The Bombay High Court stayed a special court order directing the registration of an FIR against ex-SEBI chairperson Madhabi Puri Buch and five officials for alleged stock market fraud and regulatory violations, noting the order was passed mechanically. The High Court has given four weeks to the complainant to file his affidavit in reply to the petitions.
Related news
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
A strong March rally is now uncertain as Foreign Institutional Investors sold off over Rs 10,255 crore in Indian stocks. As markets await US President Trump's tariff announcement, concerns about potential global risks loom. Experts suggest that while volatility may persist, long-term investors could cautiously start deploying capital, given India's robust economic fundamentals.
RBI supersedes Aviom India Housing Finance's board over governance concerns and payment defaults, following National Housing Bank's recommendation. Former Punjab National Bank GM Ram Kumar is appointed as administrator, and RBI will seek to appoint him as insolvency resolution professional via NCLT. Audits revealed fraudulent transactions and governance lapses, sparking RBI's intervention.
Firm said it achieved over $3.5 billion in annual productivity run-rate savings since 2022
Commerce and Industry Minister Piyush Goyal shared that a German chemical firm plans to invest USD 1.5 billion in India. A state has already identified land for the investment, aimed at boosting FDI. The government’s efforts to improve business conditions and resolve legal issues were highlighted as attracting global investments.
PB Fintech's Policybazaar is investing Rs 860 crore for a 25% stake in PB Healthcare to develop hospitals with a 1,000-bed capacity. These hospitals aim to offer zero rejection and cashless treatment. The initiative seeks to address the rising healthcare costs and will initially cover the NCR before expanding further.
Stock market recommendations: Vedanta and International Gemmological Institute have been identified as top stock picks by Bajaj Broking Research, with favorable entry points noted.
Despite reaching record highs in 2024, Sensex and Nifty are now about 10% off peak levels due to global and domestic factors. Advisers recommend a focus on large-cap, flexi-cap, and debt-oriented balanced advantage funds, while continuing SIPs to benefit from possible future rallies amid market volatility.
India's domestic aviation industry is set to incur a net loss of Rs 2,000 to Rs 3,000 crore in the coming fiscal years due to ongoing supply chain issues and engine problems. While passenger traffic saw growth, the pace is expected to slow in FY25. International passenger traffic is forecasted to increase by 15-20% in FY25.
Apple plans to invest $500 billion in the U.S. over the next four years. This investment will include constructing a large factory in Texas for AI servers and adding 20,000 research and development jobs. This move comes amid tariffs on products assembled in China, with the company securing waivers previously.