The government plans to grant a ₹35,000 crore subsidy to IOC, BPCL, and HPCL to offset losses from selling domestic LPG at regulated prices. Despite rising input costs, the companies have kept LPG prices unchanged at ₹803 per cylinder since March 2024, resulting in under-recoveries of about ₹40,500 crore for the current fiscal year. The […]
India’s GDP growth projected to hit a 4-year low of 6.4% in FY25.
India’s GDP growth is projected to slow to 6.4% in FY25, a four-year low compared to 8.2% in FY24, according to government estimates. This falls short of the Reserve Bank of India’s revised projection of 6.6% for the fiscal year ending March 2025. The National Statistical Office (NSO) also estimates a 6.4% growth in real […]
Davin Sons Retail IPO 5.8x subscribed on Day 2; check price band, GMP, subscription, and key dates.
Davin Sons Retail’s SME IPO, which opened for subscription on Thursday, has been subscribed 5.8 times by the second day. By 11:15 am, retail investors had placed bids for 82.10 lakh shares, followed by non-institutional investors (NIIs) with 12.04 lakh shares. Qualified institutional buyers (QIBs) have not yet subscribed.
Adani Enterprises to exit Adani Wilmar in a $2B multi-phase deal.
Adani Enterprises will fully exit its 44% stake in Adani Wilmar through a $2 billion multi-phase deal to focus on infrastructure. The first phase involves selling up to 31.06% to Wilmar International’s subsidiary, Lence Pte Ltd, via a call/put option. An additional 13% will be divested to meet public shareholding norms. Adani Wilmar will rebrand […]
Budget 2025: Investment in country roads could boost the economy.
As preparations for Budget 2025 gain momentum, Finance Minister Nirmala Sitharaman and her team are set to introduce measures aimed at boosting India’s economic resilience and promoting inclusive growth. A major focus area is expected to be rural infrastructure, particularly roads. The government is likely to increase the allocation for rural road development by about […]
Hinduja Group firm plans to acquire RCAP by January and grow its financial services business to $50 billion in five years.
Hinduja Group’s IndusInd International Holdings Ltd (IIHL) expects to finalize its acquisition of debt-laden Reliance Capital (RCAP) by the end of January 2024. IIHL, which won the bid for Rs 9,650 crore, aims to triple its banking, financial services, and insurance (BFSI) business to $50 billion by 2030. The company has also committed an additional […]
7 midcap stocks hit 52-week highs, gaining up to 20% in a month.
On Tuesday, Sensex closed flat at 81,510, with a 1-point gain. Seven BSE midcap stocks reached 52-week highs, reflecting strong performance over the past month: These highs showcase investor confidence and potential growth opportunities.
PAN 2.0: CBDT announces free e-PAN updates; details here.
The central government has launched PAN 2.0, an upgraded version of the Permanent Account Number (PAN) system, aimed at enhancing taxpayer services in India. This e-governance initiative seeks to modernize the taxpayer registration process through technology. PAN 2.0 will completely replace the existing PAN/TAN 1.0 system, streamlining essential and additional PAN/TAN functions, including PAN validation […]
RBI MPC keeps repo rate at 6.5%, revises GDP and inflation forecasts.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% for the 11th consecutive meeting, with a 4:2 vote, citing concerns over inflation and uncertain growth. The RBI maintained its ‘neutral’ stance, moving away from the previous ‘withdrawal of accommodation’ stance. RBI Governor Shaktikanta Das noted […]
Ramesh Damani to meet MSTC management on Dec 9; shares rise 6%.
Shares of state-run MSTC rose by 6% to Rs 771.30 on Thursday after the company announced a one-on-one meeting with investor Ramesh Damani scheduled for Monday, December 9. MSTC, where the government holds a 64.75% stake, provides e-commerce services across various sectors. In its filing to the stock exchanges, MSTC confirmed the meeting with Damani […]
