RR Finance News Corner

In order to promote industrial growth and increase capacity, Finance Minister Nirmala Sitharaman underlined the significance of lowering borrowing costs. Speaking at the 11th SBI Banking and Economics Conclave, she listed government programs targeted at stabilising the economy and addressed urgent economic issues like inflation. Measures to assist businesses, especially small and medium-sized firms (SMEs), were given special attention...

A CRISIL analysis states that although Donald Trump's anticipated tariff rises would pressure India's export industry, the nation's robust services trade surplus, and consistent remittance inflow could provide financial support and relief...

According to a recent Moody's report, India's economy is currently in a favorable macroeconomic situation, combining robust economic expansion with falling inflation rates. According to the credit rating agency, India's GDP is expected to increase by 7.2% in 2024, 6.6% in 2025, and then somewhat less by 6.5% in 2026....

India's trade relations with the United States are set to continue expanding regardless of any changes in the U.S. administration. Recent data from the commerce ministry shows a significant increase in India's exports to the U.S., which rose to USD 39.2 billion in October, compared to USD 21.46 billion in the same month in 2015....

In the third quarter of FY25, India's merchandise exports are expected to exceed $107.5 billion, with a significant rise in non-oil exports. Strong economic activity and increased demand from foreign trading partners are driving this expansion. Exim Bank predicts that the growing trend will continue into the last quarter of the fiscal year. However, this optimistic view could be jeopardised by geopolitical problems and global economic difficulties....

India collected ₹12.1 lakh crore in net direct taxes between April 1 and November 10, an increase of 15.4% from the previous year. Both corporate and individual income tax collections are included in this amount. According to an official statement from the income tax department, direct tax receipts climbed by 21.20% on a gross basis during this time, amounting to ₹15 lakh crore....

India's central bank may postpone any potential rate cuts until at least February, according to economists. This decision reflects concerns over rising imported inflation, stemming from a weakening rupee and elevated U.S. bond yields. The economic environment was further influenced by the election of Donald Trump, who has supported imposing higher tariffs. The combined factors present a complex scenario for the Reserve Bank of India as it balances inflationary pressures with growth considerations...

At a press conference, Deputy Governor Rabi Sankar said that the Reserve Bank of India (RBI) is ready to handle any sudden changes in the exchange rate that might occur due to Donald Trump's presidency. Additionally, he rejected the idea of giving European authorities supervision over India's bond-clearing mechanism, calling it a breach of national sovereignty...

The possible return of Donald Trump to the White House has raised concerns about a more protectionist approach in the world's largest economy. Experts have expressed apprehension over his strong criticisms of existing trade policies, particularly concerning China and India, and his opposition to outsourcing American jobs.

India's GST Revenue reached ₹1.87 lakh crore in October, representing the second-highest monthly GST collection on record. This growth highlights the strength and resilience of India’s economy, even as global uncertainties persist. The October GST collection saw an 8.9% increase compared to last year.

The Reserve Bank of India (RBI) has raised its domestic gold reserves by over 100 metric tonnes in the first half of the fiscal year, ending in September. This increase also boosted gold’s proportion within the country’s total foreign exchange reserves, reflecting the central bank’s intensified gold acquisitions.

At the India Entrepreneurs Forum (IEF), the South African representatives of the State Bank of India (SBI) and the India Exim Bank emphasised how the two banks are actively helping African companies bridge trade finance gaps. Mahesh Kumar, India's consul general, is leading this conference, which is the first of several cooperative interactions with the IEF intended to improve economic relations.

The Reserve Bank of India’s optimistic growth projections for the world’s fastest-growing major economy are stirring both confusion and concern among economists.

A study found that India's Dedicated Freight Corridors (DFCs) are projected to contribute ₹16,000 crore to the nation's GDP. The launch of the Western DFC (WDFC) has already reduced freight costs and travel times, lowering commodity prices by up to 0.5%. From FY 2018-19 to FY 2022-23, DFCs contributed 2.94% to Indian Railways' revenue growth, handling over 10% of the country’s rail freight.

The IMF’s latest World Economic Outlook report underscores a notable transition in global manufacturing, favoring emerging markets such as India and China. It forecasts India's GDP growth to ease to 7% in 2024 and 6.5% in 2025, as the surge in demand triggered by the pandemic subsides.

