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 24 May 2025 07:37 PM   EconomicTimes

Telangana CM Revanth Reddy seeks PM Modi's nod for Rs 24,269 cr Hyderabad Metro Phase-II, defence corridor status

Telangana Chief Minister A Revanth Reddy met Prime Minister Narendra Modi. He requested approval for the Hyderabad Metro Rail Phase-II project. The project costs Rs 24,269 crore. Reddy also sought recognition for the Hyderabad-Bangalore defence corridor. He highlighted Telangana's semiconductor ecosystem. Reddy requested support for India's Semiconductor Mission projects. He also asked to host the next DefExpo in Hyderabad.

 24 May 2025 06:08 PM   EconomicTimes

Stainless steel players to take up import issue at global summit in Mumbai next month

The Global Stainless-Steel Expo 2025, commencing June 4 in Mumbai, will address critical issues like rising stainless steel imports impacting domestic manufacturers. Over 10,000 professionals will explore solutions and opportunities, including demand creation, emissions targets, and R&D. The event aims to foster collaborations and innovation across sectors like renewable energy and EVs, leveraging India's impressive stainless steel CAGR.

 24 May 2025 05:20 PM   EconomicTimes

Demerger to bring strategic clarity, long-term returns for shareholders: Tata Motors chairman N Chandrasekaran

Tata Motors' Chairman N Chandrasekaran announced the demerger into Commercial Vehicles and Passenger Vehicles (including EV and JLR) is progressing as planned, promising strategic clarity and enhanced agility. Shareholders approved the demerger in early FY26, expected to be effective in the second half of 2025, with equivalent shares in both entities.

 24 May 2025 05:19 PM   EconomicTimes

Property prices rise in 48 cities in Q4 of FY25: NHB RESIDEX

National Housing Bank data reveals a rise in property prices across India. Forty-eight out of fifty cities saw an increase in the last quarter of 2024-25. Howrah and Thiruvananthapuram experienced a decline. The 50-city Housing Price Index shows a 7.5 percent annual increase. Eight key residential markets witnessed price appreciation. Interest rates on home loans also saw a slight moderation.

 24 May 2025 04:25 PM   EconomicTimes

SC stays Rs 5,712-crore GST notice for Paytm-owned First Games

The Supreme Court has put a hold on a Rs 5,712-crore GST notice issued to First Games, a real money gaming platform owned by One97 Communications. This decision follows a writ petition filed by First Games challenging the notice.

 24 May 2025 04:02 PM   EconomicTimes

LIC bags Guinness world record for selling highest number of life insurance policies in 24 hrs

Life Insurance Corporation of India has secured a Guinness World Record for selling the highest number of life insurance policies within a single day. On January 20, 2025, LIC's extensive network of 4,52,839 agents successfully issued 5,88,107 policies across India. This achievement was driven by the 'Mad Million Day' initiative led by MD and CEO Siddhartha Mohanty.

 24 May 2025 03:56 PM   EconomicTimes

Microfinance firm Fusion suffers 4th consecutive quarterly loss

Fusion Finance reported a net loss of Rs 165 crore for Q4 FY25, marking its fourth consecutive quarterly loss due to severe asset quality stress. Increased provisions for bad loans, totaling Rs 255 crore, significantly impacted profitability. The company is seeking extensions from lenders after breaching financial covenants on borrowings of Rs 4,763 crore.

 24 May 2025 03:40 PM   EconomicTimes

Oyo owned Belvilla acquires short-term rental platform MadeComfy

Belvilla by Oyo has acquired Australian short-term rental platform MadeComfy in a cash-and-stock deal, valuing Oyo at approximately $5 billion. The acquisition expands Belvilla's presence into Australia and New Zealand, adding over 1,200 assets to its portfolio. Oyo also acquired G6 Hospitality in December 2024 and anticipates significant revenue growth and profitability in the coming years.

 24 May 2025 03:26 PM   EconomicTimes

Uttarakhand Mining revenue crosses Rs 1100 crore in FY 2024-25

Under Chief Minister Pushkar Singh Dhami, Uttarakhand's Mining Department has generated over Rs 1100 crore in revenue for fiscal year 2024-25. This achievement counters doubts about transparency in the mining sector. The state government curbed mining scams and mafia culture. Uttarakhand's mining model is now being studied by other states.

