Business
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”...
Telangana Presents Rs 3.05 Lakh Crore Budget For 2025-26
HYDERABAD: The Congress government in Telangana on Wednesday presented a budget of nearly Rs 3.05 Lakh Crore for 2025-26, with over Rs 56,000 Crore for the implementation of the party’s ‘six poll guarantees’, while expecting to raise Rs 64,000 Crore through open market loans. The budget estimates revenue expenditure...
Vodafone Idea Shares Jump Over 5 Per Cent As Company Rolls Out 5G Services
NEW DELHI: Shares of Vodafone Idea on Wednesday jumped over 5 per cent after the firm launched its 5G services in India, starting from Mumbai with five more cities up next. The stock climbed 5 per cent to Rs 7.46 on the BSE. At the NSE, it rallied 5.21...
Sun-days Co Launches First Eyewear Store In Capital
NEW DELHI: Luxury eyewear brand Sun-days Co has officially opened its doors at Omaxe Chowk, Chandni Chowk, offering a premium shopping experience for fashion-forward consumers. The new store features a curated collection of over 60 globally renowned brands, including Ray-Ban, Prada, Gucci, Kuboraum, and Philipp Plein, catering to both...
WPI Inflation May Shoot Up In March On Higher Metal Prices, Fed And Tariff Concerns
NEW DELHI: India’s wholesale price index (WPI)-based inflation rose marginally to 2.38 per cent in February on higher global commodity prices and is expected to increase further in March on higher metal prices, stated a report by Barclays. “While inflation in manufactured products rose and deflation in fuel &...
