Maruti Suzuki India Ltd. is actively addressing its inventory levels in response to slowing domestic sales, with Chairman RC Bhargava announcing plans to meet an internal target of maintaining a 30-day inventory by the end of November. This adjustment may lead to a shift in the company's production strategy, as Bhargava emphasized the importance of aligning production with dealer sales. The company is now focusing on retail sales data rather than wholesale figures to better asse

Aegis Vopak Terminals Ltd. has announced that its board of directors has approved a proposal to raise ₹4,000 crore through an initial public offering (IPO) and an additional ₹800 crore via private placement. The IPO will consist of a fresh issue of equity shares, each with a face value of ₹10, as stated in the company's exchange filing. The IPO is subject to regulatory approvals and market conditions, while the preferential issue will be conducted on a private placement ba

At the NVIDIA AI Summit in Mumbai on October 24th, NVIDIA announced a strategic partnership with Reliance Industries to build India’s largest AI infrastructure. The collaboration will leverage NVIDIA’s powerful GB 200 supercomputer to establish scalable AI capabilities. With this move, Reliance aims to revolutionize the AI landscape in India, similar to how Jio transformed mobile data accessibility. Following Jio’s data success, Mukesh Ambani is now focusing on AI

With the festive season fast approaching, particularly the auspicious occasion of Dhanteras, gold and silver prices in India are showing notable fluctuations. As of Friday, gold is trading at ₹78,060 per 10 grams, according to the India Bullion and Jewellers Association Ltd (IBJA). This slight dip occurs as both metals hover near their all-time highs, spurred by traditional demand during this significant buying period. Dhanteras and its Significance: Dhanteras mar

BSNL, the state-owned telecommunications provider, has reported a significant increase in subscribers for the second consecutive month, defying industry trends as private telecom giants face user losses due to recent tariff hikes. According to the latest data from the Telecom Regulatory Authority of India (TRAI), India saw a net loss of 57.7 lakh mobile subscribers in August, a sharp increase from the 9.2 lakh lost in July. BSNL added 25.3 lakh new users in August, building on a str

MSTC Ltd. has officially signed a share purchase agreement with Konoike Transport Co. Ltd. for the strategic disinvestment of Ferro Scrap Nigam Ltd. (FSNL), marking a significant milestone in the privatization process. This agreement comes after the Indian government approved the sale to the Japanese corporation for Rs 320 crore, exceeding the reserve price of Rs 262 crore set by the government based on valuation assessments. The announcement was made by the Secretary of the Departm

In the latest quarterly earnings report, Hindustan Unilever has announced a 2% decrease in profit for the second quarter, raising concerns among investors and analysts about the company's performance amid challenging market conditions. This decline prompts a closer look at the underlying factors affecting the company's profitability and its future strategies to regain momentum. On a brighter note, Thyrocare has reported a remarkable

Urban cities in India are grappling with significant challenges as muted demand and rising food inflation impact the market, according to Suresh Narayanan, CEO of Nestle India. Mega cities are particularly struggling, experiencing weak performance in key segments such as milk and nutrition, chocolate, and confectionery. Brands like Munch are facing heightened regional competition, which adds to the pressure on sales. Narayanan revealed that Nestle India plans to implement further pr

 World Summit 2024 in New Delhi, Prime Minister Narendra Modi asserted that India remains an appealing destination for global investors, even amid global trade and geopolitical tensions. He marked the first 125 days of his government’s third term as a period of accelerated growth, with positive indicators attracting investor attention. During his keynote address, Modi pointed out that both the Nifty and Sensex indices have seen growth of 6-7% during this time. He also hig

The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards. In a press release, the RBI emphasized its ongoing commitment to

Jamshyd Godrej, Chairman of the CII-Sorabji Green Business Centre, has expressed confidence that India can emulate the remarkable economic growth that China experienced in recent decades. Speaking exclusively on Wednesday, Godrej emphasized that achieving such growth rates, similar to China's average GDP growth of 9.91% from 1979 to 2010, is within India's reach. However, he stressed the need for enhanced coordination between Indian industries and the government in policymaking.

