According to an official announcement from the firm, Shakti Pumps India has secured an order in Karnataka for the development of water pumping infrastructure for Rs 654 crore. For the design, production, delivery, transportation, installation, testing, and commissioning of standalone off-grid DC solar photovoltaic water pumping systems (SPWPS) totaling Rs 654.03 crores inclusive of GST,…
In order to strengthen the banking system, the Reserve Bank of India (RBI) recently announced a number of liquidity initiatives, including bond purchases through open market operations (OMO) and foreign exchange swaps. According to market players, the central bank frontloaded the measures in December, probably taking into account significant withdrawals throughout the month. The majority…
In November, industrial growth fell to a nine-month low, offsetting an increase in services, and India’s private sector activity grew at its weakest rate in six months. The S&P Global-compiled HSBC flash India Composite Purchasing Managers’ Index (PMI) fell to 59.9 this month from its final reading of 60.4 in October. The flash India Manufacturing…
Retail inflation figures for October have reached their lowest levels ever. The October print came in at 0.3% due to food inflation dropping to -3.7% from -1.4% YoY in September and GST reductions in apparel, transportation, and healthcare easing core inflation outside of commodities. Although this near-zero figure appears optimistic on the surface, what does…
Food inflation decreases to -5.02% in October, while CPI inflation falls to 0.25%. The government stated that CPI data shows the effects of the GST cut are evident in every sector. According to the government release, “the full month’s impact of the decline in GST, favorable base effect, and to drop in inflation of Oils…
Due to the GST reform, holiday and rural demand, and overall sales increased 40.5% year over year (YoY), India’s car retail sector reached a record high in October. The 42-day festival season from Dussehra to Diwali recorded record figures with a 21% YoY growth, solidifying it as the strongest festive cycle in India’s automotive history,…
India’s wholesale price inflation decreased to 0.13% in September, down from 0.52% in August, as food prices continued to decline, according to data released by the government on Tuesday. The Wholesale Price Index (WPI) inflation in September of the previous year was recorded at 1.91%.Retail inflation dropped to its lowest level in eight years at…
The Ministry of Finance revealed figures on Sunday that showed that India’s gross Goods and Services Tax (GST) receipts for May 2025 were Rs 2.01 lakh crore, a 16.4% increase over the Rs 1.72 lakh crore collected in May 2024. Following consecutive months of robust tax collections, this follows April’s record-breaking GST income of Rs…
Due to strong auto sales data, stronger GST revenues, and FII purchases over the week, the Indian equity market resumed its winning streak for the second week. However, Friday’s sell-off wiped out part of the weekly gains. The BSE Sensex increased 524.04 points, or 0.66 percent, to settle at 79,223.11 this week, while the Nifty50…
IT giant Wipro, based in Bengaluru, announced on Tuesday that its Rs 12,000 crore share purchase plan will begin on June 22 and end on June 29. The board of the IT behemoth approved a plan in April of this year to purchase up to 26,96,62,921 equity shares from its owners, or 4.91% of its…
