Neelkanth Realtors, a Mumbai-based real estate developer, files draft papers with Sebi for an IPO to raise funds through the issuance of 1.35 crore equity shares. The proceeds will be used for project development, debt repayment, and general corporate purposes. The shares will be listed on BSE and NSE.
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Bharti Airtel is in discussions with the Tata Group to potentially acquire its DTH business, Tata Play, aiming to merge it with Airtel's Bharti Telemedia. This comes years after Airtel's acquisition of Tata Group's consumer mobile business. As of Q3 2024, Tata Play held a 32% share in the DTH market, ahead of Bharti Telemedia's 29.4%.
India maintains fiscal discipline despite challenges, with 2024-25 fiscal deficit target at 4.8% of GDP and a plan to reduce it to below 4.5% by 2025-26. The government aims to achieve a debt-to-GDP ratio of 50% by 2031 with focus on balancing development with fiscal prudence, resilient policies, and necessary fiscal buffers.
Wall Street concluded lower on Tuesday due to continued uncertainty over US President Donald Trump’s tariff policies. Market swings were driven by these uncertainties, with the Dow Jones, S&P 500, and Nasdaq Composite all seeing declines. Despite the downturn, major tech stocks like Tesla and Nvidia showed some resilience. Investors remain concerned about potential economic slowdown and market correction.
Deciding between renting and buying a home is complex. Renting offers flexibility and potential tax advantages under the old tax regime but lacks the long-term benefits of ownership. Buying provides substantial tax benefits and asset creation but comes with high upfront costs, long-term financial commitments, and market risks.
Punjab & Sind Bank and IDBI Bank are offering special fixed deposit (FD) schemes with higher interest rates until December 31, 2024. IDBI's Utsav FD offers rates up to 7.85% for senior citizens. Punjab & Sind Bank provides rates up to 8.10% for super senior citizens on select FDs with varying tenures.
ICICI Bank reported a 15% rise in standalone net profit to Rs 11,792 crore for Q3 of FY2024, compared to Rs 10,272 crore in the same period last year. Total income rose to Rs 48,368 crore, with improved asset quality as gross NPAs dropped to 1.96%.
Budget 2025 income tax expectations: The introduction of pre-filled Income Tax Returns (ITRs) has proven to be a significant advancement in streamlining the tax filing process. However, there is a strong need for further enhancement in data extraction.
Industry leaders predict India's economic growth to rise to 6-7.9% for FY 2025-26, driven by technological advancements and business reforms. Key budget priorities include reducing GST on health insurance, expanding financial inclusion, and providing tax incentives for R&D and fintech innovation.
Foreign funds have withdrawn over Rs 1 lakh crore from the Indian stock market in 2025, impacting investor sentiment and causing the rupee to weaken. This outflow, combined with a strong dollar and rising US bond yields, has led to an ongoing market decline and increased volatility.
Airtel and Reliance Jio have announced deals to market Elon Musk's Starlink satellite internet in India, pending regulatory approvals. These partnerships aim to enhance network coverage, especially in rural and remote areas where connectivity is limited. Satellite internet services will, however, be more expensive and initially cater to enterprise sectors.