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IndiaTV Business: Google News Feed: Digest for July 21, 2023

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Piramal Pharma's Rs 1,050-cr rights issue gets Sebi's nod

Tuesday 18 July 2023 09:23 AM UTC+00
Piramal Pharma has received capital markets regulator Sebi's go-ahead to raise up to Rs 1,050 crore through rights issue of shares. The pharma firm, which filed draft papers with the regulator in March, obtained its observation letter on July 12, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.
CRCS Sahara Refund Portal: In order to provide a major relief to Sahara depositors, Cooperation Minister Amit Shah on Tuesday launched the 'CRCS-Sahara Refund Portal'. According to the top leader of Bharatiya Janata Party (BJP), the portal has been launched aiming at a refund of the hard-earned money of crores of depositors in four cooperative societies of Sahara Group in about 45 days. Taking to Twitter, Shah said, "After registration of the depositors on 'Sahara Refund Portal' and verification of documents, the amount will be directly transferred to their bank account."
Fast-Moving Consumer Goods (FMCG) major Mishtann Foods shares have soared more than 80 per cent in just three months, according to BSE. Based out of Ahmedabad, the leading consumer goods giant has reported consolidated profit after tax in the April-June quarter of financial year 2023-24 at Rs 68.91 crore.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
CRCS Sahara Refund Portal: In order to provide a major relief to Sahara depositors, Cooperation Minister Amit Shah on Tuesday launched the 'CRCS-Sahara Refund Portal'. According to the top leader of Bharatiya Janata Party (BJP), the portal has been launched aiming at a refund of the hard-earned money of crores of depositors in four cooperative societies of Sahara Group in about 45 days. Taking to Twitter, Shah said, "After registration of the depositors on 'Sahara Refund Portal' and verification of documents, the amount will be directly transferred to their bank account."
Fast-Moving Consumer Goods (FMCG) major Mishtann Foods shares have soared more than 80 per cent in just three months, according to BSE. Based out of Ahmedabad, the leading consumer goods giant has reported consolidated profit after tax in the April-June quarter of financial year 2023-24 at Rs 68.91 crore.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Fast-Moving Consumer Goods (FMCG) major Mishtann Foods shares have soared more than 80 per cent in just three months, according to BSE. Based out of Ahmedabad, the leading consumer goods giant has reported consolidated profit after tax in the April-June quarter of financial year 2023-24 at Rs 68.91 crore.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.
With the Modi government targeting to make India the global manufacturing hub, the foreign investment inflows continue to soar to new highs. Europe-based financial services group Societe Generale has picked up stake leading steel pipes maker Rama Steel Tubes.
In its latest report, the Asian Development Bank (ADB), on Wednesday maintained its prediction for India's economic growth at 6.4 per cent for the current fiscal year and 6.7 per cent for the next, noting that strong domestic demand will continue to support the region's recovery.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.
Union Minister of Information Technology Ashwini Vaishnaw has said that India's semiconductor mission is progressing at a very fast pace and step-by-step milestones are being achieved.

India bans export of non-basmati white rice

Thursday 20 July 2023 05:14 PM UTC+00
The central government today (July 20) amended the rice export norms putting the non-basmati white rice in prohibited category. The export policy relating to non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) has been revised from free to prohibited and it has come into force immediately, a Directorate General of Foreign Trade (DGFT) notification said.

Indian Americans appointed to EXIM US advisory councils

Wednesday 19 July 2023 03:22 AM UTC+00
The Export-Import Bank of the United States (EXIM), which is the authority send out credit organisation of the nation, named new individuals, including numerous Indian-Americans, to its four advisory subcommittees. According to news agency, the subcommittees - - Council on Climate, Council on China Competition, Council on Advancing Women in Business and Council on Small Business -- advise EXIM on its drives as the agency attempts to propel key Biden-Harris organisation priorities.
Surat, which is known for producing 90% of all diamonds in the world, now has a remarkable building to house its thriving industry. A recently opened building in the diamond hub of Surat, Gujarat, has outperformed the Pentagon as the world's largest office building, as per a report in CNN.
Equity benchmark indices Sensex and Nifty continued their upward movement on Wednesday, ending at fresh record high levels, driven by foreign fund inflows and optimism in the global markets.
Reliance Foundation Chairperson Nita Ambani marked her presence at an event in New York and praised India for having rich culture. Her foundation was supporting an art exhibition titled "The Tree and the Serpent" at The Metropolitan Museum of Art. During her address, she said that India's rich culture is attracting people from around the world. 
World Bank president Ajay Banga, the first-ever Indian-American to head the top global financial institution, on Wednesday, praised India's economy saying India doing lot of things to stay ahead during global slowdown. India has come out strong from challenges posed by Covid and it needs to sustain the momentum, he asserted.
A rights issue is a kind of corporate action. Publicly traded companies use it to raise capital from the public. When a rights issue is announced by a listed company, then it grants its existing shareholders the right to buy additional shares at a discount. However, there is no obligation for existing shareholders to participate in the process. A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. As a result, the total number of outstanding equity shares in the market is increased.
Stock markets: As investors went for profit-taking after a record-breaking run in domestic markets, equity benchmark indices declined in early trade on Thursday -- halting their five-day rally. The 30-share BSE Sensex fell 171.62 points to 66,925.82 after a tepid beginning. The NSE Nifty declined 48.6 points to 19,784.55.
Each individual in this nation should document income tax returns (ITR) after each monetary year. The last date for documenting ITR for Financial Year 2022–23 (FY 2023–24) is July 31, 2023, for those individuals who don't need a tax audit. It can lead to no refund if a wrong entry or mistake in mentioning the bank account number is made.
Union Minister of Information Technology Ashwini Vaishnaw has said that India's semiconductor mission is progressing at a very fast pace and step-by-step milestones are being achieved.

India bans export of non-basmati white rice

Thursday 20 July 2023 05:14 PM UTC+00
The central government today (July 20) amended the rice export norms putting the non-basmati white rice in prohibited category. The export policy relating to non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) has been revised from free to prohibited and it has come into force immediately, a Directorate General of Foreign Trade (DGFT) notification said.
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