Gandhinagar, Aug 6 (IANS) Gujarat’s handloom sector is weaving a strong comeback with over Rs 290 crore worth of handloom products sold in 2024–25 by more than 246 handloom cooperative societies across the state, government officials said on Wednesday. Backed by the Gujarat government’s pro-weaver policies and strategic support under its ‘Package Scheme’, this growth highlights the revival of traditional textile arts and a push for economic empowerment through craftsmanship.As part of the sche…

Mumbai, Aug 6 (IANS) Air conditioner (AC) manufacturer Blue Star on Wednesday reported a sharp drop in its earnings for the first quarter (Q1) of FY26, with net profit falling 37.7 per cent quarter-on-quarter (QoQ) to Rs 120.82 crore from Rs 194 crore in the previous quarter (Q4 FY25). Revenue from operations also slipped 25.8 per cent on sequential basis to Rs 2,982.25 crore, down from Rs 4,018.96 crore in Q4 FY25, according to its stock exchange filing.The company attributed the decline to uns…

Mumbai, Aug 6 (IANS) The Indian stock market ended slightly lower after witnessing volatile trading on Wednesday, as investors showed mixed reaction to the Reserve Bank of India’s (RBI) decision to keep the repo rate unchanged at 5.5 per cent.Sensex settled at 80,543.99, down 166.26 points or 0.21 per cent. The 30-share index opened in negative territory at 80,694.98 against last session’s closing of 80,710.25 ahead of the RBI’s decision on rate cut in the morning. The index hit an intra-day low…

New Delhi, Aug 6 (IANS) Telecom industry body Cellular Operators Association of India (COAI) on Wednesday urged the government to bind OTT communication apps with the verified mobile SIM card of the users at all times.Currently, a subscriber’s app-based communication services such as WhatsApp are connected to their mobile SIM card only during installation and verification, after which the app works independently on the device even if the SIM card is removed or deactivated, COAI said.The industry…

Mumbai, Aug 6 (IANS) SEBI Chairman Tuhin Kanta Pandey on Wednesday termed media reports about curbing weekly expiries as “speculative”.”I am not aware of any such communication. Media reports are speculative, what we have been saying is out in the open,” the SEBI Chairman said.He added that reforms are needed, but the nature of those reforms is determined through a process.Following his statement, BSE shares entered the green zone after declining during the morning hours. BSE shares were trading…

New Delhi, Aug 6 (IANS) India’s installed solar PV module manufacturing capacity has reached 91.6 GW, according to the approved list of models and manufacturers (ALMM), the Parliament was informed on Wednesday. “The Ministry of New and Renewable Energy (MNRE), Government of India, has been consistently bringing out policies such as production linked incentive (PLI), domestic content requirement (DCR) and others to encourage domestic solar manufacturing,” Shripad Yesso Naik, Minister of State of …

New Delhi, Aug 6 (IANS) For the next leg of growth in India, it is time to look beyond monetary and fiscal support, and focus on structural reforms, in order to reach “aspirational” levels of growth, an HSBC Global Investment Research report said on Wednesday.On that front, some trade reforms were already underway – slashing tariffs on intermediate inputs, signing more trade pacts, welcoming FDI, and improving the business environment across states.”But for impact, these must run deep,” said the…

New Delhi, Aug 6 (IANS) Prime Minister Narendra Modi on Wednesday lauded Union Minister of State for Textiles, Pabitra Margherita, for highlighting the remarkable growth of India’s handloom sector. The Prime Minister’s Office, in a post on social media platform X, shared Margherita’s article on how India is weaving together heritage, innovation, and collective effort to inspire the world.“Union Minister of State for Textiles, Pabitra Margherita, writes about the growth of the textile sec…

New Delhi, Aug 6 (IANS) Morgan Stanley on Wednesday said that in terms of policy response, it sees the likelihood of another rate cut by the RBI in Q4 (likely in October policy) amid headwinds from tariff-related developments.In a unanimous vote, the RBI MPC kept the policy rate unchanged at 5.5 per cent, in line with expectations. All members voted to retain the stance at neutral.“The policy statement noted that the benign trend in the headline inflation print is likely to be transitory, on t…

New Delhi, Aug 6 (IANS) Indian Railways has significantly enhanced the travel facilities for the benefit of economically weaker passengers with the number of seats available for non-AC passengers increasing to 54 lakh, which constitutes 78 per cent of the total, while AC seats comprise the remaining 22 per cent, the Parliament was informed on Wednesday.Due to the higher availability of general coaches, the number of passengers travelling in general unreserved coaches has shown an increasing tren…