Techno Deshwal

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The Federal Reserve left interest rates unchanged in its latest policy statement, signaling a shift away from a bias towards rate hikes. While not indicating an imminent rate cut, the Fed acknowledged concerns about both inflation and employment, suggesting a more balanced approach. The statement disappointed investors expecting rate cuts soon, emphasizing the need for greater confidence in achieving the 2% inflation target before considering reductions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pjNenJi via IFTTT

NTPC is set to acquire the KSK Mahanadi power station in Chattisgarh, a large greenfield project with a proposed capacity of 3,600 MW, marking the state-run utility's second acquisition of a stressed asset. The project came under corporate insolvency resolution process in April 2022 after defaulting on loans. NTPC's investment in the project is valued at Rs 5,000 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xmf2VMG via IFTTT

Indian Highways Management Company (IHMCL), a subsidiary of the state-owned National Highways Authority of India (NHAI), will extend the deadline for KYC compliance for FASTags by one month, a senior government official said on Wednesday.​ Earlier on January 15, the NHAI said FASTags with valid balances but incomplete KYC will get deactivated by banks after January 31, 2024. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jNuyPDh via IFTTT

Sebi, is reviewing a requirement for listed companies to disclose all penalties imposed by authorities, regardless of the amount, which has increased compliance burden. Previously, companies had discretion in disclosing fines. Critics argue that reporting even insignificant penalties, such as those representing a tiny fraction of a company's market capitalization, leads to unnecessary compliance burden and obscures truly significant disclosures. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SB2hzNO via IFTTT

Companies challenge NAA's methodology, seek remedy in GST Appellate Tribunal. Complexity arises due to lack of clear methodology for individual calculations. FMCG argues increased costs during GST introduction. Furniture companies cite higher import costs. Auto companies mention minimal cost reduction. Court's order poses challenge for GST Council. Slab merger and rate reduction may lead to similar disputes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5WRID92 via IFTTT

The Indian government has released a set of measures to enhance women's participation in the workforce, including gender-neutral recruitment ads, creche breaks, promoting women in management, and providing maternity benefits to highway and construction workers. The government also encourages companies to review procurement practices, address gender pay gaps, and set up hostels for working women. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7UDJFsM via IFTTT

On Monday, the Sensex surged by 1,241 points, marking the highest single-day gain since December 4, 2023, and closing at 71,942. Reliance Industries led the rally with nearly a 7% surge, contributing to its best daily gain in about three years. The Nifty gained 385 points or 1.8%, closing at 21,738 points. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dTbv1VJ via IFTTT

Gold strengthened on Monday due to increased tensions in the Middle East, which bolstered demand for the safe-haven asset. Additionally, market participants awaited the Federal Reserve policy decision later in the week for further insight into the timing of the first US interest rate cut of the year. Spot gold rose by 0.4% to $2,027.00 an ounce by 12:02 pm ET (1702 GMT). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w8z4Eci via IFTTT

Reddit is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RmSvxPw via IFTTT

If there is one word to describe the Budget team, it's stability. Not only has finance minister Nirmala Sitharaman stayed her full term and will present her sixth straight Budget, but there are at least two secretaries who would be there for their fifth Budget - a rarity in bureaucracy.Finance secretary T V Somanathan and department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey have been part of the Budget team since they took over top positions and could well have two full Budgets to deal with in July and Feb 2025. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/IpgNtBh via IFTTT

The analysis of budget expectations for senior citizens, based on a survey by the Agewell Foundation, reveals significant concerns among the elderly. Key points include the demand for GST exemptions or lower rates on essential products like adult diapers and wheelchairs, a call for more realistic old age pension schemes, and a desire for tax-free investment options. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ODAz9x via IFTTT

Rana Talwar, the first Indian and Asian to lead a global bank, passed away at the age of 76. He had been unwell for some time. Talwar began his career with Citibank in India in 1969 and played a crucial role in establishing Citi's consumer banking as a leading franchise in the nineties. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Rdyl8GY via IFTTT

Yes Bank reports fourfold increase in net profit to Rs 231 crore, driven by lower provisions. The bank's operating profits declined due to modest growth in net interest income and increased operating expenses. Supreme Court to hear petition against stayed Bombay high court order on Yes Bank's write-down of Additional Tier 1 bonds. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a8lP3eR via IFTTT

