Business

[ad_1] NEW DELHI: Adani Ports and Special Economic Zone (APSEZ), India's largest private port operator, is set to re-enter the domestic bond market after a 17-month break, with plans to launch its biggest-ever rupee-denominated debt issue, according to three merchant bankers on Wednesday.The company aims to secure up to 50 billion rupees ($583.57 million) through 15-year bonds, with bids invited from bankers and investors on Thursday, bankers who requested anonymity told Reuters.This issuance would mark both the company's largest bond offering and its longest tenure, surpassing their previous 10-year bond arrangements.This represents the company's first venture into the local bond market since early January 2024, when it raised 2.50 billion rupees each through five-year and 10-year bonds at 8.70% and 8.80% coupons respectively.The bankers, speaking anonymously indicated that the company is likely to offer approximately a 7.75% coupon rate.Earlier on […]

[ad_1] India-US trade deal: The focus remains on securing an interim trade arrangement before finalising the first phase of the bilateral trade agreement. (AI image) India-US trade deal: A bilateral trade agreement between US President Donald Trump-led US and PM Narendra Modi-led India could be sealed as early as the end of June. A delegation of US officials is scheduled to visit India in June for trade discussions.The focus remains on securing an interim trade arrangement before finalising the first phase of the bilateral trade agreement (BTA), particularly as the USA's 26 per cent reciprocal tariff on India remains suspended until July 9 this year. This tariff was implemented by the US on April 2. Currently, Indian exports continue to face America's standard 10 per cent baseline tariff.Sources told PTI that a potential interim trade agreement could be reached by […]

[ad_1] The government has established a target of Rs 30,000-crore in defence exports for this fiscal year. (Image of K9 Vajra) Larsen & Toubro (L&T) plans to expand its defence business into a multi-billion dollar enterprise, significantly higher than Rs 6,185 crore (approximately $726 million at current exchange rates) in orders from the previous financial year, motivated by governmental initiatives to enhance military capabilities.The government has established a target of Rs 30,000-crore in defence exports for this fiscal year, with plans to reach Rs 50,000 crore by FY29. Additionally, the government seeks to achieve domestic defence production worth Rs 1.6 lakh crore in FY26, with projections to reach Rs 3 lakh crore by FY29.The company produces various military equipment including warships, patrol vessels, armoured vehicles, artillery guns and missile systems.In conversation with ET, L&T president and chief financial officer R […]

[ad_1] NEW DELHI: TCS, India's largest IT services firm, sees generative AI as more than just a tech trend, calling it a "civilisational shift" that will transform every industry.Tata Sons Chairman N Chandrasekaran said the $30 billion company plans to build a "large pool of AI agents" to work alongside humans, creating a "human+AI" model for delivering future solutions."Achieving near-human reasoning capabilities, GenAI is not just another tech cycle, it is a civilisational shift," Chandrasekaran wrote to the company's shareholders in the annual report released on Tuesday."Looking ahead, we plan four distinct progressions. First, we establish a large pool of AI agents working alongside our human workforce. Second, we deliver solutions through a human+AI model," he said further outlining the future plans.TCS has actively incorporated AI across its service offerings and developed intelligent agent solutions throughout its operational chain, according […]

[ad_1] Gold pared some of the gains witnessed last week. (AI image) Gold price prediction today: Gold rate has been swinging in the last few weeks and has recently pared gains. Global uncertainties make gold a safe haven bet, but the flow of relatively better news internationally, especially on Donald Trump’s tariff front, is taking the sheen off gold. What’s the gold price outlook for this week, and what should investors do? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations:Gold pared some of the gains witnessed last week as the market responded to mounting U.S. fiscal concerns & escalating trade rhetoric from President Trump. This also led to weakness in the dollar as the same stayed below 100, which continued to fuel demand for the yellow metal. Moody’s recent downgrade […]

