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Hindustan Times
18 hours ago
- Business
- Hindustan Times
Glad about response over concerns on draft norms on lending against gold, says TN CM
Chennai, Tamil Nadu Chief Minister M K Stalin on Friday said he was glad that the Union government has responded to concerns over RBI's draft directions on lending against gold collateral and batted for prior consultation with states on such matters. In a social media post, Stalin said: "Glad to note that @FinMinIndia has responded to the concerns raised by me in my letter to the Hon'ble Union Finance Minister regarding @RBI's draft guidelines on gold loans. Protecting the interests of small borrowers, especially those seeking loans below Rs.2 lakh such as farmers and daily earners and ensuring timely and accessible credit has been my consistent demand. While appreciating the positive consideration given to this issue, we emphasize that such policies having significant impact on poor should be arrived after due, prior consultation with States." On May 28, CM Stalin wrote to the Centre, flagging concerns and sought easing of norms related to gold loan. He had said: "Our people are simple, dignified, and resilient. Even when all they have is half a rupee, they save it carefully, adding to it bit by bit, until they can buy a single gold bead. Not for show. Not for luxury. But for emergencies—moments when there is no one else to turn to. This is not ornamental gold. It is their shield against life's uncertainties. Today, the RBI has proposed needless restrictions on gold loans, making it harder for poor and middle-class families to access credit with self-respect. This is not merely a regulation. It is a blow to their dignity and survival. At a time when many are already caught in the cruel grip of #LoanSharks and forced into #LoanApps during times of desperation, is it fair to push them further into those traps instead of protecting them? I respectfully urge Hon'ble @nsitharaman and the @RBI Governor to ease the rules on #GoldLoan. Let our people pledge their hard-earned gold with dignity."
Mint
2 days ago
- Business
- Mint
Small-cap FMCG stock GRM Overseas edges higher despite weak trends on Dalal Street; here's why
Small-cap FMCG stock GRM Overseas inched a little higher in Thursday's trading session after announced its March quarter results and converted 13,52,000 warrants into equity shares on preferential basis. At 2:00pm, GRM Overseas share price touched an intraday high to ₹ 297.95 apiece, against previous close at ₹ 295.15 on Wednesday. The FMCG stock has performed exceptionally well in last one year, almost doubling investors wealth. GRM Overseas share delivered multibagger returns by soaring over 115.37 per cent in a year. Meanwhile, the stock has ascended 48.27 per cent in terms of year-to-date. The FMCG company posted 51 per cent rise in its net profit quarter to quarter (QoQ) to ₹ 20.47 crore for the quarter ending on March 31, 2025 from ₹ 13.54 crore in the December quarter FY25. Whereas, the net profit declined 3.2 per cent on year-to-year basis from ₹ 21.16 crore in the same period a year ago. Revenue from operations also fell over by 28 per cent YoY to ₹ 291 crore in March 2025, as compared to ₹ 406 crore last year. On the other hand, total expenses for the March 2025 quarter also declined to ₹ 267.5 crore. In an exchange filing, the company further informed that the board has approved the conversion of 13,52,000 warrants into equity shares on preferential basis, worth ₹ 15,21,00,000. 'Approved the conversion of 13,52,000 (Thirteen Lakhs Fifty Two Thousand) convertible warrants into 13,52,000 (Thirteen Lakhs Fifty Two Thousand) equity shares of face value of Rs.2/- each, on preferential basis, upon receipt of an amount aggregating to Rs. 15,21,00,000/- (Rupees Fifteen Crores Twenty One Lakhs only) at the rate of Rs. 112.5 (Rupees One Hundred Twelve and Paisa Fifty Only) per warrant,' GRM Overseas said in the filing. It further added, 'Consequent to this conversion of warrants/allotment of Equity Shares, 77,18,000 warrants remain pending for conversion and these warrant holders are entitled to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs. 112.5 per warrant within 18 months from the date of warrant allotment.' Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Business
- Time of India
Eyeing trillion $ goal, T sets sights on defence, aerospace, biotech
Hyderabad: The Telangana govt will focus on three high-potential sectors - defence, aerospace, and biotechnology - to achieve its goal of becoming a trillion dollar economy by 2047. Chief minister A Revanth Reddy has said at a number of fora that the state would achieve this goal well ahead of the national timelines. Sources in the expert group working with the state govt on numerous projects told TOI that Telangana has so far followed the Karnataka model, which emphasised services as a major driver of growth. Now, the state may follow a model similar to that of Tamil Nadu, where manufacturing is expected to play a crucial role in boosting the economy. This strategic shift comes at a pivotal moment. India has recently become the fourth largest economy in the world, surpassing Japan. "One specific reason for this potential shift is availability of skilled manpower across Telangana, not just in Hyderabad. This creates an ideal situation for sectors like defence, biotechnology, and aerospace," said a senior official. For an added impetus, the state has been requesting the Centre to make Telangana part of the National