RBI rate hike a surprise as it came between 2 review meetings: Sitharaman

New Delhi (IANS) The Reserve Bank of India's (RBI) move to raise the policy rate is part of a synchronised action by the central banks, Union Finance Minister Nirmala Sitharaman has said, adding that it came as a surprise only because it was done…

Reliance FY22 revenue up 47%, net profit up 26%, announces Rs 8 dividend

New Delhi (IANS) Reliance Industries' annual consolidated revenue for FY22 stood at Rs 792,756 crore ($104.6 billion), up 47 per cent year on year.

The company's annual profit after tax neared the $10 billion mark, as it stood at Rs…

Equity benchmarks close week in red on weak global cues

New Delhi (IANS) Continuing with the opening session losses, Indian equity benchmarks settled sharply lower on Friday, in line with the weakness in global markets.

Asian stocks fell over concerns that the US central bank and some other major…

Stock markets in Asia, US tumble after biggest interest rate hike in 22 yrs

London (IANS) Stock markets in Asia and America have tumbled after the US Federal Reserve this week announced the biggest interest rate hike in 22 years.

The sell-off comes as worries intensified over how rising prices, and the Federal Reserve's…

'Indian plastic exports to grow to $25 billion by 2025'

New Delhi (IANS) Indian exports of plastics in 2019-20 were at $10 billion, and are expected to reach $25 billion by 2025, Plastindia Foundation President, Jigish Doshi said on Wednesday.

"The current business environment, bolstered by the…

RBI hikes repo rate by 40 bps on inflation worries, equities plunge

New Delhi (IANS) Reserve Bank of India Governor Shaktikanta Das on Wednesday said that the Monetary Policy Committee (MPC) of the central bank, in an off-cycle meeting, hiked the repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.

Healthcare automation firm Element5 raises $30 mn, to hire more in India

Chennai (IANS) US and Chennai-based automation service provider Element5 on Tuesday said it has raised $30 million in its Series B round led by Insight Partners, and it will use the money to boost the delivery of its post-acute healthcare solutions…

Network18 Q4 net profit up 58% YoY at Rs 61 cr; TV18's down 13%

New Delhi (IANS) Network18 Media & Investments on Tuesday reported 58.1 per cent year-on-year surge in its consolidated net profit to over Rs 61 crore during Q4FY22.

The media company reported a 14.6 per cent year-on-year rise in consolidated…

Govt-owned insurers goes for organisational rejig, calls for consultants

Chennai (IANS) Is the central government moving towards merging its four general insurance companies into one?

The question pops up as the four general insurers have decided to restructure the organisation towards profitable growth and have…

KVIC sole FMCG to post Rs 1.15 lakh cr turnover

New Delhi (IANS) The Khadi and Village Industries Commission (KVIC) has clocked a massive turnover of Rs 1.15 lakh crore, which is unprecedented for any FMCG company in the country.

This makes KVIC the only company in the country to record…