Category: Business & Economics

Election Excitement Fuels Investor Confidence Both the Sensex and Nifty hitting record highs Foreign Investors Shift Stance Banking Stocks Lead the Charge Crude Prices and Market Resilience In defiance of subdued global cues, India’s stock market surged to new peaks on Monday, with both the Sensex and Nifty hitting record highs. The Sensex soared to 75,679.67 levels, while the Nifty reached a milestone of 23,043.2. Even as global markets treaded cautiously, Indian equities showcased resilience, driven by several factors propelling investor optimism. Investor sentiment remains buoyant, especially with the looming…

The central board of the RBI has approved a historic surplus transfer of Rs 2.11 trillion to the government for 2023-24, significantly exceeding expectations and demonstrating the central bank’s robust financial position. This surplus, allocated despite increasing the contingent buffer to 6.5%, offers an unexpected fiscal boon, potentially reshaping the government’s fiscal outlook for the upcoming year. The bumper Rs 2.11 trillion dividend transfer by the Reserve Bank of India (RBI) to the Centre is expected to give the next government fiscal cushion and greater elbow room for expenditure management,…

Adani Enterprises shares briefly traded at pre-Hindenburg report levels. Adani Enterprises’ stocks have emerged from the shadows, painting a picture of resilience and redemption. That’s partially due to investments from Abu Dhabi-based International Holding opens new tab and U.S. boutique investment firm GQG Partners, which helped Adani shore up confidence. Adani Group’s flagship company rallied sharply in the past few trading sessions. Adani Enterprises’ resilience shines through, underscored by its inclusion in India’s benchmark Nifty 50 index, symbolizing a partial restoration of market confidence in the conglomerate’s enduring spirit. Amidst…

Indian benchmark indices Sensex and Nifty scaled fresh all-time highs on Friday after a lacklustre start. Nifty topped the 23,000 mark while Sensex also made a new high today. The bulls defied weak global market cues to trade on a firm note. Tata Steel, Larsen & Toubro and SBI were the top movers among the Sensex 30 stocks, while Mahindra & Mahindra and Sun Pharma were the chief laggards. In the broader market, the BSE MidCap and SmallCap indices also held gains, up 0.1 per cent and 0.3 per cent,…

Adani Group’s market capitalization soared past the USD 200 billion mark, Renewed Investor Confidence Rapid Growth Trajectory, However, allegations of fraud surfaced when the London-based Financial Times published a story based on George Soros-backed Organization’s report. Strong Rebuttal from Adani Group: “Baseless Allegations” Despite the controversy, Adani Group stocks remained unaffected, indicating market resilience. Market experts highlighted the strengthened fundamentals of Adani Group companies compared to previous years. Adani Group’s market capitalization soared past the USD 200 billion mark (approximately Rs 16.9 lakh crore) on Wednesday, witnessing a notable increase…

EPFO’s provisional payroll data released on 20th May, 2024 highlights that EPFO has added 14.41 lakh net members in the month of March, 2024. The data indicates that around 7.47 lakh new members have been enrolled during March, 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.83% of the total new members added in March 2024 indicating the majority of individuals joining the organized workforce are youth, primarily first-time job seekers. The payroll data highlights that approximately 11.80 lakh members exited and subsequently rejoined EPFO.…

The SBI, India’s largest public-sector lender, plays a pivotal role in the sale and redemption of electoral bonds through adherence to standard operating procedures (SOPs). However, the contents of these procedures remain shrouded in secrecy, sparking concerns about transparency and accountability in the electoral financing process. Transparency activist Anjali Bhardwaj’s quest to access the SOPs via the Right to Information (RTI) Act encountered roadblocks as the SBI denied her request, citing reasons of “commercial confidence”. The controversy surrounding electoral bonds intensified following a landmark verdict, where the court declared the…

The CBI has apprehended former DHFL Director Dheeraj Wadhawan in connection with a staggering ₹34,000 crore bank fraud. The agency alleges that the Wadhawan brothers, in collusion with others, misrepresented facts, abused public funds, and orchestrated a complex scheme to siphon off billions of rupees from DHFL’s coffers. Dheeraj Wadhawan’s detention comes as a continuation of the CBI’s relentless pursuit of justice in this complex and far-reaching financial scandal. Despite the initial reprieve, the Supreme Court intervened, overturning the bail orders and emphasizing the gravity of the allegations against the…

External Affairs Minister S Jaishankar staunchly defended India’s commitment to the Chabahar Port agreement with Iran. The Chabahar Port, located near Iran’s border with Pakistan, has been a cornerstone of India’s foreign policy since 2016 when India entered into an agreement with Iran to develop and operate the port. The US reiterated its stance on enforcing sanctions against Iran during a press briefing. Jaishankar remained steadfast in his conviction that the Chabahar Port agreement serves the interests of not only India but the entire region. Jaishankar’s remarks underscored India’s commitment…

Providing financial incentives, such as tax breaks, and subsidies, for companies that invest in sustainable technologies and practices can help accelerate the adoption of green manufacturing practices, experts say. They also said there is an increasing emphasis by businesses to ensure sustainable practices through their supply chains. “This requires companies to improve their sustainability operation through responsible procurement, investment, energy transition, recycling, financing etc,” Hi-Tech Gears Chairman Deep Kapuria said.  He also said that today, sustainability is at the core of business strategy for corporates across all sizes and sectors.…