During the India Credit Forum hosted by Bloomberg, RBI Governor Shaktikanta Das expressed concerns over possibly cutting interest rates in the December upcoming Monetary Policy Committee (MPC) meeting. He emphasized that such a move would be "risky and premature" as India's economic growth remains stable, while inflation shows signs of moderation.

India has offered a ₹487.60 crore credit line to Mauritius to support the replacement of 100 km of aging water pipelines. This is the first instance of a rupee-denominated loan under the IDEAS scheme, reflecting India’s dedication to advancing socio-economic progress in the Global.

India has granted a new line of credit worth ₹487.60 crore to the Government of Mauritius, aimed at financing a water pipeline replacement project, as announced by the Ministry of External Affairs on Thursday.

On October 16, 2024, the Securities and Exchange Board of India (SEBI) increased the position limits for index futures and options applicable to trading members (TMs). Under the revised rules, the position limit for both client and proprietary trades has been raised to Rs 7,500 crore or 15% of the total open interest in the market, whichever is higher. Previously, the limit for trading members, covering both proprietary and client trades, was Rs 500 crore or 15% of the total open interest. The new position limits are effective immediately, and monitoring based on the previous day's OI will start from April 1, 2025.

A recent report highlights India's engineering talent as a crucial asset in addressing the global semiconductor workforce shortage. With the semiconductor market projected to reach USD 1 trillion by 2030, India is set to play a significant role in this growth. The country's semiconductor market alone is expected to expand to USD 80.3 billion by FY28. India may act as a key player in the evolving landscape of the semiconductor sector.

Three exciting IPOs are currently open for subscription – Western Carriers (India) Limited, Arkade Developers Limited, and Northern Arc Capital Limited. These companies, spanning logistics, real estate, and finance, offer opportunities for investors to participate in their growth. Here’s a detailed look at each IPO, including the offer size, pricing, and grey market premium (GMP) updates.

Three exciting IPOs are currently open for subscription – Western Carriers (India) Limited, Arkade Developers Limited, and Northern Arc Capital Limited. These companies, spanning logistics, real estate, and finance, offer opportunities for investors to participate in their growth. Here’s a detailed look at each IPO, including the offer size, pricing, and grey market premium (GMP) updates.

Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited), a part of the Edelweiss Group, is a Housing Finance Company that has been providing access to credit to customers for various kinds of loans since 2010, is set to launch its Non-Convertible Debentures (NCDs) in Sep 2024. This article provides a comprehensive overview of the NCD issue, key details, and the company's background to help potential investors make informed decisions.

Bajaj Housing Finance Limited (BHFL) launched its initial public offering (IPO) on Monday, with the issue open for subscription until Wednesday, 11th September 2024. The IPO has garnered strong interest from investors in the primary market. The price band for the offering is set between ₹66 and ₹70 per share.

The summary indicated that "the vast majority" of participants at the July 30-31 meeting agreed that, if the data continued to align with expectations, it would likely be appropriate to ease policy at the next meeting. Markets are already fully pricing in a September rate cut, which would be the first since the emergency measures implemented during the early days of the Covid crisis...

India’s economy is showing strong signs of growth and resilience, as highlighted by the latest data from the Reserve Bank of India (RBI). The gross foreign direct investment (FDI) inflows surged by 26.4% to $22.5 billion during the April-June quarter of the current financial year, compared to the same quarter of the previous year. This significant increase has resulted in net FDI rising to $6.9 billion in the first quarter of 2024-25, up from $4.7 billion in the same period of 2023-24...

As of August 11, net direct tax collections for this fiscal year have increased by 22.48%, totaling around ₹6.93 lakh crore. This amount includes ₹4.47 lakh crore from personal income tax and ₹2.22 lakh crore from corporate tax. Additionally, ₹21,599 crore was collected through the Securities Transaction Tax (STT), with other taxes contributing ₹1,617 crore...

The proposed amendment gives taxpayers a choice between a 12.5% long-term capital gains tax rate without indexation or a 20% rate with indexation for properties acquired before July 23, 2024. This change follows Budget 2024's proposal to eliminate indexation benefits. Despite concerns, the Income Tax department considers this development advantageous...

The Japanese Yen has appreciated significantly, gaining nearly 10% against the US Dollar over the past three weeks, following multiple actions by the Bank of Japan and the local government...

