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11.10 / 18:43
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NPS scheme for NRIs: How can non-resident Indians contribute, and invest in National Pension System
NPS scheme for NRIs: Non-resident Indians (NRIs) aged 18 to 60 can invest in India's National Pension Scheme (NPS) by adhering to KYC norms. The NRIs can make contributions to NPS from their NRO/NRE account. NPS offers diversification across financial securities and asset classes (Equity, Corporate Bonds, Government Securities). NRIs can choose their investment mix based on risk appetite. There are two fund management schemes: Active Choice and Auto Choice, catering to individual preferences.
11.10 / 18:31
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Pro Kabaddi aims rise in sponsorship, revenue this season
₹5 crore. Higher bid prices in the auction reflects surging interest in the game, as teams show their financial prowess.
11.10 / 18:31
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Urban Co forays into consumer appliances
₹637 crore, while losses narrowed from ₹514 crore to ₹308 crore. Urban Company’s India business broke even in the first quarter of FY24, it said. “We made meaningful progress in improving profitability driven by operational leverage in fixed costs and driving efficiency across other costs," the company said in a post on its website in August.
11.10 / 17:40
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Adani refinances $3.7 bn loan in Ambuja, ACC deal
₹2,500 crore for Adani’s cement firms every year. “The tenure of the refinance will be 36 months," said the first person. Alongside, Ambuja Cements and ACC together generate around $1 billion in cash every year.
11.10 / 17:40
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Norway’s Orkla recasts India business for bigger play in spice market
₹2,200 crore, in terms of size. We’ve been working on transformation and integration of Eastern into our business," he said.
11.10 / 17:40
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Grasim board to consider fund-raise
New Delhi: Aditya Birla Group’s flagship, Grasim Industries Ltd, announced that it will be holding a board meeting on Monday to consider a proposal to raise funds. “A meeting of the Board of Directors of Grasim Industries Limited is scheduled to be held on Monday, 16 October 2023," it said in an exchange filing on Wednesday. “To consider the proposal for raising of the fund by way of equity shares or other securities through a rights issue, qualified institutions placement, preferential issue or any other method as may be permitted under the applicable law, subject to such regulatory/statutory approvals as may be required." This comes at a time when the Kumar Mangalam Birla-led textile manufacturer is set to launch its paint vertical, with a project cost of ₹10,000 crore before the end of the current financial year.
11.10 / 17:40
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Sidharth Rath resigns as SBM India head before term ends
₹2,046.2 crore. Deposits crossed ₹7,000 crore, while its loan book was at ₹4,835.93 crore.
11.10 / 17:40
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Apple crop: HP taps central govt scheme
MANALI, NEW DELHI : Himachal Pradesh wants the Centre to implement the market intervention scheme (MIS) for procuring ‘C’ grade apple crops hit by rain and floods, a central government official said. Apple, the state’s dominant fruit crop, is cultivated from low-lying (300 feet) to hilly (10,000) areas including the cold deserts of Kinnaur and Lahual-Spiti.
11.10 / 17:17
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Go long, really long
₹26.78 billion and the latter at ₹20 billion, according to data released by the Association of Mutual Funds in India. These figures look robust despite a 37% and 20% decline, respectively. In contrast, large cap funds saw net outflows of ₹1.11 billion.
11.10 / 17:17
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FIIs sell lower on easing US bond yields; DIIs counterbalance sell-off as Nifty sits 2.5% away from all-time high
₹1,032 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹12,526.94 crore of Indian equities, while they sold ₹12,948.71 crore --- resulting in an outflow of ₹421.77 crore on Wednesday.
11.10 / 17:17
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Global economy getting weaker, India, US among bright spots, says World Bank chief economist
Moneycontrol reported Gill as saying. The good news, however, “basically ends there", he quipped.
