Adani Group plans to trim its capital spending plans amid Hindenburg row: Report

The Adani Group, after pulling its ₹20,000 crore equity fundraising plan last week due to a stock rout set off by Hindenburg Research’s fraud allegations against the conglomerate, is planning to trim its capital spending plans, Mint reported on Monday citing people close to the development, While providing more collateral in the form of stock …

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Explained: Why use of scrap in steel production is vital to mitigate pollution

Union Steel Minister Jyotiraditya Scindia said on Saturday that his department will encourage primary steel makers to use 50% of their input from recycled or scrap steel by 2047 in order to reduce CO2 emissions and move toward a green economy that will protect Mother Earth. How polluting is crude steel production? With a production …

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India’s focus should not be on trade deficit, but… :NITI Aayog’s VC on China

NITI Aayog vice chairman Suman Bery on Sunday said that India’s focus should not be on overall trade deficit with China, instead it should be on reducing New Delhi’s dependence on Beijing for certain critical inputs. ALSO READ: Non-BJP states seek Niti Aayog-like body for revamping planning boards According to Bery, the right response is …

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Adani issue a company specific matter, says finance minister: Report

Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue. She said banks and insurance companies are “not overexposed” to any one company and assured that …

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New PF withdrawal rule: Check this in FY24 while filing Income Tax Return

Union finance minister Nirmala Sitharaman proposed to reduce Tax Deduction at Source (TDS) from 30% to 20% for the taxable part of the Employees’ Provident Fund (EPF) Scheme for non-PAN cases in Budget 2023-24. According to the Income Tax rule, if money is withdrawn from the EPF account before the completion of five years of …

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World Gold Council says India ‘Strong pillar of support’ for gold market

India, the world’s second-largest consumer of gold jewellery, has experienced rapid change over the last few years due to evolving demographics witnessing growing demand for lightweight and studded jewellery, reported Asian Lite International citing World Gold Council. “India is a strong pillar of support for the global gold markets as the second-largest consumer of gold …

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Finance Secretary defends higher investment limit in saving schemes, says…

The decision to raise the investment ceilings in small savings schemes is aimed at benefiting senior citizens and the middle class who park funds in safe government deposit schemes offering higher returns than banks, Finance Secretary TV Somanathan has said. The Budget 2023-24 raised the maximum deposit limit for Senior Citizen Savings Scheme from ₹15 …

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Nine of 10 top firms add ₹1.88 lakh cr in market valuation; ITC biggest gainer

Nine of the 10 most valued firms together added ₹1.88 lakh crore in market valuation last week, with ITC emerging as the biggest gainer. The 30-share BSE benchmark Sensex jumped 1,510.98 points or 2.54 per cent last week. Barring Reliance Industries Limited, rest nine firms including Tata Consultancy Services (TCS), HDFC Bank, Infosys and ICICI …

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On Adani row, SEBI says it’s committed to ensuring market integrity

The Securities and Exchange Board of India on Saturday said it is committed to ensuring market integrity and structural strength, referring to the controversy surrounding the Hindenburg report on Adani Group. After the fallout of the report, the Adani Group’s shares have been on a free fall as the seven listed firms have lost more …

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