The RBI has announced the final redemption price for the Sovereign Gold Bond (SGB) 2016-17 Series IV at Rs 8,634 per gram. Issued in March 2017 at Rs 2,943 per gram, investors earned a 193% return over eight years, excluding interest. SGBs provide capital appreciation, tax exemptions, and periodic interest, making them an attractive investment option.
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Tesla is introducing advanced self-driving features in China after overcoming regulatory hurdles. The software update includes "automatic autopilot-assisted driving on city streets" and a rearview mirror function to monitor driver attention. This move follows Chinese automaker BYD's plans to offer similar technology, intensifying competition. Tesla's expansion comes as China heavily invests in self-driving innovations amidst strict data regulations.
India's Union Cabinet has approved the 'Protection and Enforcement of Interests in Aircraft Objects Bill, 2024 (Cape Town Convention Bill)', making it easier for aircraft and engine lessors to reclaim their assets from insolvent airlines. The move aims to lower leasing costs and end prolonged legal battles, addressing concerns highlighted by the GoAir incident.
Byju Raveendran, CEO of Byju’s, asserts that new evidence submitted in court reveals EY India’s significant role in collusion involving GLAS Trust during the company's insolvency proceedings. Raveendran insists the evidence will expose this 'massive fraud,' with a hearing scheduled at the National Company Law Appellate Tribunal on Tuesday.
IndusInd Bank shares dropped 27% to Rs 656, erasing Rs 19,000 crore in market value due to a Rs 2,100 crore derivatives accounting discrepancy. The bank's net worth decreased by 2.4%. Concerns about governance and risk management led to investor worry, affecting other small private banks like Bandhan Bank and RBL.
Dalal Street investors largely ignored the US's new tariff plans, with Sensex and Nifty closing slightly down. Despite the negative close of leading indices, midcap and smallcap stocks saw buying interest. The day's decline was triggered by negative global sentiment and President Trump's new tariff announcements on Indian imports.
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, crashed in trade on Monday morning. While BSE Sensex went below 76,600, Nifty50 was near 23,200.
Razorpay has extended Rs 1 lakh worth of ESOPs to each of its 3,000+ employees for the first time, reflecting its commitment to an employee-first ethos. Previously, Razorpay’s ESOP buybacks have benefited numerous employees, with the latest $75 million buyback in 2022 impacting 650 employees.
Waaree Renewable Technologies Ltd has secured a 2 GW solar project from Sunbreeze Renewables Nine Pvt Ltd, a Jindal Renewables SPV, to be implemented in Bikaner, Rajasthan. The project, valued at WRTL's largest-ever order, will enhance energy efficiency using advanced technologies. Jindal Renewables aims to be a leader in renewable energy, targeting 12 GW of assets by 2030.
Chinese stocks experienced their worst start to the year in nearly a decade due to weaker-than-expected manufacturing data and impending tariff hikes. The CSI 300 Index fell 2.9%, with the Hang Seng China Enterprises Index dropping 3.1%. Concerns over the economic recovery and lack of significant stimulus measures contributed to the market's fragile sentiment.
In 2024, funds raised for Indian startups fell to $2.7 billion, the lowest in four years. SoftBank and Tiger Global issued smaller follow-on checks and remained cautious. With global investors on the sidelines, local family offices and hedge funds led the investments. Analysts expect startup funding to pick up pace in the coming months.