The Indian government is reportedly unfazed by the escalating tensions with Canada, as indicated by sources within the Commerce Ministry. Officials emphasize that investments from Canada, particularly from public pension funds, are likely to persist, albeit through indirect channels. According to these sources, India remains an attractive market for investment, and funds will continue to flow, often routed via Singapore, Mauritius, or the Middle East. In terms of trade, India and Ca

India has formally raised its concerns regarding a significant increase in imports of silver products, platinum alloy, and dry dates from the United Arab Emirates (UAE). This plea was made during the second meeting of the joint committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), held in the UAE on October 14. The Indian delegation, led by Additional Secretary in the Department of Commerce Ajay Bhadoo, urged the UAE to ensure that trade rules are not circumvented

India's wholesale inflation experienced a notable increase in September, driven largely by rising food prices, as reported by the Ministry of Commerce and Industry. The Wholesale Price Index (WPI) climbed by 1.84% compared to 1.31% in August on a year-on-year basis. This uptick in inflation comes amidst a broader context of economic fluctuations. The inflation rate for manufactured products, which constitutes a significant portion of the index, saw a slower growth rate of 1% in

The past week was significant in shaping India's economic narrative, marked by the death of industrialist Ratan Tata and shifts in monetary policy. Ratan Tata's Passing and Noel Tata's Appointment: India mourned the loss of Ratan Tata, the revered former chairman of Tata Sons, who passed away at 86. In a board meeting, Noel Tata was appointed as the new Chairman of Tata Trusts, a pivotal moment in the continuity of the Tata legacy. Noel, wh

India's benchmark equity indices closed lower for a second consecutive week on Friday, as market sentiment was dampened by losses in major stocks such as Titan Co. and Tata Steel Ltd. On Friday, the Nifty index slipped by 0.10%, or 24.15 points, finishing at 24,974.3, while the Sensex declined by 0.22%, or 176.01 points, closing at 81,435.40. The decline was attributed to the performance of banking stocks and Tata Consultancy Services Ltd., which contributed significantly to the

The mutual fund industry in India reported net outflows of ₹71,114.08 crore for September 2024, as per the latest data from the Association of Mutual Funds in India (AMFI). This decline follows a staggering 42.8% drop in August, where cumulative inflows into mutual funds were recorded at ₹1.08 lakh crore. Equity mutual funds saw a decline in inflows by 9.9% in September, totaling ₹34,419.26 crore, down from ₹38,239.16 crore in August. The net assets under management (AUM) of

On Thursday, benchmark equity indices in India ended with slight gains as investors geared up for the earnings announcement from Tata Consultancy Services (TCS), the country's largest IT services firm. Additionally, inflation data from the US, set to be released after market hours, remained a focal point for traders. The Nifty index closed up by 0.07%, gaining 16.50 points to finish at 24,998.45, while the Sensex increased by 0.18%, adding 144.3 points to close at 81,611.4. Desp

In a significant development for Andhra Pradesh's IT landscape, Minister Nara Lokesh announced that Tata Consultancy Services (TCS) will establish a major IT facility in Vizag, creating 10,000 direct employment opportunities. This announcement, made via Lokesh's social media, is expected to serve as a catalyst for further investments in the region. Minister Lokesh expressed his enthusiasm, stating, “I’m happy to announce the development of an IT facility by Tata

The Reserve Bank of India (RBI) is taking a cautious approach to inflation management following a slight rise in the latest inflation readings. During a policy address on Wednesday, RBI Governor Shaktikanta Das emphasized the need to keep inflation on a "tight leash" due to potential upside risks stemming from adverse weather conditions and ongoing geopolitical tensions. In August, India's retail inflation, measured by the Consumer Price Index (CPI), edged up to 3.65%,