Business

[ad_1] India’s services sector showed continued strength in May, with businesses reporting solid growth in activity, hiring, and international demand. The HSBC India Services PMI Business Activity Index edged up to 58.8 from 58.7 in April, reflecting another sharp expansion. A reading above 50 indicates growth, while anything below signals contraction. The sector’s momentum was underpinned by healthy demand conditions, effective advertising, and repeat orders from loyal customers. Firms also gained new clients and reported a surge in export orders, particularly from Asia, Europe, and North America. “India registered a 58.8 services PMI in May 2025, broadly in line with the steady readings from recent months. Strong international demand continued to fuel services activity, as evidenced by the new export business index's uptick from April,” said Pranjul Bhandari, Chief India Economist at HSBC. With demand swelling, companies expanded their workforce […]

[ad_1] The rupee opened on a weak note at 85.69 on Wednesday and slipped further by 25 paise to hit 85.86 against the US dollar during early trading hours. The fall follows a 22 paise drop on Tuesday, when the domestic currency settled at 85.61. Currency traders attributed the rupee’s decline to ongoing outflows of foreign funds. On Tuesday, Foreign Institutional Investors (FIIs) sold Indian equities worth Rs 2,853.83 crore, according to exchange data. Despite the fall, the rupee found some support from positive signals in the domestic stock market, falling global crude oil prices, and a weak US dollar. The dollar index, which measures the greenback against six major global currencies, was down 0.05% at 99.18. Meanwhile, Brent crude prices dipped 0.32% to USD 65.42 per barrel in futures trade. According to Anil Kumar Bhansali, head of Treasury at […]

[ad_1] Top stocks to buy today (AI image) Stock market recommendations: According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, Gujarat State Fertilizers & Chemicals (GSFC), Indegene, and Redington are the top stocks to buy today:GSFC – Positional BuyBuy near ₹209–₹203 | Stop Loss: ₹180 | Target: ₹260GSFC has witnessed a falling trendline breakout on the weekly chart, indicating a shift in long-term trend. The higher high – higher low structure confirms a reversal from the downtrend. On the daily chart, the stock has reclaimed both 200 DEMA and 200 SMA, reinforcing bullish strength. Weekly RSI is also on the verge of a breakout, hinting at further momentum.INDEGENE – Breakout CandidateBuy near ₹625 | Stop Loss: ₹580 | Target: ₹700Recently listed Indegene gave a trendline breakout in today’s session. The breakout also resembles a bullish […]

[ad_1] PARIS: They are a study in contrast: One is an electronics goods maker, the other a footwear manufacturer. One has its base in Chennai, the other up North.But, both are focusing on ramping up at breakneck speed, hoping to cash in on overseas players seeking to tap India, not just for its domestic market but also for exports, especially after Trump's tariffs. The other similarity is scale.Electronics goods supplier Dixon Technologies, which has been busy with tie-ups to manufacture phones, laptops and consumer durables, is seeing a huge uptick in export orders from the US as countries seek to reduce reliance on China. "Indian market is around $40 billion, the US has imports of around $80 billion. In the next few years, we see a $100 billion export opportunity in the US and EU," said Dixon Technologies chairman Sunil […]

[ad_1] NEW DELHI: India's economy is projected to grow by 6.3% in 2025-26 and 6.4% in 2026-27, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday. It forecast global growth to slow to 2.9% in 2025 and 2026 due to substantial barriers to trade, tighter financial conditions, diminishing confidence, and heightened policy uncertainty.The projections by the Paris-based organisation showed that India will remain the fastest-growing economy among the G20 countries against the backdrop of global uncertainties. For India, the OECD trimmed the forecasts marginally. It said private consumption in India is supported by rising real incomes and lower personal income taxes. Investment will remain strong, bolstered by easing financial conditions. However, export growth is expected to moderate due to weaker global demand, the impact of higher tariffs, and heightened trade policy uncertainty.It stated that high merchandise export exposure […]

[ad_1] NEW DELHI: For Airbus, IndiGo and Air India are now among the top three airline customers globally with the maximum backlog or aircraft yet to be delivered, according to the aerospace major's EVP (sales, commercial aircraft) Benoit de Saint-Exupery. It has to deliver 916 and 344 aircraft, majority of which are narrow body, to IndiGo and AI, respectively, said an official. Malaysia-based AirAsia Group, which once used to run a JV airline in India with the Tatas, is at the second spot at 393 planes.In Delhi for the IATA AGM, Benoit had some good news for airlines that are getting increasingly frustrated with delivery delays (including from Boeing too). "We are seeing the first signs of stability in supply chain. We (are) now back to the pre-Covid level of producing 60 A320 family of single aisle planes every month […]

[ad_1] MUMBAI: Yes Bank's board approved several proposals, including a plan to raise Rs 7,500 crore via equity and Rs 8,500 crore via debt, following Japan's Sumitomo Mitsui Banking Corp's planned entry as a strategic investor. The decisions, taken on June 3, mark a shift in the bank's capital structure and governance framework. The proposals are subject to shareholder and regulatory approvals. The board also approved amendments to articles of association, giving SMBC the right to maintain its stake in future share issuances and to nominate two directors to the board. SBI will be allowed to nominate one. These moves give the Japanese bank significant influence in board affairs. [ad_2] Source link

[ad_1] BENGALURU: Aakash Educational Services filed an application before the NCLT in Bengaluru, seeking to dismiss a petition filed by Byju's and calling for the impleadment of consultancy firm EY and its partner Ajay Shah. AESL alleged a conflict of interest, citing EY's past advisory roles in transactions now being challenged by the resolution professional (RP) of Think & Learn, Byju's parent entity.In its application dated June 1, AESL claimed that EY and Shah played a central role in financial, legal, and compliance-related matters for the company, including the structuring of non-convertible debentures, their conversion to equity, and other board-level decisions. The same transactions are now under challenge by the RP, Shailendra Ajmera, who AESL alleges is also affiliated with EY. [ad_2] Source link