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IndiaTV Business: Google News Feed: Digest for May 16, 2024

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Industrial production grew by 5.8 per cent in Financial Year 2024 against 5.2 per cent expansion in 2022-23, the government data said on Friday. In March, the industrial production was at 4.9 per cent against 1.9 per cent a year ago, the data added.

India's foreign exchange reserves jump USD 3.7 billion

Saturday 11 May 2024 07:00 AM UTC+00
Post three consecutive weeks of decline, India's foreign exchange reserves rose again by USD 3.668 billion to USD 641.590 billion in the week that ended on May 3 (Friday), RBI data showed. Prior to the reporting period, the country's foreign exchange reserves declined for the third week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.
Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
In a dramatic turn of events, the benchmark equity indices, Sensex and Nifty, surged on Monday, driven by late buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. After a tumultuous start, the 30-share BSE Sensex recovered from early losses to close higher by 111.66 points, or 0.15%, at 72,776.13. Initially, the index opened lower and nosedived by 798.46 points or 1.09% to touch a low of 71,866.01 during the trading session.
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
In a dramatic turn of events, the benchmark equity indices, Sensex and Nifty, surged on Monday, driven by late buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. After a tumultuous start, the 30-share BSE Sensex recovered from early losses to close higher by 111.66 points, or 0.15%, at 72,776.13. Initially, the index opened lower and nosedived by 798.46 points or 1.09% to touch a low of 71,866.01 during the trading session.
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Walmart on Tuesday (May 14) announced layoffs affecting several hundred jobs at the retail giant's campus offices. It also said that it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas, Hoboken, New Jersey, and the San Francisco Bay Area.
Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55. 
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Walmart on Tuesday (May 14) announced layoffs affecting several hundred jobs at the retail giant's campus offices. It also said that it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas, Hoboken, New Jersey, and the San Francisco Bay Area.
Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55. 
Money transfer: Credit cards can be incredibly useful in times of urgent need when funds are unavailable. However, it's crucial to use them wisely and ensure that bills are paid on time to avoid falling into debt. While credit cards offer convenience, they may not be accepted for certain transactions such as mortgages, purchasing stocks, or sending money orders. In such cases, transferring money from your credit card to your bank account provides an alternative means of accessing funds. This process allows you to utilise funds when credit card payments are not accepted.
In the latest trading session, the benchmark indices, Sensex and Nifty, experienced marginal declines. The Sensex slipped by 117.58 points, settling at 72,987.03, while the Nifty recorded a dip of 17.30 points, closing at 22,200.55. The Sensex, representing the top 30 companies listed on the Bombay Stock Exchange (BSE), witnessed a modest decline of 117.58 points, marking a marginal decrease in its value. It concluded the trading session at 72,987.03, reflecting a cautious sentiment among investors.
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Walmart on Tuesday (May 14) announced layoffs affecting several hundred jobs at the retail giant's campus offices. It also said that it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas, Hoboken, New Jersey, and the San Francisco Bay Area.
Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55. 
Money transfer: Credit cards can be incredibly useful in times of urgent need when funds are unavailable. However, it's crucial to use them wisely and ensure that bills are paid on time to avoid falling into debt. While credit cards offer convenience, they may not be accepted for certain transactions such as mortgages, purchasing stocks, or sending money orders. In such cases, transferring money from your credit card to your bank account provides an alternative means of accessing funds. This process allows you to utilise funds when credit card payments are not accepted.
In the latest trading session, the benchmark indices, Sensex and Nifty, experienced marginal declines. The Sensex slipped by 117.58 points, settling at 72,987.03, while the Nifty recorded a dip of 17.30 points, closing at 22,200.55. The Sensex, representing the top 30 companies listed on the Bombay Stock Exchange (BSE), witnessed a modest decline of 117.58 points, marking a marginal decrease in its value. It concluded the trading session at 72,987.03, reflecting a cautious sentiment among investors.
