New Delhi, May 21 (IANS) Growth across India’s private sector economy saw a marginal contraction in May amid the geo-political tensions, with HSBC Flash India PMI Composite Output Index standing at 58.1, compared to 58.2 in April, which signalled another marked expansion in private sector activity, it was announced on Thursday.Underlying data showed that a pick-up in growth across the service economy was offset by a weaker increase in factory production.After retreating in April, input price inf…
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New Delhi, May 12 (IANS) Indian IT stocks took a deep plunge on Tuesday, dragging the Nifty IT index down 3.73 per cent to its lowest level since May 2023 after OpenAI said it would launch a new company with $4 billion initial investment to help organisations build and deploy artificial intelligence.A weak earnings outlook for the sector from analysts also impacted the sentiments with Nifty IT index extending losses for a second session.It became the top sectoral loser on the National Stock Exch…
New Delhi, May 6 (IANS) India’s services sector activity strengthened in April, with the Purchasing Managers’ Index (PMI) rising to a five-month high of 58.8, because of robust domestic demand and increased business activity, the HSBC India Services PMI data showed on Wednesday.The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, which is the strongest pace of expansion since November.Moreover, new business inflows also grew at the f…
New Delhi, May 4 (IANS) India’s manufacturing PMI rose to 54.7 in April, up from 53.9 in March, as output, new orders (including exports) and employment all grew moderately, pointing to continued resilience in India’s manufacturing sector, the HSBC Flash India PMI data showed on Monday.April data showed mild recoveries in growth of new business intakes and production among Indian manufacturers, but rates of increase were still the second-weakest since 2022. Exports was a bright area, with fi…
New Delhi, April 23 (IANS) Private sector activity in India accelerated in April, supported by capacity expansion, better demand conditions, rising intakes of new work and tech investment, the HSBC ‘Flash India PMI Composite Output Index’ showed on Thursday.The seasonally-adjusted index, that measures the month-on-month change in the combined output of India’s manufacturing and service sectors – was up from a final reading of 57.0 in March to 58.3 in April.New orders rose at a quicker pace t…
New Delhi, April 14 (IANS) Around 100 per cent of Indian companies are planning to expand globally and are increasingly willing to take calculated risks despite rising geopolitical tensions, according to a new report.According to a survey conducted by HSBC, 98 per cent of Indian firms plan to increase cross-border trade and investment over the next five years which is the highest among all markets surveyed even as global uncertainty persists.Meanwhile, 94 per cent of Indian respondents said they…
New Delhi, April 9 (IANS) Entertainment conglomerate Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with a significant number of layoffs likely in its marketing division, according to a report.The Wall Street Journal said, citing sources, that the plans for the job cuts were initiated before Josh D’Amaro took over as the company’s chief executive officer in March.The layoffs are expected to impact less than 1 per cent of Disney’s total workforce. The company had aroun…
New Delhi, April 6 (IANS) India’s services sector continued to expand in March, supported by strong international orders and rising business confidence even as domestic new‑business growth eased, a report said on Monday.The HSBC India Services PMI report compiled by S&P Global said that India Services PMI or the headline figure remained above its long‑run average of 54.4.The seasonally adjusted HSBC India Services PMI Business Activity Index eased from 58.1 in February to 57.5 in March…
New Delhi, April 2 (IANS) India’s manufacturing PMI eased to 53.9 in March as disruptions linked to the conflict in the Middle East are reverberating through the global economy and weighing on Indian manufacturers, the HSBC Flash India PMI data showed on Thursday.Firms also faced an intensification of cost pressures, the steepest since August 2022. That said, companies mostly absorbed added expenses, as indicated by a modest uptick in selling charges that was the least pronounced in two years,…
New Delhi, March 30 (IANS) Finance hub GIFT City on Monday announced that banking assets at its International Financial Services Centre have crossed $106.7 billion as of February 2026, marking over seven‑fold surge from $14 billion in September 2020.The huge surge indicated a rapid scale‑up of India’s offshore banking ecosystem and reflected increasing global and domestic participation in India’s international financial services ecosystem, it said.The growth has been supported by an expa…