The dealers operating in the space have jumped nearly three times over the past two years.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
Senior Congress leader Anand Sharma on Wednesday denounced the Modi government's decision to allow 100 per cent foreign direct investment in defence sector by easing norms, saying the prime minister was working under pressure from the United States and his party would oppose it in Parliament.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The IIMs reason that foreign tie-ups are important given the increasing demand for student and faculty exchange programmes and joint programmes in research and training.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
India's foreign exchange reserves -- pegged at over $109 billion -- are not in plenty, RBI Deputy Governor K J Udeshi said on Friday.
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While the systems in place at leading Indian bourses are considered to be very robust and can withstand any possible technical glitches, it is advisable to conduct a precautionary check after an unprecedented three-hour trading halt at a large exchange like Nasdaq, a senior Sebi official said.
India's foreign exchange reserves are at an all-time high.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
From the Sensex pack, Larsen & Toubro, JSW Steel, IndusInd Bank, Power Grid, ITC, Mahindra & Mahindra, NTPC, HDFC Bank, ITC, Reliance Industries and Tata Motors were among the major laggards. Bajaj Finserv, Asian Paints Bajaj Finance, Bharti Airtel and Axis Bank were among the gainers.
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
Speaking in the Rajya Sabha on the precarious condition of state finances, Congress leader Manmohan Singh on Tuesday said the state finances were in dismal shape.
Facing opposition fire for exit polls allegedly being used for stock market manipulation, Axis My India's chief Pradeep Gupta has said he is open to facing all kinds of investigations and it would help do business in a much better way if the government frames specific regulations for pollsters.
The Securities and Exchange Board of India (Sebi) might relax the disclosure norms around rumour verification to help smooth implementation and ease compliance amid pushback from India Inc, said people in the know. The rule has been notified following amendments to the Listing Obligations and Disclosure Requirements (LODR) by Sebi. However, its implementation has been deferred until February.
The Enforcement Directorate on Wednesday said it has arrested two persons in Chennai for alleged illegal exchange of Rs 6 crore in old notes "in connivance with" sand-mining baron J Sekhar Reddy as part of its money laundering probe post demonetisation.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
Show-cause notice has been issued to M/s Advantage Strategic Consulting Private Limited, its directors and also to Karti P Chidambaram who appears to be the controller and ultimate beneficiary in these transactions, the ED said in its notice.
Gautambhai has shown that he has ability to withstand payment delays or vexatious court cases. That is where he is on a more comfortable wicket than many others. A revealing excerpt from R N Bhaskar's Gautam Adani: Reimagining Business in India and the World.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Will mull bringing under own ambit all financial products from abroad sought to be sold to Indians.
The Maoists have warned that if the government does not stop unfairly targeting them and charging false cases against them, what happened in Kochi at the Jehovah's Witnesses convention can be expected during the 'Hamas rally of fake comrades' in the district, an official said.
Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs.
According to the data available on the Reserve Bank of India's website, net workers' remittances in April-June 2018 were $11.5 billion
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
Probably 35 bps. There could be even an encore in February 2023 to take the policy rate to 6.5% before the financial year ends, predicts Tamal Bandyopadhyay.
The Securities and Exchange Board of India will notify the rules by August 1.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
As much as 8 billion rubles (about Rs 1,000 crore) of dividend income belonging to Indian oil firms is stuck in Russia after the Putin administration clamped down on dollar repatriation, officials said on Friday. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in Vankorneft oil and gas field and another 29.9 per cent in TAAS-Yuryakh Neftegazodobycha fields.
The government will move fast towards a more liberal forex regime in the backdrop of a record foreign exchange reserves of 68 billion dollar and fresh inflow of $500 million a week, Finance Minister Jaswant Singh said.
Let's take a look at economies that have some of the highest debts in the world.
More and more the buck will stop at the board. Look no further than Infosys, says Amit Tendon.
