The Nifty IT Index has declined approximately 15% since the beginning of 2025. (AI image) Accenture’s quarterly results have raised concerns for Indian IT sector’s growth prospects, with technology stocks, including industry leaders TCS, HCL Tech, and Infosys, experiencing a significant drop of up to 3% on Friday. Accenture’s results have led to worries about…
Market experts anticipate continued recovery in the short term. (AI image) Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Friday. While BSE Sensex was down over 100 points, Nifty50 was near 23,150. At 9:16 AM, BSE Sensex was trading at 76,237.17, down 111 points or 0.15%. Nifty50…
MUMBAI: US investment firm Bain Capital has signed definitive agreements to acquire joint control in Kerala-based Manappuram Finance – India’s second-largest gold loan company.Bain Capital will invest around Rs 4,385 crore for an 18% stake through a preferential allotment of equity and warrants at Rs 236 per share, reflecting a 30% premium over the six-month…
Microsoft Corp, the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc, which has an executive on the artificial intelligence startup’s board, are joining forces with one of his chief rivals.Microsoft and BlackRock said on Wednesday that Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial…
MUMBAI: RBI net sold $11.1 billion in the spot foreign exchange market in Jan, according to data released on Wednesday. It purchased $49.2 billion and sold $60.3 billion during the month.This was lower than Dec 2024, when RBI bought $54 billion and sold $69 billion, resulting in net sales of $15 billion. From April 2024…
MUMBAI: India remains the most cost-effective destination for remittances, yet recipients still lose around 5% of the money sent by relatives abroad in transfer costs.According to a Reserve Bank of India (RBI) study, the global average cost of sending $200 has fallen (from nearly 9.7% in 2009 to around 6.7% in Q2 2024) but remains…
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the incentive scheme for low-value BHIM-UPI transactions with an estimated outlay of Rs 1,500 crore. MUMBAI: The Union cabinet on Wednesday approved an incentive scheme to promote low-value BHIM-UPI transactions, focusing on payments made to merchants. The Rs 1,500 crore initiative, running from…
The Ministry of Road Transport and Highways is developing annual and lifetime toll charges for national highways. (AI image) The Modi government is working on a plan to reduce the toll payout for regular national highways’ users. Road Transport and Highways Minister Nitin Gadkari has announced that a new policy for national highway toll charges…
Chinese President Xi Jinping. (File photo) US President Donald Trump is escalating his global trade war, targeting not just China but also allies like India. As part of his “America First” economic strategy, Trump announced that India will face reciprocal tariffs starting April 2, claiming that the country imposes some of the highest duties on…
Department of Financial Services noted that reduced financial savings create challenges for banks’ liquidity management. (AI image) The Finance Ministry has told the Parliament about the risks associated with households moving their deposits from banks to market-linked financial instruments seeking better returns. This shift could expose families to substantial market risks, potentially leading to monetary…
