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Investors in India are turning to small companies offering up to $100m in stock sales as the country hosted 92 such listings this year, the most in the world, according to Bloomberg data. After recent large IPOs such as paytech start-up Paytm and the nation's largest insurer, which both lost investors money, investors are seeking the higher returns of smaller firms fueling India's economy thanks to a five-month market rally. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wjZqO5U

The new prices will come into effect from Tuesday, with Delhi's retail sales price of 19kg commercial LPG cylinder being set at Rs 1,680. In contrast, the Oil marketing companies have decided to keep domestic cooking gas rates unchanged, as per insider information. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QWCT6Lj

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Ruling out any change in the proposed 28% GST on online gaming and casinos, government sources said it is prudent to stick to levying tax on the gross value as any other method comes with complications in businesses that lack transparency. The gaming industry has been seeking a review of last month's GST Council decision, arguing that the levy is too steep and will hurt business. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/4DiVf8N

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Commerce and Industry Minister Piyush Goyal on Saturday said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports.India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union (EU). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PNRkfIS

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Adani Group, owned by Indian billionaire Gautam Adani, is reportedly in talks to borrow $600 million to $750 million to refinance the debt taken on to buy Ambuja Cements. Adani New Industries has also raised $394 million via a loan from Barclays and Deutsche Bank for a solar module project. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YqH7K0l

The airline, also known as Go First, had in May sought an emergency arbitration to prevent it from going out of business and blamed Raytheon Technologies-owned engine maker for its financial woes and bankruptcy filing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WXRm91Z

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The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest US central bank policy rate in 16 years.The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NIF3XU7

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You may soon see instant transfer of money in your bank account if you sell a stock, unlike now when the amount is credited the next day. Similarly, if you buy a stock, it would reflect in your demat account the same day. Markets regulator Sebi is working on a mechanism for instant settlement of trades, called T+0 system (see graphic) , in the stock market, a process that would be faster than the current system of settlement one day after the day of trade (T+1), said Sebi chairperson on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rkq6EPm

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US-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MAKSzDN

Reliance Retail said it is revamping Trends fashion stores across the county by adding contemporary and tech-enabled features ranging from self-checkout counters to electronic shelf labels to attract customers of younger generations. Reliance Retail is revamping around 150 Trends stores pan-India with a new brand identity. The stores will have a new look right from the façade to fixtures, lighting, ceiling and flooring, becoming more aspirational for shoppers, the retailer said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Jmq28DR

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The government is unlikely to establish a separate policy to incentivise Tesla to operate in the country, according to a government official. Alternately, the carmaker can apply to existing schemes such as the production-linked incentives scheme for advanced chemistry cell batteries and auto-industry related PLI scheme. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/579UcAF

The Indian government has allowed central government officers to be issued mobile, laptop or similar devices with a cost limit of Rs 1.3 lakh, which can be kept by them for personal use after 4 years. According to the guidelines, all central government officers of deputy secretary and higher rank are eligible for such electronic devices. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uT4ySYU

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ICICI Bank has reported a record net profit of Rs 9,648 crore in Q1-2024—a 39.7% increase from Rs 6,905 crore in Q1-2023. Meanwhile, Kotak Mahindra Bank exceeded analyst estimates to report a 67% jump in standalone net profit at Rs 3,452 crore for the June quarter. On a consolidated level, the profit grew 51% to Rs 4,150 crore. Another private lender, Yes Bank, said its net profit rose 10.3% to Rs 342 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CZ2Jnv1

Billionaire Ravi Ruia bought a £113 million (about Rs 1,200 crore) London mansion linked to Russian property investor Andrey Goncharenko in one of the UK capital’s biggest residential deals in recent years. The family office of Ruia, who co-owns Essar Group, purchased the Hanover Lodge mansion overlooking Regent’s Park at 150 Park Road this month through a sale of the home’s Gibraltar-incorporated holding company, according to a person familiar with the matter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hPnR01J

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Prime Minister Narendra Modi on Saturday hit out at the previous UPA government, saying while it destroyed the banking sector with "scams" his dispensation has restored its good financial health, with India now known for the sector's strength. He said that the "phone banking" scam was one of the biggest scams of the previous government as it broke the back of the banking system. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PGtFQfq

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Amazon said Friday it will invest $120 million to build a satellite construction facility at NASA's Kennedy Space Center, as part of its plans to launch a space internet service to rival SpaceX's Starlink. The company founded by Jeff Bezos says its "Project Kuiper" will provide "fast, affordable broadband to unserved and underserved communities around the world," with a constellation of more than 3,200 satellites in low Earth orbit (LEO). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZB4sbKU

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Tesla's warning about possibly having to keep cutting the prices of its electric vehicles led to a significant drop in Elon Musk's fortune by $20.3 billion. Musk's net worth of $234.4 billion is still higher than Bernard Arnault's, the chairman of LVMH, by about $33 billion. However, the wealth gap between the two billionaires is narrowing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LoEQYaU

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