Latest news with #Rupees
Indian Express
16 hours ago
- Politics
- Indian Express
Mamata Banerjee announces hike in grant for Durga Puja committees to Rs 1.10 Lakh this year, over Rs 500 crore to be spent from exchequer
West Bengal Chief Minister Mamata Banerjee on Thursday announced an allowance of Rupees 1.1 lakhs for each Durga Puja committee of the state. The government also spent more than Rupees 350 crores from the exchequer to this allowance last year. According to the state administration sources, the total number of enlisted Durga Puja committees in West Bengal is more than 45,000 and the state government will have to pay more than Rupees 500 crores for this allowance from the exchequer. Addressing a meeting of Durga Puja organisers, Banerjee said the decision aims to support the committees in organising Bengal's biggest festival and to acknowledge their contribution to cultural and community life. 'The government stands by the people. Durga Puja is not just a religious celebration; it is a cultural festival that unites everyone. We want to ensure the organisers can manage expenses without stress,' Banerjee said. The chief minister also announced, that like other years, Durga Puja Carnival will be held on October 5. Before that, on October 2, 3 and 4, immersion of the Durga idol should be completed. Last year, the Mamata Banerjee government gave Rupees 85,000 to each Puja committee and the amount was increased from 75,000 to 85,000. 'This year also, we got nothing in the budget (Central Budget). We are a poor state. However, we have decided to increase the allowance to 85 thousand. Next year will make it one lakh,' the chief minister said. However, this year she increased the allowance by Rupees 10,000 more, a cost of Rupees 50 crore more for the exchequer. The Chief Minister on Thursday also announced that like other years, this year also the Puja committees will have to pay nothing for any licenses including for a fire license. Last year, the puja committees got 75 per cent discount on electricity bill. This year, CM Banerjee said, electricity will be discounted to 80 per cent. A senior official of the Finance Department said, 'This is the last Durga Puja before the scheduled Assembly election in 2026. So, the ruling party wanted to attract Puja committees, to give them a hike of 25,000 from last year.' The allowance was Rupees 50,000 in 2021, which increased by Rupees 10,000 each in 2022 and 2023. Last year in 2024, it increased Rupees 15,000 and this year it increased Rupees 25,000. The Chief Minister also highlighted the hardships faced by Bengali-speaking individuals in various states across the country. '…Some of our people facing deadly torture in different states for speaking Bengali. My request to all Puja committees is that they should provide new garments to those who faced atrocities in different states for speaking in Bengali,' CM Banerjee said. Atri Mitra is a Special Correspondent of The Indian Express with more than 20 years of experience in reporting from West Bengal, Bihar and the North-East. He has been covering administration and political news for more than ten years and has a keen interest in political development in West Bengal. Atri holds a Master degree in Economics from Rabindrabharati University and Bachelor's degree from Calcutta University. He is also an alumnus of St. Xavier's, Kolkata and Ramakrishna Mission Asrama, Narendrapur. He started his career with leading vernacular daily the Anandabazar Patrika, and worked there for more than fifteen years. He worked as Bihar correspondent for more than three years for Anandabazar Patrika. He covered the 2009 Lok Sabha election and 2010 assembly elections. He also worked with News18-Bangla and covered the Bihar Lok Sabha election in 2019. ... Read More
Economic Times
2 days ago
- Business
- Economic Times
Stock Market LIVE Updates: Sensex gains over 200 pts, Nifty above 24,850; L&T leads gainers
Sensex Today | Stock Market LIVE Updates: On the sectoral front, Nifty FMCG, Media, Metal, and Pharma traded slightly higher. In broader markets, Nifty Midcap 100 slipped, while Smallcap 100 edged up. Uncertainty over India's interim trade deal with the U.S. ahead of President Trump's August 1 deadline weighed on sentiment. India is bracing for higher U.S. tariffs of 20–25% on some exports, government sources told Reuters. The Indian market closed higher in the previous session, breaking a three-day losing streak, as value buying in heavyweight stocks like Reliance Industries and HDFC Bank helped lift investor sentiment. Sensex Today | Stock Market LIVE Updates: Indian equity benchmark indices, Sensex and Nifty traded marginally higher on Wednesday, supported by strong earnings from Larsen & Toubro, boosting investor sentiment. However, upside was limited amid caution ahead of the U.S. Fed's policy decision and lingering uncertainty over the delayed India-U.S. trade agreement. Sensex Today | Stock Market LIVE Updates: Sensex gains over 200 pts Sensex Today | Stock