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Walmart on Tuesday (May 14) announced layoffs affecting several hundred jobs at the retail giant's campus offices. It also said that it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas, Hoboken, New Jersey, and the San Francisco Bay Area.
Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55. 
Money transfer: Credit cards can be incredibly useful in times of urgent need when funds are unavailable. However, it's crucial to use them wisely and ensure that bills are paid on time to avoid falling into debt. While credit cards offer convenience, they may not be accepted for certain transactions such as mortgages, purchasing stocks, or sending money orders. In such cases, transferring money from your credit card to your bank account provides an alternative means of accessing funds. This process allows you to utilise funds when credit card payments are not accepted.
In the latest trading session, the benchmark indices, Sensex and Nifty, experienced marginal declines. The Sensex slipped by 117.58 points, settling at 72,987.03, while the Nifty recorded a dip of 17.30 points, closing at 22,200.55. The Sensex, representing the top 30 companies listed on the Bombay Stock Exchange (BSE), witnessed a modest decline of 117.58 points, marking a marginal decrease in its value. It concluded the trading session at 72,987.03, reflecting a cautious sentiment among investors.
Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.
Retail inflation witnessed a decline, settling at 4.83 per cent in April, owing to a drop in prices of certain kitchen essentials, as per government data unveiled on Monday. The Consumer Price Index (CPI)-based retail inflation stood at 4.85 per cent in March and 4.7 per cent in April 2023. Although there was a slight uptick in food inflation, reaching 8.70 per cent in April from 8.52 per cent in March, kitchen item costs overall experienced a decrease, as reported by the National Statistical Office (NSO).
The government is set to take strict action to deal with fake reviews of products being sold on e-commerce websites/apps. The government is likely to make it mandatory for e-commerce companies to comply with quality norms for consumer reviews. The development comes after a voluntary push failed to effectively curb fake reviews.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 225.92 points to 73,002.05. Meanwhile, the Nifty declined was also up by 78.65 points to 22,182.70 points.
Wholesale inflation: India's wholesale inflation in India, based on the Wholesale Price Index (WPI), surged to 1.26 per cent in April on an annual basis, marking a notable increase from the 0.53 per cent recorded in March and reaching a 13-month high, data from the Commerce Ministry on Tuesday showed.
The Indian stock market witnessed a bullish trend on Tuesday, with the Sensex and Nifty extending their gains for the third consecutive day. Strong performances in the auto, metal, and banking sectors primarily fueled the rally. The Sensex closed 328 points higher at 73,105, while the Nifty settled at 22,218, marking an increase of 114 points.
Walmart on Tuesday (May 14) announced layoffs affecting several hundred jobs at the retail giant's campus offices. It also said that it will require most remote workers and personnel in its Dallas, Atlanta and Toronto offices to relocate to its primary offices in Bentonville, Arkansas, Hoboken, New Jersey, and the San Francisco Bay Area.
Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 138.53 points to 73,243.14. Meanwhile, the Nifty was also up by 60.7 points to 22,278.55. 
Money transfer: Credit cards can be incredibly useful in times of urgent need when funds are unavailable. However, it's crucial to use them wisely and ensure that bills are paid on time to avoid falling into debt. While credit cards offer convenience, they may not be accepted for certain transactions such as mortgages, purchasing stocks, or sending money orders. In such cases, transferring money from your credit card to your bank account provides an alternative means of accessing funds. This process allows you to utilise funds when credit card payments are not accepted.
In the latest trading session, the benchmark indices, Sensex and Nifty, experienced marginal declines. The Sensex slipped by 117.58 points, settling at 72,987.03, while the Nifty recorded a dip of 17.30 points, closing at 22,200.55. The Sensex, representing the top 30 companies listed on the Bombay Stock Exchange (BSE), witnessed a modest decline of 117.58 points, marking a marginal decrease in its value. It concluded the trading session at 72,987.03, reflecting a cautious sentiment among investors.
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