Money spent abroad grows 29x in a decade

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Increase in exports, improvement in CAD, mnfg to help boost Indian economy: Piyush Goyal

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India likely to overtake Japan to become 3rd largest global market for Sony in 2 years

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Banks put on alert! RBI warns banks of ‘credible threat intelligence’ regarding cyberattacks

Banks have been asked to enhance surveillance to guard against cyber threats, monitor critical payment systems, and strengthen defences with controls against DDoS attacks.

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Top 5 tax-saving bank FDs: Which banks offer high interest rates & how much will your money grow? Check list

Top 5 tax-saving bank FDs: When choosing a bank for a tax-saving FD, it is essential to compare interest rates offered by different banks rather than simply opting for the bank where you have a savings account.

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Turbulence in WaPo as daily loses dollars

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Global debut: Government bonds enter JP Morgan's index

Indian government bonds entered the JP Morgan emerging market bond index, attracting significant foreign investment. This inclusion will enhance bond visibility, stability of the rupee, and the country's balance of payments. An estimated $20-25 billion is expected to flow into India by FY25. Initial inflows strengthened the rupee. With a large local debt stock, India's high yields and stable macroeconomic conditions make its bonds attractive to foreign investors, improving lending rates for banks.

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Startup bets dip to $3.1bn in June, Zepto among top

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Sebi eases delisting norms, tightens finfluencer rules

Sebi announced reforms to streamline delisting procedures, protect investors, and tighten eligibility criteria for stocks in the F&O market. It barred registered advisors from partnering with unregistered influencers to prevent misleading investment claims and eased delisting rules with a fixed-price mechanism and lowered the counteroffer threshold. Additionally, Sebi introduced 'adjusted book value' for both illiquid and liquid stocks.

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'Finance sector governance needs highest priority' says RBI governor

RBI Governor Shaktikanta Das highlighted the importance of governance in ensuring financial sector stability. The latest financial stability report expressed concerns about declining household savings, speculative activities, increased bank borrowing by NBFCs, rising household debt, and speculative trading practices. It emphasized the need for robust risk management and customer-centric approaches to maintain systemic trust and stability. Stress tests showed adequate capital resilience in banks and NBFCs, with a regulatory commitment to strengthen financial health.

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Record St: Sensex tops 79k, Nifty crosses 24k milestone

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Maharashtra still tops FDI charts but inflow dips 15%

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Aditya Birla Group to invest $50mn in chemical business in Texas

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Dr Reddy’s to buy UK company's nicotine gum business for Rs 5,000 crore

Dr Reddy's Laboratories is set to acquire Haleon Plc's NRT business, including Nicotinell, for GBP 500 million. The deal encompasses various NRT formats and potential contingent payments. This acquisition marks a significant step for Dr Reddy's in strengthening its position in the global consumer healthcare market outside the US.

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Water crisis may hit sovereign credit health: Moody's

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Sensex breaches 78,000 mark for 1st time, Nifty at record high as bank stocks surge

The BSE Sensex and NSE Nifty surged to record highs, driven by private bank stocks like Axis Bank, ICICI Bank, and HDFC Bank. The market also witnessed notable achievements such as ICICI Bank crossing a market cap of $100 billion and the current high valuations of Indian equities.

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Wheat stock limits back to curb hoarding

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Big fat Indian wedding drives $130 billion industry, average spend/nuptial at Rs 12.5 lakhs

The Indian wedding industry, valued at $130 billion, is the second largest in India after food and grocery. A new report by Jefferies highlights the significant economic impact of Indian weddings, which are twice the size of the US market and a key growth driver for various sectors. It estimated that the average expenditure on a wedding is around $15,000, or Rs 12.5 lakh, and an average Indian couple spends approximately twice on weddings compared to education (pre-primary to graduation).

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Only 195 out of the 31515 ongoing real estate projects have established complaint redressal cells, says MahaRERA

Only 195 out of 31515 real estate projects in the state have established a complaint redressal cell as directed by MahaRERA. Developers are apathetic towards resolving home buyers' complaints post bookings, leading to misunderstandings and grievances.

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Standard deduction may rise under new tax regime

The finance ministry is exploring raising the standard deduction for income taxpayers. The NDA govt is cautious about changing the capital gains mechanism. Discussions for the Budget are underway with finance minister Nirmala Sitharaman. The overall mood indicates that most wings of govt are in favour of offering concessions to taxpayers, especially the middle class.

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Global economy resilient and positive but inflation remains challenge: J P Morgan

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No GST on hostels, rail platform ticket, waiting room, ESOPs

GST Council exempts hostel fees, platform tickets, and more from GST. Hostels under Rs 20,000/month are exempt. Nirmala Sitharaman announces tax exemptions for employee stock options. System reworked to prevent fraud by bogus entities. The move will also benefit thousands of students and working people staying in paying guest accommodations.

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New GST era set to start with end of anti-profiteering clause

GST Council signals intent for rationalisation with possible reduction in slabs. End of anti-profiteering clause from April. New finance ministers join Council. Discussion on compensation cess for products like cars, coal, cola, and tobacco planned.

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Job creation in private sector strongest in 18 yrs: Survey

India's private sector experiences the highest job creation in 18 years, driven by manufacturing and service sectors with increased demand and global sales. The HSBC survey indicates notable growth, with efforts to clear backlogs, meet rising production demands, and address capacity pressures leading to significant employment increase.

