US consumer sentiment improved in June for the first time in six months, according to preliminary data released Friday by the University of Michigan, offering signs of economic stabilization as inflation remains subdued and trade tensions with China temporarily ease.The university’s closely watched Consumer Sentiment Index jumped to 60.5 in June from 52.2 in May…
Tesla has increased prices of its Model S and Model X vehicles in the United States by $5,000 following an update to the two premium electric models, the company announced Thursday via a post on X and updates to its official website.The price hike applies to all configurations of both models. With the adjustment, the…
BENGALURU: The National Company Law Tribunal (NCLT), Ahmedabad has admitted two separate insolvency petitions filed by Indian Renewable Energy Development Agency (Ireda) against Gensol Engineering (GEL) and its subsidiary Gensol EV Lease (GEVL), initiating corporate insolvency resolution processes (CIRP) against both companies.In the case of Gensol Engineering, the tribunal admitted Ireda’s petition for defaulted dues…
BENGALURU: The family of late investor Rakesh Jhunjhunwala has fully exited its stake in Nazara Technologies through open market transactions on Friday..According to stock exchange disclosures, Rekha Rakesh Jhunjhunwala, executor to the estate of late Rakesh Jhunjunwala, sold 27.2 lakh shares, worth Rs 333.8 crore, through bulk deals in the open market executed on both…
The Central Board of Direct Taxes (CBDT) has launched a probe into possible tax evasion and laundering of unaccounted income through investments in virtual digital assets (VDAs), including high-risk VDA transactions and cryptocurrencies, sources in the government said on Thursday.The tax authority is currently verifying individuals and entities engaged in high-risk VDA transactions who appear…
Amid a sharp spike in global crude prices following Israel’s airstrike on Iran, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said Friday that India has adequate energy supplies for the coming months and continues to navigate global energy volatility through a well-calibrated strategy.Taking to social media platform X (formerly Twitter), the minister…
Dilip Shanghvi & Kirti Ganorkar (From left to right) NEW DELHI: Sun Pharma announced that its India business head, Kirti Ganorkar will be elevated as the company’s managing director to succeed the founder, Dilip Shanghvi, effective September 1. The move is part of a structured and forward-looking succession planning process at Sun Pharma, underscoring the…
Global credit rating agency Moody’s Ratings on Friday upgraded Yes Bank’s long-term foreign and local currency bank deposit ratings to Ba2 from Ba3, citing a gradual improvement in the bank’s overall credit profile.The agency also raised Yes Bank’s Baseline Credit Assessment (BCA) by one notch to ba3 from b1, reflecting better capital adequacy and strengthened…
India’s foreign exchange reserves rose by $5.17 billion to reach $696.65 billion for the week ended June 6, according to data released by the Reserve Bank of India (RBI) on Friday. The increase reverses the previous week’s decline of $1.237 billion and brings the reserves closer to their record high of $704.885 billion touched in…
Equity investors suffered heavy losses over the past two trading sessions, as rising tensions in the Middle East and soaring global crude oil prices wiped out Rs 8.35 lakh crore from their portfolios.The NSE benchmark Nifty slipped 169.6 points, or 0.68%, to close at 24,718.The benchmark BSESensex also continued its downward streak for the second…
