Category archives for: Business

India’s GDP to grow by 7.1% in FY19: Ind-Ra

New Delhi,  India Ratings and Research (Ind-Ra) on Thursday predicted that India’s gross domestic product (GDP) will grow at 7.1 per cent in FY19. “Robust consumption demand and tailwinds from low commodity prices have been the key growth drivers over the past few years,” said Sunil Kumar Sinha, Principal Economist and Director Public Finance, Ind-Ra. […]

87% firms believe IoT key to future of their business: Survey

Bengaluru,  While 70 per cent of companies in the Asia-Pacific region believe Internet of Things (IoT) is very important to their current operations, 87 per cent believe IoT will be key to the future of their business, a new survey said on Thursday. Nearly 72 per cent of the respondents said their company has significant […]

Banks stocks shoot up on 100% FDI in private banks reports

Mumbai,  Banking stocks on Thursday zoomed following reports that the government may allow 100 per cent foreign direct investment (FDI) in private sector banks. The S&P BSE banking index surged by 1.64 per cent — almost 500 points higher — with stocks of major private banks in the lead. Around 1.30 p.m., stocks of Yes […]

IDFC Bank announces merger with Capital First

Mumbai, IDFC Bank on Saturday announced its merger with non-banking financial company Capital First. “The Board of Directors of IDFC Bank Ltd… have considered and approved a composite scheme of amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd…” IDFC Bank informed the BSE in a regulatory filing. The […]

November IIP data confirms sound manufacturing revival: Official

New Delhi, Economic Affairs Secretary Subhash Chandra Garg on Saturday said the robust 8.4 per cent growth of factory production in November “confirms sound manufacturing revival”. “After core sector growth at 6.8 per cent, exports growth exceeding 30 per cent and PMI (Purchasing Manager’s Index) at multi year high of 54.7, IIP (Index of Industrial […]

Infosys lowers rupee guidance to 2-3 per cent

Bengaluru, Software major Infosys on Friday lowered its consolidated annual revenue guidance to 2.1-3.1 per cent from 3-4 per cent in rupee terms but maintained in dollars at 6.5-7.5 per cent for fiscal 2017-18. In a regulatory filing on the BSE, the city-based firm said revenue growth was expected to be 2.1-3.1 per cent annually […]

Manufacturing lifts India’s November factory output by 8%

New Delhi, An exponential rise in the manufacturing output lifted India’s total factory production by over 8 per cent in November from 1.99 per cent in October and 5.1 per cent during the corresponding period of 2016-17, official data showed on Friday. As per the IIP data released by the Central Statistics Office (CSO), the […]

Sensex, Nifty50 close at new highs; IT, realty stocks gain

Mumbai, Key Indian equity indices on Thursday provisionally closed in the green, with both the Sensex and the Nifty50 scaling fresh closing highs. Market observers felt that optimism ahead of the release of third quarter earnings of global software major Tata Consultancy Services (TCS), along with healthy buying in the IT, realty and Teck indices, […]

India should avoid China-like urbanisation: NITI Aayog Vice Chairman

New Delhi, India should not replicate foreign urbanisation models like that of China which may lead to “inequitable and unbalanced” urbanisation, NITI Aayog Vice Chairman Rajiv Kumar said on Thursday. He said that development in China had happened only along the coastline whereas other areas had remained backward, forcing millions of people to move inward […]

Airtel, Vodafone offer cashback on Samsung smartphones

New Delhi,  In a bid to make 4G smartphones affordable to consumers, telecom services provider Bharti Airtel and Vodafone on Thursday announced cashback offers worth up to Rs 1,500 on Samsung’s J series devices. “Four models from Samsung’s Galaxy J-series including J2 (2017), J5 Prime, J7 Prime and J7 Pro will be available with cashback […]

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