The government's fiscal deficit as of end-December touched 59.8 per cent of the full-year Budget Estimate on subdued growth in revenue collections, according to finance ministry data released on Tuesday. In actual terms, the fiscal deficit -- which is the difference between expenditure and revenue -- was Rs 9,92,976 crore during the April-December period of [...]
Vedanta Aluminium on Tuesday said it has raised USD 250 million (around Rs 2,045 crore) through sustainability-linked loans from international banks to finance its capital expenditure and reduce carbon footprint. Sustainability-linked loans are debt where a portion of the interest rate is linked the borrower's ability to meet sustainability targets. The loans were granted on [...]
Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs [...]
It is the last day of January and for many, it's ‘Salary Day’. With a paycheck in hand, existing investors look to diversify their portfolios while new investors enter the market to benefit from the rapid growth and exponential returns on their investments. Out of the multiple categories of stocks, Blue-chip stocks are considered a [...]
Healthy growth in the procurement of goods and services by central and state governments through GeM portal is helping the platform to catch up with global e-commerce giants like Amazon and Flipkart, the Economic Survey said on Tuesday. The Government e-Market (GeM) portal was launched on August 9, 2016 by the commerce ministry for online [...]
Production of eight infrastructure sectors rose at a three-month high of 7.4 per cent in December 2022 against 4.1 per cent in the same month of previous year on a better show by coal, fertiliser, steel, and electricity segments, according to the official data released on Tuesday. Crude oil output, however, contracted by 1.2 per [...]
Benefits of the production linked incentive (PLI) scheme for as many as 14 sectors will help make domestic manufacturers globally competitive, attract investment in cutting-edge technology and make India an integral part of the global value chain, the Economic Survey said on Tuesday. The scheme will benefit the MSME ecosystem in the country, it said. [...]
Indian Oil Corporation (IOC), the nation's largest oil firm, on Tuesday reported returning to profitability in the December quarter after losses in the preceding six months from holding fuel prices despite a rise in cost. Standalone net profit of Rs 448.01 crore in October-December 2022 compared with Rs 5,860.80 crore net earning in the same [...]
The number of demat accounts rose to 10.6 crore in November 2022, a sharp surge of 39 per cent on yearly basis, Economic Survey 2022-23 said on Tuesday. However, the incremental additions of demat accounts have been on a declining trend during FY23 relative to FY22, probably because of the increased volatility in the secondary [...]
Leading fund house Axis Mutual Fund is looking to garner Rs 3,000 crore from the new fund offer, Axis business cycles fund, which will open for subscription from February 2. The open-ended equity scheme will follow business cycle-based investing theme, the fund house said on Tuesday. The new fund offer, which will be managed by [...]
