The International Monetary Fund (IMF) on Friday retained its growth projection for India at 6.5 per cent for FY26 and FY27, holding that it is “in line with potential”. “The growth in India had slowed more than expected, led by a sharper-than-expected deceleration in industrial activity,” the IMF said in the update to its…
DetailsThe Salil Parekh-led Infosys Ltd on Thursday reported a 11.4 per cent year-on-year (YoY) rise in net profit at Rs 6,806 crore for the December quarter compared with Rs 6,106 crore in the same quarter last year. Revenue for the second-largest IT exporter grew 7.6 per cent YoY to Rs 41,764 crore for the third…
DetailsThe Central government will set up a committee for the implementation of the 8th Pay Commission for government employees and pensioners, potentially benefiting millions of individuals. The 7th Pay Commission’s recommendations, which were implemented by the Narendra Modi-led government in January 2016, would conclude on December 31, 2025. According to the timeline provided, the 8th Pay…
DetailsThe much-awaited Mahakumbh 2025 has officially commenced today in Prayagraj, promising to be the world’s largest gathering of people. Spanning until February, the Uttar Pradesh government estimates that approximately 400 million devotees will participate in this grand religious event. Meanwhile, the Confederation of All India Traders (CAIT) projects that Mahakumbh will generate a staggering Rs…
DetailsIndia’s third-largest IT services firm, HCLTech, has raised the lower end of its FY25 revenue growth guidance to the range of 4.5 per cent to 5 per cent. Earlier, the firm had provided a revenue guidance of 3.5–5 per cent. The Noida-headquartered IT services major, HCLTech, reported a net profit for the third quarter (October–December) of…
DetailsThe Indian rupee slid to an all-time low on Friday, closing at 85.9650 against the US dollar, down 0.2% for the week. The rupee has hit new closing lows for the third consecutive day this week and this marked its tenth consecutive weekly decline, surpassing the previous record low of 85.9325 reached on Thursday. The…
DetailsIndia’s Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2025, a day keenly awaited by taxpayers across the country. Many tune in specifically for the segment on income tax, eager to see if any changes are announced to provide relief for the common man. This year, speculation revolves around…
DetailsIndia’s largest IT services player Tata Consultancy Services (TCS) saw its net profit for the third quarter of the fiscal year 2024-25 at Rs 12,380 crore, up 11.9 per cent compared to Rs 11,058 crore in the same quarter of FY24. Revenue for the company grew 5.6 per cent to Rs 63,973 crore in Q3 FY25.…
DetailsEquity mutual funds (MFs) capped a strong 2024 with near-record inflows in December. With net inflows of Rs 41,156 crore in December, the 2024 tally surged to Rs 3.9 trillion, up 144 per cent compared to 2023. The December tally, which was only slightly short of the record-high inflows of Rs 41,887 crore achieved…
DetailsSunny Agrawal of SBI Securities said the entire railway story is well-discovered and there may not be any cutting down on spending by the government in the forthcoming Union Budget 2025, scheduled to be presented on February 1 (Saturday). “The railway sector will remain under focus for the next three to five years. Both passenger-…
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