Economists are increasingly optimistic about global growth prospects for this year and next, according to a Reuters poll, though they still view higher inflation as a significant risk. Central banks have successfully managed rising inflation through rapid rate hikes, but a resilient global economy with strong employment and wage growth continues to present inflationary risks.
"According to a study conducted by IIM Ahmedabad, there may exist potential of exporting 15 MT to the...neighbouring countries," the coal ministry said in a statement.
India's refining capacity is set to grow by about 20% to 309.5 million metric tons by 2028 to address increasing fuel demand, said the junior petroleum minister. The existing capacity is around 5.14 million bpd. Strategic petroleum reserves would cover 9.5 days of crude oil needs, and new storage facilities have been approved in Odisha and Karnataka.
The Defence Ministry approved procurement of a navigation system for the Indian Army's armoured fighting vehicles and 22 interceptor boats for the Coast Guard. These acquisition proposals were cleared by the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Monday.
In Monday's trading session, five stocks saw short covering.
The NSE Nifty index closed 1.25 points up at 24836.1
Global Capability Centres (GCCs) in India, vital for IT, R&D, and business outsourcing, face rising costs due to geopolitical issues and inflation. AI-powered hyperautomation offers solutions by streamlining operations, empowering employees, and fostering innovation through Centres of Excellence (CoE). This technology enhances efficiency, reduces costs, and ensures business resilience, positioning GCCs for future growth and success.
As Nifty almost hit the 25k milestone on Monday, Zerodha founder Nithin Kamath recalled that the index stood at just 4,500 level when he started the discount broking platform.
The state-owned fuel retailer had reported a net profit of Rs 6,203.9 crore in the corresponding quarter of the last financial year. Sequentially, PAT fell by 88%, missing market expectations. HPCL's EBITDA also decreased by 56% quarter-on-quarter to Rs 2,108 crore, with margins dropping 230 basis points to 1.9% from 4.2% in Q4 FY24.
Samsung is concerned about its low market share in the price-sensitive wearable business in markets like India and plans to address the issue by introducing low-cost fitness bands with limited capabilities and collaborating with the government and digital organizations to offer wearables as a service, a top executive said.
Latest on ICICI Bank debit cards: ICICI Bank has recently made important changes to the airport lounge access rules for specific debit cards. The revised criteria for qualifying for complimentary domestic airport lounge access will be applicable to the following cards.
Known for its sleek design and premium interiors, the Honda City offers a comfortable ride with advanced features
Book publishing small cap company Navneet Education today announced that its board of directors will consider a buyback of shares in the upcoming board meeting of the company, scheduled on August 1. The shares of the company surged 5% to Rs 163.20 on BSE following this announcement.
MP Asaduddin Owaisi criticised the government's budget for ignoring Muslims, accusing it of treating them as "untouchables." He highlighted the community's economic struggles and lack of representation. Owaisi condemned the reduction in the Ministry of Minority Affairs' budget and demanded more focus on Muslim education and employment.
West Bengal Chief Minister Mamata Banerjee on Monday asserted that her government is opposed to any agreement between India and Bangladesh over sharing of the Teesta river water. Maintaining that she loves the people of Bangladesh, Banerjee said sharing of Teesta water will mean "depriving north Bengal of even drinking water", let alone any provision for irrigation purposes.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri stated on Monday that India is unique in having reduced petrol and diesel prices between November 2021 and April 2024, contrasting with rising prices in other countries. He attributed this decrease to bold decisions by the Prime Minister.
MapMyIndia, homegrown digital mapping services company, is taking Ola Electric to court for allegedly stealing its data to create its recently-launched Ola Maps. MapMyIndia said the Bhavish Aggarwal company has copied its propriety data.
The 30-share BSE Sensex closed up 23.12 points at 81355.84
The Odisha government's committee overseeing the inventory of the Ratna Bhandar at Puri Jagannath temple will recommend using advanced technology for a comprehensive inspection to identify possible hidden chambers. The committee, chaired by Justice Biswanath Rath, also suggested updating SOPs and relocating certain items for preservation, ensuring temple rituals remain unaffected.
The MCD carried out a sealing drive in northwest Delhi’s Mukharji Nagar following the deaths of three UPSC aspirants in a flooded library. The drive focuses on establishments illegally using basements. Most coaching centre libraries have closed, impacting student preparations. Additionally, anti-encroachment measures were implemented in Old Rajinder Nagar to prevent waterlogging.
Paris Olympics 2024 have stirred some serious controversies. From the opening ceremony to a rape-convict's selection for a sport, here's all you need to know.
"The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said.