Centre rakes in Rs 26,644 cr as dividend from CPSEs

New Delhi (IANS) The central government has realized Rs 26,644 crore as dividend receipts from the Central Public Sector Enterprises (CPSEs) so far (as on December 4) during the current financial year, the Finance Ministry said on Wednesday.

Dividend…

Sharp up-move in IT stocks implying faster demand inflection than what Accenture commentary indicates

New Delhi (IANS) Accenture’s 1QFY24 growth albeit within its guided band was the slowest since the pandemic and interestingly, incremental deceleration over the past couple of quarters has come from Managed Services, a closer proxy for India IT Services…

Mumbai biz couple invests Rs 1,100 cr in SpiceJet for 19% stake

New Delhi (IANS) In a strategic move to bolster SpiceJet's financial position and spur growth, Mumbai-based businessman Harihara Mahapatra and his wife Preeti have announced a substantial investment of Rs 1,100 crore in the airline. The acquisition…

Gujarat most preferred manufacturing destination, Maharashtra second: Study

Gandhinagar (IANS) As the state gears up for the 10th Vibrant Gujarat Global Summit, Colliers India's comprehensive study on the country's manufacturing sector reveals that the manufacturing market could soar to a $1 trillion valuation by…

Sky One, SpiceJet express interest in acquiring troubled airline Go First amid liquidation concerns

New Delhi (IANS) Sky One, an aviation company headquartered in Sharjah, and SpiceJet have shown interest in acquiring the financially troubled airline Go First.

This unexpected development comes weeks after a proposal deadline had passed and…

India’s growth rate to stay strong, current account deficit to dip: IMF report

New Delhi (IANS) India’s economic growth rate is expected to remain strong, supported by macroeconomic and financial stability, according to an International Monetary Fund (IMF) assessment report released on Tuesday.

“Going forward, the country’s…

Udaan lays off over 100 employees as part of restructuring exercise

New Delhi (IANS) Homegrown B2B e-commerce platform Udaan, which raised $340 million last week, laid off more than 100 employees as part of a restructuring exercise.

A company spokesperson said that they have made significant progress in their…

RBI penalties on banks, NBFCs add up to Rs 40.39 crore for 2022-23

New Delhi (IANS) The Reserve Bank of India (RBI) has imposed penalties to the tune of Rs 40.39 crore on banks, non-banking financial companies (NBFCs) and other entities for breach of norms during 2022-23, Minister of State for Finance Bhagwat Karad…

Global smart personal audio market falls 3%, Apple leads

New Delhi (IANS) Global smart personal audio shipments fell 3 per cent (year-on-year) to 110 million units in Q3 2023, with developed regions struggling while emerging regions grew strongly.

According to Canalys report, TWS made up 73 per cent…

Bengal's revenue behind national average: RBI study

Kolkata (IANS) West Bengal is behind the national average in terms of state’s own revenue or gross state domestic product (GSDP) percentage, as per the recent findings of the Reserve Bank of India (RBI) on state finances.

Both in terms of state’s…