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Piyush Goyal on Friday said he has invited the steel industry to discuss about the «unfair» competition that some of them are facing to take appropriate steps with a view to promote the sector's growth. Certain steel industry players have raised concerns over rising imports from China at lower rates. «I have invited the steel industry...to understand the unfair competition that some of them are facing and take appropriate measures so that the steel industry remains vibrant, continues to grow and adds jobs to the Indian economy,» Goyal told reporters here. On September 5, he mooted the idea of introducing a border adjustment tax to protect the domestic players by providing a level-playing field against increasing imports.

shares slipped for a fifth straight session on Friday as caution prevailed ahead of the crucial U.S. jobs data, the last such labour market report before the Federal Reserve's monetary policy decision on Sept. 18. The pan-European STOXX 600 index fell 0.4% by 0711 GMT. The index has dropped 3% so far this week, set to snap its four-week winning streak.

Markets Today asked our Instagram followers what they wanted to know. The questions ranged from how to gauge the outlook for the economy and currencies, to trends in stock trading and how to approach a company earnings report. Here — in a lightly edited transcript — are our answers. What are the risks of a recession? As luck would have it, Bloomberg tracks the aggregate view of economists on this very question, so we can see what the current view is, and how that has changed over time.

tax burden on health and life insurance policies. However, the proposal to lower GST on insurance premiums is meeting resistance from several states, which fear a significant loss of revenue, particularly from medical insurance, ToI reported. Also Read: Indians may need to get over a tax headache to secure their health

capital gains in the total personal income of individual investors is expected to jump to 12-15% in FY24, according to Jefferies estimates. The brokerage has premised its findings on a four-to-five-fold increase in the number of individuals reporting short- and long-term capital gains in the period between FY19 and FY23. Jefferies’ head of India research Mahesh Nandurkar, in the latest Greed & Fear report, puts forth his analysis on the personal income tax data, highlighting the jump in capital gains from 4% in FY19 to 11% in FY22 while pegging the the capital gains share at 12-15% in FY24E.

The ratings agency said on Wednesday (5 September) that Jupiter's IDR would be demoted to BBB- from a BBB, which it said reflected a trend of net outflows registered over the past give years, included in the first half of this year.  Jupiter reported total outflows of £3.4bn in the first half of 2024,  which led to a 2% drop in assets under management to £51.3bn at the end of the period, down from £52.2bn at the end of 2023. «While net outflows were partly related to certain one-off factors, Fitch views that Jupiter's still comparatively concentrated franchise and business profile hav...

income tax return (ITR) and verified it also, it may not be sufficient to ensure that you get your tax refund on time as it may depend on many other factors. Before the tax department issues a refund, certain checks and balances must be met. One such measure is the 'Risk Management System (RMS),' which the tax department employs to identify ITRs that may warrant further scrutiny. If your ITR has been identified by the tax department's RMS, then an intimation will be sent to your email address. You can also view this intimation on the e-filing portal (steps to view are given below). Once the tax department's RMS has identified your submitted and verified ITR, it will not be processed until you fix the issue. In the worst-case scenario, if you decide not to take any action, then the tax department can issue you an income tax notice.

SHANGHAI — China's policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People's Bank of China, said Friday at the Bund Summit in Shanghai.

Shaktikanta Das has emphasized the importance of addressing the 'last mile' in disinflation, a critical step in reducing inflation further. Speaking at a conference organized by FICCI and IBA, Das noted that while progress has been made, the central bank must successfully navigate this final stretch to uphold the credibility of India's monetary policy framework. Das's comments are interpreted as a signal that the RBI might maintain its current interest rates longer than anticipated before considering a shift in its monetary policy stance. In earlier remarks, he had highlighted the challenges of managing inflation, particularly due to persistent food price hikes. He likened inflation to an «elephant in the room,» explaining that although the elephant had left for a walk, the RBI's goal was to ensure it returned to the forest permanently. Also Read: Lower Q1 GDP numbers a blip, no letup in growth, says RBI Governor Shaktikanta Das

Bharat Forge Ltd. traded 2.5 per cent lower in Friday's session at 01:34PM (IST). The stock opened at Rs 1611.3 and has touched an intraday high and low of Rs 1611.3 and Rs 1561.35, respectively, during the session so far. The stock quoted a 52-week high of Rs 1826.2 and a 52-week low of 1002.7. About 73,864 shares changed hands on the counter so far.

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The Indian stock markets felt a jolt after the US markets fell overnight due to recession concerns. The Asian indices were also trading lower, following the overnight fall of US markets. Wall Street fell as investors are concerned over the US economy’s outlook ahead of Friday’s labor report. 

Tata Power Company Ltd. rose 0.65 per cent to Rs 417.7 in Friday's trade. It hit an intraday high of Rs 421.25 and low of Rs 414.65, respectively, during the day. The stock quoted a 52-week high price of Rs 470.85 and low of Rs 230.75.

Shriram Finance Ltd. fell 0.19 per cent to Rs 3238.6 in Friday's session as of 11:16AM (IST) even as the equity benchmark Sensex traded 938.71 points lower at 81262.45. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 3294.45 and a 52-week low of Rs 1760.9 on NSE. Around 2005 shares changed hands on the counter till 11:16AM (IST).

Friday’s monthly jobs report will likely mark a pivotal moment for the economy and the Federal Reserve

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Brigade Enterprises has raised Rs 1,500 crore by selling equity shares to institutional investors as part of its strategy to expand business. The company on September 2 launched its qualified institutional placement (QIP) issue to raise funds. The issue closed on September 5. In a regulatory filing on Friday, Brigade Enterprises said a committee of directors approved the allotment of 1,30,43,478 equity shares to eligible qualified institutional buyers.

financial services sector, with banks playing a pivotal role, a report released by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association has said. The report titled “Banking for a Viksit Bharat” says that since India, is a predominantly bank-led economy, it will require the banking sector to play an anchor role while the other financial asset classes continue to grow much faster. This will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, the report said. India's banking system is in a strong position today – characterized by high profitability, robust capital adequacy, and low levels of non-performing assets (NPAs).

Qualcomm has explored the possibility of acquiring portions of Intel's design business to boost the company's product portfolio, according to two sources familiar with the matter. The mobile chipmaker has examined acquiring different pieces of Intel, which is struggling to generate cash and looking to shed business units and sell off other assets, the people said. Intel's client PC design business is of significant interest to Qualcomm executives, one of the sources said, but they are looking at all of the company's design units.

Asian shares are trading mixed ahead of a highly anticipated U.S. jobs report that’s expected to influence how the U.S. Federal Reserve will move on interest rates