Share market and trading News

The Ministry of Housing and Urban Affairs advises repurposing Smart Cities Mission SPVs after the scheme's closure on March 31. States and UTs are encouraged to assign new strategic roles to these SPVs, leveraging their expertise in technology, project implementation, and investment facilitation. This aims to sustain urban innovation and reinforce the capacity of Urban Local Bodies. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/pBbr47L

Despite Vijay Mallya's claims of settling his debts, the government and banks assert that he still owes a substantial amount. While banks have recovered Rs 10,815 crore from Kingfisher Airlines' dues, a gap of Rs 6,997 crore remains. Mallya's assertions appear to consider only the principal amount, neglecting accrued interest and penal charges, as lenders continue recovery efforts. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/q5TdeoP

The automobile industry is requesting government assistance to speed up Chinese government approvals for importing rare earth magnets, essential for passenger cars and other applications. Domestic suppliers have applied through Chinese vendors, but approvals are pending. China, controlling over 90% of global processing, now requires export licenses for seven rare earth elements, impacting multiple sectors. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/VYckC56

Sat Pal Bhanoo has been appointed as the interim MD and CEO of Life Insurance Corporation of India (LIC), effective June 8, following the Department of Financial Services' approval. Bhanoo, the most senior among the LIC MDs, will hold the position for three months or until a permanent appointment is made. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/PflK1DX

India's top oil suppliers, including Saudi Arabia, Russia, Iraq, and the UAE, have boosted production, directing most of the additional output to India, raising their collective market share to 78%. This surge, exceeding OPEC+'s planned increase, has led to competitive pricing, particularly from Saudi Arabia, impacting global crude prices and intensifying competition for India's growing market. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/d2e3LRV

Sakshi Gupta, a former ICICI Bank relationship manager in Kota, was arrested for a multi-crore fraud spanning two years. She illicitly accessed over 110 customer accounts, diverting funds into stock market investments and breaking fixed deposits. The fraud, discovered after an internal probe, involved unauthorized overdrafts, debit card usage, and a fraudulent personal loan, leading to significant financial losses for customers. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/myz24KE

H&M, a publicly traded company since 1974, is witnessing a significant shift towards private ownership as the Persson family, its founders, have aggressively increased their stake. Since 2016, they've invested over $6.6 billion, raising their control to almost 64%. This substantial accumulation fuels speculation about a potential move to take the fast-fashion retailer private, despite the family's denials. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/gwrOY0G