The Reserve Bank of India (RBI) is gearing up to tighten its oversight on shadow banks engaging in high-risk unsecured lending to sensitive sectors, particularly the equity markets, where funds often fuel speculative activities. Sources familiar with the matter revealed that the regulator has initiated a comprehensive review of such shadow lenders as a preemptive … Read more
Indian benchmark indices are currently experiencing a robust bull run, with the Nifty 50 achieving new record levels for the fourth consecutive week. On March 7, the Nifty soared to an all-time high of Rs 22,525. However, amidst the escalating market momentum and the anticipated pre-election rally, investors are growing increasingly wary of elevated valuations. … Read more
The initial public offering (IPO) of Gopal Namkeen Limited, which commenced on March 6, 2024, is set to close today, March 11, 2024. Investors have until the end of the day to apply for the public issue. The price band for the Gopal Snacks IPO is fixed at ₹381 to ₹401 per equity share, with … Read more
Karan Adani, Managing Director of Adani Ports and Special Economic Zone, revealed that the Adani Group has earmarked Rs 60,000 crore for the expansion of its seven existing airports over the next 5-10 years. This investment will focus on enhancing both the ‘airside’ and ‘cityside’ infrastructure. Arun Bansal, Chief Executive Officer of Adani Airports Holdings … Read more
Byju’s, the embattled edtech company, announced on March 10 that it has disbursed partial salaries to all employees for February. The company assured employees that the remaining balance will be paid once it gains access to funds from the recently concluded rights issue. In a letter addressed to employees, Byju’s stated, “We processed partial salaries … Read more
On March 10, 2024, gold rates in India experienced fluctuations, with the fundamental price for 10 grams remaining close to Rs 65,000. A detailed examination revealed that the average price for 10 grams of 24-carat gold was approximately Rs 66,270, while 22-carat gold averaged around Rs 60,750. Meanwhile, the silver market displayed an upward trend, … Read more
India formally signed a free trade agreement with the European Free Trade Association (EFTA) consisting of Iceland, Norway, Switzerland, and Liechtenstein on Sunday in New Delhi. The agreement was signed in the presence of Union Commerce and Industry Minister Piyush Goyal, and Prime Minister Narendra Modi hailed it as a “new turn” and a “watershed … Read more
In an effort to promote transparency in the governance and administration of financial benchmarks in the securities market, the Securities and Exchange Board of India (SEBI) has made it mandatory for index providers managing “significant indices” based on securities listed in India to register under its regulatory framework. This requirement comes after SEBI’s board approved … Read more
After a Bengaluru-based customer reported an issue with the Zomato app, the company’s humorous response sparked laughter among social media users. The customer noticed a glitch in the app regarding the inability to edit birthdays and anniversaries, sharing a screenshot on X and tagging Zomato. In response, Zomato delivered a witty comeback, igniting a viral … Read more
The upcoming week promises to be incredibly busy for primary market enthusiasts, with eight initial public offerings (IPOs) slated to open for subscription, featuring two mainboard issues. Moreover, Dalal Street is bracing for the highly anticipated debuts of nine new shares. In the previous week, JG Chemicals Ltd, RK Swamy Ltd, Mukka Proteins, Sona Machinery, … Read more
Bernard Arnault and Jeff Bezos Lead, Elon Musk Drops to Third Spot in Latest Ranking. French businessman Bernard Jean Etienne Arnault has surpassed Amazon founder Jeff Bezos to become the world’s richest person, with an astonishing net worth of $197 billion, according to data from the Bloomberg Billionaires Index. Arnault, the founder and chairman of … Read more
Elon Musk Drops to Third Richest Person in the World, With Net Worth of $189 Billion: Bloomberg Billionaire Index. Tech billionaire Elon Musk has experienced a significant decline in his net worth this year, with a reported loss of $40 billion, marking the steepest fall among the top 10 richest individuals during this period. Once … Read more
Nomura Report: Rural Consumption Grows at Slower Rate, Urban Consumption Declines Compared to Previous Years. A recent report from Nomura highlights how economic shocks such as demonetisation, goods and services tax (GST) implementation, and the COVID-19 pandemic have significantly influenced the growth of consumption expenditure over the past decade. According to Business Standard, which cited … Read more
Adani Defence and Aerospace Marks Significant Milestone with Inauguration of Two State-of-the-Art Facilities for Ammunition and Missile Manufacturing. Adani Group Announces Significant Investments in Defence Sector Over Next Decade to Support India’s Self-Reliance Agenda. Amid the Centre’s push for self-reliance in defence manufacturing, the Adani Group has unveiled plans for substantial investments in the sector … Read more
Seven New IPOs Set to Launch Next Week
Ranjit Shahani, the former Vice Chairman and Managing Director of Novartis India and Chairman of JB Pharmaceuticals, has passed away, as reported by CNBC-TV18. Shahani’s impact on India’s pharmaceutical and healthcare sectors was profound, characterized by his leadership across various organizations. Armed with a Mechanical Engineering degree from the prestigious Indian Institute of Technology, Kanpur, … Read more
As policymakers remain vigilant for signs of strain in the labor market amid the backdrop of the highest U.S. policy rate in decades, analysts suggest that Friday’s jobs report may not offer much in terms of such indicators. Amid ongoing scrutiny from policymakers regarding potential weaknesses in the labor market due to historically high U.S. … Read more
Gold Prices Continue Record Run as US Fed Rate Cut Expectations Grow. Gold prices maintained their upward trajectory throughout the week, fueled by mounting speculation of a US Federal Reserve rate cut following Jerome Powell’s testimony before the US Congress. Spot gold reached a record high on Friday, briefly surpassing the $2,200 mark. On the … Read more
Following fruitful negotiations between the Indian Banks Association (IBA) and several bank employees’ unions, PSU bank employees are poised to reap a host of benefits. The agreement, referred to as the IBA and bank unions pact, promises a noteworthy 17% hike in monthly salaries, along with aligning the Dearness Allowance (DA) to 8088 points, slated … Read more
February’s Mutual Fund Growth Led by Small-cap Funds with Rs 2,922.4 Crore Inflow, Mid-caps Follow Strongly at Rs 1,808.2 Crore. Sizeable Contributions from Large-cap Funds Boost Mutual Fund Flows with Rs 921.14 Crore Inflow in February. In a recent update from the Association of Mutual Funds in India (AMFI), the equity category experienced a significant … Read more