[ad_1] MUMBAI: The boards of Tata Trusts and Tata Sons will convene on Wednesday and Thursday to evaluate, among other things, a report acknowledging disclosure lapses by Tata Sons company secretary Suprakash Mukhopadhyay about his involvement and association with a wealth management firm owned by his family. The report, authorised by Tata Sons chairman N Chandrasekaran, follows concerns raised about Mukhopadhyay's connection to Divinion Advisory Services, potentially creating conflicts of interest with his role in the Tata system.Tata Trusts' executive trustee Mehli Mistry told TOI, "I have complete faith and confidence in Chandra, the chairman of Tata Sons, to respond and handle such matters appropriately, as he deems fit and proper."Prepared by three Tata Sons executives, the report has concluded that Mukhopadhyay's actions "do not appear to be an intentional breach of the Tata code of conduct". It, however, said […]

[ad_1] Top stocks to buy today (AI image) Stock market recommendations: According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, ITI, Minda Corp, and BLS International are the top stocks to buy today:ITI LTD: BUY NEAR ₹304 | Stop Loss: ₹265 | Target: ₹370 (Positional)ITI Ltd has witnessed a strong breakout after months of consolidation, forming a classic inverse head and shoulders pattern. The breakout has occurred just above the 200 DEMA with humongous volume support, indicating strong institutional participation. Having corrected from ₹600 levels earlier, the stock now shows clear signs of a trend reversal. Traders may consider buying near ₹304 with a stop-loss at ₹265 and a positional target of ₹370.MINDA CORP: BUY NEAR ₹530 | Stop Loss: ₹495 | Target: ₹600 (Short Term)Minda Corp has confirmed an inverse head and shoulders breakout, […]

[ad_1] MUMBAI: The mutual fund space is seeing two new entrants. While Reliance Jio-BlackRock's joint venture received Sebi approval to launch an asset management company (AMC), South Africa-based Sanlam joined Shriram Asset Management as a co-promoter with a strategic investment.Jio Financial Services and US-based BlackRock's 50:50 JV-Jio BlackRock Asset Management-was cleared by Sebi to operate as an investment manager for mutual funds. The new AMC will combine Jio's digital reach and local market understanding with BlackRock's global investment expertise and proprietary risk management platform, Aladdin.Meanwhile, Shriram AMC, India's first listed asset manager, inducted Sanlam, South Africa's largest asset manager, as a co-promoter. This move strengthens a 20-year partnership between Shriram Group and Sanlam, which spans life and general insurance. [ad_2] Source link

[ad_1] Indians sending money from the US back home may have to pay a 3.5% remittance tax. US President Donald Trump’s ‘The One Big Beautiful Bill’ may actually turn out to be ugly for Indians living in the US. By 2026, Indians sending money from the US back home may have to pay a 3.5% remittance tax. ‘The One Big Beautiful Bill’ carries significant implications for many Indian residents in the United States, including H-1B visa holders and permanent residents. International money transfers from the United States to India might become more expensive by 2026 if President Donald Trump's proposed legislation receives approval. The extensive 1,116-page 'One Big Beautiful Bill', which includes tax modifications and expenditure reductions, has received House approval and awaits Senate consideration. The final vote is anticipated in late June or July, with implementation contingent upon passage. […]

[ad_1] NEW DELHI: The income tax department has extended the deadline for filing of tax returns by individuals from July 31 to Sept 15 in the wake of several amendments to the law, which have necessitated revisions in the notified ITRs for this assessment year, requiring the authorities to rework the technology platform, among other things."The notified ITRs for Assessment Year 2025-26 (FY2024-25) have undergone structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting. These changes have necessitated additional time for system development, integration, and testing of the corresponding utilities. Furthermore, credits arising from TDS statements, due for filing by May 31, 2025, are expected to begin reflecting in early June, limiting the effective window for returns filing in the absence of such extension," the Central Board of Direct Taxes (CBDT) said in a statement.For […]