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[ad_1] New Delhi: Tesla is not interested in manufacturing cars in India, but is keen to have showrooms to sell its vehicles, heavy industry minister H D Kumaraswamy said on Monday.Officials said the EV giant's plans is focused on importing cars into the country, amid indications that Tesla is eyeing concessions under the India-US bilateral trade agreement to sell cheaper cars in India, without any commitment to manufacture locally. A top ministry official said since the deliberation with industry started to promote manufacturing of electric cars by global players, Tesla has not shown interest. tnn [ad_2] Source link

[ad_1] BENGALURU/MUMBAI: Infosys promoters hold 54.2 crore shares (14.6% of total company shares), a stake so significant that the company's latest dividend payout at Rs 43 per share translated into Rs 2,330 crore, shared among them. Infosys announced a total dividend of Rs 43 per share, including an interim dividend of Rs 21 per share for FY25. The total payout is a 52% jump compared to the Rs 1,527-crore dividend payout in FY24. Chairman Nandan Nilekani, owns four crore shares, earning him Rs 175 crore in dividends. Infosys co-founder NR Narayana Murthy holds 1.5 crore shares, reaping Rs 65 crore in dividends. The other promoters include Kris Gopalakrishnan with nearly 3.2 crore shares and dividends of Rs 137 crore. Sudha Gopalakrishnan maintains the highest individual shareholding of 9.5 crore shares, resulting in dividend earnings of Rs 410 crore. High Net-Worth […]

[ad_1] NEW DELHI: As Indian carriers prepare to increase their share in international airtravel in and out of the country, India's largest airline IndiGo has reacted sharply to Emirates' long-standing demand for more flying rights for Dubai."First of all, it's called a bilateral agreement, right? That means two sides have to agree on something. If one side makes more and more noise, it doesn't mean you're more and more right. It's not that if one side says, 'now we do it' - that's not how it works," IndiGo CEO Pieter Elbers said at the IATA AGM on Monday, without naming Emirates.On Sunday, Emirates Airlines president Tim Clark said: "We've been stuck with 65,000 seats in each direction (Dubai-India and vice-versa) for just over 11 years now. Fifteen years ago, the population to Dubai was about 25 lakh. This is over […]

[ad_1] India’s real GDP growth is projected to slow to 6.2 per cent in FY26, down from 6.5 per cent in FY25, according to a report released on Monday by Japanese brokerage firm Nomura.Nomura’s research report, quoted by PTI, highlighted a growing “divergence” between Goods and Services Tax (GST) collection growth and other high-frequency indicators such as auto sales and bank credit growth.Official data released last week showed that real GDP growth fell to 6.5 per cent in FY25, compared to 9.2 per cent in FY24, while the Reserve Bank of India (RBI) continues to project growth at 6.5 per cent. “Our baseline view assumes GDP growth moderates to 6.2 per cent in FY26 from 6.5 per cent in FY25,” claimed Nomura's report.Despite the moderation in growth, Nomura raised its Nifty target for March 2026 to 26,140 points, up from […]

[ad_1] In fiscal year 2025, NSE's cash segment achieved a turnover of Rs 281 lakh crore. (AI image) National Stock Exchange or the NSE, India’s most valuable unlisted company, also ranks as the world’s fifth largest stock exchange with a market capitalization of Rs 4.7 lakh crore! In the unlisted market, NSE shares command significant interest, trading at approximately Rs 2,200 per share, with a price-to-earnings ratio of 44x. The exchange's financial performance for FY25 showed revenue growth of 4%, reaching Rs 17,140 crore, whilst net profits saw a substantial increase of 47%, totalling Rs 12,187 crore.In fiscal year 2025, NSE's cash segment achieved a turnover of Rs 281 lakh crore, whilst BSE registered Rs 19 lakh crore. Both exchanges demonstrated consistent growth, with their cash turnover increasing by 25% annually across the previous five-year period, highlighting the robust performance […]