Market LIVE Updates: BSE market statistics Sensex Today | Stock Market LIVE Updates: Bank of India shares jump 3% after Q1 net profit surges 32% YoY Stock Market LIVE Updates: Stocks to buy in 2025 for long term: Lodha Developers, Gravita among 5 stocks that could give 10-50% return We have collated a list of recommendations from top brokerage firms from ETNow and other sources. Brokerages remain bullish on select stocks across sectors, highlighting strong fundamentals and potential for meaningful upside for the next 12 have collated a list of recommendations from top brokerage firms from ETNow and other sources. Here's the list Sensex Today | Stock Market LIVE Updates: Top movers so far Sensex Today | Stock Market LIVE Updates: Last day to buy BPCL, Coforge, other stocks to qualify for dividends ahead of record date tomorrow Balkrishna Industries– Rs 4 per share Carborundum Universal– Rs 2.5 per share Chembond Material Technologies– Rs 1.75 per share Cheviot Company– Rs 5 per share Godrej Agrovet– Rs 11 per share Click here to know more Apart from BPCL and Coforge, several other companies have also announced dividends and will trade ex-dividend starting tomorrow. These include: Sensex Today | Stock Market LIVE Updates: Varun Beverages shares rally over 4% after Q1 profit jumps 81% sequentially IPO Updates | NSDL raises Rs 1,201 crore from anchor investors ahead of IPO National Securities Depository Limited garnered Rupees 1,201 crore from anchor investors before its initial public offering. The IPO opens for subscription today. Life Insurance Corporation of India is the largest anchor investor. Other global and domestic institutions also participated. The IPO is entirely an offer for sale. NSDL reported revenue of Rupees 1,420 crore in fiscal year 2025. Read more Sensex Today | Stock Market LIVE Updates: MCX to review Q1 results and consider share split on August 1 MCX will hold a board meeting on August 1 to review Q1FY26 results and consider a share split proposal. Ahead of the meeting, it launched Cardamom Futures contracts to aid farmers. MCX holds a 98% share in India's commodity derivatives market. Read more Sensex Today | Stock Market LIVE Updates: Top gainers and losers in the early trade Sensex Today | Stock Market LIVE Updates: Tata Motors set to acquire Italian truck maker Iveco for $4.5 billion in its biggest deal to date Mumbai: Tata Motors is all set to buy Italian truck maker Iveco from its principal shareholder, the Agnelli family, for $4.5 billion (3.9 billion, making it the Tata Group's second-largest acquisition after Corus and the largest ever for the automobile major, people aware of the discussions told ET. Read more Sensex Today | Stock Market LIVE Updates: Nifty sectoral indices FOREX LIVE Updates: Indian central bank likely selling dollar to cap rupee's losses, traders say The Indian central bank likely stepped in to support the rupee on Wednesday, five traders told Reuters, as worries over higher U.S. tariff rates on Indian exports pushed the currency to an over four-month low. Indian rupee falls 17 paise to 87.08 against US dollar in early trade. (Source - Reuters) (Source - Reuters) Sensex Today | Stock Market LIVE Updates: Positive Breakout- These 6 stocks close cross above their 200 DMA In the Nifty500 pack, six stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 29, according to technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Read more Sensex Today | Stock Market LIVE Updates: RIL plans to sell 5% Jio Telecom unit in a potential $6 billion listing: Report Reliance Industries Proposing To Sell Just 5% Of Jio Telecom Unit In A Potential Listing That May Raise More Than $6 Billion- Bloomberg News Sensex Today | Stock Market LIVE Updates: L&T shares rise over 4% as the company reported a 30% YoY jump in cons net profit for the June quarter Sensex Today | Stock Market LIVE Updates: Dilip Buildcon shares zoom 7% after Q1 profit surges 94% YoY to Rs 271 crore Sensex Today | Stock Market LIVE Updates: Bank of India shares jump 3% after Q1 net profit surges 32% YoY Sensex Today | Stock Market LIVE Update | Ola Electric, Tata Motors among top movers in morning trade Sensex Today | Stock Market LIVE Updates: Market timing has little impact on SIP returns: Motilal Oswal MF study A study by Motilal Oswal Mutual Fund offers a key takeaway: SIP returns tend to be nearly identical, regardless of whether investments begin at market highs or lows. The findings show that investors starting SIPs during periods of high or low market valuations ultimately earned similar long-term returns. Pratik Oswal emphasizes that timing the market shouldn't be a concern when it comes to SIPs. Opening Bell: Sensex rises over 50 pts, Nifty above 24,800; Airtel, BEL gain 1% each Sensex Today | Stock Market LIVE Updates: India's top nine private banks report 2.7% profit growth in Q1 amid economic challenges India's leading private sector banks reported a slowdown in profit growth for the June quarter, with combined net profit