Progressive Financial News

free trade agreement (FTA) between India and Oman are moving at a fast pace and the pact is likely to be signed next month, a senior government official said. Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat. «With Oman, there is a very good progress and both sides are very eager to conclude this deal.

Sunil Subramaniam, MD and CEO of Sundaram Mutual Fund underscores the growing might of domestic investors. He highlights that retail investor behaviour during periods of volatility will be a challenge that could crop up in 2024 and needs to be appropriately addressed. In an interview with Mint, Subramaniam shared his views on the domestic market, economy and the upcoming Budget. Edited excerpts: The year has been a great one for the markets as domestic flows, especially the SIP (systematic investment plans) book, have been strong and giving buying support whenever FPIs (foreign portfolio investors) flows have slackened.

Gujarat lifts liquor ban in GIFT city: Netizens say ‘don't have to go to…' Besides, the seminar aims to facilitate an exchange of ideas among major stakeholders, shaping the trajectory of Gujarat's progress for the years to come. Further, the official said that the the session will foster collaborative deliberations across various themes and chapters, engaging global industry stakeholders, experts, and influential players.

In a remarkable surge, Bitcoin has reached $43,499, marking a 0.71 percent increase on Tuesday. This notable ascent can be largely attributed to the burgeoning interest in Spot Bitcoin ETFs, which are poised to surpass the combined inflows of all 150 crypto ETPs currently in the market.

By Rae Wee

Investing.com-- Most Asian currencies moved in a tight range on Tuesday, while the dollar hovered near five-month lows as soft U.S. inflation data spurred increasing bets on interest rate cuts from the Federal Reserve in 2024. 

stock market. Global incidents, such as the dot-com bubble, 9/11, the US subprime crisis, COVID-19, recent US economic challenges and geopolitical tensions like the Russia-Ukraine conflict and the Israel-Gaza crisis have all significantly impacted the Indian stock market. Let’s explore the relationship between these two economic powerhouses, and understand how the US market’s ebbs and flows can dictate the tempo of the Indian stock market.

Godrej Consumer Products with a target price of Rs 1210.0. The current market price of Godrej Consumer Products is Rs 1089.1. Godrej Consumer Products, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 111439.76 Crore) operating in FMCG sector.

Vasu Naren, Chairman & Managing Director, Sona Machinery Limited, says SMEs have fared quite well with their IPOs due to the interest of investors to opt for emerging and non-conventional businesses that are backed by strong fundamentals and established track record of consistent financial performance. “They are perceived as having a lower risk on investments with a better performance, while giving good pricing and quality of offerings. Another crucial and deciding factor for SMEs is their proven business model, which is bundled with a clear understanding of their markets and customers, and a demonstrated ability to generate revenue with sustainable operations in the longer run,” he says. Sona Machinery Limited, a Ghaziabad-based agro-processing original equipment manufacturer, recently announced the filing of its draft red herring prospectus (DRHP) with NSE Emerge, the SME platform of the National Stock Exchange (NSE).

12th Fail, actor Vikrant Massey's latest film, has garnered attention beyond the Box Office. It was sent as an independent nomination to the Oscars 2024. The Bollywood movie about UPSC aspirants was not a part of the Oscars shortlist.

Investing.com-- Asian stocks moved in a flat-to-low range in holiday-thinned trade on Tuesday as soft U.S. inflation data fueled bets that the Federal Reserve will cut interest rates in 2024, although uncertainty over the timing of the move remained.

The yen meanwhile steadied near its recent five-month peak on the prospect that the Bank of Japan (BOJ) could soon mark an end to its ultra-easy policy. For most of 2022 and 2023, the policy has kept the Japanese currency under pressure as other major central banks globally embarked on aggressive rate-hike cycles. Currency moves were largely muted in the day after Christmas, with markets in Australia, New Zealand and Hong Kong still out for the Boxing Day public holiday. Against the greenback, the euro slipped 0.06% to $1.1019, but was not too far from a more than four-month top of $1.1040 hit last week. Sterling was little changed at $1.2701, while the Australian and New Zealand dollars were huddled near their recent five-month peaks. The dollar index languished near a five-month low of 101.42 hit last week, and was last at 101.65. Data released on Friday showed U.S.