Indraprastha Gas Ltd plans to expand its piped natural gas service to 57 villages in Delhi's south-west region. As urban areas near saturation and electric vehicles threaten CNG sales, the company aims to reach rural areas. This initiative is part of the government's goal to increase the share of gas in India's energy basket to 15% by 2030. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ir3cACn via IFTTT

India Inc urges government to boost demand through public spending and disinvestment. Ficci recommends major thrust on public capex in forthcoming Budget. CII suggests 20% increase in capital expenditure to Rs 12 lakh crore, urban employment guarantee program, and focus on labor-intensive sectors. Finance minister to present interim Budget on Feb 1. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ThEjuQ7 via IFTTT

JPMorgan analysts state that JetBlue avoids a costly merger. The market value of Spirit's equity has dropped significantly. It is believed that JetBlue's management and board were no longer committed to the merger. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QcjXN56 via IFTTT

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Airbus is set to sign an accord to establish an assembly line in India for the production of H125 civil helicopters. The line will be overseen by Tata Advanced Systems Limited. This agreement is expected to be announced during French President Emmanuel Macron's visit to India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/B0VbCsv via IFTTT

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Wipro founder Azim Premji gifted 10.2 million shares worth nearly Rs 500 crore to his sons, Rishad and Tariq. The transaction does not alter the overall promoter and promoter group shareholding in the company, which remains the same. As of December, Wipro promoters and the promoter group held 72.9% in the company. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ac7Lk1V via IFTTT

Foreign funds continued to sell off in the Indian market, with a net outflow of Rs 3,115 crore. In the past seven trading sessions, foreign portfolio investors have withdrawn over Rs 25,000 crore. This is one of the largest outflows in recent months, comparable to the outflows during the early days of the Covid pandemic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NkFE0yg via IFTTT

Outward remittances by Indians dropped to $1.9 billion in Nov last year, the lowest since Feb 2022. The decline continued due to increased tax collection at source (TCS) in October. Remittances for studies abroad dropped to $208 million in Nov compared to $269 million in Oct, and the average remittance before the TCS was $306 million. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bF3QZWw via IFTTT

RBI report highlights weakness in unsecured retail loans and credit card outstanding, urging lenders to closely monitor these segments. Personal loans now constitute the largest category of bank credit, while credit cards show a rise in stress. The study emphasizes the need for pre-emptive macroprudential measures and assessing the credit flow to avoid risk buildup. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rceLpyl via IFTTT

Despite a 10% increase in thermal power output, coal import for blending at power plants decreased by over 40% in April-December 2023 compared to the same period last year. Domestic coal production and supply rose sharply, resulting in a decline in imports. The government aims to completely stop importing thermal coal by the next financial year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l8AwsRo via IFTTT

Government plans to increase capital expenditure by 15-20% next year to sustain public spending and boost demand and investment. Road transport and highways may receive Rs 3.2 lakh crore, an 18.5% increase, while railways could see a 14% rise to Rs 2.8 lakh crore. This move is positive for sectors like cement and steel and will facilitate job creation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tPY9WOJ via IFTTT

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Indian Railways plans to collaborate with the Swiss railway to learn from their best practices and procedures, including the hub and spoke model and tunnelling technology. Railway Minister Ashwini Vaishnaw emphasized the importance of learning from Switzerland's expertise in tunnelling technology and highlighted their efficient track technology and seamless train transfers at designated hubs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/h9e6aP7 via IFTTT

Budget 2024 income tax: It is recommended that some changes be made to the new income tax regime to make it more attractive to the taxpayers such as availability of certain deductions like interest on housing loan for self-occupied property, retiral contributions (PF, PPF, NPS). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cimWk9J via IFTTT

Union Bank of India and IDBI Bank reported the highest increase in Q3FY24 net profit at 60% and 57%, respectively. ICICI Bank's net profit rose 23.6% to Rs 10,272 crore, while IDFC First Bank saw an 18% rise in net profit to Rs 716 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jeiMxpN via IFTTT

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Sebi has found evidence of merchant bankers inflating IPO subscription numbers to attract investors. The regulator is scrutinizing IPO-related data and will take measures to end such practices. Changes to policies related to public offers may be implemented. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xQYrvRa via IFTTT

