Business

India’s GDP growth is seen dipping to an 11-year low of 5 per cent in the current fiscal, mainly due to poor showing by manufacturing and construction sectors, government data showed on Tuesday. As per the first advance estimates of the national income released by the National Statistical Office (NSO), the manufacturing sector output growth will decelerate to 2 per ...

Gold prices in the national capital hit an all-time high level on Monday and zoomed Rs 720 to Rs 41,730 per 10 gram following a pick-up in safe-haven demand for the metal amid weak equities and bullish global trends, according to HDFC Securities. Silver also witnessed increased buying as it surged Rs 1,105 to Rs 49,430 per kg from Rs ...

The country’s foreign exchange reserves swelled by USD 2.520 billion to touch a record high of USD 457.468 billion in the week to December 27, according to RBI data. In the previous week, the reserves rose to USD 454.948 billion after increasing by USD 456 million. In the reporting week, the increase in reserves was mainly on account of a ...

Equity benchmark BSE Sensex jumped over 150 points in opening session on the first day of 2020, tracking buying in index heavyweights Reliance Industries, HDFC twins, ICICI Bank, L&T and Axis Bank. After rising 164 points in early trade on Wednesday, the 30-share BSE index was quoting 131.47 points or 0.32 per cent higher at 41,385.21. Similarly, the broader NSE ...

The economic slowdown may have clipped sales of cars and biscuits in 2019, but smartphones bucked the trend as urban and rural users continued to buy, and even upgrade to, expensive handsets – a trend likely to pick up pace in the coming year. The growth in smartphone adoption was further fuelled by the government’s push to position the country ...

Benchmark indices nursed losses for the third straight session on Thursday, led by selling in market heavyweights Reliance Industries and HDFC Bank amid expiry of December derivatives contracts. After tumbling 328.37 points during the day, the 30-share BSE Sensex ended 297.50 points, or 0.72 per cent, lower at 41,163.76. It hit an intra-day low of 41,132.89. Similarly, the broader NSE ...

Gold prices on Tuesday jumped Rs 191 to Rs 39,239 per 10 gram in the national capital following rally in global prices, according to HDFC Securities. Silver also zoomed Rs 943 to Rs 47,146 per kg compared to the previous close of Rs 46,203 per kg. Gold had on Monday closed at Rs 39,048 per 10 gram. “Spot gold for ...

As bad loan recognition process nears completion, gross non-performing loans of banks improved to 9.1 per cent as of end-September 2019, compared to 11.2 per cent in FY18, says an RBI report. Net non-performing assets (NPAs) of all commercial banks reduced to 3.7 per cent in FY19 as against 6 per cent in FY18. “The gross NPA ratio of all ...

Prime Minister Narendra Modi said that the goal of achieving the 5 Trillion Dollar Economy is achievable. He was participating at the inaugural session of the Hundred Years of ASSOCHAM in New Delhi today. Addressing a gathering of leaders from the Corporate World, Diplomats and others, the Prime Minister said that the idea of making India a 5 Trillion Dollar ...

Indian IT major Infosys has agreed to pay USD 800,000 (nearly Rs 5.6 crore) to settle allegations of misclassification of foreign workers and tax fraud, officials said on Tuesday. Infosys will pay California USD 800,000 to resolve allegations that, between 2006 and 2017, approximately 500 Infosys employees were working in the state on Infosys-sponsored B-1 visas rather than H-1B visas, ...