According to a report by ET Bureau on Thursday, the gross GST collection increased by 10.3 percent, reaching Rs 1,82,075 crore in July. The government has stopped releasing monthly GST collection data. After accounting for refunds, the net collection for July amounted to Rs 1,65,793 crore, reflecting a 14.4 percent year-over-year increase...

On Tuesday, Indian government bond yields fell, propelled by strong demand from domestic banks. The 10-year benchmark yield hit its lowest level in two years, reflecting the impact of the Reserve Bank of India's recent liquidity guidelines for lenders. Market...

The IPO consists of a fresh issue worth Rs 5500 crore and an offer for sale of up to 84.94 million shares. At the upper price band, the offer for sale amounts to Rs 645.96 crore, bringing the total issue size to Rs 6145.96 crore...

On Friday, the Indian rupee hit a historic low of 83.7250 against the U.S. dollar. This decline was fueled by a weak risk appetite, increased dollar demand from oil companies, and outflows from domestic equities. Additionally, the volatility of the Chinese yuan exacerbated the situation, raising concerns over carry trades between the two currencies...

SMC Global Securities Limited has announced the opening of its Non-Convertible Debentures (NCD) issue for 2024. The issue opens on July 19, 2024, and will remain open until August 1, 2024. This offering provides investors with an opportunity to invest in secured, redeemable NCDs, rated as 'A/Stable' by both CRISIL and ICRA....

In an update to its World Economic Outlook, the IMF noted that the improved growth forecast for the Indian economy is driven by increasing private consumption, especially in rural areas...

In June, inflows into equity mutual funds increased by 17% to ₹40,608 crore from ₹34,697 crore in May. As a result, the total assets under management (AUM) of equity mutual funds reached approximately ₹27.68 lakh crore as of June 30, 2024, compared to ₹25.39 lakh crore on May 31, according to AMFI data...

Edelweiss Financial Services Limited (EFSL), a well-known investment banking firm based in Mumbai, is set to launch its Non-Convertible Debentures (NCDs) in July 2024. This article provides a comprehensive overview of the NCD issue, key details, and the company's background to help potential investors make informed decisions...

As the stock market continues to buzz with activity, several companies are preparing to launch their Initial Public Offerings (IPOs) and Small and Medium Enterprise (SME) IPOs. Here's a detailed look at the upcoming IPOs from Emcure Pharmaceuticals Limited, Bansal Wire Industries Limited, Ambey Laboratories, Ganesh Green Bharat and Effwa Infra & Research Limited...

On Friday, India officially joined JP Morgan's Government Bond Index-Emerging Markets (GBI-EM). This follows a September announcement, paving the way for substantial financial inflows into the world's fifth-largest economy. Starting today, Indian Government Bonds (IGBs) will be included in the index, initially with a one percent weight. This weight will increase by one percentage point each month until it reaches a maximum of 10 percent by March 31, 2025. Consequently, India will join China, Indonesia, and Mexico, each having a maximum cap of 10 percent in the JP Morgan Global Bond Index - Emerging Market Global Diversified Index....

India's current account deficit improved significantly to 0.7% of GDP ($23.2 billion) in FY24, down from 2% of GDP ($67 billion) the previous year, due to a reduced merchandise trade deficit, according to the Reserve Bank of India. The current account balance posted a surplus of 0.6% of GDP in Q4 FY24, reversing earlier quarterly deficits....

The SME IPO market is currently vibrant, with four notable companies—Shivalic Power Control Limited, Sylvan Plyboard (India) Ltd, Mason Infratech Limited, and Visaman Global Sales Limited—launching their initial public offerings. These companies are offering fresh shares to raise capital for various business objectives, ranging from working capital requirements to expansion projects. Here's a closer look at each of these SME IPOs.....

The GST council's recommendations aim to benefit suppliers on online platforms and real money gaming firms through tax changes, including a reduction in the tax collected at source for electronic commerce operators.....

India's business activity grew more rapidly in June compared to May, driven by advancements in manufacturing and services. Job creation surged to its highest level in over 18 years, indicating a robust start to the financial year. HSBC's flash India Composite Purchasing Managers' Index climbed to 60.9 in June, marking nearly three years above the 50-level that separates growth from contraction.....