Economy news

• Sebi board announces stricter regulations for SME IPOs to improve

  18-12-2024 18:44 via timesofindia.indiatimes.com
  
  Sebi has introduced stricter regulations for SME IPOs, mandating a minimum operating profit and limiting selling shareholders' divestment to 50% of their stake.These measures aim to enhance transparency, governance, and fund utilization in the booming SME segment.The new rules also restrict the use of IPO proceeds for settling loans from related parties.
  
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• Manufacturing Of 10 Vande Bharat Sleepers, 200 Rakes In Pipeline, Says Railways Minister

  18-12-2024 18:42 via zeenews.india.com
  
  The timeline of the rollout of the train is subject to the successful completion of the trials. As of 02nd December 2024, 136 Vande Bharat train services are operational on the Broad Gauge electrified network of Indian Railways for short and medium-distance journeys across the country.
  
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• Ahead of IPO, DAM Capital Advisors collects Rs 251 crore from anchor investors

  18-12-2024 17:23 via timesofindia.indiatimes.com
  
  DAM Capital Advisors has raised Rs 251 crore from anchor investors, including prominent names like Nomura, Goldman Sachs, and several mutual funds.The investment bank's IPO, entirely an offer-for-sale, opens on December 19th with a price band of Rs 269-283 per share, aiming for a Rs 2,000 crore market capitalization. Listing is expected on December 27th.
  
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• Razorpay plans to go public in 2026, eyes $1 billion in revenue by 2030

  18-12-2024 17:00 via timesofindia.indiatimes.com
  
  Fintech unicorn Razorpay is shifting its headquarters from the US to India, aiming for a 2026 IPO.Despite facing potential $300 million tax implications, the move is underway, pending regulatory approvals.The company, valued at $7.5 billion, seeks to list where it's recognized and projects a 50%+ growth rate over the next few years.
  
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• Telangana govt teams up with ITServe Alliance to drive IT sector growth in smaller towns

  18-12-2024 16:16 via timesofindia.indiatimes.com
  
  Telangana government signed an agreement with ITServe Alliance.The goal is to create 30,000 IT jobs in smaller towns.This will boost the state's IT sector.The government will provide infrastructure.ITServe Alliance will bring in its member companies.This partnership aims to develop local talent and reduce migration to Hyderabad.
  
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• ITC ups stake in Oberoi Group & Leela Mumbai ahead of hotel arms Jan 1 demerger

  18-12-2024 16:04 via timesofindia.indiatimes.com
  
  ITC bought more shares of EIH, the parent company of Oberoi Hotels. ITC's stake in EIH is now 16.13%. ITC also increased its stake in HLV Ltd, owner of The Leela Mumbai, to 8.11%. This happened before ITC Hotels separated from the main ITC group on January 1, 2025. ITC purchased the shares from its subsidiary, Russell Credit Ltd.
  
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• CCPA Issues 325 Notices For Consumer Right Violations, Imposes Penalties Worth Rs 1.19 Crore

  18-12-2024 15:50 via zeenews.india.com
  
  On Tuesday, the Parliament was informed that the CCPA imposed penalties of Rs 61.60 lakh on 19 coaching institutes and issued notices to 45 coaching centres for misleading advertisements. 
  
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• Bharat Mobility Expo Set To Become World's Largest Automotive Show Soon: EEPC India

  18-12-2024 14:34 via zeenews.india.com
  
  Bharat Mobility Expo: The Ministry of Commerce and Industry will host the Bharat Mobility Global Expo 2025 in January in three venues - Bharat Mandapam in New Delhi, Yashobhoomi in Dwarka, and India Expo Centre and Mart in Greater Noida.
  
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• Nitin Gadkari Inspects Mahindra's New EV BE 6, XEV 9e; Check His Reaction

  18-12-2024 14:10 via zeenews.india.com
  
  Mahindra's New EV- BE 6, XEV 9e: Union Road and Transport Minister Nitin Gadkari has praised Mahindra for its recently launched electric cars, the Mahindra BE 6 and XEV 9e.
  
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• Indian Railways: Free Travel For Maha Kumbh Mela In Trains? Check The Truth

  18-12-2024 13:18 via zeenews.india.com
  
  Indian Railways: The Ministry of Railways on Wednesday dismissed as "baseless" claims that passengers would be allowed to travel free of cost during the Maha Kumbh Mela, and said no such provision exists.
  
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• PMAY 2.0: How To Apply For New Homes Under Pradhan Mantri Awas Yojana? Check Eligibility And Required Documents

  18-12-2024 13:00 via zeenews.india.com
  
  PMAY 2.0 Apply Online: As per the Ministry of Housing and Urban Affairs, the first phase of PMAY-Urban saw the sanctioning of 1.18 lakh houses, out of which over 8.55 lakh were completed and handed over to beneficiaries.   
  
