Category: Economy
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SEBI grants LIC 3 more years to achieve 10 pc public shareholding norm
Mumbai, May 15,2024: Life Insurance Corporation of India (LIC) on Wednesday announced that markets regulator Securities and Exchange Board of India (SEBI) has granted it a three-year extension to comply with minimum 10 per cent public shareholding norms. “Pursuant to Regulation 30 of Listing Regulations, this is to inform the Securities and Exchange Board of…
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WPI to be around 3 per cent in FY 25, say economists
Chennai, May 15,2024: The Wholesale Price Index (WPI) is expected to be in the region of 2-3 per cent over the next two quarters and average at around 3 per cent for FY25, top economists at two credit rating agencies said as the Commerce and Industry Ministry announced the WPI for April 2024 was 1.26…
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Over 300 pc hike in India’s budget outlay for agriculture in last 9 years: FAIFA report
New Delhi, May 15,2024: There has been an over 300 per cent increase in budget allocation for agriculture over the last 9 years and more than 11 crore farmers benefited from the PM Kisan scheme, according to a report released by the Federation of All India Farmer Associations (FAIFA) on Wednesday. FAIFA, a non-profit organisation…
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Sensex slumps 117 points, Nifty holds 22,200 amid profit booking
Mumbai, May 15,2024: Indian equity benchmarks closed in red on Wednesday, following profit booking and sideways trading among global peers. At closing, Sensex was down by 117 points or 0.16 per cent, at 72,987 points and the Nifty was down by 17 points or 0.08 per cent, at 22,200 points. Midcap and smallcap stocks outperformed…
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Global VC firms eye controlling stake in popular food chain Haldiram
New Delhi, May 14,2024: The popular food and snacks chain Haldiram is up for grabs as a global group of investors has reportedly submitted a non-binding bid to acquire a controlling stake worth $8.5 billion in the company that was founded in Bikaner, Rajasthan in 1937. A global consortium led by top private equity (PE)…
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WPI inflation edges up to 1.26 pc in April
New Delhi, May 14,2024: The country’s inflation rate based on the Wholesale Price Index (WPI) edged up to 1.26 per cent in April, compared to the same month last year, data released by the Commerce and Industry Ministry on Tuesday showed. Prices of crude petroleum and natural gas (3.56 per cent) and food articles (2.67…
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Wholesale Price Index inflation remains benign: Industry
New Delhi, May 14,2024: The Wholesale Price Index (WPI), which edged up to 1.26 per cent in April, remains benign and inflation in the food articles is expected to rationalise by September-October, industry bodies said on Tuesday. According to the Commerce and Industry Ministry, prices of non-food articles (-1.19 per cent) and minerals (-1.55 per…
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Talent growth, investments to help India’s AI market reach $5.1 billion by 2027
New Delhi, May 14,2024: Fueled by talent growth and continued investment, the Artificial intelligence (AI) market in India is forecast to grow at 31.5 per cent CAGR (compound annual growth rate) to reach $5.1 billion by 2027, a new report showed on Tuesday. The AI software sector will be the primary driver of overall growth,…
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Indian general insurers log premium income of Rs 29,678.99 crore in April
Chennai, May 14,2024: The 32-member non-life insurance industry closed the first month of FY25 with a gross premium of Rs 29,678.99 crore and logged 15.86 per cent growth, said General Insurance Council of India. According to the General Insurance Council, the non-life insurers earned a premium of Rs 29,678.99 crore last month, up from Rs…
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68 pc Indian firms rely on tech to drive sustainability success: Report
New Delhi, May 14,2024: About 68 per cent of organisations in India rely on technology to drive sustainability success, fueled by customer demand, a new report said on Tuesday. According to the report by IT infrastructure services provider Kyndryl, in collaboration with Microsoft, about 56 per cent of Indian organisations leverage digital tools for hybrid…