Despite the Centre’s fiscal deficit reaching just 50.7% of its full-year target by end November 2023, experts warn that it might slightly surpass the full-year target of 5.9% of the GDP. Analysts suggest that the fiscal deficit for FY24 could hover around 6% due to lower-than-anticipated nominal GDP growth. Devendra Kumar Pant, Chief Economist & Senior Director – Public Finance…
In a recent exchange filing, Life Insurance Corporation of India (LIC) announced a reduction in its shareholding in Tata Motors Limited, decreasing from 5.110% to 3.092% of the paid-up capital of the company. The shift resulted in a decrease in the number of equity shares held by LIC from 169,802,847 to 102,752,081. This reduction in holding, reflecting a 2% decrease,…
Investors celebrated a prosperous year in 2023, witnessing a substantial addition of Rs 81.90 lakh crore to their wealth. The robust performance was attributed to a combination of factors, including India’s resilient macroeconomic fundamentals, political stability following the BJP’s success in recent state elections, an optimistic outlook for corporate earnings, and signals from the US Federal Reserve hinting at three…
The Maharishi Valmiki International Airport Ayodhyadham in Ayodhya is set to commence operations from December 30, marking a significant milestone as a major gateway to the temple town. The airport’s first phase of construction, with an estimated cost of around Rs 1,450 crore, includes a 2200m runway suitable for A-321 type aircraft, two link taxiways, and an apron capable of…
In a remarkable year for the world’s wealthiest individuals, Mukesh Ambani experienced a significant boost, adding $9.98 billion to his wealth. Bloomberg data reveals that the collective net worth of the top 500 richest individuals surged by $1.5 trillion in 2023, rebounding from the $1.4 trillion loss incurred the previous year. Mukesh Ambani, the chairman of Reliance Industries, saw a…
In the face of global volatility driven by rising interest rates and geopolitical risks, companies have showcased resilience by raising over Rs 52,000 crore through mainboard IPOs in 2023. The number of IPOs has increased, marking a dynamic trend, while experts maintain a strong bullish outlook for the IPO market in 2024. Excluding LIC’s significant maiden public issue in 2022,…
Tata Consumer Products Ltd (TCPL), a Tata Group company renowned for brands such as Tata Tea and Tetley, reached a market capitalization milestone of ₹1 lakh crore on Friday. In early trading, TCPL shares commenced at ₹1,063 and surged to an all-time high of ₹1,094 before closing at ₹1,086 by the end of the BSE trading session. With this achievement,…
According to the Reserve Bank of India’s Financial Stability Report released recently, the Gross Non-Performing Assets (GNPA) ratio of banks is expected to witness a potential decline to 3.1% by September of the coming year, down from the current 3.2%. However, in a severe stress scenario, this ratio may rise to 4.4%, as outlined in the bi-monthly report. The report…
According to the latest Financial Stability Report from the Reserve Bank of India (RBI), assessing systemic risks within non-banking financial companies (NBFCs) poses a notable challenge due to the diverse nature of this segment. A significant portion of the NBFC segment’s advances—approximately 95%—is attributed to NBFC-investment and credit companies (NBFC-ICCs) and NBFC infrastructure finance companies (NBFC-IFCs). The RBI highlights that…
During the annual Techfest at the Indian Institute of Technology (IIT)-Bombay, Akash Ambani, Chairman of Reliance Jio Infocomm, unveiled the telecom operator’s forthcoming project, the ‘Bharat GPT’ programme, in collaboration with the institute. Ambani shared this information but refrained from providing detailed specifics about the initiative. Acknowledging the ongoing discussions, a source close to the company informed Inc42 that these…
