Vishal Mega Mart is launching an Rs 8,000 crore IPO via offer for sale from December 11-13. Priced at Rs 74-78 per share, the IPO values the company at Rs 35,168 crore. A strong grey market premium of Rs 24 suggests a positive listing.
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Economic Survey highlights the positive impact of linking financially less privileged rural women to self help groups, welfare schemes, and direct benefit transfers. These initiatives have reduced inequality, increased consumption spending, and improved quality of life for rural households, as revealed by a survey conducted in Bihar, Jharkhand, Madhya Pradesh, and Uttar Pradesh.
Revenue secretary Sanjay Malhotra has been appointed as the new RBI governor, succeeding Shaktikanta Das. The 56-year-old IIT Kanpur and Princeton University alumnus will begin his three-year term on December 11th. Malhotra's appointment marks a continuation of bureaucratic leadership at the central bank, following Das's tenure of close coordination with the government.
India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10. Discussions on a bilateral trade agreement between the two nations continue, aiming for completion by fall.
Air India has made significant progress since its privatisation by the Tata Group, expanding its fleet to 300 aircraft and covering over 100 destinations. The airline is enhancing its services with new aircraft deliveries, major infrastructure projects, and the integration of Vistara and Air India Express to achieve world-class service quality.
​​Budget 2025 income tax expectations: The article examines the potential scrapping of the old income tax regime in the upcoming Budget 2025. It highlights the introduction and progression of the new tax regime since 2020, comparing the benefits and drawbacks for various taxpayer categories.
US President Donald Trump has announced sweeping new tariffs on all imports, starting with a universal 10% baseline and steeper rates of up to 50% for certain countries. The move, aimed at reducing trade deficits and boosting domestic industry, targets major trade partners including China, India, Japan, and the EU, and is expected to have significant economic implications.
Sebi has issued a cautionary letter to Nestle India over alleged insider trading violated by a high-ranking official. Nestle reassures that this incident will not hinder its financial and operational activities. Sebi's regulations aim to ensure fair market practices and protect common investors' interests.
The Reserve Bank of India is anticipated to cut the repo rate by 25 basis points in its first policy decision under Governor Sanjay Malhotra. Experts believe this move aims to boost economic growth while maintaining inflation control, amid eased inflationary pressures and a stable Consumer Price Index.
India's market regulator, Sebi, is planning a portal, MITRA, to help investors find lost mutual fund investments. Inactive accounts, often due to missing PAN or outdated contact information, will be searchable through a central database managed by CAMS and KFintech. This initiative aims to reduce unclaimed accounts and protect against fraud, improving transparency in the financial system.
US stocks climbed Wednesday, driven by tech gains ahead of Nvidia's crucial earnings report. Nvidia soared 4%, its performance seen as critical after concerns over AI infrastructure surfaced. The S&P rose 0.6%, the Nasdaq 100 added 1%, while the Dow Jones gained 0.1%.