One of the largest maize-based speciality products manufacturing firm, Ahmedabad-based Sanstar plans to raise ₹510 crore through an IPO and pump in part of the proceeds — ₹180 crore — to expand its manufacturing facility at Dhule in Maharashtra. “We are adding an additional 1,000 tonnes per day (TPD) capacity to our plant in Dhule. We…
Although a range of tax-related changes are introduced every year for taxpayers, a few key changes are ‘radical’ and occur only once every three or five years. The introduction of the ‘new tax regime’ is undoubtedly one such key change that is substantive, and will transform the way income tax is calculated and deductions allowed….
“Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia,” the IMF said. Image for representation. | Photo Credit: AP The International Monetary Fund (IMF) held global growth expectations for 2024 steady in a report on July 16 even as it cut forecasts for…
Riding high on growing interest in thematic investment in the defence sector, Groww Asset Management Company has filed paper with SEBI to launch ‘Nifty India Defence ETF’. The scheme targets to generate long-term capital growth by investing in securities of the Nifty India Defence Index in the same weightage with an aim to provide returns…
The jewellery industry has come together to implement a ‘one nation, one rate’ (ONOR) policy for gold across States to bring in much-needed transparency in the yellow metal sales. The Indian Jewellers and Bullion Association of India and All India Gem and Jewellery Domestic Council are in discussion with various stakeholders of the industry and a…
In a development that could help cool rising prices of some food items in the coming months, there is good news on the farm sowing front with overall sown area rising 10.3% over last year, despite the Southwest Monsoon’s progress so far falling a tad short of the long period average and last year’s rain…
57 per cent or 159 of the 281 open-ended equity diversified funds outperformed their respective benchmarks in June, according to PL Wealth Management, Prabhudas Lilladher’s wealth management arm. Multi cap funds was the best performing category where 75 per cent of the schemes outperformed the benchmark. 64 per cent and 62 per cent of focused…
SEBI plans to introduce a new asset class to bridge the gap between mutual funds (MFs) and portfolio management services (PMS). This will be offered under the MF structure, with new branding and relevant relaxations in existing MF norms. The minimum ticket size is proposed to be ₹10 lakh, one-fifth that of PMS schemes and…
Target: ₹2,100 CMP: ₹1,869.60 KPIT Technologies, a pure-play engineering, research & development (ER&D) services company, offers design and development solutions throughout the product development value-chain across all leading manufacturers and OEMs globally. Moreover, it is also involved in product development in the passenger car segment and in the commercial vehicle segment. Technological upgrades in the…
Image used for representational purpose. | Photo Credit: Reuters The rupee consolidated in a narrow range and settled for the day 3 paise higher at 83.58 (provisional) against the U.S. dollar on July 16, on firm domestic markets and sustained inflow of foreign capital. Forex traders said a decline in crude oil prices favoured the…
