Asset management companies launched 239 new fund offerings (NFOs) mobilising Rs 1.18 lakh crore in 2024, with sectoral or thematic equity funds emerging as the top choice of investors, according to a report by Germinate Investor Services Research. This was higher than 212 NFOs collecting Rs 63,854 crore in 2023 and 228 NFOs garnering Rs 62,187 crore in 2022.
Santiago Martin has funded Rs 1,368 crore to political parties between October 2020 to January 2024 through electoral bonds.
Rishabh Pant released by DC, Heinrich Klaasen pips Virat Kohli in retention price
Investors' wealth eroded by a whopping Rs 7.15 lakh crore during the morning trade on Friday as equity markets tumbled, driven by sharp fall in IndusInd Bank shares and unabated foreign fund outflows. The BSE Sensex tanked 708.69 points to 79,356.47 and the NSE Nifty plunged 286.35 points to 24,113.05. Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 715,739.19 crore to Rs 4,36,63,565.73 crore ($5.19 trillion) during the morning trade.
Gross GST collections grew 8.5 per cent to over Rs 1.82 lakh crore in November on account of increased sales spurred by the festive season.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece.
The combined market valuation of eight of the top-10 most valued firms surged Rs 1,21,270.83 crore last week, with Reliance Industries becoming the biggest gainer, in line with an outstanding rally in benchmark equity indices. Last week, the BSE benchmark jumped 1,027.54 points or 1.21 per cent. The BSE Sensex hit its record high of 85,978.25 on Friday.
Of the total Rs 63,288 crore invested through the route till July, Rs 52,356 crore was invested in equities, Rs 10,429 crore in debt, Rs 250 crore in the hybrid securities and Rs 190 crore in derivatives segment.
India's largest IT services firm TCS on Thursday reported a 4.99 per cent increase in its September quarter net profit at Rs 11,909 crore. The Tata Group company had reported a net profit of Rs 11,342 crore in the year-ago period, while in the preceding quarter, it had a post tax net of Rs 12,040 crore, a company filing said.
Mid-cap and small-cap mutual fund schemes have continued to attract strong investor interest, garnering nearly Rs 30,350 crore in inflows during the April-September period of the current financial year, driven by impressive returns delivered by these segments. In comparison, the cumulative inflow into mid-cap and small-cap funds stood at Rs 32,924 crore during the same period last year, according to data from the Association of Mutual Funds in India (Amfi).
The Congress declared Rs 526 crore as income from unknown sources which is 15.57 per cent of the total income of the national parties from unknown sources, the ADR said.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
Mukesh Ambani's Jio Financial Services (JFS) is set to seek shareholders' approval for its leasing subsidiary to acquire telecom equipment and devices worth Rs 36,000 crore ($4.33 billion) from Reliance Retail. Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of JFS, plans to enter the device leasing business, and the equipment will be deployed in broadband wireless connectivity and other services.
The government also announced that healthcare cover under the Ayushman Bharat insurance scheme will be extended to all ASHA and anganwadi workers and helpers.
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
Mirroring the growth in the wireless in local loop services segment, the cellular sector added 11.5 lakh (1.15 million) users in July, taking the overall subscriber base to 1.63 crore (16.3 million).
The Supreme Court has said it listed for Tuesday pleas on the vexed legal question of whether a husband should enjoy immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
Nine of the top 10 most valued companies witnessed a combined erosion of Rs 1,63,510.28 crore in market valuation last week, with Reliance Industries emerging as the biggest laggard.
The government on Wednesday said food grains worth Rs 3.63 crore (Rs 36.3 million) were damaged in 2009-10 fiscal in the godowns of Food Corporation of India (FCI), but this was over 70 per cent less than last year.
The Annual Plan for Railways in 2013-14 financial year is proposed at Rs 63,363 crore, Union Railway Minister Pawan Kumar Bansal said.
The Centre on Tuesday urged the Supreme Court not to hear this week the pleas on the vexed legal question of whether a husband should enjoy immunity from prosecution for the offence of rape if he forces his wife, who is not a minor, to have sex.
Mukhtar Ansari was subjected to slow poisoning in jail, Umar Ansari, the son of the gangster-turned-politician who died of cardiac arrest at a hospital in Uttar Pradesh's Banda, alleged early Friday.
Opposing the criminalisation of marital rape, which is sought by many petitioners before the apex court, the Centre has filed its preliminary counter affidavit in the top court.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
Ansari was taken to the Rani Durgavati Medical College in Banda from the district jail after his health deteriorated.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
According to estimates, a total of 11.80 lakh polling stations would be required to be set up across India for Lok Sabha polls this year.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The IT-BT minister claimed that the then BJP government did not merely charge a '40 per cent commission', as his party had claimed during the assembly election, but had collected a commission of more than 400 per cent.
The Uttar Pradesh government has challenged the order of a court in Meerut that acquitted all 40 people accused in a case related to the 1987 Maliana massacre, in which 63 people died.
Under the exception given in Section 375 of the IPC, sexual intercourse or sexual acts by a man with his wife, the wife not being minor, is not rape.
In financial year 2020-21, the BJP declared assets worth Rs 4,990 crore, up by 21.17 per cent to Rs 6,046.81 crore in 2021-22.
