Definition of wealth is different for each and every person, but for a common person wealth would mean Rs 1 crore
Former Maharashtra minister and Shiv Sena-Uddhav Balasaheb Thackeray leader Aaditya Thackeray on Monday claimed nearly '50 people', including 'some middlemen' and personal assistants, will be part of the delegation that will travel with Chief Minister Eknath Shinde for the World Economic Forum (WEF) gathering in Davos, Switzerland.
The country's largest car maker, Maruti Suzuki India, on Tuesday said it, along with vendors, could invest up to Rs 18,000 crore (Rs 180 billion) in Gujarat as it looks to produce about 20 lakh (2 million) units in the long run in the state.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
Total assets under management (AUM) for September stood at Rs 20.4 lakh crore compared with Rs 20.6 lakh crore at the end of August.
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Maharashtra Congress president Nana Patole on Wednesday slammed ally Shiv Sena-Uddhav Balasaheb Thackeray's MP Sanjay Raut for his remarks on Haryana poll outcome, stressing that accusations against Congress won't be tolerated.
Stock exchanges have intensified vigil on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices. Bourses - responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs - have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
First day of the sixth edition of 'Vibrant Gujarat' saw investment commitments of Rs 28,000 crore from corporates such as Essar, ABG Shipyard, Jubilant Lifescience and Adanis.
'The government has stopped our earnings due to the lockdown and must do something for our earnings to restart.'
Some unions have opposed EPFO investing in share markets.
'Sell part of your portfolio where you're making good money, especially in small caps and mid caps.' 'The money which you take home is yours. The money which is there on paper is not yours.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
Adani Green Energy Limited is developing 30 GW renewable energy plant on barren land at Khavda in Kutch of Gujarat over area of 538 sq km after which the project would be the planet's largest power plant.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
Pvt sector holds back, waits for key reforms
Foreign investors have pumped in over Rs 1 lakh crore in the Indian securities market since Narendra Modi was announced as the prime ministerial candidate by Bhartiya Janta Party (BJP) in September last year.
From the BSE 30-share blue chip pack, 27 scrips ended with losses led by SBI and Tata Steel.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Adani Group-led by billionaire Gautam Adani on Thursday pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
Shares of Mukesh Ambani-owned Reliance Industries Limited (RIL) rose nearly 1 per cent on Tuesday, hitting an intraday high of Rs 2,986.05 per share, after most brokerages reacted positively to the company's March quarter (Q4FY24) results. The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical.
The number of ultra-high networth individuals (UHNIs) having an investible surplus of over Rs 25 crore (Rs 250 million) rose 16 per cent to 1.17 lakh last fiscal, and this is estimated to triple to 3.43 lakh in the next three years.
rediffGURU T S Khurana answers readers' personal income tax queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Shashi Tharoor, who is eyeing a fourth consecutive win from the Thiruvananthapuram Lok Sabha seat, has declared assets of over Rs 55 crore in his nomination papers.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
In 2024, the Securities and Exchange Board of India (Sebi) implemented significant reforms, focusing on cooling down the derivatives segment, enhancing transparency and accountability in small and midsised enterprise (SME) listings, and deepening the fund management ecosystem.
The Finance Ministry has given its consent to the EPFO to invest from 5 per cent to 15 per cent of the investable income of the organisation every year.
The EPFO started investing in ETFs in August last year after the CBT in March cleared proposal to invest in equity markets.
The Enforcement Directorate (ED) is probing alleged fraudulent foreign funds infusion of more than Rs 86 crore into a company that runs the NewsClick portal even as it is expected to soon file a charge sheet in the case being probed under the anti-money laundering law, official sources said on Monday.
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