The contracts for the procurement of the platforms and weapons systems were signed in the presence of Defence Minister Rajnath Singh and defence secretary Giridhar Aramane, under whose guidance these deals fructified, an official readout said.
As many as 403 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of over Rs 4.05 lakh crore owing to delays and other reasons, according to a report.
Tata Steel, others sell assets abroad after taking massive impairments.
'In India, managers and the leadership almost glorify overworking.'
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
Public sector behemoth Oil and Natural Gas Corporation Ltd on Monday said it has acquired an offshore oil field in Western Australia.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at $250 billion and it creates over 50 lakh direct jobs.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
The proposals cleared by the DAC include new-generation anti-tank mines, air defence tactical control radar, heavy-weight torpedoes, medium-range maritime reconnaissance and multi-mission maritime aircraft, flight refueller aircraft and software-defined radios.
'With new projects and recently awarded projects kicking in, capital expenditure should only increase going forward.'
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
'It is difficult to write business internationally, without an 'A-' rating. It becomes more expensive.'
Once declared a dud stock, Suzlon has generated stellar returns for investors thus far this calendar year. On a year-to-date (YTD) basis, Suzlon's share price has doubled investor wealth by soaring 109.35 per cent on the bourses. By comparison, the benchmark BSE Sensex has gained just 11.2 per cent.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
The airline is not convinced that it will have a sizeable passenger traffic to make wide body operations profitable
'AI is not a new thing for us. We started our AI journey in 2015.'
'We have focused on it quarter after quarter and started to build the pipeline.'
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
In a post on LinkedIn, co-founders Aprameya Radhakrishna and Mayank Bidawatka announced that the platform will be discontinuing its services to the public, as talks for a partnership with multiple larger internet companies, conglomerates and media houses did not yield the desired outcomes.
'It is not clear how the NDA government -- including Defence Minister Nirmala Sitharaman and Finance Minister Arun Jaitley, backed by senior IAF officials -- claimed that the 36 Rafale contract with Dassault in 2016 cost the IAF 20% less than Dassault's 126 Rafale offer,' notes Ajai Shukla in the first of a three-part series.
Mihir Tanna, Associate Director, S K Patodia & Associates, a chartered accountants firm that offers consultancy, audit and tax services, will answer your queries.
The CPI-M leader was the chief minister of the state from 2000 to 2011.
'With technology advancing, we should go all out and put up solar, wind, pumped storage, and battery, and make India go green.'
'The government has put in a lot of effort to provide infrastructure for the industry.'
'We may see little softness in liquidity position after the stabilisation of the government.'
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
The definition of affected family includes farm labourers, tenants, sharecroppers and workers in the area for three years prior to acquisition.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
'The government has put in a lot of effort to provide infrastructure for the industry.'
A senior government functionary claimed on Thursday that the average estimated cost of MQ-9B long endurance drones for India would be 27 per cent lower than the price incurred by other countries which have bought it from the US, asserting that it will most likely go further down during negotiations unless India seeks additional features.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
The market could not make a clear assessment of Tech Mahindra with the stock swinging wildly in the last two sessions. The results on Thursday were expected to be weak but the stock dropped slightly. However, investors reviewed the three-year turnaround plan and decided the stock had been oversold and the price recovered 7.5 per cent.
Officials said the World Bank, Japan International Cooperation Agency and Asian Development Bank had evinced interest in the project.
