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NRI Services

Who is a Non-Resident Indian (NRI)?

A non-resident Indian (NRI) is an Indian citizen or a person of Indian origin who stays abroad for employment, business or vocation outside India, or stays abroad under circumstances indicating an uncertain duration.

Who is a Person of Indian Origin (PIO)?

A Person of Indian Origin means a citizen of any country (other than Bangladesh or Pakistan), if the person: (a) at any time held an Indian passport; or (b) or the persons parents or grandparents were citizens of India; or (c) is a spouse of an Indian citizen, or of a person referred to in (a) or (b) above.

Who is a Foreign Institutional Investor (FII)?

An FII is an institution established or incorporated outside India which proposes to invest in Indian securities and is registered with SEBI.

Who is an Overseas Corporate Body (OCB) ?

An OCB includes overseas companies, partnership firms, societies and other corporate bodies owned predominantly by non-resident persons of Indian nationality or origin outside India.

Can an NRI maintain a bank account in India?

Yes. NRIs can maintain accounts in rupees as well as in foreign currency.

What types of rupee accounts may NRIs maintain?

There are 4 types:

 1. Non-resident (External) Rupee Accounts (NRE)

 2. Non-Resident (Special) Rupee (NRSR) Account

 3. Ordinary Non-resident Rupee Accounts (NRO)

4. Non-resident (Non-repatriable) Rupee deposit accounts (NRNR)

What are NRE, NRO and FCNR accounts?

Non-Resident (External) Rupee (NRE). This is a Rupee account from which funds are freely repatriable. It can be opened with either funds remitted from abroad or local funds which can be remitted abroad.

Non-Resident Ordinary Rupee (NRO). This is a Rupee account and can be opened with funds either remitted from abroad or generated in India. These funds are non-repatriable. However, under certain circumstances, these are allowed to be repatriated.

Fully Convertible Non-Resident Rupee (FCNR). This account is similar to the NRE account except that the funds are held in foreign currencies and can be maintained in Pound Sterling,U.S. Dollar, Euro and Japanese Yen. FCNR accounts can be maintained only in the form of term deposits, i.e. a deposit kept for fixed periods ranging from 6 months to 3 years.

How do NRE, NRO and NRSR accounts differ?

Balances held in NRE accounts can be repatriated abroad freely, whereas funds in NRSR and NRO account cannot be normally remitted abroad but have to be used only for local payments in rupees. Consequently, funds remitted from abroad or local funds which can otherwise be remitted abroad to the accountholder can only be credited to NRE accounts.

Can an NRI, and FIIs invest in mutual funds in India?

Yes. The following summary outlines the various provisions related to investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Foreign Institutional Investors (FIIs) in the Schemes of the Mutual Fund and is based on the relevant provisions of the Income-tax Act, 1961 (the Act), regulations issued under the Foreign Exchange Management Act, 1999 and the Wealth-tax Act, 1957 (collectively called the relevant provisions). The following information is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to consult with his or her own tax advisors / authorised dealers with respect to the specific tax and other implications arising out of his or her participation in the funds.

Can an NRI, and FIIs invest in mutual funds in India?

Yes. The following summary outlines the various provisions related to investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Foreign Institutional Investors (FIIs) in the Schemes of the Mutual Fund and is based on the relevant provisions of the Income-tax Act, 1961 (the Act), regulations issued under the Foreign Exchange Management Act, 1999 and the Wealth-tax Act, 1957 (collectively called the relevant provisions).

The following information is provided for general information only. However, in view of the individual nature of the implications, each investor is advised to consult with his or her own tax advisors / authorised dealers with respect to the specific tax and other implications arising out of his or her participation in the funds.

Purchase Applications.

NRIs can invest in mutual funds on a Repatriable/Non-Repatriable basis as per the provisions of Schedule 5 of the Foreign Exchange Management (Transfer or issue of Security by a Person Resident Outside India) Regulations, 2000 (the Regulations) as explained below.

A Common Application Form duly completed together with cheques or bank drafts should be remitted through Investor Service Centres. All cheques/demand drafts accompanying the application form must be made in favour of the scheme names and crossed "A/c payee" only and should be made payable at a city where the application is accepted by any Investor Service Centres.

Repatriable Basis - NRIs, PIOs.

When NRIs and PIOs apply to purchase units on a repatriable basis, payments may be made inward remittances, or by cheques drawn on the NRE/FCNR account of the investor [Clause 3(2) of the Regulations] payable at the city where the application form is accepted by any Investor Service Centres.

