Wheels India Ltd has reported a 64.3 per cent rise in its net profit for the January-March 2024 quarter at Rs 36.8 crore on the back of exports doing well, the company said. The Chennai-based manufacturer of wheels for trucks, agricultural tractors, passenger vehicles had registered a net profit of Rs 22.4 crore during the … Read more
A boom in tiny initial public offerings in India may soon be followed by larger deals, broadening options for global investors looking to join the nation’s equities frenzy. Citigroup Inc., the top arranger of equity offerings in India this year, sees four to five IPOs of at least $1 billion each over the next year. … Read more
Mumbai: Foreign investors will welcome the depth and liquidity of the local market as India begins to feature on global bond indices, but once overseas ownership crosses a point, local dealers will have to contend with a new landscape of volatility that worldwide interconnectedness brings, a Bank of America trading veteran said. Vikas Jain, head … Read more
India has sufficient tyre manufacturing capacity and imports should not be liberalised through FTAs by way of duty concessions, industry body Automotive Tyre Manufacturers’ Association said on Monday. The automotive tyres rank at the forefront of those sectors where domestic manufacturing capabilities can render imports unnecessary, Automotive Tyre Manufacturers’ Association (ATMA) has communicated to the … Read more
Lauding India’s structural reforms, Amitabh Kant, India’s G20 Sherpa and former Niti Aayog chief, said such reforms have moved the country from the fragile 5 to the top 5, leading to a growth rate of about 8.4% in the last 3 quarters. “Analysts are correct in saying that 30% of the global GDP growth will … Read more
Kia India on Friday said it has tied up with Orix auto infrastructure services to introduce a new ownership experience programme. The company has inked a Memorandum of Understanding (MoU) with Orix ‘Kia Lease’. The initiative aims to enhance brand accessibility and offer customers another option to own Kia without any maintenance, insurance, or resale … Read more
The Finance Minister on Friday at the CII Business Summit projected that the Indian consumer market is poised to double by 2031. Additionally, India is expected to contribute 18% to global growth in the next five years. Emphasising the strength of India’s growth narrative, the FM stated that it is compelling. Furthermore, the Finance Minister … Read more
The United Nations has revised upwards India’s growth projections for 2024, with the country’s economy now forecast to expand by close to seven per cent this year, mainly driven by strong public investment and resilient private consumption. The World Economic Situation and Prospects as of mid-2024, released Thursday, said, “India’s economy is forecast to expand … Read more
Narendra Modi, India’s prime minister, center, during a campaign rally in Agra, Uttar Pradesh, India, on Thursday, April 25, 2024. Modi doubled down on his attacks against the main opposition party by using language critics say sows division between the country’s Hindu majority and Muslim minority. Photographer: Prakash Singh/Bloomberg via Getty Images Bloomberg | Bloomberg … Read more
New Delhi: India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world’s fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that a 7 per cent economic growth rate will be a ‘very … Read more
