India’s foreign exchange reserves declined by USD 8.478 billion, reaching USD 644.391 billion for the week ending December 20. This follows a previous drop of USD 1.988 billion. The decline is attributed to revaluation and RBI interventions in the forex market. Foreign currency assets fell by USD 6.014 billion, while Special Drawing Rights and IMF […]
Dhirubhai Ambani, born on December 28, 1932, was a visionary entrepreneur and the founder of Reliance Industries. He transformed Reliance into one of India’s largest conglomerates, with interests in petrochemicals, refining and retail. Known for his best business strategies, Dhirubhai pioneered the concept of retail investors in India.
The Sensex and Nifty opened at fresh record levels in early trade today, December 28, 2024. The Sensex started trading today at 78699.07, up 226.59 points or 0.29%, and the Nifty was at 23813.40, up 63.20 points or 0.27%. Meanwhile, the Indian rupee was trading today at 85.39 against the dollar.
India is reportedly considering cutting income tax for middle-class individuals to boost consumption. A Reuters report suggests reducing taxes for those earning up to ₹15 lakh annually. Under the 2020 system, income between ₹3 lakh and ₹15 lakh is taxed at 5%-20%, with higher earnings taxed at 30%. The final decision will be made before […]
Isuzu Motors India has achieved a significant milestone by producing 1,00,000 vehicles at its Sri City facility. The milestone was marked by the rollout of a D-Max V-Cross. Since beginning operations in 2016, the company has expanded production, focusing on commercial vehicles and fostering diversity, with 22% of its workforce being women.
At least five companies that launched IPOs were listed on the stock market today. Mamata Machinery debuted at Rs. 600, reflecting a premium of 147%. Trans Rail Lighting started trading at Rs. 590, a premium of 37%. Meanwhile, Dam Capital Advisors listed at a 39% premium, Sanatan Textiles at 32%, and Concorde Enviro at 18%.
The Sensex and Nifty opened at fresh record levels in early trade today, December 27, 2024. The Sensex started trading today at 78607.62, up 135.14 points or 0.17%, and the Nifty was at 23801.40, up 51.20 points or 0.22%. Meanwhile, the Indian rupee was trading today at 85.34 against the dollar.
N Chandrasekaran, Chairman of Tata Group, announced plans to create 5 lakh jobs in the next 5 years. He highlighted the challenges posed by geopolitical and economic instability this year, which have reshaped the global macroeconomic landscape. He also emphasized that future challenges will need to be addressed effectively.
The new ₹200 note introduced by the RBI features a vibrant magenta color with images reflecting India’s heritage and culture. The front showcases the Mahatma Gandhi portrait, security features like a watermark, and the Ashoka Pillar emblem. The back features a depiction of the Mangalyaan, representing India’s space achievements.