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• Punjab: Train Services Affected Due To Farmers' 'Rail Roko' Protest

  18-12-2024 12:56 via zeenews.india.com
  
  Train Services Affected In Punjab: Train services in Punjab were affected as farmers squatted on rail tracks on Wednesday as part of their three-hour 'Rail Roko' protest to press the Centre into accepting their various demands, including a legally binding minimum support price for crops.
  
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• These special FDs offer up to 8.10% interest rate: Here’s the deadline for investing in high rate fixed deposits

  18-12-2024 12:30 via timesofindia.indiatimes.com
  
  Punjab & Sind Bank and IDBI Bank are offering special fixed deposit (FD) schemes with higher interest rates until December 31, 2024.IDBI's Utsav FD offers rates up to 7.85% for senior citizens. Punjab & Sind Bank provides rates up to 8.10% for super senior citizens on select FDs with varying tenures.
  
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• 17.80 Lakh New Employees Enrolled Under ESIC In October, Posts 3% Growth

  18-12-2024 12:29 via zeenews.india.com
  
  The data showed that out of the total 17.80 lakh employees added during the month, 8.50 lakh employees amounting to around 47.75 per cent of the total registrations belonged to the age group of up to 25 years.
  
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• Can Electric Cars Go Uphill? Real-Life Experience From Noida To Mussoorie And Back

  18-12-2024 12:14 via zeenews.india.com
  
  Electric Cars: Can electric cars go uphill? Of course, you can go and explore mountains or hilly areas driving electric cars, to an extent, and knowing the calibre of your vehicle helps in taking an informed call.
  
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• Sensex, Nifty Extend Losses Into 3rd Session On Foreign Fund Outflows

  18-12-2024 11:54 via zeenews.india.com
  
  The 30-share BSE benchmark Sensex tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07.
  
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• Axis Bank Credit Card Rules Changing From 20 December: From Finance Interest Charges To NACH Payment And More

  18-12-2024 10:17 via zeenews.india.com
  
  Private sector lender Axis Bank has announced a host of changes in the terms and conditions of its credit cards that will kick in from 20 December 2024.
  
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• Delhi Metro Services Between Jahangirpuri And Samaypur Badli To Be Affected For Over 10 Days

  18-12-2024 09:25 via zeenews.india.com
  
  Delhi Metro: The Delhi Metro train services will remain affected between Jahangirpuri and Samaypur Badli stations for over ten days from Wednesday, the DMRC said.
  
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• Zomato CEO Deepinder Goyal is India's 2nd biggest self-made entrepreneur - check top 10 in new Hurun list

  18-12-2024 09:00 via timesofindia.indiatimes.com
  
  Hurun India ranks Deepinder Goyal as India's second-highest valued self-made entrepreneur after Radhakishan Damani. The list includes prominent figures from Dream11, Swiggy, Zerodha, Razorpay, and Nykaa.
  
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• Rapper Badshah Breaks Traffic Rules In Gurugram, Police Issue Rs 15,000 Challan

  18-12-2024 08:42 via zeenews.india.com
  
  Rapper Badshah: Gurugram Traffic Police has issued a challan of Rs 15,000 after a Mahindra Thar carrying popular rapper Badshah was found driving on the wrong side of the road.
  
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• Vishal Mega Mart Shares Surge 41% In Market Debut

  18-12-2024 07:54 via zeenews.india.com
  
  The stock listed at Rs 110, rallying 41 per cent from the issue price on the BSE. Later, it surged 42.24 per cent to Rs 110.95.
  
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• Stocks on brokerages’ radar for December 18

  18-12-2024 07:50 via timesofindia.indiatimes.com
  
  Several brokerage houses issued recommendations on various stocks. Motilal Oswal recommended buying Kirloskar Oil Engines, while ICICI Securities suggested buying PVR Inox, Sun TV, and Zee Entertainment. InCred Equities favored Persistent Systems, and Emkay Global gave mixed recommendations on metal stocks, selling Hindalco but buying Nalco and Vedanta. JM Financial recommended buying Piramal Pharma.
  
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• Terrifying Videos Of Cars Skidding On Black Ice Go Viral: 6 Essential Tips For Safe Snow Driving

  18-12-2024 07:14 via zeenews.india.com
  
  Snow Driving Safety Tips: Driving in snow or black icy conditions can be dangerous. Recently, several videos of cars skidding on black ice in Manali, Himachal Pradesh, have surfaced on social media platforms, highlighting the risks of driving in such conditions.
  
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• Is RBI Taking Rs 5 Coins Out of Circulation? Will They Be Discontinued?

  18-12-2024 07:10 via zeenews.india.com
  
  Will Rs 5 coin remain to be a legal tender, amidst reports that RBI is discontinuing with the denomination? Find out.
  
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• World’s 10 most powerful business leaders in 2024; find out who represents India in the Global 100

  18-12-2024 06:58 via timesofindia.indiatimes.com
  
  The world's top 10 business leaders of 2024 have significantly impacted industries. Elon Musk leads in innovation. Jensen Huang drives AI advancements. Satya Nadella transformed Microsoft. Warren Buffett remains an investment icon.Mukesh Ambani, chairman of Reliance Industries, is the only Indian on Fortune's Global 100 list. He ranks 12th globally.
  
