Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. | Photo Credit: Reuters Benchmark equity indices Sensex and Nifty soared to new lifetime highs on June 20, fuelled by robust buying in market heavyweights Reliance, ICICI…
The Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process (CIRP), and benefiting creditors and other…
Reserve Bank of India’s gold holding increased by 27.46 metric tonnes in FY24 to 822.10 metric tonnes as at end-March 2024, according to its “Half Yearly Report on Management of Foreign Exchange Reserves”. In value terms (USD), the share of gold in the total foreign exchange reserves increased to about 8.15 per cent as at…
· In March 2022, K India Opportunities Fund Class F was registered with SEBI as an FPI. It is a sub-fund of K India Opportunities Fund Ltd floated by Kotak group in 2013 to enable foreign clients to invest in India · In November 2022, short-seller Hindenburg Research shared a draft of its Hindenburg report on the…
Union Budget 2023 was the last full budget for the NDA government in India. On February 1, Finance Minister Nirmala Sitharaman presented the interim budget 2024 that focused on fiscal consolidation, infra, agri, green growth, and railways. However, no changes were made in the tax rates, which was a disappointment to salaried individuals. The Union…
HDFC Bank will implement revised credit card terms effective August 1st, 2024, aligning them closely with industry standards observed by other banks. The revised credit card terms include: HDFC Bank will introduce a new fee structure for credit card rent payments made through third-party apps such as CRED, Paytm, Cheq, MobiKwik, Freecharge, and others. The…
A man walks past the logo of the Bombay Stock Exchange (BSE) building in Mumbai. File | Photo Credit: REUTERS Equity benchmark indices Sensex and Nifty hit fresh lifetime high levels before closing flat due to profit-taking in select banking and telecom shares amid concerns over rich valuations on Tuesday. The 30-share BSE Sensex declined…
Photo used for representation purpose only. | Photo Credit: Reuters The RBI on July 2 proposed rationalising regulations that cover export and import transactions with an aim to promote ease of doing business and empower banks to provide more efficient service to their foreign exchange customers. The central bank has issued ‘Regulation of Foreign Trade…
Silver rallied sharply and hit multi-year high last week. It appreciated 11.7 per cent for the week as it ended at $31.5 per ounce. Gold continued its upward trajectory as well and posted a weekly gain of 2.3 per cent as it ended at $2,414.7 per ounce on Friday. Similarly, on the Multi Commodity Exchange,…
Aditya Birla Sun Life Asset Management Company believes that the inclusion of India in JP Morgan’s indices amid a favourable economic backdrop provides an opportunity for investors seeking stable returns in emerging markets. The convergence of macroeconomic stability, potential rate cuts, and innovative investment products like the ETF will position India as a compelling destination…
