The Reserve Bank of India (RBI) cut its policy interest rate by a quarter percentage point on Tuesday, easing policy for a third time this year, in a move that was widely expected as policymakers try to put the improving economy on a firmer footing.
Power generation machinery maker BHEL has bagged its largest order amounting to Rs 17,950 crore from Telangana State Power Generation Corp (TSGENCO) to set up a 4,000 MW plant at Yadadri.
Reserve Bank governor Raghuram Rajan on Tuesday nudged banks again to do more on lending rate cuts, pointing out that one percentage point deposit rate cuts in recent times have been wider than those for credit.
The BSE Sensex and Nifty lost over 2% on Tuesday and the benchmark 10-year bond yield jumped as a forecast for weak monsoon rains raised doubts over whether the central bank could follow up Tuesday's interest rate cut with another this year.
The rupee is marginally up by 4 paise at 63.66 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.
The government will soon initiate a new scheme to have a network of academic and scientific institutions to inculcate innovation in young minds and to fund start ups across India.
Over the recent GDP figures highlighting a 7.1% increase in manufacturing activity in 2014-15, the output of eight core industries contracted by 0.4%.
The HSBC India Purchasing Managers’ Index (PMI) jumped to a four-month high in May.
Former Telecom Minister A Raja had “illegally” granted 2G spectrum licences to ineligible firms, says a statement by the Enforcement Directorate (ED).
The recent volatality in the stock market gives the investor the benefits of growth of equity and relative stability of debt.
Japanese investors demanded for better infrastructural facilities and expressed concern over currency fluctuations.
The airline-operator is on serious cost-cutting measures to contain areas like sales and distribution, engineering and maintenance. It is also restructuring its overseas hub at Abu Dhabi.
Intel will pay $54 per share in cash for Altera, which designs processors for phone networks, cars and other devices.
Pawan Munjal took over as the chairman of the Hero Moto Corp while his father Brijmohan Lall Munjal stepped down.
KFC is demanding 1.5 million yuan ($242,000) and an apology from three Chinese companies that circulated fake rumours about their food.