Bulk drug imports from China to stay at alarming 65%

New Delhi (IANS) The contribution of bulk drug imports from China has increased in terms of value and volume from 64 per cent and 62 dper centuring FY14 to 71 per cent and 75 per cent during FY23, respectively, CareEdge Ratings said.

In terms…

Rupee under pressure as stock markets selloff

New Delhi (IANS) Rupee weakness continued further below 82.75 down by another 18 paisa as dollar index rising above 102.50 kept added pressure on rupee fall as risky assets showed sell off, says Jateen Trivedi, VP Research Analyst at LKP Securities.

Government likely to come out with draft e-commerce policy soon

New Delhi (IANS) The government is likely to come out with the draft of the much awaited e-commerce policy soon.

The prospects of the policy being unveiled soon looked brighter as Commerce Minister Piyush Goyal on Wednesday held final round…

Interglobe Aviation Q1 net at Rs 3,087 crore, to invest in startups

Chennai (IANS) Interglobe Aviation Ltd, which owns Indigo Airlines, on Wednesday announced that it will be floating a Limited Liability Partnership to invest in startups.

The company also said it closed the first quarter of 2023-24 with a net…

Excess IT spend is likely reversing leading to demand weakness

New Delhi (IANS) Aggregate incremental revenues (QoQ) of top-5 IT Services players declined in 1QFY24 by USD 68mn, a first since 1QFY20, a report by JM Financial Institutional Securities said.

Adjusting for higher working days (+3% QoQ), the…

India, Canada likely to sign FTA soon

Toronto (IANS) India and Canada are likely to sign a Free Trade Agreement (FTA) soon.

Although the two countries have held multiple rounds of talks for a Comprehensive Economic Partnership Agreement (CEPA) since 2010, the prospects brightened…

Hero Motocorp stock slumps after ED searches at Pawan Munjal’s residence

New Delhi (IANS) Hero Motocorp share price slumped more than 4 per cent after the Enforcement Directorate carried out searches at the residence of company Chairman Pawan Munjal.

Hero Motocorp share was trading at Rs 3,066, down 4.3 per cent…

Market rally is stretching valuations beyond comfort levels, say analysts

New Delhi (IANS) The Sensex is now trading at 25 times trailing one-year earnings. It is important to note that the rally is driven by PE expansion, not commensurate earnings growth, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial…

Foxconn to set up mobile component facility in TN investing Rs 1,600cr

Chennai (IANS) Taiwanese electronics major Hon Hai Technology Group or Foxconn will be setting up a mobile phone component manufacturing facility in Tamil Nadu's Kancheepuram district at an outlay of Rs 1,600 crore.

An agreement to this…

RBI won't revise repo rate, decision to be unanimous: Economists

Chennai (IANS) Despite food inflation and existence of continued geo-political and climate risks, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will not change the interest rate from the current 6.5 per cent, economists have saif.