AstraZeneca aims to grow revenue by about 75% to $80 billion by 2030, it said on Tuesday, boosted by the expected launch of 20 new medicines and through growth in its existing oncology, biopharmaceuticals and rare disease portfolio. The Anglo-Swedish drugmaker had reported total revenue of $45.81 billion last year and earlier expected to launch … Read more
Bengaluru: Maruti Suzuki India Ltd reported better-than-expected quarterly profit on Tuesday, as the country’s biggest carmaker benefitted from strong demand for its passenger cars. Profit for Maruti, which has over 40% market share in the country’s passenger vehicles segment, came in at 23.51 billion rupees ($288.53 million) for the quarter ended Dec. 31, compared with … Read more
Mumbai: Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 percent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It … Read more
Bengaluru: The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities. The federal government’s gross indebtedness has more than doubled in the past four years … Read more
New Delhi: Maruti Suzuki India on Wednesday said it is recalling 17,362 units of models like Alto K10, Brezza and Baleno to inspect and replace faulty airbag controller. The affected models are Alto K10, S-Presso, Eeco, Brezza, Baleno and Grand Vitara, manufactured between December 8, 2022 and January 12, 2023, the country’s largest carmaker said … Read more
Bengaluru: A government agency has accused the local unit of South Korea’s Samsung Electronics of evading import taxes worth 17.28 billion rupees ($212 million) by misclassifying a product, the Economic Times reported today. The Directorate of Revenue Intelligence (DRI) said Samsung India Electronics Ltd misclassified networking devices called remote radio heads to avail undue exemption … Read more
Mumbai: The rupee rose 18 paise to 82.17 against the US dollar in early trade on Tuesday on easing crude oil prices. Forex traders said sustained foreign fund outflows and a weak trend in domestic equities weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at … Read more
New Delhi: Reducing inflation is the top priority for South Asian countries as risks to growth and investment outlook could rise if price pressures persist at high levels, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday. Speaking at an event organised by the International Monetary Fund (IMF), the Indian central bank chief … Read more
New Delhi: Reliance Industries Ltd will acquire German firm Metro AG’s wholesale operations in India for ₹ 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India’s mammoth retail sector. “Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, today signed definitive agreements to acquire … Read more
Mumbai: India’s central bank chief today warned that the next financial crisis will come from private cryptocurrencies adding that he still holds the view that cryptocurrencies should be prohibited. READ | RBI issued new guidelines regarding UPI transactions, check here guideline Reserve Bank of India governor Shaktikanta Das also added that cryptocurrencies have no underlying … Read more
After disrupting the telecom services space, multi-billionaire Mukesh Ambani has launched his next offensive. This time, he is eyeing the country’s vast fast moving consumer goods (FMCG) market, which is already the fourth-largest in the world. Armed with a host of fast-moving packaged food and beverages (F&B), Ambani’s Reliance today forayed into the market under … Read more
Mumbai: Reliance Jio today announced that users of iPhone 12 and above would get the Jio True 5G services with unlimited data, starting Thursday. Jio also mentioned in the statement that these users need to update to the latest iPhone iOS and carrier settings. The company said it had provided Jio Welcome Offer on users’ … Read more
New Delhi: Shares of IRCTC fell more than 5 percent in morning trade on the BSE on Thursday as the sale of the government’s up to 5 percent stake in the company kicked off. The government’s offer-for-sale (OFS) of up to 5 percent stake in Indian Railway Catering and Tourism Corporation (IRCTC) at a floor … Read more
Adani Enterprises Ltd., the flagship firm for billionaire Gautam Adani’s conglomerate, posted an almost 117 percent rise in quarterly profit, giving it more firepower to boost investments in numerous new businesses it’s nurturing. The Ahmedabad-based company reported a net income of 4.6 billion rupees ($55.5 million) for the quarter ended September 30, it said in a … Read more