Economic & Finance News

RBI to adopt graded approach to introduce digital currency

The RBI said that it has been exploring the pros and cons of the introduction of CBDC in India and the appropriate design elements of CBDCs that could be implemented… [...]

RBI's balance sheet increased by 8.46 pc in FY22 to Rs 61.9 lakh crore

While income for the year increased by 20.14 per cent, expenditure rose by 280.13 per cent, RBI said in its annual report 2021-22 released on Friday. The year 2021-22 ended… [...]

Karnataka attracted investment commitment of Rs 65,000 crore at WEF meet: Basavaraj Bommai

Karnataka is at the forefront in attracting investments and the WEF Meet has proved to be a "success", he said, as he asserted that the State has "not lost or… [...]

RBI raises its gold purchase to 65 tonnes in FY22

In the nine-month period between June 2020 and March 2021, RBI had bought 33.9 tonnes of gold. The value of RBI's gold holdings rose as much as 30% to Rs… [...]

Government relaxes norms for ministries in bid to push public expenditure

Unspent balances from QEP-2 and QEP-3 may be utilised in QEP-3 and QEP-4 respectively only after formal and prior approval of the Expenditure Secretary has been obtained, the Budget Division… [...]

Manufacturing investments rose in FY20 as rent, profits, interest paid fell

ASI, the principal source of industrial statistics in India, is the most comprehensive data on organised manufacturing. It covers all factories employing 10 or more workers using power and those… [...]

WEF meet: "Very fruitful" for Karnataka, MoUs for Rs 52,000 cr investments signed

The state government has succeeded in wooing the investors in a big way under the leadership of Bommai with able cooperation from Industries Minister Murugesh Nirani and IT, BT Minister… [...]

India considering spending additional $26 billion to fight inflation: Sources

India's retail inflation rose to an eight-year high in April, while wholesale inflation rose to at least a 17-year high, posing a major headache for Prime Minister Narendra Modi's government… [...]

India mulls $13 billion extra borrowing to offset fuel-tax cut

Higher collections from GST as well as personal income taxes will be neutralized by additional spending on food and fertilizer subsidies that the government is giving to the poor and… [...]

RBI govt transfer falls sharply to Rs 30,307 crore, may impact budget math

The transfer amount was finalised at the central bank board meeting which approved the annual report for last fiscal, RBI said in a release. [...]

FDI inflow hits all-time high of USD 83.57 billion in 2021-22

"India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector," the ministry said. "India has recorded highest ever annual FDI inflow of USD 83.57 billion… [...]

Foreign investors from Mauritius likely to keep taxman at bay

One such attempt by the Income tax (I-T) department to lift the 'corporate veil' was struck down this week by a court which ruled that the tricky subject of 'beneficial… [...]

GAAR probe begins on companies suspected of tax avoidance

The company has now approached the high court for state of Telangana at Hyderabad challenging the applicability of the section for some transactions undertaken by it in 2018 and 2019.… [...]

Centre won't trim its Capex plan despite inflation running hot

In a surprise move, the Reserve Bank of India (RBI) had earlier this month raised the repo rate by 0.4 percentage point to 4.4% to tame runaway inflation that hit… [...]

India remains attractive for FDI investors

Over two-fifth of the 1,200 global business leaders surveyed in the US, UK, Japan and Singapore plan to make additional or first-time investments in India, consulting firm Deloitte had said… [...]

Market News

Inox Wind Q4 Results: Loss widens to Rs 256 crore

Total income in the quarter dropped to Rs 183.92 crore from Rs 295.46 crore in the year-ago period.or the full fiscal 2021-22, the company reported a consolidated net loss of… [...]

Inexpensive or not, valuations ideal for building long-term portfolio

Considering the global macros, a strong positive catalyst may be needed to put a pause to this correction phase. Although current valuations do provide a good point to start building… [...]

Burton Malkiel's rules to pick quality stocks & avoid irrational decisions

Malkiel is the Chemical Bank Chairman’s Professor of Economics, Emeritus, and Senior Economist at Princeton University. He is also Wealthfront's Chief Investment Officer.He is the author of the widely appreciated… [...]

M&M Q4 Results: Profit rises 17% YoY to Rs 1,167 cr; company announces Rs 11.55 per share dividend

Margin for the quarter came in at 11.4 per cent against 14.7 per cent in the year-ago quarter and against ET NOW poll estimate of 11.7 per cent. [...]

Sensex up but these BSE500 stocks fall up to 23% this week

Pain in the broader market was visible clearly in the advance-decline ratio of the BSE500 index where 341 of the 501 index stocks settled lower for the week. At least… [...]

I know exactly where Wall Street is heading (Just kidding)

But stocks rose 6.6% this week, the first weekly gain in two months. It is certainly conceivable, although I think unlikely, that the worst of the damage is over and… [...]

Glenmark Q4 Results: Net dips 26% to Rs 173 cr

Consolidated revenues of the drug firm, however, rose to Rs 3,019 crore in the quarter under review as compared to Rs 2,860 crore in the year-ago period, recording an increase… [...]

Wall Street rallies, snaps longest weekly losing streak in decades

The market has now discounted a lot of the negative news, a lot (of which) hit all at once," said Keith Buchanan, portfolio manager at GLOBALT in Atlanta. "Now we… [...]

Wall St Week Ahead: Stock rally fanned by hopes of Fed 'past peak hawkishness'

Softer economic growth raises risks of weaker corporate profits, in theory paving the way for softer share prices. Several Wall Street banks have in recent weeks warned that the chances… [...]

M&M Q4 preview: Strong profit growth likely but margin may fall at least 200 bps

Emkay Global sees standalone profit for M&M rising 17.5 per cent YoY to Rs 1,178.10 crore from Rs 1,002 crore in the year-ago quarter. It sees sales rising 29.5 per… [...]

PolicyBazaar parent's losses narrow in Q4

Our focus continues towards increasing insurance coverage for families across India. We are seeing a steady shift in business mix towards smaller towns and cities; currently 59% of our insurance… [...]

Paradeep Phosphates lists at a premium

The issue was subscribed 1.75 times with the qualified institutional buyers' category getting subscribed 3 times and retail category subscribed 1.4 times. The non-institutional investors' portion was subscribed 0.8 times. [...]

Market Movers: Antony Waste spikes 20% on big order; PSP Projects sees buying post record Q4

Siemens AG, promoter of the company, intends to purchase the LDA Business of Siemens, India. This proposal is based on the plan to carve out Siemens LDA business globally into… [...]