COST Financial News

The increased uptake of collective investment trusts in the DC plan market raises crucial questions about the future of mutual funds in workplace retirement plans, according to new research by Cerulli.

Jindal Stainless on Monday said it has acquired the remaining 46 per cent stake in Chromeni Steels Private Ltd (CSPL) for Rs 278 crore. Consequently, CSPL has become a wholly-owned subsidiary of the company, with effect from June 15, 2024, Jindal Stainless Ltd (JSL) said in a release. «Jindal Stainless acquires remaining 46 per cent equity stake in Chromeni Steels Private Ltd. The transaction entails a total outlay of Rs 278 crore, comprising payment towards equity transfer and payment of shareholders' debt,» it said.

NHAI will begin work on the Rs 4,000-crore Chattergala tunnel in Jammu and Kashmir at the earliest, Union Minister of Road Transport and Highways Nitin Gadkari said on Monday. Gadkari on Monday chaired a review meeting that was also attended by Union Minister of State in the Prime Minister's Office (PMO) Jitendra Singh. «The prestigious Chhatergala tunnel work, costing about Rs 4,000 crore, will be executed by the National Highways Authority of India (NHAI) and the underpasses on the Kathua express corridor section, wherever demanded by the public, will be undertaken at the earliest,» an official spokesperson said after the review meeting. During the meeting, Singh thanked Gadkari for accepting most of the suggestions and proposals put across by him.

In this update, shareholders will receive the sum – representing around 38p per share – via a «bonus issue» on a pro rata basis of B shares followed by the redemption of those shares. abrdn Diversified Income & Growth eyes managed wind-down ADIG chair Davina Walter explained the scheme would be the «fairest and most efficient way of returning substantial amounts of cash to shareholders». This is because it would reduce costs for the trust, unlike for tender offers, and if approved, the scheme would not require any additional action from shareholders. Investors will be consulted at ...

European Commission has slapped 8-11.4% anti-dumping duty on Indian optical fibre cable (OFC) manufacturers including Sterlite Technologies, Birla Cables, Universal Cables, Vindhya Telelinks and others who were exporting OFC to Europe. After a six-month long investigation, including being physically present at the factory premises of these companies, the Commission, last week decided to levy the duty on as many as ten companies, barring HFCL which was found to be following fair business practices. Sterlite Technologies Ltd and its subsidiary Sterlite Tech Cables Solutions Ltd are facing the highest levy of 11.4%, followed by Birla Cables, Universal Cables and Vindhya Telelinks who are facing a duty of 8.7%.

The Canadian Real Estate Association says that homebuyers were sleepwalking through the spring, but the first interest rate cut in more than four years could serve as a wake-up call.

India is likely to ask for a three-year exemption for its micro, small and medium enterprises (MSMEs) from a proposed mandatory tariff on carbon-intensive imports in talks on a free trade deal with European Union negotiators starting next week, two people aware of the matter said. India, which opposed the tax at the World Trade Organization's last ministerial meeting in February-March in Abu Dhabi, will make its stand clear again on the during upcoming talks on a free trade agreement (FTA) with the EU. The eighth round of FTA talks is slated to be held in Brussels on 24-28 June.

Hyundai Motor India Ltd plans to launch four electric vehicle models in future, including Creta EV, in the last quarter of the current fiscal, according to the company's preliminary IPO papers filed with Sebi. The company is looking to maximise the price competitiveness of its electric vehicle (EV) models and intends to focus on securing local production capabilities for key parts, such as cells, battery packs, power electronics, and drivetrain and building a localised EV supply chain. In the draft red herring prospectus (DRHP), Hyundai Motor India Ltd (HMIL) said it seeks to calibrate its EV strategy and plan EV timelines in line with market demands in India by launching the appropriate EV models within each price segment. «We are following a transition strategy, having started with the launch of high-end premium EVs and plan to transition towards the mass markets as the EV market and ecosystem scales up in India. In line with the same, we aim to launch four EV models in future, including Creta EV in the last quarter of fiscal 2025,» the company said.

