Posts in category Business Standard
EPFO adds 15.48 lakh net members in February 2024 (22-04-2024)
EPFO's latest provisional payroll data highlights that EPFO has added 15.48 lakh net members in the month of February, 2024. The data indicates that around 7.78 lakh new members have been enrolled during February, 2024. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.36% of the total new members added in February 2024 indicating the majority of individuals joining the organized workforce are youth, primarily first-time job seekers. The payroll data highlights that approximately 11.78 lakh members exited and subsequently rejoined EPFO. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection. Gender-wise analysis of payroll data unveils that out of 7.78 lakh new members, around 2.05 lakh are new female members. ...
R R Kabel announces cessation of CEO (22-04-2024)
With effect from 22 April 2024
Board of Indian Overseas Bank approves raising capital up to Rs 6000 cr (22-04-2024)
At meeting held on 22 April 2024
Rallis India reports standalone net loss of Rs 21.00 crore in the March 2024 quarter (22-04-2024)
Sales decline 16.63% to Rs 436.00 crore
Tanfac Industries standalone net profit declines 43.39% in the March 2024 quarter (22-04-2024)
Sales decline 11.01% to Rs 102.81 crore
IndusInd Bank successfully executes RBI’s programmable CBDC pilot (22-04-2024)
An innovative financial solution for the agriculture sector
IEL reports standalone net profit of Rs 0.14 crore in the March 2024 quarter (22-04-2024)
Sales rise 785.44% to Rs 9.12 crore
Gold, silver retreat from record levels as Iran-Israel tensions ease (22-04-2024)
Gold and silver prices retreated from record high levels in the national capital on Monday, with the precious metal plunging by Rs 450 per 10 grams, due to weak global trends and easing tensions in West Asia.
Gold prices declined by Rs 450 to Rs 73,650 per 10 grams amid weak trends in the overseas markets, according to HDFC Securities. The yellow metal had settled at Rs 74,100 per 10 grams on Friday.
Silver prices also tumbled by Rs 1,100 to Rs 85,500 per kg. In the previous close, it had closed at Rs 86,600 per kg.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 73,650 per 10 grams, down by Rs 450 against the previous close," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,365 per ounce, down by USD 26 from the previous close.
Gold resumed trading on a weaker note on Monday as demand for the safe haven asset decreased after easing geopolitical tensions in the Middle .
Sensex climbs 560 pts, Nifty ends above 22,300, VIX slumps below 13 mark (22-04-2024)
Domestic stocks advanced on Monday, clawing their way back after last week's selloff. The Nifty climbed above 22,300, with all sectors on the rise. PSU banks, consumer durables, and healthcare led the charge. Relief from Middle East tensions helped fuel the rally. Investors also piled back into smaller companies, broadening the market recovery. However, worries about persistently high inflation and a hawkish US Federal Reserve are keeping a lid on investor enthusiasm.
Mutual funds collection through NFOs up 6.5% at Rs 66,364 crore in FY24 (22-04-2024)
Asset management companies (AMCs) floated 185 new fund offerings mobilising Rs 66,364 crore in 2023-24, marking a 6.5 per cent increase from the previous year, amidst growing interest of retail investors and significant uptrend in broader markets.
This was higher than Rs 62,342 crore garnered by AMCs through 253 New Fund Offerings (NFOs) in 2022-23.
"The financialisation of savings in India is currently underway, signifying a growing recognition among investors that investing in financial assets is integral to building wealth. With income and expenditure levels rising constantly, there is a heightened need to channel monthly savings into avenues offering higher returns. The substantial inflow of investments into equities underscores a notable shift in investor attitudes and risk appetites," FYERS Research said in its report.
As India's growth narrative gains momentum and investment opportunities expand, many unlisted companies seek capital market support. This trend bodes well for .