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nutrient-based fertiliser subsidy rates for rabi season 2023-24 with an outlay of ₹22,303 crore to ensure farmers continue to get soil nutrients at reasonable rates despite high global prices. The subsidy for the upcoming rabi season will be applicable from October 1, 2023, till March 31, 2024, information and broadcasting minister Anurag Thakur said at a press meeting on Wednesday. For nitrogen-based fertiliser, the subsidy will be ₹47.2 per kg, for phosphorus it will be ₹20.82 per kg, for potash ₹2.38 per kg and for sulphur ity will be ₹1.89 per kg, he said. These rates are, however, below those during the kharif season. For instance, the nitrogen subsidy announced in May for this year's kharif season was ₹76 per kg, while that for phosphorus was ₹41 per kg. This is due to «rationalisation of subsidy on P&K fertilisers in view of recent trends in the international prices of fertilisers and inputs,» said a government statement. «Farmers will continue to get fertiliser at last year's rates,» said Thakur. The Centre was to spend ₹44,000 crore in 2023-24 on nutrient-based fertiliser subsidy, according to the budget for this financial year.

Alta Capital has acquired Goldman Sachs' and Warburg Pincus' 100% stake in the country's largest student housing platform, Good Host Spaces, for $320 million, or nearly Rs 2,700 crore, said persons with direct knowledge of the development. Goldman held around 70% in the company that owns and operates third-party purpose-built, on-campus student housing assets across key universities including Manipal University, OP Jindal Global University and Shoolini University. «The deal with Alta Capital marks the complete exit of both Goldman Sachs and Warburg Pincus. While the talks were on for the last few months, the transaction was concluded last week,» said one of the persons mentioned above. Prior to this investment, Alta Capital, founded by Siddhartha Gupta, former managing director of Blackstone India, has invested $325 million in India's largest managed office spaces operator, Table Space, and $200 million in Pragati Warehousing.

Muthoot Finance sold a gold loan portfolio of Rs 725 crore to Asset Reconstruction Company of India (Arcil) on a par, said two people with knowledge of the matter. This is the first time a gold loan portfolio is being sold by a lender to an asset reconstruction company (ARC). Most lenders prefer in-house recovery since the value of gold is adequate to cover the value of the loan disbursed. Muthoot did not take a significant haircut as gold value has appreciated and the transaction is structured in a way that upside would be shared by the Avenue Capital backed ARC with the finance company. Kerala-based Muthoot Finance sold the gold loan portfolio under the 15:85 structure wherein 15% of the consideration is paid in cash and the balance is in the form of security receipts. Muthoot Finance and Arcil did not respond to ET’s request for comments. Muthoot Finance has a leadership position in the gold loan business and gold loan portfolio is about 86% of its consolidated book, as on June 30, according to a report by Icra Ratings dated August 28. Muthoot’s gold loan book has more than doubled over the last five years to Rs 66,039 crore as of June 2023, Icra has stated. Most banks and finance companies have resorted to auctions of gold to recover their dues. In the fiscal years 2023 and 2022, gold loan auctions undertaken by Muthoot Finance stood at Rs 2,203 crore and Rs 5,211 crore, respectively.

NEW DELHI : The Union cabinet on Wednesday cleared a ₹22,303-crore subsidy for phosphatic and potassic fertilizers for the rabi season that runs till the end of March. While the amount is sharply lower than the previous year, the government assured that farmers will remain protected since international fertilizer prices have fallen, reducing the need for hefty support. The cabinet also approved fresh rates under the nutrient-based subsidy (NBS) scheme for NPK (nitrogen, phosphorus, potassium) fertilizers.

MUMBAI : Indian stocks extended their decline for a fifth straight session on sustained selling by foreign and retail direct investors amid rising bond yields in the US, the Israel-Hamas war, which is now threatening to engulf other countries, and rising crude prices. Market experts expect stocks to fall further. Benchmark indices Nifty and Sensex fell more than 0.8% each to 19,122.15 and 64,049.06 on Wednesday as foreigners offloaded shares worth a provisional ₹4,236.6 crore and continued selling by retail, offsetting the ₹3,569.36 crore worth of buying by domestic institutions.

