BUSINESS
India’s growth momentum to continue in April-March quarter of 2024-25: Finance Ministry Report
Highlighting the encouraging trends across pivotal high-frequency growth indicators such as GST collections, e-way bills, electronic toll collections, vehicle sales, purchasing managers’ indices, and digital transactions, the Finance Ministry emphasized the burgeoning vitality of the economy. The industrial as well as service sectors continue to perform well, supported by strong domestic demand and a cautiously optimistic external demand scenario. This uptick may augur well for Indian manufacturing units, considering the strategic "China Plus One" approach.
Google plans to Invest $350 Million for minority stake in Flipkart's Latest Funding Round
Flipkart is currently in the process of raising USD 1 billion in this funding round, with a significant USD 600 million commitment already secured from its parent company, Walmart, according to sources.
India clocks record rise in exports, employment at 18-year high in May: Insights from PMI Data
The PMI figures indicated the third-highest upswing in private sector output since July 2010. While the manufacturing segment remained a positive factor for the growth of sales and production, it was the service sector which fuelled the latest acceleration in the overall economic activity.
Major Boost to Economy: India clocks record rise in exports, employment at 18-year high in May, reveals PMI Data
India stands out as the sole nation among the leading steel producers globally to witness a surge in steel production in April this year, as per data gathered by the World Steel Association. Ranking second only to China, India accomplished a remarkable production of 12.1 million tonnes of steel, marking a notable 3.6 percent increase compared to the corresponding period of the preceding year. This increase in steel production by India is attributed by analysts to the increased economic momentum reigning in the country.
BHEL Records 25% Drop in Q4 Net Profit, Stands at Rs 484 Crore
Even as challenges faced the company, the revenue from operations of BHEL inched up in the fourth quarter to Rs 8,260 crore from Rs 8,227 crore in the same period the previous year. Responding to this news, BHEL's share price increased by 2.7 percent on Tuesday to close at Rs 318.8 per share.
Nikesh Arora, of Indian Heritage, Ranks Second as Highest-Paid CEO in the US: Report
He is also the second highest-paid CEO of Indian origin, standing at 11th in the overall list. Surprisingly, Arora and Narayen performed better than some big names including Tesla's Elon Musk who had nothing in his compensation kitty.
World sees India on cusp of economic take-off, Says RBI Report
The bulletin indicates that recent trends suggest a surge in overall demand, with a noticeable increase in non-food spending driven by a recovery in rural expenditure.
Prime Minister Modi Commends Remarkable Growth in India's Banking Sector with Record-breaking Rs 3 Lakh Crore Profit in 2023-24
Modi was to say that it was due to the policies of the previous government that, with continuous losses and huge NPAs, the banks were virtually in a mess when his government took over.
EPFO Welcomes 14.41 Lakh New Enrollees, 57 pc are youths
Of these, a large number of 7.47 lakh are first-time entrants to the organized workforce. Of these, as many as 56.83 percent belong to the 18-25 age bracket. Obviously, the youth are the main job seekers in the organized sector, according to official statements.
Byju's Advisory Panel to See Departure of Rajnish Kumar and Mohandas Pai
Their exit from the advisory panel comes into effect on June 30, which will also bring an end to their one-year tenure with the company. A BYJU'S spokesperson informed that the decision not to extend the contractual agreement between the edtech company and Kumar and Pai was through mutual consent.
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