Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. “We started the year with two huge challenges – the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
Posts tagged Rediff
After encouraging Q4, outlook positive for LIC (06-06-2024)
India’s largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.
NSE sets world record; handles 1,971 cr deals in 1 day (05-06-2024)
The National Stock Exchange (NSE) on Wednesday created a world record with processing 1,971 crore transactions in a single day, its MD and CEO Ashishkumar Chauhan said. “@nseindia handled the highest ever – world record – number of transactions in a single day today on June 5, 2024, in a 6 hours and 15 minutes (915 am to 330 pm) single trading day – 1,971 crore (19.71 billion) orders per day. 28.55 crore (280.55 million) trades per day,” Chauhan said on X platform (formerly Twitter).
NSE sets world record; handles 1,971 cr deals in 1 day (05-06-2024)
The National Stock Exchange (NSE) on Wednesday created a world record with processing 1,971 crore transactions in a single day, its MD and CEO Ashishkumar Chauhan said. “@nseindia handled the highest ever – world record – number of transactions in a single day today on June 5, 2024, in a 6 hours and 15 minutes (915 am to 330 pm) single trading day – 1,971 crore (19.71 billion) orders per day. 28.55 crore (280.55 million) trades per day,” Chauhan said on X platform (formerly Twitter).
Investors richer by Rs 13.22 lakh cr as markets rise (05-06-2024)
A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
Investors richer by Rs 13.22 lakh cr as markets rise (05-06-2024)
A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
Capital goods, engg companies firm up capex plans (05-06-2024)
As order books gain from India’s increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen and Tourbo (L and T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Modi 3.0: Moody’s expects policy continuity, but… (05-06-2024)
The BJP-led National Democratic Alliance’s (NDA) slim majority in Lok Sabha may delay more far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation, Moody’s Ratings said on Wednesday. NDA securing a majority in the general elections will give a historic third term for Narendra Modi as Prime Minister of India. “We expect policy continuity, especially with regards to budgetary emphasis on infrastructure spending and boosting domestic manufacturing, to support robust economic growth.
‘BJP’s weakened majority poses challenges to reforms’ (05-06-2024)
The BJP losing its outright majority and relying on allies to form a government could pose challenges for the more ambitious elements of reform agenda like land and labour, Fitch Ratings said in a note on Wednesday. Prime Minister Narendra Modi-led BJP lost its majority for the first time since 2014, winning 240 seats in the 543-seat Lok Sabha.
GST Council may consider dropping 12% slab (05-06-2024)
The fitment committee under the Goods and Services Tax (GST) Council, comprising central and state officials, has begun a rate rationalisation exercise afresh, checking the possibility of dropping some of the rates, particularly the 12 per cent slab, to achieve a revenue-neutral structure, a senior official with direct knowledge of the matter