Sebi imposes penalty on Suzlon, executives for misstating financials
The Securities and Exchange Board of India has fined Suzlon Energy and its top executives ₹29 crore. This action follows allegations of misleading investors by misstating financial statements between FY14 and FY20. Sebi’s investigation revealed questionable transactions, including the sale of a business at an inflated price.
Sagarmala Finance plans India’s first blue bond issue
Sagarmala Finance Corporation is set to launch India’s first blue bonds this fiscal year. The state-owned lender aims to raise up to ₹1,000 crore through this maiden issue. These bonds will fund maritime projects, attracting investors interested in this sector. This move will help address the company’s asset-liability mismatch. The corporation has a mandate to […]
US-led AI investments risk capital destruction: Chris Wood
Jefferies’ Chris Wood warns of significant capital destruction in the current AI investment cycle, drawing parallels to past boom-and-bust scenarios. He highlights that US tech giants, investing heavily in AI capex, are most likely to bear the brunt of this potential destruction, unlike China’s comparatively smaller investment.
Forex reserves fall by $7.5 billion to $681.3 billion in week ended May 22
The rupee fell to a record low of 96.96 on May 20. The fall in reserves also comes amid revaluation in gold reserves. Gold reserves fell by $4.5 billion to $114.7 billion, while foreign currency assets decreased by $2.8 billion to $543 billion in the week.
Gold demand drops 70% after sharp duty hike in India
Demand fell to about 7.5 tonnes in the fortnight ended May 27 from around 25 tonnes a year earlier, according to industry estimates. The government increased the import duty on gold to 15% from 6% with effect from May 13.
RBI books ₹1.69 lakh crore forex gains amid record dollar sales
The Reserve Bank of India earned ₹1.69 lakh crore from foreign exchange transactions in FY26, up 52% from the previous year, as it sold a record $53.13 billion from forex reserves to support the rupee amid a 9.5% depreciation. RBI’s total foreign income rose 27% to ₹3.28 lakh crore, helped by higher returns from foreign […]
CSR norm tweak to boost social stock exchanges
Companies can now allocate up to 10% of their annual CSR spending via zero coupon zero principal instruments from not-for-profit organizations listed on social stock exchanges. This move aims to boost social stock exchanges by attracting more investors and encouraging companies to engage in vetted, outcome-oriented social projects.
MSCI index rejig, US-Iran deal worries spook Dalal Street
Indian stock markets experienced a significant drop on Friday, with major indices closing lower. This decline was largely driven by outflows related to MSCI index rebalancing. Despite a tentative ceasefire extension between the US and Iran easing oil prices, market sentiment remained subdued. Foreign investors were net sellers, while domestic institutions provided some support.