As a conduit for both outward and inward investment, GIFT City has continued to attract fund managers and investors, with RBI's data showing a 19?GR over two years in LRS remittances. At PMS Bazar's GIFT City Conclave, Mihir Shirgaonkar, Vice President, Alternative Investments at Phillip Ventures IFSC, highlighted that resident Indians’ use of the RBI's Liberalised Remittance Scheme (LRS) for in...

A block deal involving Rs 706 crore shares of Contract Development Manufacturing Organisation (CDMO) player Syngene International took place on the exchanges on December 10, with promoter Biocon being the likely seller. As much as 82.2 lakh shares, making up a 2 percent stake in Syngene changed hands at an average price of Rs 858.5 apiece, reflecting an over 1 percent discount from Monday's closin...

Elon Musk who now officially owns Twitter on Sunday tweeted saying that “all users engaging in impersonation without clearly specifying it as a ‘parody’ account will permanently be suspended without a warning.” In accordance with this tweet, Musk further mentioned that previously users were given a warning before their accounts were suspended, but since now Twitter will be rolling out wid...

The relentless selling of Indian stocks by foreign investors continued, as they pulled out a little over Rs 25,200 crore from the Indian equity market in the first fortnight of this month, on hike in interest rate globally and concerns over rising COVID cases.“Headwinds in terms of higher crude prices, rising inflation, tightening monetary policy etc weigh on indices. Besides these, investors ar...

As prices of crude and other commodities trend upwards and inflation prints remain above the monetary policy committee’s (MPC) tolerance level, the central bank’s rate-setting panel may have to raise its inflation projection substantially. Economists that FE spoke to see the inflation forecast of 4.5% for FY23 being raised by anywhere in the range of 20-100 basis points (bps) during the April ...