Indian Immunologicals Ltd rolls out Havisure, India's first indigenous Hepatitis-A vaccine. The two-dose inactivated virus vaccine, developed over eight years, is priced at Rs 2,150 per dose. Extensive clinical trials have shown that Havisure is safe and efficacious for pediatric, adolescent, and adult use. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/l3xLzK8 via IFTTT

RBI governor Shaktikanta Das hints that rates will stay high until 4% inflation goal is met; rate cuts are not being considered. RBI is focused on achieving the target of 4% inflation and strengthening balance sheets of financial institutions. Food price volatility is also a factor affecting inflation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rMznT85 via IFTTT

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Foxconn teams up with HCL Group to start a chip packaging and testing venture in India. Foxconn will invest $37.2 million for a 40% ownership in the joint venture. HCL Group is moving ahead with a partnership with Foxconn for an OSAT facility. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7XeWobJ via IFTTT

India aims for $100 billion annual FDI, says Telecom and IT minister Ashwini Vaishnaw. India has gained trust as a reliable partner globally. The country has collaborations with US, Europe, Japan, South Korea. India's growth strategy includes investment in infrastructure, uplifting the bottom pyramid, boosting manufacturing, and simplifying business processes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Qb7Zfrc via IFTTT

In a series of peculiar motor accident claims in India during 2023, insurers faced challenges, along with perhaps a few moments of amusement. Unusual incidents included coconuts unexpectedly landing on cars, stray dogs causing damage, angry peacocks pecking at their reflections, and stressed elephants venting their frustration on vehicles. These incidents, while unique to the Indian market, could easily fit into a funny-fail video. One standout claim involved a buyer unintentionally driving a car right through a showroom window, adding a touch of unexpected humor to the list of insurance headaches. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/eusp3z6 via IFTTT

Gujarat, Karnataka, Kerala, and Tamil Nadu are the best states for startups, according to the latest rankings. Himachal Pradesh topped among Union territories and smaller states. Bihar and Haryana are considered "aspiring leaders". The rankings are based on various factors including institutional support and funding. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Qbt07hv via IFTTT

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RBI on Monday proposed to tighten norms for housing finance companies by tweaking the requirement of maintaining liquid assets against liabilities and reducing the maturity period for public deposits to five-years, among other changes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/acFPjIn via IFTTT

India's goods exports growth crawled back into positive terrain in December, rising 1% to $38.5 billion, which was the highest monthly reading since March, while a fall in imports helped narrow the trade deficit to a five-month low. During December 2023, key export sectors that have recorded negative growth included petroleum products, ready-made garments of all textiles, chemicals, and leather products. Sectors which are in the positive zone include plastic, electronic goods, engineering items, and gems and jewellery. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RSrf9M0 via IFTTT

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In a big step-up for the Indian luxury car market, Mercedes-Benz is looking to double installed capacity at its India factory to 40,000 cars per annum as the German giant charts out a strategy to maintain its lead in the country by launching new cars and expanding its footprint. The move, which is in early stages right now, will see the company expand annual installed capacity at its factory - located outside Pune - from the existing 20,000 units. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bO1Xh7z via IFTTT

Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the US from export to China, a Reuters review of tender documents show. The sales by largely unknown Chinese suppliers highlight the difficulties Washington faces, despite its bans, in completely cutting off China's access to advanced US chips that could fuel breakthroughs in AI and sophisticated computers for its military. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LQe9IA5 via IFTTT

During the 14th India-US Trade Policy Forum meeting on January 12, an official revealed that India has requested the United States to permit domestic labs for the irradiation of specific fruits, such as mangoes. This initiative aims to assist exporters in reducing additional trade expenses. Currently, exporters are compelled to conduct irradiation at US ports, leading to elevated costs and uncertainty in the event of consignment rejection. Fruit irradiation effectively disinfests them for safe entry into the US. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xeEIhqu via IFTTT

US-based asset manager BlackRock which holds a minority stake in troubled edtech startup Byju's has slashed the company's valuation to $1 billion as of October 2023. This is a 95% drop from its peak valuation of $22 billion at which the startup had raised $250 million in funding from investors in October 2022. The disclosure was made as part of recent filings made by the US firm's affiliate BlackRock Global Allocation Fund with the US SEC. Last year, BlackRock had cut the startup's valuation to $8.4 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0IgdMeX via IFTTT