Business

12

Oct

By The Press Editor

Business

From Jio Platforms to Zetwerk, a dozen companies set to launch IPOs in October – Check full details

October will be an eventful month for stock market investors, as nearly a dozen companies, including Jio Platforms, Zetwerk, Fusion CX, and HD Fire Protect, are preparing to launch their initial public offerings (IPOs). These companies operate in sectors including technology, defence, healthcare, renewable energy, and manufacturing. Some companies will raise money by issuing new shares, while others will raise it by existing investors selling their stakes. As a result, investors will closely monitor these issues. Jio Platforms IPO Date The initial public offering (IPO) of Jio Platforms, the digital and telecom arm of Reliance Industries, is scheduled to open…

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09

Oct

By The Press Editor

Business

Will recent RBI repo rate hike by 25 bps impact festive buying momentum? Here’s what experts say

The festive season is likely to remain a key driver of residential sales even after the Reserve Bank of India raised the repo rate by 25 basis points to 5.50 per cent, with developers expecting buyers to stay active across key housing segments. The timing of the rate move is significant as developers enter one of the year's busiest periods for housing demand and sales. The increase follows a period of easing rates and comes amid renewed global uncertainty, crude-price volatility and concerns over inflation. Yet the domestic economy continues to show strength, with real GDP growth at 7.8 per…

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09

Oct

By The Press Editor

Business

Stock markets rebound strongly, Sensex rallies 879 points, Nifty ends above 22,500

Benchmark indices Sensex and Nifty rebounded strongly to close significantly higher, supported by value buying and short covering after the recent sharp correction. The 30-share BSE Sensex closed 879.09 points or 1.23 per cent higher at 72,472.33. During the day, the benchmark hit a high of 72,669.20 and a low of 71,739.49, gyrating 929.71 points. Similarly, the 50-share NSE Nifty gained 288.65 points or 1.30 per cent to close at 22,520.45. Similarly, the broader market ended the session in green. The BSE MidCap Select Index jumped 272.60 points, or 1.59 per cent, while the BSE SmallCap Select Index added 49.71…

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09

Oct

By The Press Editor

Business

Higher repo rate, higher FD rates: Is this the return of fixed-income investing? Find out

The Reserve Bank of India (RBI) increased the repo rate by 25 basis points from 5.25 per cent to 5.50 per cent. Generally, an increase in repo rates raises the cost of borrowing, though it may also create investment opportunities for people seeking fixed-income options, including fixed deposits (FDs) and other forms of borrowing, such as bonds. A Higher Repo Rate Changes the Investor Equation  The Reserve Bank repo rate forms the basis for how much banks pay to borrow money from the Reserve Bank of India. A higher repo rate means banks pay more to the Reserve Bank, which…

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09

Oct

By The Press Editor

Business

Jyotiraditya Scindia rejects Elon Musk’s claims, says India doesn’t allow monopoly

Union Communications Minister Jyotiraditya Scindia on Friday rejected claims by US business tycoon Elon Musk that "certain oligarchs" have blocked the company's satellite communication services in India to maintain their market monopoly, saying India does not allow a monopoly in any sector. Scindia said that there was no question of allowing any monopoly in the sphere and that three parties are in line for final approval for a commercial license. "Let me be very clear. India does not allow a monopoly in any sector.  And therefore, even as Satcom is concerned there is not a single licensee that has been…

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09

Oct

By The Press Editor

Business

Will MDR on UPI be postponed to January 1? Paytm, One Mobikwik, shares rebound amid uncertainty

Shares of Paytm, One Mobikwik Systems and other fintech firms rebounded on Friday, a day after they ended lower amid reports that a proposal to defer the rollout of merchant discount rate (MDR) on UPI to January 1, from October 15, is under consideration. Shares of One 97 Communications, which owns the Paytm brand, opened in the red at Rs 1,639.80 against the previous close of Rs 1,640 but rebounded to touch an intraday high of Rs 1,682, a gain of Rs 42 or 2.56 per cent. Last seen, the stock was trading at Rs 1650.20 with a gain of Rs…

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09

Oct

By The Press Editor

Business

TCS share price gains 6% post comment on US green card programme action, Q2 earnings

Shares of Tata Consultancy Services (TCS) surged over 6 per cent on Friday after the company reported a 15 per cent jump in net profit and said it does not expect the US action on the green card programme to affect its workforce strategy or customer engagements. India's largest IT services company cited its single-digit applications under the programme over the past two years and its focus on local hiring. The stock opened in the green at Rs 2,088.85, up Rs 13.6 from the previous close of Rs 2,075.25 on the BSE. Amid a volume surge of more than 2.16 times,…

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09

Oct

By The Press Editor

Business

Jewellery stock to be in focus on update regarding bank debt, closed 5.78% higher in last trading session

Shares of Delhi-based PC Jeweller Ltd are likely to be on investors' radar after the company shared updates on its bank debt resolution. The stock has already been in action after the company announced 28 per cent revenue growth in the second quarter of FY27. The stock has gained over the last two days and has risen 7.5 per cent in the period. The counter closed at Rs 13.91, up 5.78 per cent in the last trading session. The market cap of the company stood at Rs 13,549.85 crore. The stock opened at Rs 13.46, and during the day it…

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08

Oct

By The Press Editor

Business

Air India, AI Express hike fuel surcharges from October 9: What travellers need to know

New Delhi: Air travel is set to become more expensive as Air India and Air India Express have announced an increase in fuel surcharges on domestic and international flights from October 9. The move comes amid a sharp rise and continued volatility in Aviation Turbine Fuel (ATF) prices, which has put additional pressure on airline operating costs. The latest revision means passengers booking flights with the two Tata Group airlines will have to pay higher fuel-related charges, with the exact increase depending on the distance for domestic journeys and the destination for international services. Air India said the aviation fuel…

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08

Oct

By The Press Editor

Business

GST Council scraps arrest power of tax officers, raises prosecution threshold to Rs 5 crore from 1 crore

New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday said the GST Council has scrapped the arrest power of tax officers and raised the prosecution threshold to Rs 5 crore from Rs 1 crore. She said the GST Council also approved easier norms for small sellers on e-commerce platform. "The rate structure is settled, so the Council has turned to how the tax works day to day," she said, adding that GST rate changes will now happen once a year. On input tax credit claims, she said the 57th GST Council decided to set up a Committee of Officers to…

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