Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
The incident remains a reminder of the inherent fragilities of all geopolitical relationships.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
'Within five years, we should be achieving more on the international front than what it took most airlines 15 to 20 years back.'
'Because it is the only public sector company in this sector, currently.'
Cooperation in key areas of defence, security and counter-terrorism will be an important aspect of Prime Minister Narendra Modi's discussions during his visit to three West Asian countries -- Palestine, the United Arab Emirates and Oman -- starting Friday.
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
Since March 2020, when the Nifty50 plummeted to 7,511 following the announcement of a nationwide lockdown, the stock market has been on an upward trajectory. Over the next four years, the major market index has delivered a remarkable compounded annual growth rate (CAGR) of over 31.5 per cent. In the past year alone, the Nifty50 has gained by 27 per cent, hitting a succession of record highs.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
The worst terror attack in Iran this century occurred when Iranians marked the fourth anniversary of Iranian Revolutionary Guards commander General Qassem Soleimani's death. Soleimani was killed by a US drone on January 3, 2020.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
China Thursday offered to play a 'constructive role' to ease tension between Pakistan and Iran following their missile strikes against each other over the last two days and asked the two countries to 'exercise restraint and calmness and avoid escalation'.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards. Mahindra & Mahindra and Bajaj Finance were the gainers.
This may be in line with Russia's private military company, Wagner Group, which was controlled until 2023 by Yevgeny Prigozhin, a former close ally of Russia's president Vladimir Putin. The group used the infrastructure of the Russian Armed Forces.
As China's Foreign Minister Sun Weidong visited Pakistan on a mediation mission, a statement from Foreign Ministry on Monday said it is maintaining close contacts with Pakistan and Iran to 'bridge their differences'.
Inaugurating the solidarity rally, Venugopal, a Rajya Sabha MP, strongly condemned the war unleashed by Israel in Gaza and their attacks against hospitals and refugee camps there.
Sanjiv Puri, chairman and managing director of ITC, is looking to expand the conglomerate's play outside India by taking "strategic positions" in markets close to home in the non-cigarette fast-moving consumer goods (FMCG) and hospitality businesses. In a recent conversation with Business Standard, Puri revealed that ITC is setting sights beyond India's borders. "We already export to 100-odd countries. We want to scale that up and take some strategic positions in markets close to us," he said.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
Among the Sensex firms, UltraTech Cement, Reliance Industries, ICICI Bank, HDFC Bank, Bharti Airtel, IndusInd Bank, State Bank of India, Tata Consultancy Services, Larsen & Toubro, Kotak Mahindra Bank and State Bank of India were the major gainers. In contrast, Tata Motors, Maruti, Axis Bank, Mahindra & Mahindra, ITC, NTPC, Tata Steel and Bajaj Finserv were the major laggards.
Among the Sensex firms, Infosys, Bharti Airtel, NTPC, Tata Motors, IndusInd Bank, Bajaj Finance, ICICI Bank, Tech Mahindra, Titan and Axis Bank were among the major laggards. Tata Steel, State Bank of India, Mahindra & Mahindra, Maruti and Nestle were the gainers.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
Although India-US relations have strengthened significantly in recent years, partly because of the security situation in the region, the Indian policy establishment would have to be prepared to protect India's interests in a world that could get more unpredictable.
A combination of strong earnings and economic growth, and hopes of the Federal Reserve ending the rate-hike cycle have pushed gross buying of Indian equities by foreign portfolio investors (IPO) to a new high. In 2023, FPIs have been gross buyers of shares worth Rs 25.5 trillion, the highest ever in a calendar year. FPIs also sold shares worth Rs 23.9 trillion. On a net basis, they were net buyers to the tune of Rs 1.6 trillion, the highest since 2020.
US President Joe Biden is set to meet his Chinese counterpart on Wednesday in the San Francisco Bay Area, CNN reported, citing senior US administration officials.
It is only the Indian approach of holding on to multiple realities and contradictory ideas simultaneously that is likely to deliver peace and progress. Binary logic is out of sync with reality, notes R Jagannathan.
In outbound travel, India will be ahead of Italy, South Korea, Australia, Canada and France.
In the wake of the surge in respiratory diseases and new JN.1 sub-variant of COVID-19, the World Health Organisation (WHO) said that the virus is evolving and changing and urged the member states to continue with strong surveillance and sequence sharing.
Benchmark stock indices Sensex and Nifty fell for the third day running on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments amid strengthening US bond yields which are nearing 5 per cent for the first time since 2007. The 30-share BSE Sensex fell 231.62 points or 0.35 per cent to settle at 65,397.62.
India is expected to ramp up its purchase of crude oil from the United Arab Emirates (UAE) in the coming months following discussions between the two countries on the sidelines of the ongoing COP28 summit in Dubai, multiple sources in the know said. The UAE has historically been India's third-largest source of crude. It has suffered the largest drop in shipments since Indian refiners began to binge on Russian crude in 2022.
Qatar returns to the spotlight on Friday little more than a year after the first World Cup held in the Arab world when the relocated and delayed 2023 Asian Cup gets underway amid a seismic shift in football's global order.
The California walnuts shipped from the US to India have seen a sharp uptick with imports more than doubling from September to November against the same period last year. This comes after New Delhi removed its retaliatory customs tariffs on the key dry fruit. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped additional customs duties on about half a dozen US goods that were imposed in 2019 in response to America raising tariffs on certain steel and aluminum products coming from India.
Asian Games Athletes' Committee poll: Saina set to win uncontested
The ongoing Hamas-Israel conflict has disrupted India's efforts to gain from a recent fall in crude oil prices. Since Hamas' invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth. Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India's anticipation of a period of declining oil prices - after the leading global petroleum benchmark declined by around 11 per cent last week.
Indian imports of Russian crude oil may stabilise or even decline in 2024 from record 2023 levels amid shrinking discounts, lower output, and a rebound in West Asian supplies, according to the ship-tracking data and industry executives. This may impact the billions of dollars in annual savings that India made last year. Imports of Russian oil jumped by a record 140 per cent in calendar 2023 to 1.79 million barrels a day (b/d) from 740,400 b/d in 2022, when Russia marched into Ukraine in February, and from just 102,000 b/d in 2021, according to the data from Paris-based market intelligence agency Kpler.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
Global hospitality major IHG Hotels and Resorts saw its business surpass pre-pandemic levels in 2023 on the back of "unprecedented growth" in the tourism industry, a senior company official said. The UK-headquartered company, which operates Holiday Inn, Holiday Inn Express, Crowne Plaza and luxury brands like Intercontinental and Six Senses in India, launched its premium lifestyle brand voco in January this year, with the first property set up at Jim Corbett in North India. The group, in total, signed 15 new deals in 2023.
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