Business

[ad_1] NEW DELHI: DIAL, the Delhi airport operator, has divested its complete 50 per cent ownership in Delhi Aviation Services Pvt Ltd (DASPL) to Bird Flight Services (India) Pvt Ltd for nearly 13 crore. DASPL held the concession for operating bridge-mounted equipment at Terminal 3 of Indira Gandhi International Airport (IGIA), including ground power units, pre-conditioned air units and aircraft water supply services.According to a regulatory filing on Saturday, DIAL has transferred its 50 per cent shareholding in DASPL to Bird Flight Services for Rs 12.79 crore, as reported by news agency PTI.The filing indicates that DASPL is presently inactive with no business operations.Prior to this transaction, Bird Flight Services maintained a 25 per cent ownership in DASPL.This comes after a February PTI report suggested that DIAL, run by the GMR Group, was facing serious financial pressure and expected its […]

[ad_1] NEW DELHI: India’s pharmaceutical industry continues its rapid ascent on the global stage, driven by affordability, innovation, and inclusivity. Thesector recorded a 7.8 per cent year-on-year growth in April 2025, according to India Ratings, part of the Fitch Group, as quoted by Press Information Bureau (PIB) on Sunday.This growth reflects continued strong domestic demand and the introduction of new products. The country ranks third in the world in pharmaceutical production by volume and 14th by value. It is the largest global supplier of generic medicines, meeting 20 per cent of worldwide demand. India also plays a vital role in vaccine production, supplying 55 to 60 per cent of Unicef’s global vaccine needs. In 2023–24, the pharmaceutical sector recorded a turnover of Rs 4,17,345 crore, sustaining an annual growth rate exceeding 10 per cent over the last five years. The […]

[ad_1] AI-generated image (Made from Bing image creator) NEW DELHI: Stock markets are expected to be primarily influenced by corporate quarterly reports, foreign fund activity and worldwide market trends this week. Global trade agreements and their market impact will also be under close observation.Last week, the BSE benchmark index increased by 2,876.12 points or 3.61 per cent, while the Nifty rose by 1,011.8 points or 4.21 per cent."As the India-Pakistan conflict now stabilized and all major geopolitical events behind, investors' focus is likely to shift towards assessing the ongoing Q4 corporate earnings season," said Puneet Singhania, director at Master Trust Group, as quoted by PTI."Additionally, there is growing optimism around the possibility of an early India-US trade deal, which could provide further support to market sentiment," he added.Key global economic indicators and domestic developments will also affect investment flows and […]

[ad_1] Adani Defence & Aerospace partners with Sparton (Image credit: Adani Defence X handle) NEW DELHI: Adani Defence & Aerospace has entered into a binding collaboration agreement with Sparton (DeLeon Springs LLC), a subsidiary of Elbit Systems specialising in advanced Anti-submarine warfare systems.The Adani Group company on Sunday announced that this alliance represents a crucial move towards localising the assembly of sophisticated electronic systems and advanced Anti-Submarine Warfare solutions for Indian and international markets, as reported by news agency ANI.The company revealed that it's India's first private sector entity to provide domestically produced sonobuoy solutions- critical devices used in underwater surveillance and submarine detection. The collaboration will combine Sparton's proven ASW technology with Adani Defence’s capabilities in design, manufacturing, and maintenance, aiming to deliver mission-ready solutions for the Indian Navy.Sonobuoys play a vital role in enhancing Undersea Domain Awareness (UDA), […]

[ad_1] India’s coal imports in FY25, saw a modest decline of 1.7%, with total shipments falling to 263.56 million tonnes (MT) from 268.24 MT the previous year, according to data compiled by mjunction services ltd.Non-coking coal imports over the period stood at 167.10 MT in FY25 against the 175.96 MT in 2023-24. Coking coal imports also slipped to 54.08 MT, compared to 57.22 MT in the previous fiscal.Coal imports in March reflected a similar trend, falling to 22.79 MT from 23.96 MT in the same month last year. Within this, non-coking coal imports dropped slightly to 14.84 MT (from 15.33 MT), while coking coal volumes declined to 4.41 MT (from 5.34 MT).“There was a drop in import volume in March (and in 2024-25), which was in line with market expectation,” said Vinaya Varma, MD & CEO of mjunction. “As the […]

