Business
Markets Bounce Back After Falling In Opening Trade On Fresh Foreign Fund Inflows
MUMBAI: Equity benchmark indices Sensex and Nifty opened on a negative note on Friday but soon recovered the lost ground and were trading with gains as fresh foreign fund inflows supported investors’ sentiments. The 30-share BSE benchmark Sensex declined 252.8 points to 76,095.26 in early trade. The NSE Nifty...
NSO To Use GST Data For GDP Estimate In New Series
NEW DELHI: The National Statistical Office (NSO) will likely use GST Network (GSTN) data to compute the gross domestic product (GDP) starting with the new national income series to be unveiled in the next financial year. The data of the revenue collections from the principal indirect tax will be...
Key India-US Trade Negotiations Next Week To Finalise BTA Contours
NEW DELHI: To finalise the shape of the proposed bilateral-trade agreement (BTA), a team of United States (US) officials, headed by Assistant Trade Representative Brendan Lynch, will come to New Delhi next week to hold discussions with their counterparts here. Both sides are aiming to finalise the first tranche...
SEBI Mulls Changes To ESOP Norms
MUMBAI: The Securities and Exchange Board of India (SEBI) has proposed allowing founders to exercise employee stock options (Esops) or stock appreciation rights (SAR), even after they are classified as promoters when the companies are about to list. In a consultation paper released on Thursday, SEBI, however, said the...
Bain Capital To Invest Rs 4,835 Crore In Manappuram Finance For 18% Stake
CHENNAI/MUMBAI: The US-based private equity (PE) giant Bain Capital announced on Thursday that it has entered into a definitive agreement to acquire joint control of India’s second-largest gold financier, Manappuram Finance, by purchasing an 18 per cent stake for ₹4,385 crore. The acquisition will be through a preferential allotment...
Safeguard Measures To Cut India’s Steel Imports By 50 Per Cent In FY26: Experts
NEW DELHI: India’s steel imports could reduce by 50 per cent in FY26 while domestic manufacturers’ profitability is expected to improve, if the government levies a safeguard duty on inbound shipments, experts have said. The Directorate General of Trade Remedies (DGTR), the investigation arm of the commerce ministry, has...
No Windfall Tax On Oil Companies After New Law: H S Puri
NEW DELHI: Oil and gas companies will not face any new taxes like the windfall profits tax after the coming into effect of a new law that promises stability of fiscal regime, Petroleum Minister Hardeep Singh Puri said. Parliament has passed the Oilfields (Regulation and Development) Bill, 2024 that...
Rupee Rises One Paisa Against US Dollar
MUMBAI: The rupee stayed firm and appreciated 1 paisa to close at 86.36 (provisional) against the US dollar on Thursday supported by positive domestic equities. Forex traders said the Indian rupee has staged a counterattack against external pressures, gaining support from strong foreign inflows into debt markets. However, risks...
Investors’ Wealth Surges Rs 17.43 Lakh Crore In Four Days Of Market Rally
NEW DELHI: Market investors kitty swelled by Rs 17.43 Lakh Crore in four days of sharp rally in equities where the BSE benchmark Sensex jumped over 3 per cent. On Thursday, the 30-share benchmark Sensex jumped 899.01 points or 1.19 per cent to settle at 76,348.06, regaining the 76,000...
Adani Group In Advance Talks To Acquire Real Estate Company Emaar India
NEW DELHI: Billionaire Gautam Adani’s group is in advanced talks to acquire real estate company Emaar India for an enterprise value of around $1.4-1.5 Billion as it looks to expand its property business, according to sources. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership...
India’s ‘AI for All’ Mantra Backed By Concrete Action: Jitin Prasada
NEW DELHI: India’s ‘AI for All’ mantra is backed by concrete action with the country leading in AI skill penetration and talent concentration, Union Minister Jitin Prasada said on Thursday as he urged industry leaders to prioritise research and development (R&D) to capitalise on India’s position as a global...
Trade War, Tariff To Impact Global Growth, Fuel Inflation: RBI Report
MUMBAI: Escalating trade tensions amid a tariff war after Donald Trump took over as President of the United States (US) could adversely impact global growth and fuel inflation, an article on the “State of the Economy” in the Reserve Bank of India (RBI) monthly bulletin said. Citing estimates, the...
Parliamentary Panel Calls For Coordinated Approach To Reduce Debt To GDP Ratio
NEW DELHI: The Standing Committee on Finance, in its report tabled in Parliament on Wednesday, has called for the adoption of a comprehensive and coordinated approach to monitor and manage general government debt, ensuring that both the central and state governments adhere to prudent fiscal policies. Ajay Seth, secretary,...
Govt Recommends 12% Provisional Safeguard Duty On Select Steel Items
NEW DELHI: The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce and Industry, has recommended a 12 per cent safeguard duty on certain steel products for 200 days to protect the domestic industry from what it describes as “serious injury” caused by a recent surge in...
India For Staggered Free Trade Pacts For Faster Outcomes
NEW DELHI: India has suggested that talks for free trade agreements (FTAs) should initially focus on core trade issues and that the comprehensive agreements can be concluded in phases, commerce secretary Sunil Barthwal said on Wednesday. This will deliver results faster, he said at the 10th CII India-Latin America...
Cabinet Okays 1,500 Crore Incentives To Boost UPI Payments
MUMBAI: The Union cabinet on Wednesday approved an incentive scheme to promote low-value BHIM-UPI transactions, focusing on payments made to merchants. The Rs 1,500 crore initiative, running from April 1, 2024, to March 31, 2025, aims to boost digital adoption among small businesses. Under the scheme, person-to-merchant (M) transactions...
Let Us Secure Farmers’ Future Through Reform And Unity
It’s time to end the agitation. Let’s Focus on Real Solutions for Indian Farmers.Indian agriculture stands at a defining moment. The image of a farmer sowing seeds in the fertile fields of Punjab or harvesting crops in the sun-drenched plains of Maharashtra reflects the soul of the nation. Over...
India Focuses On Core Trade Issues For Faster FTA Outcomes
NEW DELHI: India is focusing on core trade issues such as import duty and non-tariff barriers in the proposed Free Trade Agreements (FTAs) for faster outcomes from these negotiations, Commerce Secretary Sunil Barthwal said on Wednesday. He said this approach is important as sometimes it takes “so much time”...
