MUMBAI: Fresh tariff-related jitters, weakness of the rupee and foreign fund selling pulled the sensex down by 733 points on Friday to 80,246 points, near its four-week low. As US President Donald Trump announced a fresh set of tariffs on imports of pharmaceutical products, most pharma stocks closed deep in the red. Nifty was down […]
Govt: India-US trade deal talks ‘constructive’
NEW DELHI: Government on Friday said that a team led by commerce and industry minister Piyush Goyal, which met United States Trade Representative Jamieson Greer and ambassador designate Sergio Gor, held “constructive” talks on several aspects of the proposed trade deal.“Both sides exchanged views on possible contours of the deal and it was decided to […]
‘H-1B impact on remittances to be under $5bn’
MUMBAI: The impact of restrictions on H-1B visas by the United States on remittances by overseas Indians would be within $5bn, according to a Barclays research report. The report also said that the rising trend of global capability centers (GCCs), which includes many US-headquartered firms, is here to stay and would strengthen further amid this […]
Mega issue: Tata Cap IPO to open Oct 6
MUMBAI: Tata Capital will open its initial public offering (IPO) on Oct 6, according to a stock exchange filing on Friday. The three-day issue will close on Oct 8, with the anchor investor bidding scheduled for Oct 3. Although the issue pricing has not been announced, it is expected to be the largest IPO in […]
TCS to honour all lateral hire offers this month
BENGALURU: TCS will honour all offers made to about 650 lateral hires whose onboarding was delayed for nearly three months. TOI has reviewed emails sent to candidates, asking them to make themselves available for the pre-joining onboarding process. The company has begun issuing onboarding mails, with some candidates receiving joining dates in Oct. Onboarding would […]
Deposit claims up to Rs 15L get easier for kin of deceased
MUMBAI: RBI has issued new rules on Friday that in the event of a bank customer’s death, deposits of up to Rs 15 lakh can be claimed by their nominees through a simplified process. For co-operative banks, the limit has been set at Rs 5 lakh.RBI’s new norms have standardised procedures across banks for deposits, […]
India maintains resilience amid trade uncertainties; tax reforms to aid growth: Finance ministry
NEW DELHI: A recent report by the Finance Ministry’s emphasises that government reforms will protect the economy from trade-related challenges, while advocating for continued vigilance against external risks and market fluctuations.The Monthly Economic Review highlights GST rationalisation as a crucial component of tax reforms, alongside corporate and personal income tax adjustments. The ministry suggests these […]
‘We are undervalued’: Govt disappointed with state-run oil firms’ valuations; considers partial ownership sale
Union minister for petroleum and natural gas, Hardeep Singh Puri on Friday express disappointment with the investor community, citing the low valuation given to state-owned oil markets.Puri said that the government might consider selling part ownership in oil companies in order to increase efficiency, though there is no plan to sell any holding as of […]
Silver at record high! Price hits Rs 1.41 lakh/kg as festival demand soars; gold up Rs 330/10g
Silver prices experienced a substantial surge of Rs 1,900, reaching a new record of Rs 1,41,900 per kilogram, while gold increased by Rs 330 in the national capital on Friday due to strong stockist demand and festival-related purchasing, as reported by the All India Sarafa Association, quoted by PTI.Silver, which had previously closed at Rs […]
Trump’s 100% pharma tariffs: How bad will India’s pharmaceutical exports be hit? ‘Low-cost generic model may offer cushion’
India exports a significant amount of pharmaceutical drugs to the US. (AI image) US President Donald Trump’s latest announcement of 100% tariffs imported branded or patented pharmaceutical products has sent shockwaves through pharma companies around the world.Trump announced on Truth Social that effective October 1, 2025, a 100% tariff will be applicable on imported branded […]