Bloomberg | | Posted by Ritu Maria Johny Billionaire Gautam Adani and his family have prepaid $1.11 billion worth of borrowings backed by shares as the conglomerate seeks to allay investor fears and stem a stock rout that’s in its third week. The founders’ early payment will help release 11.77Continue Reading
It is probably the clearest hint Apple will give us about possible changes brewing. There is a thought within the tech giant that consumers may be more than willing to spend over the top-line price of the current iPhone 14 series if they get an additional (and potentially distinguishing) collectionContinue Reading
Indian shares are set to open lower on Monday on a strong U.S. jobs report which renewed fears that the Federal Reserve could continue with its aggressive rate hikes to tame inflation, while the ongoing uncertainty in Adani stocks remained an overhang. India’s NSE stock futures listed on the SingaporeContinue Reading
The Adani Group, after pulling its ₹20,000 crore equity fundraising plan last week due to a stock rout set off by Hindenburg Research’s fraud allegations against the conglomerate, is planning to trim its capital spending plans, Mint reported on Monday citing people close to the development, While providing more collateralContinue Reading
Nine of the 10 most valued firms together added ₹1.88 lakh crore in market valuation last week, with ITC emerging as the biggest gainer. The 30-share BSE benchmark Sensex jumped 1,510.98 points or 2.54 per cent last week. Barring Reliance Industries Limited, rest nine firms including Tata Consultancy Services (TCS),Continue Reading
The decision to raise the investment ceilings in small savings schemes is aimed at benefiting senior citizens and the middle class who park funds in safe government deposit schemes offering higher returns than banks, Finance Secretary TV Somanathan has said. The Budget 2023-24 raised the maximum deposit limit for SeniorContinue Reading
India, the world’s second-largest consumer of gold jewellery, has experienced rapid change over the last few years due to evolving demographics witnessing growing demand for lightweight and studded jewellery, reported Asian Lite International citing World Gold Council. “India is a strong pillar of support for the global gold markets asContinue Reading
Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue. She said banks and insurance companies are “not overexposed” to anyContinue Reading
Union finance minister Nirmala Sitharaman proposed to reduce Tax Deduction at Source (TDS) from 30% to 20% for the taxable part of the Employees’ Provident Fund (EPF) Scheme for non-PAN cases in Budget 2023-24. According to the Income Tax rule, if money is withdrawn from the EPF account before theContinue Reading
The central government is likely to increase dearness allowance (DA) for its over one crore employees and pensioners by four percentage points to 42 per cent from existing 38 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners are worked out onContinue Reading