Non-Repatriable Basis - NRIs, PIOs.

When NRIs/PIOs apply for units on a non-repatriable basis, payments may be made by inward remittances, or by cheques/demand drafts drawn on the NRE/FCNR/NRO/NRSR account of the investor, payable at the city where the application form is accepted by any Investor Service Centres.

FII Investors.

FIIs may pay for their purchases with funds held in a Foreign Currency account or Non-resident Rupee account maintained in a designated branch of an authorised dealer. Payments may be made by cheques payable at a city where the application is accepted by any Investor Service Centres..

Applications from FIIs should be accompanied by appropriate documentation supporting the status of the investor and should be sent to the AMC/ISC , so as to reach them not later than 7 days after the date of the subscription.

Similarly, in case of an application under a Power of Attorney or by an FII, the original Power of Attorney or the relevant resolution/authority to make the application (or a duly notarised certified true copy thereof), along with a certified copy of the Memorandum and Articles of Association and/or bye laws and Certificate of Registration should be submitted to the ISC within 7 days from the date of the application. The officials should sign the application under their official designation.

The NRIs/PIOs/FIIs may also be required to furnish other documents needed to process their investments.

Does an NRI, FII require any approval from the RBI to invest in mutual funds?

No special approval is required. NRIs/PIOs/FIIs have been granted a general permission by RBI [Schedule 5 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000] for investing in /redeeming units of the funds subject to conditions set out in the aforesaid regulations.

Can an NRI invest in foreign currency?

An NRI cannot make the investment in foreign currency. He needs to give a Rupee cheque from his NRE, NRO, NRSR bank account in India. He may also send a Rupee cheque from abroad payable in a bank in India. However, for an NRI to invest, it is mandatory that he maintains a bank account in India.

What is the mode of payment for Repatriation and Non-Repatriation Basis?

Repatriable Basis. Payments for the purchase of the units may be made by Indian Rupee drafts purchased abroad, or by cheques drawn on the NRE/FCNR Account of the investor, payable at the city where the application form is accepted by any Investor Service Centres.

Non-Repatriable Basis.

Payments for the purchase of the units may be made by Indian Rupee drafts purchased abroad, or by cheques/demand drafts drawn on the NRE/FCNR/NRO/NRSR/NRNR account of the investor, payable at the city where the application form is accepted by any Investor Service Centres.

FII Investors.

FIIs may pay for their subscription amounts by Indian Rupee drafts purchased abroad, or from funds held in a Foreign Currency account or Non-resident Rupee account maintained in a designated branch of an authorised dealer. The Indian Rupee drafts/cheques should be made payable at a city where the application is accepted by any Investor Service Centres.

When will my NRI purchase take effect?

If an application is received before the 3 p.m., Indian Standard Time on any business day, the allocation of units will be based on the NAV of that business day. All applications received after the prescribed time will be treated as having been received on the next business day and the units allotted accordingly.

How does an NRI redeem funds?

In the open-end schemes of mutual fund units can be purchased or redeemed at any point in time. To redeem funds, submit the redemption request to the nearest Investor Service Centre. Your form must contain the investors folio number and the amount / units you would like to redeem. Redemption requests by telephone, telegram, fax or email that lack valid signatures will not be accepted.

How will the redemption proceeds be paid?

Redemption proceeds will be paid by cheque. The cheque will be payable to the first unitholder and will include the bank account number. Redemption proceeds/repurchase price and/or dividend or income earned (if any) will be payable in Indian Rupees only.

How can the redemption proceeds be repatriated?

The investments shall carry the right of repatriation of capital invested and capital appreciation so long as the investor continues to be a resident outside India.

In the case of an FII, the designated branch of the authorised dealer may allow remittance of net sale/maturity proceeds (after payment of taxes) or credit the amount to the Foreign Currency account or Non-Resident Rupee account of the FII, maintained in accordance with the approval granted to it by the RBI.

In any other case, where the investment is made out of inward remittance or from funds held in the NRE/FCNR account of the investor, the maturity proceeds/repurchase price of units (after payment of taxes) may be credited to the NRE/FCNR/NRO/NRSR account of the non-resident investor maintained with an authorised dealer in India

What about redemption proceeds where investments were made on a non-repatriable basis?

