Business

[ad_1] India’s private sector activity picked up pace sharply in May, reaching its fastest rate of expansion in over a year, lifted by a surge in the services sector, as per the HSBC Flash PMI data released on Wednesday.The HSBC India Composite PMI Output Index climbed to 61.2 in May from 59.7 in April, the strongest growth seen since April 2024. This expansion was fueled by service providers, which saw the fastest rise in output in 14 months.The HSBC Flash India Services PMI Business Activity Index rose sharply to 61.2 in May from 58.7 in April, fuelled by solid demand, strong inflows of new business, and renewed confidence among firms."The increase was the most pronounced since April 2024. There was a mild loss of growth momentum in the manufacturing industry but service providers reported the fastest rise in output in […]

[ad_1] India’s organised sector added 1.45 million net to its formal jobs in March 2025, marking a 1.15% rise during the same month last year, as per the provisional payroll data released by the ministry of labour and employment on Wednesday.The data, compiled by the Employees’ Provident Fund Organisation (EPFO), tracks employment trends across firms employing 20 or more workers. In March, around 0.75 million new subscribers joined the EPFO, up 2.03% from February and 0.98% higher than in March 2024.“This growth in new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs,” the ministry said in a statement, quoted by ET.A sector-wise comparison revealed notable job growth in industries such as restaurants, cement, general insurance, and travel agencies.Youth remained the dominant force behind the surge in new employment. Of the […]

[ad_1] Apple in India: Foxconn is allocating $2.56 billion to its Devanahalli operation. (AI image) As Apple looks to diversify its supply chain away from China, the Taiwanese firm Foxconn is readying a 300-acre campus for its army of workers who assemble Apple products. The dormitories for Foxconn Devanahalli plant’s 30,000 workforce are in advanced stages of construction.Last week, US President Donald Trump's statement to Apple CEO Tim Cook: "I don't want you building in India," made during his Qatar visit to Doha, appears to have had little impact on the tech giant's strategic plans.Despite Trump's comments, Cook maintains that the majority of iPhones destined for the US market will be manufactured in India instead of China, with the company steadily progressing towards this objective.Evidence of this commitment is visible at Foxconn's Devanahalli facility in Karnataka. Operations continued normally at […]

[ad_1] The restructuring plan, which received approval from ABFRL's board in the previous year, entails the separation of the Madura Fashion and Lifestyle (MFL) division into a newly established entity — ABLBL (AI image) Aditya Birla Fashion and Retail demerger: ABFRL shares experienced a substantial decline of 67% to Rs 88.80 on the NSE during Thursday's trading session, on the record date for the previously sanctioned demerger of its Madura Fashion & Lifestyle operations into an independent listed company.The significant 67% reduction in share value can be attributed to the demerger specifications, which stipulate that ABFRL shareholders will obtain one equity share in Aditya Birla Lifestyle Brands Ltd (ABLBL) for each share owned in ABFRL, according to an ET report.The restructuring plan, which received approval from ABFRL's board in the previous year, entails the separation of the Madura Fashion and […]

[ad_1] India’s economy has remained resilient even as global economic growth continues to be weighed down by ongoing trade tensions, uncertain policies and muted consumer sentiments, the Reserve Bank of India, said in its latest report.The apex bank said that even though the temporary pause in tariffs provided some relief amid ongoing headwinds, the overall outlook still remains vulnerable.Emerging markets and developing economies, particularly in Asia, are likely to face major impacts, experiencing slower growth due to trade tensions, weak consumer confidence, and policy uncertainty. Furthermore, volatility in financial markets has become a key risk to global economic projections.However, India is showing steady progress, amid this global turmoil. High-frequency data from April indicated that both the industrial and services sectors are holding their ground. "Amidst these challenges, the Indian economy exhibited resilience. Various high frequency indicators of industrial and services […]

[ad_1] Gold price prediction: What is the outlook for gold and silver today and for the next few days? (AI image) Gold and silver price prediction: MCX Gold and MCX Silver have been volatile in the last few days with geopolitical events and Donald Trump’s tariff related developments weighing on investor sentiment.While gold is traditionally a safe haven asset, it has fallen from its peak in the last few sessions. What is the outlook for gold and silver today and for the next few days? What are the target levels investors should look at?Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group shares his views:MCX Gold OutlookMCX Gold has shown a bullish breakout from the lower end of its support zone, indicating a shift in sentiment and the potential for upward momentum. This breakout suggests that the recent […]

[ad_1] Asian equities slumped on Thursday, mirroring Wall Street’s sharp losses from the previous day, as concerns over the US economy weighed heavily on investor sentiment. Pressure on US Treasuries continued, amid fears that Donald Trump’s push for new tax cuts could further inflate the already massive federal deficit.Shanghai reversed yesterday's gains trading at 3,385.6, down 1.98 points or 0.06%. Hang Seng plunged to 23,754.21 losing 73.57 points or 0.31% while Nikkei continued in red dropping 331.85 points or 0.89% to reach at 36,967.13.Sout Korea's Kospi dipped to 2,592.3, down 33.38 points or 1.27% at 8.30 am.A weak auction of 20-year US government bonds raised fresh concerns about the country’s fiscal health, which came just days after Moody’s downgraded its top-tier credit outlook. The development halted a recent rally which was driven by reports of easing China-US trade tensions and […]

[ad_1] Top stocks to buy today (AI image) Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, Computer Age Management Services, and ONGC are the top buy calls for today, while Bosch is a sell call.Here’s his view on Nifty, Bank Nifty and the top stock picks for May 22, 2025:Index View: NiftyNifty had an inside bar formation after closing at a four day closing low on Tuesday. With 24800 breached with heavy volumes earlier this week, the same is now likely to act as resistance for sell on rise on Nifty as the index is now open to hit 214300 / 24100 on downside. After a 3300+ point rally from its April panic low to May high’s the index has barely retraced 450 odd points from its recent highs. […]

[ad_1] Representative image (Picture credit: IANS) Fraud-hit IndusInd Bank on Wednesday posted a record net loss of Rs 2,329 crore for the March quarter, its worst-ever performance, after the lender took a series of one-time hits to clean up its books and recognise past accounting lapses. The heavy quarterly setback followed deep-rooted governance failures, incorrect reporting of derivatives, and misclassification of microfinance assets, PTI reported.Fresh slippages soared to Rs 5,014 crore, with Rs 1,800 crore emerging from misclassified stress in the microfinance book now recognised as gross non-performing assets (NPAs). Additional deterioration was noted in the two-wheeler loan portfolio. The overall gross NPA ratio jumped to 3.13% as of March 31, from 2.25% a quarter ago and 1.92% in the same period last year.The March quarter results reflect the fallout from a whistleblower complaint, which led to internal audits and […]

[ad_1] A one-time tax relief proposed under the new Income Tax Bill, 2025 could significantly reduce capital gains tax liabilities for many individual taxpayers. The new Income Tax bill allows long-term capital losses (LTCL) incurred up to March 31, 2026, to be set off against any short-term capital gains (STCG) from tax year 2026–27 onwards. This marks a key departure from the current provisions under the Income Tax Act, 1961, which only allow LTCL to be set off against long-term capital gains (LTCG).The proposed change, found in Clause 536(n) of the new bill, enables broader capital gains tax planning and faster loss absorption.“Under clause 536(n) of the new tax bill, 2025 any capital loss, whether long-term or short-term, computed under the old Income Tax Act, 1961 and brought forward as on 31 March 2026, may be set off and carried […]