Adani stocks lose Rs 11 lakh cr in market cap in a month, more than govt’s capex spend plan in full year FY24
Adani Group shares have lost in just 30 days more than what the Indian government plans to spend on capital expenditure over the full financial year 2023-24. Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission, Adani Wilmar, Ambuja Cements and ACC Ltd stocks have together lost over Rs 11 lakh crore in market cap in the last one month. For comparison, the Centre’s capital expenditure outlay for FY24 is at Rs 10 lakh crore. The stocks of Gautam Adani-led companies have been falling since the US-based short-seller Hindenburg Research LLC accused the Adani family of stock manipulation and money laundering.
Punjab road infra: 4-lane wide section from Phagwara to Rupnagar to reduce Jalandhar-Chandigarh travel time by almost half – Details inside
To boost the road infrastructure in Punjab, the National Highway Authority of India (NHAI) has developed a four-lane wide section from Phagwara to Rupnagar. This has been built on National Highway – 344A. The move is in line with Prime Minister Narendra Modi’s vision to build sustainable infrastructure in the country. The 80.82 km long project is being executed in Hybrid Annuity Mode at a cost of Rs 1,367 crore.
UPI payment live for international travellers visiting Delhi, Mumbai, Bengaluru airports – Details
The UPI payment facility for international travellers visiting India has started. The RBI said that the facility has been made available from Tuesday (February 21, 2023).
“The Reserve Bank of India (RBI) had announced in the Statement on Developmental and Regulatory Policies dated February 08, 2023, a facility to enable all inbound travellers visiting India to make local payments using Unified Payments Interface (UPI) while they are in India. This facility is made available from today,” RBI said in a statement on Tuesday.
Uttar Pradesh Budget 2023: Yogi sets stiff growth target, provides big push for infra – Key takeaways
Uttar Pradesh Chief Minister Yogi Adityanath addressed the media post state budget 2023 presentation in the Vidhan Sabha, on Wednesday. The state government presented the largest ever budget for the most populous state of the country.
“Today we have presented the first budget of ‘Amrit Kaal’. It will help in making the state self-reliant on the lines of self-reliant India. This budget will serve as the foundation to make the economy of UP a $1 trillion economy in the next 5 years,” said CM Adityanath.
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Extended trading hours for share markets: Here’s why traders are anxious; Nithin Kamath, others weigh in
The trading hours for interest rate derivatives have been extended by the National Stock Exchange (NSE) until 5 pm, with effect from 23 February. NSE is also mulling increasing trading hours for the equity and equity derivatives segments as well, and is seeking feedback from members and traders, according to media reports. Some investors are in favour of the decision, but others are against it.
Chance to make money from growing Multinational Companies with HDFC MNC Fund: NFO details here
As multi-national companies are growing in size and influence, investors have an opportunity to make money from these companies by investing through the mutual fund route. The HDFC Asset Management Company (AMC) has launched a New Fund offer (NFO) for HDFC MNC Fund, which is an open-ended equity scheme following a multinational company (MNC) theme.
“MNCs have historically had good corporate governance, strong business models and attractive financial metrics. Also, they have had an attractive wealth creation track record over longer time frames. Further, they have exhibited better resilience during market downswings. This, along with potential diversification benefits arising out of a low overlap with broader market, does create an investment case for investing in MNCs through HDFC MNC Fund,“ Rahul Baijal, who will be managing the fund.
SSY calculator 2023: What Rs 1.5 lakh/year in Sukanya Samriddhi Yojana account will give
Sukanya Samriddhi Account Returns Calculation 2023: Sukanya Samriddhi Yojana (SSY) account is considered one of the best saving/investment schemes for accumulating a large corpus in the name of a girl child. The scheme allows parents to invest up to Rs 1.5 lakh per year in the SSY account in the name of their girl child. The amount invested under the SSY scheme also qualifies for a deduction under Section 80C of the Income Tax Act.
At present, the SSY interest rate is 7.6%, which is better than many fixed deposit options provided by banks and even the post office. Here’s a look at how much returns the scheme will provide if you are investing a fixed amount every year for the full term, based on the calculation using online SSY calculators.
Best 5-year Senior Citizen Fixed Deposit Interest Rates by Government Banks: 12 Banks compared
Bank Fixed Deposits have become attractive once again, especially for senior citizens who don’t want to risk their life savings. While senior citizens also get an option to invest in various Post Office savings schemes like Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS) and National Savings Certificate (NSC) for guaranteed returns, many of them invest in Bank FDs also.