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India Shelter Finance files for ₹1,800 crore IPO paper with Sebi Two additional companies that received approval from the regulator to launch their initial public offerings are Shiva Pharmachem, based in Vadodara, and Onest Ltd, a fast-moving consumer goods (FMCG) company. Five companies had submitted initial public offering (IPO) documents or draft papers to the regulator from July to August received observation letters between November 7 and 16, according to a Tuesday update from the Sebi. Also read: Shiva Pharmachem files DRHP to raise ₹900 crore via IPO In Sebi's terminology, securing observation letters implies approval to initiate the IPO.

TOKYO : A crew member who was recovered from the ocean after a US military Osprey aircraft carrying six people crashed Wednesday off southern Japan has been pronounced dead, coast guard officials said. The cause of the crash and the status of the five others on the aircraft were not immediately known, coast guard spokesperson Kazuo Ogawa said. Initial reports said the aircraft was carrying eight people, but the US military later revised the number to six, he said.

Investing.com — The U.S. dollar stabilized in early European trade Wednesday, remaining near a three-month low amid growing expectations that the Federal Reserve has completed its series of rate hikes and could begin cutting rates early next year.

Narendra Modi, which met on Tuesday night, has approved the terms of reference for the 16th Finance Commission, though the government is yet to choose the commission's members, information and broadcasting minister Anurag Thakur said on Wednesday. The cabinet also extended the tenure of the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) for another five years from 1 January 2024 and allocated another ₹11,80,000 crore to the scheme, which provides free rations to the poor, Thakur added. The PMGKAY scheme, launched during the pandemic to support people amid lockdowns, has been vital for the poor, the minister said.

New Delhi: COP27 (Conference of Parties) at Sharm el-Sheikh, the Egyptian city, was scheduled to wrap up last year on 18 November after two-weeks of talks. Hard-fought negotiations, however, went down to the wire at the global climate conference attended by about 100 heads of State and over 190 countries, and when it eventually closed almost two days later, had a breakthrough to show—a loss and damage (L&D) fund— financial assistance for countries vulnerable to climate change impacts. It is not unusual for COP negotiations—the annual conference convened under the United Nations Framework Convention on Climate Change (UNFCCC)—to go into extra time.

Telangana Assembly Elections will conclude at 6 pm on Thursday, November 30. Telangana is the last state to go to polls this year. The exit polls results for all the five states — Rajasthan Madhya Pradesh, Mizoram, Chhattisgarh and Telangana — will be declared after the voting ends in Telangana on Thursday.

Torrent Power rallied more than 21% on Wednesday’s trading session, hitting a new high to ₹1,004 per share on National Stock Exchange (NSE) amid heavy volumes. The stock was trading at ₹988 per share at 9:50 am IST on November 29, up by 15% from the opening price of ₹858 apiece. A cumulative of 3.4 million shares were traded on both NSE and BSE, contrasting with the one-week average volume of 600,000.

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assembly elections have concluded, with Telangana marking the final chapter on November 30. All eyes are now on the results, slated to be announced on December 3.

₹100 crore over the next three to four years. With these internally accrued funds the company plans to enter new markets such as Uttar Pradesh, Karnataka and Rajasthan by 2024, Vinay Khare, its director, told Mint. To support its growth, the company plans to set up its own malt plant with a capacity of 6,000 litres a day, and a new production unit.

cabinet on Wednesday approved the Terms of Reference (TOR) for the sixteenth Finance Commission to recommend the tax distribution between the Union and the States of the net proceeds of taxes, on the measures needed to augment the resources of local bodies and to review the present arrangements on financing Disaster Management initiatives. «The selection of chairman and members will happen soon and the detailed terms of reference will be issued later,» a senior official told ET. The commission once constituted, will give its report by October 31, 2025. The Finance Commission is a constitutional body that determines the method and formula for distributing tax proceeds among the Centre and states. It suggests distribution of taxes and grants and works based on the terms of reference set by the finance ministry for a five-year period, after being approved by the centre. The recommendation of the sixteenth Finance commission will be valid for five years, from April 1, 2026 to March 31, 2031. The Fifteenth Finance Commission was constituted on November 27, 2017.

Neelkanth Mishra, Chief Economist, Axis Bank, says “biggest risk right now is the global cost of capital, the risk-free rate, the US treasury yield is likely to spike up again when the world starts observing how bad the US fiscal condition is and also the after effects of the crowding out that the US government is doing which is driving significant dollar shortages in the rest of the world. So, the global outlook still looks pretty bleak to me.” What is your view of the world? You are forcing me to start with a negative comment. I am very worried about the world. I think the financial markets are ignoring some very meaningful risks. I am just hoping that we are able to navigate them and the regulators in the west are able to navigate them with some ease. So, the biggest risk right now is the global cost of capital, the risk-free rate, the US treasury yield is likely to spike up again when the world starts observing how bad the US fiscal condition is and also the after effects of the crowding out that the US government is doing which is driving significant dollar shortages in the rest of the world. So, the global outlook still looks pretty bleak to me.

Midcap stocks have outperformed the benchmark indices in 2023. These high-growth companies are often picked up by institutions based on factors such as liquidity and valuation. Currently, the wind is flowing towards midcaps and smallcaps as compared to largecaps as euphoria is still building up in the broader market.

new fund offers (NFOs) in gold ETFs recently. Even Baroda BNP Paribas mutual fund house launched its Baroda BNP Paribas Gold ETF on November 28, 2023, thus, adding to the list of AMCs allowing prospective investors to invest in gold through exchange-traded funds (ETFs). Repeated instances in historical data consistently demonstrate that gold serves as a reliable safeguard against inflation.

artificial intelligence (AI) are clear the moment you try it. But remarkableness is also a problem for managers. Working out what to do with a new technology is harder when it can affect so many activities; when its adoption depends not just on the abilities of machines but also on pesky humans; and when it has some surprising flaws.

By Jonathan Stempel

Bharat Heavy Electricals (BHEL), a leading engineering and manufacturing company in the energy and infrastructure sectors, gained sharply in Wednesday's trade on multiple positive developments. The Ministry of Defence on Tuesday signed a contract with the company for the procurement of 16 upgraded Super Rapid Gun Mount (SRGM) along with associated equipment and accessories for the Indian Navy under the ‘buy’ (Indian) category at a total cost of ₹2,956.89 crore.

Asian stocks briefly made one-week highs on Wednesday, bonds rallied and the dollar sank on new hints at U.S. interest rate cuts, while the New Zealand dollar jumped after its central bank said another hike may be necessary if inflation proves stubborn. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% in early trade before weakness in Hong Kong tech shares dragged it back to flat. Japan's Nikkei fell 0.2%.

US Federal Reserve will not raise interest rates further. On Tuesday, domestic frontline indices ended with gains as fag-end buying helped snap two-day losing run despite mixed global cues. The Sensex ended 204.16 points, or 0.31%, higher at 66,174.20, while the Nifty 50 gained 95.00 points, or 0.48%, to close at 19,889.70.