BUSINESS
India's Foreign Exchange Reserves Reach Two-Year Peak at $636.1 Billion
This remarkable ascent marks the largest leap in the nation's forex reserves since the week culminating on July 14, 2023. In the prior reporting period, the overall reserves had already seen a substantial increase of $6.55 billion, reaching $625.63 billion.
Indian Railways Achieves Landmark Revenue of Rs 2.4 Lakh Crore in Fiscal Year 2023-24
As of March 15 in the fiscal year 2023-24, the cumulative revenue of Indian Railways has reached Rs 2.40 lakh crores, marking an increase of Rs 17,000 crore compared to the corresponding period of the previous fiscal, which recorded Rs 2.23 lakh crores.
Byju's Ordered by US Court to Freeze $533 Million Debt to Lenders
As per the statement released by the steering committee, the judge has prohibited Byju's co-founders, Byju Raveendran and Divya Gokulnath, from transferring or utilizing any portion of the $533 million loan proceeds previously under the control of Camshaft Capital Fund, and subsequently shifted to an undisclosed offshore trust.
Nationwide Reduction: Petrol and Diesel Prices Slashed by Rs 2
Effective from 6 am on Friday, March 15, the revised prices will take effect, as confirmed by the oil ministry in its announcement on Thursday evening. In the national capital, petrol will see a decrease to Rs 94.72 per litre from the current Rs 96.72, while diesel will be priced at Rs 87.62, down from Rs 89.62.
Gautam Adani's Blueprint for Entrepreneurial Triumph: Unveiling Five Essential Mantras
Addressing the gathering, Adani underscored the inevitable challenges that accompany success, cautioning that as one's achievements soar, so too does the target on their back. He stressed that the true measure of success lies not solely in accomplishments, but in the resilience exhibited amidst adversities.
UBS: India's Economy Demonstrates Resilience Against External Challenges
Traditionally, periods of high growth in India have been accompanied by an expansion of the current account deficit (CAD). However, in recent years, the CAD has remained within a sustainable range due to various factors such as a higher surplus in services trade and significant remittance inflows.
Record-breaking Sales: Nothing Phone (2a) Sells 60,000 Units in Just One Hour!
This remarkable achievement led to the phone quickly selling out, setting a new record for the company.
India's Private Equity Landscape Shows Persistent Growth: Report Findings
Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, commented on the stability observed in India's deal market amidst global turbulence. While M&A activity experienced a notable decline in value, PE investments continued their upward trajectory, albeit with reduced figures. Looking ahead, despite short-term volatility, Vijetha expressed optimism in India's strong fundamentals and economic recovery, which are expected to bolster investor confidence.
Vodafone Idea Clinches $1 Billion Equity Pledge from Investors, Signals 'Soft Commitment'
According to informed sources, the telecom giant has garnered a "soft commitment" from investors, which encompasses contributions from promoters as well. The intended use of these funds includes clearing vendor dues and directing investments towards bolstering both 4G and 5G infrastructure.
January Sees Industrial Production Grow by 3.8%
The industrial growth rate for January remains consistent with the provisional figures reported for December 2023. However, upon further analysis, the December figures have been revised upwards to 4.2 percent, indicating a stronger performance than initially estimated.
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