The government’s stake sale in Bharat Heavy Electricals Ltd (Bhel) was oversubscribed two times on the first day, with institutional investors placing bids worth over Rs 5,650 crore on Wednesday.Institutional investors bid for more than 22.07 crore shares at an indicative price of Rs 256.07 per share, against about 9.40 crore shares on offer under…
US stocks moved closer to record levels on Wednesday after data showed the country’s unemployment rate unexpectedly improved last month, boosting investor confidence about the resilience of the economy.The S&P 500 rose 0.5% and was trading just below its all-time high set late last month. The Dow Jones Industrial Average was up 222 points, or…
Net direct tax collection rose 9.4 per cent to about Rs 19.44 lakh crore in the current financial year till February 10, supported by lower refund payouts and higher corporate tax collections, according to data released by the Income Tax Department on Wednesday.Net corporate tax collection increased 14.51 per cent to Rs 8.90 lakh crore,…
The Union Budget for FY 2026-27 has pegged total expenditure at Rs 53.47 lakh crore, Finance Minister Nirmala Sitharaman said while replying to the discussion on the Budget in the Lok Sabha, outlining the government’s strategy of maintaining high capital spending alongside fiscal consolidation.The revised estimate for the current financial year ending March 31 has…
State Bank of India (SBI) has overtaken Tata Consultancy Services (TCS) to become India’s fourth-largest listed company by market capitalisation, supported by a sharp post-results rally and improving sentiment around public sector banks.SBI’s market capitalisation now stands at nearly Rs 10.92 lakh crore, ahead of TCS at about Rs 10.52 lakh crore, according to an…
Indian Railways’ accelerated electrification push has sharply reduced diesel consumption, helping cut crude import dependence while expanding cleaner rail operations across the country. Mission-mode electrification has now covered about 99.4% of the Broad Gauge network, with the remaining stretches also taken up for completion.According to information shared by Railways Minister Ashwini Vaishnaw in the Lok…
Benchmark equity indices Sensex and Nifty ended almost unchanged on Wednesday in a volatile, range-bound session, as gains in PSU banking and auto stocks were neutralised by weakness in information technology shares. The 30-share BSE Sensex slipped 40.28 points, or 0.05 per cent, to settle at 84,233.64. During the session, the index touched an intraday…
Safe-haven buying returned to the bullion market as silver and gold futures rebounded sharply, tracking supportive global cues and a softer US dollar.Gold futures also saw value buying, with the April contract rising Rs 1,397, or 0.89 per cent, to Rs 1,58,200 per 10 grams. In the previous session, the yellow metal had settled lower…
In 2024, Bangladesh’s global garment exports were $50.9 billion, which is much higher than India’s $16.3 billion. (AI image) The US-Bangladesh trade deal has the Indian textile sector exporters worried? The Donald Trump administration has reduced the tariffs on Bangladesh to 19%, but a clause of zero tariffs on textile exports may hit the Indian…
UAE Corporate Tax Exemption for Non-Commercial Sports Entities Announced In a significant fiscal and policy shift this week, the United Arab Emirates Ministry of Finance announced a new corporate tax exemption for non-commercial sports entities under Cabinet Decision No. (1) of 2026, marking a major development in how the UAE supports and positions its sporting…
