IPO-bound hospitality major OYO has written to the Ministry of Tourism (MoT) requesting it to intervene and investigate the running of the Federation of Hotel and Restaurant Associations of India (FHRAI) and order eviction of erring executive committee members. The hotel aggregator urged the MoT to take necessary action against FHRAI's "illegally run" Executive Committee and its members who are working for self-interest instead of that of small hotel owners. The representation by OYO alleged that FHRAI's actions are detrimental to small hotel owners.
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
Aided by robust festive season offtake, automobile retail sales in India witnessed a 48 per cent annual jump in October, automotive dealers' body Federation of Automobile Dealers Associations said on Monday. The total retail sales last month stood at 20,94,378 units, up 48 per cent from 14,18,726 registrations in October 2021. The registrations last month were even better by 8 per cent as against October 2019, a pre-COVID month. The festive season this year turned out to be the best for the industry in the last four years.
Noel Rodriguez-Alvarez, who has special needs, was last seen in November shortly after his twin sisters were born in October last year.
Indian equity markets registered their highest single-day percentage gains since early October.
George Soros, who is in the eye of the storm over his remarks against Prime Minister Narendra Modi on the Adani issue, is an Hungarian-born American financier, philanthropist, and activist whose success as an investor made him one of the wealthiest men in the world. He is also known as a powerful and influential supporter of liberal social causes. In a speech at the Munich Security Conference on Thursday, the billionaire philanthropist said he believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government, a statement which was strongly contested by the BJP as an attack on Indian democracy.
Former United States president Donald Trump has announced that he will run for the president in 2024 to make America 'great and glorious' again, vowing to fight like no one to defeat the 'radical left Democrats' that are trying to destroy the country from within.
Billionaire philanthropist George Soros believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government -- a statement which was strongly countered by BJP as an attack on Indian democracy.
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
Electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment, according to data compiled by automobile dealers' body FADA. Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said. Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted.
Advisory in this regard was issued by the Gujarat government three days before Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 notes.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
Thousands of people joined a public rally organised by Nagaland People's Action Committee (NPAC) on Friday to demand an early solution to the Naga political issue.
Indian football being hit with a FIFA ban looked a real possibility on Tuesday after the commercial partners of the sport's governing body in the country approached the Supreme Court over contentious clauses in the draft constitution.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
Tata Steel was the top loser in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ICICI Bank, SBI, Kotak Bank and Dr Reddy's. NSE Nifty dropped 151.75 points to 15,727.90.
The new price will come into effect on all six brands being sold in major markets of Delhi-NCR, Gujarat, West Bengal, Kolkata, Uttaranchal, Maharasthra and few other states.
As markets enter the new financial year and the long-term capital gains tax on the sale of stock investments kicks in, Abhinav Khanna, head of equities, Citi India, tells Puneet Wadhwa that he remains optimistic on the medium-to-long term growth of India, led by consumption recovery and the green shoots visible in the capex cycle.
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Markets ended flat on Tuesday, amid a volatile trading session, as investors exercised caution ahead of the two-day FOMC meet starting today and Reserve Bank of India's monetary policy later this week.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
Although the markets could see a knee-jerk reaction, they rule out a sharp fall.
Rebuffing petroleum ministry, Siddaramaiah launches Pradhan Mantri Ujjwala Yojana-like scheme months before state polls
Communications Minister Arun Shourie on Thursday asked state-owned Mahanagar Telephone Nigam Ltd to make the optimum use of its huge cash reserves and aggressively explore foreign markets.
The latest macro-data from India is disquieting
Reacting sharply to the proposal by some US states to ban outsourcing of state data processing contracts to developing nations, Union Law and Commerce Minister Arun Jaitley said the move was against the principle of market access.\n\n\n\n
India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market.
Demonetisation impact, earnings growth, central bank policies will get attention.
The broader markets ended negatively with mid-caps and small-caps shedding 0.5 per cent on the BSE.
Benchmark indices finished higher on hopes of economic reforms
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
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