By Mahesh Patil Globally, the size of the textile trading industry is estimated at $800 billion, with India’s export contribution being around $35 billion. Recently, the government of India announced a road map for the industry to reach $100 bn by 2030, implying a 19% CAGR over the next six years. This would not only
Bitcoin, introduced in 2009 with a price of zero, reached $1 in February 2011. Fast forward to 2024, the world’s most popular cryptocurrency is now hovering near $100,000. As of November 24, Bitcoin’s price stands at $97,654.9. To give you an idea of the incredible returns Bitcoin has delivered, let’s assume you invested Rs 100
The U.S. Securities and Exchange Commission has issued a summons to Indian billionaire Gautam Adani, indicted on U.S. bribery allegations related to a bombshell federal indictment against him, a court filing showed. The SEC is suing the head of the Adani Group and his nephew Sagar Adani, alleging they engaged in hundreds of millions of
One of the two drivers of Reliance Industries Ltd’s recent underperformance – weak refining margin – has reversed but the other, poor-retail top-line growth, is difficult to anticipate, brokerage JP Morgan said in a report. Reliance stock is down 22 per cent from its peak on July 8 (NIFTY down 3.3 per cent), sharply reversing
The primary market is set to remain vibrant in December, with at least 10 companies planning to raise a combined Rs 20,000 crore through initial public offerings (IPOs), according to merchant bankers. Major players, including Vishal Mega Mart, which is set to launch an Rs 8,000 crore IPO, and Blackstone-backed International Gemmological Institute (India)
Ola Electric is gearing up to announce something big next week. This was confirmed by the company co-founder and CEO, Bhavish Aggarwal, on his personal X (formerly Twitter) handle. The latest social media post from Aggarwal doesn’t mention any noteworthy details but contains images which reveal a lot about the forthcoming development. The latest X
The National Capital Region (NCR) has experienced a remarkable 137% increase in housing prices, driven by renewed investor confidence, positive homeownership sentiments, extensive infrastructure projects, and escalating land and construction costs. Notably, between 2019 and September 2024, areas such as Noida, Gurugram, Ghaziabad, and Greater Noida have seen their prices more than double, as reported
The Ministry of Labour and Employment has reiterated that every subscriber of the Employees’ Provident Fund Organisation (EPFO) must have an Aaadhaar-linked Universal Account Number (UAN), which can be created by logging in on the member portal, according to an official statement. The central government has already issued directions to various ministries and departments to
Advance tax collections from the corporate sector, other firms and individuals in the current fiscal stood at Rs 10.45 lakh crore as on Sunday, up 14.6% on year. In the corresponding period of last fiscal, these collections — a proxy of corporate profitability and the state of the economy — stood at Rs 9.11 lakh
The four new companies formed after the restructuring of Vedanta have the potential to be $100 billion firms each, chairperson Anil Agarwal has said in a letter to shareholders. He has also highlighted the potential of the natural resources sector, both in India and global economies.“While Vedanta currently contributes close to 1.4% to India’s GDP, there
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
Budget carrier SpiceJet on Monday announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse `294.09 crore into the airline. This would be done through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic move will increase the consolidated shareholding of the
