Defence sector stocks came under pressure on Thursday as investors booked profits following a sharp three-month rally. The Nifty India Defence Index dropped 2%, lagging the broader Nifty which ended 0.5% lower.Out of the 18 stocks on the defence index, 16 closed in the red. Bharat Dynamics was the biggest loser, falling 4.8% to Rs…
India’s foreign exchange reserves declined by $3.049 billion to $699.736 billion for the week ended July 4, according to data released by the Reserve Bank of India (RBI) on Friday.This comes after a sharp rise of $4.849 billion in the previous week, which had taken the reserves to $702.784 billion. The all-time high of $704.885…
The government on Friday launched its first customer-facing incentive scheme for electric trucks under the PM E-DRIVE initiative, offering up to Rs 9.6 lakh per vehicle. The scheme, announced by Union minister H D Kumaraswamy, has earmarked Rs 500 crore for e-truck incentives out of a total Rs 10,900 crore programme outlay.Targeting industries such as…
TCS had previously disclosed in April that salary increases would be postponed due to business uncertainties. (AI image) Employees of Tata Consultancy Services (TCS) will have to wait a little longer for clarity on salary hikes. In its June quarter financial results announcement, India’s largest IT services firm has indicated that decisions regarding salary increases…
NEW DELHI: Akshat Shrivastava, an investor and entrepreneur has sparked a fresh debate on financial freedom, this time with a blunt and thought-provoking post on X. Known for his straight-talking views on personal finance and macroeconomics, Shrivastava shared five key lessons from his own journey of breaking out of the middle-class trap, challenging widely held…
India has rejected Australia’s demand for deeper tariff concessions on dairy and alcoholic beverages, delaying the second phase of a proposed bilateral trade pact, news agency Reuters reported citing two Indian government sources.The countries signed an interim deal in 2022 that reduced tariffs on a wide range of goods. However, talks on a full-scale Comprehensive…
The Open Network for Digital Commerce (ONDC) is considering reviving its subsidy program with a proposed incentive pool of Rs 100–150 crore for food delivery partners operating on its platform. If implemented, the move would mark a significant policy reversal for the government-backed e-commerce platform, which had previously scaled back such incentives.The new subsidy plan,…
NEW DELHI: India may see the first commercial rollout of satellite communication services by December, as Starlink, Reliance Jio-SES, and Bharti-backed Eutelsat OneWeb have received all necessary approvals to begin operations.Industry executives say that while infrastructure has long been in place, spectrum allotment delays have prevented these players from launching earlier, costing India both revenue…
The bank has been gathering client input regarding potential modifications to its GBI-EM Global Diversified index. (AI image) JPMorgan Chase & Co. is evaluating potential adjustments to its primary emerging-market index by reducing the allocation of major bond issuers, including China and India, aiming to encompass a wider spectrum of developing-nation debt.According to documents reviewed…
Multi asset allocation funds have outperformed the Sensex in the past five years. Want to earn decent returns at lower risk? Go for multi asset allocation funds that invest in a mix of equity, debt and commodities. These funds invest in at least three asset classes, with a minimum allocation of at least 10% to…