With nearly four million electric vehicles (EVs) sold in India cumulatively by March this year, the market is in the midst of an explosive growth phase and will become a major power consumer, a report said on Thursday. From merely 1.3 lakh EVs sold in 2020, an estimated 1.6 million EVs were sold in the … Read more
India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7 per cent, a report by S&P Global projected on Thursday. The country has emerged as the fastest-growing large economy at an 8.2 per cent growth rate in FY24, significantly exceeding the government’s … Read more
Indian frontline equity indices closed in green on Thursday, buoyed by the US Federal Reserve's decision to cut interest rates by 50 basis points, exceeding market expectations. At closing, Sensex was up 236 points, or 0.29 per cent, at 83,184 and Nifty was up 38 points, or 0.15 per cent, at 24,415. Selling was seen … Read more
Singapore-based data centre operator Princeton Digital Group (PDG) on Thursday announced to invest $1 billion in India and expand capacity to a total of 230 MW in the country. This move is part of PDG’s new $5 billion investment programme for AI-ready data centres in Asia, the company said in a statement. “India is well … Read more
As the adoption of artificial intelligence (AI) and generative AI (GenAI) surges worldwide, India is set to play a pivotal role in its use to accelerate social and economic progress, the government said on Thursday. Dr Neeraj Mittal, Secretary, Department of Telecommunications (DoT), said that globally, AI and GenAI are evolving rapidly and the world … Read more
UNO Minda is currently trading at Rs. 1042.90, up by 12.45 points or 1.21% from its previous closing of Rs. 1030.45 on the BSE. The scrip opened at Rs. 1030.75 and has touched a high and low of Rs. 1053.55 and Rs. 1030.75 respectively. So far 13271 shares were traded on the counter. The BSE … Read more
India’s basmati industry is projected to see revenue growth at 4 per cent (year-on-year) on a high base this fiscal to reach an all-time high of nearly Rs 70,000 crore, a report showed on Thursday. The industry will see revenue growth moderate to this fiscal from a phenomenal 20 per cent seen last fiscal. Despite … Read more
CRISIL Ratings in its latest report has said that the Indian pharmaceuticals sector is likely to log a revenue growth of 8-10% this fiscal (FY25), after around 10% growth last year, supported by healthy exports to regulated markets, recovery in exports to semi-regulated markets and steady domestic demand. The resultant improvement in operating leverage along … Read more
Net direct tax collection grew 16.12 per cent to over Rs 9.95 lakh crore so far this fiscal on higher advance tax mop up. Refunds worth over Rs 2.05 lakh crore were issued, a 56.49 per cent jump over the same period last fiscal. The net personal income tax (PIT) collection grew 19 per cent … Read more
Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities after the US Federal Reserve decided to cut interest rate by 0.5% after more than four years in line with market expectations. US Fed Chair Jerome Powell also indicated that the United States is on track to achieve the targeted level of … Read more