rising 2.7% year-on-year to ₹43,641 crore. The muted performance was attributed to sluggish credit and deposit growth, which weighed on core earnings. However, treasury gains provided some cushion to profitability. Banks like Axis Bank and Kotak Mahindra Bank posted relatively subdued results during the period. Sensex Today | Stock Market LIVE Updates: Is Bajaj Finance's decline a sign of looming crisis in India's NBFC sector? The decline in Bajaj Finance's stock underscores rising stress in sectors catered to by NBFCs, such as microfinance and MSMEs. While banking system liquidity has improved, asset quality remains under pressure amid increasing NPAs. Notably, even typically stable segments like loans to doctors are showing signs of strain. Analysts are now looking to the upcoming festive season, hoping that a boost in consumer spending will ease pressure on loan repayments and support asset quality for NBFCs. Sensex Today | Stock Market LIVE Updates: Why investors are turning to arbitrage funds amid high stock valuations? Arbitrage funds are drawing increased interest from investors looking for equity exposure without the risk of steep valuations. With assets under management witnessing strong growth, these funds exploit price discrepancies between the cash and futures markets to maintain a market-neutral stance. Their tax efficiency and relatively low risk have made them popular among HNIs, family offices, and retail investors. As a result, arbitrage funds have delivered competitive returns while keeping volatility in check. Sensex Today | Stock Market LIVE Updates: Can M&B Engineering's IPO deliver strong returns for investors? M&B Engineering is set to raise ₹650 crore through its IPO, comprising a fresh issue and an offer for sale, to support expansion plans and reduce debt. Known for its AISC-certified pre-engineered building (PEB) facility and strong profit margins, the company will see a reduction in promoter shareholding following the listing. Sensex Today | Stock Market LIVE Updates: NSDL offers long-term play in a growing capital market National Securities Depository (NSDL) is planning to raise funds through an offer for sale (OFS). The depository's IPO is expected to be valued lower than that of its peer, Central Depository Services (CDSL). NSDL primarily serves institutional clients and has seen steady growth in total income and net profit between FY23 and FY25. The offering comes amid rising demat account penetration in India, reflecting strong annual growth trends. Sensex Today | Stock Market LIVE Updates: Jio Financial board to discuss fundraise plans today Jio Financial Services is exploring multiple fundraising options, including equity shares, warrants, or a qualified institutional placement (QIP), following a board meeting on Wednesday. The promoters, including the Ambani family, are expected to raise their stake to 51% through a preferential issue priced at ₹318 per share, potentially bringing in ₹8,000 crore. Sensex Today | Stock Market LIVE Updates: Oil steady after big gains on Trump's Russia ultimatum Oil prices edged higher in early Wednesday trading, extending gains of over 3% from the previous session. The rally was driven by renewed concerns over potential supply shortages after U.S. President Donald Trump issued a shortened deadline to Moscow to end the war in Ukraine. Sensex Today | Stock Market LIVE Updates: Euro hovers near one-month lows after trade deal, focus switches to Fed The euro held near its one-month low on Wednesday, recovering slightly after sharp losses earlier in the week. Investors weighed the implications of the U.S.-EU trade pact and awaited key policy decisions from the Federal Reserve and the Bank of Japan. Sensex Today | Stock Market LIVE Updates: US Equities close lower as earnings weigh; Fed statement on tap U.S. stocks ended lower on Tuesday, with the S&P 500 and Nasdaq retreating from record highs following weaker-than-expected corporate earnings. Disappointing results from UnitedHealth and Boeing weighed on the Dow. Investors remain cautious ahead of the Federal Reserve's policy statement, as mixed economic data adds to market uncertainty. Sensex Today | Stock Market LIVE Updates: Gold holds steady ahead of Fed policy statement Gold prices held steady as investors looked ahead to the Federal Reserve's policy statement for clues on the timing of potential rate cuts. Attention also stayed on U.S.