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.
Foreign investors have pulled over Rs 6,400 crore from the Indian equity market in the first four trading sessions of the ongoing month when the Reserve Bank of India (RBI) and US Federal Reserve raised interest rates. Given the headwinds in terms of elevated crude prices, inflation, tight monetary policy among others, FPIs' flows in India are expected to remain volatile in the near term, Shrikant Chouhan, Head - Equity Research (Retail), Kotak Securities, said. Foreign Portfolio Investors (FPIs) remained net sellers for seven months to April 2022, withdrawing a massive amount of over Rs 1.65 lakh crore from equities. This was largely on the back of anticipation of a rate hike by the US Federal Reserve and due to the deteriorating geopolitical environment following Russia's invasion of Ukraine.
Finance Minister Nirmala Sitharaman is scheduled to address the post-budget meeting of the RBI's central board on Monday and highlight key points of the Union Budget 2022-23, including the fiscal consolidation roadmap and high capex plan. It has been a custom that the finance minister addresses the RBI board, consisting of RBI Governor and existing four deputy governors, after the Budget. The meeting has been scheduled for February 14 where she would be addressing the board members and talk about announcements made in the Budget to perk up growth hit by three waves of COVID-19, sources said.
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Atiq Ahmed and his brother Ashraf Ahmed were shot dead by men posing as journalists on April 15 night this year, while they were being taken for a medical examination in Prayagraj.
The auto major has also invested Rs 3,200 crore to set up its second manufacturing facility in Bangalore.
Move to accelerate investments; Japan to have a share in corpus
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said. The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth in the April-June quarter of this fiscal stood at 20.1 per cent. In October's monetary policy review, the Reserve Bank of India had retained its projection for real GDP growth at 9.5 per cent in 2021-22, consisting of 7.9 per cent in Q2; 6.8 per cent in Q3; and 6.1 per cent in Q4 of 2021-22.
The value of foreign portfolio investors' (FPI) holdings in the domestic equities reached $584 billion at the end of December 2022, which was 11 per cent lower from preceding year, according to a Morningstar report. This was largely on low return given by the Indian equities and exodus of foreign money from the domestic stock market. Going by the report, the value of FPIs investments in Indian equities dropped to $584 billion as of December 2022 as compared to $654 billion at the end of December 2021.
Shivakumar said, "Mahayuti leaders should visit my state to see how Congress' welfare guarantees are benefiting people."
The decision to procure the fleet was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi, Defence Minister Rajnath Singh said.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
'I clearly recall how you immediately directed your administration to identify and allocate land, water, and other clearances in the shortest time possible.' 'That was the fastest decision-making process I have ever witnessed.'
Continuing its heavy selling spree for the eighth consecutive month, foreign investors pulled out nearly Rs 40,000 crore from the Indian equity market in May on fears of an aggressive rate hike by US Federal Reserve that dented investor sentiments. With this, net outflow by foreign portfolio investors (FPIs) from equities reached at Rs 1.69 lakh crore so far in 2022, data with depositories showed. Going ahead, FPI flows will remain volatile in the emerging markets on account of rising geo-political risk, rising inflation, tightening of monetary policy by central banks, among others, Shrikant Chouhan, Head - Equity Research (Retail), Kotak Securities said.
While mostly corporates, including established names and little-known ones, went for the top-denomination bonds, there were also several individuals who bought multiple such bonds.
The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
The infrastructure space was one of the worst victims and things were at standstill.
Mahindra & Mahindra (M&M) reported very strong results for the January-March quarter of the last financial year (Q4FY24), beating consensus comfortably. The margins of the automobile business improved 170 basis points (bps) year-on-year (Y-o-Y) to 8.8 per cent, while FES (Farm Equipment Sector) margins improved to 15.8 per cent (up 60 bps Y-o-Y), despite a decline in volumes due to cost optimisation and lower raw material costs.
Appreciating efforts of West Bengal to attract investments, the finance minister said the Centre would extend all support to the Trinamool-government to promote industry and boost growth in the state.
Tamil Nadu Chief Minister Jayalalithaa credited Prime Minister Narendra Modi with spearheading investor-friendly initiatives, saying it will "enthuse" businesses planning to invest in states.
While Rs 37,461.01 crore has been allocated for higher education, Rs 56,386.63 crore has been earmarked for school education.
The government had committed to increasing spending in infrastructure
From its all-time peak of 38,989.65 scaled on August 29 this year, the Sensex has fallen by 2,921.32 points, or 7.5 per cent, to 36,068.33.
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Amid the top 20 states, Kerala is the only state which witnessed a surge in the proposed investments at 10 per cent with two projects worth over Rs 14,200 crore (Rs 142 billion).
According to the latest data released by the Securities and Exchange Board of India (Sebi), the cumulative value of P-Note investments in Indian markets (equity, debt and derivatives) was at Rs 1,47,905 crore (Rs 1,479.05 billion) at the end of March, 2013.
The mutual fund industry in India is worth Rs 5.89 lakh crore at the end of May 2008. If you are an investor it is always sensible to know where this 5.89 lakh crore is invested to get a good idea as to where you should invest if you want to emulate the mutual fund industries.
Besides, a sharp 8% decline in Chinese stocks added to the sell-off in domestic equities
The luxury car market leader will be producing the new-generation cars, sedans, SUVs, and AMG performance cars at one facility.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
In the 2015 bypoll in the same RK Nagar seat, she had declared total assets of Rs 117.13 crore.
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