Wednesday, September 16
U.S. President Donald Trump on Wednesday announced that the United States is currently negotiating with India, after announcing earlier in the day that Washington will impose a 25% tariff on goods imported from the country starting August 1. "They have one of the highest tariffs in the world now, they're willing to cut it very substantially. But we'll see what happens," Trump told reporters. "We are negotiating right now and it's also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of that...It is an attack on the dollar and we are not going to let anybody attack the dollar. So it's partially BRICS and it's partially trade...We had a tremendous deficit.” The United States will impose a 25% tariff on goods from India, plus an add
Tata Investment Corp will consider a stock split proposal at its upcoming board meeting scheduled for August 4. In a regulatory filing, the company said the board will evaluate a sub-division of equity shares from the current face value of Rs 10 each, subject to shareholder and regulatory approvals.The board meeting was originally convened to approve the company’s unaudited standalone and consolidated financial results for the quarter ended June 30. However, in continuation of its earlier intimation dated July 28, the company has now added the stock split proposal to the meeting’s agenda.If approved, the move could enhance stock liquidity and make the shares more accessible to a broader set of retail investors, a common rationale behind stock splits. The company has not yet disclosed t
The National Stock Exchange (NSE) on Wednesday said it will introduce a lower price cap of 20 per cent below the issue price for SME initial public offerings (IPO) during the special pre-open session which will be effective on August 4. The move came after an earlier circular issued on July 4, 2024, wherein the NSE had introduced an upper cap of 90 per cent over the issue price during the special pre-open session for Small and Medium Enterprises IPOs. "To standardize the opening price discovery/ equilibrium price during the special pre-open session across exchanges, exchange (NSE) is introducing a floor (lower band) of 20 per cent below the issue price during the special pre-open session for SME IPOs," the NSE said in a circular. Accordingly, the special pre-open session for SME IPOs on th
Two days before the US reciprocal tariff deadline, US President Donald Trump confirmed on Wednesday that India will be facing a 25% tariff on its exports, effective August 1, 2025, in the light of no trade deal finalisation between the two countries yet. "India will therefore be paying a tariff of 25%, plus a penalty for the above, starting on August 1st. Thank you for your attention to this matter," the two-time president said. In a post on his social media platform, Truth Social, Trump slammed India for its long-standing trade practices and foreign policy alignments, particularly its close ties with Russia. He said that the India will also be facing an additional penalty for weapons and oil imported from Russian. "Remember, while India is our friend, we have, over the years, done relativ
The consolidated June-quarter net profit at Piramal Enterprises rose 52% to Rs 276 crore, driven by lower credit costs and improved margins.“The strong (consolidated) profit growth this year is primarily driven by our retail business, which recorded a 37% growth in AUM, credit costs fell while margins improved,” Jairam Sridharan, managing director, Piramal Enterprises, told ET.However, on a standalone basis, it reported a 39% drop in net profit to Rs 181 crore due to a 19% decline in interest income - to Rs 396 crore.The company’s assets under management stood at Rs 85,756 crore, up 22% year on year, while the NBFC’s net interest margin rose 10 basis points to 5.9%.“We have not yet benefited from the repo rate cuts announced by the central bank. The effects are just starting to s
