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Deloitte projects Indian economy to grow 7-7.2% in FY25

Deloitte India retained its growth forecast for India at 7-7.2% for the current fiscal year 2024-25, noting that the economy had expanded by 8.2% in FY 2024. The company attributed this growth to domestic factors such as moderating inflation, particularly in food items, improved rainfall and record Kharif production, increased government spending in the latter half of the year, and rising manufacturing investments, all of which were expected to contribute positively to the country's economic outlook. Rumki Majumdar, an Economist at Deloitte India, stated that higher capital inflows following ..

RInfra to invest Rs 100 Bn in Maharashtra defence project

The Anil Ambani family-owned Reliance Infrastructure has announced plans to invest Rs 100 billion over the next decade to create India’s largest integrated manufacturing facility for explosives, ammunition, and small arms in Ratnagiri, Maharashtra. The company stated that it had been allocated 1,000 acres in the Watad industrial area for developing the Dhirubhai Ambani Defence City (DADC). According to Reliance Infrastructure, this new export-oriented project will represent the largest Greenfield defence initiative in India by a private sector entity. The company further highlighted that, t..

RITES shares in focus after securing Rs 4.54 Bn turnkey contract

Shares of RITES have garnered attention following the company’s announcement that its previously awarded project management consultancy (PMC) contract from the Karnataka Mining Environment Restoration Corporation (KMERC) has now been converted to a turnkey contract. The company informed the exchange that the order, initially granted on a PMC basis for the construction of two railway private freight terminals (PFTs) at Dharmapura and Susheel Nagar in Ballari District under the Comprehensive Environment Plan for Mining Impact Zone (CEPMIZ), has been converted to a turnkey arrangement. The proj..