Indian Economy: News, Updates and Discussions

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India only nation among top 5 to see growth in steel production

India is the only top five steel producing nation to see growth in production in April, while China, Japan, and the United States experienced a decline. India's steel production rose by 3.6% in April, with a total of 49.5 million tonnes produced from January-April this year.

economictimes.indiatimes.com

Organised jewellery retailers likely to witness 17-19 pc revenue growth in FY25: Report

The report further stated that the working capital requirements of retailers might increase due to higher inventory levels resulting from the substantial rise in gold prices and new store additions. However, credit profiles should remain stable, it added.

economictimes.indiatimes.com

RBI buys 1.5 times more gold in January-April than whole of 2023

The Reserve Bank held 827. 69 tonnes worth of gold as a part of its foreign exchange reserves as of April 26,2024, up from 805 tonnes as of end December according to the latest Reserve bank of India data.

economictimes.indiatimes.com

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BASED

RBI approves dividend of Rs 2.11 lakh crore to Centre for FY24, up 140% YoY

RBI DIVIDEND: At its 608th meeting in Mumbai, the Reserve Bank of India approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, marking a 141% increase from FY23's Rs 87,416 crore. This move, reported earlier by ET, aids the Centre in reaching its fiscal deficit target for...

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https://twitter.com/x/status/1793231581022204094

Q1 GDP growth at 7.5%!

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[DDG-80]

India only nation among top 5 to see growth in steel production

India is the only top five steel producing nation to see growth in production in April, while China, Japan, and the United States experienced a decline. India's steel production rose by 3.6% in April, with a total of 49.5 million tonnes produced from January-April this year.

economictimes.indiatimes.com

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Q1 GDP growth at 7.5%!

https://twitter.com/x/status/1793096174209302881

Back then, our steel-making was just 1/10th of China's. But now, from January to April this year, the difference has shrunk to 6.9 times. This is like what happened with GDP. During COVID, it was 5.7 times our GDP, but now it's 4.7 times. If India keeps growing steadily at 7-8%, we can play a big part in the global supply chain and close the gap in GDP with our top rival.

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[CallSignMaverick]

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[Circadian Rhythm]

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[Circadian Rhythm]

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[Circadian Rhythm]

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[DDG-80]

India's forex reserves rise to an all time high for week ending on May 17; up by $4.54 bn to $648.7 bn

India's forex reserves reached an all-time high of $648.7 billion as of May 17, according to the Reserve Bank of India. This follows a surge of $2.56 billion in the previous week. Foreign currency assets (FCAs) also increased by $3.361 billion to $569.01 billion. Gold reserves increased by $1.24...

economictimes.indiatimes.com

 

[DDG-80]

First time in history! Tata Motors' Jaguar Land Rover to make Range Rover, Range Rover Sport models in India; prices to fall up to 22% - Times of India

India Business News: Jaguar Land Rover, under Tata Motors, will manufacture Range Rover and Range Rover Sport models in India for the first time. This move aims to enhance

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[CallSignMaverick]

Hindalco raises FY25 capex target to ₹6,000 crore

Hindalco raises FY25 capex target to ₹6,000 crore

Earlier this year, Hindalco said it would spend ₹5,000-5,500 crore on capex in FY25. In FY24, it spent about ₹4,200 crore.

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Record AC Sales of 10,000 Units per Day in Ahmedabad Due to Extreme Heat Conditions | Ahmedabad News - Times of India

Air conditioner sales in Ahmedabad are skyrocketing with an average of 10,000 units sold per day, driven by the ongoing heatwave. Sales could surpass 6 lakh units for April and May, setting a new record. Installation delays are up to five days due to high demand, with 80% of purchases made...

