MUMBAI: Sebi has threatened two Mauritus-based funds with investments in the Adani Group that they could face penalties and cancellation of licences for not sharing shareholding details despite repeated requests over two years, according to a document reviewed by Reuters.The Adani Group and its 13 offshore investors have been facing an investigation by the Sebi,…
MUMBAI: State Bank of India has cut fixed deposit rates by 20 basis points across all tenors for both the general public and senior citizens from May 16. The move follows a 25 bps repo rate cut by RBI in April and comes ahead of another expected cut in June.RBI also infused nearly Rs 5…
The Directorate General of Foreign Trade (DGFT), under the commerce ministry, on Monday notified changes to align India’s import policy schedule with modifications made in the Customs Tariff through Budget 2025, particularly in the segment of precious metals. The move aims to ensure consistency between customs duty structures and regulatory frameworks for imports, PTI news…
The Centre has released draft rules proposing the delicensing of the lower segment of the 6 GHz band for unlicensed indoor use. The move, which applies to the 5925–6425 MHz frequency band, is aimed at enabling next-generation Wi-Fi technologies and supporting data-heavy applications.According to the draft, no authorisation or frequency assignment will be required for…
NEW DELHI: Apple’s key supplier Foxconn has invested $1.48 billion (approximately Rs 12,800 crore) in its India operations over the past five days, the company disclosed in a regulatory filing.The investment was made into Yuzhan Technology (India) Private Limited, Foxconn’s Tamil Nadu-based unit, via its Singapore arm, Foxconn Singapore Pte Ltd. Under the transaction, the…
Kotak Mahindra Mutual Fund on Monday bought a 6.6 per cent stake in pharmaceutical companyAmi Organics for nearly Rs 301 crore through open market transactions. According to the block deal data available on the National Stock Exchange (NSE), Kotak Mahindra Mutual Fund (Kotak MF) purchased 26.97 lakh shares or 6.59 per cent stake in two…
Realty major DLF Ltd‘s consolidated net profit rose 39 per cent year-on-year to Rs 1,282 crore for the January-March quarter of FY25, supported by higher revenue and robust demand for premium homes.For the full fiscal year 2024-25, the company reported record sales bookings of Rs 21,223 crore, up 44 per cent from Rs 14,778 crore…
BENGALURU: Electric vehicle (EV) sales surged globally to over 17 million units in 2024, but India’s adoption continues to lag behind peer economies despite modest gains, the International Energy Agency’s (IEA) Global EV Outlook 2025 showed.India’s EV penetration reached around 2% of total car sales last year, with nearly 100,000 electric cars sold. In contrast,…
NEW DELHI: Instant beverage makerRasna announced on Monday its acquisition of the Jumpin brand from Hershey’s India, marking its entry into the ready-to-drink market. While the financial details of the deal remain undisclosed, independent valuations place the brand’s worth at Rs 350 crore.According to Rasna Chairman Piruz Khambatta, the company has acquired only the brand…
US stock marketstoday: US stock markets opened sharply lower on Monday after Moody’s downgraded the country’s sovereign credit rating, citing concerns over escalating federal debt and long-term fiscal slippage.The downgrade rattled investor confidence, triggering broad-based selling across equities and lifting market volatility.At the opening bell, the Dow Jones Industrial Average dropped 288.77 points or 0.68…
