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The rupee depreciated by 2.8% against the US dollar in 2024, marking its seventh consecutive year of decline. Contributing factors included RBI's forex intervention strategy, a strong US dollar, and capital outflows due to a shift in investor focus from India to China. Structural issues like inflation differentials and current account deficits also played a role. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dj4D59Q

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Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9BRqKLe

Vodafone Group cleared debt dues of Rs 11,650 crore by releasing pledges on shares of Vodafone Idea. The pledged shares were raised against debt from HSBC Corporate Trustee. These shares represent a 22.56% stake, currently valued at Rs 11,649 crore. Post-repayment, the equity shares held by Vodafone Promoter Shareholders have been released. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1ul28Qc

Osamu Suzuki, a key figure behind Maruti 800, was instrumental in introducing the small car to India in 1983. His vision and risk-taking attitude significantly shaped the Indian automobile industry, making it a robust economic sector. His efforts modernized industrial practices and created a strong supplier ecosystem in India. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/48Eeiar

Urban FMCG demand is not expected to fully recover until mid-2025, despite companies focusing on premium products. Inflation is constraining urban spending, while rural areas show recovery. High commodity prices impact discretionary spending. E-commerce is growing for brands like Nestle. Industry executives call for policy measures to stimulate mass consumption and manage inflation. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Y9qsjm4

IndusInd Bank plans to auction Rs 1,573 crore worth of non-performing microfinance loans, setting a reserve price of Rs 85 crore, indicating a significant loss. The bank's promoters have pledged additional shares, raising the total pledged share capital to 6.86%, to secure an existing loan. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lSqxDWp

The finance ministry's report indicates that the combination of RBI's monetary policy and structural factors may have led to the economic slowdown. The ministry highlighted slowed urban consumption and cautious corporate hiring practices as contributors. The report anticipates improved growth in the second half of FY25, while stressing the need for a comprehensive commitment to sustaining growth amidst global uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JPzwZOU

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Indermit Gill, World Bank chief economist, emphasizes India's potential to elevate its growth from 6% to 8% by enhancing efficiency and economic freedom, focusing on quality education, staying open to FDI and trade, and improving women's workforce participation. India's favourable demographics and balanced economy support these prospects. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JmnH2Fi

India's economic growth is expected to improve in the latter half of FY25, driven by festive activity, rural demand, and agricultural growth. The RBI report highlights potential moderation in food prices, government capital expenditure challenges, and broader economic trends affecting GDP and inflation projections. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0Qt3PZI

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Encyclopaedia Britannica, once a weighty symbol of knowledge, has successfully transitioned to the digital age. By embracing AI and expanding into educational software and online dictionaries, the company has achieved impressive profit margins and is now considering a $1 billion IPO. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yHC2Dv6

The GST Council waived taxes on cancer gene therapy and reduced levies on fortified rice kernels. Decisions on ATF inclusion, insurance rates, and food delivery services were deferred. Used cars will face 18% GST, while pre-packed popcorn and voucher transactions saw clarifications. A new GoM will address state-level disaster levies. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3MxR790

Former RBI Governor Raghuram Rajan revealed that ex-Finance Minister Arun Jaitley supported his decisive action on tackling bad bank loans. Rajan attributed the NPA surge to corruption, delayed clearances, and the global financial crisis. He also pointed to slow government recapitalization hindering lending. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CYvHh6X

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TCS and Infosys added twelve $100 million+ clients each post-pandemic, outpacing Wipro and HCLTech's seven. While TCS and Infosys boasted 62 and 40 such clients respectively by 2023-24, Wipro and HCLTech had 22 each. Large deal wins slowed across the industry due to reduced spending and global uncertainties. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CkjBrVu

The Sensex plunged nearly 1,200 points on Friday, marking its fifth consecutive day of losses. Foreign fund selling, a hawkish US Fed, a weak rupee, and poor trade data fueled the decline. The index has erased recent gains, leaving investors poorer by ₹9 lakh crore this week. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/aiYGohn

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The Indian rupee fell to a record low against the US dollar, crossing the 85 mark for the first time. This drop was influenced by the US Federal Reserve's indication of fewer-than-expected future rate cuts. While the decline makes imports costlier and benefits NRI remittances, its impact on export competitiveness is debated. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Pz6VRvq

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Finance Minister Nirmala Sitharaman addressed concerns about India's economic slowdown, calling the second-quarter dip a "temporary blip." She highlighted the country's strong average growth rate of 8.3% over the past three years and emphasized the government's commitment to managing inflation, citing recent positive trends and supply-side measures. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lDYCaZe

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India's service exports are poised to surpass goods exports in November, reaching an estimated $35.7 billion. Driven by Global Capability Centers (GCCs) and robust growth in sectors like management and legal services, this shift reflects a sustained upward trend. The government aims to further boost service sectors like IT, tourism, and maritime services to achieve a $1 trillion export target. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yMjruvq

