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NEW DELHI: The audit and non-services offered by the Big Four network and other firms to their clients are under the lens of the National Financial Reporting Authority (NFRA), the regulator for listed and large unlisted companies in the country. The issue has been flagged in several of the...
NEW DELHI: The finance ministry on Friday exuded confidence that the economy will “comfortably achieve” a growth rate upwards of 6.5% in FY24, as it expected the robust economic activity being witnessed in the third quarter of FY24 to continue through the March quarter as well. In an economic...
NEW DELHI: Despite heavy odds and global crises, India showed remarkable resilience to keep inflation under control, Prime Minister Narendra Modi has said, exuding confidence that the BJP was a “natural choice” for the people and will form a majority government for a third time in a row in...
NEW DELHI: The eight core sector industries, which include coal, steel and electricity, posted a growth of 7.8 per cent in November compared to the same month last year, official data released on Friday showed. India’s core sector output growth hit a six-month low of 7.8% in November, easing...
MUMBAI: The pace of growth of bank credit to the industrial sector slowed down to 6.1 per cent in November from 13.0 per cent in the year-ago month. However, the growth in credit to industry on a year-to-date basis in November in the current financial year (FY24) was slightly...
NEW DELHI: Retail inflation for industrial workers increased marginally to 4.98 per cent in November compared to 4.45 per cent in October this year, mainly due to higher prices of certain food items. Food inflation stood at 7.95 per cent against 6.27 per cent in the previous month (October...
NEW DELHI: The global oil and gas industry is bracing for a year of significant changes in 2024, marked by a complex mix of supply concerns and economic pressures. In the past year, Brent crude, the international benchmark, experienced a notable decline from its summer highs. This trend was...
NEW DELHI: To achieve self-sufficiency in production of coal and reduce the dependence on imports, the coal ministry has drawn up a strategic plan to slash imports of the fuel from over 20% now to 11% by the end of FY26, coal secretary Amrit Lal Meena told FE. The...
NEW DELHI: India’s Mines Ministry has proposed a new set of rules for the auction of offshore mineral blocks. It is also in the process of identifying such mineral blocks, including those in exclusive economic zones beyond territorial waters. The draft rules, put up for public comments recently, has...
Backed by government spending on infrastructure, building, and construction, domestic steel demand is expected to remain strong in 2024. Realisations in the domestic market are expected to remain strong, even though imports could remain elevated. Eports will remain stretched across key markets, beyond Europe, in view of the global...
MUMBAI: Biotechnology company Indian Immunologicals (IIL), under the National Dairy Development Board (NDDB), on Thursday announced the start of the construction of its new vaccine manufacturing plant at Genome Valley, Hyderabad. The company is investing around Rs 700 crore in this facility. Equipped with a BSL3 (biosafety level) facility...
Investments for insurance companies are highly regulated and life insurers should be allowed more investment classes to enhance their liquidity, Life Insurance Corporation (LIC) of India Chairman Siddhartha Mohanty said. “For insurance companies, so far as investment is concerned, it is highly regulated. So, new asset classes should also...
NEW DELHI: Bangladesh wants India to remove the anti-dumping duties on certain jute product imports. India extended these duties for a five-year period in January this year but New Delhi is not keen to do so, sources have said.. The neighbouring country is also trying to stop India from...
NEW DELHI: Capital markets regulator Sebi on Thursday tweaked the regulatory framework for Online Bond Platform Providers (OBPPs) to enhance the ease of doing business. This came after Sebi received representations from stock exchanges and market participants, including online bond platforms. “The proposed modifications shall aid in ease of...
NEW DELHI: Bank credit growth is expected to remain healthy at 12-13 per cent in the next fiscal, rating agency ICRA said while maintaining a positive outlook on the banking sector. In a statement, ICRA said the positive outlook on the banking sector is mainly driven by comfortable asset...
MUMBAI: As many as 12 companies raised Rs 8,931.69 crore through initial share sales this month, making it the best IPO month in two years. The previous best was December 2021, when 11 companies mopped up Rs 9,534 crore through Initial Public Offerings (IPOs). As per an analysis, 12...
London-headquartered Vedanta Resources has postponed the deadline to seek consent for extending the deadline of its bonds to January 2, 2024 due to the holiday period. “This extension is given to accommodate feedback from bondholders who were facing operational challenges in submitting their consent instructions and may not be...
NEW DELHI: Strong domestic demand, supported by government spending on infrastructure, building and construction segments, is expected to keep India’s steel imports elevated around the 6 million tonne (MT) mark this financial year even as the global steel industry battles a slowdown, according to rating agency Crisil. Global steel...