Vedanta share price jumped to fresh 52-week highs at Rs 394.75 a day after Anil Agarwal said that his group’s flagship company - Vedanta Resources - will be achieving an annual operating profit of $7.5 billion within the next two years. The 50% jump in EBITDA is on the back of the group’s demerger plan, which includes reorganising Vedanta into six separate entities based on their sectors.
Open FlipThe Association of Mutual Funds in India (Amfi) and Boston Consulting Group (BCG) published a report in August 2019 titled Unlocking the ₹100 Trillion Opportunity. The mutual fund (MF) industry had under ₹25 trillion of assets under management (AUM) in July 2019. We have come a long way since then. The industry's AUM has more than doubled to ₹55 trillion as of March 2024.
Open FlipThe Reserve Bank of India (RBI) is apparently getting strict with payment aggregators (physical) with introduction of new draft regulations, which stipulate that the non-banking entities which fail to apply for authorisation and are unable to maintain the net worth of ₹15 crore at the time of applying will have to close their business down by July 31, 2025.
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