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The Dollar Business Bureau Denmark’s jewellery manufacturer Pandora said on Friday that it would enter the Indian market and open 50 stores in the coming three years as it is pursuing an ambitious expansion target. The Indian market, one of the largest jewellery markets in the world, is worth over $40 billion a year and is likely to grow at a rate of 7% a year through 2021, the company said in its press release. However, the Indian market has traditionally been more focused on diamonds and gold than silver, the favourite material of Pandora, which makes up only 5% of the market, it added. A change in consumers’ behaviour particularly amongst the young Indians towards international brands could however, drive success towards Pandora's ...

PTI Prime Minister Narendra Modi inaugurated India's first international exchange -- India INX -- at the International Financial Service Centre (IFSC) of GIFT City on Monday, saying it will enable Indian firms to compete on equal footing with offshore firms.A subsidiary of Bombay Stock Exchange, India INX is one of the world's most advanced technology platforms with a turn-around-time of 4 micro seconds which will operate for 22 hours a day, allowing international investors and NRIs to trade from anywhere across the globe.INX will trade initially in equity derivatives, currency derivatives, commodity derivatives including index and stocks.It plans to offer depository receipts and bonds later.Modi, after opening the exchange by sounding the virtual gong, termed it as a "momentous occasion for ...

Sneha Gilada  Even as the opposition reprimands the government's disinvestment plans that are likely to jeopardize thousands of jobs, defence equipment manufacturer Bharat Earth Movers (BEML) notified the stock exchanges that the cabinet has given an 'in-principle' approval for the strategic disinvestment of 26% equity shares out of the government’s shareholding of 54.03%.  In the centre's bid to offload its poorly performing PSUs to the private sector, BEML is the first major PSU to go through disinvestment via a strategic sale. The sale is expected to deposit over 1000 crores into the exchequer's coffers. Only three such strategic sales have taken place in the last 12 years.  This privatisation hopes to bring efficiency, professionalism and improved performance in the functioning of enterprise alongside much-needed revenue.  Of the Rs 56,500 crore revenue that the government is targeting in disinvestment proceeds this financial year, Rs 36,000 crore is to come from minority ...

The Dollar Business Bureau India-based online travel company, Yatra Online Inc, has been listed on the Nasdaq stock exchange, under the “YTRA” ticker symbol with effect from Monday. Yatra said it has concluded the deal with Terrapin 3 Acquisition Corporation (TRTL), and it becomes Yatra’s partially owned subsidiary. As the part of process, Yatra has raised a primary capital of over $92.5 million from international investors, and Yatra Online Inc, the merged entity, will remain to be led by the management team of Yatra, the online travel agency said in a statement. Commenting on the development, Dhruv Shringi, Co-founder and CEO of Yatra said, “It’s a matter of great pride for us to be one of the few Indian companies to be listed on Nasdaq. ...

PTI In a mammoth clean-up exercise, markets regulator Sebi is planning to push for delisting of over 4,200 listed companies whose shares are not being traded, and promoters refusing to give exit opportunity to investors would face strict penal actions. These include over 1,200 companies whose shares are listed on national bourses BSE and NSE but where trading has been suspended for various non-compliance issues for over seven years. Besides, there are over 3,000 companies listed on various regional stock exchanges that have become defunct, Sebi Chairman U K Sinha said on Wednesday. He also warned of strong action against the auditors who close their eyes to the lapses in the financial accounts of listed firms. "So far, we have had a hands-off ...

With a view to promote 'Make in India' and following the practices in advanced countries, foreign investors will be accorded 'residency status' subject to certain conditions Source: PTI Investment limit for foreign entities in Indian stock exchanges will be enhanced from 5% to 15% on par with domestic institutions   In order to attract more foreign investment, Finance Minister Arun Jaitley on Monday proposed significant liberalisation of FDI norms in a host of sectors including insurance, pension, ARCs and stock exchanges. In the insurance and pension sectors, foreign investment will be allowed through automatic route for up to 49% subject to the guidelines on Indian management and control, to be verified by the regulators. Earlier, foreign investment up to 26% was allowed through automatic route. ...