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Govt to become largest shareholder in Vodafone Idea Vodafone Idea’s (Vi) board has informed the Department of Telecommunications (DoT) that it will opt for converting the interest on spectrum and adjusted gross revenue (AGR) dues into government equity. The Indian govt will hold 35.8% and become the single largest shareholder in Vi. The cash-strapped telecom […]
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India’s GDP grows 1.6% in Q4; contracts 7.3% in FY21 India’s Gross Domestic Product (GDP) for the January-March quarter (Q4 FY21) grew by 1.6%, as per the provisional estimates released by the Ministry of Statistics and Programme Implementation (MoSPI). This indicates that an economic recovery was well underway before the second wave of the Covid-19 […]
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Indian automakers fear container shortage to hit parts supply, output Automakers in India are bracing for a parts shortage and possible production losses over the next 3-4 months due to a global shortage of available shipping containers. The concern was put forth by the Society of Indian Automobile Manufacturers (SIAM). The trade body stated that […]
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Govt approves 74% FDI in defence sector under automatic route The Indian Government has now permitted up to 74% foreign direct investment (FDI) in the defence sector, under the automatic route. The automatic route means that investments can be made even without prior approval from the government. The earlier limit for FDIs in the sector […]
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HDFC Bank becomes India’s first lender to cross Rs 8 lakh crore in market cap  HDFC Bank Limited, on Wednesday, became India’s first lender to cross Rs 8 lakh crore in market capitalisation. The private sector bank is the third most valued domestic firm in terms of market capitalization, after Reliance Industries and TCS. This […]
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Goldman Sachs raises India’s GDP forecast for 2020-21 Goldman Sachs has raised its GDP forecast for India to a 10.3% contraction, from the -14.8% it had projected in September. The global financial service provider has stated that it expects economic activity in the country to improve faster than anticipated. The firm has also stated that […]
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Cabinet approves PLI scheme worth Rs 2 lakh crore for 10 sectors The Union Cabinet has approved Production Linked Incentive (PLI) scheme worth up to Rs 2 lakh crore for 10 key sectors, for the next 5 years. The scheme will provide a boost to India’s manufacturing capabilities and improve exports. The sectors that will […]
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India to grow oil refining capacity to 450 MT by 2025: PM Modi Prime Minister Narendra Modi, on Monday, announced that India will increase its oil refining capacity to 450 million tonnes by 2025. The refining capacity is currently at 250 million tonnes. He stated that India’s energy sector will be growth-centric, investor-friendly, and environmentally […]
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Ambuja Cement reports 50.5% YoY rise in net profit Ambuja Cement Limited on Thursday reported a 50.5% year-on-year (YoY) increase in consolidated net profit at Rs 803.5 crore, for the July-September quarter. The increase in profit has been due to the company’s cost reduction programs, and increased volume growth. Ambuja Cement has also declared an […]

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