Business

[ad_1] The locomotive engine is capable of transporting 4,600 tonnes of freight. Indian Railways’ first 9,000 HP electric locomotive engine was unveiled by PM Narendra Modi in Dahod on Monday. PM Modi inaugurated the locomotive manufacturing shop at Dahod's rolling stock workshop.PM Modi is on a two-day tour of Gujarat on May 26 and 27, during which he will inaugurate multiple development initiatives in Dahod, Bhuj, and Gandhinagar. These projects, including significant Indian Railway undertakings and state government schemes, are collectively worth more than Rs 24,000 crore.India’s first 9,000 HP locomotive & Dahod locomotive workshop: Top Things to KnowThe Dahod locomotive manufacturing workshop's foundation stone was laid in 2022 and within a span of 3 years, this production facility stands completed.The Railway Ministry project has been built with an investment of Rs 21,405 crore.The 9,000 HP locomotive engine has been […]

[ad_1] Global markets saw mixed movement on Monday after the US President Donald Trump announced he would postpone imposing a 50% tariff on European Union goods, shifting the deadline from June 1 to July 9. The move offered some relief to investors after Trump had earlier warned that EU trade talks were "going nowhere" and threatened steep tariffs.He also warned that mobile phone manufacturers could face 25% duties unless they moved production to the US, fueling broader market uncertainty.US futures showed positive movement, with S&P 500 futures rising 1% and Dow Jones Industrial Average futures advancing 0.8%.Asian markets displayed varied performance, with Tokyo's Nikkei 225 rising 0.7% to 37,427.48 and Seoul's Kospi increasing 1.2% to 2,622.07. However, Hong Kong's Hang Seng declined 1% to 23,370.94, whilst Shanghai's Composite Index decreased 0.3% to 3,338.42. Australia's S&P/ASX 200 remained relatively stable at […]

[ad_1] Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting May 26, 2025) are Kaynes Technology and Marico. Let’s take a look:Stock NameCMP (Rs)Target (Rs)Upside (%)Kaynes Technology6025730021%Marico70280014%Kaynes TechnologyKAYNES is poised for strong FY26 growth with a revenue target of INR45b, driven by higher-margin new orders, operating leverage, and expansion across key verticals such as automotive, aerospace, industrial, and medical. HDI PCB & OSAT commercialization is planned for 4QFY26. Chennai PCB facility targets ~30% margin (global clients) while OSAT is expected to deliver ~20%. Combined revenue target is ₹25B in FY27, doubling to ₹50B by FY28. KAYNES targets USD 1B revenue by FY28. Recent acquisitions have enhanced its global presence & opened new growth opportunities, with future focus on high-margin ODMs & expansion in South Asia […]

[ad_1] NEW DELHI: In a major upset in the Indian smartphone market, Apple overtook Chinese giant Xiaomi in sales during the first quarter of this year, cracking the Top 5 ranking in terms of market share.While Apple has gained from rising demand for its premium iPhones, the fall for Xiaomi - which is now ranked sixth according to the latest IDC numbers - has been unprecedented considering that the company dominated the Indian market for several years, lording over top global, while also decimating homegrown players such as Micromax, Lava, and Karbonn.The category is now led by fellow Chinese Vivo, which is sitting on top of the pile, followed by Samsung, Oppo, realme, and Apple (see graphic). While Samsung stayed flat, Vivo and Oppo also gained market share, with almost all players expanding at Xiaomi's expense.Apple's juggernaut seems to be […]

[ad_1] MUMBAI: Dutch technology investor Prosus will use a mix of investments and acquisitions to bolster its play in India, where it is seeking to build a portfolio worth $50 billion in the years to come, Group CEO Fabricio Bloisi, who took over the top job in July last year, said.The firm's approach will not be like that of a venture capital (VC) investor looking to close a series of deals at a faster clip. The strategy will rather be to build an ecosystem by investing in or acquiring companies within its core sectors, which can potentially open up opportunities for cross-selling among its portfolio firms and unlock faster growth for the broader portfolio.India, where Prosus will be allocating most of its resources alongside Europe and Latin America, is a market with a lot of potential, Bloisi said, adding that […]

