Cabinet approves Rs 10,683 Cr PLI scheme for textiles

New Delhi (IANS) The Union Cabinet on Wednesday approved the much-anticipated production linked incentive (PLI) scheme for the textiles sector.

Under the scheme incentives worth Rs 10,683 crore will be provided over five years.

According…

Sensex pares losses to hit new high; HDFC, RIL shares rise

Mumbai (IANS) The key Indian equity indices pared their losses to touch new all-time high levels on Tuesday afternoon.

BSE Sensex hit a record high of 58,553.07 points, and the Nifty50 on the National Stock Exchange recorded a fresh high of…

CBDT allows taxpayers another opportunity to file application for tax settlement

New Delhi (IANS) In order to provide relief to the taxpayers, the Central Board of Direct Taxes (CBDT) has permitted filing of tax settlement applications for period upto January 31, by September 30.

It has been decided that such application…

SII paid Rs 3,000 cr for 50% stake in SCHOTT Kaisha

New Delhi (IANS) The Serum Institute of India (SII) paid Rs 3,000 crore for a 50 per cent stake in the Indian joint venture SCHOTT Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry.

IANS has learnt that of the Rs 3,000 crore,…

India's July-Sep GDP growth seen at 7-8%

Mumbai (IANS) The growth rate of India's GDP for the July-September quarter is likely to remain in the range of 7-8 per cent.

In the first quarter of financial year 2021-22, India's GDP witnessed a growth of 20.1 per cent compared to…

FPIs make net investment of over Rs 16,500 cr in August

New Delhi (IANS) Foreign portfolio investors (FPI) remained net buyers in August with total net investment of Rs 16,556 crore as per the NSDL data.

The net investment in the equities segment stood at Rs 2,083 crore, while that in the debt segment…

High coking coal prices to impact gross margins of steel mills, says Ind-Ra

New Delhi (IANS) High coking coal prices are likely to impact gross margins of steel mills, says India Ratings and Research (Ind-Ra).

Accordingly, coking coal prices were up 5 per cent MoM and 103 per cent YoY to $222 per MT in mid-August 2021.

Changing Dynamics: Smaller fund houses outpace major players in 2021

Mumbai (IANS) The mutual fund space has grown over the pandemic and interestingly so far in 2021, several smaller companies have gained momentum and outpaced the growth of established major players.

In tandem with the rise in the equity market,…

SDRs boost India's forex reserves by over $16 bn

Mumbai (IANS) An exponential rise in India's Special Drawing Rights allocation aided in the accural of over $16.663 billion into India's foreign exchange reserves during the week ended August 27.

In financial parlance, SDRs are international…

Sensex touches 58,000 for first time in history

Mumbai (IANS) The BSE Sensex crossed the 58,000 mark for the first time in its history on Friday.

It has hit a record high of 58,115.69 points.

Rise in the global markets lifted the Indian indices, analysts said.

Healthy buying…