-China trade negotiations ahead of the August 1 deadline, with officials pushing for an extension of the tariff truce. Meanwhile, market participants are closely watching upcoming U.S. economic data, including GDP figures. Sensex Today | Stock Market LIVE Updates: Wegovy maker Novo's profit warning triggers $70 billion share rout Novo Nordisk's market value plunged by $70 billion after issuing a profit warning and announcing Maziar Mike Doustdar as its new CEO. The company cut its 2025 sales growth forecast, citing weaker-than-expected demand in the U.S. market, especially for its key drugs Wegovy and Ozempic. Doustdar now faces the pressing task of revitalizing the company's performance in the U.S. market. Asian Market LIVE Updates: Asian shares mixed at open before Fed's meeting Asian equities traded mixed as investors remained cautious ahead of the Federal Reserve's policy decision, while limited progress in US-China trade talks failed to lift market sentiment. Sensex Today | Stock Market LIVE Updates: Stocks in news: IndiGo, Hyundai, L&T, JSW Steel, NTPC Shares of Power Grid, IndiGo, Tata Steel, Hyundai, and PNB will be in the spotlight as these companies are set to announce their first-quarter earnings. GIFT Nifty LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded lower by 17 points, or 0.07 per cent, at 24,822.50, signaling that Dalal Street was headed for muted start on Wednesday. Sensex Today | Stock Market LIVE Updates: Ahead of Market: 10 things that will decide D-Street action on Wednesday Indian markets bounced back on Tuesday after a three-day losing streak, supported by value buying in heavyweights like Reliance and HDFC Bank. While overall sentiment remained cautious amid FPI outflows and uncertainty over the US trade deal, most sectors closed in the green, with metals and pharma leading the gains. Read more Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Tuesday Indian equities broke a three-day losing streak on Tuesday, as benchmark indices gained ground amid value buying in blue-chip stocks like Reliance Industries and HDFC Bank. This helped ease investor worries over continued foreign fund outflows and uncertainty surrounding a potential trade deal with the United States. Read more
Economic Times
2 days ago
- Business
- Economic Times
NSDL raises Rs 1,201 crore from anchor investors ahead of IPO
National Securities Depository Limited garnered Rupees 1,201 crore from anchor investors before its initial public offering. The IPO opens for subscription today. Life Insurance Corporation of India is the largest anchor investor. Other global and domestic institutions also participated. The IPO is entirely an offer for sale. NSDL reported revenue of Rupees 1,420 crore in fiscal year 2025. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NSDL Details and Grey Market Sentiment NSDL IPO: Financials and Valuation Should You Subscribe? National Securities Depository (NSDL) has raised Rs 1,201 crore from anchor investors ahead of its initial public offering (IPO), which opens for subscription today, July company allocated 1.5 crore equity shares to anchor investors at the upper end of the price band, which is set between Rs 760 and Rs 800 per share, according to data disclosed to the stock exchanges. Life Insurance Corporation of India (LIC) emerged as the largest anchor, picking up 12% of the total anchor book. LIC invested Rs 144 crore and was allotted nearly 18 lakh global and domestic institutions, Small Cap World Fund invested Rs 100 crore, accounting for 8.33% of the anchor allocation. Fidelity Funds – India Focus Funds picked up 5.41% with a Rs 65 crore investment, followed by Ashoka White Oak India Opportunities Fund (4.5%; Rs 54.1 crore), SBI Banking undefined Rs 48.59 crore), and Nippon Life India Trustee (3.66%; Rs 44 crore).Other notable investors include the Abu Dhabi Investment Authority (ADIA) – Monsoon and Amundi Funds New Silk Road, who together invested Rs 14 crore, amounting to 1.17% of the total mutual funds were also prominent participants. Around 53 lakh shares, or 35.27% of the anchor portion, were allotted to 12 domestic mutual funds across 22 schemes. These included SBI MF, ICICI MF, HDFC MF, Aditya Birla Sun Life, and JM Financial NSDL is India's first and largest securities depository. The entire issue is an offer for sale (OFS), which means the company will not receive any proceeds from the IPO is entirely an offer for sale (OFS), meaning NSDL will not receive any proceeds. The grey market premium (GMP) stood at around 16% ahead of the issue opening, indicating moderate investor reported a revenue of Rs 1,420 crore in FY25, marking a 12% increase year-on-year. Profit after tax rose 25% to Rs 343 crore. The company posted an EBITDA margin of 34.71%, reflecting strong operational has also diversified through its subsidiaries — NSDL Database Management (NDML) and NSDL Payments Bank — expanding into e-governance, regulatory technology, and digital the upper end of the price band, the stock is valued at a P/E of 46.62x and P/B of 7.98x based on FY25 earnings. This compares with peer Central Depository Services (India) Ltd (CDSL), which trades at a higher P/E of 60.43x and P/B of 18.08x. However, NSDL has a larger share of demat assets and a broader service have largely recommended a 'Subscribe' rating to the NSDL IPO for long-term investors. Anand Rathi and Canara Bank Securities cite NSDL's near-monopoly scale in the depository ecosystem, healthy financials, wide product coverage, and strategic relevance to India's capital market infrastructure as key positives.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
