MUMBAI: Interest in India remains undiminished despite near-term volatility, according to Vikram Sahu, India CEO and country executive at Bank of America.“Corporate interest remains strong and unchanged in its conviction,” Sahu said, adding that strategic investors continue to take a long-term view of India, drawn by its scale, growth prospects and governance framework.Investor sentiment is…
The rupee weakened for a second straight session on Wednesday, falling 40 paise to close at 95.76 against the US dollar amid concerns over proposed US tariffs, rising crude oil prices, persistent foreign fund outflows and escalating geopolitical tensions, PTI reported.Forex traders said investor sentiment came under pressure after the Office of the United States…
State-owned BHEL on Wednesday said the company has secured an order worth Rs 2,000-2,500 crore from a Nigerian entity. The contract agreement was signed with Nigeria’s Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise on June 2, according to a regulatory filing. The order pertains to design, manufacturing, supply and supervision of erection and commissioning…
The statistics ministry on Wednesday released a uniform framework for compiling district-level economic output estimates with the revised base year of 2022-23, a move aimed at improving consistency and comparability of economic data across states and Union Territories, PTI reported.The Ministry of Statistics and Programme Implementation (MoSPI) said the finalised Guideline for Compilation of District…
New Delhi: India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 could generate more than 44 lakh full-time equivalent (FTE) jobs, with rooftop solar emerging as the single largest employment generator, accounting for nearly 43% of the total, according to a new study.The findings are significant as rooftop solar gains momentum across…
India’s economy has remained resilient despite geopolitical tensions, supply-chain disruptions and volatile commodity prices, supported by strong industrial and services activity, broad-based demand and improving corporate performance, RBI Deputy Governor Swaminathan J said.In a speech at the School of International and Public Affairs (SIPA), Columbia University, the Deputy Governor said inflation remains within the Reserve…
Rising oil prices and renewed tensions involving Iran weighed on US equities on Wednesday, but Wall Street remained close to record levels as investors continued to bet on a potential reopening of the Strait of Hormuz and drew support from strong corporate earnings.The S&P 500 slipped 0.2% from its all-time high, while the Dow Jones…
Just a day after helping power a sharp rebound in technology stocks, Tata Consultancy Services (TCS) turned into one of Dalal Street’s biggest losers on Wednesday, with the stock plunging more than 8% in its steepest single-day decline since the Covid-driven market crash of March 2020.The sell-off erased the gains accumulated during the recent rally…
Vikram Sahu, India CEO and Country Executive, Bank of America, hosted the bank’s investor conference in India with foreign institutional investor participation rising 20% from the previous year. According to Sahu, despite the short-term challenges interest in India remains undiminished.Q. With the monetary policy committee meeting around the corner what do you expect from the…
The Union Cabinet on Wednesday approved a package of projects and schemes worth Rs 39,290 crore, spanning aviation, highway infrastructure and transport modernisation, with the largest allocation going towards the creation of an Aviation Turbine Fuel (ATF) Price Stabilisation Fund.According to details of the Cabinet decisions, the government approved a Rs 10,000 crore ATF Price…