 24 May 2025 02:54 PM   EconomicTimes

Domestic air passenger traffic rises 10% in April, ICRA projects 7-10% growth for FY26

India's domestic air travel experienced a 10.2% year-on-year increase in April 2025, reaching 145.5 lakh passengers, although remaining flat month-on-month. For FY2025, domestic traffic rose 7.6% to 1,653.8 lakh, surpassing pre-Covid levels. International passenger traffic for Indian carriers also saw a strong 14.1% growth. ICRA maintains a stable outlook for the aviation industry, projecting continued growth in FY26.

 24 May 2025 02:21 PM   EconomicTimes

Train disruptions loom for Chennai's Northern suburbs on May 24 & 26 amid engineering works

Chennai's northern suburban train passengers will face significant disruptions on May 24 and 26 due to a four-hour maintenance block. Southern Railway has cancelled 21 EMU and MEMU services, partially affecting two others, impacting commuters in Gummidipoondi, Ennore, and Minjur. While 10 special train services are arranged, commuters worry they won't suffice, especially during peak hours and weekends.

 24 May 2025 12:17 PM   EconomicTimes

Gold jewellery sales in India remain subdued amid high prices and economic uncertainty

High gold prices and economic uncertainties subdued gold jewellery sales in India during April and early May, except for Akshaya Tritiya. Consumers deferred purchases, opting for lighter jewellery. While large retailers saw increased sales due to promotions, smaller jewellers experienced declines. Bullion and low-weight coins performed well, especially online, indicating a shift towards organized players and investment-oriented gold.

 24 May 2025 11:35 AM   EconomicTimes

Venus Remedies gets Ukrainian GMP renewal certification

Venus Remedies has received renewed GMP certification from Ukraine. This certification applies to its Baddi facility. It covers cephalosporin, non-cephalosporin, and oncology production lines. The company aims to strengthen its presence in Ukraine and PIC/S markets. This will facilitate international growth. The Ukrainian pharmaceutical market is expected to grow. Venus Remedies plans to expand its product portfolio in the region.

 24 May 2025 10:52 AM   EconomicTimes

Apple’s India math: Why Trump’s tariff may not dent the iPhone’s desi future, explained

Despite potential tariffs, Apple is increasing its iPhone production in India due to significantly lower labor costs compared to the U.S. Even with a 25% import duty, Indian assembly remains far more economical. Foxconn's massive investment in India, supported by government incentives, solidifies India's position as a key manufacturing hub for Apple, potentially surpassing China.

 24 May 2025 10:09 AM   EconomicTimes

Analjit Singh transfers Lutyens’ Delhi bungalow to Vstar Ventures in Rs 152-Crore internal deal

Analjit Singh of Max Group has transferred a prime bungalow in Lutyens' Delhi to Vstar Ventures for Rs 152 crore as part of a family reorganisation. The transaction, involving Delhi Guest Houses Pvt Ltd and Vstar Ventures, both owned by Singh, includes a significant stamp duty payment.

 24 May 2025 09:20 AM   EconomicTimes

Made in India iPhones will still be cheaper in US, even with Trump's 25% tariff: GTRI Report

A Global Trade Research Initiative report indicates that manufacturing iPhones in India remains more cost-effective than in the U.S., even with a potential 25% tariff. The significant difference in labor costs, with Indian assembly workers earning considerably less than their U.S. counterparts, offsets the tariff impact. Apple's profit margins would be drastically reduced if production shifted to the U.S.

 24 May 2025 05:00 AM   EconomicTimes

Trump threatens 25% tariff on iPhones not made in US, targets India production

US President Donald Trump has threatened to impose a 25% tariff on iPhones sold in the US unless they are manufactured in the country, and not in India or elsewhere. The statement, posted on Truth Social, follows his recent remarks advising Apple CEO Tim Cook against producing in India. Experts view this as a pressure tactic aimed at securing better trade terms with India.