11.10 / 17:17
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Go First airline gets expression of interest from Jindal Power: Report
MUMBAI : Indian insolvent airline Go First has received an expression of interest from Jindal Power Ltd, two banking sources and two people aware of the development told Reuters. An expression of interest is the first step in the bidding process and may not result in a financial bid.
11.10 / 17:17
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Indian investors see brighter side
₹18,893 crore in September after six straight months of inflows, showed NSDL data. Till now, in October, they remain sellers. The ‘higher interest rates for a longer period’ narrative amid the US Federal Reserve’s hawkish stance could accelerate outflows from emerging markets including India.
11.10 / 17:17
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Brent slips to $85/bbl even after Saudi's pledge to stabilise markets; investors wary of Israel-Hamas conflict
₹7,030 per bbl, having swung between ₹6,932 and ₹7,208 per bbl during the session so far, against a previous close of ₹7,161 per barrel. THIS COPY IS BEING UPDATED "Exciting news! Mint is now on WhatsApp Channels
11.10 / 17:17
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What the Israel-Hamas war portends for India’s defence sector
₹15,920 crore, up by 24% versus the previous year. To be sure, countries such as the US, Russia, and France would capitalize on this sort of an opportunity the most and are likely to increase their share of defence exports compared to India, said Amit Anwani, an analyst at Prabhudas Lilladher. This is because India still accounts for a negligible portion of the world’s defence exports.
11.10 / 17:17
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Gift City: Best option for succession planning, international family office?
Rohit Jain is managing Partner and Roopal Bajaj is leader- funds, Singhania & Co. "Exciting news! Mint is now on WhatsApp Channels
11.10 / 16:03
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'The blood you shed': Israel buries fallen soldiers
military cemetery of Jerusalem, mourners streamed in for the funerals of young Israeli soldiers, with only the stifled cries of anguish piercing the steely silence. Mount Herzl cemetery, named after the founder of political Zionism, has in the past few years seen more remembrance ceremonies than funerals. But mounds of ochre earth now mark freshly dug graves as Israel buries its soldiers fallen in the battle against Hamas militants whose shock assault unleashed Saturday has claimed 1,200 lives in the country. Most of the victims are civilians, but at least 169 Israeli troops have been killed in the battles to repel Hamas fighters. Eleven of them were laid to rest at the cemetery in the night to Wednesday. A few steps from the tomb of former prime minister Yitzhak Rabin, the brothers in arms of 20-year-old Noam Elimelekh Rottenberg lowered the coffin draped with Israel's blue-and-white flag into the grave. «Noam, this war will be the last.
11.10 / 15:51
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Govt to soon announce financial outlay to boost sustainable mining: Pralhad Joshi
Click here! While ensuring just transition in the coal sector, aspirations of grass root level people have to be addressed adequately, he said. Joshi said state-owned Coal India Ltd and its arms are focused on pursuing clean coal technologies.
11.10 / 15:51
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Dunzo exits continue amid rejig: After co-founder, now head of finance leaves cash-strapped startup
Moneycontrol. The logistics and delivery firm has so far not announced a replacement for Sudarshan N or commented on his exit. Meanwhile reports indicate that another co-founder Mukund Jha is also set to leave the company in the coming days.
11.10 / 15:51
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RBI permits SBI Mutual Fund to acquire 9.99% paid-up share capital in IndusInd Bank
IndusInd Bank informed the stock exchanges. This acquisition will allow the company to also hold 9.99 percent voting rights in the bank.
11.10 / 15:51
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Global oil market sensitive to Israel-Hamas war; Russia ready to boost supplies to Saudi Arabia: Novak
Also Read: Oil snaps Israel-Hamas conflict-induced rally, slides over $1 on demand concerns; Brent eases to $86/bbl Novak said he and Prince Abdulaziz discussed the oil market and cooperation within the Organisation of Petroleum Exporting Countries and its allies (OPEC+). "Of course, (cooperation within OPEC+) was (considered) at our internal meeting, one of the most important topics that we discussed today," Novak said, according to Interfax news agency.
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