Where the purchase of units is made on a non-repatriable basis, the maturity proceeds/repurchase price of units (after payment of taxes) will not qualify for repatriation and may be credited to the NRO/NRSR account of the non-resident investor.

Where the investment is made out of funds held in a NRSR account, the maturity proceeds/ repurchase price of units (after payment of taxes) may be credited to the NRSR account maintained by the investor with an authorised dealer in India.

Similarly, investments in units purchased in Rupees, where the investor was a resident of India and subsequently becomes a non-resident, will not qualify for repatriation of repurchase proceeds of units.

The entire income distribution on the investment will, however, qualify for full repatriation. Investors are advised to contact their banks/tax consultants if they desire remittance of the income distribution on units abroad.

Is the income/dividend on mutual fund units repatriable?

The investments shall carry the right of repatriation of capital invested and capital appreciation so long as the investor continues to be a resident outside India. In the case of an FII, the designated branch of the authorised dealer may allow remittance of net sale/maturity proceeds (after payment of taxes) or credit the amount to the Foreign Currency account or Non-resident Rupee account of the FII maintained in accordance with the approval granted to it by the RBI. In any other case, where the investment is made out of inward remittance or from funds held in NRE/FCNR account of the investor, the maturity proceeds/repurchase price of units (after payment of taxes) may be credited to NRE/FCNR/NRO/NRSR account of the non-resident investor maintained with an authorised dealer in India.

What is the tax liability on redemptions?

Under Section 2(42A) of the Income Tax Act, units of the fund held as a capital asset for a period of more than 12 months immediately preceding the date of transfer, will be treated as a long-term capital asset for the computation of capital gains, thus qualifying for the long-term capital gains tax rate. In all other cases, it would be treated as a short-term capital asset and would be taxed at the short-term capital gains tax rate.


What is the tax liability for income received from your mutual funds?

As per Section 10(35) of the Income Tax Act, 1961, income received from mutual fund units specified under Section 10(23D) is exempt from income tax in India and the mutual funds are subject to pay distribution tax in debt oriented schemes. Hence all dividends are tax-free in the hands of non-resident investors and no TDS is applicable on the same.


Is it mandatory to have a Permanent Account Number (PAN)?

It is not mandatory to have a PAN for an NRI even if the investment amount is greater than Rs. 50,000. PAN would however, be required if the NRI is required to file a return in India or claim a refund of any taxes paid.


How does one apply for a PAN?

An application is required to be made in Form 49A (Download)

What is the proof of the Tax Deduction at Source?

A TDS certificate is issued in the name of the investor mentioning the details of the transaction and the tax deducted. The TDS certificate is commonly known as Form16 A.

When will the TDS certificate be issued?

A TDS certificate (Form 16A) will be despatched to the investor at his or her registered address along with the redemption warrant.

Can an NRI have a joint account in a mutual fund with a resident Indian?

Yes. An NRI investor can jointly own a fund account with a resident Indian or a Non-resident Indian.

Is the indexation benefit available to NRIs?

Yes, if units are held for more than 12 months i.e. on long-term capital gains.

Are fund units liable to the wealth tax?

No. Units issued to overseas investors will not be treated as assets as defined under section 2(ea) of the Wealth-Tax Act, 1957 and hence will not be liable to wealth tax.

Can dividend received from a mutual fund in an NRO account be repatriated?

Yes. Income generated from investments (dividend, in this case) done on a non-repatriable basis qualify for full repatriation.

Can an NRI fax a request followed by the original documents?

No. Units cannot be redeemed or allotted on the basis of fax applications. A request that lacks a valid signature cannot be processed due to legal restrictions.

Can a Power of Attorney (POA) invest on behalf of the NRI investor?

Yes. unlike banks where a POA holder cannot open an account on behalf of the NRI, in a mutual fund the POA has the authority to invest on behalf of the investor and sign documents for initial and additional purchases as well as redemptions.

While applying for purchase of units the POA holder needs to submit the original POA or a copy duly notarised should be submitted. The Power of attorney should contain the signature of both the first holder and the POA holder. Only when the POA is registered does the POA holder have the right to transact on behalf of the NRI investor. His signature will be verified for processing any transaction/request.

Is nomination by NRIs allowed in Mutual Funds?

Yes. It is allowed only for Individuals/HUFs.


Can a resident Indian have an NRI as nominee?

Yes. The same rules apply for nominees to resident Indian accounts. An NRI can be a nominee to an account which is in the name of a resident Indian.


