If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
The Confederation of All India Traders (CAIT) representing 70 million traders has written to Union Commerce Minister Piyush Goyal, drawing his attention to the alleged violations of laws and regulations by quick commerce (qcom) companies.
Defying the bearish sentiment in the markets on Monday, ICICI Bank's share price rose by 2 per cent, reaching an intraday high of Rs 1,234.4 per share on the BSE. With a 1.5 per cent gain at the close, the stock emerged as the top performer on both the BSE Sensex and the National Stock Exchange Nifty 50 indices.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
PFRDA will invite bids to appoint pension fund managers.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
Two equity funds at the opposite ends of the risk matrix - small-cap and arbitrage - bucked the 'low inflow' trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore - the highest since July 2021.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Granting the country's highest civilian honour to Prime Minister Modi was surprising as it indicated the government was going out of its way to have India as a close partner.'
Minister of State for External Affairs B Muraleedharan said India is committed to developing friendly and mutually beneficial relations with all its neighbours under its 'Neighbourhood First' policy.
Senior citizens should avoid putting their entire retirement corpus in SCSS.
Building your Retirement Nidhi is your Karmayoga, ensuring a Golden Yug where you can truly enjoy the fruits of your labour, says Vatsal Ramaiya as he explains how Rs 15,000 per month can help build a Rs 7 crore corpus.
Terming his discussions as 'fruitful and productive', Modi said the discussions were wide ranging, covering the entire spectrum of the bilateral engagement.
'Amaravati will be a game changer for Andhra Pradesh.'
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. "We will be approaching the capital market to raise funds for the four road projects... there will be an assured return of 7-8 per cent," Gadkari said while addressing a Ficci event.
Lenders have reported a surge in their bad loans in the six months to March after an asset quality review ordered by the central bank.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
The Rural Development Ministry has been allocated Rs 1.88 lakh crore in the Union Budget for 2025-26, around 5.75 per cent more than the allocation in the previous budget.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
The majority have stayed away from getting into cash handling.
Many states are realising that hosting mega events puts the spotlight on them and raises their profile.
'The President-elect firmly believes we can avoid conflict with the Chinese Communist party because they need our markets.'
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Only Mukesh Ambani and Gautam Adani are ahead of her.
According to the CCEA's decision, unlisted firms with three-year track record of net profit and positive networth will have to come out with Initial Public Offerings.
The deal values the stock exchange at $3.3 billion.
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
'Young investors should focus more on equity, while retired senior citizens should prioritise fixed income.' 'Mid-career investors should aim for a balanced allocation.'
Equity supply may hit Rs 6 trillion soon.
'If they aim to remain aligned with the public sentiment, as any democratic government should, then they must respond. Why else would the prime minister have cut short his visit to Saudi Arabia? And why would he have instructed the home minister himself to travel to Srinagar to assess the situation firsthand? This suggests that something is indeed being planned. I am quite certain of that, although the exact form it will take remains to be seen.'
The Indian markets have delivered high long-term returns, second only to the US.
At a time when banks are finding it challenging to mobilise resources, State Bank of India (SBI)-the country's largest lender-has devised a three-pronged strategy to boost deposit accretion. First is an aspirational product that promises to make depositors lakhpatis by helping them grow their deposits to Rs 1 lakh through recurring deposit (RD) schemes.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
Indians spent more on foreign investments during the past 12 months than they have since at least 2012.
Infrastructure funds, which bet on stocks closely linked with infrastructure development in the country, have emerged as one of the best-performing categories over the past year. They have generated an average return of 90.63 per cent - the third-best, after technology funds and small-cap funds. Of the 21 schemes in the category, seven have given a return of more than 100 per cent in a year.
