Business

[ad_1] India’s top listed real estate firms recorded a blockbuster performance last fiscal, with property sales surging past Rs 1.62 lakh crore, marking a jump of over 20% from the previous year. Leading the charge was Godrej Properties, which emerged as the biggest seller among 26 major listed players, clocking pre-sales worth Rs 29,444 crore.The data, compiled from investor presentations and regulatory filings, shows that the growth was largely powered by residential projects, particularly in the luxury segment, while commercial sales made up a smaller share.DLF Ltd, the country’s largest developer by market capitalisation, secured the second spot with Rs 21,223 crore in bookings, up from Rs 14,778 crore in the previous fiscal. The company’s standout performer was its ultra-luxury project The Camellias in Gurugram, which saw strong buyer interest.Mumbai-based Macrotech Developers, known for its Lodha brand, followed close behind […]

[ad_1] Private sector lender HDFC Bank has reduced its benchmark lending rates following the Reserve Bank of India’s (RBI) unexpected decision on Friday to cut the repo rate by 50 basis points in a bid to revive the slowing economy.The bank revised its marginal cost of funds-based lending rates (MCLR) downward by 10 basis points across all loan tenures. According to its website, the new rates came into effect on 7 June. The overnight and one-month MCLR now stands at 8.90%, the three-month at 8.95%, and the six-month and one-year tenures are down to 9.05%. The two- and three-year rates have been trimmed from 9.20% to 9.10%.The changes follow the RBI’s latest policy review, in which the central bank not only delivered a sharper-than-expected 50 basis point repo rate cut to 5.5% but also surprised markets by reducing the cash […]

[ad_1] Indian fashion e-commerce giant Myntra has set its sights on international expansion, beginning with Singapore, where it launched its Myntra Global platform last month to cater to the growing Indian diaspora.Nandita Sinha, CEO of the Bengaluru-based company, said the move marks the beginning of a long-term global ambition. “With the launch of Myntra Global in Singapore, we're also laying the foundation for our global foray, with a long-term aspiration to serve the Indian diaspora beyond India,” she said on the sidelines of NRF 25, a major international retail summit held in Singapore from June 3 to 6.The platform is specifically targeting the 6.5 lakh-strong Indian community in Singapore. According to Sinha, Myntra had already noticed a steady stream of organic traffic from Singapore, around 30,000 users monthly, to its Indian website, signalling strong potential in the region.Since its official […]

[ad_1] Nine of India’s ten most-valued companies collectively added Rs 1,00,850.96 crore to their market capitalisation last week, lifted by broadly positive sentiment in the equity markets. Reliance Industries and HDFC Bank led the gains, reflecting investor confidence.The benchmark BSE Sensex rose by 737.98 points, or 0.90%, during the week, helping major firms register healthy growth in their market worth.Reliance Industries stood out with the biggest increase, adding Rs 30,786.38 crore to take its market valuation to Rs 19,53,480.09 crore. HDFC Bank followed closely, gaining Rs 26,668.23 crore and pushing its valuation to Rs 15,15,853.85 crore.Other gainers in the top-10 list included:Bajaj Finance, which added Rs 12,322.96 crore, reaching Rs 5,82,469.45 crore in mcapICICI Bank, up by Rs 9,790.87 crore to Rs 10,41,053.07 croreHindustan Unilever, gaining Rs 9,280.89 crore at Rs 5,61,282.11 croreBharti Airtel, up Rs 7,127.63 crore to Rs […]

[ad_1] For India to achieve its goal of becoming a $ 7-trillion economy by 2030, the country needs to strengthen its industrial sector, according to Smadja. (AI image) India overtaking Japan to become the fourth largest economy soon is not something to be complacent about, World Economic Forum’s (WEF) former MD Claude Smadja has said. Giving a reality check, Claude Smadja has pointed to India’s abysmal per capita GDP numbers, comparing them to how poorly they fare to Japan’s per capita income.India’s GDP ($4,187 billion) is set to surpass that of Japan ($4,186 billion) by the end of this year (FY26), according to the IMF's latest World Economic Outlook report. However, the IMF statistics from April 2025 also reveal that India's GDP per capita stands at $2,878.4, which is roughly 8.5% of Japan's $33,955.7. This means that people in Japan […]

