Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic [...]

Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. [...]

Retail investors' interest in the Indian mutual fund industry has seen an uptick with the value of assets held by them witnessing a rise of 9.3 per cent to Rs 23.4 lakh crore in January this year. In comparison, the value of assets held by retail investors in mutual funds stood at Rs 21.40 lakh [...]

The queues of cars from Laos waiting to fill their tanks at petrol stations across the border in Thailand have sparked fears the landlocked Asian country’s debt is spiralling out of control and could go the way of Sri Lanka. Laos has been struggling with heavy debt mainly due to mega infrastructure projects, such as [...]

The Uttar Pradesh government is likely to miss the budgeted revenue surplus of 2.8 per cent by a wide margin, even though it may meet the fiscal deficit target of 3.5 per cent next fiscal, says a report by India Ratings. Noting that the UP budget presented earlier this week made many over-the-top assumptions regarding [...]

The country's fertiliser imports rose by 3.9 per cent to 19.04 lakh tonnes in January this year compared to the year-ago period, according to the Fertiliser Ministry data. The country imported 18.33 lakh tonnes of fertilisers during January 2022. According to the latest data, of the total imports of 19.04 lakh tonne, 10.65 lakh tonnes [...]

Drug firm Venus Remedies on Monday said it has received good manufacturing practices (GMF) certification from the Saudi drug regulator for its production facilities at Baddi, Himachal Pradesh. The Saudi Food and Drug Authority (SFDA) granted the certification which includes first-time approval for pre-filled enoxaparin syringes and general injection facilities, the company said in a [...]

Benchmark indices began the trade on a weak note on Monday in tandem with bearish trend in global markets amid concerns over more rate hikes by developed economies. Fresh foreign fund outflows and weak trend in IT counters also dented investor sentiments. The BSE Sensex declined 354.81 points to 59,109.12. The NSE Nifty slipped 107.4 [...]

Sector regulator Trai on Friday issued directions to telecom service providers to submit service quality reports for each state and Union Territory too. Trai said submission of state and Union Territory wise report for QoS (quality of service) parameters is essential for optimum analysis of service quality being provided by telcos. "This will also help [...]

The global economic outlook has improved in recent months, but uncertainties still remain, RBI Governor Shaktikanta Das said on Friday as he called upon G20 nations to resolutely address the challenges, including debt distress and threats to financial stability, confronting world economies. Addressing the inaugural session of the meeting of G20 finance ministers and central [...]

The BJP-ruled Gujarat government on Friday presented a Rs 3.01 lakh crore budget which imposed no new taxes. Finance Minister Kanubhai Desai presented the budget for 2023-24 in the Assembly here on the second day of the Budget Session. This was the first budget of the new Bharatiya Janata Party (BJP) government headed by Chief [...]

Over 7,000 trucks laden with goods, including perishable items like fruits, vegetables, juices, poultry, and eggs, have been stranded at the Pakistan-Afghanistan Torkham border for the last five days due to the closure of the crossing point by the Pakistan government, a trade body said on Friday. Director Pak-Afghan Joint Chamber of Commerce and Industry [...]

Prime Minister Narendra Modi on Friday flagged the threat of unsustainable debt facing some developing nations as he called upon the Group of 20 (G20) nations to focus on the world's most vulnerable citizens. Trust in international financial institutions has eroded partly because they have been slow to reform themselves, he said in a video [...]

NSE Indices Ltd, an NSE arm, on Friday said it has launched the country's first ever municipal bond index. The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating, NSE Indices said in a statement. The index was [...]

Prime Minister Narendra Modi on Friday said the Union Budget 2023-24, like in the previous 8-9 years, focuses on the agriculture sector, and steps are being taken to reduce India's import dependence on oilseeds and edible oils. Addressing a post-budget webinar with stakeholders of agriculture and cooperative sectors, the Prime Minister said India's agriculture budget [...]

Benchmark indices started on a positive note on Friday in-line with optimism in the US market and buying in Reliance Industries. The BSE Sensex climbed 297.25 points to 59,903.05 points after a positive start. The NSE Nifty advanced 88.5 points to 17,599.75 points. In the Sensex pack, Bajaj Finserv, Kotak Mahindra Bank, State Bank of [...]

The National Highways Logistics Management Limited (NHLML) and Jodhpur Discom have signed an agreement to set up 11 solar power plants at six places in a section of the Amritsar-Bhatinda-Jamnagar Expressway passing through Rajasthan. A Memorandum of Understanding (MoU) has been signed between both the parties during a meeting held under the chairmanship of Chief [...]

Former RBI governor D Subbarao on Thursday said there was not 'sufficient emphasis' on jobs in the Budget for 2023-24 and it failed to grapple with the unemployment problem head on, except to believe that growth itself will generate jobs. Subbarao noted that the unemployment problem was quite bad even before the Covid and it [...]

