CAPITAL REDUCTION PROPOSAL
Niva Bupa, Star Health shares jump up to 13% on likely GST reduction for health insurance premia
Health insurance stocks rallied on Tuesday, with shares rising as much as 13% on the BSE, following the Group of Ministers' (GoM) proposal for key GST rate rationalisation reforms for the sector. Niva Bupa Health Insurance surged 12.6%.
NCLT grants approval to Mahindra Homes¡¯ share capital reduction plan
Mahindra Homes, a joint venture between Mahindra Lifespace Developers and Actis, has received approval from the National Company Law Tribunal (NCLT) for its capital reduction proposal. The move, which involves canceling certain equity shares, will optimize capital allocation without impacting ongoing projects or homebuyer interests.
Reflections on a transformative year as Ficci president
The Federation of Indian Chambers of Commerce & Industry (FICCI) under the leadership of its outgoing president, collaborated with the Government of India on initiatives like 'Make in India', 'women-led development', 'farm prosperity', and 'sustainability' to achieve the 'Viksit Bharat' goal by 2027.
Tax reforms, simpler customs procedure top Budget wishlist
Indian industry bodies met with revenue secretary Sanjay Malhotra. They presented their tax proposals for the upcoming budget. The Federation of Indian Chambers of Commerce and Industry (FICCI) proposed comprehensive tax reforms. The Confederation of Indian Industries (CII) suggested simplifying the goods and services tax (GST) regime.
Investors cheer IPO announcement from Waaree Energies as GMP hints at multibagger gains
Waaree Energies IPO opens on October 21, priced at Rs 1427-1503. Grey market premium is around Rs 1350, indicating a potential multibagger listing. The company plans to use funds for a 6 GW manufacturing facility in Odisha and general corporate purposes.
Waaree Energies IPO to open from Oct 21-23. Check details
Waaree Energies' IPO, open from October 21 to 23, will include fresh shares worth Rs 3,600 crore and an offer for sale of up to 48 lakh shares. Funds will be used for a 6 GW facility in Odisha and corporate purposes. The price band remains undisclosed.
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Collapse of national security elites' cyber firm leaves bitter wake
IronNet's rise and fall also raises questions about the judgment of its well-credentialed leaders, a who's who of the national security establishment. National security experts, former employees and analysts told The Associated Press that the firm collapsed, in part, because it engaged in questionable business practices, produced subpar products and services, and entered into associations that could have left the firm vulnerable to meddling by the Kremlin.
CK Birla Healthcare eyes $150 million fundraise via stake sale
CK Birla Healthcare, part of the CK Birla Group, aims to raise around $150 million by selling a minority stake. Funds will be used for expansion and debt reduction. The healthcare arm, featuring multiple hospitals and IVF centers, recorded a 34% revenue growth in FY24.
S&P 500 ekes out record closing high; declines briefly after Powell
The S&P 500 reached a record high close, recovering after Fed Chair Powell indicated no rush for more rate cuts. The Dow also hit a peak as all major indexes posted monthly and quarterly gains. Investors' confidence in the Fed's outlook remains robust.
Fed¡¯s relaxed bank-capital plan faces bipartisan FDIC pushback
A proposal to revise US bank-capital regulations faces strong opposition from the FDIC, where at least three of five directors, including Democrat Rohit Chopra and two Republican members, are against the changes. This bipartisan pushback raises concerns about the timeline for aligning all three bank regulators, targeting completion by mid-2025.
EV charging faces deeper problems than we realise
The transition to electric vehicles faces challenges, especially in the realm of public charging infra.
US to propose Basel rule revisions this month: Report
The U.S. Federal Reserve and other regulators are preparing to announce significant changes to proposed bank capital rules, expected as soon as Sept. 19. The revisions, potentially spanning up to 450 pages, will address operational risk provisions and reduce capital requirements for certain business lines and market-risk requirements for major lenders. These changes follow the Basel III rules introduced after the 2007-2009 financial crisis. Regulators have been revising the plan to lessen its impact on larger banks.
Anti-rape bill: West Bengal Assembly passes Aparajita bill; Opposition extends full support
The West Bengal Assembly has unanimously passed the Aparajita Bill, a significant anti-rape legislation aimed at fast-tracking punishments for rape and crimes against women. Chief Minister Mamata Banerjee and TMC MP Abhishek Banerjee emphasized the need for swift justice, proposing death and life sentences for severe cases. The law seeks to close loopholes in existing legislation.
Sebi proposes comprehensive review of merchant banker regulations
Markets regulator Sebi has proposed a comprehensive review of merchant banker regulations to address changes in market dynamics. The review includes assessing the activities of bankers, updating capital adequacy requirements, and introducing a minimum liquid net worth.
India¡¯s polluting heavy industries need a tech, capital rethink
The union budget 2024 promises a road map that will help hard-to-abate industries to move to new clean technologies. Such a transition covering a wide range of sectors should go much beyond just financial support.
Debt-to-GDP ratio: States can take it easy
The government had no immediate plans to ask states to reduce their debt-to-GDP ratios, prioritizing control of fiscal deficits instead. The central government's debt was anticipated to decline, echoing signals for fiscal responsibility. The combined debt of central and state governments was also projected to decrease, aiming for fiscal stability.