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Zepto scores $665mn as funds ride Q-comm wave

Zepto secures $665 million in funding, with a valuation of $3.6 billion, as investor interest in quick commerce grows. The funding round, led by existing investors Glade Brook Capital, Nexus Venture Partners, and StepStone Group, along with new backers Avenir, Lightspeed, and Avra, will bolster Zepto's balance sheet for a potential IPO in 2025.

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Religare's shares rise after Sebi's open offer call

Shares of Religare Enterprises rose over 4% after Sebi instructed an open offer by the Burman Group. Sebi criticized REL and advised seeking approvals. Burman group planned to increase stake in REL, leading to a legal battle with REL in the Delhi High Court involving counter complaints, objections to eligibility, and access to necessary information.

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Rupee hits new low of 83.67 vs dollar

The rupee hit a historic low of 83.67 against the dollar due to significant outflows, importer demand, and global factors. The Reserve Bank of India's limited intervention led to a weaker close. The market eagerly awaits the impact of the Budget and the inclusion in JP Morgan's Emerging Markets Index.

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Chenab Rail Bridge Achieves Big Milestone! Indian Railways Conducts Train Trials On World’s Highest Railway Bridge - Check Top Facts

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Sensex rallies for 5th day, hits a new record

On Wednesday, the Sensex hit a new high of 77,338 while the Nifty closed at 23,516, facing volatility with profit booking. The banking sector showed resilience amid mixed performances and profit booking. Investors booked profit in various sectors, and expectations were high for sector-specific activities before the Budget.

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CCI clears We Work Inc’s exit from India unit

CCI approves WeWork's exit from India as Embassy Group acquires majority stake. Real Trustee Advisory Company and investors to acquire WeWork India shares. OAW's role in the share transfer process is crucial. Volrado Ventures, SEBI, and bankruptcy details are significant. John Santora's appointment and WeWork India's expansions in Pune and Gurgaon are notable.

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Retail inflation easing, food prices remain a concern: RBI

Retail inflation in India is easing, but volatile food prices could reverse the trend. RBI highlights impact of heatwaves on food prices and the need to monitor weather shocks. Despite a 12-month low in May, vegetable and pulses prices remain high. RBI maintains policy rate at 6.5% to align inflation with its 4% target.

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Nvidia beats Microsoft as world’s most valued company

Nvidia's market value surpasses Microsoft and Apple, driven by AI surge and coveted chips like H100 accelerators, leading to a sales increase of over 125% last year. Analysts from Wedbush Securities, including Daniel Ives, and Baron Capital recognize Nvidia's dominance. Nvidia's CEO Jensen Huang and Michael Lippert from Baron Capital highlight the company's proprietary software and development ecosystem.

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AC prices surge 6-8% on scorching demand

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Sebi is dealing with F&O trading frenzy: RBI governor

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Paris loses crown as Europe's biggest stock market to London

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In a 1st, ARCs gain more from loan rejig than selloff in FY24

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Tata Power installs over 140 charging points for Mumbai EVs; over 850 across India

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Paytm in talks with Zomato to sell its movie, ticketing business

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Hero Future Energies on a $2 billion expansion roll

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ITR filing FY 2023-24: Why is Form 16 important for salaried individuals when filing income tax return?

Income Tax Return Filing FY 2023-24: Form 16 consists of two parts: Part A and Part B. Part A shows the total tax deducted from salary income in each quarter of the financial yea

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Adidas begins probe into its China unit after 'large-scale bribery' charge

Adidas, the well-known German sports brand, has launched an investigation into a major bribery allegation involving its employees in China. The probe started after the company received a whistleblower complaint. According to a report by Reuters, citing the Financial Times, senior staff in Adidas' China unit are accused of embezzling "millions of euros."

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Vande Bharat sleeper & Vande Metro: Indian Railways to launch two new trains soon; top specials facts you must know

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First Bitcoin ETF to list on Australia bourse

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Informal sector hit by Covid 2nd wave recovered: Survey

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US court levies $194 million penalty on TCS

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Infosys wins $100 million Ikea deal

Infosys has won an over $100 million (Rs 850 crore) deal from Swedish retailer Ikea, outpacing incumbents HCL, Capgemini and DXC, and other regional players. About 350 roles at Ikea will be impacted across China, France, Germany, India, Poland, Sweden, and the US, and these employees will transition to Infosys. "It has been a three-year long but fulfilling journey that started with cold calling and some initial connections and culminated in a strategic partnership," an email sent by Infosys to select employees showed.

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Hyundai plans Rs 25,000 crore IPO, India's biggest

Korean car major Hyundai Motor is looking to sell around 17% stake in its Indian arm through an initial share sale (IPO), which may be India’s biggest issue so far, to raise as much as Rs 25,000 crore (around $3 billion), valuing the company at around $18 billion, or around Rs 1.5 lakh crore.

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Adani buys Penna Cement from Reddys in Rs 10,000 crore deal

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Vande Metro: Indian Railways Set To Roll Out New Train Soon! Check Top Images, Features, Expected Routes

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Rules for direct listing in GIFT to be out in a month

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US Fed holds rates steady as inflation is still 'elevated'

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