Foreign exchange and currency risk management Lumon Corporate has agreed to acquire the business and assets of Fiscal FX, marking a major milestone for Lumon as it continues to expand its breadth and quality of service. Fiscal FX represents the seventh acquisition by Pollen Street Capital-backed Lumon since 2018. The acquisition is expected to be completed later this spring and will help accelerate growth in…
Garmin Expands Retail Footprint with Exclusive Experience Store in Connaught Place, Delhi
New Delhi, Apr 20: Garmin, a global leader in GPS-enabled wearables and performance technology, has announced the launch of its Exclusive brand store, marking a significant step in strengthening its retail presence in the region. Located at No. 6, C Block, Middle Circle, Connaught Place, New Delhi, the store is designed as an immersive experience centre, bringing together Garmin’s full ecosystem of performance and navigation…
India’s Economy Remains Resilient, Equities Near Correction Zone: HDFC Securities
New Delhi, Apr 20 (BNP): India’s macroeconomic outlook continues to show resilience despite ongoing global uncertainties, even as domestic equity markets appear to be entering a phase of near-term correction, according to a latest assessment by HDFC Securities. The report observed that India’s growth remains supported by strong domestic demand, steady consumption trends, and continued government-led infrastructure spending. These factors are helping cushion the economy…
FTA Partners’ Share in India’s Trade Rises to 28.8 pc: NITI Aayog
New Delhi, Apr 20 (BNP): India’s trade engagement with its Free Trade Agreement (FTA) partners has strengthened, with their share in the country’s overall trade rising to 28.8%, according to an assessment by NITI Aayog. The report highlights that while trade diversification is gradually improving, India’s export basket remains heavily concentrated in gems and jewellery, indicating continued reliance on a limited range of high-value export…
Over 39,000 Users Voluntarily Surrender LPG Connections as PNG Adoption Rises
New Delhi, Apr 20 (BNP): A nationwide appeal to encourage a shift towards cleaner cooking fuel has gained strong response, with more than 39,000 piped natural gas (PNG) users voluntarily surrendering their LPG connections, according to official data. The initiative, aimed at promoting cleaner and more efficient energy usage, is part of the government’s broader push to expand the adoption of piped natural gas as…
Meesho Allocates Over 94.79 Lakh Shares to Employees Under ESOP Scheme
New Delhi, Apr 20 (BNP): E-commerce platform Meesho has allotted 94,79,380 equity shares to eligible employees under its Employee Stock Ownership Plan (ESOP), reinforcing its focus on employee participation in long-term value creation. According to a regulatory filing, the allotment was approved by the company’s Nomination and Remuneration Committee through a circular resolution. The shares, with a face value of ₹1 each, have been issued…
SAEL Launches 600 MW Solar Plant in Andhra Pradesh, Boosts Clean Energy Capacity
New Delhi, Apr 20 (BNP): SAEL Industries has operationalised a 600 MW solar power project in Kurnool, Andhra Pradesh, further strengthening India’s renewable energy infrastructure. The large-scale project, spread across over 2,400 acres, has been developed in two units of 300 MW each through its subsidiary companies. The plant will feed clean electricity directly into the national grid, contributing to the country’s increasing reliance on…
India, South Korea Push to Upgrade CEPA to Deepen Trade and Investment Ties
New Delhi, Apr 20 (BNP): India and South Korea have renewed efforts to strengthen their economic partnership, with Union Commerce Minister Piyush Goyal holding discussions with his South Korean counterpart on upgrading the existing Comprehensive Economic Partnership Agreement (CEPA). The talks focused on making the trade pact more aligned with current global economic dynamics, with both sides exploring ways to enhance market access, streamline trade…
Rupee Edges Higher to 92.78 as Crude Oil Slumps Over 5 pc, Easing Import Pressure
Mumbai, Apr 20 (BNP): The Indian rupee opened on a firmer note on Monday, gaining 13 paise to 92.78 against the US dollar, supported by a sharp decline in global crude oil prices and a mildly improved risk tone in early trade. The domestic currency found relief as Brent crude, the global oil benchmark, fell more than 5% to $95.21 per barrel, easing concerns over…
Trade Deals, Softening Oil Prices May Help Narrow India’s Trade Deficit: BoB Report
New Delhi, Apr 20 (BNP): India’s record trade deficit is expected to ease in the coming months, supported by anticipated trade agreements and a possible decline in global crude oil prices, according to a recent report by Bank of Baroda. The report notes that elevated imports, particularly of energy products, have been a key driver of the widening trade gap in recent months. However, easing…