Finance – Page 3 – THE ECONOMIC INDIA

28 Oct

Microfinance Loans at Rs 4.42 Lakh Crore Need Sustainable Financing to Boost Income Levels

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New Delhi [India], October 26: The ‘Bharat Microfinance Report’ released by Sa-dhan, India’s largest self – regulatory organisation of Impact Finance Institutions, has observed that the micro-finance institutions, particularly the ‘For – Profit’ organisations like NBFC-MFIs, NBFCs and SFBs should follow more caution for ensuring a better quality of assets and growth while exploring the ways of sustainable inclusive finance. Sa-dhan released the report during its two-day 19th Sa-dhan National Conference on Inclusive Growth 2024 happening in New Delhi. Shri Jiji Mammen, Executive Director and CEO of Sa-dhan said, “The micro-finance sector needs to move into a sustainable mode; so as to…

24 Oct

Rehau Strengthens Indian Market Presence With 51% Stake Acquisition In Red Star Polymers

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New Delhi [India], October 24: REHAU Group, headquartered in Germany., a global leader in polymer product solutions for emerging markets like Interior, Building, Windows, Railways(Metro), and Automotive across the world, has a presence in over 100+ countries with more than 20,000 employees, recorded revenue of more than €4.7 billion last year, has successfully acquired Majority stake in Chennai-based RED STAR Polymers Pvt Ltd., through the Foreign Direct Investment (FDI) from its Switzerland entity M/s REHAU VERWALTUNGSZENTRALE AG. RED STAR Polymers, a leading producer of PVC Edgeband tapes has a manufacturing facility in Sri City, Andhra Pradesh, and boasts a strong presence in South…

04 Sep

Goodwill Wealth Management Empowers Investors with GigaPro and Comprehensive Financial Services

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Chennai (Tamil Nadu) [India], September 4: Goodwill Wealth Management Private Limited, a leading stock broker in India, is revolutionizing the investment landscape with the launch of its flagship mobile trading app, GigaPro, and a comprehensive suite of financial services designed to empower investors at every level. GigaPro is a powerful, user-friendly platform that simplifies the complexities of investing, making it accessible to both seasoned traders and newcomers. The app boasts an intuitive interface that allows for easy navigation and trade execution. With real-time market data readily available, investors can stay updated with the latest stock prices, charts, and news, ensuring…

22 Aug

Varun Hiremath, CEO of Fair Deal Wealth Advisors Brings Financial Literacy to the Community

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Mumbai (Maharashtra) [India], August 22: Varun Hiremath, the visionary behind Fair Deal Advisors, recently hosted an online seminar titled “Mastering Your Money: Financial Literacy for Everyone,” focused on simplifying finance for a diverse audience. The event drew a remarkable turnout, with participants from various age groups eager to enhance their financial literacy. The seminar was designed to demystify financial concepts, making them accessible to all. Varun Hiremath emphasized the importance of empowering individuals from different backgrounds to manage their finances confidently. He started the session by covering the basics and spending considerable time on the fundamental concept of budgeting. “If you want financial…

20 Aug

Empowering India’s Economic Growth: How Tax Professionals Navigate Challenges and Thrive with PracticeGuru’s Solutions

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New Delhi [India], August 20: India’s remarkable economic growth, fueled by rapid industrialisation, increased foreign investments, and a thriving domestic market, has catapulted the country onto the global stage. In this journey, tax professionals such as chartered accountants (CAs), company secretaries (CS), cost accountants (CMAs), and lawyers have played pivotal roles, their contributions integral to the country’s progress. They ensure compliance with tax regulations, offer strategic financial advice, and help businesses navigate the complexities of the tax landscape. As the economy diversifies, these professionals face growing challenges, from managing compliance with evolving tax laws like GST to balancing branding, client…

19 Aug

Innovation in Recovery: Share Samadhan’s Adaptive Approach to Unclaimed Investments

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Mumbai (Maharashtra) [India], August 17: Unclaimed investments are one of the biggest, silent worries in the area of financial management. A joint estimate of unclaimed assets in India is collectively estimated at ₹5,79,788 crores, including in value ₹3,78,000 crores in physical shares, ₹35,770 crores in mutual funds, ₹5,454 crores in unclaimed dividends, ₹28,800 crores in IEPF holdings, ₹62,225 crores in bank deposits, ₹48,000 crores in unclaimed provident funds, and ₹21,539 crores in unclaimed insurance policies. They definitely make an effective case. Share Samadhan, under the guidance of promoter Abhay Chandalia and Strategy Head Chaman Chandalia, has emerged as a pioneer…

26 Jul

Union Budget 2024-25: Growth Oriented, Boosting MSMEs and Employment

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Mumbai (Maharashtra) [India], July 26: Brijendra Kagzi, CMD of Shrijee Lifestyle Pvt. Ltd, applauded the Union Budget for 2024-25, highlighting its growth-oriented approach and its potential to foster employment, skill development, as well as MSME growth. Key Highlights Employment Incentives: The budget’s employment-linked incentives & internship programs are expected to drive job creation in the textile sector, the largest employment generator in manufacturing. Credit Guarantee Scheme: The proposed scheme will enable MSMEs to secure funding without collateral or third-party guarantees, encouraging growth in this sector. Areas for Improvement – Interest Subvention: To provide relief to existing and upcoming MSME textile…

15 Jul

Piramal Finance Offers Home Construction Loan: Your Dream Home, Now Within Reach

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Mumbai (Maharashtra) [India], July 15: Piramal Finance is offering a Home Construction Loan, designed to make your dream home a reality with ease and efficiency. Our loan product is tailored to meet the unique needs of homebuilders, offering fast disbursement, minimal paperwork, and a smooth process from start to finish. Fast Disbursement We understand that time is of the essence when it comes to building a home. That’s why our Home Construction Loan features fast disbursement, ensuring that funds are available when you need them most. With Piramal Finance, you won’t have to wait long to get your construction project underway. Minimal…

08 Jul

Filatex Fashions Ltd Board Approves 5-for-1 stock split

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Hyderabad (Telangana) [India], July 8: : Hyderabad based leading socks and cotton products manufacturing company Filatex Fashions Ltd has approved 1:5 (5-for-1) stock split to enhance the liquidity in the capital market and widen shareholder base. Approved sub-division of existing 1 equity share of Rs. 5 face value into 5 equity shares of Rs. 1 each Board of directors of the company in the meeting held of 7 June 2024 has approved sub-division of existing 1 Equity Share of face value of Rs. 5 each fully paid up into 5 Equity Shares of Rs. 1 each fully paid up. Post…

05 Jul

VMS Industries Ltd reports Revenue of Rs. 266.4 crore in FY24 with 89.7 Percentgrowth Y-o-Y; PAT up 152.9 Percent to Rs. 6.3 crore

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Ahmedabad (Gujarat) [India], July 5: Gujarat based VMS Industries Ltd (BSE – 533427) has reported excellent operational and financial performance of the 12 months ended March 2024. Company has achieved highest ever Annual Revenue of Rs. 266.37 crore for FY24 with 89.7% Y-o-Y growth as compared to revenue of Rs. 140.39 crore in the corresponding period of FY23. Company announced first interim dividend of Rs. 0.50 per share. Net Profit for the Full year of FY24 surged to Rs. 6.32 crore, representing a growth of 152.9% as compared to PAT of Rs. 2.50 crore in FY23. EBITDA for the FY24…