India imports $6.2bn gold in April

New Delhi (IANS) India's gold imports in April stood at $6.2 billion on the back of strong consumer demand.

During the same period last year gold imports stood at just $2.83 million on account of the nationwide lockdown.

The surge…

GST Council to meet 1st time in 2021 on May 28 to discuss Covid relief

New Delhi (IANS) The GST Council will meet for the first time this year on May 28, through video conferencing.

The meeting coming in the backdrop of the fresh and more deadly Covid wave sweeping the country, is expected to announce a few Covid…

India to become major production hub for ACC batteries: ICEA

New Delhi (IANS) The India Cellular and Electronics Association (ICEA) has welcomed the Rs 18,100 crore Production Linked Incentive (PLI) scheme that has been approved for Advanced Chemistry Cell (ACC) battery storage in the country.

In a statement,…

Covid resurgence subdues equities, auto, metal stocks fall

Mumbai (IANS) Economic impact of Covid resurgence dented investors' sentiments during Friday's afternoon trade session.

Accordingly, both indices traded in the red.

On the sectoral front, other than FMCG all other sectors traded…

PNB, DLF, Tata Steel top bought large cap stocks by MFs in April

Mumbai (IANS) As equity-linked mutual fund schemes witnessed a decline in net inflows in April, Punjab National Bank (PNB), DLF and Tata Steel were among the top bought stocks in large cap by mutual funds.

Inflows into equity funds declined…

Indian PC market surges to 3.1M units in Q1 2021: IDC

New Delhi (IANS) Riding on remote work and learning as the pandemic continues in India, the traditional PC market (inclusive of desktops, notebooks and workstations) continued its growth streak with shipments growing 73.1 per cent year-over-year (YoY)…

CAIT asks Piyush Goyal to stop delivery of non-essential items by e-commerce cos

New Delhi (IANS) The Confederation of All India Traders (CAIT) in a communication sent to Union Commerce Minister Piyush Goyal has said that going one step further, various e-commerce entities even in the ongoing COVID-19 induced national emergency…

Jindal Stainless gets first major credit re-rating uplift

New Delhi (IANS) In the first-ever such development, Crisil Ratings has assigned 'CRISIL A+/Stable' rating to the long-term credit facilities of Jindal Stainless Ltd (JSL).

Short-term credit facilities of JSL have been rated 'CRISIL…

UN forecasts India's economy to grow 7.5% in 2021, but warns situation 'fragile'

United Nations (IANS) The UN forecasts India's economy to grow by 7.5 per cent this calendar year and rebound to 10.5 per cent next year with the caveat that the outlook is "highly fragile" because of the brutal Covid-19 second wave.

The…

India's flexible space segment to grow at 10-15% annually for next 3 years

New Delhi (IANS) The co-working or flexible space segment in India is likely to grow at the rate of 10-15 per cent annually for the next three years, according to a CBRE report.

Currently, the flexible space in the country accounts for 36 million…