3 days ago
- Business
- Mint
Kellton Tech Solutions share price skyrockets despite choppy trend in stock market today
Kellton Tech Solutions share price rallied as much as 6.22 per cent to ₹ 28.19 in Tuesday's trading session after the company announced that it has successfully implemented stock split. The stock opened at ₹ 28.22 apiece in early morning session on July 29, as compared to ₹ 26.54 on Monday. The multibagger stock has given significant returns to its long-term investors by surging over 575.12 per cent in five years. In an exchange filing dated July 29, the company further informed that the e face value of the equity shares has been revised from ₹ 5 to ₹ 1 each. ' The Sub-division (Split) of the Company's equity shares has now been fully implemented and the effect of the split is already reflected from Monday, July 28, 2025, for both existing and prospective shareholders. Please also note that, pursuant to the split - The face value of the equity shares has been revised from ₹ 5 (Rupees Five) each to ₹ 1 (Rupee One) each,' the company said in the filing on Tuesday. Kellton Tech Solutions announced a stock split in a 1:5 ratio, reducing the face value of each share from ₹ 5 to ₹ 1. The company set July 25, 2025, as the record date to determine eligible shareholders for this share split. '….the company has fixed Friday, July 25, 2025, as the 'Record Date' for determining entitlement of equity shareholders for the purpose of Sub-division(Split) of each equity share of Rs. 5/- (Rupees five only) each, fully paid-up into 5 (five) equity shares of Re. 1/- (Rupee one only) each, fully paid-up,' said the company in an exchange filing. Stock splits are corporate actions aimed at improving liquidity and encouraging greater participation from retail investors by reducing the price of individual shares, without altering the company's total market capitalization. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
3 days ago
- Business
- Business Standard
JK Paper rises as Q1 PAT jumps 7% QoQ to Rs 81 cr
JK Paper rose 2.34% to Rs 359.35 after its consolidated net profit jumped 6.60% to Rs 81.23 crore in Q1 FY26, compared to Rs 76.20 crore posted in Q4 FY25. However, revenue from operations declined by 0.90% quarter-on-quarter (QoQ) to Rs 1,674.16 crore in the quarter ended 30 June 2025. On a year-on-year (YoY) basis, net profit fell 41.86%, while revenue from operations shed 2.30% in Q1 FY26. In Q1 FY26, profit before tax fell by 40.03% year-on-year to Rs 116 crore, as compared to the same quarter in FY25. Total expenses rose 2.19% year on year to Rs 1,583.23 crore in the quarter ended 30 June 2025. The cost of material consumed stood at Rs 149.58 (up 10.37%YoY), finance cost was at Rs 67.14 crore (up 88.64%) during the period under review. Revenue from paper and packaging segment declined 3.91% to Rs 1,641.82 crore in Q1 FY26 as against Rs 1,708.73 crore in Q1 FY25. Revenue from others segment jumped 192.13% to Rs 34.91 crore in Q1 FY26 from Rs 11.95 crore in Q1 FY25. Shri Harsh Pati Singhania, said, the companys core business in paper and paper Board continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices. Despite this, JK Paper improved its profits on a sequential basis. The board of directors of JK Paper (JKPL) has approved the acquisition of a majority stake in Borkar Packaging Private (BPPL). Commenting on the acquisition, Shri Harsh Pati Singhania, chairman & managing director, said, The Packaging Conversion business is amongst the fastest growing segments in the Indian Paper and Packaging industry driven by growth in end use industries. The acquisition of BPPL is in line with the long term strategic objective of the Company and gives us an opportunity to offer combined solution to customers with respect to secondary and tertiary packaging. BPPLs customers, employees, vendors and partners will benefit from JK Papers strong knowledge of manufacturing and its high standards in operational excellence, financial management and corporate governance. With this acquisition, JKPL will further strengthen its top leadership position in the corrugated packaging segment and emerge amongst the top three players in the Folding Cartons space. BPPL is engaged in the manufacturing of packaging products such as folding cartons, corrugated boxes, and labels. The company operates seven plants across India and reported revenue of Rs 393.20 crore for the financial year 202324. Furthermore, the companys board approved the proposed issuance of redeemable non-convertible debentures (NCDs) of up to Rs 500 crore (Rupees five hundred crore only), in one or more tranches or series. The funds raised will be utilized for routine capital expenditure, long-term working capital requirements, and general corporate purposes, in compliance with applicable regulations and guidelines. JK Paper is the leading player in office papers, coated papers and Packaging boards. It is one of the most respected paper companies today.
