The initial public offerings (IPO) of Excellent Wires and Packaging opened for subscription on September 11. The small and medium enterprise (SME) IPO was subscribed over 1.27 times on the first day of bidding. Established in March 2021, Excellent Wires and Packaging Limited produces a diverse range of wires and wire ropes under the “Excellent” … Read more
Tech professional Samir (name changed) was shocked to receive a tax demand of about ₹1.98 lakh related to his income tax return (ITR) filed for the assessment year 2024-25. According to the intimation 143(1) sent to him, the tax deducted at source or TDS on his salary reported in his form 26AS is higher than … Read more
More details awaiU.S. crude oil climbed more than $2 a barrel on Wednesday, driven by fears of lengthy production shutdowns in the offshore oil patch, which Hurricane Francine was barreling through on Wednesday. Brent crude futures were up $1.87, or 2.70%, to $71.06 a barrel U.S. crude futures gained $2.05, or 3.12%, to $67.80. Oil … Read more
At its core, factor investing targets specific characteristics, or “factors,” in stocks that have been shown to deliver returns above what most diversified portfolios achieve. While rooted in rigorous academic research, it’s not just about chasing trends. Ajay, who’s been riding the momentum factor for the past two years and happily counting his gains, might … Read more
Shares of Varun Beverages surged 4 percent to ₹1,588 per share on September 11, in anticipation of its 2:5 stock split record date. As a result, the stock will begin trading on an ex-split basis starting tomorrow, September 12. The board of directors has established September 12 as the ‘record date,’ the deadline for determining … Read more
I’m planning to return to India after working abroad for 35 years. I have some FCNR deposits. I have been advised to convert them to RFC deposits upon my return. Like FCNR deposit interest, is RFC deposit interest also tax free?—Name withheld on request Returning Indians have the option to convert their FCNR (foreign currency … Read more
G42, a United Arab Emirates-based technology holding group, has started discussions with startups and tech companies in India to build generative AI solutions based on its Hindi large language model (LLM) NANDA, Manu Jain, CEO of its India arm, said in an exclusive interaction with Mint. With this foundational model, Hindi language speakers can harness the … Read more
US Fed rate cut: The outcome of the September policy meeting of the Federal Open Market Committee (FOMC) could be the most significant catalyst for global markets—or perhaps not. Although no one knows what the US Federal Reserve will decide about policy rates on September 17-18, there is still prevailing certainty that the rates will … Read more
The mutual fund industry saw a notable decrease (43 per cent) in net inflows for the month of August, to ₹1.08 lakh crore against ₹1.89 lakh crore in July. This decline was driven primarily by a significant drop in inflows to the tune of 62 per cebt into debt mutual funds, reveals the AMFI (Association … Read more
International crude oil prices crashed to a 33-month low (near a three-year low) on Tuesday, September 10, with the benchmark Brent crude futures sinking below $70 a barrel for the first time since December 2021. This came shortly after the Organisation of Petroleum Exporting Countries and its allies (OPEC+) slashed its global oil demand forecast … Read more