The Indian stock market closed in red on Tuesday as heavy selling was seen in all sectors except IT and realty. India's main benchmark indices closed down by more than 1 per cent at the end of trading. Sensex fell 820.97 points, or 1.03 per cent, to 78,675.18 and Nifty settled at 23,883.45, down 257.85 … Read more
India's CESC, a power generation and distribution company, reported an increase in second-quarter profit on Tuesday, due to fewer leaks during distribution and bill collection. The Kolkata-based company said its consolidated net profit rose 1.4% year-on-year to 3.53 billion rupees ($41.8 million) for the quarter ended Sept. 30. Revenue from operations rose 8% to 47 … Read more
India’s IT spending is projected to reach $160 billion in 2025, an increase of 11.2 per cent from 2024, according to a report on Tuesday. Fuelled by expansion in both application and infrastructure software markets, software spending in India is projected to record the highest annual growth rate, increasing 17 per cent in 2025, according … Read more
External Affairs Minister S Jaishankar has called for urgent measures to address the issue of widening trade deficit between India and Russia. He said while India's exports to Russia stood at only $2.24 billion in April-August this fiscal, imports soared to $27.35 billion during the period. The trade deficit is aggregated at $25.11 billion. The … Read more
Indian drugmaker Zydus Lifesciences reported a 14% rise in second-quarter profit on Tuesday, helped by strong demand for generic drugs in its key United States and Indian markets. The company's consolidated net profit rose to 9.11 billion rupees ($107.93 million), in line with analysts' average estimate of 9.13 billion rupees, as per data compiled by … Read more
-DBS's India unit has nominated its head of institutional banking, Rajat Verma, to be the bank's new chief executive officer, two people familiar with the matter said. He is slated to replace Surojit Shome, who plans to retire after leading DBS Bank India since 2015, the sources said, adding that his nomination has been submitted … Read more
India's imports of thermal coal plunged by about a third on an annual basis in October, according to data analytics firms Bigmint and Kpler, due to slowing power generation and higher clean energy output. Shipments into the world's second-largest coal importer plunged 31.8% to 13.56 million metric tons, Bigmint data showed. This was the fastest … Read more
India’s exports of solar photovoltaic (PV) products surged 23 times to $2 billion in the fiscal year (FY) 2024 from FY22, according to a new report. This marks a significant progress in India transitioning from a net importer to a net exporter of solar products, according to a report by the Institute for Energy Economics … Read more
India’s net direct tax collections, comprising corporate tax and personal income tax, shot up by a robust 15.4 per cent to Rs 12.1 lakh crore, from April 1 to November 10 during the current financial year, according to the latest figures released by the Central Board of Direct Taxes (CBDT). On a gross basis, direct … Read more
Rail Vikas Nigam is currently trading at Rs. 444.25, up by 7.70 points or 1.76% from its previous closing of Rs. 436.55 on the BSE. The scrip opened at Rs. 444.95 and has touched a high and low of Rs. 450.40 and Rs. 442.30 respectively. So far 128605 shares were traded on the counter. The … Read more