Traders body raises sugar output estimate to 32 mt
The All India Sugar Traders Association has raised its sugar production estimated this season (October-September) by 0.4 million tonnes (mt) to 32 mt. It will still be lower than the 32.9 mt produced last season. Higher output in Maharashtra and Karnataka is likely to aid in raising the production figures, though Uttar Production will likely […]
FPI holdings hit decadal low despite $25 billion injection in FY23-24
Foreign portfolio investors (FPIs) reduced their holdings in Indian equities to a decade low of 16.2 per cent of overall market capitalisation, The drop in FPI holdings in percentage terms may be attributed to selling in some sectors, partly due to underperformance in financials, where FPIs have a substantial exposure, said experts. Foreign portfolio investors have injected […]
Nifty Realty index rises over 132% in FY24 on demand for housing, office
The Nifty Realty index has been one of the best performing benchmarks in FY24, rising 2.3 times or delivering absolute returns of over 132 per cent in the fiscal year, as demand for housing continued through the year and the office sector also showed decent absorption. The rally in the real estate stocks has also […]
RBI’s forex reserves build-up leads to a huge $64.182 billion accretion in FY24 so far
India’s foreign exchange (Fx) reserves have soared in FY24 so far after declining in FY23, reflecting the Reserve Bank of India’s strategy to build them up for a rainy day. By shoring up the reserves, the central bank is trying to insulate the country from external shocks arising from volatile energy prices and supply chain […]
India Inc mop-up via IPO rises 19% to ₹61,000 crore in FY24
The funds mobilised by India Inc through the IPO route in this financial year was up 19 per cent to ₹61,000 crore compared to ₹52,116 crore raised in FY23. Also read:Why India Inc is slow to adopt AI tech However, excluding the mega LIC IPO of ₹21,000 crore in May 2022, the mop-up increased to […]
Force Motors exiting tractor business to focus on core segments
Force Motors Ltd board has decided to exit the tractor business, consisting of manufacturing and dealing in agricultural tractors, from the product portfolio of the company with effect from March 31, 2024. The company, under its product rationalisation programme, has decided to focus on its core segments such as shared mobility transportation, last mile mobility, […]
Gold imports likely to drop 87% this month on high prices, weak demand
India’s gold imports are set to fall to the lowest in the last three years in view of soaring prices and sharp fall in demand. The bullion industry has been reeling under huge inventory as it imported huge quantity of gold in anticipation of higher demand. The industry had imported 110 tonnes of gold in […]
Sensex, Nifty set for weak opening amid mixed global cues
The domestic stock market is likely to open on a negative note on Thursday amid mixed global cues. Gift Nifty at 22,220, compared to Nifty April futures value of 22,331, indicates a gap-down opening. Most equities across the Asia-Pacific region are down in early deals despite the US stocks ending in the green overnight. Analysts […]
PN Gadgil Jewellers files papers to raise ₹1,100 cr via IPO
PN Gadgil Jewellers, a leading player in Maharashtra, has filed Draft Red Herring Prospectus with market regulator SEBI to raise ₹1,100 crore. The public offer consists of fresh equity issuance of up to ₹850 crore and an offer for sale of ₹250 crore by promoter-owned SVG Business Trust. The funds raised through the IPO are […]
CPAI seeks clarification on RBI circular on currency futures
The Commodity Participants Association of India has sought clarification from the banking regulator RBI whether clients with only underlying exposure will be allowed to trade in currency futures trading from April 5 and if so all the open positions need to be squared off before the deadline. In January, RBI had issued a circular stating […]