BUSINESS
RBI Governor Optimistic Growth Will Exceed 7.2% Estimate in April-June Quarter
He also pointed to the strong recovery in private consumption, mentioning recovery in rural demand, which, again, he broadly attributed to good growth in the agricultural sector. An above-average monsoon, as projected by the India Meteorological Department, is bound to further raise Khariff crop production.
Foreign Funds Pour Over Rs 83,000 Crore into Indian Debt Market Since September
JP Morgan recently announced that Indian bonds would find a place in emerging global indices from June 28. REUTERS Global funds have invested around Rs 7,350 crore in Indian bonds till June 18, according to data from the Clearing Corporation of India against Rs 5,200 crore invested in May. However, in April these funds sold Rs 9,830 crore worth of bonds in the Indian debt market.
India Sees Strong 21% Rise in Net Direct Tax Collections for FY25
The net direct tax collection includes Corporation Tax CIT of Rs 1,80,949 crore, and Personal Income Tax PIT, including STT, of Rs 2,81,013 crore net of refunds.
Fitch Upgrades India's FY25 Growth Forecast to 7.2%
For the fiscal years 2025-26 and 2026-27, Fitch forecasts growth rates of 6.5 percent and 6.2 percent, respectively.
Defence Companies' Order Books Soar in Pursuit of Aatmanirbhar Bharat
The country's leading defence industry, Bharat Electronics Limited, headquartered in Bengaluru, has an order book of Rs 75,934 crore. The second one is Hindustan Aeronautics Limited, which caters mostly to orders from the Indian Air Force with secured orders worth Rs 38,561 crore. The Company is also eying technological advancement as it is likely to sign a deal with the US for producing advanced GE engines in HAL outlets.
Foreign Investors Inject Rs 11,730 Crore into Indian Equity Markets, Marking a Strong Reentry
Data from depositories indicate that till June 14, the net outflow of FIIs from the equity segment was at Rs 3,064 crore. In just the period between June 3 and June 7, foreign investors sold equities worth Rs 14,794 crore. At the same time, FIIs have been favoring the debt market, investing Rs 5,700 crore in debt till mid-June.
Hyundai Motor Sees Surge in Shares Following $3 Billion IPO Filing for Indian Unit
The euphoria of the initial drama, however, somewhat fizzled out by 10:30 a.m. to 279,000 won, Yonhap news agency said.
Zomato Explores Acquisition of Paytm's Movies and Events Business
Zomato updated bourse on the developments to say the discussions would further strengthen its "Going out" business segment, which is its strategy going forward only to its four core business verticals as of now.
Modi 3.0 Propels Indian Stock Markets Toward Record Highs in Next Year, Predict Global Rating Agencies
The influx of global funds into the stock market is expected to accelerate in the near future. Additionally, the markets have become a favored choice for retail investors seeking investment opportunities.
India Poised for $250 Billion Electronic Manufacturing Boom in Next Five Years
The Invest India says, "Technological advances such as 5G Network readiness and emergence of IoT prove to be growth drivers for increasing adoption. In addition, Government initiatives in the country are like 'Digital India' and 'Smart City' projects are likely to create substantial growth prospects for IoT in the electronics market thus marking entry into a transformational phase in the electronic goods.
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