Abu Dhabi's International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate's founder chairman Gautam Adani. "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC, one of Adani group's key foreign investors, said in a statement.
Godrej Consumer Products Ltd (GCPL) reported a 2 per cent year-on-year (Y-o-Y) increase in consolidated revenue to Rs 3,670 crore. Organic revenue growth in constant currency was up 14 per cent Y-o-Y. Consolidated operating profit was up 5 per cent to Rs 760 crore, profit before tax grew 10 per cent Y-o-Y to Rs 710 crore, and adjusted net profit grew 12 per cent Y-o-Y to Rs 490 crore.
Concerns have been raised over Marico's exposure to Bangladesh in the wake of turmoil in that country. However, the management reiterated expectations of growing domestic business at double digits and maintaining international growth. Marico scaled up its food business by 4 times between FY20-24 and aims to double it again in the next three financial years.
GAIL India's second quarter (Q2FY25) performance met expectations.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
The ordinance will be tabled in the next session of the legislature, it said, adding that 27 posts were approved for the commission.
A fresh survey to identify a minimum of eight million new beneficiaries of the flagship rural housing scheme, in addition to the 12 million already identified, will use the latest face-recognition tools to minimise gaps, a senior official said on Tuesday. The survey, which has already started across the country for building the fresh 20 million new rural houses over the next five years, can also be done by the beneficiary himself/herself as well through the Awaassoft mobile application specially created for this purpose.
The Bihar government has moved the Supreme Court challenging a Patna high court verdict that has set aside the amended reservation laws in the state, which enabled the Nitish Kumar government to increase the quotas for Dalits, tribals and backward classes from 50 per cent to 65 per cent.
A group of 101 farmers will march to Delhi on Friday from the Shambhu border protest site, farmer leader Sarwan Singh Pandher has said. The march will begin at 1 p.m. and the group will face heavy police and security presence. The farmers are demanding a legal guarantee for minimum support price of crops, a farm debt waiver, pension for farmers and farm labourers, no hike in electricity tariff, withdrawal of police cases and "justice" for the victims of the 2021 Lakhimpur Kheri violence. The farmers have been camping at the Shambhu and Khanauri border points between Punjab and Haryana since February 13 after their march to Delhi was stopped by security forces.
'I know my worth. Even in my lowest ebb, I didn't compromise with my price.'
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
Punjab farmer leader Sarwan Singh Pandher said no 'jatha' (group) of farmers will resume their foot march to Delhi on Tuesday. The farmers suspended their march after some were injured in teargas shelling by Haryana security personnel. Pandher accused the Centre of being confused on how the protesters should proceed to the national capital, citing contradictory statements from different ministers. He also criticized the government's lack of response to the hunger strike of farmer leader Jagjit Singh Dallewal, which has entered its 14th day.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any "clawback", it said in a post-earnings analyst call on Friday. "It depends on our experience because the new products have been filed from October 1," said Siddhartha Mohanty, managing director and chief executive officer. The insurance regulator has revised the surrender value norms, and the revised ones came into effect on October 1.
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance cover of over Rs 5 lakh.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity. The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
She has been a fashion trendsetter -- remember the sky blue lehenga? -- right from her first song, Yaad Piya Ki Aane Lagi. She continues to notch hits with almost every outfit she wears.
'Spending by the middle class is limited with a focus on savings. However, there is buoyancy at the top-end.'
The stock of Crompton Greaves Consumer Electricals has shed about 12 per cent since the start of the month due to a muted near-term outlook. Demand slowdown across segments and pre-buying in cooling products in the June quarter are expected to weigh on revenues going ahead. In addition to pre-buying in the preceding quarter, demand conditions are soft on account of lower consumer spending due to inflationary conditions, weakness in rural demand and the fact that Q2 remains a soft quarter after a strong summer.
Here's your travel guide to exploring some of India's most beautiful villages.
After a quiet April-June quarter in 2024-25 (FY25), the operational and financial performance of India's largest listed hotel company, Indian Hotels Company, clearly rebounded in the July-September quarter (Q2) of FY25. With double-digit growth in the average room rate (ARR) and higher occupancy, the Taj Hotels chain owner reported a 16 per cent revenue increase and a 30 per cent rise in operating profit.
