The RBI has issued new guidelines allowing foreign-owned or controlled companies in India to buy and swap shares with local businesses, enhancing deal flexibility. This move clarifies and simplifies downstream investment procedures while restricting investments by Chinese subsidiaries in India using retained earnings.
Railway stocks surge as orders restart: Rites, Titagarh Rail, and RVNL lead the rally
Shares of Rites (Rail India Technical and Economic Service) jumped 15.7%, followed by Titagarh Rail Systems, which gained 12.8%. Shares of Rail Vikas Nigam(RVNL), BEML