Thursday, August 13
The Association of Mutual Fund of India (AMFI) has released a 27-point proposal for Union Budget FY 2026-27, which includes a request to provide a separate deduction for investment in ELSS under the new tax regime, restoration of long-term indexation benefit for debt schemes which was withdrawn in Budget 2024, parity in tax treatment in respect of Intra-scheme switching of units under MF schemes, and amend definition of equity oriented funds to include fund of funds investing in equity overseas funds.Also Read | Silver ETFs deliver over 25% return in 2026. Time to invest or time to stay cautious?Here are a few important points made by AMFI in its proposal to the union ministry:1. Request to restore the long-term indexation benefit for debt schemes of mutual funds which was withdrawn in the
Walmart-backed digital payments major PhonePe has received approval from capital markets regulator Sebi to proceed with its IPO, according to sources. This clears a key regulatory hurdle for what is expected to be one of the largest fintech listings in the Indian market. The approval comes at a time when investor interest in large, consumer-facing technology platforms is relatively stable despite the talk around valuations.Earlier reports indicate that PhonePe is targeting around $1.5 billion through the public issue, even though the quantum of the fundraise could change closer to the IPO. The public offer will be a complete offer for sale (OFS), where Tiger Global, Microsoft and Walmart will offer part of their shares, sources said.PhonePe's last reported valuation stood at $14.5 billion
India’s eight core infrastructure sectors expanded by 3.7 per cent in December 2025, slowing from 5.1 per cent in the same month last year but marking a clear pickup from 2.1 per cent growth in November, government data showed on Tuesday.The core industrial output accelerated to a four-month high in the last month of calender year 2025, driven primarily by strong steel and cement production. The Index of Eight Core Industries (ICI), which tracks coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, recorded 3.7 per cent (provisional) growth year-on-year in December 2025. Notably, five sectors--coal, fertilisers, steel, cement and electricity, posted positive growth during the month.The eight core industries together account for 40.27 per cent of th
ET Intelligence Group: Shadowfax Technologies, a third-party logistics (3PL) company, plans to raise ₹1,000 crore through a fresh issue to cover lease payment, branding and marketing expenses and to fund capital expenditure. It will also raise ₹907.3 crore through an offer for sale. The promoter group's stake will fall to 16.7% after the IPO from 19.4%. The company's market share in the e-commerce shipment nearly trebled to 23% in the first half of FY26 from 8% in FY22. It is the largest 3PL company in terms of same day delivery and reverse pick-up volume. However, nearly half of its revenue comes from one client (Meesho), signalling revenue concentration. But its profitability has improved significantly over the past few quarters and given the increased traction in e-commerce and quic
Mumbai: Wipro shares dropped more than 8% Monday, reacting to the disappointing outlook given by the country's fourth-biggest outsourcing company that announced its earnings Friday. Analysts said disappointment over fourth-quarter growth guidance by the management has led to the fall. They remain divided about the stock's prospects. Shares of Wipro ended at ₹245.5 on NSE Monday, down 8.2%. Wipro ADRs were, however, up 2.18% on Monday 22.33 IST. Wipro's revenue from operations was at ₹23,556 crore for the quarter ended December 31, with sequential and on-year increases of 3.8% and 5.5%, respectively.“While performance was broadly in line with expectations, with stable growth and margins, the fourth quarter revenue guidance of 0-2% growth, including the impact of the Harman acquisitio
