Articles for category: Business

September 27, 2024

NBCC secures a ₹75 crore contract to expand IIIT Nagpur’s infrastructure, enhancing educational facilities for future generations.

NBCC (India) Ltd has secured a significant contract worth Rs 75 crore to enhance the infrastructure at the Indian Institute of Information Technology (IIIT), Nagpur. This project marks a key development following the successful completion of Phase I, which included various academic and residential blocks. The upcoming Phase II will focus on constructing Academic Block ...

September 27, 2024

Market News

Business

Punjab BJP Chief Sunil Jakhar’s resignation sparks turmoil ahead of crucial panchayat elections, highlighting internal challenges and declining political presence.

Sunil Jakhar, the chief of the Punjab BJP, is reportedly stepping down just before the crucial panchayat elections set for October 15, 2024. His assistant has denied the rumors, stating that Jakhar has been busy and less active lately. Since the Lok Sabha elections in June, his political presence has significantly diminished, with his last ...

September 27, 2024

Market News

Business

Air India battles fleet challenges and delays post-Tata takeover, striving for a world-class transformation amid global shortages.

Air India, under the Tata Group’s ownership since 2022, is striving to modernize its outdated fleet as part of a five-year turnaround plan. CEO Campbell Wilson pointed out that the airline faces significant challenges, including global parts shortages and the need for equipment upgrades. Air India’s efforts include placing significant orders for new planes and ...

September 27, 2024

Market News

Business

Tokyo Electron plans to hire 10,000 globally, focusing on India to capitalize on semiconductor growth amidst geopolitical tensions.

Tokyo Electron Ltd., Japan’s leading chip equipment manufacturer, is planning to hire 10,000 new employees globally over the next five years, with a focus on recruiting engineers in India. This move aligns with the Indian government’s initiative to boost semiconductor manufacturing. The company aims to train local engineers to provide technical support to Tata Electronics, ...

September 27, 2024

Market News

Business

Credit card spending may surge during the festival season, but rising delinquencies and regulatory scrutiny loom ominously over growth prospects.

Credit card spending is anticipated to increase during the upcoming festival season, driven by discretionary purchases and promotional offers. However, growth may be tempered due to stricter regulations on unsecured lending and rising delinquencies in credit card payments. In August 2024, credit card transactions rose by 13.51% year-on-year, but there was a slight decline compared ...

September 27, 2024

Market News

Business

Nifty Energy Index faces resistance at 44,325; traders advised to book profits, while Pharma Index suggests a cautious sell strategy.

The Nifty Energy Index is currently experiencing a bullish trend but has hit a crucial resistance level at 44,325. Traders are advised to book profits and reduce long positions as profit booking is anticipated with any rise from this point. Support levels to watch are at 43,800, 43,600, and 43,200, making it ideal to wait ...

September 27, 2024

Market News

Business

NBFCs see a dramatic drop in unsecured loans share as RBI tightens regulations, reshaping the financial landscape by December 2023.

According to a recent report from the Reserve Bank of India’s September bulletin, non-banking financial companies (NBFCs) in the middle layer have the highest percentage of unsecured loans, holding 27.3% as of December 2023. This is closely followed by upper-layer NBFCs at 24.3%. Both categories saw a decrease in their respective shares from December 2022, ...

September 27, 2024

Market News

Business

Manufacturers challenge new e-waste recycling guidelines, claiming they raise costs and stifle the urgent transition to formal regulation.

Manufacturers of consumer electronics are expressing concerns about the Indian government’s new draft guidelines for recycling e-waste. They argue that the proposed rules set unrealistic minimum prices, making it more expensive to recycle electronic products. For example, the cost for recycling metals has jumped to Rs 80 per kilogram, which is a significant increase. This ...

September 27, 2024

Market News

Business

India ascends to 39th in the Global Innovation Index 2024, showcasing its vibrant entrepreneurial spirit and commitment to innovation.

India has made significant strides in the Global Innovation Index (GII), climbing to 39th place among 133 economies in the 2024 rankings, up from 40th last year. Union Minister Piyush Goyal announced this achievement, highlighting the role of India’s innovators and entrepreneurs in driving this progress. The rise is attributed to the country’s strong knowledge ...

September 27, 2024

Market News

Business

Amidst shifting alliances, India’s Jaishankar and Russia’s Lavrov strategize on regional stability and the complex Ukraine conflict at UNGA79.

External Affairs Minister S Jaishankar met with his Russian counterpart Sergey Lavrov to discuss bilateral cooperation and pressing regional issues. This meeting took place during the 79th UN General Assembly and followed Prime Minister Narendra Modi’s recent discussions with Ukrainian President Volodyr Zelenskyy. The dialogue focused on key topics such as preparations for the upcoming ...