Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green a day after the significant market crash. While BSE Sensex was above 76,600, Nifty50 was near 23,200.
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Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.
Sebi is introducing mutual fund schemes combined with term life insurance to cater to rural investors and enhance SIP value. A consultation paper will be issued to finalize the combo product. Additionally, 'Pay Right' will ensure secure and verified UPI transactions to counter digital fraud.
Groww, the Bengaluru-based discount stock brokerage, is planning an IPO within the next 12 months, seeking a valuation of $6-8 billion. The company aims to raise $600-800 million through the offering. This move comes as regulatory changes affect the derivatives trading space, impacting revenues of brokers like Groww and its competitor, Zerodha.
The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank's net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined.
Interest rates for various small savings schemes remain unchanged from January 1 to March 31, 2025. Rates include Sukanya Samriddhi Scheme at 8.2%, PPF at 7.1%, and NSC at 7.7%. This is the fourth consecutive quarter without changes, confirmed by the finance ministry, helping maintain stability for investors.
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green a day after the significant market crash. While BSE Sensex was above 76,600, Nifty50 was near 23,200.
China's foreign minister Wang Yi criticizes the US for imposing arbitrary tariffs despite China's efforts to curb fentanyl exports. He warns that such actions disrupt global stability and mutual trust. Wang emphasizes China's strong ties with Russia and calls for greater representation of developing nations in global governance, highlighting China's role as a stabilizing force.
The Union Cabinet has greenlit an Rs 11,440 crore revival package for Rashtriya Ispat Nigam (RINL), addressing its debt issues. The package includes equity infusion and loan conversion to preference shares. This move aims to stabilize production, protect jobs, and ensure operational efficiency at the Visakhapatnam Steel Plant.
Spending on online gaming in smaller Indian towns has surged 16 times from 2019 to 2024, highlighting increased digital consumption. Card spending has risen 175% in non-metro areas, driven by rising affluence. The Indian video gaming market is projected to reach $1.4 billion by 2028.