Semiconductor Mission. "The government is working closely with some experts to strengthen the economy," an official added. Several prominent economists, including Nobel laureate Abhijit Banerjee and Montek Singh Ahluwalia, have visited the secretariat in recent months in a bid to steer the state towards its goal. However, experts caution that apart from identifying key sectors to boost the economy, there is a need for a strategic shift in the way the govt operates. "Freebies or welfare schemes that simply dole out cash need to be rationalised, and everyone must be encouraged to work. Job creation in the private sector is essential for achieving balance," said Krishna Reddy Chittedi, associate professor at the School of Economics, University of Hyderabad. Telangana's Gross State Domestic Product (GSDP) for 2024-25 (advanced estimates) at current prices is pegged at Rs 16,12,579 crore, reflecting a growth rate of 10.1%. This surpasses the national GDP growth rate. "At this rate, it would take Telangana more than a decade to reach the trillion dollar mark," Krishna Reddy added. INDUSTRY TAKES LEAD Industries contributed Rs.2,77,270 cr to the state gross state value added (GSVA) in 2024-25, manufacturing (47.60%) & construction (29.07%) being largest contributors State aims for 15% annual growth in MSME registrations Share of jobs in the industrial sector stood at 23%, according to Periodic Labour Force Survey for 2023-24
The Hindu
3 days ago
- Politics
- The Hindu
300th birth anniversary of Ahilyabai Holkar celebrated
The 300th birth anniversary of Ahilyabai Holkar, who ruled over Malwa territory within the Maratha Confederacy from 1767 to 1795 – was celebrated by the BJP Mahila Morcha here on Wednesday. The party's Mahila Morcha president C. Manjula, highlighted the enduring legacy of the 18th century ruler and described her as a role model for women's leadership and administration. Speaking at the event, Manjula praised Ahilyabai Holkar for her visionary leadership, stating that she invoked spiritual energy and administered the kingdom for 30 years with dedication and discipline and remains a role model for women in administration even in present times. Ms. Manjula spoke at length on the rejuvenation of major temples that was undertaken by Ahilyabai Holkar. ''She reinstalled and consecrated the Jyotirlinga at Somnath, Kashi, and other places, helped rebuild temples and other religious infrastructure across India'', said Ms. Manjula. Citing history, she said it was Ahilyabai Holkar who launched Maheshwari sarees which gave livelihood to artisans and weavers. Her initiatives and administrative measures ensured empowerment of women, and that is what constitutes Nari Shakti, said Ms. Manjula, who took a dig at Chief Minister Siddaramaiah's guarantee schemes. ''Ahilyabai Holkar empowered women while in the guise of helping the women, the Karnataka Government was making women dependent on freebies'', said She also touched upon the BJP's record on women's empowerment and said that Prime Minister Narendra Modi has introduced 33 per cent reservation for women in the Parliament. Besides, the women's self-help groups receive microfinance support from the Government without any collateral and women are being crowned as 'Lakhpati Didis''. The microfinance without entailing any collateral ranges from Rs.50,000 to over Rs.2 lakh and the turnover by enterprises run by women's self-help groups have crossed Rs.500 crore, said She said just as Ahilyabai Holkar should be a source of inspiration for women, the maharani of Mysuru Kempananjamani, who pledged family jewellery to fund the construction of the Krishnaraja Sagar dam, should also be eulogized. ''They are our real inspiration and role models and not those promoting reels and memes on social media'', said Ms. Manjula. Former MLA and BJP unit president L. Nagendra, among others were present.
Business Standard
5 days ago
- Business
- Business Standard
Volumes soar at Balkrishna Industries Ltd counter
Balkrishna Industries Ltd clocked volume of 88085 shares by 10:46 IST on BSE, a 22.78 times surge over two-week average daily volume of 3866 shares Narayana Hrudayalaya Ltd, J K Cements Ltd, Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Glenmark Pharmaceuticals Ltd are among the other stocks to see a surge in volumes on BSE today, 26 May 2025. Balkrishna Industries Ltd clocked volume of 88085 shares by 10:46 IST on BSE, a 22.78 times surge over two-week average daily volume of 3866 shares. The stock lost 7.55% to Rs.2,458.95. Volumes stood at 8001 shares in the last session. Narayana Hrudayalaya Ltd saw volume of 1.99 lakh shares by 10:46 IST on BSE, a 13.95 fold spurt over two-week average daily volume of 14257 shares. The stock increased 3.54% to Rs.1,785.50. Volumes stood at 20837 shares in the last session. J K Cements Ltd witnessed volume of 15922 shares by 10:46 IST on BSE, a 10.69 times surge over two-week average daily volume of 1490 shares. The stock increased 5.85% to Rs.5,401.00. Volumes stood at 1832 shares in the last session. Gujarat Narmada Valley Fertilizers & Chemicals Ltd clocked volume of 2.02 lakh shares by 10:46 IST on BSE, a 5.97 times surge over two-week average daily volume of 33874 shares. The stock gained 3.48% to Rs.531.20. Volumes stood at 40630 shares in the last session. Glenmark Pharmaceuticals Ltd recorded volume of 31430 shares by 10:46 IST on BSE, a 4.02 times surge over two-week average daily volume of 7824 shares. The stock lost 1.66% to Rs.1,395.00. Volumes stood at 7706 shares in the last session.
