Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. In contrast, Mahindra & Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards.
More than 58% of individual housing loans disbursed in 2023-2024 were more than 25 lakh in size.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
The Reserve Bank of India on Monday tweaked norms related to acquisition and holding of shares in banks to ensure that their ultimate ownership and control remain well diversified and the major shareholders are 'fit and proper' on a continuing basis. The central bank has issued 'Master Direction - Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023'. "These directions are issued with the intent of ensuring that the ultimate ownership and control of banking companies are well diversified and the major shareholders of banking companies are 'fit and proper' on a continuing basis," it said.
The Enforcement Directorate on Monday said it has issued a Rs 611 crore show cause notice to Paytm's parent company and linked entities for "contravention" of the FEMA on various counts.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
US-based Citigroup is likely to allocate more global roles to India than to any other centre it operates in due to the country's strong talent pool, said Jane Fraser, chief executive officer of Citigroup, on Wednesday in an interaction with CNBC-TV18. Fraser also expressed confidence that India will remain the world's fastest-growing economy.
The metro, it seems, is politics-proof -- even if it comes at a high cost.
The US Fed interest rate decision, trading activity of foreign investors and quarterly earnings from corporates would largely drive the momentum in the equity market this week, analysts said. Escalating tensions between India and Pakistan over the Pahalgam terror attack will also remain on investors' radar, they added.
From the 30 Sensex companies, Zomato, Tata Motors, IndusInd Bank, Asian Paints, Bajaj Finance, Maruti Suzuki India, Adani Ports, Hindustan Unilever, Reliance Industries, Bajaj Finserv, UltraTech Cement and Infosys were among the laggards. In contrast, State Bank of India, ICICI Bank, Tata Steel, NTPC, Tata Consultancy Services, PowerGrid, Kotak Mahindra Bank and Sun Pharmaceuticals were the gainers.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
Haldiram has entered into an agreement with Temasek as part of which the Singapore-headquartered global investment firm will "acquire an equity stake from the existing shareholders" of India's largest packed snack and sweets company and restaurant operator, according to a statement issued on Sunday. It did not disclose details of the deal or the valuation at which Temasek acquired the equity stake, but this is the first official confirmation of the deal from Haldiram.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.
India ranks 6th in the Asia-Pacific region for the Italian super luxury carmaker.
From the 30 Sensex companies, IndusInd Bank, Zomato, Larsen & Toubro, Titan, Mahindra & Mahindra, Bajaj Finance, Reliance Industries, Kotak Mahindra Bank, Tech Mahindra and Tata Consultancy Services were among the laggards. On the other hand, Power Grid, Hindustan Unilever, Infosys, Nestle India, Asian Paints, ITC, Sun Pharmaceuticals and ICICI Bank were the gainers.
'What is working is quality management, great teams, engineers, platforms, and highly differentiated services.'
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
Indian pharma companies are focussing on flagship products or mother brands under which they launch various new combinations to ensure robust revenue growth as well as therapy leadership. An analysis by market research firm Pharmarack showed how such flagship brands have posted strong growth CAGR in the last five years, with some even doubling sales. Sheetal Sapale, vice-president, commercial at Pharmarack, said, "Mother brands are analogous to an aggressive player who has put in a lot of effort during the prime years of life but now continues to silently nurture the brand family to collectively cross newer benchmarks of success."
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Dubai is positioning itself as a springboard for Indian companies looking to tap into fast-growing emerging markets, including Africa, banking on low tariffs, long-standing trade relations, and a shared vision for regional economic growth, said Mohammad Ali Rashid Lootah, president and chief executive officer, Dubai Chambers, at the Dubai-India Business Forum in Mumbai.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Billionaire Gautam Adani's group is in advanced talks to acquire real estate company Emaar India for an enterprise value of around $1.4-1.5 billion as it looks to expand its property business, according to sources. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land.
Ahmedabad civic authorities launched a massive demolition drive on Tuesday, razing over 2,000 illegally constructed houses and properties in the Chandola Lake area. The operation, which involved around 50 teams equipped with earthmovers and 2,000 police personnel, was carried out days after illegal Bangladeshi immigrants were detained from these settlements. The Gujarat High Court declined to stay the action, observing that the dwellings were situated on the periphery of the water body and therefore subject to demolition under the Land Revenue Code. Authorities also demolished the illegal farmhouse of Lalu Pathan, alleged mastermind behind the encroachments, who is suspected to have helped illegal immigrants obtain rental accommodation and Aadhaar cards.
Since Sanjay Malhotra took office as governor in December, the Reserve Bank of India (RBI) has adopted a more accommodative stance, which bodes well for banking and the economy as they navigate a growth slowdown, according to analysts.
Among the 30 Sensex companies, IndusInd Bank, Axis Bank, ICICI Bank, Bharti Airtel, Kotak Mahindra Bank, Maruti, JSW Steel and Bajaj Finserv were among the laggards. In contrast, Reliance Industries, Tata Motors, Asian Paints, Nestle and Titan were the biggest gainers.
Vedanta Ltd on Friday said it has been declared as preferred bidder for a diamond mine in Madhya Pradesh. The company said it is the highest bidder with a final price offer of 1.10 per cent.
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
Non-banking entities such as fintech firms will have to tap into use cases beyond peer-to-peer (P2P) and peer-to-merchant (P2M) transactions to scale up the presence of the retail version of the central bank digital currency (CBDC), which is also known as the e, said industry players. These use cases will enable programmable transactions across domains, including the government's direct benefit transfer (DBT) schemes, with subsidies restricted to specific purposes such as food coupons, hospital bills, fertilisers, pesticides, and cross-border remittances.
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
Fundraising by Indian companies through equity and debt reached an all-time high in the financial year 2024-25 (FY25), according to data collated by primedatabase.com. Fundraising through debt stood at Rs 11.1 trillion in FY25, including contributions from InvITs (infrastructure investment trusts) and REITs (real estate investment trusts).
Moody's Ratings on Wednesday said US tariffs will weaken credit conditions and raise defaults risks especially for low-rated and speculative grade corporates. It said that an unpredictable US trade policy will lead to a deterioration in global credit conditions and macroeconomic impact will slow growth with a growing possibility of recession.
618 companies were part of the billion dollar club when the markets reached all-time highs on September 26, 2024. That number has fallen to 500 following a $1 trillion wipeout in India's market capitalisation amid relentless selling by FPIs.
Technology is rapidly reshaping industries that have long been rooted in tradition, driving a wave of innovation that is transforming everything from finance, banking, steel to manufacturing.
'I don't know when I will be able to access those funds.'
Finance Minister Nirmala Sitharaman on Monday said action will be taken in case there are violations of well laid down processes for auctioning of gold by banks and NBFCs when a borrower fails to pay the gold loan. During Question Hour in Lok Sabha, she said Non Banking Financial Companies (NBFCs) and Scheduled Commercial Banks (SCBs) are guided by similar rules.
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