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Heatwave effect: From AC to refrigerator, sales of summer products peak

Heatwave in India: Consumers are flocking to purchase home appliances that bring respite from scorching heat as temperatures soar across the country.

www.businesstoday.in

India data center boom to drive 10 million sq ft realty demand by 2026
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India data center boom to drive 10 million sq ft realty demand by 2026

Cloud Service Providers (CSPs), which furnish information technology infrastructure primarily for data storage and computing power via the Internet, have adjusted their strategies to accommodate AI-driven demand. These providers have also disclosed plans for increased investments to support...

economictimes.indiatimes.com

Jio Financial plans Rs 36,000 cr ($4.5 billion) deal with Reliance Retail

Jio Financial plans Rs 36,000 cr deal with Reliance Retail

Jio Financial Services seeks shareholder approval for its unit to purchase telecom equipment worth Rs 36,000 crore from Reliance Retail. The move signals JFS's entry into the device leasing business. The deal involves Jio Leasing Services buying routers and cell phones for rental to Reliance Jio...

economictimes.indiatimes.com

Ready to build high-capacity nuclear power units in India: Russia

Ready to build high-capacity nuclear power units at new site in India: Russia

Russia and India are set to expand cooperation in atomic energy. There are plans to construct high-capacity nuclear power units at a new site in India. Department of Atomic Energy secretary Ajit Kumar Mohanty and Rosatom State Atomic Energy Corporation of Russia Director General Alexey Likhachev...

economictimes.indiatimes.com

JLR plans to start making flagship Range Rover model in India

The local assembly will translate into a 18-22% price reduction, Amba said. The Range Rover will drop to Rs 2.6 crore from Rs 3.3 crore while the Range Rover Sport will fall to Rs 1.4 crore from Rs 1.8 crore. India levies a duty of 15% on completely knocked down kits and more than 100% on...

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Tata Power seeks up to $1 billion loan for clean energy projects

The unit of Tata Group, one of Indias largest conglomerates, is in talks with lenders including State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank for the loan, people familiar with the matter said, asking not to be identified as the information is private.

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EFC expands co-working portfolio; adds 360,000 sq ft in Noida and Pune

Integrated office infrastructure and design company EFC (I) Limited is expanding its co-working portfolio by adding 3.6 lakh sqft in Pune and Noida, aiming to add 10,000 seats by H1FY2025. With a presence in seven states and 35 centres, the company has seen a 120% capacity increase, focusing on...

economictimes.indiatimes.com

Tata Power seeks up to $1 billion loan for clean energy projects

The unit of Tata Group, one of Indias largest conglomerates, is in talks with lenders including State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank for the loan, people familiar with the matter said, asking not to be identified as the information is private.

economictimes.indiatimes.com

Biocon to invest â¹2,200 crore in capex in the next 2 years

Biocon Limited's Q4 FY24 results show a 56.7% profit decline, CEO discusses performance and future roadmaps with BusinessLine.

www.thehindubusinessline.com

JK Tyre lines up Rs 1,400crore expansion capex - Times of India

India Business News: CHENNAI: Tyre major JK Tyre has lined up fresh capex of Rs 1,400 crore to expand capacity across its range.

timesofindia.indiatimes.com

Max Healthcare plans capex of Rs 1500 cr for FY25 - Times of India

India Business News: NEW DELHI: Max Healthcare Institute, one of the largest healthcare services companies, has earmarked a capex of over Rs 1500 crore during FY25, which .

timesofindia.indiatimes.com

Wheels India Ltd Announces Rs.200 Crore Capex for FY2024

Reports 64.3% Rise in Q4 Net Profits

www.constructionworld.in

Pricol continues its capex cycle with over â¹200 cr planned for FY25

Pricol Ltd to invest â¹200-220 crore in FY25 for expanding production capacities, focusing on digital instrument clusters and PCB manufacturing.

www.thehindubusinessline.com

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[CallSignMaverick]

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[DDG-80]

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[DDG-80]

Make in India: US-based GS Precision & Jeh Aerospace tie up for making aero-engine parts at Hyderabad facility - Times of India

India Business News: Jeh Aerospace and US-based GS Precision have entered a manufacturing partnership to establish a production facility in Hyderabad.

timesofindia.indiatimes.com

 

[DDG-80]

 

[JaneBhiDoYaaron]

BSE sensex at record high as exit poll predict Modi victory.
https://timesofindia.indiatimes.com...-poll-2024-modi-stocks/liveblog/110649174.cms

 

[DDG-80]

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