Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
India's services sector growth quickened in June from May's five-month low, amid a stronger rise in new orders and an unprecedented expansion in international sales, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.2 in May to 60.5 in June, pointing to a sharp expansion in output. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India. The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
A strategist and a quintessential political leader with grassroots connect, Rajnath Singh is credited with expanding the Bharatiya Janata Party's organisational network in the Hindi heartland state of Uttar Pradesh in the 1990s and the subsequent decades.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
From Mumbai to Silvassa in Daman, and back.
The services sector growth in India rose to a three-month high in December supported by favourable economic conditions and positive demand trends, a monthly survey said on Friday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 56.9 in November to 59 in December, highlighting a sharp increase in output that was the most pronounced since September. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Gehlot was accompanied by party's state chief Govind Singh Dotasra, Revenue minister Ramlal Jat, Director General of Police M L Lather and other leaders and officials during his visit to Lal's house at sector 14 here, officials said.
Medal layenge, medal layenge yeh baat tum dimaag se nikal do (a medal will never come if you chase after a medal, just focus on the processes)
A customer can also appoint a surveyor on his own expense
CURVV, currently in its production-ready avatar, will first be made available as an electric vehicle, to be followed by its internal combustion engine counterpart.
Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs. The big driver is optimism about a pickup in the jobs market, which benefits Naukri.com and could mean upgrades in Q4FY24 expectations. The JobSpeak Index, which Naukri.com releases on a monthly basis, is showing a "transformative shift".
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
'With NPA under control, we should be able to post better profits.'
Arsenal took the race to the final day last season and are strongly tipped to end Manchester City's dominance this time.
Prime Minister Narendra Modi on Saturday vowed to thwart alleged attempts to rob Dalits and backward classes of reservations by the Indian National Developmental Inclusive Alliance (INDIA) which he accused of 'enslavement' and performing 'mujra' for Muslim vote bank.
If you are planning to buy an electric car in the near future, it would be highly advisable to wait for these upcoming electric SUVs.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
BMW Group India recorded its highest annual sales on the back of strong demand for its top-end ICE (internal combustion engine) and electric vehicles (EVs). The German luxury automaker on Thursday announced that its domestic car sales jumped 18 per cent year-on-year (Y-o-Y) to 14,172 units in calendar year 2023 (CY23). This mirrored a trend in the luxury space, with its peers also reporting record numbers.
Railway Minister Ashwini Vaishnaw, Madhya Pradesh Governor Mangubhai Patel, Chief Minister Shivraj Singh Chouhan, Union ministers Narendra Singh Tomar and Jyotiraditya Scindia, among others, were present on the occasion.
Researchers have developed a new architecture for lithium-ion battery anodes that could enable charging of portable electronics in 10 minutes, instead of hours.
Believe it or not, our desi Greek God is all of 50 today. Celebrating Bollywood's golden star with 10 of his coolest introduction scenes.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
The broking industry's pecking order is set to change with Groww, a fin-tech startup from Bengaluru, poised to topple the industry's poster boy, Zerodha, as the leading brokerage in the number of active investors. According to data provided by the portal Topsharebrokers.com, Zerodha has 6.32 million active investors, while Groww is at 5.99 million. It is projected that Groww, which has grown at a much faster clip over the past two years, will surpass Zerodha this month, or next month.
Bharti Airtel has quietly narrowed its adjusted gross revenue (AGR) market share gap with Reliance Jio, the country's largest player in the game, in the last three years. Despite Jio's aggressive entry into 4G and now into 5G, Airtel's gap with Jio, which was 6.4 percentage points in Q1 of FY21 and went up to 7.2 percentage points in Q1 of FY22, has fallen to only 4.4 percentage points in Q1 of FY24. Currently, Reliance Jio's AGR market share is 41.6 per cent while Airtel's is at 37.2 per cent.
If India grows at 8 per cent, the Indian banks will grow much faster.
'It will dictate the flow of funds into the index. We will maintain caution on mid/smallcaps.'
In Dubai, A Ganesh Nadar encountered high speeds on smooth-as-silk-roads, no bureaucracy, gold, Mr Toad's. And snow!
Educational technology company Byju's chief financial officer Ajay Goel has quit after completing the audit process for the financial year 2022 and will return to Vedanta, the company said in a statement. The edtech major has roped in industry veteran Pradip Kanakia as senior advisor, and president (finance) Nitin Golani has been given additional responsibility as India chief finance officer (CFO) to handle the finance function of the company.
The banking sector emerged as an outlier when the rest of India Inc witnessed a slowdown in earnings in FY23. The combined net profit of listed public and private sector banks was up 39.4 per cent year-on-year (YoY) last financial year and their share in India's gross value added (GVA) or gross domestic product (GDP) at factor cost rose to a record high of nearly 1 per cent up, from 0.8 per cent a year ago. Listed banks' combined net profit grew to Rs 2.36 trillion in FY23, from Rs 1.69 trillion a year ago. In comparison, India GVA at current prices was up 15.2 per cent YoY at Rs 247 trillion in FY23; it was around Rs 214 trillion a year ago.
The new orders sub-index, which includes domestic demand as well as orders from abroad, rose to 53.2 in May
'We are committed to achieving the targets we had outlined.'
Both versions come up with the dynamic island feature that first debuted on the iPhone 14 Pro and Pro Max and the USB-C type charging. As per The Verge, an American technology-based website, the iPhone 15 also has an OLED Super Retina display, which supports Dolby Vision content with 1,600 nits of brightness. The peak brightness of this display is 2,000 nits in sunlight, double that of the iPhone 14. Apart from this, the iPhone 15 and iPhone 15 Plus also has an improved camera system.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
