Laxmi Dental Ltd's IPO got fully subscribed within minutes, ending the day at 5.28 times subscription with significant interest from retail and non-institutional investors. The IPO is a mix of fresh issues and OFS, with proceeds aimed at debt repayment and capital expenditure. Shares will be listed on BSE and NSE.
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A recent CII survey shows optimism in the Indian economy, with 75% of companies finding the environment favorable for private investments. 97% of firms plan to increase employment in FY25 and FY26, with anticipated wage growth and personal consumption boosts. India's 'Viksit Bharat' vision by 2047 depends on creating quality jobs.
Analysing Budget 2025 and how finance minister Nirmala Sitharaman's budget has had a fallout on markets; how can investors balance risks in evolving financial landscape
India's auto components industry saw robust growth in the first half of FY25, with an 11.3% increase in market size to $39.6 billion. Demand for larger vehicles, especially UVs, surged, alongside a rise in 350-500cc motorcycles. EV sales grew overall, but e-PVs declined. Exports performed strongly, with the USA, Germany, and Turkey as top destinations.
Adani Total Gas Limited (ATGL) posted a net profit of Rs 142.38 crore for Q4 2024, marking a 19.4% decline YoY. However, revenues from operations increased by 12.5% YoY. Despite reduced APM gas allocation, ATGL ensured uninterrupted CNG supply and focused on expanding its network, adding new CNG stations and connections, including the new Jalandhar GA.
Telecom operators Reliance Jio and Bharti Airtel have launched new voice and SMS-only plans for prepaid users in India following TRAI's revised tariff rules.
India's Finance Act of 2022 has introduced a 30% tax on income from cryptocurrencies, classified as virtual digital assets. Investors are required to pay 1% TDS on transactions exceeding certain limits and cannot offset cryptocurrency losses against other gains or carry them forward.
The Reserve Bank of India (RBI) may use the cash reserve ratio (CRR) for regulatory intervention instead of liquidity management. The report by SBI suggests the CRR should be a countercyclical liquidity buffer, and a revision of RBI’s liquidity strategy and policy rate framework is needed.
The commerce ministry in India is expected to seek an extension of the interest equalisation scheme for five more years in the upcoming Budget. This scheme assists exporters in obtaining competitive rupee export credits, particularly benefiting MSMEs during challenging economic times. Exporters and organizations like FIEO are supporting the extension, emphasizing its importance for maintaining competitiveness.
Coca-Cola has sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt Ltd (HCCBL), to Jubilant Bhartia Group. This strategic move aligns with Coca-Cola's global asset-light strategy.
With egg prices soaring due to avian flu, Jet-Puffed has introduced a budget-friendly alternative for Easter: marshmallow decorating kits. These kits, priced at $1.99, include marshmallows, dyes, and decorating tools, offering a festive and affordable way to celebrate the holiday. While egg prices remain high, this innovative solution caters to families seeking to maintain traditions without overspending.