Investments by U.S Person

There are certain mutual funds which do not permit investments in their schemes as these are entities who are also governed by the laws in US (for eg Franklin Templeton Mutual Fund) and the Schemes have not been registered in the United States of America under the Securities Act of 1933 which is a mandatory requirement for these fund houses. Applicants for Units may be required to declare that they are not a U.S. Person and are not applying for Units on behalf of any U.S. Person.


The term "U.S. Person" shall mean any person that is a United States Person within the meaning of Regulations under the United States Securities Act of 1933, as the definition of such term may be changed from time to time by legislation, rules, regulations or judicial or administrative agency interpretations.

Funds presently not eligible for investments by US residents are:

Fidelity Mutual Fund

Franklin Templeton Mutual Fund

HSBC Mutual Fund

PNB Principal Mutual Fund


Overseas Citizenship of India (OCI)

Who is eligible for OCI?

Persons of Indian Origin, who migrated from India after 26 January, 1950, and

1. who were citizens of India on or at anytime after 26.01.1950 or

2. who were eligible to become Indian citizens on 26th January, 1950 or

3. belonged to a territory that became part of India after 15th August, 1947 and

4. their children and grand children,

whose present nationality is such that the country of nationality allows dual citizenship in some form or the other under the local laws, will be eligible to be registered as OCI. Minor children of such persons are also eligible for registration as OCI. However, minor children, whose both parents are Indian citizens, are not eligible for OCI.

OCI is a passage to become Indian Citizen

The grant of OCI is extended to citizens of all countries (which allow dual nationality) other than those who had ever been citizens of Pakistan and Bangladesh. The amended legislation further reduces the period of stay of two years to one year in India for OCI, who is registered for five years, to become eligible for grant of Indian citizenship.

Article 9 of the Constitution of India clearly states that a person shall cease to be a citizen of India, if he voluntary acquires the citizenship of any foreign State. Therefore, one cannot have citizenship of any other country, if he is an Indian citizen. The expression dual citizenship is, therefore, a misnomer. However, the technical term used for the scheme in the Citizenship Act, 1955 (as amended vide Amendment Act, 2005) is Overseas Citizenship of India (OCI).

Persons registered as OCI are not Indian citizens. This is a new category of citizenship created under the statute with certain restricted rights as compared to Indian citizens.

OCIs holder can not hold the following positions:

1. Public employment,

2. election to Constitutional offices like President/Vice President/Judges of the Supreme Court or High Courts

3. Members of Parliament or Legislative Assembly/Council or

4. right to vote under Representation of People Act, 1950.

A person registered as OCI is entitled to the following benefits:

1. Grant of multiple entry, multi-purpose lifelong visa to visit India;

2. Exemption from registration with FRRO/FRO for any length of stay in India; and

3. Parity with NRIs in economic, financial and educational fields except in matters relating to acquisition of agricultural/plantation properties.

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Sundar has settled a case with markets regulator Sebi by returning the advisory fee and disgorging over Rs 6 crore. The case related to PR Sundar and Mangayarkarasi Sundar, promoters of Mansun Consulting, offering investment advice without the necessary registration from the market regulator.
2023-05-27T16:48:57+05:30


2023-05-27T16:36:42+05:30


We enter a “decisive” week; going by the technical setup on the charts, markets may look at initiating a definite directional bias this week and whatever trend it catches on may stay on at least for the short term.
2023-05-27T16:05:13+05:30


In global markets most of the central bankers are veering towards stopping the rate hikes and therefore the interest rate peaks are somewhere closer which should signal that the markets are now well and truly set on a fundamental course. Results will dictate the move ahead.
2023-05-27T16:01:04+05:30


Gold prices are heading for their third weekly decline after experiencing a surge in early May, soaring to a 33-month high of $2,085.4 per troy ounce. Hawkish comments from Fed officials, strong economic data from the US, and positive talks on the US debt ceiling have all boosted the dollar index and US benchmark treasury yields, forcing down bullion commodities.
2023-05-27T15:49:16+05:30


2023-05-27T15:43:20+05:30


In the aftermath of this turbulent episode, investors have become increasingly vigilant. They are actively seeking ways to analyse a bank's liquidity and want to ensure its ability to withstand adverse situations.
2023-05-27T14:43:36+05:30