Tech Mahindra, the last of the six large-cap companies in the domestic information technology (IT) services industry to announce earnings this quarter, posted a staggering 62% drop in net profit in the September quarter, rounding off what was one of the worst quarters for this industry in the past five years, barring the covid-disrupted period. Its revenues for the period were at $1.55 billion, down 2.8% sequentially in constant currency terms, while net profit fell 29.3% sequentially, and a whopping 62.5% from a year earlier to $59.5 million. Tech Mahindra’s operating margin fell 2.1 percentage points sequentially to 4.7%, one of its lowest in recent memory.

Vijay-starrer Leo crossed the ₹250 crore-mark on October 25, which is the seventh day of the film's release. Till the sixth day of its release, the film had made ₹248 crore in the domestic market.

World Cup history, beating Netherlands by 309 runs at Arun Jaitley Stadium on Wednesday. The Aussie side looked in supreme touch as they torched Nethreland with both bat and ball. The winning margin of 309 runs is the largest ever at a Men's Cricket World Cup and the second largest ever in ODIs.

Adrian MacKenzie and Srdjan Dangubic at Five V Capital are donning the hard hat to raise $700 million for their fifth buyout fund, two years after they drummed up $500 million-plus for its predecessor.

Vodafone Idea has partnered with the state-backed Centre for Development of Telematics (C-DOT) to offer a laboratory to promote standardization and interoperability in the IoT ecosystem. The lab will offer device testing and certification as per oneM2M standards and 3GPP standards for interoperability, which has been adopted as national standard for IoT solution design by the Bureau of Indian Standards (BIS). The lab is an initiative of Vi Business, the enterprise arm of Vodafone Idea, and is equipped to test more than 175 scenarios including network and functional testing, field testing, application testing, compatibility testing, oneM2M standard testing and more.

₹8,416 crore to these instruments as of 30 September. InvITs were launched in 2017 but remain somewhat unfamiliar to many investors. These innovative financial instruments are designed to raise capital by issuing units to investors, which are then channelled into infrastructure assets.

₹1 crore was booked and allotted in 2008-09, and payment for the property was made in instalments of ₹20 lakh each year, over the period of five years from 2008-09 to 2012-13, in which year the property was built and transferred. If the property is being sold in the current year, the entire cost of acquisition of ₹1 crore should be indexed from 2008-09 till 2023-24.

Bank of India reported last week. China has seen an even steeper fall as the country turns inward. In a recent blog co-authored by Gill and M.

RBL Bank are the two stocks that are a part of the F&O ban list by the stock exchange for October 26. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

The Bank of Canada held the overnight interest rate at five per cent on Oct. 25, continuing its policy of quantitative tightening while recognizing that global bond yields are also working to tamp down demand.

Montreal will ban gas-powered systems in new construction starting next fall, with some notable exceptions.

The Bank of Canada held its benchmark interest rate at five per cent on Oct. 25, its second consecutive pause, meeting economist expectations amid a slowdown in the economy.

India and Japan on a Semiconductor Supply Chain Partnership, an official statement said on Wednesday. The memorandum of cooperation between the two countries was signed in July.

World Series will begin Friday at Globe Life Stadium in Arlington, Texas. The annual championship of Major League Baseball in the US and Canada. The winner of this tournament is determined through a best-of-seven playoff. The winning team gets the Commissioner's Trophy.

Taylor Swift has teased her fans with lyrics from a Vault track ahead of her rendition of 1989. The singer took to Instagram to share a notepad with previously unseen lyrics, as well as a caption counting down the days until the album's re-release.

artificial intelligence in a meeting late on Tuesday, as they inched closer to a broader agreement on the landmark AI Act, according to five people familiar with the matter. After two years of negotiations, the bill was approved by the European parliament in May. The draft AI rules now need to be agreed through meetings between the parliament and EU states to thrash out the final versions of laws in a process known as the trilogue.