[ad_1] Gold price outlook: Axis Securities has observed that gold prices are exhibiting pressure amid significant macro changes. (AI image) Gold price outlook: Gold prices have experienced substantial decline, dropping approximately 7% from their highest point of Rs 99,358/10 grams recorded on April 22 on the MCX. The precious metal is currently at risk of ending below the 50-day moving average, something not seen since December.But where are gold prices headed and what should investors do if the gold rate dips to Rs 88,000 per 10 grams?According to Axis Securities, gold is currently testing the lower range of a 50-day moving average envelope (+3%), which has provided support during all decreases since November 2024.The firm has identified May 16 to May 20 as a vital period for possible trend changes. Their analysis indicated $3,136 as an essential support level in […]

[ad_1] US Federal reserve (File photo taken from X handle) Federal Reserve Chair Jerome Powell announced on Friday a planned workforce reduction of approximately 10 per cent over the coming years, according to a staff memo reported by AFP. Though the Federal Reserve operates independently, generating revenue from interest on securities and supervisory fees rather than congressional appropriations, Powell stressed on the value of periodic reassessment.“Experience here and elsewhere shows that it is healthy for any organisation to periodically take a fresh look at its staffing and resources,” he wrote in the memo, first reported by Bloomberg News. The strategy includes a “voluntary” deferred resignation programme for eligible staff at the Federal Reserve Board in Washington. According to the Fed’s 2023 annual report, the system employed 23,950 people nationwide, including roughly 3,000 at the Board and over 20,000 across the […]

[ad_1] The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with the Global Energy Alliance for People and Planet (GEAPP) to support early-stage climate-tech startups in India.The partnership aims to provide these startups with access to funding, mentorship, and growth opportunities.Under the agreement, GEAPP will launch the Energy Transitions Innovation Challenge (ENTICE)—a competitive platform offering rewards of up to USD 500,000 for impactful solutions aimed at accelerating the clean energy transition, news agency PTI reported.In addition to the prize money, investment support for selected startups will be facilitated through ecosystem partners such as Spectrum Impact and Avana Capital.Sanjiv, Joint Secretary at DPIIT, said the collaboration will pave the way for innovative clean energy startups to scale their technologies and contribute to India's long-term net-zero targets.The MoU was officially signed by DPIIT Director […]

[ad_1] NEW DELHI: India's chemical industry is well-positioned to capitalise on ongoing disruptions in European chemical operations, according to a recent analysis by B&K Securities, as reported by news agency ANI. The report highlights that high operational costs across the EU27 have eroded production efficiency, opening a window for Indian chemical manufacturers to expand their presence in the region. However, the opportunity comes with significantchallenges, including intensified competition from China and weakening demand within the European market. “EU’s struggles present Indian chemical companies with an opportunity to gain market share; however, they face hurdles such as Chinese predatory pricing — which undermines Indian competitiveness,” the report notes. China remains a dominant force in the global chemical sector, and its aggressive pricing strategies continue to pose a significant obstacle to Indian exporters aiming to grow their footprint in Europe. Compounding the […]

[ad_1] The Securities and Exchange Board of India (Sebi) resolved a total of 4,239 investor complaints through its online grievance redressal platform, SCORES, in the month of April, the market regulator said in a public notice on Friday.During the month, Sebi received 4,341 new complaints. As a result, the total number of unresolved complaints stood at 4,263 at the end of April, up slightly from 4,161 complaints pending as of March 31, PTI reported.The regulator also reported that the average time taken by listed companies and registered intermediaries to submit Action Taken Reports (ATR) during April was eight days. For complaints under First Level Review, the average resolution time was recorded at four days.SCORES, or the Sebi Complaint Redressal System, is an online platform that enables investors to file and track complaints against listed entities and Sebi-registered market intermediaries.As per […]