Has government reduced SGB issuance this year? Know the loss on SGB maturity in FY25 due to custom duty reduction
Sovereign Gold Bonds: When the government announced a reduction of customs duty from 15% to 6% on Gold, the prices crashed by up to 9% in two days. A part of this fall in price is attributable to international price effect. However as a result of this, 2016-17 Series I SGB investors lost out a good earning opportunity. Read the story to know why.
Shares of Angel One, 5Paisa Capital, SMC Global, Motilal Oswal and other brokerages fall as Sebi proposes curbs on options
The Securities and Exchange Board of India (SEBI) on Tuesday evening proposed raising the minimum trading amount for index options by over three times, reducing the number of contracts expiring each week and hiking margins. Shares of Angel One, 5Paisa Capital, SMC Global Securities, Motilal Oswal, Geojit Financial, Dolat Algotech and IIFL Securities fell between 1%-5%.
NCLT asks Mahindra Homes to notify homebuyers in the share capital reduction case
Mahindra Homes, a Mahindra Group subsidiary, was directed by the NCLT to notify homebuyers about its proposed capital reduction. This involves canceling a portion of equity shares held by Actis and Mahindra Lifespace Developers. The NCLT recognized homebuyers with pending possession as creditors in line with current financial standards. The next hearing is scheduled for October 30.
Capital Gains Tax FAQs: What are the major changes brought about in LTCG & STT in Budget? All queries answered
Capital Gains Tax Budget 2024: India's Budget proposed significant changes in the taxation of capital gains, aiming for rationalisation and simplification. Key changes include a simplified holding period with only two categories, uniform rates for most assets, removal of indexation, parity between residents and non-residents, and maintaining roll over benefits. The new provisions are effective from 23.7.2024. Here's all your questions answered by the government.
New capital gains tax regime after Budget 2024: STCG, LTCG tax rates, exemption, holding period for equity share, debt, gold, property
Budget 2024 changes capital gains tax with two holding periods, impacting investments like stocks, real estate, and mutual funds. Listed assets like equity have a 12-month window, while others have 24 months. Tax rates have also changed depending on holding period. ET Wealth Online decodes how capital gains tax changes announced in Budget 2024 will impact your investments
Removal of indexation benefit on sale of property: Majority of taxpayers to have substantial tax savings, says tax department
Removal of indexation benefit in Budget 2024: Tax rates on capital gains on the sale of long-term held real estate have been lowered by the budget, although taxpayers will no longer receive the indexation benefit.
Fisc forward, balancing multi-objectives: GoI's fiscal consolidation efforts are also closely tied to its broader economic reforms agenda
Nirmala Sitharaman¡¯s budget strategy ensures India's stability and growth through robust fiscal foundations. The government balances public investment, social welfare, and fiscal deficit reduction, setting the FY25 target at 4.9% of GDP with a goal below 4.5% by FY26. Lower deficits enhance credibility and attract investment. Infrastructure capital expenditure boosts growth and revenues, with state governments receiving support. Reforms target renewable energy, skill development, and digital infrastructure for competitiveness.
Budget 2024: Transit oriented development, stamp duty reduction to boost housing sale
Lower stamp duties, especially for women, will boost real estate through digitization and rental housing. A Rs 10 lakh crore urbanization budget emphasizes Transit Oriented Development and affordable housing. Experts see positive effects for tiers 2 cities, modernization, and financial independence, supported by NAREDCO, Colliers India, Signature Global, and Vishal Raheja.
'PVR Inox derisking by making costs variable'
PVR Inox is implementing strategic changes in its multiplex business to mitigate risks and ensure profitability, focusing on revenue sharing, cost optimisation, and debt reduction. The chain plans to shut down non-performing screens, expand food courts, and introduce diverse content to attract more audiences. The company aims to open new screens while navigating challenges such as competition from OTT platforms and economic fluctuations.
GST Council recommends reduction of GST on carton boxes from 18 pc to 12 pc
Industries Minister Harshwardhan Chauhan, representing the State, thanked the council for taking the decision unanimously on the proposal of the state. He said that the decision would also help the industry reduce working capital costs.
What does a reduction in ticket size of corporate bonds to Rs 10,000 mean for retail investors
The key amendments introduced by Sebi are designed not only to lower the entry barriers for potential investors but also to enhance the overall efficiency and transparency of the bond market.
RBI's proposed digital payments intelligence platform will mitigate frauds, say experts
The Reserve Bank's proposal to establish a digital payments intelligence platform aims to combat fraud and enhance consumer trust. A committee led by A P Hota will assess the creation of this platform, leveraging advanced technologies to mitigate payment fraud risks.
Confident of maintaining guidance at 35% to 40% going ahead: Abhay Bhutada, Poonawalla Fincorp
?As you know we operate at 102 branches, but maximum we are gaining market share there and going forward whatever guidance we have given 35% to 40%, I think in the past also we have over-delivered. Going further, we will stick to our guidance and we are confident of achieving the given guidance.
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