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• One Mobikwik Systems' Stock Makes Stunning Market Debut; Jumps Over 58%

  18-12-2024 06:34 via zeenews.india.com
  
  The stock began the trade at Rs 442.25, reflecting a jump of 58.51 per cent from the issue price on the BSE. Later, it zoomed 87.81 per cent to Rs 524.
  
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• MobiKwik's shares jump 85% on trading debut, valued at Rs 40 billion

  18-12-2024 06:19 via timesofindia.indiatimes.com
  
  MobiKwik's shares surged 85% on their debut, valuing the company around Rs 40 billion.The successful $67 million IPO, oversubscribed by 120 times, highlights the booming fintech sector in India.This contrasts with the broader market's decline, with Sensex and Nifty dipping amid foreign fund outflows and pre-Fed decision caution.
  
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• Sovereign Gold Bond Scheme Series XII of SGB 2017-18 Premature Redemption On December 18: How Much Money Will You Get?

  18-12-2024 05:58 via zeenews.india.com
  
  Premature redemption Sovereign Gold Bond Scheme  Series XII of SGB 2017-18: How Much Money Will You Get? Check Details.
  
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• Stock market today: BSE Sensex opens over 100 points down; Nifty50 below 24,300

  18-12-2024 04:49 via timesofindia.indiatimes.com
  
  Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red for the third consecutive day on Wednesday. While BSE Sensex was below 80,600, Nifty50 was below 24,300.
  
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• Stock market today: BSE Sensex ends 502 points down; Nifty50 below 24,200

  18-12-2024 04:49 via timesofindia.indiatimes.com
  
  Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, plunged in trade for the third consecutive day on Wednesday. While BSE Sensex went below 80,200, Nifty50 was below 24,200.
  
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• Nissan and Honda consider merger to take on world's biggest carmaker

  18-12-2024 03:52 via timesofindia.indiatimes.com
  
  Honda and Nissan are in preliminary merger talks, potentially creating a holding company to rival Toyota.This move could also involve Mitsubishi, further consolidating the Japanese auto industry.The discussions aim to strengthen their position against global competitors, particularly in the electric vehicle market, and address financial challenges.
  
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• Vishal Mega Mart set to debut in Mumbai after $944 million IPO

  18-12-2024 03:36 via timesofindia.indiatimes.com
  
  Vishal Mega Mart Ltd. launched its IPO, raising $944 million and valuing the company at $4 billion. The offering was oversubscribed 27 times, driven by strong investor demand. The company, which operates over 600 stores across India, focuses on value pricing and caters to middle- and lower-income consumers, primarily in smaller cities and towns.
  
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• Adani to merge Sanghi, Penna with Ambuja

  18-12-2024 02:48 via timesofindia.indiatimes.com
  
  Ambuja Cements is merging its subsidiaries, Sanghi Industries and Penna Cement, to boost operational efficiency.Sanghi shareholders will receive 12 Ambuja shares for every 100 Sanghi shares.Post-merger, the Adani family's ownership in Ambuja will slightly decrease to 67%, while public shareholding will rise to 33%.
  
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• CBDT sends alerts on mismatch in ITRs, AIS

  18-12-2024 02:43 via timesofindia.indiatimes.com
  
  The Income Tax Department is reaching out to taxpayers and non-filers via SMS and email regarding discrepancies found between their reported transactions in the Annual Information Statement (AIS) and their disclosed income in Income Tax Returns (ITRs) for FY2023-24 and FY2021-22.
  
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• Small town India joins crypto rush despite taxes

  18-12-2024 02:40 via timesofindia.indiatimes.com
  
  Cryptocurrency trading is booming in smaller Indian cities, attracting investors under 35.Meme coins like Dogecoin and SHIB are gaining popularity despite high taxes.Global crypto markets surged after pro-crypto US President Trump's election and appointment of Paul Atkins to the SEC, boosting Bitcoin's market cap to $2 trillion.
  
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• Lost track of inactive mutual funds? Sebi plans search platform

  18-12-2024 02:34 via timesofindia.indiatimes.com
  
  India's market regulator, Sebi, is planning a portal, MITRA, to help investors find lost mutual fund investments.Inactive accounts, often due to missing PAN or outdated contact information, will be searchable through a central database managed by CAMS and KFintech.This initiative aims to reduce unclaimed accounts and protect against fraud, improving transparency in the financial system.
  
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• Slowdown in Q2 is a 'temporary blip': FM

  18-12-2024 02:30 via timesofindia.indiatimes.com
  
  Finance Minister Nirmala Sitharaman addressed concerns about India's economic slowdown, calling the second-quarter dip a "temporary blip."She highlighted the country's strong average growth rate of 8.3% over the past three years and emphasized the government's commitment to managing inflation, citing recent positive trends and supply-side measures.
  
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