India and Iran on Monday signed a 10-year contract for the operation of a terminal at the strategically important Chabahar port in Iran, a move that will boost regional connectivity as well as trade ties. This is the first time India will take over the management of an overseas port that will also have a multiplier effect on trade among India, Iran and Afghanistan as efforts continue to directly tap the potential in Central Asia, bypassing neighbouring Pakistan.
Posts tagged Rediff
Stock markets rebound; Sensex closes up 111 points (13-05-2024)
From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen and Toubro, ICICI Bank and Power Grid were the major gainers. Tata Motors dropped over 8 per cent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024. NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.
Weizmann to move court against Western Union on TM (13-05-2024)
Mumbai-based Weizmann, part of a diversified group, will take to court its former partner Western Union Holdings, the American money-transfer giant, alleging that the United States-based company has imitated its trademark and logo. This, its lawyers say, constitutes a case of infringement and dilution of its intellectual-property rights.
A-I’s intel cargo biz takes wings, not so for IndiGo (13-05-2024)
The international cargo operations of two major carriers – IndiGo and Air India Group (Air India and Vistara) – are experiencing opposite trajectories despite both the airlines significantly expanding their international flight offerings over the past year. During the fourth quarter of 2023-24, IndiGo’s international non-passenger cargo business declined to 6,848 tonnes. This is an 18.2 per cent year-on-year (Y-o-Y) decrease, according to data from the Directorate General of Civil Aviation (DGCA)
SBI to hire over 15,000 in FY25 to boost operations (13-05-2024)
State Bank of India (SBI) is planning to recruit over 15,000 people in 2024-25, increasing the strength of those in the field for marketing. The recruits will be also for deployment in the bank’s operations subsidiary and expanding the branch network. The operations subsidiary – State Bank Operations Support Services – became functional last year.
M and M’s growth engines roar to life (13-05-2024)
The stock of Mahindra and Mahindra (M and M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S and P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M and M’s counter.
Spice row: Govt plans greater scrutiny, SOPs (13-05-2024)
The government is formulating guidelines on the use of ethylene oxide (ETO) in samples of spices for the domestic market and exports, people aware of the matter said, as it plans to step up efforts to make quality checks more stringent. ETO, a flammable, colourless gas, is typically used as a disinfectant. It is also used as a sterilising agent and an insecticide to reduce microbial contamination in spices. However, its use is considered carcinogenic, beyond permissible limits.
‘India set to overtake Japan as 4th largest economy’ (12-05-2024)
Citing various macroeconomic parameters that are doing pretty well, India’s G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India’s GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
Factors that will guide the markets this week (12-05-2024)
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said.
Factors that will guide the markets this week (12-05-2024)
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said.