India’s forex reserves increase to $698.95 billion
India’s foreign exchange reserves shot up by another $2.29 billion to $698.95 billion for the week ended June 13, data released by the RBI on Friday showed.
Read More
India projected to be fourth largest electric car manufacturer by 2030, China to lead: Report
The New York-headquartered agency predicts India’s electric car manufacturing capacity will outpace domestic demand by 11 lakh-21 lakh over the next five years. Targeting export markets will need “driving down costs” to compete with China, it said.
Read More
OYO-owned Innov8 sells 3% stake at Rs 1,000 crore valuation to expand co-working business
OYO-owned Innov8 sold a 3% stake at a Rs 1,000 crore valuation to expand its flexible workspace business. Raymond Family Office acquired nearly 2%. Founded in 2015, Innov8 has 30 centres across 10 cities, reporting a Rs 62 crore profit…
Read More
Sivasubramanian Ramann takes charge as PFRDA Chairperson: Finance Ministry
Sivasubramanian Ramann on Friday assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), according to a Finance Ministry statement.
Read More
India’s economy showing strong signs of growth: Report
India’s economic indicators are becoming more supportive of growth, according to the report released by Motilal Oswal Private Wealth (MOPW) on Friday.
Read More
Jefferies’ Chris Wood sounds alarm on India’s $13 billion stock sale spree, rejigs portfolio
The veteran strategist’s warning comes amid a surge in equity supply, which reached $7.2 billion in May and has already hit $6 billion in June — a rapid pace that could jeopardize the market’s strong rebound since early April.
Read More