[ad_1] Planning to buy a car or a house? Your loan just got cheaper. Bank of Baroda, one of India’s top public sector banks, has slashed its repo linked lending rate (RLLR) by 50 basis points, following the Reserve Bank of India’s latest policy cut. With the new rate of 8.15% now in effect from June 7, borrowers could see reduced EMIs on home, auto and business loans.The move is set to make loans for homes, cars, and businesses more affordable, potentially boosting credit demand across sectors. Several other banks are also lowering interest rates in response to the central bank’s decision.The rate cut comes after the Reserve Bank’s Monetary Policy Committee (MPC) announced a 50 basis point reduction in the repo rate, bringing it down to 5.5%. The central bank’s Governor, Sanjay Malhotra, said the decision was driven by […]

[ad_1] Maharashtra and Karnataka emerged as the top magnets for foreign investment in India, together accounting for more than half of the country’s total FDI.Overall, India’s total FDI, comprising equity inflows, reinvested earnings, and other capital, rose by 14% to $81.04 billion in 2024–25, marking the highest inflow in the past three years. In the previous fiscal, the country received $71.3 billion. As per the latest figures released by the DPIIT, the two states attracted 51% of the country's overall foreign direct investment during the 2024–25 financial year.Maharashtra led the chart, attracting FDI worth $19.6 billion, 31% of the national total between April 2024 and March 2025. Karnataka followed with overseas investments amounting to $6.62 billion.Other key recipients included Delhi ($6 billion), Gujarat ($5.71 billion), Tamil Nadu ($3.68 billion), Haryana ($3.14 billion), and Telangana ($3 billion).Experts said that the surge […]

[ad_1] DGTR suggested measures to protect domestic manufacturers from unfair import pricing. (AI image) India has slapped anti-dumping duties on insoluble sulphur imported from China and Japan. Additionally, the country has levied anti-dumping duty on vitamin-A palmitate imports originating from China, the European Union and Switzerland.Tyre producers utilise insoluble sulphur as a key component to enhance rubber vulcanisation processes, whilst vitamin-A palmitate finds applications in enriched food products and pharmaceutical manufacturing.This action was taken after the Directorate General of Trade Remedies (DGTR) suggested measures to protect domestic manufacturers from unfair import pricing.The Central Board of Indirect Taxes and Customs announced in two separate notifications issued late Friday that these duties take effect immediately and shall continue for five years, according to an ET report.Anti-dumping dutyBased on the investigation conducted in March, the DGTR discovered that these substances were being sold […]

[ad_1] NEW DELHI: India's top four oil suppliers and key members of the OPEC+ alliance, Saudi Arabia, Russia, Iraq, and the UAE have significantly ramped up production and directed a major portion of the additional output to India.Their collective market share has reached approximately 78% in India, the world's third-largest oil consumer. These nations have supplied an additional 375,000 barrels per day (bpd) to India in May compared to April, according to energy cargo tracker Vortexa.The collective increase surpassed their committed additional production of 359,000 bpd under Opec+'s output expansion plan of 409,000 bpd.Russia maintained its leading position among India's crude suppliers due to ongoing barrel discounts.In the OPEC+ May supply increase, Saudi Arabia agreed to raise output by 166,000 bpd, Russia by 79,000 bpd, Iraq by 37,000 bpd and the UAE by 77,000 bpd.Their exports to India increased by […]

[ad_1] NEW DELHI: Reserve Bank of India (RBI) deputy governor T Rabi Sankar was Saturday appointed as a part time member of the 16th Finance Commission, a finance ministry statement said. He will hold office from the date of assuming charge until the submission of the commission’s report or Oct 31, 2025, whichever is earlier.Sankar’s appointment is to fill the vacancy created by the resignation of one of the full-time members of the commission, Ajay Narayan Jha, on personal grounds.The commission was constituted on Dec 31, 2023. The commission is mandated to submit its recommendations by Oct 31, 2025, for the award period of five years, commencing from April 1, 2026. [ad_2] Source link