Category: BUSINESS

Terming the pandemic-impacted April-June 2020 quarter as “the darkest hour of the fiscal”, the country’s leading player in suiting and shirting Raymond said a recovery in the segment would take a “mid-term time frame” when life is back to normalcy, primarily driven by occasion- and celebration-led dressing along with ongoing vaccination. Demand for clothing, which is a non-essential item, with discretionary spending has been impacted, said Raymonds in its latest annual report while talking about branded textiles, its flagship business. It expects “modest growth” in the fabric business with increasing…

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Quarterly earnings from IT majors Infosys and Wipro, macroeconomic data announcements and global cues would be the major drivers for the equity markets this week, said analysts. Leading IT companies Infosys and Wipro and other players such as Mindtree, Tata Elxsi and HDFC AMC would announce their financial results this week. Moreover, industrial production numbers, retail and wholesale inflation data would be released this week. “This week, markets would take cues from earnings announcements and macroeconomic data ie IIP, CPI inflation and WPI inflation. Besides, global cues, monsoon progress and…

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Leading milk supplier Mother Dairy has increased milk prices in Delhi-NCR and other cities by Rs 2 per litre with effect from Sunday due to higher input costs. It had last raised the milk prices in December 2019. From July 1, Amul had hiked its milk prices by Rs 2 per litre. Mother Dairy said it is “compelled to raise its liquid milk prices by Rs 2/litre in Delhi-NCR with effect from July 11, 2021.” The new prices will be applicable for all milk variants. “The company has been experiencing…

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Stressing on the need for localisation of Sustainable Development Goals (SDGs) to achieve the 2030 SDG agenda, India has said that there is no “one size fits all” approach but countries can certainly share experience and learn from each other. Speaking at the High Level Political Forum (HLPF) on “How can localisation of SDGs contribute to Leaving no one behind? , India’s Permanent Representative to the United Nations Ambassador T.S. Tirumurti said that due to the localisation efforts, the path to implement the 2030 Agenda will be relatively smooth even…

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The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors — a vast majority of them first-timers — coupled with a flood of liquidity. Foreign funds alone had pumped in a record USD…

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The rupee weakened by 7 paise to end at 74.62 against the US currency on Wednesday as a stronger dollar and rising crude oil prices weighed on the investor sentiment. The rupee traded in a narrow range ahead of the release of the minutes of US Federal Open Market Committee meeting later in the day, forex dealers said. At the interbank foreign exchange market, the rupee opened at 74.60 per dollar. It hovered in a range of 74.59 to 74.79 during the day before ending at 74.62 against the greenback.…

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India’s services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms. The pace of contraction was sharp and…

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The Indian Rupee depreciated 20 paise to 74.75 against the US dollar in opening trade on Friday as firm American currency and rising crude oil prices weighed on investor sentiment. At the interbank foreign exchange, the rupee opened at 74.71 against the dollar, then fell further to 74.75, registering a fall of 20 paise over its previous close. On Thursday, the rupee had settled at 74.55 against the US dollar. The Indian rupee started on a weaker note this Friday against the greenback tracking the strength of the greenback and…

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 Prime Minister Narendra Modi on Thursday said the combination of nation’s demographic dividend and data, with proven tech prowess presents immense opportunities as he exuded confidence the decade will be ‘India’s techade’. Speaking at a virtual event to mark the completion of six years of Digital India, Modi said India is fully conscious of its responsibilities as a data powerhouse and noted that work was underway on all aspects of data protection. Data and demographic dividend present a massive opportunity for India… together, we will be successful in making this…

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Mamata Banerjee said with this credit card, a student who has lived in Bengal for 10 years, will be eligible to take an educational loan for higher studies in India or abroad. Bengal Chief Minister Mamata Banerjee announced the launch of a credit card for students with a limit of ₹ 10 lakh today, meeting one of her key pre-election promises. A student — aged upto 40 — who has lived in Bengal for 10 years will be eligible for the card, which can be used to get a loan for higher…

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