Star Health Insurance was the top loser and the stock fell 8.8% over the week. Overall 12 block deals were executed worth Rs 668 crore, according to a Nuvama report. Over 1.21 crore shares changed hands at an average price of Rs 551, this report said.
2023-05-27T14:33:58+05:30


Shares of National Aluminium Co (Nalco) surged by over 5% as its Q4 revenues and profits beat market estimates. The Indian government-run firm is hopeful of profitability looking up in the current fiscal even though prices of aluminium may remain subdued due to tepid economic expansion globally.
2023-05-27T14:27:56+05:30


According to Mileen Vasudeo of Arihant Capital Markets, Nifty is expected to cross its initial resistance level of 18,650 and reach its prior all-time high soon, with the possibility of further gain. Bank Nifty is also likely to see a fresh all-time high and extend its gains towards 44,500 to 44,800 levels. Stock recommendations include VRL Logistics and Tata Elxsi, with expectations that both may see higher levels in the coming weeks.
2023-05-27T14:22:31+05:30


​VWAP is an important metric as it offers pricing insight into both the trend as well as value of a stock. ​
2023-05-27T14:16:19+05:30


​For some 6 counters from the largecap basket, the closing price of stock has gone above last month’s high. This is a bullish indicator as it indicates the stock is moving upward and has crossed the last month’s high.​
2023-05-27T13:36:37+05:30


2023-05-27T13:16:09+05:30


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2023-05-27T13:08:39+05:30


​These stocks have edged higher despite the Nifty Financial Services index ending in the red this week.(​
2023-05-27T13:02:48+05:30


GRM Overseas, a smallcap company with a market capitalization of about Rs 1,032 crore, is engaged in the business of milling, processing and marketing of branded and non-branded basmati rice in the domestic and overseas market.
2023-05-27T12:54:01+05:30


2023-05-27T11:57:17+05:30


The proposed acquisition does not include shares held by Sun Pharma and its affiliates. After the completion of the deal, Sun Pharma will have a 100% holding in the company.
2023-05-27T11:28:35+05:30


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2023-05-27T11:06:30+05:30


The overall view for the next series is positive for Nifty with an upside potential to reach 18800-19000. On the lower end. 18200 will continue to act as crucial support for the June series.
2023-05-27T10:54:21+05:30


So, what is this USA Debt Ceiling and what impact will it have on Global Financial markets? The USA government spends more money than it earns and therefore it needs to borrow money to pay its bills. In an attempt to control the level of debt, it can only borrow up to a certain limit and that certain limit is called the Debt Ceiling.
2023-05-27T10:43:15+05:30


China's industrial firms saw an overall 20.6% drop in profits from January to April compared to the same period last year, according to data from the National Bureau of Statistics. The fall was due to margin pressures and soft demand amid the country's faltering economic recovery. The grim profit readings come after April economic indicators, including industrial output, retail sales and property investment, suggested China's recovery is slowing down. Foreign firms' profits slid 16.2% and private-sector firms' profits plunged 22.5% in January-April. In response, China's government will focus on restoring and expanding demand, NBS statistician Sun Xiao said.
2023-05-27T10:18:05+05:30


The U.S. government will spend $936 billion on non-defense discretionary spending in 2023, the Office of Management and Budget estimates, money that goes to housing, education, road safety and other federal programs.
2023-05-27T10:09:34+05:30


The more precise estimate buys White House and congressional negotiators slightly more time to finalize a deal to raise the statutory ceiling on the federal government's borrowing capacity.
2023-05-27T10:05:36+05:30


In Turkey, voters head to the polls to decide on their next president and tech investors are on the hunt for undervalued opportunities in an over-valued space.
2023-05-27T09:58:58+05:30


The S&P 500 is up more than 9.4% for the year to date and now trades at nearly 19 times its forward earnings, at the high end of its historical range. Megacap technology and growth stocks, which benefit from lower interest rates, have led the market's advance.
2023-05-27T09:51:56+05:30


To much of the pundit class, the situation is replete with risk: what happens to the market when the hype-cycle around AI ends? Peter Tchir, head of macro strategy at Academy Securities, sees it differently. Piling into a few heavyweights is just investors “being rationally selective.”
2023-05-27T09:46:18+05:30


Bitcoin has seen a decline of 9% in its month-to-date performance. Currently, BTC faces a resistance level at US$26,471. If the price manages to close near this level, it could potentially pave the way for further upward movement towards the US$26,600 and US$27,000 levels.
2023-05-27T09:36:59+05:30


