PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
The improvement, coupled with the positive findings of Monday's survey on Indian manufacturing, augurs well for Asia's third-largest economy, which grew at a higher-than-expected 4.8 per cent annual rate in the three months through September.
Sebi also allowed foreign investors to own up to 15 per cent stake in domestic stock and commodity exchanges
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
"I am certain that now that the growth is returning back to the world, the future holds an important direction as far as India is concerned. The sheer size of the country and economy would offer huge opportunity for investment in India in the next few years," the finance minister said in Washington, DC.
Maybe, the need for secrecy may have tied the government's hand from sharing details in Parliament. Still, it should consider the need of sharing the utmost within any consultative committee, so that relative secrecy is still maintained. But such a course should involve the prime minister or home minister, as it is much more serious than is being made out to be, argues N Sathiya Moorthy.
In a statement, he said that the government has left most of the print, electronic, and digital media to self-regulation.
Private life insurers are expected to deliver decent growth in the first quarter of the 2023-24 financial year (Q1FY24) on the back of stronger group business performance and easing supply-side constraints on individual protection. Life Insurance Corporation (LIC), though, is likely to see a decline. Healthy 12 per cent year-on-year (YoY) retail annual premium equivalent (APE) growth for private players, coupled with 11 per cent year-on-year (YoY) decline in LIC, will pull retail APE growth to a mere 3 per cent YoY in June 2023.
Govt must take few steps to improve business environment.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
Indian charitable trusts, including Tata Trusts and top corporate donors, are stumped by a new tax law proposed in the Budget, which reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be considered as application of income for the donor organisation. Trust officials say this is a major setback for the donor organisations, including corporate foundations and intermediary organisations, which work with various implementing agencies at the grassroots level.
Reveleus, a business of I-flex solutions, said on Monday the International Monetary Fund has selected its business intelligence and data warehouse technology offering for the design and implementation of a data warehouse.
PHOTOS from the ICC World Cup match between India and Afghanistan played in New Delhi on Wednesday.
Drug shortages in the US are at an all-time high, and price erosion has stabilised, which could benefit Indian pharmaceutical (pharma) companies with a US focus, according to analysts. Nuvama Research analysts said that US price erosion seems to have normalised to its old levels of 6-8 per cent and volumes are picking up with easing of inventory. Similarly, an ICICIdirect analyst noted: "Price erosion intensity has now moderated to a single digit and is expected to tone down a
The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.
The suicides have involved more NEET aspirants than JEE. 'It's a make-or-mar situation.' 'Either you get into a government medical college, where the fee is much lower than in private institutes, or you don't make it.'
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
On Tuesday, Bajaj Electricals extended its brand licence agreement with UK-based kitchen appliances major Morphy Richards, launching a new range of products. Chairman & managing director Shekhar Bajaj, cousin of industrialist Rahul Bajaj, tells Viveat Susan Pinto the company will increasingly focus its attention on its consumer products business.
I am increasingly seeing young people starting 25-year-SIPs; these kids will definitely benefit from the long term effect of compounding, notes P V Subramanyam.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
Foreign Minister Henry Odein Ajumogobia was addressing a group of nine Indian journalists in Abuja on familiarisation visit to the country, who were accompanied by the high commissioner to the country, Mahesh Sachdev.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
The results of the assembly elections in Gujarat and Himachal Pradesh are likely to play out during the winter session of Parliament beginning Wednesday.
Of the 17 cities figured in the World Bank and International Finance Corporation's "Doing Business In India 2009" report, Jaipur, Hyderabad and Bhubaneshwar are the other cities where it is easier to start a business.
The Centre plans to repeal the existing 80-year old Coffee Act and has proposed a new "Coffee (Promotion and Development Bill), 2022" to promote development of the Indian coffee industry. Through a new law, the government aims to modernise the functioning of the Coffee Board of India that is responsible for boosting production and the quality of Indian coffee, push exports and support the development of the domestic market. The Bill is likely to be introduced in the ongoing session of the Parliament.
Playfully elegant, her wardrobe has a very relatable spin.
Suresh Prabhu has announced a slew of measures to improve servcies in trains and railway stations
A clinical Roger Federer took a confident step towards a fourth Miami Open title on Wednesday, easing past 13th-seeded Russian Daniil Medvedev 6-4, 6-2 to book a spot in the quarter-finals.
This Budget will set a direction to increase the ease of doing business and restore confidence in the economy.
Prime Minister Narendra Modi on Friday alleged that "urban Naxals and anti-development elements" with political backing had stalled the construction of Sardar Sarovar dam on the Narmada river in Gujarat for many years by running a campaign that it would harm the environment.
State-level reports every quarter for service quality and artificial intelligence-based solutions may be officially mandated as part of a set of more stringent, updated quality-of-service (QoS) norms by the Telecom Regulatory Authority of India (Trai) soon. The new norms will also factor in user experience for 5G networks, officials informed Business Standard. In February, Trai asked telecommunication (telecom) service providers (TSPs) to submit updates on measures taken to reduce call drops and lags and raise the quality of connection.
Australia put themselves squarely in the hunt for an ICC Under-19 women's T20 World Cup semi-final spot, after they outclassed India by seven wickets in their Super Six clash.
India has urged Canada to ease visa regulations to facilitate its student community and boost trade and employment opportunities.
Manufacturing production growth eased in May, which combined with the slowdown in services resulted in a weaker increase in private sector output, the survey said.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
'Rather than visiting famous monuments, travellers now prefer "experiential activities" such as biking, trekking/hiking, camping, river rafting, yachting, parasailing and zip lining; safaris and jungle adventures; and wellness holidays to rejuvenate themselves.'
'They know the people of Karnataka will not accept it.'
200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.
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