ADIA invests `5,683.5 cr in Jio Platforms
Abu Dhabi Investment Authority (ADIA) has invested Rs 5,683.50 crore in Jio Platforms, the digital arm of Reliance Industries (RIL). The latest investment — eighth in the series — values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into […]
Petrol, diesel prices increase by 60 paisa across India
New Delhi: Petrol and diesel price was on Sunday hiked by 60 paisa per litre, as the state-owned oil firms restarted daily price revisions after a 82-day hiatus. Petrol price in Delhi was hiked to Rs 71.86 per litre from Rs 71.26 a litre till Saturday, while diesel rates were increased to Rs 69.99 per litre […]
Sovereign Gold Bond to open on Monday, issue price fixed at Rs 4,677/gm
The third instalment of the Sovereign Gold Bond (SGB) scheme, issued by the Reserve Bank of India (RBI) on behalf of the government, will open for subscription for five days from Monday, June 8. The Sovereign Gold Bond Scheme 2020-21 Series III will be opened for subscription for June 8 to June 12. Sovereign Gold […]
Herbal drugs to rice & dal, ‘swadeshi’ Patanjali goes online to take on Amazon, Flipkart
The company launched the website on a pilot basis on 15 May, but the commercial roll out is expected within this month. Acharya Balkrishna, CEO of Patanjali Ayurveda, told ThePrint the website will be the first e-commerce firm in India to be available in 12 local languages, including Hindi, Sanskrit, Gujarati, Tamil, Punjabi and Marathi. “We have […]
Markets ignore Moody’s downgrade, Sensex rises 3,200 pts in 6 sessions
Stock markets on Tuesday ignored the rating downgrade by Moody’s and rallied 1.57 per cent even as Prime Minister Narendra Modi maintained that the country will get back its economic growth and pledged to undertake more structural reforms. With the global markets also making strong gains on the back of easing of lockdown curbs, the Sensex rose […]
Five Indian states are leading economy to recovery from lockdown
Five Indian states contributing nearly 27% of the country’s gross domestic product are leading a recovery in the economy as it slowly emerges from the world’s biggest lockdown, a study by Elara Securities Inc. shows. Kerala, Punjab, Tamil Nadu, Haryana and Karnataka have seen a pickup in activity, based on an analysis of indicators such […]
Moody’s downgrades India’s sovereign rating, maintains negative outlook
Moody’s Investors Service on Monday downgraded India’s sovereign rating to ‘Baa3’ from ‘Baa2’, saying there will be challenges in implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position. “Moody’s has today downgraded the Government of India’s foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2. “Moody’s […]
ExplainSpeaking: Why India’s GDP growth rate is being labelled an overestimate yet again
Dear Readers, When you get the chills and feel feverish, do you immediately reach for your thermometer and break it — lest it may tell you how bad your fever is and how fast it is rising? I suspect not, because you know the thermometer will just map your true body temperature — not raise […]
Rupee settles 14 paise higher at 75.62 against US dollar
The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors are awaiting the country’s gross domestic product data for the January-March quarter, due later in the day, for further cues. The rupee opened at […]
Ecommerce Portal brings smile on the faces of shoppers as it delivers essentials at their doorsteps
Amid ongoing corona virus and the extension of lock down in UT of Jammu & Kashmir, one of the biggest issues among people is where and how to buy the grocery and other essential items? As due to the surge in demand the stores are either going empty or opening for a few hours only. […]