Indian tech companies are rolling out innovative perks to attract and retain millennial and Gen Z employees. These include unlimited sick leave, pet-friendly policies, and "well-being days" to combat burnout and boost productivity. Companies are also focusing on skill development, diversity, and flexible work arrangements to cater to the evolving needs of the younger workforce. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/StM4EdH

Mukesh Ambani and Gautam Adani, once centibillionaires, have seen their fortunes decline. Ambani's Reliance conglomerate faces underperforming energy and retail businesses, while Adani confronts a US Department of Justice probe over alleged bribery, adding to the fallout from previous fraud accusations. Both tycoons are battling to regain investor confidence amidst these mounting challenges. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XvtALq1

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Vivo India and Dixon Technologies are forming a joint venture for contract manufacturing electronics, including smartphones. Dixon will hold a 51% stake. The partnership aims to boost local manufacturing and Vivo's presence in India, with the JV handling some of Vivo's OEM orders and potentially those of other brands. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6CzZY7D

Coal India Ltd. has invested Rs 5,570 crore in corporate social responsibility (CSR) projects over the last ten years, focusing on education, healthcare, sports, skill development, and women's empowerment. West Bengal Governor C V Ananda Bose and Coal Secretary Vikram Dev Dutt commended the company's efforts, particularly in tribal areas and coal-bearing regions. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hZbgueE

India's Unified Payments Interface (UPI) processed a staggering 15,547 crore transactions worth Rs 223 lakh crore between January and November 2024. UPI's global reach now extends to seven countries, solidifying India's position as a leader in digital payments. October saw a record 16.6 billion UPI transactions, highlighting its transformative impact on the nation's financial landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/swhEAfy

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The Enforcement Directorate (ED) has returned properties worth Rs 4,025 crore to JSW Steel, the successful bidder for the bankrupt Bhushan Power and Steel Ltd (BPSL). The assets were originally seized by the ED during a money laundering investigation that revealed BPSL's former promoters had defrauded banks of Rs 47,204 crore. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jcNMuAl

Bajaj Finance is leveraging AI to boost its business. Their FinAI initiative aims to triple lead conversions, double back-office productivity, and improve front-line performance. AI will personalize customer interactions, like offering tailored product suggestions via interactive SMS. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2l1F4UM

The Sensex surged 843 points to a two-month high of 82,133, driven by strong foreign fund inflows and buying in FMCG, IT, and banking stocks. This followed a volatile session with a 2,100-point intraday swing, influenced by global market weakness and uncertainty about China's economic recovery. Market sentiment remains cautious due to rising US Treasury yields and a weaker rupee. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NSFUtyr

India's retail inflation eased to 5.5% in November from a 14-month high, driven by moderating food prices. Industrial output saw a modest 3.5% rise in October. While food inflation slowed, vegetable and edible oil prices remain high. Experts anticipate a potential rate cut in February if the trend continues, though urban demand needs monitoring. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZYcbrsk

Jubilant Bhartia Group is set to acquire a 40% stake in Hindustan Coca-Cola Holdings (HCCH), the parent company of India's largest Coca-Cola bottler, for over Rs 10,000 crore. This investment reflects the group's confidence in India's growing beverage market and aligns with their expansion strategy into high-growth sectors. The deal awaits regulatory approval. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wLF8OrX

Sanjay Malhotra, the new RBI governor, emphasized stability, trust, and growth as the central bank's core values. He stressed the importance of financial inclusion in fostering India's continued growth trajectory. While prioritizing policy stability, Malhotra promised agility and a consultative approach, acknowledging the need for diverse expertise in navigating a complex global landscape. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/guhwFys

Zepto is launching a separate app, Zepto Café, to deliver food items like chai, samosa, and pizza within 10 minutes. This move challenges established players like Zomato and Swiggy in the rapidly growing quick-commerce food delivery market. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MZO1rht

Sebi plans to leverage the government's DigiLocker system to address unclaimed assets in the securities market. By integrating demat and mutual fund holding statements, and information on investor deaths, Sebi aims to streamline the transfer of assets to rightful heirs. This initiative will consolidate individuals' financial holdings within their DigiLocker accounts and notify nominees upon the account holder's demise. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/inzG2pS

Amazon India's senior VP, Amit Agarwal, amidst regulatory scrutiny, affirms compliance and advocates for progressive e-commerce policies. He emphasizes investments in logistics and infrastructure, not cash burn, and highlights a new quick commerce pilot program in Bangalore. Agarwal reiterates Amazon's long-term commitment to India's growth. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4NAmzdI

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Nissan faces a potential bankruptcy within the next year due to a 70% profit plunge and a $60 million loss. The company plans a $3 billion restructuring, including 9,000 job cuts and production reductions. A potential merger with Honda is being considered as a solution to navigate the challenging automotive market and bolster its struggling electric vehicle offerings. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pODHfC9

Revenue secretary Sanjay Malhotra has been appointed as the new RBI governor, succeeding Shaktikanta Das. The 56-year-old IIT Kanpur and Princeton University alumnus will begin his three-year term on December 11th. Malhotra's appointment marks a continuation of bureaucratic leadership at the central bank, following Das's tenure of close coordination with the government. from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BJNatES