The road projects are Baleshwar-Kharagpur Expressway (BKEL), Jharkhand Infrastructure Implementation Company (JIICL) and Jharkhand Road Projects Implementation Company (JRPICL). With this sale, the board is looking to address a combined debt of ₹3,500 crore across these projects. The IL&FS board has in several court documents cited delays in approvals from lenders, slow progress and viability concerns for BKEL. For the other two projects, failure to receive annuities and approval for transfer to InvIT from the government of Jharkhand led to the move. The board, in its latest update to the National Company Law Appellate Tribunal (NCLAT), had cited considerable delays in approvals from lenders, including State Bank of India, slow progress and resultant setback on project viability in the case of BKEL as the reason why «transfer of the asset to the InvIT may not be possible, and alternate resolution plan would have to be formulated», said an IL&FS spokesperson. In the case of JIICL and JRPICL, the board has cited failure to receive annuities and approval for transfer to InvIT from the government of Jharkhand. BKEL is engaged in operating and managing about 477 lane km of Baleshwar-Kharagpur national highway in Odisha and West Bengal under a concession from the National Highways Authority of India on a toll basis. JIICL is engaged in operating and managing approximately 160 lane km of Section VII Ranchi Ring Road in Jharkhand while JRPICL is engaged in operating and managing about 664 lane km of roads developed under the Jharkhand Accelerated Road Development Programme.

Sakshi Malik, hung up her boots last week in disgust. This unfortunate development doesn't augur well for Indian women when the feted among them are denied justice and even made to grovel for it. Malik and several top Indian wrestlers, including Vinesh Phogat and Bajrang Punia, began their protests in January over the lack of action against the then-head of the Wrestling Federation of India (WFI), Brij Bhushan Sharan Singh, whom they accused of sexual harassment of female wrestlers. For several months, nothing happened.

RV stocks have been struggling to regain traction following the social-distancing craze that drove them to record highs. The problems were rising prices and an inventory glut compounded by high interest rates.

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farmers are cultivating climate resilient wheat varieties which has been sown in more than 60 per cent of the planted area of 30.86 million hectares so far, according to agriculture commissioner P K Singh. Wheat is the main rabi (winter) crop, sowing of which normally begins in November and harvesting is done from March-April. As per the agriculture ministry data, wheat sown area stood at 30.86 million hectares till December 22 of the ongoing rabi season, slightly lower than 31.44 million hectares in the year-ago period.

By Ivana Sekularac

find solace in the mountains found themselves in the middle of chaos as they waited for hours in long traffic jams across the popular tourist destinations in Himachal Pradesh. The government is expecting more than one lakh tourists around Christmas and New Year, and the administration has made special arrangements for the same. The people commuting on the Mumbai-Pune Expressway faced the same ordeal as the roads remained packed with travelers out to celebrate the three-day Christmas weekend.

Fed hiked interest rates by 5.5% — this, with “quantitative tightening program” of reduction in balance sheet, resulted in multi-decade high interest rates in the US and around the world. As a result, the foreign portfolio investor (FPI) flows turned negative on emerging markets like India, leading to significant outflows and putting downward pressure on Indian equities at the start of the year. The year started with the persistence of inflation at elevated levels across economies, continuing geo-political uncertainties and tightening financial conditions.

Adani Green Energy Ltd. has executed a power purchase agreement with Solar Energy Corporation of India to supply 1,799 MW of solar power, the company said in an exchange filing on Monday. With this, Adani Green has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender it was awarded in June 2020. «AGEL has progressed on the commitments of the SECI manufacturing-linked solar PV tender, including setting up 2 GW of PV cell and module manufacturing facilities,» the company said adding that AGEL has already commissioned a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL). The plant is located at Mundra, Gujarat.