Mumbai, Feb 3 (IANS) Shiv Sena Uddhav Balasaheb Thackeray (UBT) on Tuesday claimed that Union Finance Minister Nirmala Sitharaman presented yet another budget in Parliament on February 1, which was a “magical collection of imaginary baits swapping the old unfulfilled promises for distant dreams of 2047”.The Thackeray camp in the party’s mouthpiece ‘Saamana’ editorial said, “While the government talked about 12 years of robust economic growth, the immediate aftermath of the 85-minute speech saw a…
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New Delhi, Feb 1 (IANS) Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Sunday criticised the Union Budget 2026-27, accusing the government of being disconnected from the country’s pressing economic and social challenges.In the response to the Budget, Gandhi said it had failed to address key issues confronting the nation, including unemployment, slowing manufacturing growth, capital outflows, declining household savings, and agrarian distress.”Youth without jobs. Falling manufacturing….
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman on Sunday announced a sharp hike in the Securities Transaction Tax (STT) on futures and options while presenting the Union Budget 2026-27 in Parliament.The move marks a significant increase in transaction costs for traders in the derivatives segment. Experts attributed intra-day’s stock market crash to hike in the charges.The STT on futures has been raised to 0.05 per cent from the earlier 0.02 per cent, amounting to a 150 per cent hike…
Mumbai, Jan 29 (IANS) Food delivery and quick commerce company Swiggy on Thursday reported a wider consolidated net loss of Rs 1,065 crore for the third quarter (Q3) of FY26, compared with a loss of Rs 799 crore in the same period last financial year (Q3 FY25).Despite the higher loss on a year-on-year basis, the company posted strong revenue growth, driven mainly by its food delivery and quick commerce businesses.Swiggy’s revenue from operations rose sharply by 54 per cent year-on-year (YoY) t…
Mumbai, Jan 20 (IANS) Indian electric vehicle maker Ola Electric Mobility Limited’s shares plunged more than 7 per cent on Tuesday after the company said its Chief Financial Officer Harish Abichandani had resigned and appointed Deepak Rastogi as his successor.“The Board approved the appointment of Deepak Rastogi as Chief Financial Officer of the Company, who would also be Key Managerial Personnel and part of Senior Management Personnel with effect from January 20, 2026,” the company said i…
Mumbai, Jan 14 (IANS) IT major Infosys on Wednesday reported a decline in its consolidated net profit for the October–December quarter (Q3 FY26), mainly due to the impact of the Indian government’s recent Labour Code norms.Infosys said its consolidated net profit fell 2.2 per cent year-on-year (YoY) to Rs 6,666 crore in the third quarter, compared with Rs 6,822 crore in the same period last financial year (Q3 FY25).On a quarter-on-quarter (QoQ) basis, profit dropped sharply by nearly 9.6 per…
Washington, Jan 14 (IANS) US President Donald Trump said the American economy has rebounded sharply in less than one year, citing strong growth, falling inflation, rising wages and record investment as evidence of what he called a historic turnaround.Speaking at the Detroit Economic Club, on Tuesday, Trump said the recovery followed what he described as severe economic damage under the previous administration.“Now after less than 12 months in office, I’m back in Michigan to report to you on th…
New Delhi, Jan 10 (IANS) The government in Pakistan is actively feeding ‘paper growth’ sectors that may bring some GDP growth but do not stimulate commercial investment — like real estate where the rich park their wealth and let it grow, according to a new report.Since 2019, the poorest 20 per cent of Pakistani households have seen their real monthly incomes plunge by nearly 12 per cent, said the Editorial in The Express Tribune.“In contrast, the wealthiest quintile enjoyed a 7 per cent incre…
Mumbai, Jan 6 (IANS) Shares of Tata Group retailer Trent Limited plunged sharply on Tuesday, rattling investors despite the company reporting double-digit revenue growth for the December quarter. The stock fell as much as 8.3 per cent to Rs 4,060.65 on the BSE, wiping out nearly Rs 13,000 crore in market capitalisation.The sharp sell-off came even as Trent posted a 17 per cent year-on-year (YoY) rise in standalone revenue to Rs 5,220 crore in the October–December quarter.However, investors foc…
Seoul, Jan 4 (IANS) Foreign ownership as a share of total market capitalisation reached its highest level in five years and eight months in December amid a rally in the South Korean equity market, a report showed on Sunday.Foreigners bought a net 3.5 trillion won (US$2.4 billion) worth of local shares in December, raising their stockholdings to 32.9 percent of total market capitalsation, the highest level since April 2020, according to a report published by the Korea Center for International Fin…