Experts Financial News

Piyush Goyal’s visit to Oman this week, the government said Sunday. Goyal will visit Oman from January 27-28 for the 11th Joint Commission Meeting with Qais bin Mohammed bin Moosa al-Yousef, minister of commerce, industry and investment promotion, Oman.

Samajwadi Party (SP) chief Akhilesh Yadav emphasised that the Maha Kumbh held once every 12 years, is a sacred event linked to the faith of the people, and is no space for negative or divisive politics in such a spiritual gathering.

U.S. interest rates and declining oil prices. The downturn was primarily driven by a sell-off in pharma, real estate, and auto stocks. The benchmark BSE Sensex lost 329.92 points or 0.43% to close at 76,190.46, while the broader Nifty 50 index closed at 23,092.20, lower by 113.15 points or 0.49%.

Automobile exports from India rose 19 per cent year-on-year in 2024 led by a robust dispatch of two-wheelers, passenger vehicles and commercial vehicles, according to SIAM data. Overall shipments rose to 50,98,810 units last year, up 19 per cent from 42,85,809 units exported in 2023.

IPO is entirely a fresh issue of 2 crore equity shares, according to the draft red herring prospectus (DRHP). The company is planning to use Rs 289.4 crore out of the IPO proceeds for acquisition of dry bulk carriers in the supramax category in the secondary market, and further use Rs 19.5 crore for repaying debt.

IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant framework for the deeptech ecosystem, and making the deferment of the time of payment of tax on Employee Stock Option Plan available to employees of all DPIIT-recognized startups also tops the Budget expectations of the industry.

Nishant Dev made a smashing professional debut as he demolished USA's Alton Wiggins in the super-welterweight category at The Cosmopolitan in Las Vegas. In a dominating debut, Dev won the contest with a few seconds left in the first of the six-round bout via technical knockout on Saturday.

Malpani Pipes and Fittings is set to launch its SME initial public offering (IPO) on January 29, 2025, with a price band of Rs 85-90 per share. The IPO aims to raise Rs 25.92 crore through the issuance of 28.80 lakh fresh shares. Specializing in the manufacturing of high-quality pipes, including HDPE, MDPE, LLDPE, and Sprinkler and Drip Pipes under the Volstar brand, Malpani Pipes serves key sectors such as irrigation, telecommunications, and infrastructure.

Hindustan Zinc Ltd (HZL) is likely to turn net debt-free by the next financial year despite significant investment in capacity expansion, according to a report. According to brokerage firm Ventura Securities global demand for base metals — zinc and lead, is expected to grow at a CAGR of 6/7 per cent… Domestically, India is a net exporter of zinc while having a deficit in lead supplies. Both these circumstances are favourable to HZL.

Maharashtra Agriculture Minister Manikrao Kokate on Sunday reiterated that the government will not discontinue the Re 1 crop insurance scheme despite recommendations to shut it down. Speaking to the media in Nandurbar, Kokate confirmed that while some adjustments will be made, the scheme will continue in its current form to support farmers.

micro-finance institutions (MFIs) that are deviating from the regulations and demanding extortionate rates of interest from customers, Chief Minister Siddaramaiah said.

Indian Standard Time (IST) across all official and commercial platforms, with the Consumer Affairs Ministry seeking public feedback by February 14. The Legal Metrology (Indian Standard Time) Rules, 2024, aims to establish a legal framework for standardising timekeeping practices, mandating IST as the sole time reference for legal, administrative, commercial, and official documents.

Bitcoin and cryptoassets in the US, have nearly cemented digital assets as a mainstream financial asset class. Emerging markets too are increasingly embracing cryptoassets to modernize their financial systems. Amid this global momentum, India finds itself at a pivotal juncture, uniquely positioned to be a significant part of, and even lead, the global digital asset economy. Despite regulatory uncertainty and the risks involved, India is today a global Web3 powerhouse, contributing around 11% of the world’s Web3 developer base and ranking as the second-largest developer market globally. Indian founders now account for 5.4% of all Web3 startups worldwide, spearheading innovation across AI, DePIN (Decentralized Physical Infrastructure Networks), and scaling solutions.

Devendra Fadnavis on Sunday inaugurated the northbound bridge connecting the Mumbai Coastal Road with the Bandra-Worli Sea Link. Deputy CM Eknath Shinde, and ministers Ashish Shelar and Mangal Prabhat Lodha were present on the occasion.

AAP supremo Arvind Kejriwal on Sunday said the assembly election in Delhi was not just a contest for the national capital but the entire country. The election pits two contrasting ideologies — one focused on welfare of the general public and the other on benefiting a select group of wealthy individuals — against each other, he said.

Capital markets regulator Sebi on Sunday said it has launched a digital knowledge repository, "Dharohar — Milestones in the Indian securities market", on the occasion of the country's 76th Republic Day. The securities market, known for its diverse products, participants, and institutions, has a long-standing history of organised trading over the past 150 years, Sebi said. «Dharohar has been designed to document and showcase this rich heritage and evolution of the Indian securities market,» the regulator said in a statement.

US rate cuts and geopolitical tensions bolstered the appeal of silver last year. In the key London spot market, prices tested a 12-year high of $34.8 an ounce in October and ended the year with a gain of 37 percent. Meanwhile, domestic silver futures posted an 18 percent return, the highest annual return since 2020. Gold and silver have a strong positive correlation, and it usually exhibits similar price movements. Historically, both are considered precious metals and are often influenced by similar market factors. Last year gold surged more than 27 percent due to positive fundamentals like worsening geopolitical conditions and speculation over US rate cut decisions.

Honda Motorcycle and Scooter India (HMSI) Director Sales and Marketing Yogesh Mathur told PTI in an interview.