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Iran’s currency hit a new record low Monday, with the rial dropping to 2.02 million to the US dollar as markets opened, as the economy has been battered by ongoing sanctions and an American naval blockade. The drop on Iran’s informal currency markets came as Washington prepared to announce even more extensive sanctions that it…
The Union government will sell 3% equity in Hindustan Copper Ltd through an offer for sale, with an option to sell another 3% in case of oversubscription. The OFS will open at a floor price of Rs 514 per share. This is about 10% discount to the last closed price of Rs 573.55. The OFS…
Technology investor SoftBank Group has once again trimmed its holding in Lenskart Solutions, selling nearly a 2.6 per cent stake in the eyewear retailer for Rs 2,888 crore through open market transactions on Monday. In June, SoftBank sold a 3.25 per cent stake in Lenskart for Rs 2,873 crore. In the latest transaction, Japan-based SoftBank…
Markets regulator Sebi has dropped proceedings against Max Financial Services, Max Life Insurance, Axis Bank, Axis Capital, Axis Securities and seven individuals in the matter related to the Max-Axis Life Insurance deal, saying the allegations of disclosure lapses and fraud were not established. The final order, passed by Whole-Time Member Amarjeet Singh, covered 12 noticees,…
If you are looking at global markets and avoiding India based on its recent performance, you may be overlooking its long-term track record. While diversifying across markets can help spread portfolio risk, chasing today’s best-performing market may not always be the right approach for long-term investors. Data from a WhiteOak Capital Mutual Fund study shows…
India Post offers a number of small savings schemes for various investor types and across tenures. Notably, returns on these investments are backed by the government. The schemes on offer include the Senior Citizens Saving Scheme (SCSS), Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Monthly Income Scheme (MIS) and Kisan Vikas Patra (KVP), among…
Indian employees going abroad and foreign nationals working in India may be subject to provident fund rules that differ from those applicable to regular EPF members. EPFO classifies eligible employees as International Workers. There are separate rules governing contributions, withdrawals and pension benefits. Who is an International Worker? Under EPFO rules, an International Worker can…
Taxpayers with business or professional income who are filing ITR-3 or ITR-4 by 31 August should carefully fill in the schedules in their returns and reconcile key details with their financial records. Siddharth Maurya, Managing Director, Vibhavangal Anukulkara, explained the key schedules taxpayers should review and the checks they should complete. Which schedules are important…
Foreign institutional investors have started returning to select midcap and smallcap stocks after cutting their holdings for two straight quarters, according to data from Ace Equity. At least 7 stocks saw FIIs reduce their stake in the December 2025 and March 2026 quarters, before buying again in the June 2026 quarter. Many of these stocks…
India’s IPO market is seeing its busiest month in nearly a year, with 20 companies raising more than Rs 21,000 crore in August so far, helped by better market sentiment, stronger listing gains and a large pipeline of companies waiting to go public. The number of IPOs in August is the highest in the last…