[ad_1] Image used for representative purposes Tata Group-owned Air India has been working on a top-to-bottom transformation for the last three years and has also placed orders for 570 planes, the airline's CEO and MD Campbell Wilson said on Monday.“It is a transformative time for India and a transformative time for Air India…,” Wilson said, highlighting the airline’s ongoing evolution, reported PTI.Facing persistent financial losses, Air India launched an ambitious restructuring strategy in 2022. Wilson noted that the airline had previously lacked the investment levels typically seen in other carriers, which had hindered its appeal as a Star Alliance partner. “Three years ago, the airline had no active interline arrangements with Star Alliance members,” he said. “Thanks to the commitment we have made to customer experience, fleet, expansion and quality, we have now established interline agreements with all of the […]

[ad_1] The Adani group firmly rejected these allegations as "baseless and mischievous". The Adani Group issued a statement on Monday clarifying that none of its ports process cargo originating from Iran or vessels under Iranian ownership, rejecting allegations of intentional sanctions violations.The Adani Group submitted a filing to the stock exchange, dismissing claims about connections between its entities and Iranian LPG as ‘baseless and mischievous’.This statement came after the Wall Street Journal published a report indicating that US prosecutors were looking into potential imports of Iranian LPG by Adani companies through their Gujarat-based Mundra port.The business conglomerate emphasised in its filing that their policy explicitly prohibits handling any Iranian cargo at their port facilities, including shipments from Iran or vessels flying Iranian flags.The group further specified that their operational policy excludes management or facilitation of any vessels owned by Iranian […]

[ad_1] Stock markets in the United States opened with a slight decline, surrendering a portion of their gains from May, which marked their strongest performance since 2023. During early Monday trading, the S&P 500 declined by 0.3%. The Dow Jones Industrial Average dropped 174 points, representing a 0.4% decrease, whilst the Nasdaq composite fell by 0.2%.This was driven by crude oil prices that surged more than 4%. Despite OPEC+ nations agreeing to boost their output further, market analysts noted this decision was largely anticipated by investors. Additionally, Ukrainian strikes within Russian territory over the weekend heightened concerns regarding global oil and gas distribution.Global trade tensions also contributed to the decline as Beijing dismissed US claims regarding breach of tariff reduction agreements. Simultaneously, tensions with the European Union escalated following Trump's proposal to increase steel duties twofold.This was in line with […]

[ad_1] Errol Musk in Delhi (ANI) NEW DELHI: Errol Musk, father of Tesla CEO Elon Musk, expressed admiration for India’s push towards green technology, saying he sees immense potential in the country’s commitment to sustainability and energy efficiency. Speaking to ANI, during his visit to Delhi, Musk shared his insights on India as a global power, its green energy landscape, its cultural heritage, and his association with an Indian company, Servotec.Regarding India's global geopolitical influence, Errol Musk gave his perspective saying, "India is a sleeping giant, there's no doubt about it. Now, with India having a GDP which is about the third or fourth highest in the world, it's absolutely incredible. It's ultimately a world power. What can I say except, it's terrific. I tell you why it's terrific, because Indian people seem to me to be very loving people. […]

[ad_1] The Ministry of Heavy Industries has released detailed guidelines for the “Scheme to Promote Manufacturing of Electric Passenger Cars in India” (SPMEPCI), which was originally announced on March 15, 2024. The scheme aims to attract domestic and global investment in electric vehicle (EV) manufacturing and support India’s broader environmental and industrial goals. Below are 10 key highlights from the newly notified framework:1. Lower customs duty for imported EVsApproved applicants will be allowed to import fully built electric four-wheelers (CBUs) with a minimum CIF value of $35,000 at a reduced 15 per cent customs duty for a period of five years from the date of approval.2. Minimum investment thresholdTo qualify, applicants must commit to investing at least Rs 4,150 crore (approximately $500 million) in EV manufacturing infrastructure within a three-year window.3. Mandatory localisation targetsCompanies are required to achieve a minimum […]