Latest Indian Economy News

Majority of Indian Large-Cap equity mutual funds failed to beat the benchmark, with 88 per cent of actively managed funds underperforming the S&P BSE 100 in 2022, according to new study by S&P Dow Jones Indices released on Tuesday. In the same period, the benchmark for Indian Equity Mid-/Small-Cap funds -- the S&P BSE 400 [...]

A total of 2,838 complaints against companies and market intermediaries were disposed of through Sebi's SCORES platform in March. At the beginning of March, as many as 2,241 complaints were pending and 2,643 fresh complaints were received during the month, the data released by Sebi on Monday showed. The regulator also noted that as of [...]

Asserting that India meets the requirements of a fair and transparent economy, Union Finance Minister Nirmala Sitharaman has urged American businesses to invest in the country. Addressing a business roundtable organized by US India Business Council, with representatives of top US companies, the finance minister said India, under the current government, is creating opportunities for [...]

Union Minister for Transport and Highways Nitin Gadkari on Monday said the dream of having a highway from Kashmir to Kanyakumari will be realised by the beginning of the next year. "Kashmir to Kanyakumari road was a dream for us. From Rohtang to Ladakh, four tunnels will be constructed. From Leh, we will come to [...]

India's focus is going to be on skilling and digitisation so that there's greater ease of living, transparency and formalisation of the economy, Union Finance Minister Nirmala Sitharaman has said, observing that the country is reaching near saturation in providing the basic facilities to the people. Speaking at a fireside chat at the Peterson Institute [...]

India's structural reforms approach has ensured that it remains a globally attractive destination for investment and the country is well-positioned in the global economy, allowing it to grow briskly, possibly faster, in the coming years, Union Finance Minister Nirmala Sitharaman has said. India's journey from the 10th largest economy in dollar terms in 2014 to [...]

Domestic equity benchmark indices began the trade on a positive note on Tuesday helped by firm global market trends and continuous foreign fund inflows. The 30-share BSE Sensex climbed 252.39 points to 60,098.90 in early trade. The broader NSE Nifty gained 85.2 points to 17,709.25. Among the Sensex firms, Kotak Mahindra Bank, State Bank of [...]

The Income Tax Department has filed an appeal against the National Company Law Tribunal approving Suraksha Group's bid to buy Jaypee Infratech Ltd (JIL) under the insolvency resolution process. Sources said the I-T Department has filed the petition before the National Company Law Appellate Tribunal (NCLAT) against the NCLT order regarding certain claims. The department [...]

The National Stock Exchange (NSE) on Monday cautioned investors against some fraudsters running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found [...]

The Centre has allowed five private firms to undertake cluster farming of specific horticulture crops in about 50,000 hectares on a pilot basis entailing an investment of Rs 750 crore, including government subsidy -- a moved aimed at making Indian produce globally competitive and boost farmers' income. Desai Agrifoods, FIL Industries, Sahyadri Farms, Meghalaya Basin [...]

Mutual funds remained bullish on the Indian equities in 2022-23 and invested Rs 1.82 lakh crore largely due to a strong interest from retail investors and the correction in the market that led to reasonable valuation. This comes following a similar amount of Rs 1.81 lakh crore invested by mutual funds in the stock market [...]

Women and Child Development Minister Smriti Irani on Monday asked social media major Meta to work in sync with the child helpline to provide quick relief to children in an emergency situation. Speaking at Digital Surakhsa Summit, Irani expressed concern over videos being made in unsafe circumstances by social media users and asked Meta to [...]

Union Road Transport and Highways Minister Nitin Gadkari along with a 13-member Parliamentary committee on Monday reviewed the construction work of the strategic Zojila tunnel, which will provide all-weather connectivity between Jammu and Kashmir and Ladakh. While terming the tunnel historic, the minister said that the project is part of a dream to connect the [...]

Benchmark indices Sensex and Nifty eked out gains in volatile trade on Monday, extending the winning streak to a sixth day even as investors preferred to stay on the sidelines ahead of the start of quarterly earnings. The 30-share BSE Sensex ended marginally up by 13.54 points or 0.02 per cent to 59,846.51. During the [...]

As the demand has started to come back slowly, diversified group Raymond expects its growth rate to remain "at least double of inflation" this fiscal, according to Raymond Chairman and Managing Director Gautam Hari Singhania. Singhania says he is "optimistically" looking at the future with growth in mid to high teens percentage in the coming [...]

Adani group's corporate brand custodian and head of corporate affairs Aman Kumar Singh, who is facing a corruption charge in Chhattisgarh, has resigned from the board of NDTV Ltd due to other preoccupations. In a stock exchange filing, New Delhi Television Ltd last week said, "Aman Kumar Singh has tendered his resignation from the position [...]

With a significant rise in housing sales post-COVID, real estate consultant Anarock has said unsold homes with developers across seven major cities fell 12 pc in the last five years, and time needed to clear these inventories have come down by half to just 20 months. In its latest report, Anarock said unsold housing stocks [...]

After withdrawing record funds in 2021-22, foreign portfolio investors (FPIs) continued their sell-off in the last fiscal too and pulled out Rs 37,631 crore from Indian equities amid aggressive rate hikes by central banks globally. The outflow trend is likely to reverse in the current financial year since India has the best growth potential in [...]

The banking sector is likely to post good numbers in the fourth quarter ended March 2023, and the total profit of public sector banks (PSBs) is expected to touch a record high of Rs 1 lakh crore in FY23, aided by the decline in bad loans and healthy loan growth. According to a senior bank [...]

Post office term deposits, which were fetching lesser returns than bank FDs in the recent past, have again become competitive with the government effecting three back-to-back increases in interest rates on small savings schemes. The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same [...]