Moody's retains India's sovereign credit ratings

Mumbai (IANS) The impact of the Russia-Ukraine conflict, higher inflation and tightening global financial conditions on the back of policy tightening, is unlikely to derail India's ongoing recovery from the pandemic in 2022 and 2023, Moody's…

HAL-L&T consortium bags Rs 860 crore contract for PSLV

Bengaluru (IANS) HAL-L&T consortium has bagged Rs 860 crore contract for end-to-end realisation of five Polar Satellite Launch Vehicles (PSLV) over a period of four years from the NewsSpace India Limited (NSIL).

The contract was exchanged on…

SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds

Mumbai (IANS) State Bank of India (SBI) plans to raise up to Rs 7,000 crore, which includes Rs 5,000 crore in greenshoe through Basel-III Additional Tier-I bonds, market participants said.

Bidding for the bonds will take place on Wednesday…

ED raids at independent merchants, frozen funds don't belong to company: Paytm

New Delhi (IANS) Fintech major Paytm on Sunday said that the search operations by the Enforcement Directorate (ED) at six different locations in Bengaluru were carried out on merchants which were independent entities, and none of them were Paytm's…

Reliance Retail begins appointing super-stockists to distribute its private label products in multiple FMCG categories

New Delhi (IANS) Reliance Retail (RR) has begun appointing super-stockists to distribute its private label products in multiple FMCG categories, Kotak Securities said in a report.

Reliance Retail already has a wide range of private labels across…

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,…

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…

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…