fuel price hike, Karnataka Chief Minister Siddaramaiah on Monday challenged the party to organise demonstrations against the Centre over «injustice» to the State. Petrol prices have gone up by Rs three per litre and diesel by Rs 3.5 per litre following the Karnataka government's decision to increase the sales tax on them on Saturday. The Chief Minister alleged that the State faced injustice by the BJP-led NDA government in its share of central funds and GST devolution and in matters relating to release of funds for State projects and dared the BJP to hold protests over this. Siddaramaiah said the crude oil prices were ruling at USD 113 per barrel at some stage during the tenure of former Prime Minister Manmohan Singh but presently, it is at USD 82.35. In 2015, the crude oil price was USD 52 per barrel, which decreased further in the next year, he claimed.

U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation

Chinese Premier Li Qiang has arrived in Australia on a relations-mending mission

Chinese Premier Li Qiang says he has agreed with Australian Prime Minister Anthony Albanese to properly manage their nations’ differences as they emerge from a hostile era in which minister-to-minister contacts were banned and trade barriers cost Austr...

Since calling a general election for July 4, British Prime Minister Rishi Sunak has been at pains to repeat a key message on the campaign trail: The economy is turning a corner

ResiClub co-founder and editor-in-chief Lance Lambert discusses the U.S. housing affordability crisis on 'Making Money.'

NEW DELHI:Packaged foods company Nestle India has said it has benefitted "immensely" from its parent company's intellectual property rights, or IPRs, over the years, leading to greater speed of innovation as well as cost-savings to the business. The statement comes in the wake of a majority of shareholders rejecting a proposal to increase the royalty payout to its Swiss parent, Société des Produits Nestlé S.A., from 4.5% to 5.25% per annum.

ICRA Limited , believes that the market shares of the top 5 cement companies should climb to 55% by March 2025.The market share of the top five cement companies—Ultratech Cement, Adani Group companies ( Ambuja Cement and ACC , Shree Cement, Dalmia Cement, and Nuvoco Vistas has increased significantly, from 45% in 2015 to 54% in December 2023.Also Read- FPI ease selling streak in June as outflows decline to ₹3,064 crore in Indian equities; When will inflows resume?ICRA expects this trend to continue, with both organic growth and inorganic expansion driving industry consolidation. In the last nine years, there have been 15 mergers and acquisitions, highlighted ICRA Research.

India Inc’s sequential revenue growth is expected to taper in the first quarter of FY25, stated a report by ICRA. While signs of a revival in rural demand have emerged, ICRA said that headwinds such as a slowdown in the Government of India’s (GoI) spending during the Parliamentary elections and onset of monsoon period are likely to weigh on growth in H1 FY2025. However, the operating profit margin (OPM) will remain steady in the range of 15-18 per cent, despite the expected tapering in revenue growth, as raw material costs are expected to remain steady. 

electric vehicles (EVs) made by Chinese companies now stare at a road bump in Europe as the European Union (EU) last week decided to hike tariffs on Made-in-China EVs. The EU decision follows a scare in the Western world about China flooding it with state-subsidised EVs. The Alliance for American Manufacturing has said that government subsidized Chinese EVs “could end up being an extinction-level event for the U.S.

₹50 lakh have an additional task: declaring their assets. According to Income Tax (IT) laws, individual and Hindu Undivided Family (HUF) taxpayers with net income over ₹50 lakh must fill out details of their assets in Schedule AL (asset and liability) of ITR forms 2 or 3. This includes immovable property, financial assets, vehicles, art, sculptures, and corresponding liabilities.

bringing down costs, Gates said they've "gone back to the basics", stating: "We've been willing to go back to the basics and do what people have always said should be done, which is to cool the plant with metal instead of water. And that means that this problem of high pressure and extra heat when you shut down is completely solved. And so the complexity, that's meant that nuclear has gotten more complex and more expensive.

₹2,644."MTAR Technologies is a precision machining company with exposure across niche sectors like fuel cells (for Bloom Energy), nuclear, defence, and space. Rising power costs in the US due to grid problems, coupled with the rising cost competitiveness of Bloom Energy, will result in significant tailwinds for MTAR. We value the stock at 45x FY26F EPS to reach our target price of ₹2,644.