The headlines of 2023 captured declining merchandise exports and record trade deficits but beyond it, yet India moved ahead in the global markets for goods and services in the year. The world’s imports in the year are seen at $25 trillion, of which 70% or $ 17 trillion market is for product segments where India […]
Windfall profit tax on crude oil, diesel exports cut
The government on Thursday cut the windfall profit tax on crude oil produced in the country and on exports of diesel in line with softening international oil prices. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil has been reduced to Rs 6,300 per tonne from […]
Tata Tech’s Rs 3,042.5 cr IPO subscribed 14.85 times day two of subscription
The initial public offer of Tata Technologies, which provides engineering and product development digital services, was subscribed 14.85 times on the second day of subscription on Thursday. This is the first company from the Tata Group to float an Initial Public Offer (IPO) in nearly two decades. Tata Consultancy Services was the last IPO from [&he
Markets ends higher; Nifty closes near 21,000 top gainers on December 11 include UltraTech Cement, UPL, Adani Enterprises whereas Media and Metal stocks among key losers
The benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 gained 27.70 points or 0.13% to settle at 20,997.10, while the BSE Sensex jumped 102.93 points or 0.15% to 69,928.53. Bank Nifty index ended slight higher by 52.25 points or 0.06% to settle at 47,314.25. The broader indices ended […]
Global trends, inflation data to guide market movement in holiday-shortened week: Analysts
Equity markets would take cues from domestic inflation data announcement, global trends and trading activity of foreign investors in a holiday-shortened week ahead, analysts said. Markets would remain closed on Tuesday for ‘Diwali Balipratipada’. Stock exchanges will conduct a special muhurat trading session on the occasion of Diwali on November 12
Congress’ Sunil Kedar disqualified from Maharashtra assembly after conviction in bank scam
Senior Congress leader and former Maharashtra minister Sunil Kedar has been disqualified from the state legislative assembly following his conviction by a court for misappropriation of funds at the Nagpur District Central Cooperative Bank (NDCCB). A gazette order of the state legislature secretariat issued on Saturday said Kedar stands disqualified
Sebi to introduce regulatory framework for index providers
Markets watchdog Sebi on Saturday approved a slew of proposals, including providing flexibility to Not for Profit Organisations (NPOs) in raising funds through the social stock exchange and also decided to introduce a regulatory framework for index providers. Besides, the regulator will put in place a new regulatory framework for facilitating Small
Charlie Munger, Warren Buffet’s closest aide at Berkshire Hathaway, dies at 99
Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died. He was 99. Munger’s death was confirmed in a statement from the company, which said he died Tuesday at a California hospital. Munger served as Buffett’s sounding board on investments and business decisions and helped lead Berkshire as its vic
10-year yield falls 6 bps to close at 7.22%
Benchmark yields on Wednesday closed at 7.22%, six basis points lower than the previous close of 7.28%, as softer inflation trends locally as also in the US cheered the sentiment. The sentiment was further buoyed after a finance ministry official said there is no plan to tinker with the borrowing calendar and the fiscal deficit […]
Telecommunications Bill, superseding century-old telecom law, gets President’s assent
The landmark Telecommunications Bill, which was passed by Parliament recently, has received the President’s assent.’The Telecommunications Act, 2023′ is set to overhaul the country’s century-old telecom law to make the sector investor-friendly; it prioritises user protection but also extends powers to the government to intercept communications. Whi