Business
SEBI Cuts Timeline For Completion Of Rights Issue For Equity Shares To 23 Days
NEW DELHI: Markets regulator SEBI on Tuesday reduced the processing time for a rights issue of equity shares to 23 days in a bid to make it a preferred route of fundraising. Separately, the regulator has provided flexibility of allotment to specific investors in the rights issue and discontinued...
Hindustan Zinc Signs PDA With Serentica Renewables
NEW DELHI: Hindustan Zinc Limited (NSE: HINDZINC), India’s largest and the world’s second largest integrated zinc producer, announced the signing of a power delivery agreement (PDA) with Serentica Renewables, a leading renewable energy company in India. The latest power delivery agreement augments Hindustan Zinc’s round-the-clock renewable energy up to...
IndusInd Bank Stock Tanks 23 Per Cent
NEW DELHI: IndusInd Bank on Tuesday fire fought the fallout of a `2,100 Crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management’s assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses....
London Unveils £27 Billion Growth Plan With India As Top Investment Partner
LONDON: London launched a new growth plan aimed towards supporting public services across the country by generating an additional £27 billion in tax revenue. The plan, unveiled by Mayor Sadiq Khan and London & Partners, seeks to restore productivity growth to 2 per cent annually over the next decade,...
Retail Credit Growth Halves As Unsecured Loans Slow
MUMBAI: Retail credit growth of banks slowed sharply to 12% in January 2025, down from 29% in January last year, driven by weaker growth in personal loans. Growth in other personal loans, which include unsecured loans, declined to 9% in January 2025 from 23% in January 2024, according to...
Zero Tariff On US Imports Could Boost India Electronics Market
NEW DELHI: The US’ move to impose reciprocal tariffs is being seen by analysts as a strategic opportunity to attract electronics manufacturers from China to India. However, they said New Delhi can fully capitalise on this only if it reduces import duties on US electronics to zero, matching Washington’s...
New Drug Export Rule A Bitter Pill For Sector: Pharma Body
NEW DELHI: The Pharmaceuticals Export Promotion Council (Pharmexcil) has sought a review of a new rule for drug exports that requires a product registration certificate from the national regulatory agency of the importing country or approval from the Indian regulator compulsory for issuing a no-objection certificate for shipments. The...
India, European Union To Hold Next Round Of Free Trade Agreement Talks Amid Tariff Threats
NEW DELHI: India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on resolving remaining issues so that the agreement...
US Tariffs To Hit Pharma Sector, Auto Minimal Effect
NEW DELHI: Enhanced tariffs on pharma imports in the United States (US) can severely impact Indian drug manufacturers as it would lead to higher production costs, making shipments less competitive against products from other countries. Smaller drug firms operating on thin margins can face severe pressure potentially forcing consolidation...
ONGC’s OPaL Exits From Dahej SEZ, Eyes Local Market
NEW DELHI: ONGC PetroAdditions Limited, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its ‘only-for-export’ unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final...
Chhattisgarh FM Presents 100-Page Handwritten Budget
RAIPUR: In an age where even court rulings are drafted using AI-powered chatbots, Chhattisgarh’s Finance Minister OP Choudhary showcased his personal dedication by presenting a 100-page handwritten Budget in Hindi, reflecting his hands-on approach and commitment to the budget preparation process. Choudhary, a former IAS who quit service to...
IPO Activity Slows Down, Listings Pulled
NEW DELHI: After heightened activity in 2024, there has been a slowdown in new listings, with no main-bourse Initial Public Offerings (IPO) hitting the market in the past three weeks due to a correction in the secondary market. This slowdown in IPO activity is reflected in the numbers, as...
Time For “Macro” Trade Deal With India, Says The US
NEW DELHI: The US on Friday asked India to bring down import tariffs for it under an all-encompassing trade deal that won’t leave even the latter’s sensitive agriculture markets out. In a televised address to an Indian audience from Washington, US commerce secretary Howard Lutnick made it clear that...
Retail Inflation Likely Eased To 3.9% In February
NEW DELHI: India’s retail inflation, based on the consumer price index (CPI), is seen to have eased to a six-month low of 3.9% in February from 4.31% in January, according to a median of 15 estimates. The decline in inflation is primarily due to cooling vegetable prices. With the...
Nasscom, Other Bodies Oppose DPDP Rules On Cross-Border Data Transfer Ban
NEW DELHI: Industry body Nasscom has opposed government’s plan to restrict cross-border data transfer by significant data fiduciaries, asserting that the proposal in the draft Digital Personal Data Protection (DPDP) Rules “risks causing unintended uncertainty on international data transfers.” “Moreover, the ability of such a restriction to afford meaningful...
Exporters Of Marine Products, Rice Jittery As US Tariffs Loom
NEW DELHI: India’s marine products and rice exports and domestic poultry industry are likely to be impacted if the Trump administration imposes reciprocal duties on products imported from the country. At present, frozen shrimp exports to the US, which has a major share in the country’s marine products exports,...
Credit Growth Slows, Still Outpaces Deposits: RBI Data
MUMBAI: Credit growth continued to outpace deposit growth even as both have slowed over previous years according to the latest data released by the Reserve Bank of India. Outstanding bank deposits amounted to Rs222 lakh crore as of February 21, up 10.3% year-on-year compared to 13.1% in the same...
Women Envoys Hail Diverse Workforce At Adani Green Energy
KHAVDA: A delegation of women envoys from nine countries, including those from Luxembourg, Romania and Slovenia, took stock of Adani Group’s renewable energy and other projects in Gujarat and lauded female workforce participation at these facilities. While interacting with women engineers at Adani Green Energy’s 30-GW clean energy plant...
