Indian Prime Minister Narendra Modi’s state visit is being framed as a game-changing engagement with American President Joseph Biden. Beyond the theatrics, both governments appear poised to announce a wide-ranging package of concrete deliverables. There is real momentum behind the expansion of security ties, including both defence and strategic commercial issues.The larger challenge remains – ...

Public sector steel companies paid over Rs 692.36 crore to micro, small, and medium enterprises (MSMEs) in May this year, 35.6 percent higher than the payment made in the same month last year.According to an official statement, during April-May 2023, steel CPSEs (Central Public Sector Enterprises) have made payments of Rs 1,321.32 crore to MSMEs, which is 23.8 percent higher than Rs 1,067.53 crore...

Shares of JB Chemicals and Pharmaceuticals surged over 4 percent in the morning trade to hit a record high of Rs 2,447.75, buoyed by global research and broking firm Jefferies' strong growth outlook for the company.At 12.28 pm, the share was trading at Rs 2,404.10, up 2.44 percent on the NSE.Jefferies, much like other brokerages, maintains a bullish view of JB Chemicals. The firm said the life-cyc...

Homegrown advertising agency Crayons Advertising on Wednesday said it has fixed a price band of Rs 62-65 per share for its initial share sale offering, which will open for public subscription on May 22.The issue will conclude on May 25 and shares of the company will be listed on NSE Emerge, the company said in a statement.The company would offer 64.30 lakh equity shares of face value Rs 10 each th...

State-run GAIL (India) Ltd has initiated arbitration against a former unit of Russia's Gazprom in London after the latter reneged from its contractual obligation to supply liquefied natural gas (LNG), Chairman and Managing Director Sandeep Kumar Gupta said on May 19.“They had alleged force majeure. We did not accept that considering that this was a portfolio contract and they should have supplie...

As expected, the Reserve Bank of India's (RBI) dividend to the central government for 2022-23 is much larger than what the Union Budget for 2023-24 had penciled in.On May 19, the RBI's central board of directors approved the transfer of Rs 87,416 crore as a dividend, nearly Rs 40,000 crore more than the Rs 48,000 crore the government had expected to get. The dividend is nearly three times the Rs 3...

HDFC Mutual Fund has launched the New Fund Offering (NFO) of the first defence sector fund in India, the HDFC Defence Fund (HDF). The NFO opens on May 19, 2023. At a time when geopolitical tensions are rising in many parts of the world, the need to invest in defence capabilities is being increasingly felt. No wonder defence-focused businesses are in demand and a fund around it should hog some inve...

If you don’t make money from your mutual fund scheme, should your fund manager be making any? That’s the idea behind the performance-linked fee, which promises to be a game changer. The challenge will be in its implementation.The capital markets regulator, the Securities and Exchange Board of India (Sebi), has proposed a drastic overhaul in the way mutual funds (MF) charge their expenses to cu...