MUMBAI: Another large-size IPO is being planned in the current year. Prudential Corp of UK, the joint venture partner of ICICI Bank in ICICI Prudential Asset Management, is selling 10% stake in the company through an initial public offering that could be worth around Rs 10,000 crore. On Tuesday, the AMC had filed the papers…
Piyush Goyal (File photo) New Delhi: Commerce and industry minister Piyush Goyal said on Wednesday that free trade agreements (FTAs) will help domestic farmers with greater market access in. Australia, UAE, UK and EFTA countries.“We have reduced non-trade barriers for our farmers…We are doing FTAs with developed markets…Australia, UAE, EFTA, UK…through these agreements, we have…
Image used for representative purposes NEW DELHI: Manipal Hospitals announced on Wednesday that it signed definitive agreements to acquire Sahyadri Hospitals from Ontario Teachers’ Pension Plan (Ontario Teachers’), a global investor. The acquisition will bring Ranjan-Pai backed Manipal’s total bed count to about 12,000, making it one of India’s largest hospital networks, says a company…
US President Donald Trump announced on Wednesday his intention to implement a 50% tariff on Brazilian imports, partially responding to what he terms a “witch hunt” against his political ally, former Brazil President Jair Bolsonaro, who faces coup-related charges.Trump’s letter addressed to President Luiz Inácio Lula da Silva stated the tariffs would commence August 1….
Nirmala Sitharaman (File photo) NEW DELHI: Easing of financing conditions is expected to help improve credit prospects for the NBFC sector, according to finance minister Nirmala Sitharaman. Recent regulatory measures, such as the restoration of risk weights on bank lending and easing of financial conditions, are anticipated to further enhance credit prospects, thereby strengthening the…
MUMBAI: In a move reminiscent of Hindenburg going short on Adani Group, US-based financial researcher Viceroy Research said Wednesday it was “shorting” the debt stack of metal tycoon Anil Agarwal-controlled Vedanta Resources, the UK-based parent of Mumbai-listed miner Vedanta, as it believes the entire group structure is ‘financially unsustainable’, operationally compromised, ‘a house of cards’,…
MUMBAI: After a few months of flat growth in inflows by retail investors through SIPs in mutual fund schemes, the northward movement is back. In June, gross inflows through SIPs in MFs – an investment segment within the MF industry that is dominated almost entirely by retail investors – touched a new all-time peak at…
A sharp rise in US-bound shipments of antimony from Thailand and Mexico has reportedly emerged since China imposed export curbs last year, highlighting how global supply chains are being re-routed to work around geopolitical restrictions.According to customs and shipping data reviewed by Reuters, more than 3,800 metric tons of antimony oxides were imported into the…
The Defence Research and Development Organisation (DRDO) has signed over 2,000 technology transfer agreements and issued more than 200 production licences so far in 2024, significantly advancing India’s push for self-reliance in defence manufacturing, a senior official said on Wednesday.“Over 2,000 agreements were signed for technology transfer licences,” said Dr Chandrika Kaushik, Director General (PC&SI),…
The Department of Posts has rolled out Aadhaar-based biometric e-KYC services for Recurring Deposit (RD) and Public Provident Fund (PPF) schemes, further widening the scope of paperless account operations across its small savings portfolio. This marks a major expansion of the facility, which was previously available only for select schemes like the Monthly Income Scheme…