In order to ensure that index funds and exchange-traded funds (ETFs) closely mirror their benchmark indices, the Securities and Exchange Board of India (SEBI) has proposed a minor adjustment. The proposal aims to eliminate the restriction that limits these funds to invest up to 25 percent of their net assets in group companies or sponsors. […]
In January, India experienced a surge in its crude oil imports, reaching a monthly record. This increase was primarily due to the Red Sea shipping crisis, which caused delays in the arrival of cargoes from the Americas in December. Data sourced from trade outlets revealed that India, as the world’s third-largest oil importer and consumer, […]
According to the sources, the Union coal ministry has directed the Indian Railways to operate 600-650 freight trains daily from May to August to transport coal to power plants, anticipating an increase in electricity demand during the summer months. A senior official from the railway ministry stated that the coal ministry has requested the Indian […]
The Juniper Hotels IPO concluded with a subscription of 2.08 times on the final bidding day, February 23, as investors purchased 6.01 crore equity shares against the offer size of 2.89 crore equity shares. Qualified institutional investors (QIIs) led the participation, oversubscribing their quota by 2.96 times, while retail investors subscribed to 1.28 times their […]
To assist Go First Airlines in overcoming its financial difficulties, SpiceJet’s Chairman and Managing Director Ajay Singh, along with Busy Bee Airways, largely owned by EaseMyTrip CEO Nishant Pitti, have revealed a rescue plan involving a total investment of Rs 1,600 crore into the struggling airline. As per sources reported by CNBC-TV18, the consortium has […]
Kotak Mahindra Bank announced on February 23 that Zurich Insurance Company Ltd will purchase a 70 percent stake in Kotak General for Rs 5,560 crore in a single tranche. Initially, in November 2023, Zurich Insurance had proposed to acquire a 51 percent stake in Kotak Mahindra General Insurance Company, followed by an additional 19 percent […]
IndiaGrid, an infrastructure investment trust, announced on Friday the completion of the acquisition of a 300 MW solar project valued at Rs 1,550 crore. This addition brings IndiaGrid’s portfolio to a total of 19 solar projects across eight states in India, with a combined generation capacity of 1.1 GWp. The statement from IndiaGrid highlighted that […]
Smaller steelmakers in India are advocating for a halt in iron ore exports, following a surge in sales to Chinese mills that has led to increased local prices. Last year, Indian exports rose by 170% to 44 million tons, primarily directed to China, coinciding with a rise in domestic demand for the raw material. This […]
Market sources indicate that the Indian Railway Finance Corporation (IRFC) is set to issue bonds totaling up to Rs 3,000 crore on February 26. The bonds comprise a base issue of Rs 500 crore, accompanied by a greenshoe option of Rs 2,500 crore, and have a maturity period of 10 years, concluding on February 28, […]
Jio Financial Services Ltd achieved a milestone as its market capitalization crossed Rs 2 lakh crore for the first time, driven by a remarkable 35 percent surge in its share price since the beginning of the year. Its parent company, Reliance Industries, also reached a record high on February 23. By 10:30 am, shares of […]