Category: Business

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Finance Ministry confident of 6.5% growth in FY24 despite symmetric risks

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Finance Ministry exuded confidence that the country will achieve 6.5% growth in FY24 on the back of improved corporate profitability, private capital formation and bank credit growth, notwithstanding the risks of rising crude oil prices and monsoon deficit. The Finance Ministry on September 22 exuded confidence that the country will achieve 6.5% growth in FY24…

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Micron plant groundbreaking on September 23: MoS Chandrasekhar

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Rajeev Chandrasekhar, Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology. File photo. | Photo Credit: The Hindu The $2.75 billion semiconductor plant in Gujarat by the US-headquartered Micron Technology, Inc. will have its groundbreaking on Saturday, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar told reporters on Friday….

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JPMorgan To Include India In Its Emerging Market Debt Index: What It Means

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India will have a maximum weight of 10 per cent on the index. Global investment bank JPMorgan Chase and Co. on Thursday announced that it would be adding India to its emerging market debt index with effect from June 28, 2024. While the much-anticipated decision is widely seen as a big positive for the Indian…

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SEBI levies ₹55 lakh fine on 11 entities for non-genuine trades

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The logo of the Securities and Exchange Board of India is pictured on the premises of its headquarters in Mumbai, India. | Photo Credit: Reuters Securities and Exchange Board of India (SEBI) has levied penalties totalling ₹55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the Bombay Stock…

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Inter-ministerial discussion under way to ease FDI norms in space sector: Official

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After the touchdown by ISRO’s Chandrayaan-3 spacecraft near the moon’s South pole, three G-20 countries have expressed interest in possible collaborations or partnerships with India in the space sector. | Photo Credit: PTI An inter-ministerial discussion is going on to further liberalise foreign direct investment norms in the space sector to attract overseas players and…

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India To Be Part Of JPMorgan’s Emerging Markets Index. Here’s What It Means

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Currently, 23 Indian Government Bonds are index eligible, JPMorgan said. Mumbai: JPMorgan will include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) from June 2024, the Wall Street bank said on Friday. The inclusion, a first for the country, could lead to billions of dollars of inflows into local currency-denominated government debt and…

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HDFC AMC allowed to acquire aggregate holding of upto 9.5% each in 5 banks

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HDFC Bank has informed the stock exchanges that its subsidiary HDFC Asset Management Company Ltd has received approvals from the Reserve Bank of India (RBI) via different letters dated September 20, 2023, to acquire “aggregate holding” of up to 9.5% of the paid-up share capital or voting rights in each of the banks namely DCB…

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Markets give up early gains; trade lower

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Representational image only. | Photo Credit: Reuters Equity benchmark indices rebounded in early trade on September 22 after a three-day decline but later gave up initial gains to quote in the negative territory. The 30-share BSE Sensex climbed 187.71 points to 66,417.95 in early trade. The Nifty advanced 49.8 points to 19,792.15. But, later both…

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Rupee rises 38 paise to 82.75 against U.S. dollar in early trade

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Image used for representational purpose only. | Photo Credit: Reuters The rupee appreciated by 38 paise to 82.75 against the U.S. dollar in early trade on September 22, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government…

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JPMorgan To Add India To Its Emerging-Markets Bond Index

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Foreign investors have bought $3.5 billion worth of Indian government debt this year. JPMorgan Chase & Co. will add Indian government bonds to its benchmark emerging-market index, a keenly awaited event that could drive billions of foreign inflows to the nation’s debt market. The decision is the latest sign of India’s growing appeal to international…

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