BUSINESS
April Sees India's Industrial Production Grow by 5%
By sector it has broken down in mining 6.7%, in manufacturing 3.9% and in electricity 10.2% compared to the same month of the previous year. The subsectors of manufacture whose activity increased the most during April 2024 were: 'Elaboration of basic metals' 8.1 percent; 'Manufacture of coke and refined petroleum products' 4.9 percent; and 'Manufacture of motor vehicles, trailers and semi-trailers' 11.4 percent.
Moody's Report Highlights Strong Position of Indian Financial Institutions Amid Economic Growth
The creditworthiness of India’s financial system has strengthened significantly over the last 3-4 years. Financial institutions are benefiting from record-high profitability, minimal loan defaults, and steady funding from domestic sources, supporting their stable credit ratings. Improved capitalization, driven by strong internal earnings and capital raised from buoyant debt and equity markets, has also been noted in the report.
India to Lead Global Growth with 6.7% GDP Increase Over Next Three Years: World Bank
In its 'Global Economic Prospects' report, the World Bank kept the growth forecast for India at 6.6% for FY25 and said the nation will remain the fastest among world majors but the pace of expansion might ease a bit. "After the high growth rate of FY 2023/24, the trend growth for the three years from FY 2024/25 is projected to be 6.7 percent on an average," said a report released by the bank.
Modi 3.0 Cabinet composition indicates policy continuity: Nomura
Expecting stability in politics, Nomura has held on to its portfolio and estimated that the Nifty 50 index can climb by next year, above 24,860 points.
Sensex crosses 77,000-mark for first time; Nifty hits all-time high of 23,411.90
Multiple factors fuelled the markets to record yet another session in the green — the RBI up its projection for economic growth in this fiscal to 7.2% from 7% earlier, and fresh inflows from foreign funds.
Warm Regards from Gates and Mahindra as PM Modi Embarks on Historic Third Term
Gates praised the leadership of Prime Minister Modi, crediting him for positioning India on the global map and making strides in the fields of health, agriculture, women's development, and digital transformation. Gates was looking forward to continuing to work together to improve people's lives in India and around the world, and maybe it will include another visit to the country where recently he met PM Modi and discussed everything from artificial intelligence to healthcare.
Ixigo IPO Launches Monday with Share Price Range of Rs 83-93
The lot size for retail investors in this IPO is 161 shares. Hence, the minimum investment required to make in this IPO is an approximate value of Rs 14,973. Before the company launched its IPO, Le Travenues Technology Ltd. had raised Rs 333 crore from 23 anchor investors at an issue price of Rs 93 per share.
Indian youth, stable democracy will provide robust business environment: Prime Minister Modi's Assurances to Musk for a Flourishing Business Landscape
"Appreciate your greetings @elonmusk," PM Modi said.
RBI raises GDP growth projection from 7% to 7.2% for FY25
Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das projected India's real GDP growth at 8.2 percent in fiscal year 2023-24.
RBI Chief reveals why gold from UK was shifted to India
The RBI Governor further noted that the amount of gold held abroad had remained unchanged for a significant period.
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