MUMBAI: On Tuesday, India slipped to the seventh spot in terms of stock market valuation as South Korea marched to sixth. In the last two years, India has slipped three places in the rankings after Hong Kong, Taiwan and South Korea overtook it, historical data showed.Nearly unabated foreign fund selling since Sept 2024 (when the…
MUMBAI: Billionaire banker-entrepreneur Uday Kotak on Tuesday prodded India Inc to invest for India’s future. Kotak’s warning came as the country is being looked at as a laggard in AI technology investments. This is the primary reason that India’s stock market has turned from being one of the most favoured among emerging markets to one…
MUMBAI: Godrej Industries Group has launched its wealth management business, Godrej Wealth, through subsidiary Godrej Investments, with a target to build assets under management of Rs 1,00,000 crore by 2031 and expand to 35 locations over the next five years.The business will operate alongside Godrej Capital to form the group’s financial services arm, as it…
MUMBAI: The Wealth Co, the assets management arm of domestic financial services group Pantomath, on Tuesday signed an agreement with NSE to offer Electronic Gold Receipts (EGR), a product that the bourse launched recently. EGRs are exchange-traded products backed by physical gold. Source link
MUMBAI/NEW DELHI: The West Asia war-induced challenging fund-raising market conditions notwithstanding, some of the leading unlisted companies are moving ahead with plans to go public.On Tuesday, Prism, the parent of hospitality firm Oyo, got Sebi nod for its IPO that could be worth up to Rs 6,650 crore. Earlier in the day, global beverage giant…
MUMBAI: Vis Raghavan, head of banking and executive vice chair of Citi, was in India for its annual India conference, which unites all businesses and 1,000 corporates. It is part of a global push to bring buy/sell side participants, policymakers, and decision-makers onto one platform. Raghavan is credited as a seasoned investment banker and dealmaker…
NEW DELHI: Nearly two decades after a working group was formed to compile producer price index (PPI), govt Tuesday finally laid out a road map for its introduction. On June 15, govt will unveil the revised wholesale price index, with 2022-23 base, and along with it will come PPI.In five years, govt intends to phase…
The Reserve Bank of India (RBI) on Tuesday announced a Rs 50,000 crore two-day Variable Rate Repo (VRR) auction, a move aimed at managing short-term liquidity conditions ahead of the central bank’s monetary policy review.The auction will be conducted on June 3 between 9:30 am and 10 am, while the reversal of funds will take…
TOI correspondent from Washington: US Secretary of State Marco Rubio has renewed pressure on New Delhi’s purchases of Russian oil, telling Congress on Tuesday that the Trump administration wants to end “as soon as possible” sanctions waivers and special arrangements that have allowed countries such as India to import Russian oilRubio’s remarks during a Senate…
India and the UK on Tuesday discussed the key issues delaying the implementation of the Comprehensive Economic and Trade Agreement (CETA), as both sides reviewed progress under the trade pact signed in July last year.The issues came up during a meeting between Commerce Secretary Rajesh Agarwal and UK Permanent Secretary Amanda Brooks.“Engaged in extensive discussions…