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Sagar Diamonds Limited , an ISO 9001 The issue opens on Thursday and closes on Monday. Gretex Corporate Services Private Limited is the sole lead manager to the issue and Bigshare Services Private Limited is the registrar to the issue. The proceeds of the issue will be utilized for working capital requirements, general corporate purposes and issue expenses. The company is planning to import the raw diamond and convert into the polished diamond. The company exports to Hong Kong, Europe and so on. The gems and jewellery sector plays a significant role in Indian economy. It is one of the fastest growing sectors. The government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote 'Brand India' in the international market. India's gems and jewellery exports jumped by 8.95 per cent for financial year 2016-17 on recovery in demand from the United States (US), Hong Kong and the United Arab Emirates (UA...

The significance of this is the commencement of printing of documents related to the budget BUDGET NEWS   : ahead of the budget session of Parliament starting off on January 29, Finance Minister Arun Jaitley carried out the symbolic 'Halwa ceremony' on Saturday. The ceremony, which changed into accomplished at North Block right here, marks the inauguration of the formal printing of different documents regarding the Union finances for 2018-19. The 'halwa ceremony' is located to keep the secrecy of the finances coaching technique. As a part of the ritual, which has endured for long, 'halwa' is ready in a big 'kadhai' or wok and served to the complete group of workers inside the ministry. The significance of this is the graduation of printing of documents related to the price range. it's miles stated that officers from the ministry are required to live back on the printing press itself till the budget is supplied in Parliament, barri...

The FY19 Union Budget is expected to be a populist and more spending towards social sectors BUDGET NEWS   : The government is likely to stick to the medium-time period fiscal consolidation plan via focused on 2018-19 financial deficit at three in keeping with cent of GDP , a Deutsche bank record says. consistent with the worldwide economic offerings primary, the financial deficit goal for this financial 12 months is likely to be revised upward to three.four consistent with cent of GDP. "We count on the authorities to goal FY19 economic deficit at three in line with cent of GDP, from a probable upward revised 3.4 consistent with cent of GDP outturn in FY18," Deutsche financial institution said in a studies notice. in keeping with the report, the 2017-18 economic target can be breached via about zero.2 in step with cent of GDP, even after various modifications at the sales and expenditure front. The FY19 Union budget, to be announced on February 1, is pre...

The fear is that Modi is already beginning to lean more heavily on that first leg of his, Hindu nationalism, now that his economic strategy is losing some of its sheen LATEST NEWS :  The immense popularity of Narendra Modi , India’s most dynamic prime minister in decades, has always rested on two legs: Hindu nationalism and his tantalising promises to build on the country’s go-go economy. That second leg is now looking a little shaky. In the last two years, India’s consumer confidence has plummeted, construction has slowed, the fixed investment rate has fallen, many factories have shut down and unemployment has gone up. Fingers are pointing at Modi. Just about all economists agree that two of the prime minister’s biggest policy gambles — abruptly voiding most of the nation’s currency and then, less than a year later, imposing a sweeping new sales tax — have slowed India’s meteoric growth. “Things have been worsening, worsening, worsening,” said Himanshu, an ec...

Just as growth appears to be no longer a pressing problem, another familiar threat has reappeared: India's macroeconomic numbers don't look quite as stable as they should. LATEST NEWS :   You’d think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi ’s decision just over a year ago to withdraw 86 percent of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declining, as they had for several quarters; indeed, for the last month that data is available, they rose 30 percent. The Purchasing Managers’ Index expanded the fastest it has in five years. At least one international ratings agency has upgraded India’s credit rating. Most importantly, growth sped up last quarter for the first time since early 2016. There’s every reason to think it’ll bounce back towards the 7-7.5 percent range shortly. ...

Advance Estimates are used for computing Budget numbers such as fiscal deficit LATEST NEWS :  Read more about Budget 2018 : GDP decoding the growth story on Business Standard. Advance estimate of growth in gross domestic product (GDP) for current financial year will release on Friday. Advance estimates are used for computing Budget numbers such as fiscal deficit. FY18 GDP estimates, FY18 GDP advance estimates, Budget estimates, budget 2018-19, budget 2018, goods and services tax (GST),Indian economy , gross domestic product (GDP) growth estimates, Central Statistics Office (CSO), GST’s inflationary , Budget 2018: GDP decoding the growth story,news, India news,Economy & Policy News,Economy & Policy News in India ,2018-01-05, Business Standard , Business Standard News,business-standard.com The Advance Estimates of growth in gross domestic product for the current financial year, which will be released on Friday, may give the correct picture of the economy i...

Also says that note ban's impact could adversely affect its business Latest news : The country's largest lender, the State Bank of India (SBI), has expressed apprehensions that demonetisation may continue to result in slowing down of the economy and adversely affect its business. The government had discontinued Rs 500 and Rs 1,000 banknotes from November 9, 2016, and issued new Rs 500 and Rs 2,000 currency notes in exchange for the discontinued ones. The long-term impact of this move on the Indian economy and the banking sector is uncertain, SBI told institutional investors prior to its Rs 15,000-crore share sale through private placement. The effects of India's recent demonetisation decision are uncertain, which may adversely affect the bank's business, results of operations and financial condition, the bank said in the Preliminary Placement Document to investors while flagging the 'risk factors'. "The demonetisation has and may co...