More From Economy

Economy on revival! 4, 2 wheeler sale rise in December

Passenger vehicle wholesales in India increased 13.59 per cent to 2,52,998 units last month on a very low sales base of December 2019, auto industry body SIAM said on Thursday. Passenger vehicle sales in December 2019 stood at 2,22,728 units.

Sitharaman to present Union Budget on Feb 1 as next Parliament session begins Jan 29

The Budget session of Parliament will commence from January 29, with Union Finance Minister Nirmala Sitharaman set to present the Union Budget on February 1. The session will be held in two parts -- from January 29 to February 15 and March 8 to April 8.

Indigo Paints IPO to open on January 20, price band set at Rs 1,488-1,490

The three-day initial public offering (IPO) will conclude on January 22. The anchor investors' portion will be open for subscription on January 19, Indigo Paints said in a virtual press conference.

WPI inflation eases to 1.22 per cent in December

Fuel Rates Burn Hole in Pocket! Petrol, diesel prices hiked again, scale new highs

Across the country as well pump price of petrol and diesel increased on Wednesday but the quantum varied depending on the prevailing tax structure in each state.

Sensex drops over 150 points in early trade; Nifty tests 14,500

Equity benchmark Sensex dropped over 150 points in early trade on Thursday led by heavy selling in index-heavyweights Infosys, HCL Tech and Asian Paints. 

Bengaluru world’s fastest growing tech hub; London 2nd, Mumbai in 6th spot

Bengaluru has emerged as the world’s fastest-growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris.

India's GDP to expand by 11% in 2021-22 after falling by 9.4%: Fitch

Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support.

Tesla coming to India 'as promised': Elon Musk

Breaking his silence after the news broke that Tesla has finally entered India by registering it as a company in Bengaluru, its CEO Elon Musk said on Wednesday that he is on the way to fulfil his promise to let electric cars run on the roads of the country.  

Inox opens 3 new multiplexes, adds 11 new screens, one new city

Multiplex operator Inox Leisures on Wednesday opened three new multiplexes, taking its total count to 150. The Gujarat-based firm has opened two multiplexes in Gurugram having four screens each, and one at Salem (Tamil Nadu) with 3 screens, the company said in a regulatory filing.

Infosys to acquire assets, onboard employees of Australia's Carter Digital

​IT services major Infosys on Wednesday said it will purchase assets and onboard employees of Carter Digital, an Australian experience design agency. 

BYJU'S to acquire Aakash Educational Services for Rs 7,300 crore

​Leading edtech company BYJU'S is reportedly acquiring Delhi-based offline test preparatory services provider Aakash Educational Services for $ one billion (nearly Rs 7,300 crore), the media reported.  

RBI sets up panel to suggest measures for promoting digital lending

The RBI said that the recent spurt and popularity of online lending platforms/mobile lending apps has raised certain serious concerns which have wider systemic implications.

Mercedes Benz India posts 43% decline in sales at 7,893 units in 2020

German auto major Mercedes Benz on Wednesday reported 43 per cent decline in sales at 7,893 units in India in 2020, impacted by the coronavirus pandemic, which had led to the temporary shutdown of business but maintained its leadership position in the luxury car segment.  

Crackdown on corruption! Govt's big move against tax evasion, benami property. How to file complaint

The Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website of the department to receive and process complaints of tax evasion, foreign undisclosed assets as well as grievances regarding benami properties.

Gold Price Today: Gold declines Rs 108, silver gains Rs 144  

Gold prices fell Rs 108 to Rs 48,877 per 10 gram in the national capital on Wednesday as rupee appreciation capped upside in the price of the precious metal, according to HDFC Securities. 

Wipro posts 21% increase in net profit at Rs 2,968 crore

IT services major Wipro on Wednesday posted an about 21 per cent increase in consolidated net profit at Rs 2,968 crore for the December 2020 quarter.

RBI unlikely to cut interest rates despite dip in December retail inflation: Report

The Reserve Bank of India (RBI) is unlikely to further ease the interest rates in the next meeting of its Monetary Policy Committee even though retail inflation declined in December 2020, a report by Motilal Oswal Institutional Equities said.  

Sensex ends lower after choppy trade; M&M soars 6 per cent

Retreating from its record peak, equity benchmark Sensex ended 25 points lower after a volatile session on Wednesday as investors booked profits amid mixed cues from global markets. 

Indian Railway Finance Corporation's Rs 4,600 crore IPO opens next week

The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), worth over Rs 4,600 crore, will open on January 18 and close on January 20. 

Fuel on fire! Petrol touches new high of Rs 84.45 in Delhi, crosses Rs 91 mark in Mumbai

Fuel prices touched a new high on Wednesday after oil marketing companies decided to break the momentary pause in the wake of a sudden spike in the global oil prices. 

Sensex jumps over 200 points to new high; Nifty tops 14,600

Equity benchmark Sensex jumped over 200 points to scale a fresh intra-day peak in early trade on Wednesday, led by gains in ICICI Bank, Bharti Airtel and Reliance Industries amid sustained foreign fund inflow.

Elon Musk's Tesla finally enters India, registers company in Bengaluru

World's leading electric car maker Tesla is setting up its research and development (R&D) centre in Bengaluru to commence its India operations soon, said Karnataka Chief Minister BS Yediyurappa on Tuesday.

Bharti Airtel gets approvals for 100% FDI in subsidiaries

Telecom major Bharti Airtel on Tuesday said that it has received required regulatory approvals for 100 per cent foreign direct investment in its downstream companies.  

RBI imposes Rs 2 crore penalty on THIS bank

The Reserve Bank on Tuesday imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits.  

Tech Mahindra to acquire Payments Technology Services for Rs 66 crore

IT services major Tech Mahindra on Tuesday said it will acquire Payments Technology Services Ltd (PTSL), a step-down subsidiary of fintech firm FIS, for USD 9 million (about Rs 66 crore).  

Retail inflation drops to 4.59 per cent in December: Govt data

Food inflation declined to 3.41 per cent in December in 2020, compared to 9.5 per cent in the previous month, according to the data released by the Ministry of Statistics and Programme Implementation.

TCS to acquire GE's stake in TCS Saudi Arabia

IT major Tata Consultancy Services (TCS) on Tuesday said it will acquire GE's stake in Tata Consultancy Services Saudi Arabia for USD 12,471 (about Rs 9.13 lakh).