Category: Business & Economics

Indian Rupee Hits Record Low as Trump Leads in US Election: What This Means for India’s Economy

Manish Kumar

On Wednesday, the Indian rupee tumbled to an all-time low of 84.23 against the US dollar following early reports from the 2024 U.S. presidential election, showing Republican candidate Donald Trump in the lead over Democrat Kamala Harris. As markets responded to the emerging political landscape, the dollar surged, putting downward pressure on the Indian rupee and other Asian currencies. This volatility could have broader implications for India’s economy, especially in areas like trade, foreign investment, and inflation. This article unpacks the reasons behind the rupee’s sharp decline, explores the potential…

Bosch to Lay Off 7,000 Employees Amid Struggles in Automotive Sector

Manish Kumar

A Challenging Year for the Automotive Industry Amid a challenging economic climate for the automotive sector, German tech giant Bosch has announced significant layoffs, citing lower-than-expected returns on sales in 2024. As a leading supplier of essential automotive parts, Bosch is expected to lay off 7,000 employees across its German plants, with a focus on the automotive supply sector. The decision reflects broader difficulties facing the automotive industry, which has seen declining revenues and cost-cutting measures from major players. Bosch’s move highlights the struggles and shifting priorities within this sector…

Stock Market Tumbles: Sensex Drops Over 1,400 Points as Investor Losses Mount Amid Record Low Rupee

Manish Kumar

In a turbulent start to the week, Indian markets witnessed a significant decline, with the Sensex dropping over 1,400 points, marking one of its sharpest falls in recent months. The Nifty50, along with other broader indices, plummeted as persistent selling by foreign investors and a mix of global factors drove the downturn. Amid the shock, the rupee further weakened, reaching a record low against the U.S. dollar. With over Rs 8 lakh crore wiped from market capitalization, investor concerns are at an all-time high as they grapple with multiple economic…

Adani Power Halves Electricity Supply to Bangladesh Over Unpaid Dues

Manish Kumar

Adani’s Recovery Amidst Financial Tensions The Adani Group, one of India’s largest conglomerates, has faced a series of setbacks this year, including allegations of stock manipulation and accounting fraud. Despite these challenges, Adani has been working to restore its financial stability and reputation. However, recent developments in Bangladesh, where Adani Power Jharkhand Limited (APJL) supplies electricity, have complicated this recovery. Citing unpaid dues amounting to $846 million, Adani Power has reduced its electricity supply to Bangladesh, which is currently experiencing an energy shortage. The situation underscores the financial strain both…

Google India Announces Rs 1,424 Cr in Profits in FY24

Manish Kumar

In FY24, Google India achieved a 26% revenue growth, surpassing Rs 5,500 crore, while profit after tax rose by 6% to Rs 1,424 crore. Operating revenue increased to Rs 5,518 crore, up from Rs 4,504 crore in FY23, as per its RoC filing.   The company also saw a significant boost in other income, which surged by 106% to Rs 403 crore, elevating its total income to Rs 5,921 crore from Rs 4,700 crore in the previous fiscal year.   At the same time, the FY 2023-24, Google India completed…

NSE Expands Digital Reach: New Mobile App and Multilingual Website

Manish Kumar

The National Stock Exchange (NSE) has launched a new mobile app and expanded its website to support multiple languages, aiming to improve investor accessibility and inclusivity across India. The initiative is intended to foster a more inclusive investor ecosystem by making market data, educational resources, and trading tools accessible in regional languages, catering to a diverse user base. The new NSEIndia mobile app, now available on both the Apple App Store and Google Play Store, is designed to provide investors with an intuitive and secure way to track and manage…

A Guide to Enrolling in Ayushman Bharat

Manish Kumar

The Ayushman Bharat Senior Citizen Scheme allows individuals aged 70 years or older to apply through the website www.beneficiary.nha.gov.in or the Ayushman App, available on the Google Play Store. To register, beneficiaries must verify their identity and eligibility using Aadhaar e-KYC, which serves as the primary document to confirm age and residence. Family members can also register eligible beneficiaries via the mobile app or website by entering their mobile number and the OTP generated for the enrollment process. Additionally, beneficiaries can visit the nearest empanelled hospital for registration. The scheme is completely…

Allianz to Exit Joint Ventures with Bajaj Amidst Partnership Dispute

Manish Kumar

Allianz is moving forward with plans to exit its joint ventures with Bajaj, a decision stemming from long-standing disagreements between the two companies. Despite a partnership that has lasted over two decades, recent developments have escalated tensions to the point where the joint ventures are on the verge of collapse. The partnership has faced various challenges over the years, but recent disputes have intensified, prompting Allianz to reconsider its involvement. The two firms have been unable to reconcile their differences, leading to this significant turning point in their relationship. Allianz…

Adani Enterprises Posts Staggering 664% Profit Surge in Q2, Fueled by Core Infrastructure Investments

Manish Kumar

Record-Breaking Quarter for Adani Enterprises Adani Enterprises Ltd. (AEL), the flagship entity of the Adani Group, reported a striking 664% increase in net profit for the July-September quarter, climbing to ₹1,741 crore from ₹228 crore during the same period last year. The remarkable growth signals Adani’s successful push into high-growth sectors like logistics, renewable energy, and advanced infrastructure, all of which have been essential drivers behind this impressive quarter. Q2 Performance Snapshot The July-September results reflect a notable increase not only in net profit but also in overall revenue. AEL’s…

Unlimited Calls and Data at Rs 153: Jio’s Diwali Offer Brings Festive Relief to Millions

Manish Kumar

Reliance Jio’s Rs 153 plan is a great deal for JioPhone users looking for unlimited calls, data, and SMS benefits at an affordable price. With the addition of Jio TV and Jio Cinema subscriptions, the plan offers excellent value, especially for entertainment lovers. Reliance Jio, one of the leading private telecom service providers has launched a special offer on this Diwali (2024), which is expected to bring major relief to millions of customers who are troubled by expensive recharge plans. To combat this trouble, the telecom giant has introduced an…