Indian rupee strengthened against the US dollar on Wednesday, tracking weaker American currency at overseas market after the release of US Conference Board consumer confidence data for September missed expectations. Data showed that the US Conference Board's consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. … Read more
Mazagon Dock Shipbuilders is currently trading at Rs. 4286.60, up by 64.65 points or 1.53% from its previous closing of Rs. 4221.95 on the BSE. The scrip opened at Rs. 4269.70 and has touched a high and low of Rs. 4349.70 and Rs. 4230.00 respectively. So far 54848 shares were traded on the counter. The … Read more
Digital lenders in India disbursed 2.64 crore loans worth Rs 37,676 crore in the first quarter of this fiscal, a volume growth of 15 per cent and a value growth of 27 per cent (year-on-year), a report showed on Wednesday. The average ticket size for loans disbursed in Q1 FY25 was Rs 12,997, a 16 … Read more
The global cellular IoT market is set to maintain its strong expansion, with connections projected to exceed 6.2 billion by 2030, growing at a CAGR of 10 per cent. Counterpoint Research expects global cellular IoT revenues to surpass $26 billion by 2030, as average revenue per user (ARPU) are expected to stabilise in the latter … Read more
Driven by strong GDP growth and robust manufacturing and emphasis on building infrastructure, India is on its way to becoming the third largest economy soon and has the potential to add $1 trillion to its GDP every 1.5 years to reach the $10 trillion economy mark by 2032, a new report showed on Saturday. … Read more
The Indian startup ecosystem saw massive funding flow this week at more than $628.24 million raised by 36 startups — a whopping 174.5 per cent surge from last week. The funding momentum was led by edtech company Physics Wallah (PW) which secured $210 billion in its Series B funding round and took the company’s valuation … Read more
The Employees' Provident Fund Organisation (EPFO) has announced to spend Rs 13.10 crore for welfare of its 15,529 employees across 145 offices in FY25, which includes Rs 74.37 lakh for holiday homes. According to an EPFO circular, Rs 2 crore has been allocated as central pool (death relief fund). The budget includes Rs 94.25 lakh … Read more
Keeping the upward trajectory, the Reserve Bank of India (RBI) saw net foreign direct investment (FDI) growing in the first four months of FY25, owing to an increase in gross FDI flows. The gross inward FDI grew by 23.6 per cent (year-on-year) to $27.7 billion during the April-July period — from $22.4 billion a year … Read more
The foreign institutional investors (FIIs) turned aggressive buyers this week with infusing Rs 14,064 crore in the cash market as Indian markets remained resilient amid robust economy performance, data showed on Saturday. Total FII investment till September 20 stood at Rs 33,699 crore, taking the total FII investment in the country to Rs 76,585 crore … Read more
Boosting its international presence, Indian hospitality major Oyo’s parent company Oravel Stays is acquiring Motel 6 and Studio 6 chain with about 1,500 facilities across the US and Canada from the investment company Blackstone in a $525 million cash deal, the US firm said on Friday. With the acquisition of G6 Hospitality, parent company … Read more