Markets stage smart recovery; Sensex rises 191 points

Benchmark equity indices Sensex and Nifty closed higher for the third straight session on Friday, following gains in index majors L&T, ITC and Maruti and a record rally in the US markets after the Federal Reserve indicated three rate cuts

Forex kitty rises by $6.40 bn to $642.50 bn

India’s forex reserves increased by $6.4 billion to $642.49 billion for the week ended March 15, the Reserve Bank said on Friday. Photograph: Mohamed Azakir/Reuters In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.09

Byju’s shuts 30 out of 292 tuition centres

Edtech firm Think and Learn, which owns Byju’s brand, has closed 30 out of its 292 tuition centres, according to an official statement. Photograph: Dado Ruvic/Reuters Byju’s has shut down the centres as part of cost optimisation measures and aims

Akasa has enough pilots; will ensure there are no cancellations: CEO

Seeking to assuage pilot shortage concerns, Akasa Air’s chief executive Vinay Dube on Friday said the carrier has sufficient pilots and flyers should not expect any flight cancellations. Photograph: Akasa Air/X “We have plenty of pilots. We have given numbers

VW aims to drive in 15% sales growth this year

Volkswagen Passenger Cars is targeting a volume sales growth of about 15 per cent in the country in 2024, even as it expects the Indian passenger vehicle (PV) industry to grow by 5-7 per cent in the current year, its

Sensex, Nifty surge nearly 1% amid global rally

Benchmark equity indices Sensex and Nifty surged nearly 1 per cent on Thursday in tandem with a rally in global markets after the US Fed projected three rate cuts this year. Photograph: PTI Photo from the Rediff Archives Rising for

Base effect to hit life insurers’ March biz

New business premium (NBP) growth of life insurers in March is expected to be weak owing to the high base effect in the year-ago period due to revision in taxation norms for high-value policies, insurers said. In the Budget, Finance

M&M, Adani Total Energies join hands to set up EV charging infra

Mahindra & Mahindra on Thursday said it has tied  up with a unit of Adani Total Gas to establish electric vehicle charging  infrastructure across the country. Photograph: Toby Melville/Reuters The auto major and Adani Total Energies E-Mobility Ltd (ATEL) have

Slow capex growth may halt cement stocks’ rally

The recent price correction in broader markets has hit cement companies hard. Image used for representative purpose only. Photograph: Anindito Mukherjee/Reuters So far in the current month, smallcap firms like Visaka Industries, Andhra Cements NCL Industries, Sahyadri Indu­stries, and KCP

Ex-bureaucrats seek Green Credits scheme withdrawal

A group of 91 retired bureaucrats has appealed to the Centre to withdraw the Green Credits programme, which they claimed may facilitate diversion of forest land to private entities. Photograph: Rupak De Chowdhuri/Reuters “Quick, smooth and easy diversion of our