Business
India’s EV Market To Reach Rs 20 Lakh Crore, To Create Five Crore Jobs By 2030
NEW DELHI: Union minister Nitin Gadkari on Thursday said the Indian electric vehicle market potential is likely to touch Rs 20 lakh crore and will create around 5 crore jobs across the entire EV ecosystem by 2030. Addressing the ‘8th Catalyst Conference on Sustainability of E-Vehicle Industry – Evexpo...
SEBI Introduces Timelines For NFO Fund Deployment, Eases AMC Employee Interest Alignment Rules
NEW DELHI: Markets regulator Sebi has decided to introduce timelines for deploying funds raised through New Fund Offers (NFOs) by asset management companies (AMCs) and relaxed regulatory framework regarding the alignment of AMC employees’ interests with those of unitholders. Additionally, the regulator has mandated disclosure of stress testing for...
Flyzy Partners With Adani Digital Labs To Enhance Dutyfree, Pranaam Service
NEW DELHI: Flyzy on Wednesday announced a partnership with Adani Digital Labs, a subsidiary of the Adani Group. This strategic collaboration will enable Flyzy customers to conveniently purchase duty-free items and avail Adani Pranaam services directly through the Flyzy’s dashboard. The integration is now live, offering Flyzy users the...
Govt Likely To Target FY26 Fiscal Deficit At 4.4% Of GDP To Support Growth
NEW DELHI: Concerned that aggressive fiscal consolidation could hinder growth momentum while private capital expenditure remains sluggish, the government is expected to set the fiscal deficit target at 4.4 per cent of gross domestic product (GDP) for FY26 in the upcoming Budget. “Given rising geopolitical headwinds that may impact...
Investments, Consumption To Drive Growth In FY26 To 6.6%: India Ratings
NEW DELHI: Gradual improvement in consumption demand and investments from both the public and private sector due to monetary easing are expected to push India’s economy to grow a tad faster at 6.6 per cent in the financial year 2025-2026 (FY26) compared with the downward revised projection of 6.4...
SEBI Tightens Regulations For SME Listing, Widens UPSI Definition
MUMBAI: The board of Securities and Exchange Board of India (SEBI) took as many as 19 decisions on Wednesday, including tighter listing regulations for small and medium enterprises (SMEs), easier norms for REITs and InvITs, and a wider definition of unpublished price-sensitive information (UPSI). In a bid to curb...
Trump’s Reciprocal Tariff Plan To Open Talks For Market Access
NEW DELHI: As US president-elect Donald Trump on Wednesday asserted that the world’s largest economy would charge taxes (import tariffs) on India on a strictly reciprocal basis, experts here said the move would force open negotiations for greater market access between the two countries. While Trump talked of reciprocity,...
NPPA Ropes In Patent Office To Decide On Pleas For Price Cap Exemption
NEW DELHI: Drug companies seeking price exemption for their medicines and vaccines will have to face intense scrutiny as India’s drug pricing regulator has sought expertise from the Indian Patent Office to decide on applications seeking exemption from drug price norms. Recently, Intas Pharmaceuticals and Biological E had reached...
Survey Ship INS Nirdeshak Inducted Into Navy
NEW DELHI: INS Nirdeshak, the second ship of survey vessel (large) project, was commissioned into the Indian Navy at Visakhapatnam on Wednesday, scaling up the capacity to conduct hydrographic study, aid in navigation, and support maritime operations. Built with over 80 per cent indigenous content, the ship is embedded...
Bihar To Host 2nd Edition Of Investor Meet On December 19-20
PATNA: After an impressive maiden show, Bihar will on December 19-20 host the second edition of Bihar Business Connect – the global investor summit that looks at boosting industrial and entrepreneurial growth in the state. The prestigious event, curated by the state’s Department of Industries, seeks to showcase Bihar...
Reliance Nippon Life Starts Negotiation With IndusInd Bank On Bancassurance Tie Up
NEW DELHI: Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to...
Tata Power-DDL Awarded Prestigious ‘Certificate of Merit in DISCOM Sector’
NEW DELHI: Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of around 9 million in North Delhi, has been awarded with the prestigious ‘Certificate of Merit in the DISCOM sector’ at the 34th National Energy Conservation Awards (NECA) 2024. The award...
Sensex, Nifty Extend Losses Into Third Session On Foreign Fund Outflows
MUMBAI: Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve’s policy meeting, scheduled...
Centre Plans To Increase Financing For Renewable Energy Projects
NEW DELHI: Renewable energy minister Pralhad Joshi on Tuesday said he will hold a meeting with banks and the industry leaders in January to discuss increasing financing for renewable energy projects. “In coming days, I think somewhere in the month of January, I would meet the chairmen and MDs...
Slowdown In Q2 Is A ‘Temporary Blip’, Growth To Pick Up: FM
NEW DELHI: The slowdown in the second quarter economic growth was a “temporary blip” and the economy will witness healthy growth in the quarters ahead, finance minister Nirmala Sitharaman said on Tuesday and also highlighted govt’s inflation management. “Quarter 2 of this financial year has been a challenging quarter...
Indian Firms Turn To Euro, Yen Swaps To Trim Borrowing Cost
MUMBAI: Indian firms are opting for cross-currency swaps to convert part of their debt into the euro or Japanese yen in order to trim borrowing costs, said bankers. They anticipate a sharper fall in interest rates of these two currencies instead of the dollar. While some are converting their...
Indian Equities Tumble, Rupee Hits Record Low As FPIs Turn Risk-Averse
MUMBAI: Indian equity benchmarks declined sharply on Tuesday as foreign portfolio investors (FPIs) turned cautious ahead of the US Federal Reserve’s policy decision. The heavy selloff impacted the currency market, too, pushing the rupee to a fresh intraday low of 84.93 against the dollar before the Reserve Bank of...
EPFO Weighs Higher Equity Investments
NEW DELHI: Encouraged by the relatively high returns for Employees’ Provident Fund Organisation (EPFO) from equity investments since 2015, the government is looking to hike the retirement fund body’s exposure to the segment significantly. The higher equity exposure – roughly 9.5% of the EPF investible surplus is currently invested...
