In a robust show of strength, a select group of stocks from the BSE500 index have been delivering impressive performance, both in terms of fundamentals and market returns. As many as 24 companies have managed to post over 10% growth in both sales and profits, while consistently maintaining a solid profit margin above 10% over […]
Sensex, Nifty50 end little changed as IT, consumer selloff offsets GST 2.0 led rally
Indian benchmark indices Sensex and Nifty ended flat on Friday, with profit booking in consumer and IT shares outweighing gains in autos after sweeping tax cuts were proposed under the “GST 2.0” overhaul. The S&P BSE Sensex slipped 7.25 points, or 0.01%, to close at 80,710.76. The NSE Nifty 50 edged up 6.70 points, or […]
Lower GST will boost India’s economy higher, says FM Nirmala Sitharaman
The new dual-slab goods and services tax (GST) structure adopts a next-generation approach to dealing with indirect taxation and will boost the economy significantly, Union finance minister Nirmala Sitharaman said. The government is preparing a package for US tariff-affected export sectors and the next wave of policy changes is being worked on at “relentless” pace, […]
Bank of Baroda RCom loan: BoB flags RCom loan accounts as fraud amid allegations of fund misuse
Mumbai: Bank of Baroda (BoB) has become the third public sector bank to declare Reliance Communications‘ (RCom) loan accounts and its erstwhile promoter Anil Ambani as fraud, citing misutilisation of borrowed funds, diversion of loan proceeds, unauthorised related-party transactions, and improper use of inter-corporate deposits. BoB’s total fund- and non-fund-based exposure to RCom stood at […]
Indian markets: Will global cues and Fed rate cut hopes fuel a market recovery next week?
Mumbai: Equity indices ended almost flat on Friday in choppy trading as weakness in information technology stocks hit by US tariff concerns offset gains in auto shares driven by optimism around GST cuts. For the week, the stock measures notched up 1% gains, rebounding from the previous week’s losses NSE’s Nifty gained 6.7 points to […]
global financial messaging: Will Indian banks meet the SWIFT ISO 20022 implementation deadline?
Mumbai: Following a concerted push from the Ministry of Finance and the Reserve Bank of India (RBI), local banks are stepping up efforts to fully implement SWIFT’s ISO 20022 messaging standard by the November 22 deadline. Failure to meet the deadline exposes lenders to payment disruption risks. According to sources, Indian banks are on track […]
Fed’s Goolsbee says he’s undecided on Sept rate cut, defends Fed independence
Federal Reserve Bank of Chicago President Austan Goolsbee, speaking Friday after data showed further job-market weakening, said he is still undecided whether September is the right timing for an interest rate cut, while also defending the need to keep the U.S. central bank insulated from short-term political pressure. In an interview on Bloomberg TV, Goolsbee […]
US Treasury Secretary Bessent calls for big changes at Fed
U.S. Treasury Secretary Scott Bessent on Friday called for renewed scrutiny of the Federal Reserve, including its power to set interest rates, as the Trump administration intensifies its efforts to exert control over a central bank whose insulation from short-term political pressures is widely seen as key to effective control of inflation. “There must also […]
Trump’s short list for Fed: Hassett, Warsh and Waller
U.S. President Donald Trump‘s short list of candidates to succeed Jerome Powell as chair of the Federal Reserve now includes his aide Kevin Hassett, former Fed Governor Kevin Warsh and current Fed Governor Christopher Waller. Trump told reporters at the White House that the three men were the finalists for appointments to the Fed, adding […]
Wall Street Week Ahead-Inflation data looms for markets as stocks hover at records
A spate of inflation data confronts U.S. stock investors in the coming week as markets grapple with fresh uncertainty over tariffs and government bond yields, while equities hover at lofty valuations. The benchmark S&P 500 index closed at a record high on Thursday despite an uneven start to September, which has been the worst month […]