Digitization and hyper-personalization were other important changes fostered by the pandemic, and many investors are now keen on customised digital wealth management services, necessitating a shift in how the sector approaches and maintains its customer relationships.
2023-05-27T09:28:35+05:30


Additionally, DSP offers a specialized helpline for women to address their concerns and provide support. Society has responded positively, largely due to the increased visibility in the media, which aligns with our initial objectives.
2023-05-27T09:15:55+05:30


"After consolidating for the last few days, Nifty has managed to surpass the resistance of 18450 zones. We expect this momentum to continue and Nifty to touch its previous lifetime high in the coming weeks. The index is now just 380 points or 2% away from its lifetime high. With the result season nearing its end, the focus will now shift to macro data, US debt negotiations and upcoming central bank policy meetings," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
2023-05-27T09:08:19+05:30


The Dow Jones Industrial Average ended a five-day losing streak, while the Nasdaq Composite Index and S&P 500 closed at their highest levels since August 2022, with the S&P 500 above 4,200 points.
2023-05-27T08:47:07+05:30


The FMCG index has rallied 11% in the last three months against a 6% gain in the Nifty. ITC contributed to 57% of the rally in the FMCG index in the past three months, while HUL, Varun Beverages, and Nestle contributed a little over 27%.
2023-05-27T08:16:01+05:30


Edelweiss Alternative Fund acquired the loans for ₹650 crore, one of the people said.Edelweiss Alternative Fund and Goldman Sachs did not respond till press time Friday to ET's request for comment.
2023-05-27T08:12:32+05:30


Analysts said the central bank likely sold dollars from its reserves through market interventions in order to curb volatility in the exchange rate last week.
2023-05-27T08:07:17+05:30


HDFC's bond issue, which may have an additional subscription option of up to ₹5,000 crore, may see the rate of interest being set around 7.80%, market sources said.
2023-05-27T08:01:45+05:30


Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.
2023-05-27T07:54:08+05:30


The UAE-based promoters own 41.88% and FIIs 38.63% in the company. As per the reports, Aster's investors Olympus Capital, which has a 19% stake and Mauritius-based investment firm Rimco, with a 12% stake, are considering the sale.
2023-05-27T07:47:39+05:30


The company also outlined a new strategy for the coming five years with a focus on capitalizing on its market leadership in segments like SUVs, tractors and pickup trucks while scaling its growth-phase businesses five-fold during this period.
2023-05-27T07:43:25+05:30


The Aditya Birla group company's consolidated earnings before interest, tax, depreciation and amortization, though, grew only 5% on year at ₹4,873 crore, impacted by weaker realisations in some of its standalone businesses. Consolidated operating margins fell 200 basis points on year to 14%.
2023-05-27T07:39:38+05:30


The Sensex surpassed the 62,000-mark with a breakout rally underpinned by the optimistic mood in global markets. The index closed at 62,501.69, up 629.07 points or up 1.02%, from the previous close. The Nifty briefly surpassed 18,500 before closing the day at 18,499.35, up 178.20 points or 0.97%.
2023-05-27T07:25:40+05:30


Term deposit rates have gone up by about 200 basis points in the last few months as banks have had to catch up with the stronger credit growth. One basis point is 0.01 percentage point.
2023-05-27T06:37:12+05:30


The shareholders’ resolution will come up for voting at Meta’s annual shareholder and board meeting scheduled for Tuesday, May 31.
2023-05-27T06:00:00+05:30


US hedge fund Davidson Kempner (DK), Canyon Capital Partners and Varde Partners have also agreed to a three-year private credit line, with each contributing $200 million. Canadian pension fund Omers is also expected to join with $100 million while the rest will be distributed among smaller funds.
2023-05-27T05:48:35+05:30


Tata Motors and M&M had carved out their EV arms into separate subsidiaries and raised significant funds through stake sales in 2021 and 2022, respectively, at handsome valuations.
2023-05-27T05:31:09+05:30


The earnings were also hurt by the rise in exploration cost write-off, which increased 76% year-on-year to Rs 4,469 crore in the fourth quarter.
2023-05-26T22:44:37+05:30


On a sequential basis, net profit for the quarter rose multifold from just Rs 10 crore reported in the December quarter.Revenue from operations rose by a meager 2% to Rs 8,226 crore in the March quarter, as against Rs 8062 crore in the same quarter of last year.
2023-05-26T22:16:17+05:30