Sensex springs up 123 pts on monsoon forecast
Mumbai: Equities jumped for a second straight session on Tuesday, led by gains in auto stocks on forecast of an ''above normal'' rains this year, following back-to-back monsoon failures, while domestic investors and foreign funds increased buying ahead of key macroeconomic data due later in the day.
India to notch up to 7.5 pc growth in 2016-17: IMF
Washington:Driven by consumption & increased industrial activity, India's growth is projected to notch up to 7.5 % in 2016-17, overtaking China''s GDP by more than 1 %, the IMF said today.
Rupee continues upward march, ends at 66.43
Mumbai: The rupee today ended marginally higher by one paisa to close at 66.43 against the American currency and continued its upward march for the third day today on selling of dollars by banks and exporters in view of sustained foreign capital inflows.
India's exports may settle at $250-260 bn in '15-16
New Delhi: India''s exports are estimated to throw up a conservative figure of USD 250-260 billion for the last financial year due to global demand slowdown, a top government official said today.
Axis Bank lowers lending rate by 15 bps to 8.95%
Mumbai: Axis Bank, the third largest private sector lender, today announced a cut in its lending rate by 0.15 per cent to bring it at par with its larger rivals.
Shopping top reason for Indians to access internet: Survey
Mumbai: Indians voted online shopping as the top reason to access internet, spending an average of about Rs 9,400 a month on e-purchases, followed by social networking, according to a survey.
Jewellery stocks shine bright as most jewellers reopen shops
Mumbai: Jewellery stocks rose as much as 11 per cent, buoyed by reports that a large section of jewellers and bullion traders across the country opened their shops today after almost six weeks.
Govt sees better agri output this yr on hopes of good monsoon
New Delhi: The country''s farm production is likely to be better in 2016-17 with forecast of above normal monsoon after two consecutive years of drought, Agriculture Minister Radha Mohan Singh said today.
India to notch up to 7.5 pc growth in 2016?17: IMF
From Lalit K Jha Washington, Apr 12 (PTI) Driven by private consumption and increased industrial activity, India''s growth is projected to notch up to 7.5 per cent in 2016 17, overtaking China''s GDP by more than 1 per cent, the IMF said on Tuesday.
Factory output grows 2 pc in Feb after 3 months of contraction
New Delhi: Industrial production grew 2 per cent year on year in February after staying negative for the last 3 months on better performance of mining, power and consumer goods, a proof that economic recovery is holding up.
Retail inflation hits 6-mth low of 4.83% in March
New Delhi: Retail inflation in March fell to a six-month low of 4.83 per cent on account of cheaper food articles such as vegetables and pulses.
Enough capacity to make up for hydro power shortfall: Goyal
New Delhi: India has enough thermal and gas based power generation capacities to make up for shortage due to lower hydro power output in view of water scarcity in the country, Power Minister Piyush Goyal said today.
Gwadar port to be fully operational by 2016 end
Karachi: The multi-million dollar Gwadar port being developed by Pakistan and China on southwest coast in the troubled Balochistan province will be fully operational by the end of 2016, a Chinese official said on Tuesday.
Rupee continues upward march, ends at 66.43
Mumbai: The rupee on Tuesday ended marginally higher by one paisa to close at 66.43 against the American currency and continued its upward march for the third day today on selling of dollars by banks and exporters in view of sustained foreign capital inflows.
Global economy to grow at 3.2 per cent in 2016: IMF
From Lalit K Jha Washington, Apr 12 (PTI) The global economy will grow at 3.2 per cent in 2016 and 3.5 per cent in 2017, the IMF forecast today in a downward revision of its previous estimates and sought an immediate and proactive response to the diminished outlook.
Gold tops Rs 29k-mark, silver strengthens on global cues
Mumbai: Gold prices strengthened further and reclaimed the INR 29,000-mark at the domestic bullion market here on Tuesday following firm demand from stockists amid positive global cues.
Bloomberg, Bahl launch JV for news channel, portal
Mumbai: Bloomberg Media today announced formation of BloombergQuint, a joint venture with digital news company Quintillion Media founded by former managing director of Network18 Raghav Bahl.
Cab war intensifies: Ola, Uber zip into non-metros for lead
New Delhi: Intensifying competition in India's taxi aggregation space, Ola today announced expansion of its low-cost 'Micro' service to non-metros like Ajmer, Udaipur and Nagpur, while rival Uber slashed fares in these cities.
India's export to stay weak in FY17: Ind-Ra
Mumbai: Country''s export is likely to stay weak this fiscal as global economies struggle to stabilise, India Ratings and Research said today.
"Excise duty is an assassination bid on small traders"
Mumbai: Rahul Mumbai, Apr 12 (PTI) Congress Vice President Rahul Gandhi on Tuesday alleged that Budget proposal to impose 1 per cent excise duty on non-silver jewellery, is an "assassination attempt" on small traders and workers, who he claimed were being "crushed" by the Centre.
PM to launch online agri-market platform on April 14
New Delhi: Prime Minister Narendra Modi will launch this week an online national agricultural products market platform that will integrate 585 wholesale markets across India.
Chinese firms keen to invest in India's high-speed rail
From K J M Varma Beijing, Apr 12 (PTI) Chinese investors are keen to invest in India, especially in the country''s high-speed railway network, business leaders attending an India-China corporate dialogue held in China''s central Hunan province said.
Urea's neem coating will curb diversion: Ananth Kr
New Delhi: The neem coating of urea will curb its diversion for the non-agriculture purposes and also help reduce its consumption, Fertilsier Minister Ananth Kumar said today.
Ford India opens tech training facility at Manesar
New Delhi: Auto maker Ford India today opened a technical training facility in the northern region at Manesar to create a pool of trained and talented technicians.
"Mobile E-KYC norms to be in place within a month"
New Delhi: The Department of Telecom plans to issue e-KYC norms within a month which would help in activating mobile phone connections in a few minutes.
India offers stakes to UAE in petro projects
Dubai: India has offered UAE stakes in petrochemical plants and refinery projects as it seeks to boost energy ties with the cash-rich Gulf nation.
"Airtel's purchase of Aircel spectrum credit positive"
New Delhi: Bharti Airtel''s acquisition of telecom spectrum in eight circles from Aircel for Rs 3,500 crore is ''credit positive'' as it would extend the firm''s footprint to make it a pan-India 4G operator, Moody''s Investors Service said today.
16-yr-old Indian-US invents low-cost hearing aid
From Seema Hakhu Kachru Houston, Apr 12 (PTI) A 16-year-old Indian-American boy has created a low-cost hearing aid costing USD 60 to help those who cannot afford expensive devices.
Uber slashes fares in 10 non-metros by up to 22%
New Delhi: Taxi aggregator Uber has cut fares by up to 22 per cent in 10 non-metro cities including Pune and Ahmedabad, a move that will intensify competition with domestic rival, Ola.
Sensex up 57 pts in early trade ahead of macro data
Mumbai: Benchmark BSE Sensex rose over 57 pts in early trade on buying by domestic investors and foreign funds ahead of IIP and inflation data scheduled to be released later.
"India has potential to grow between 8 to 10 per cent"
From Lalit K Jha Washington, Apr 12 (PTI) India''s economy has the potential to grow between eight to 10 per cent if the country continues the pace of reforms, Chief Economic Adviser (CEA) Arvind Subramanian has said.
Rupee gains 5 paise against dollar in early trade
Mumbai: Rupee edged up by 5 paise to 66.39 against dollar in the early trade at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.