Business news

RIL mcap decreases by Rs 74,000 crore; SBI, TCS, Infosys biggest gainers

The Indian stock market witnessed a weak trend in the last week due to heavy selling in the largecaps.

Nov 10, 2024

India's steel exports clock double digit growth in October

India's steel exports recorded a double-digit growth of 11 per cent in October compared to the previous month, indicating an improved outlook for the sector, according to data compiled by the Ministry of Steel.

Nov 10, 2024

India's smartphone market estimated to grow 7-8 pc this year

Estimates show India's smartphone market to grow by 7 to 8% this year

India's smartphone market is estimated to grow 7-8 per cent this year, driven by strong demand for premium, 5G and AI smartphones, according to a new report.

Nov 9, 2024

India's power sector set for robust growth amid renewable energy push

As India is poised to see a surge in energy demand than any other country over the next decade owing to its sheer size and scale of rising demand from all sectors, the country's power transmission sector is set for significant growth due to ambitious renewable energy targets.

Nov 9, 2024

5G data consumption 4 times faster than 4G in India: Report

Seamless Connectivity: Centre to develop tech for highspeed, ultra-low latency 5G services

To further ensure high-speed and ultra-low latency services required in 5G, the Department of Telecommunications (DoT) on Saturday said it has signed an agreement with Linearized Amplifier Technology Services and Vedang Radio Tech.

Nov 9, 2024

Sensex snaps five-day losing streak, Nifty closes above 24,300

Indian stock market remains on consolidation path, DIIs absorb heavy selling

The week saw Donald Trump returning to power in the US election amid a second consecutive rate cut by Fed this year, as the Indian stock market continued to experience consolidation due to heightened selling pressure from foreign institutional investors (FIIs).

Nov 9, 2024

Sensex sheds over 900 points, all eyes on US election and Fed data

As FIIs on selling spree, DIIs step in to absorb; Indian stock market remains on consolidation path

Despite the massive FII selling, the stock market is resilient since the valuations are fair and every selling is being absorbed by domestic institutional investors (DIIs) and individual investors, particularly high-net-worth individuals (HNIs)

Nov 9, 2024

Indian stock market ends flat, Nifty below 24,150

The Indian stock market closed flat on Friday as selling was seen in the auto, PSU bank, financial service, metal, and realty sectors at the end of trading.

Nov 8, 2024

78 lakh EPS pensioners to benefit as new payment system clears pilot run

Union Minister of Labour and Employment, Dr Mansukh Mandaviya, on Friday announced the successful completion of pilot run of the new Centralised Pension Payments System (CPPS) under the Employees' Pension Scheme 1995 aimed at enhancing pension services.

Nov 8, 2024

200 Indian women entrepreneurs set to raise Rs 850 cr from investors: Goldman Sachs

At least 200 women entrepreneurs in India are poised to raise an estimated Rs 850 crore ($100 million) from investors, helping to expand businesses and create new jobs, Goldman Sachs announced on Friday.

Nov 8, 2024

Rural markets stay ahead of urban centres in growth for FMCG goods: NielsenIQ

Rural markets outpace urban centres in growth for FMCG goods: NielsenIQ

India's fast-moving consumer goods (FMCG) sector grew 5.7 per cent by value and 4.1 per cent by volume in the July-September quarter driven by rural demand which grew faster than urban markets for the third consecutive quarter, according to the latest report by consumer intelligence firm NielsenIQ.

Nov 8, 2024

US Fed cuts interest rate second time consecutively, to boost emerging markets

The US Fed cut interest rates by 25 basis points (bps) to 4.75 per cent and given the US macro indicators, the rate cuts now are rather pre-emptive.

Nov 8, 2024

Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2

Swiggy IPO continued to see a tepid response from investors on the second day of bidding on Thursday. The Rs 11,327 crore IPO was subscribed 0.35 times or 35 per cent on the second day.

Nov 7, 2024

Freshworks to cut its workforce by 13 pc to streamline operations

Artificial intelligence (AI) service software provider Freshworks has announced a workforce reduction of 13 per cent to streamline its operations, affecting at least 660 employees worldwide.

Nov 7, 2024

Gold prices rise to 3-month high on back of safe-haven demand

Gold prices set to fall further after Donald Trump's win

Gold prices continue to fall after the US presidential election and on Thursday, the December future contracts of gold on MCX opened with a decline of 0.37 per cent at Rs 76,369 per 10 grams, while silver December future contracts were trading 0.24 per cent low at Rs 90,601 per kg.

Nov 7, 2024