The request for relaxation came from large manufacturing units which have stated that the move would help facilitate manufacturing processes and augment exports.
The stock of auto component major Bosch was up 2.5 per cent on Wednesday and in the process hit its 52-week high. Expectations of higher volumes of medium and heavy commercial vehicles' (M&HCV), rise in content supplies on account of BS VI stage 2 implementation from April, and improved profitability are some of the positives for the stock. In addition to this, the company appointed a new managing director and joint managing director last week, which will come into effect from July 1.
Buying and selling of exchange trade fund (ETF) units worth less than Rs 25 crore will now have to take place compulsorily on the stock exchange platform, according to a new rule which comes into effect on Tuesday. The fresh norm, which comes into being after two deferments, is aimed at boosting liquidity and reducing tracking error. At present, investors directly deal with the asset management companies (AMCs) for purchase and redemption of ETFs - passive schemes that track a particular benchmark such as the Nifty50 index.
Uzbekistan's ambassador to India Dilshod Akhatov said on Tuesday that constitutions of 190 countries, including that of India, were studied to bring in holistic and comprehensive changes to the Constitution of the country.
RBI capped the gold lease period at 90 days under the direct import route.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Incensed over the "planting of articles" and wrongful advertisements in the run up to a company's public offer, market regulator Sebi on Friday pulled up merchant bankers and said it is considering coming out with revised norms on IPO advertisements.
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
Of the total investments made last month, P-note holdings in equities were at Rs 72,321 crore and the remaining in debt and derivatives markets.
According to officials, more clarity might be required with regard to foreign fund managers in the context of Air India divestment.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
Of the total investments made last month, P-note holdings in equities were at Rs 61,786 crore and the remaining in debt and derivatives markets.
India's MRP and Packaged Commodities Acts are dated and not in line with the modern world's digital price mechanisms and comparisons.
Gold prices have eased off in recent months after the formation of a new government bringing in positive sentiment back to the stock market.
The government has relaxed FDI norms in industries such as civil aviation, petroleum and natural gas and commodity exchanges.
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.
India is served by BS-IV fuel in cities such as Mumbai, Chennai, Delhi and BS-III fuel in the rest of the country.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
Realty FII norms, which were recently put outside the purview of Press Note 2 (2005), are vague about pre-IPO investments.
Sebi to consider changes in start-up listing norms
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
Under the new norms, 75 per cent shares can be reserved for institutional investors
Sebi is looking at further tightening the norms for P-Notes to address concerns raised by the Special Investigation Team on black money.
There are about 23 oil refineries in India with a combined capacity of 230 million tonnes per annum.
In a year marked by economic downturn, the estimated $500 billion retail sector in India saw growth slowing down to 10-11 per cent from high double digits growth earlier.
The quantum of FPI investments via P-notes remain unchanged at 6.6 per cent in March.
New-age tech tools and 'mystery shoppers' are helping the country's top bourse stay ahead of the curve against dabba trading platforms and entities dolling out unsolicited investment tips. In the past one month, the National Stock Exchange (NSE) has issued close to two dozen warnings and advisories against such activities. "We saw a rise of dabba trading or illegal trading platforms after the pandemic.
It said equity injection by foreign retailers is likely to improve the capital structure of their Indian peers, to help part-fund future capex requirements.
Move to impact joint ventures in telecom, insurance, broadcasting.
The Reserve Bank of India (RBI) has recommended to the finance ministry a series of measures to curb investment flows from venture funds and into real estate.
The CAIT has complained to the Commerce Ministry to take action against these companies.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Investors should avoid jumping from their current funds into those that have outperformed lately, advises Arnav Pandya, a certified financial planner.