economy

jhg jhg jh ghgfj

In a recent development that is likely to boost employee morale, Infosys has announced a significant increase in performance bonuses for the first quarter of fiscal year 2024-25. The IT giant has distributed an average bonus of 80%, up from 60% in the previous quarter. This increase comes in the wake of a strong financial performance by the company, which reported a 7.1% rise in net profit.

On August 21, the Indian stock market saw continued positive momentum, with the Nifty 50 index marking its fifth consecutive session of gains. The index closed at 24,770.20, up by 71 points or 0.29 percent. The Sensex also ended the day on a positive note, rising by 102 points or 0.13 percent to close at 80,905.30.

India has banned exports of de-oiled rice bran, used in cattle feed, until January 31, 2025, to ensure domestic supply. The ban was previously in place until July 31.

Markets regulator Sebi on Tuesday proposed to rationalise the disclosure requirements in the offer document and reduce the rights issue processing time to make it a preferred route of fundraising.

Moody's Ratings on Tuesday said rated Indian companies will spend USD 45-50 billion annually over the next 1-2 years towards capex as companies boost capacity, with the country's most valued firm Reliance Industries alone accounting for 30% of the spendings.

On Tuesday, August 20, the Indian stock market experienced a notable boost, with the Sensex and Nifty 50 both closing significantly higher. The Sensex gained 378 points, or 0.47%, ending at 80,802.86. Similarly, the Nifty 50 rose by 126 points, or 0.51%, closing at 24,698.85. This upward trend was supported by positive global cues and market sentiment.

Union minister Dharmendra Pradhan on Tuesday emphasised the need to enhance exports from eastern India and sought cooperation from the state governments in the region, while underlining the government's commitment to ensure the region benefits from various free trade agreements under the export promotion policy.

President Murmu also said that for making India a developed nation by 2047, there is a need for self reliance on mineral production and mineral exploration.

Food Minister Pralhad Joshi on Tuesday launched a pilot project to transform 60 Fair Price Shops (FPS), also called ration shops, into 'Jan Poshan Kendras' across UP, Gujarat, Rajasthan, and Telangana, aiming to boost their viability and improve nutrition access.

Monetary policy must take a cautious approach if food inflation continues to persist, as such price shocks may not be short-lived and could contribute to broader inflation, according to a report titled Are Food Prices Spilling Over? authored by Reserve Bank of India Deputy Governor Michael Debabrata Patra and others.

There are signs of a revival of net exports as a lever of India’s growth as after the contraction in 2023- 24, outbound shipments from the country are undergoing an expansion in 2024-25 so far, according to the RBI’s monthly bulletin released on Monday.