[ad_1] MUMBAI: RBI has acknowledged that government's ownership of public sector banks makes its risk management job easier. In its latest economic capital framework report, RBI notes that such ownership has "demonstrably reduced the potential losses" it might face when offering emergency liquidity assistance (ELA), warranting lower capital buffers for these entities.In other words, govt-owned lenders are being treated as a safer bet - because govt behaves like a parent company with deep pockets. The "inherent strength due to sovereign ownership" makes public banks less risky for RBI to backstop and lightens the capital load it must carry to do so."The present review proposes to account for the inherent strength due to sovereign ownership in case of PSBs, while assessing the recovery rates," the report states. This approach is justified, RBI argues, by govt's track record: "Govt had infused an […]

[ad_1] NEW DELHI: From combing regulations at the Centre and in the states to make it easier for companies to invest, tailoring packages, and making investment pitches to global corporations, govt is seeking to ensure that foreign direct investment (FDI) flows into the country remain strong.India saw FDI inflows increase by 13.6% to $81 billion, and govt is keen to build on that despite growing protectionism in the US and other countries."There is a lot of work going on with the states; we are nudging and helping them to put in place an easier regulatory framework, decriminalise laws, and have a single window system that is being benchmarked," Amardeep Singh Bhatia, secretary for promotion of industry and internal trade told TOI. To clear proposals, the states are being encouraged to have a single window system that lists out the number […]

[ad_1] CHENNAI: Stress in the sector has left microfinance institutions bleeding. Listed MFIs have either reported a loss or a substantial decrease in their profits in the March quarter. This comes on the back of multiple factors including deterioration in asset quality, rising credit costs, borrower overleveraging and rising borrower overlaps that impacted the performance of microfinance companies during FY25. Muthoot Microfin posted a loss of Rs 401 crore in Q4 FY25 while Fusion Finance ((formerly Fusion Micro Finance) reported a loss of Rs 164 crore during the same period. Microfinance lender CreditAccess Grameen's net profit dropped by 88% to Rs 47 crore in Q4 FY25 against Rs 397 crore in the year-ago period. Satin Creditcare Network's standalone PAT in Q4 FY25 declined by 67% to Rs 41 crore from Rs 125 crore during the year-ago quarter. Mahendra Patil, founder […]

[ad_1] Bharti Airtel has reached out to Reliance Jio and Vodafone Idea (VIL) with a proposal for a joint industry initiative to combat the rising menace of telecom fraud and scams, the company has informed the government and the Telecom Regulatory Authority of India (Trai).In separate communications to the telecom firms, Airtel highlighted alarming data showing that India recorded over 1.7 million cybercrime complaints in the first nine months of 2024, with reported financial losses exceeding Rs 11,000 crore.Urging all telecom operators to collaborate, Airtel stressed the importance of unified industry efforts to protect vulnerable individuals from increasingly deceptive digital scams, PTI reported. The company has already implemented a fraud detection solution aimed at blocking rogue websites on communication and social media platforms such as WhatsApp, Telegram, Facebook, and Instagram."However, given the recent alarming rise in phishing attempts and malicious […]

[ad_1] Reliance General Insurance, a subsidiary of Reliance Capital recently acquired by IndusInd International Holdings Ltd (IIHL), posted a 12.5% increase in net profit to Rs 315 crore for the financial year ended March 2025, as the company recovers from nearly three years under insolvency proceedings.The company’s Gross Direct Premium (GDP) rose 7.4% year-on-year to Rs 12,548 crore, outpacing the general insurance industry’s overall growth of 5.2%, according to a company statement. Net worth also saw a 10.2% rise to Rs 3,429 crore during FY25, PTI reported.IIHL, backed by the Hinduja Group, acquired Reliance Capital via the insolvency process concluded in March 2025 and subsequently infused Rs 100 crore into Reliance General Insurance in May 2025 to further strengthen the company’s financial position and accelerate growth.During the insolvency resolution process itself, the new promoter had injected Rs 300 crore in […]