Jio Financial Services Ltd (JFSL) and its US-based joint venture partner, BlackRock, have invested ₹117 crore in their mutual fund company, Jio BlackRock Asset Management Private Limited. Each partner subscribed to 5.85 crore equity shares at ₹10 each, resulting in the total investment. SEBI Approval for Mutual Fund Operations Jio BlackRock Asset Management has submitted …
Kaynes Technology India’s board has approved a plan to raise up to ₹16,000 million through equity shares or other eligible securities via public/private offerings, pending shareholder and regulatory approval. Details of the Board Meeting In a meeting held on January 22, 2025, Kaynes Technology India Limited’s Board of Directors approved a plan to raise funds …
Biocon’s share price rose by 2.61% to ₹398 per share on January 23, 2025, following the company’s announcement that its board will consider raising funds through commercial papers (CPs) or other private placement methods. The board meeting is scheduled for January 27, 2025. Fundraising Plans The company stated that it is exploring the issuance of …
On January 23, 2025, Indian Renewable Energy Development Agency (IREDA) announced that it will raise ₹5,000 crore through a Qualified Institutional Placement (QIP). The funds will be raised in 1 or more tranches. The company’s board approved this plan during its meeting. Conditions for the Fundraise IREDA has specified that the President of India’s shareholding, …
The Board of Directors of the Bank of India approved the issuance of long-term infrastructure bonds worth ₹5,000 crore. The approval was granted during a board meeting held on January 23, 2025. According to the bank’s press release, the bonds will be issued for 10 years. Share Performance On January 23, 2025, Bank Of India’s share …
The drone industry in India is rapidly growing, offering exciting opportunities for investors. Drones are transforming sectors like agriculture, logistics, defence, and entertainment, opening new possibilities for expansion. With rising demand for new drone applications and government support, the market is set for significant growth. In this blog, we will explore the top drone stocks …
Tata Steel reported a 36.37% year-on-year (YoY) drop in consolidated net profit to ₹326.64 crore for Q3FY25, down from ₹513.37 crore in the same period last year. Consolidated revenue declined by 3.01% YoY to ₹53,648.30 crore. Sequentially, revenue saw a slight dip of 0.48%, while net profit plunged by 60.81%. Key Challenges Impacting Performance CEO …
Piramal Enterprises, a leading NBFC, posted a net profit of ₹39 crore for Q3FY25, a significant turnaround from a ₹2,378 crore loss in the same quarter last year. The previous year’s loss was due to a one-time provision of ₹3,540 crore on its Alternate Investment Fund (AIF) book following an RBI directive. This quarter, a …
Bajaj Housing Finance Ltd reported a 25% increase in net profit to ₹548.02 crore for Q3FY25, compared to ₹436.97 crore in the same period last year. The company’s net interest income (NII) grew by 25.8% YoY to ₹2,321.9 crore from ₹1,845.47 crore. Rising Expenses and Provisions Total expenses rose 26% to ₹1,736 crore during the …
The standard deduction is a fixed amount that salaried individuals can subtract from their taxable income without needing to provide any documentation or proof of expenses. First introduced in 1974 under Section 16 of the Income Tax Act, this deduction has undergone several changes over the years. History of Standard Deduction Introduction in 1974 The …
