Gwalior East MP Assembly Election 2023 Details: The Election for Gwalior East Assembly Constituency in Madhya Pradesh will be held on November November 17. The date of voting and result was officially announced by the Election Commission of India on October 9 . Here are the important details of the Gwalior East Constituency Assembly Election 2023 that you should know. Gwalior East Constituency Madhya Pradesh Assembly Election 2023: Voting Date The Gwalior East Assembly Constituency Election 2023 will be held on November 17, as announced by the Election Commission on October 9. Gwalior East Constituency Madhya Pradesh Election 2023: Candidates …
Tax hike on diesel, jet fuel exports, domestic crude oil production; govt raises levy on windfall gains
The central government on Wednesday hiked the windfall profit tax on exports of diesel and Aviation Turbine Fuel (ATF). Besides, windfall gains tax on domestically-produced crude oil was also hiked in line with the hardening of global prices. The revised rates are effective today (1 September). At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre from Rs 7 per litre earlier, and on Aviation Turbine Fuel (ATF) exports to Rs 9 from Rs 2 per litre, according to a Ministry of Finance notification. The tax on domestically-produced …
Wealthy investors flock to AT1 bonds amid flurry of issuances
By Ashley Coutinho Wealthy investors and institutional investors are flocking to additional tier-I (AT1) bonds in search of higher yields amid a flurry of issuances in the past few weeks. Experts said that these issuances have taken off given the reduction in trading volatility seen in such bonds and cleaner balance sheets of banks. Such bonds provide a higher yield for investors and an alternate source of capital for issuers. “Perpetual bonds (AT1 bonds) are quite popular among investors in India. Many debt mutual funds across categories allocate to AT1 bonds. In fact, wealth managers also recommend perpetual bonds directly …
Petrol and Diesel Price Today, 8 Sep 2022: Fuel cost steady; Check rates in Delhi, Mumbai, Noida, other cities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 8 September 2022, keeping costs steady for more than three months now. Petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. The last country-wide change in price came on 21 May 2022, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on …
Syrma SGS Tech shares list at premium on BSE, NSE; gain 19% from IPO price, tops Rs 260 on stock debut day
Syrma SGS Technology shares listed on the stock exchanges today at a premium to the IPO price amid the positive market momentum. Shares of the company began trading on the NSE at Rs 260 per share, up 18.18% from the IPO price of Rs 209-220 apiece per share and on the BSE the stock debuted at Rs 262 apiece, rising 19.09 per cent. The Rs 840-crore IPO was subscribed by investors earlier this month and was fully subscribed by all categories. The company had a market capitalisation of Rs 4,617.20 crore on its market debut. This was the first company …
Global Markets: Interest rate and recession fears knock stocks and oil
Record-high inflation in the euro zone compounded recession fears stalking markets on Wednesday as central banks on both sides of the Atlantic prepared to raise borrowing costs for businesses and households again next month. Wall Street was set for a muted start as U.S. crude oil prices sank for a second day, trading below $90 a barrel on worries about demand in a struggling global economy, while untamed inflation knocked the euro and sent investors to the safe haven dollar. The STOXX share index of 600 companies dropped 0.5% to a six-week low, leaving it down about 14% for the …
US stocks: Wall Street ends August with a whimper on Fed worry
U.S. stocks ended the month with their fourth straight daily decline on Wednesday, cementing the weakest August performance in seven years as worries about aggressive interest rate hikes from the Federal Reserve persist. Adding to pressure were declines in the technology sector, and more specifically chipmakers, after soft forecasts from Seagate and HP Inc. The three main indexes suffered their biggest monthly percentage declines in August since 2015. After hitting a four-month high in mid-August, the S&P 500 has stumbled in recent weeks, dropping more than 8% through Wednesday’s close and falling through several closely watched technical support levels. Also …
Rupee likely to depreciate on strong dollar, elevated crude oil prices; USDINR pair to trade in this range
The Indian rupee is likely to depreciate further as the dollar would continue to remain strong. Elevated crude prices, interest rate hike fears, recession concerns are also expected to weigh on the domestic currency. USDINR spot price is expected to trade in a range of Rs 79 to Rs 80.50 in next couple of sessions, according to analysts. In the previous session, rupee declined against the US dollar tracking a strong dollar in overseas markets and losses in the domestic equities. At the interbank foreign exchange market, the local unit opened at 79.93 per dollar, and settled at 79.89, down …
Singtel entities offload 1.76 pc stake in Bharti Airtel for Rs 7,128 crore
Singtel entities have jointly offloaded a 1.76 per cent stake in Bharti Airtel for about Rs 7,128 crore, according to sources. Bharti Airtel promoter Bharti Telecom Ltd has bought a 1.63 per cent stake from Singtel entity Pastel Ltd for Rs 6,602 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Bharti Telecom purchased 9,62,34,427 shares, amounting to a 1.63 per cent stake in the company.The shares were acquired at an average price of Rs 686 apiece, taking the transaction value to Rs 6,601.68 crore. The shares of Bharti Airtel …
Nifty, Sensex tank 1% amid weak global cues; here’s what is fuelling sell-off today
Indian share market slumped on Monday as investors were spooked after the US Fed chair Jerome Powell though his Jackson Hole Symposium speech diminished the optimism that the central bank may turn around from its aggressive monetary policy amid declining commodity prices. He instead said that the era of interest rate increases is far from over. The BSE Sensex index tanked 1,467 pts to hit an intra-day low of 57,367, while the NSE Nifty 50 sank 393 points to touch the day’s low of 17,166. However, both the indices recouped some opening losses in late morning trade. Bloodbath on Dalal …