At least 31 homegrown startups raised more than $466 million in 22 deals this week, a significant 75 per cent rise from last week. Quick e-commerce platform Zepto raised $340 million in a follow-on financing round, taking the company’s valuation to $5 billion. General Catalyst led the round, with Dragon Fund, and Epiq Capital joining … Read more
Foreign portfolio investors (FPIs) have increased buying in the Indian debt market because the rupee has been stable this year and the stability is expected to continue, market watchers said on Saturday. Bulk of the buying that FPIs are doing now are through the ‘primary market and others’ category. In the cash market, they have … Read more
Indian equity indices witnessed a stellar rally this week. Due to strong domestic and global cues, Nifty and Sensex posted around 1.6 per cent gains between August 26 and August 30. In the last trading session, Nifty closed at 25,235.90 with a rise of 83.95 points or 0.33 per cent and Sensex closed at 82,365.77 … Read more
The Indian economy clocked a GDP growth of 6.7 per cent in the first quarter (April-June) of the financial year 2024-25 over the growth rate of 8.2 per cent in Q1 of FY 2023-24, figures released by the Ministry of Statistics on Saturday showed. The crucial manufacturing sector that provides quality jobs to the … Read more
The Central government's fiscal deficit in the first four months (April-July) of the current financial year stands at Rs 2.77 lakh crore which works out to 17.2 per cent of the full-year target and is lower than the corresponding figure of 33.9 per cent in the same period last year, according to official data released … Read more
India’s core sector, comprising industries such as coal, electricity, steel, and cement, posted a 6.1 per cent growth in July after having slowed to 4 per cent in June, according to data released by the Commerce Ministry on Friday. The growth rate of the 8 core sector industries, for the first four months of … Read more
The government on Friday said it has signed a pact with global digital payments leader Visa for a three-year partnership, valued at up to $1 million, to skill 20,000 youth for the booming tourism industry. The Tourism and Hospitality Skill Council (THSC), under the aegis of Ministry of Skill Development and Entrepreneurship, signed a memorandum … Read more
India's infrastructure output in July rose 6.1% year-on-year, government data showed on Friday, helped by steel and electricity output. Infrastructure output, which accounts for 40% of India's industrial production, measures activity in eight sectors, including refinery products and electricity. Infrastructure output growth in June was revised to 5.1% from 4%. Coal production grew 6.8% in … Read more
India's fiscal deficit for April-July was 2.77 trillion rupees ($33.05 billion), or 17.2% of the estimate for the financial year, government data showed on Friday. Net tax receipts for the period were 7.15 trillion rupees, or 27.7% of the annual target, compared with 5.83 trillion rupees for the same period last year, according to the … Read more
India's economy grew by 6.7% in the April-June quarter from a year earlier, compared with 7.8% growth in the previous quarter, government data showed on Friday. A Reuters poll had predicted a 6.9% expansion in India's gross domestic product for the quarter ending June 30. COMMENTARY GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI "The … Read more