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IndiaTV Business: Google News Feed: Digest for June 03, 2024

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Stock markets update: Equity benchmark indices declined on second consecutive days in early trade on Thursday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 183.39 points to 74,319.51. Meanwhile, the Nifty declined 58.90 points to 22,645.80.  
S&P Global Ratings has upgraded India's sovereign rating outlook to 'positive' from 'stable', while maintaining the rating at 'BBB-'. Notably, the 'BBB' ratings indicate that expectations of default risk are currently low. The agency cited India's robust economic expansion as a key factor positively influencing its credit metrics. This development coincides with the final stages of India's extensive Lok Sabha elections, which have spanned six weeks, making it the largest democratic exercise in the world.
Benchmark equity indices Sensex and Nifty continued their downward trajectory on Thursday, marking a fifth consecutive day of declines. The downturn was driven by profit booking amid the monthly expiry in the derivatives segment. The 30-share BSE Sensex plunged by 617.30 points, or 0.83%, to settle at 73,885.60. During the day, it hit a low of 73,668.73 due to heavy selling in blue-chip stocks. Similarly, the NSE Nifty dropped by 216.05 points, or 0.95%, closing at 22,488.65.
S&P Global Ratings has upgraded India's credit rating outlook from stable to positive, citing policy stability, economic reforms, and high infrastructure investment as key factors driving sustained long-term growth prospects. The sovereign rating remains at 'BBB-', the lowest investment grade.
TIME magazine has unveiled its coveted list of 100 World's Most Influential Companies for 2024, featuring India's corporate powerhouses Reliance Industries and Tata Group, along with Serum Institute. Reliance Industries, headed by Mukesh Ambani, earned its spot for the second time, with TIME hailing it as 'India's Juggernaut'. The conglomerate's subsidiary, Jio Platforms, was previously honored in TIME's inaugural 100 Most Influential Companies List of 2021.
Equity benchmark indices rebounded in early trade on Friday (May 31), after witnessing a decline for the last five days, amid a rally in Asian markets along with buying in index majors Larsen & Toubro and Mahindra & Mahindra. The 30-share BSE Sensex climbed 550.22 points to 74,435.82 in early trade. The NSE Nifty went up by 147.15 points to 22,635.80. In the five days of fall, the BSE benchmark tanked 1,532 points or 2 per cent.
The Reserve Bank of India has moved around 100 tonnes of gold ( 1 lakh kilograms) from the United Kingdom to its vaults in India, and is mulling to continue to do so in the coming months, a TOI report claimed on Friday.
India's Gross Domestic Product (GDP) demonstrated robust growth in the January–March 2024 quarter (Q4 FY24), exceeding analysts' expectations, as per the latest official data released on Friday, May 31. The GDP expanded by 7.8 percent year-on-year during this period, compared to the 6.2 percent growth recorded a year ago.
Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Infrastructure Limited, launched a critical awareness campaign on Wednesday in the Rangpuri Pahari area aiming at educating the local community about the dangers of wildlife strikes, particularly bird strikes, which pose significant risks to aviation safety. This campaign is part of DIAL's ongoing efforts to enhance safety measures around the airfield.
In a latest development, India's gross GST collections rose to Rs 1.73 lakh crore in May, registering a 10 per cent year-on-year growth driven by augmented revenues from domestic transactions, the finance ministry stated on Saturday.
S&P Global Ratings has upgraded India's credit rating outlook from stable to positive, citing policy stability, economic reforms, and high infrastructure investment as key factors driving sustained long-term growth prospects. The sovereign rating remains at 'BBB-', the lowest investment grade.
TIME magazine has unveiled its coveted list of 100 World's Most Influential Companies for 2024, featuring India's corporate powerhouses Reliance Industries and Tata Group, along with Serum Institute. Reliance Industries, headed by Mukesh Ambani, earned its spot for the second time, with TIME hailing it as 'India's Juggernaut'. The conglomerate's subsidiary, Jio Platforms, was previously honored in TIME's inaugural 100 Most Influential Companies List of 2021.
Equity benchmark indices rebounded in early trade on Friday (May 31), after witnessing a decline for the last five days, amid a rally in Asian markets along with buying in index majors Larsen & Toubro and Mahindra & Mahindra. The 30-share BSE Sensex climbed 550.22 points to 74,435.82 in early trade. The NSE Nifty went up by 147.15 points to 22,635.80. In the five days of fall, the BSE benchmark tanked 1,532 points or 2 per cent.
The Reserve Bank of India has moved around 100 tonnes of gold ( 1 lakh kilograms) from the United Kingdom to its vaults in India, and is mulling to continue to do so in the coming months, a TOI report claimed on Friday.
India's Gross Domestic Product (GDP) demonstrated robust growth in the January–March 2024 quarter (Q4 FY24), exceeding analysts' expectations, as per the latest official data released on Friday, May 31. The GDP expanded by 7.8 percent year-on-year during this period, compared to the 6.2 percent growth recorded a year ago.
Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Infrastructure Limited, launched a critical awareness campaign on Wednesday in the Rangpuri Pahari area aiming at educating the local community about the dangers of wildlife strikes, particularly bird strikes, which pose significant risks to aviation safety. This campaign is part of DIAL's ongoing efforts to enhance safety measures around the airfield.
In a latest development, India's gross GST collections rose to Rs 1.73 lakh crore in May, registering a 10 per cent year-on-year growth driven by augmented revenues from domestic transactions, the finance ministry stated on Saturday.
New Delhi: In a remarkable feat, GMR Airport Infrastructure Limited-led Delhi International Airport Limited (DIAL), has achieved a reduction in electricity consumption per passenger by 57 per cent since 2010 – towards its target to become a net zero emission airport by 2030. Through the implementation of various green initiatives, DIAL has successfully brought down electricity consumption per passenger from 5.18 kWh to 2.21 kWh in 2023.
Motorists using expressways will have to shell out more from Monday (June 3) as the National Highways Authority of India (NHAI) has decided to hike tolls across the country by an average of 5 per cent.
Ahead of the Lok Sabha election results, the Gujarat Milk Marketing Federation (GCMMF) has announced an increase in the price of Amul milk by Rs 2 per liter, effective from Monday (June 3).
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