indian capital market
KKR invests $400 million in Serentica Renewables
Serentica enables transition to renewable energy round-the-clock by signing long-term power purchase agreements (PPA) with companies.Currently, Serentica has entered into three long-term PPAs and is in the process of developing about 1,500 MW of solar and wind power projects across various states, including Karnataka, Rajasthan and Maharashtra.
IRDAI allows foreign reinsurance branches, Lloyds India to repatriate excess capital
The Indian insurance regulator has allowed repatriation of excess capital by FRBs and Lloyd's India with prior permission and subject to the following provisions. The request to repatriate the assigned capital shall be submitted by the foreign reinsurer, who is engaged in reinsurance business through a branch established in India, justifying the reasons for such request.
India's power demand set to double by 2030: R.K. Singh
"Capital investments would also be required for modernising the power systems and promoting new technologies like green hydrogen, storage, offshore wind etc. to help India achieve its energy transition trajectory. To this end, it is absolutely imperative that the DISCOMS across the country follow prudent and sustainable financial practices to ensure that they are viable," R.K. Singh said.
SBI hits Rs 5 lakh crore market capitalisation
With this market capitalisation, SBI stood on the seventh position in the market capitalisation ranking. SBI has become the third lender in the country to cross the market cap of Rs 5 lakh crore. HDFC Bank held first rank in this list, which was followed by ICICI Bank. At 1.10 p.m., SBI shares were up Rs 14.75 or 2.64 per cent at Rs 573.00.
Cap on surcharge of long-term capital gains provides relief to HNIs
Such surcharge is already fixed at 15 per cent for capital gains arising from on-market sale of equity shares and certain other securities, capital gains arising from any other capital asset are subject to a surcharge as high as 37 pert cent, depending on the total income of the taxpayer.
Govt capital spending at 18-year high
"We expect F23 growth at 8.4%. In view of an improving growth trend, we expect the RBI to start policy normalization with a reverse repo rate hike in the February policy review, followed by repo rate hikes from the April policy review," it said. "We are looking at a new capex cycle and, hence, a new profit cycle and an exit from the RBI. That augurs well for our overweight sectors: Financials, Discretionary Consumption and Industrials," Morgan Stanley said.
Large firms have become larger at the cost of smaller firms: HSBC
Those earning their livelihoods from small and informal firms have suffered. This is a problem because 80 per cent of India's labour force is employed in the informal sector, and the roughly half of them who are in the non-agricultural sector have borne the economic brunt of the pandemic, the report added.
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