Sunday, October 25
Shares of Paras Defence and Space Technologies surged as much as 10% on Tuesday to Rs 1,066.50 on the BSE after the company said it has secured a license from the Department for Promotion of Industry & Internal Trade (DPIIT) to manufacture Light Machine Guns (LMGs). The company disclosed this development in an exchange filing.The license permits the company to produce MK-46 and MK-48 belt-fed Light Machine Guns, advanced and modernized weapons with an annual production capacity of 6,000 units each. The company said that the license, granted under the Arms Act, 1959, has lifetime validity, further bolstering Paras Defence’s position in the defense manufacturing sector.Paras Defence and Space Technologies’ order book currently exceeds Rs 850 crore as the company’s contribution from
India's Gross Domestic Product (GDP) is projected to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from the 8.2% growth recorded in FY24, according to first advance estimates released by the government on Tuesday.The projection is lower than the recent Reserve Bank estimate of 6.6 per cent for the current fiscal year ending March 2025. Releasing the first advance estimates of national income for 2024-25, the NSO said, "real GDP has been estimated to grow by 6.4 per cent in FY2024-25 as compared to the growth rate of 8.2 per cent in Provisional Estimate (PE) of GDP for FY2023-24".The data also revealed that real Gross Value Added (GVA) is expected to expand by 6.4% in FY25, down from 7.2% in FY24. In contrast, nominal GVA is projected to grow at 9.3% i
The Israel Ministry of Tourism (IMOT) has introduced a digital e-Visa system for Indian travelers, effective January 1, 2025. This new system aims to simplify the visa application process, eliminating physical paperwork. This marks a pivotal step in Israel's commitment to enhancing tourism accessibility and strengthening ties with India.The e-Visa platform allows Indian nationals to apply for visas entirely online, providing a faster, more efficient process. Applicants can complete the procedure from anywhere, at any time, through Israel's official government portal. The system also features reduced documentation requirements, making it particularly convenient for individual tourists. However, group visa applications will continue to be processed through traditional methods.This e-Visa pla
U.S. job openings unexpectedly increased in November, but a softening in hiring pointed to a slowing labor market. Job openings, a measure of labor demand, rose 259,000 to 8.098 million by the last day of November, the Labor Department's Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for October was revised higher to show 7.839 million vacancies instead of the previously reported 7.744 million. Economists polled by Reuters had forecast 7.70 million unfilled positions. The labor market is being supported by low levels of layoffs, but employers are hesitant to add more workers after a hiring spree during the recovery from the COVID-19 pandemic. Hires dropped 125,000 to 5.269 million in November. Layoffs were little changed at
The National Stock Exchange of India (NSE) on Tuesday, January 7 announced the addition of six securities in the Futures & Options (F&O) with effect from January 31, 2025. The stocks that will be included are Castrol India, Gland Pharma, NBCC, Phoenix, Solar Industries India and Torrent Power.The inclusions are based on the stock selection criteria as prescribed by SEBI in its August 30, 2024 circular and have been approved by market regulator Securities and Exchange Board of India (Sebi).The market lot and scheme of strikes of the above-mentioned securities will be informed to the investors on January 30, 2025 through a separate circular. The details of applicable quantity freeze will be available in the contract file which will be applicable for trading on January 31, 2025, the N
