Business
Concord Enviro Systems’ IPO To Open On December 19; Fixes Price Band Of Rs 665-701/Share
NEW DELHI: Concord Enviro Systems, an environmental engineering solutions firm, on Monday said it has set a price range of Rs 665-701 per share for its initial share-sale, which will open for public subscription on December 19. The initial share-sale is scheduled to close on December 23 and the...
JNPA, DGS Ink Pact For Skill Training In Vadhvan Region
MUMBAI: Leading container port JNPA on Monday said it has signed an initial pact with the shipping regulator DGS for providing skill development training to locals and project-affected people in the Vadhvan region, where a new greenfield port is coming up through selected Maritime Training Institutes (MTIs). The facility,...
Credit Costs For Banks, NBFCs, MFIs Expected To Significantly Rise
MUMBAI: Credit costs for banks have largely bottomed out and are likely to rise significantly, impacting banking profitability, ratings agency CareEdge said. It expects bank credit costs to rise from an all time low of 0.50% of banks’ loan book in the current fiscal. Senior director Sanjay Agarwal did...
Switzerland Withdraws MFN Status In Tax Treaty From India
NEW DELHI: Switzerland has decided to withdraw the Most Favoured Nation (MFN) status granted to India, a move that will have significant tax implications for Indian companies operating in the European nation. This decision comes after an adverse ruling from the Indian Supreme Court regarding a tax dispute involving...
Care Ratings Pares Down India’s FY25 GDP Growth Forecast To 6.5%
NEW DELHI: On the back of a contraction in corporate profitability, public capital expenditure, and sluggish urban consumption, CARE Ratings on Friday revised downwards its gross domestic product (GDP) growth forecast for FY25 to 6.5 per cent from 6.8 per cent estimated earlier. “This downward adjustment reflects slower GDP...
SEBI Mulls Guardrails For Retail Algo Trades To Address Regulatory Gaps
MUMBAI: The Securities and Exchange Board of India (Sebi) has proposed measures to regulate algorithmic (algo) trading by retail investors, introducing new checks and balances for stock brokers and exchanges. Currently, algo trading is dominated by institutional investors, who have “direct market access”, potentially giving them an edge over...
Telecom Gear Sales Under PLI Scheme Top Rs 68,700 Crore: DoT Secretary
NEW DELHI: Telecom equipment sales have crossed ₹68,700 crore under the Centre’s production linked incentive (PLI) scheme for the telecom sector within three and a half years of its launch, said Neeraj Mittal, secretary, department of telecommunications (DoT). “The telecom PLI scheme as on October 31, 2024, saw a...
ONGC Likely To List Green Arm In FY26
NEW DELHI: State-run ONGC is likely to come out with an initial public offering (IPO) for its green energy subsidiary ONGC Green Ltd in the next financial year 2025-26, according to the company’s Director (Exploration), Sushma Rawat. “That (IPO for ONGC Green) will not take too long but I...
Oil Ministry Backs Allocating OID Cess For ONGC, OIL To Boost Exploration Efforts
NEW DELHI: The Ministry of Petroleum & Natural Gas (MoPNG) is in favour of allocating a portion of the Oil Industries Development Cess (OID cess) to ONGC and Oil India (OIL), which will help in providing more capital to these companies to enhance exploration & production (E&P) activities. The...
Domestic Steel Industry Faces Market Threats: ICRA Predicts Below 80% Capacity Utilisation In FY2025
Following the post-Covid metals rally, the domestic steel industry was able to achieve the impossible trinity of maintaining above 80% capacity utilisation rates, a strong investment pipeline, and comfortable leverage levels for three years back-to-back between FY2022 and FY2024. However, according to ICRA’s latest note on the steel sector,...
Ministry Of Steel Leads The Way With India’s First Green Steel Framework
NEW DELHI: In a landmark move, India has taken a decisive step towards decarbonising its steel sector with the release of the Green Steel Taxonomy, unveiled by Union Minister of Steel and Heavy Industries, Shri H.D. Kumaraswamy, at Vigyan Bhavan. This initiative aligns with the nation’s commitment to achieving...
India’s $6 Billion Submarine Building Plan Stalls After Sea Tests
India’s $6 billion plan to build submarines has stalled because of contractor complaints over whether proper procedures were followed during tests at sea, delaying the navy’s efforts to bolster its capabilities as China expands its presence in the Indian Ocean. The bid to build six conventional diesel-electric subs is...
November Retail Inflation Eases To 5.48%; Industrial Output Grows 3.5% In October
NEW DELHI: With the slowdown in food prices and a high base, which is favourable, India’s retail inflation rate, based on the consumer price index (CPI), fell within the Reserve Bank of India’s (RBI’s) tolerance band at 5.48 per cent in November, from a 14-month high of 6.21 per...
Bleak Urban Demand To Weigh On FMCG In 2025
MUMBAI: The coming year is looking tough for India’s consumer goods companies. The urban middle class – key to driving sales volumes for mass brands – is not spending enough and rising commodity inflation means that firms may find it difficult to curb further price hikes, hurting consumption even...
Centre Seeks Parliament Nod For Net Extra Spend Of Rs 44,143-Crore
NEW DELHI: The Centre on Thursday sought Parliament approval for net additional expenditure of Rs 44,143 crore for the current fiscal, out of gross additional spending of Rs 87,763 crore in the first batch of supplementary demand for grants. The bulk of the additional spending is due to likely...
Investment Rate To Rise To Mid-30s In Five Years: CEA Anantha Nageswaran
NEW DELHI: Expressing optimism that private sector investment will continue to rise, chief economic adviser V Anantha Nageswaran on Thursday said the gross fixed capital formation (GFCF) rate may rise from 30.8% now to mid-30s, aiding India to grow at a sustainable rate when the world is going to...
Bank Deposits Went Up In Line With Credit Growth In Year To November
KOLKATA: Banks’ deposit mobilisation from the public increased 10.6% between November 2023 and November 2024, in tandem with credit growth, latest Reserve Bank of India (RBI) data showed. Term deposits and demand deposits also clocked double-digit growth in the same period. This is a result of banks’ relentless effort...
RBI Governor Bats For Continuity, Stability In Policy Decisions
MUMBAI: Sanjay Malhotra, the newly appointed governor of the Reserve Bank of India (RBI), Wednesday stressed continuity, stability, and inclusivity in policy making as the guiding leadership principles for the storied institution that, he said, symbolised both unwavering commitment to public good and inherent dynamism to help meet new-age...
