Business

[ad_1] MUMBAI: There’s a new twist in the ‘Lodha’ branding forgery matter. House of Abhinandan Lodha, the company that was blamed for illegally using the ‘Lodha’ brand name by Macrotech Developers, has filed a police complaint at N M Joshi Marg police station in the city saying some unknown entity had committed the fraud using its name.In its 73-page complaint (and supporting documents) to the police, a senior House of Abhinandan Lodha official stated that the company had discovered that certain forged documents were used on its behalf to change the names of four of its group companies.The police complaint by House of Abhinandan Lodha was filed on April 3, a day after Macrotech, one of the largest listed real estate companies in India, told the exchanges that a fabricated board resolution and PAN card of one of its directors, […]

[ad_1] File photo - Piyush Goyal NEW DELHI: A significant part of the Rs 10,000 crore second fund of funds for startups is proposed to be reserved for seed funding of smaller players to support deep-tech innovation, commerce and industry minister Piyush Goyal said Saturday.The fund is to be set up by Sidbi, the govt-owned financial institution, and an allocation of Rs 2,000 crore will be disbursed during the year. The second fund of funds was announced in the Budget.Addressing the Startup Mahakumbh, Goyal also announced the setting up of a dedicated Startup India desk within his ministry to serve as a helpline for budding entrepreneurs across India, accessible through a simple four-digit toll-free number in regional languages."We aim to foster development of cutting-edge technologies like AI, robotics, quantum computing, machine learning, precision manufacturing and biotech," Goyal said. The objective […]

[ad_1] UK automaker Jaguar Land Rover is pausing shipments of its cars to the US following the introduction of tariffs by Donald Trump's govt. The Coventry, England-headquartered company is putting these exports on hold this month as it looks at ways to address the new trading terms, a spokesperson said on Saturday. The US govt introduced a 25% tariff on imported cars, which went into effect on Thursday. "The USA is an important market for JLR's luxury brands," the spokesperson said in an emailed statement. The Times was the first to report the shipment pause.Jaguar Land Rover sold 430,000 vehicles in the 12 months up to March 2024, of which almost a quarter were in North America, according to its annual report. bloomberg [ad_2] Source link

[ad_1] RBI Governor Sanjay Malhotra (File photo) The Reserve Bank of India (RBI) is expected to cut key interest rates by up to 25 basis points this week, with lower inflation supporting an accommodative monetary policy stance. This move is also seen as necessary to stimulate growth amidst global economic challenges, including the tariffs announced by the United States, as per PTI report. In February, the RBI’s Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, reduced the repo rate by 25 basis points to 6.25%, marking the first rate cut since May 2020.The 54th meeting of the MPC is set to begin on April 7, with the official announcement scheduled for April 9. The RBI had kept the repo rate at 6.5% since February 2023, after a series of rate hikes that followed the reduction during the COVID-19 pandemic […]

[ad_1] Representative image (IANS) Foreign investors have pulled out Rs 10,355 crore from India’s equity markets over the last four trading sessions, following the imposition of sweeping tariffs by the United States on most nations, including India. This outflow occurred after a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28, which had helped reduce the overall outflow for March to Rs 3,973 crore, as per data from depositories, as per PTI report. In comparison, foreign portfolio investors (FPIs) withdrew Rs 34,574 crore in February and a higher amount of Rs 78,027 crore in January. This shift in investor sentiment underscores the ongoing volatility and the changing dynamics of global financial markets.The recent wave of FPI withdrawals highlights the uncertainty surrounding global trade, exacerbated by the US's decision to implement heavy tariffs. […]

[ad_1] The Saudi stock market experienced its largest daily drop in five years, with the index falling by 6.78% on Sunday. This marked the worst loss since the early days of the Covid-19 pandemic, according to state media.According to news agency AFP, the sharp decline was triggered by the recent imposition of sweeping trade tariffs by the US, which led to a global stock market rout and heightened fears of a full-scale trade war and potential recession.Al-Ekhbariya, the state-run television channel, reported that the Saudi stock index closed nearly 7% lower, losing over 800 points. The news outlet described the drop as "the largest daily loss in five years" and pointed out that many Saudi companies, including the oil giant Aramco, were hit hard by the downturn.The tariffs, introduced by President Donald Trump, have had a significant impact on global […]

[ad_1] NSE Managing Director and CEO Ashish Kumar Chauhan National Stock Exchange (NSE) Managing Director and CEO Ashish Kumar Chauhan stated on Sunday that despite the ongoing global uncertainty following the imposition of reciprocal tariffs by the US, India is performing better than other countries. He mentioned that a clearer picture will emerge in the coming weeks as negotiations unfold and the duty structure stabilizes, as per PTI report. Chauhan, who visited the Mata Vaishno Devi Shrine on the occasion of Ram Navami, pointed out that India’s stock market has shown resilience compared to other nations after the US imposed new import duties, including those on India. He said, "India's position seems to be stronger compared to other countries."He also highlighted that while there is confusion about the potential impact, particularly on some companies, he expects the situation to stabilize […]

[ad_1] Indian metal companies are gearing up for expansions in the current fiscal year, with a strong emphasis on growing domestic demand despite global trade headwinds, including the tariffs recently imposed by the United States. Major players such as Vedanta, JSW Steel, Hindustan Zinc, and NALCO are focusing on India’s robust demand, the global competition for critical minerals, and strategic diversification across regions to fuel their growth, say analysts.According to news agency PTI report, domestic steel demand is forecast to grow by 10% annually in the coming years. Similarly, aluminium demand is expected to increase at a compounded annual growth rate (CAGR) of 7.2% till 2030. Industry experts predict that India’s aluminium demand will double every five years, supported by the Indian government's allocation of Rs 11.21 lakh crore for infrastructure development in the 2025-26 budget. This domestic focus places […]

[ad_1] AI generated image means for representation purpose only Analysts anticipate a volatile week ahead for stock markets as investors closely monitor the impact of US tariffs, US inflation data, and the Reserve Bank of India's (RBI) upcoming interest rate decision. The uncertainty surrounding global trade and inflation, sparked by the US tariff impositions, continues to drive market sentiment.US President Donald Trump's recent announcement of reciprocal tariffs has fueled concerns over a potential trade war, which could significantly impact global trade and economic growth. Experts warn that this escalation in tariffs might lead to inflationary pressures and slowdown in key global economies, further complicating the market outlook.Volatile trends"The upcoming week will be volatile for both global and Indian markets," Puneet Singhania, Director at Master Trust Group told news agency PTI. "The markets are grappling with the aftermath of the US […]