Mumbai: Adani Group stocks extended their rally to a second day on Wednesday as investors were encouraged by the conglomerate’s move to repay borrowings early and free up share pledges besides giving assurances about cutting debt further. Six of the 10 Adani stocks gained between 5% and 20% on Wednesday, helping the group regain ₹49,000 … Read more
The Centre will provide Rs 95,082 crore to states in November, including the advance release of one instalment of central tax devolution, to help them drive up capital expenditure and aid growth. Two instalments – of Rs 47,541 crore each – together instead of one will be released to states on November 22, union finance … Read more
In a bid to boost the economy grappling with the fresh COVID-19 wave, the Finance Ministry has relaxed the spending guidelines to enable ministries and departments to undertake capital expenditure totalling Rs 44,000 crore envisaged in the budget for 2021-22. According to an office memorandum (OM) issued by the Finance Ministry on Thursday, the monthly/quarterly … Read more
As part of the government’s plan to accelerate economic growth, finance minister Nirmala Sitharaman urged central public sector enterprises (CPSEs) to boost their capital expenditure (capex) and achieve their targets, in a virtual meeting on Tuesday. Sitharaman said CPSEs played an important role in pushing the economy forward while reviewing their performance, adding that a … Read more