Indians are spending nearly USD 1 billion every month on foreign travel which is significantly more than the pre-Covid levels, reveals Reserve Bank data on outward remittances. During the April-December period of 2022-23, the outward remittances under the Liberalised Remittance Scheme (LRS) for resident individuals towards 'travel' was USD 9.95 billion. The corresponding spending on [...]
Tata Chemicals, Tata Steel, Taj GVK Hotels and Resorts, Titan, Tata Motors, Tata Coffee and Tata Investment Corporation are a few Tata group companies in which mutual funds increased their stake on a quarterly basis. Tata Chemicals The company manufactures inorganic chemistry products with plants spread across four continents America, Europe, Africa and Asia. Mutual [...]
Coal India Tuesday said deaths and accidents in its mines decreased by a third in 2022 bringing down the number of accidents to an all-time low of 20 in which 18 fatalities were reported. The reduction of 31 per cent from was the result of laser-like focus on ensuring the safety of its workers, the [...]
The government is taking steps to produce "high value pharmaceuticals" in the country to reduce import dependency for such critical articles, Union Minister Mansukh Mandaviya said on Tuesday. Manufacturing of components of high-end medical devices in the country will be another big step in moving towards self reliance, the Union Minister for Chemicals and Fertilisers [...]
Foreign lender HSBC on Tuesday reported a 15.04 per cent jump in its pre-tax profit from operations in India at USD 1.277 billion for 2022. The bank had reported a pre-tax profit of USD 1.11 billion from its operations in India, which continues to be fourth largest contributor for group profits, in 2021. It has [...]
Aditya Birla Sun Life AMC on Tuesday said it has collected Rs 1,574 crore through its newly launched multi-asset allocation fund. The new open-ended scheme-- Aditya Birla Sun Life Multi Asset Allocation Fund -- which invests in equity, fixed income, gold, silver and real estate investment trusts (REITs) was launched on January 11. "The NFO [...]
Baring Private Equity India Investment Manager LLP has settled with markets regulator Sebi a case pertaining to alleged flouting of AIF rules. This came after Baring Private Equity (noticee) proposed to settle the proceedings through a settlement order "without admitting or denying the findings". In the settlement order passed on Monday, Sebi said, "The instant [...]
Capri Global Capital Limited ended marginally lower at Rs 698 levels in Tuesday’s trading session. However, in the past six months the stock has scaled by 10 percent and in a year's time frame it has gained 25 percent. Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) with a presence primarily [...]
Equity benchmark indices Sensex and Nifty ended marginally lower in a highly volatile trade on Tuesday as investors preferred to stay cautious ahead of the release of minutes of the Federal Open Market Committee (FOMC) meeting. The BSE Sensex edged down 18.82 points or 0.03 per cent to settle at 60,672.72. During the day, it [...]
Nearly 45 per cent of Indian respondents plan to move into a new home over the next two years and most of them, including millennials, want to purchase residential properties instead of renting, according to a survey. Based on the survey, property consultant CBRE India released a report 'Voices from India: How will people live, [...]
