BUSINESS
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.
India among world's high-growing mkts; enterprise needs, innovation great fit for us: Red Hat CEO Highlights
"I think India, at this point, is one of the strongest markets in the world with its fundamentals...When I look at the opportunity in India...one, it is a high-growing market and has enterprise needs, so that is a great fit for us...Also, the core technical innovation base exists in masses in India, so being able to start that and reach the entire nation through things like open source technologies, that is what really gets me excited about India," he said.
India's Forex Reserves Soar to $644.15 Billion
This is the second consecutive week that the country's forex reserves have surged, following a preceding gain of $3.66 billion, which pushed the total to $641.59 billion for the week ended on May 3.
Sensex Surges 253 Points Following Strong Q4 Earnings Performance
Broad market indices, however, outshone the benchmarks. The Nifty Midcap 100 Index jumped 451 points or 0.88% to 51,604 points, while the Nifty Smallcap 100 Index gained 274 points or 1.65% to 16,870 points.
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