Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
Redemptions from systematic investment plan (SIP) accounts scaled a new high of Rs 14,367 crore in July, indicating investors booked profits following back-to-back months of gains in the market. Volatility triggered by Budget announcements also played on investor sentiment. "July 2024 saw a peak in the Nifty, which may have prompted profit-booking among investors nearing the end of their goal tenure.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
"We decline comment," a poll panel spokesperson said on queries related to the prime minister's speech on Sunday in Banswara.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Reliance Industries accounted for Rs 6.3 trillion in wealth created since 1995; closest rival was Hindustan Unilever which was at Rs 4.9 trillion.
'They were ahead of their times. We don't expect this from a civilisation of the first century AD.'
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Gourav Vallabh joined the Bharatiya Janata Party on Thursday hours after he quit the Congress, saying he can neither raise anti-Sanatan slogans nor abuse "wealth creators" day in and day out and was joining the ruling party due to his support for Prime Minister Narendra Modi's agenda of "Viksit Bharat".
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
If Pitroda's blunder cost him his office, what should the BJP's unrepentant attitude cost it?, asks Shyam G Menon.
'The long-term impact of elections is minimal.'
Perhaps Kay Kay Menon should choose his projects carefully, instead of wasting his talent like this, observes Deepa Gahlot.
Inflows into equity mutual funds (MFs) continued their strong momentum in July, despite the market volatility triggered by the Union Budget.
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'If we want real democracy, the economy itself will need to be democratised.'
Paytm's parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said on Saturday. As part of a change in leadership structure, fintech firm Paytm has appointed Rakesh Singh as chief executive officer of Paytm Money.
'It has been 14 years since I began living in exile and it's shocking that the situation in Balochistan has only worsened rather than improved.'
Weeks after it informed that parts of the purported skeleton of murder victim Sheena Bora were untraceable, the prosecution on Wednesday told the trial court in Mumbai that they were lying at the Central Bureau of Investigation's (CBI) office in New Delhi.
The chargesheet, spread over 1,000 pages, was filed before the Patiala House Court in June and the court took its cognisance last month. A supplementary was filed in July.
Mutual Fund inflows in FY25 have already reached two-thirds of the total inflows seen in the entire FY24, with net inflows standing at Rs 1.3 trillion.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
Moveable assets accounted for 46 per cent of the wealth of the 10 richest candidates in the first phase of the 2024 elections.
Financial wealth in India grew 11 per cent to $3.4 trillion in 2020 despite the coronavirus pandemic, a global consultancy estimated on Tuesday. The 11 per cent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said. Financial wealth is defined as the total wealth excluding real assets and liabilities held by adult individuals.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego and Mahesh Padmanabhan your I-T related questions.
Real Madrid manager Carlo Ancelotti said on Saturday he is happy with how new signing Kylian Mbappe is settling into life with the Spanish soccer giants and he has no concerns about his team's slow start to the LaLiga season.
At Srinagar's famed Lal Chowk, Rediff.com's Syed Firdaus Ashraf meets a computer engineer who drives an auto for a living and discovers that Kashmiris are more interested in finding jobs than discussing the assembly election.
Sircar, a retired IAS officer, claimed that corruption by a section of leaders of his party and lack of action against them was one of the reasons for his decision.
He said the then prime minister Manmohan Singh had given a speech in which he had said Muslims have the first right to the country's resources.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
'My primary point was where is the Mamata Banerjee who jumps and reaches out, starts talking directly and starts solving over the heads of the bureaucracy.'
Shares of Le Travenues, which operates online travel booking platform ixigo, soared 78 per cent on their market debut (June 18) and surged 80.4 per cent in the three days over their issue price. Ixigo has joined competitors EaseMyTrip and Yatra on the bourses. Analysts believe the blockbuster response to ixigo may lead to greater scrutiny of the financial performance of other online travel aggregators (OTAs) like Easy Trip Planners, and Yatra Online.
Once declared a dud stock, Suzlon has generated stellar returns for investors thus far this calendar year. On a year-to-date (YTD) basis, Suzlon's share price has doubled investor wealth by soaring 109.35 per cent on the bourses. By comparison, the benchmark BSE Sensex has gained just 11.2 per cent.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
Former India captain Sourav Ganguly emphasised the importance of carefree batting in T20s.
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