Finance Minister Nirmala Sitharaman on Thursday held a bilateral meeting with US Treasury Secretary Janet Yellen and discussed issues relating to crypto assets, strengthening multilateral development banks and global debt vulnerabilities. The deliberations were held on the sidelines of the first meeting of the G20 finance ministers and central bank governors here under the G20 [...]

Leading bourse NSE on Thursday said it has received final approval from markets regulator Sebi to set up a Social Stock Exchange (SSE) as a separate segment on its platform. The final clearance was received on February 22, the National Stock Exchange (NSE) said in a statement. The Social Stock Exchange segment will provide new avenue [...]

The labour intensive apparel sector will contribute significantly in taking the country's merchandise exports to USD one trillion by 2030, AEPC said on Thursday. The Apparel Export Promotion Council (AEPC) said that the incentives in the Budget will help the apparel industry focus on market and product diversification. The council chairman Naren Goenka said that [...]

Haryana Chief Minister Manohar Lal Khattar on Thursday said no fresh tax will be imposed, as he presented the state budget for the financial year 2023-24. Khattar, who also holds the finance portfolio, proposed Rs 1,83,950 crore state budget for the year 2023-24, an increase of 11.6 per cent over the revised estimates of Rs [...]

Finance Minister Nirmala Sitharaman on Wednesday embarked on a visit to Bengaluru to attend the first meeting of the G20 Finance Ministers and Central Bank Governors under the G20 India Presidency. The two-day meeting beginning February 24 will focus on priorities under global economy, international taxation, financial sector, international financial architecture, sustainable finance, infrastructure, health [...]

Prime Minister Narendra Modi on Thursday said the government is fully committed to sustainable development in the field of green energy. Modi was responding to a tweet by Union Minister for Heavy Industries, Mahendra Nath Pandey which said that electric vehicles under the FAME ll scheme have saved 22.9 crore litres of fuel as well [...]

Benchmark indices declined in early trade on Thursday, falling for the fifth straight session, amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows and a mixed trend in the US market also hit investor sentiments. In initial trade, the BSE Sensex declined 92.7 points to [...]

Domestic cable and wire industry has urged the government to introduce strict laws to discourage the use of counterfeit electrical products by real estate developers. In the last decade, deaths due to electrocution have increased in the country. During a fire outbreak, smoke inhalation kills more people than the fire itself, R R Kabel Managing [...]

Capital markets regulator Sebi has proposed allowing mutual funds to introduce five new categories under ESG (environmental, social and governance) scheme. The five new categories should be exclusions, integration, best-in-class and positive screening, impact investing and sustainable objectives. Presently, mutual funds can launch only one ESG scheme under the thematic category of equity schemes. Considering [...]

Foreign direct investment (FDI) into India declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data. The FDI inflows stood at USD 43.17 billion during the corresponding period of the previous year. The total FDI inflows, which includes [...]

Benchmark Sensex plunged by 927 points to close at a three-week low while the broader Nifty settled at a four-month low on Wednesday amid weak global trends as investors braced for the release of the Federal Open Market Committee minutes later in the day. Falling for the fourth day in a row, the BSE Sensex [...]

The Uttar Pradesh government on Wednesday presented the budget FY24 with an aim to lay the foundation for a self-reliant Uttar Pradesh and focus on the all-around development of the state for making it a USD 1 trillion economy. The budget of Rs 6,90,242.43 crore for FY24 was the biggest in the state's history. "This [...]

The Uttar Pradesh government on Wednesday proposed Rs 750 crore for maintenance of stray cattle and allocated Rs 120 crore for establishment of cow protection centres. The state Budget for 2023-24 also proposed 17,000 'Kisan Pathshalas' and allocated funds for subsidised electricity supply to private tube wells and agriculture universities. Out of 187 proposed cow [...]

Leading stock exchange NSE has decided to extend the trading hours for interest rate derivatives contracts till 5 pm from Thursday onwards. At present, the contracts are traded between 9 am and 3:30 pm. The change in timing is aimed at converging it with underlying market timings, the National Stock Exchange (NSE) said in a [...]

The Uttar Pradesh government on Wednesday presented a Rs 6,90,242.43 crore Budget, including new schemes worth Rs 32,721.96 crore, for the financial year 2023-24. The total receipt is estimated at Rs 6,83,292.74 crore, which includes revenue receipts of Rs 5,70,865.66 crore and capital receipts of Rs 11,247.08 crore, Uttar Pradesh Finance Minister Suresh Kumar Khanna [...]

Stock market benchmark indices fell in initial trade on Wednesday tracking weak global trends ahead of the release of minutes of the Federal Open Market Committee (FOMC) meeting. The BSE Sensex fell 329.12 points to 60,343.60 after a weak beginning. The NSE Nifty declined 97.3 points to 17,729.40. From the Sensex pack, IndusInd Bank, Wipro, [...]

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 [...]

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 [...]

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, [...]