India's forex reserves fall by $3 bn to $561.046 bn

Mumbai (IANS) India's foreign exchange reserves fell by $3.007 billion to $561.046 billion in the week ending August 26, according to data from the Reserve Bank of India (RBI).

The fall in the reserves was mainly attributed to fall in foreign…

Healthtech unicorn Innovaccer lays off 120 workers amid tough market conditions

New Delhi (IANS) Healthtech unicorn Innovaccer has sacked nearly 120 employees, or less than 8 per cent of its workforce, owing to "tough economic conditions", and most of the layoffs occurred within its tech teams.

The company, which last…

Rupee expected to trade in Rs 79.75-80.0/$ range in the near-term: BOB report

Mumbai (IANS) The Indian rupee is expected to trade in the range of 79.75-80.00 against the US dollar in the near term because the US Federal Reserve Chair has clearly signalled higher rates are likely to stay, the dollar index may see a further uptick,…

Centre approves provision of pulses to states at discounted rates

New Delhi (IANS) The Centre on Wednesday approved the disposal of chana (pulses) to states at discounted rates, for usage in various welfare schemes.

This provision would be done through the stock of pulses procured under Price Support Scheme…

India's GDP records double digit growth of 13.5% in Q1 2022-23

New Delhi (IANS) India's economic growth rose to 13.5 per cent in the first quarter of the current fiscal (2022-23), a huge jump from 4.1 per cent growth recorded in the final quarter of 2021-22.

This is the first double digit growth in…

Jio's capex outlay of $25bn for 5G roll out, scale up of home broadband key takeaways from RIL AGM

New Delhi (IANS) Jio's capex outlay of $25 billion for the roll out of 5G and scale up its home broadband were the two key takeaways from RIL AGM, foreign brokerage Jefferies said in a report.

Monetization of this capex will require higher…

Daily Shimla-Delhi flights from Sep 6

Shimla (IANS) Alliance Air on Tuesday announced to start a daily to-and -fro flight from Shimla to Delhi from September 6.

The flight will operate with new ATR42-600 aircraft. It will depart from Delhi at 6.25 a.m. and arrive in Shimla at 7.35…

Indices ends sharply up, Sensex up over 1,500 points

Mumbai (IANS) Benchmark indices ended sharply up on Tuesday after falling sharply on Monday due to delivery-based buying by the FIIs and short covering in the F&O market, dealers said.

At close, Sensex ended 1,564.45 points, or 2.70 per cent,…

Rupee falls to record low against US dollar

Mumbai (IANS) The Indian rupee fell sharply on Monday and touched the 80 mark against the US dollar after the Federal Reserve chair Jerome Powell's hawkish speech.

At 11 a.m., the rupee was trading at 80.04, as compared to 79.86 close on…

Financial Bids for Reliance Capital to be submitted on Monday

Mumbai (IANS) The bidders for Reliance Capital assets have to submit their financial bids by August 29 (Monday), as the final deadline for the submission of bids ends tomorrow.

The bidders will submit their final non binding indicative bids…