During the interview which will be aired on Sunday, Verma was asked why India was not cooperating with Canada in the investigation. To this, he said, '...even without an investigation being concluded, India was convicted'. "Is that the rule of law?" Verma asked.
We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India's farmers, youngsters and entrepreneurs, the PM said.
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
United States President Barack Obama has signed into law the $618 billion defence budget for 2017, which enhances security cooperation with India and conditions nearly half of the funding to Pakistan on a certification that it is taking demonstrable steps against the Haqqani Network.
The menace of fake currency which majorly funds terrorism to be carried out on the Indian soil continues to haunt Indian security agencies with the Inter-Services Intelligence devising new plans to continue with this operation.
The market capitalisation of BSE-listed firms jumped to an all-time high of Rs 304.53 lakh crore on Wednesday, buoyed by an unprecedented rally in equities where the BSE benchmark Sensex ended over the 67,000-mark for the first time ever. Rallying for the fifth day running, the 30-share BSE Sensex climbed 302.30 points, or 0.45 per cent, to end at its lifetime closing high of 67,097.44 points. During the day, it jumped 376.24 points, or 0.56 per cent, to reach its all-time intra-day peak of 67,171.38 points.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
Salil Dhawan reveals the MFs that have not only performed well in the past but have a promising outlook for the future too.
Stock markets this week would take cues from global trends, the announcement of domestic macroeconomic data such as GDP numbers and foreign fund movement, analysts said. Besides, monthly auto sales and Purchasing Managers' Index (PMI) data for manufacturing and services sectors would also influence trading in the market, they added. Benchmark BSE Sensex tumbled 1,538.64 points or 2.52 per cent last week amid concerns that the US Federal Reserve might raise interest rates further to curb inflation.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
Retirement fund body EPFO added 16.26 lakh subscribers on a net basis in November 2022, which is 16.5 per cent higher compared to a year ago, the labour ministry said on Friday. The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on Friday by the ministry highlighted that the EPFO has added 16.26 lakh net members in the month of November 2022. The data indicate a 25.67 per cent increase in net additions compared to the previous month in October 2022, a labour ministry statement said.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
Aviation regulator DGCA on Tuesday started the special audit of the facilities of Go First, which has sought approval for restarting operations. A team of officials from the Directorate General of Civil Aviation (DGCA) started the special audit of the facilities of Go First in Mumbai on Tuesday, according to an airline executive. The audit of the facilities will be done on Wednesday also.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Logistics services provider Delhivery posted a mixed set of results during the March quarter of the previous financial year (Q4 of FY23). While its operating profit was marginally in the green, its net losses widened as compared to the year-ago quarter. Overall revenues, which were in line with estimates, fell 10 per cent year-on-year (YoY).
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
The Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
'The debate is not whether the Indian defence apparatus is in a state of disrepair, but whether it is capable of securing the defence of the country if any envisaged threat becomes real.'
A formal sector worker can contribute towards pension scheme till the age of 58.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Lenders are likely to convert part of the airline's debt into 11.4 crore shares at a consideration of Re 1 apiece as per RBI norms.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Investors in international funds should have a horizon of more than five years. Not only will this help them overcome equity and currency volatility, it will also help them enjoy better tax treatment, says Sanjay Kumar Singh.
The statements made before a judicial magistrate had tightened the case against separatists.
In the past two months alone, four companies have garnered a cumulative Rs 22,400 crore via this route.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Mutual funds (MFs) have stepped up equity purchases after staying on the fence for over two months. Their net equity investments reached a four-month high of Rs 7,700 crore in July, rising for the fourth consecutive month after withdrawing a net of Rs 5,100 crore in April 2023. This trend continued in August, with net investments of Rs 3,400 crore in the first three trading sessions, according to data from the Securities and Exchange Board of India.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
The mid-and small-cap segments at the bourses have outperformed their larger peers thus far in fiscal 2023-24 (FY24). While the S&P BSE Small-cap index has surged around 5.7 per cent in FY24, the S&P BSE Midcap index has gained 4 per cent during this period. In comparison, the S&P BSE Sensex has moved up around 2.2 per cent.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
