhi: The Union government has raised its lending target for Micro, Small, and Medium Enterprises (MSMEs) to Rs 27.5 lakh crore for FY25, marking an increase of over 10% compared to the previous year, media report said.
IREDA gets nod for Rs 4,500 cr fundraise via QIP route; govt to offload 7% stake
New Delhi: The Indian Renewable Energy Development Agency (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise up to Rs 4,500 crore through a fresh equity share issue via a Qualified Institutional Placement (QIP).
Tata Power to invest up to $9 billion in expanding renewable energy capacity
Mumbai/IBNS: Tata Power plans to invest up to $9 billion to more than quadruple its renewable energy capacity to over 20 gigawatts (GW) within the next five to six years, Reuters reported on Tuesday, citing the company's CEO Praveer Sinha.
Reliance Power settles Rs 3,872 crore in obligations, achieves debt-free tag
Mumbai/IBNS: Shares of Reliance Power Ltd surged by 5 percent on Wednesday (Sept. 18) after the company announced that it had fully settled its Rs 3,872 crore obligation as a guarantor for Vidarbha Industries Power (VIPL), reports Moneycontrol.
India's wholesale inflation drops for second consecutive month to 1.31% in August
New Delhi/IBNS: Wholesale inflation in India declined for the second consecutive month, reaching 1.31 percent in August, driven by lower prices for vegetables, food, and fuel, according to government data released on Tuesday.
Sovereign Gold Bonds available for early redemption on September 17
New Delhi: Investors holding an early series of Sovereign Gold Bonds (SGBs) have reason to celebrate, as the returns on these bonds, issued five years ago, have more than doubled, offering substantial rewards, media reports said.
Raymond Lifestyle plans 40-50 new stores in Kolkata and West Bengal over 3 years
Kolkata: Raymond Lifestyle Ltd. (RLL) is looking to expand its footprint beyond the 85-strong ‘The Raymond Shop’ network across West Bengal by adding 40-50 more shops in the next three years.
SpiceJet hasn't paid Rs 427 cr in GST, TDS, and PF dues since 2020: Report
Mumbai: Budget airline SpiceJet announced on Tuesday that it failed to pay statutory dues amounting to Rs 427 crore between March 2020 and August 2024, citing its "constrained financial position", media reports said.
UK-based fintech Revolut set to enter India by 2025: Report
Mumbai: UK-based Revolut, one of Europe's leading fintech companies, is preparing to launch its services in India by 2025, targeting tens of millions of affluent consumers, according to a report by The Financial Times.
Tata Motors and JLR to manufacture EVs in India for the world market: N Chandrasekaran
Mumbai: Tata Motors and Jaguar Land Rover (JLR) are set to produce electric vehicles (EVs) in India for global markets, according to Tata Sons chairman N Chandrasekaran.
Video showing luxury cars parked at Blinkit and Zomato's Gurugram offices goes viral
Gurugram/IBNS: A video showing a fleet of luxury cars parked outside the Zomato and Blinkit headquarters in Gurugram has gone viral on social media.
Oil rises nearly 2% amid hurricane disruptions and US Fed rate cut hopes; brent crude Hits $73.01/barrel
New York/IBNS: Oil prices surged by nearly 2 percent on Monday (Sept. 16), buoyed by continued disruptions to U.S. Gulf Coast oil production, despite ongoing concerns about demand stemming from weak economic data from China.
Old lending practices a constraint in catering to agriculture sector: RBI deputy governor
New Delhi/IBNS: Traditional lending methods fall short in meeting the unique demands of the agricultural sector, necessitating innovative, flexible financial solutions tailored to farmers' needs, Reserve Bank of India's (RBI) deputy governor Swaminathan Janakiraman said on Monday (Sept. 16).
LIC appoints Infosys to build its NextGen Digital Platform
Life Insurance Corporation of India (LIC) has undertaken a digital transformation programme named DIVE (Digital Innovation and Value Enhancement). Under DIVE, LIC aims to significantly boost its digital platform with an aim to provide superior experience to its customers, field force, partners and employees.
Adani Group clarifies it did not release any press release on 'Kenya projects'
India's Adani Group on Monday clarified it has not issued any press statement on its ongoing projects and presence in Kenya.
Flipkart gears up for 11th edition of ‘The Big Billion Days’ with new tech launches
E-commerce major Flipkart has announced the dates for its highly-anticipated annual flagship event, The Big Billion Days (TBBD) 2024.