Correspondent

Ford India shuts shop after a decade of bad business: How it went from accumulated losses of ₹1,764 crore in 2014 to ₹14,802 crore in 2021

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 Ford India, the Indian arm of American auto major, today announced that it is ending the manufacturing of vehicles in the country. The company has decided to shut down its car assembly plants in Sanand in Gujarat and  Chennai in Tamil Nadu, after suffering continuous losses for several years. The company will however keep the engine plant in Sanand running … Read more

PepsiCo India sets up its largest greenfield food plant in Mathura in Uttar Pradesh, a year after wrapping up business in Kerala

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PepsiCo India has chosen Uttar Pradesh to set up its largest greenfield foods plant to manufacture potato chips. UP CM Yogi Adityanath on Wednesday (September 15) inaugurated the leading global food and beverage company’s largest greenfield foods plant worth Rs 814 crore in Kosi Kalan in Mathura. It may be noted that the company had taken an exit route … Read more

Banks suffer due to bad loans, then economy suffers as banks lend less – Read how ‘Bad Bank’ will break this vicious cycle

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Yesterday the union cabinet approved the setting up of the National Asset Reconstruction Company (NARCL) with the objecting of cleaning the banking sector of bad loans. This institution has been dubbed as ‘Bad Bank’, because it will take over bad debt of nearly Rs 2 lakh crore from banks, cleaning the books of the banks. This is … Read more

NDTV share hits 10 per cent upper circuit over rumours of buyout: Here’s what it means

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NDTV shares on Monday zoomed to hit its upper circuit of 10 per cent after rumours started doing rounds that Adani Group is going to buy the company. As of 1:19 PM on September 20, the share price of NDTV was hovering around Rs 79.85, up by Rs 7.25 or 9.99 per cent today, which … Read more

BSE Sensex reaches 75,000 for the first time, surges 134 per cent in the last 18 months

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The BSE Sensex on Friday touched an important milestone, breaching the 60,000-mark for the first time ever as the 30-stock benchmark index continues to rally on the back of expanding Covid-19 vaccination coverage, eased restrictions on business activity and the government’s measures to boost the economy. Besides, NIFTY, another benchmark Indian stock market index that represents the weighted average of … Read more

India’s 200% import duty on Pakistani products: A just response to hostility, leaving Pakistan’s economy in tatters

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On 17th May, Pakistan’s Foreign Minister Ishaq Dar acknowledged that the trade ties with India went south after the Pulwama terrorist attack on 14th February 2019 in which India lost 40 brave soldiers. Following the attack, India took some immediate steps to reduce trade with the hostile neighbour including the imposition of 200% import duty. Firstly, India announced that … Read more

Singapore’s High Commissioner Simon meets UP CM Yogi Adityanath, hails connectivity and ease of doing business

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Singapore’s High Commissioner to India Simon Wong Wie Kuen on Saturday called upon Uttar Pradesh Chief Minister Yogi Adityanath. He said that Singapore firms are willing for investment in Uttar Pradesh due to connectivity and ease of doing business in the state. The meeting took place at the official residence of Yogi Adityanath in Lucknow. Simon was … Read more

Moody changes India’s ranking from ‘negative’ to ‘stable’: Will those maligned India now speak up?

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Rating agency Moody’s on Tuesday promoted India’s rating outlook to stable from the negative ranking earlier. It also affirmed India’s Baa3 rating, signifying that the country has robust growth prospects and its economy is on its path to recovery after two years of uncertainty caused by the coronavirus outbreak. In June 2020, roughly about 16 months ago, … Read more

Nitin Gadkari asks Tesla not to sell China manufactured cars in India, reveals his conversation with Elon Musk to set up manufacturing in India

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Amid the report of China freshly creating fresh disturbance at the LAC, Union minister of Road Transport and Highway Nitin Gadkari has said that he has told US-based electric vehicle (EV) manufacturer Tesla not to sell China-manufactured cars in India. Gadkari further disclosed a conversation he had with asked Elon Musk, the head of Tesla manufacture. “I have … Read more

Paras Defence: From being oversubscribed 304 times to up more than 370%, why India is betting big on it

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What would be your reaction if you were told that your money grows 5% everyday? Yes, you read that right, 5% upward everyday. Paras Defence and Space Technology is a company that got listed in the stock market just recently. The IPO was subscribed over 300 times, which in itself was a record in Indian … Read more