The Reserve Bank may go for a final 25 basis points increase in the current rate hike cycle next week and a reduction would come in only by the end of third quarter of FY24, economists at Axis Bank said on Wednesday. As per media reports, RBI officials met economists on Tuesday, and the latter have suggested the central bank to go for a 25 basis points hike in key rates. Since May 2022, the RBI has hiked rates by 250 basis points, hurting borrowers and some are already concerned about loan tenors extending beyond their working lives as a result of the hikes.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
At the start of the auction on Sunday, Punjab Kings had the highest funds at Rs 110.5 crore, which decreased to Rs 10.9 crore before Day 2 on Monday.
The opposition Bharatiya Janata Party and the Communist Party of India-Marxist dubbed it a "cheap poll gimmick" to woo minority votes.
With crude palm oil prices on the rise, companies have started to jack up rates of soaps and edible oils in order to pass on the hike to consumers. Crude palm oil, one of the main ingredients in the manufacture of some consumer goods, saw a price rise of 45.2 per cent in the last three months. One of the country's largest consumer companies, Hindustan Unilever, said it has already started to take price increases in the skin cleansing category.
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The RBI had surprised all with a 0.40 per cent hike in key interest rates on May 4 to tame the inflation situation and is widely expected to follow up with further tightening of the policy on Wednesday.
A group of 101 farmers resumed their foot march to Delhi on Sunday to press the Centre for various demands, including a legal guarantee for Minimum Support Price (MSP). However, they were stopped at the barricading by Haryana Police who cited a prohibitory order clamped by the Ambala administration. The farmers have been pressing for various demands, including a legal guarantee for MSP, a farm debt waiver, pension for farmers and farm labourers, no hike in electricity tariff, withdrawal of police cases (against farmers), and "justice" for the victims of the 2021 Lakhimpur Kheri violence. Reinstatement of the Land Acquisition Act, 2013 and compensation to the families of farmers who died during the previous agitation in 2020-21 are also part of their demands.
Air passengers might have a reason to smile this Diwali season as average airfares on many domestic routes have dropped 20-25 per cent compared to the year-ago period, according to an analysis. Increased capacity and the recent fall in oil prices are considered to be among the factors for the fall in air ticket prices. The analysis by travel portal ixigo showed that average airfare on the domestic routes have declined in the range of 20-25 per cent.
Dabur's performance in the July-September quarter of the current financial year (Q2FY25) was weak but in line with consensus. Consolidated revenue declined 5 per cent year-on-year (Y-o-Y) due to a temporary adjustment in General Trade (GT) inventory. Indian revenue declined 7.6 per cent, while international business grew 13 per cent Y-o-Y in constant currency (CC) terms.
The Employees' Provident Fund Organisation (EPFO) is considering raising the monthly minimum wage ceiling from Rs 15,000 now to improve the coverage and bring millions of informal workers under its purview. The last increase in the minimum wage ceiling was in 2014 to Rs 15,000 from Rs 6,500.
Going by this Budget's estimate of government spending of Rs 48.2 trillion, the government has allocated a significantly lower percentage to defence -- 12.9 per cent.
Double-digits salary hikes are making a post-pandemic comeback on the back of a buoyant business outlook in 2023, according to global professional services firm Aon. Aon's latest "Salary Increase Survey in India" has not only projected a 10.4 per cent average hike across sectors for 2023, but also identified actual hikes in 2022 at 10.6 per cent as against its previous projection of 9.9 per cent in February. The figure of 10.6 per cent is the highest since 2012, whereas the 10.4 per cent levels projected for 2023 were last seen in 2015.
The Reserve Bank of India on Thursday decided to keep the policy rate unchanged for the ninth time in a row, saying food inflation remains stubborn. The rate increase cycle was paused in April last year after six consecutive rate hikes, aggregating to 250 basis points since May 2022.
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
However, in 950 booths, voting will end at 4 pm, though people standing in the queue at that time will be able to exercise their franchise.
'A dynamic bond fund acts like a gilt fund in a rate cut scenario and like a conservative short-term bond fund when rates rise.'
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