Equity indices nursed losses for the second consecutive session on Tuesday as investors continued to dump IT, banking and FMCG stocks amid a bearish trend in global markets. Unabated foreign fund outflows and the rupee dropping to another record low against the US dollar added to the woes, traders said. Participants were also in wait-and [...]
Mutual funds focused on investing in fixed-income securities witnessed a heavy outflow of Rs 92,248 crore in June on uncertain macro environment, driven by expectations around an increasing rate cycle, higher commodity prices and slowdown in growth. This comes following a net outflow of Rs 32,722 crore in May and an inflow of Rs 54,756 [...]
Billionaire Gautam Adani-led Adani Data Networks, Reliance Jio, Bharti Airtel and Vodafone Idea have applied to participate in the upcoming 5G auction, according to a list issued by the Department of Telecom on Tuesday. The spectrum auction, scheduled to start on July 26, may see aggressive bids for some frequency bands, with the entry of [...]
Auto components major Bosch Ltd will invest over Rs 200 crore in India in the next five years in advanced automotive technologies and digital mobility space, its Managing Director Soumitra Bhattacharya has said. The company is also "quietly and cautiously optimistic about having a double-digit growth in FY2022-23 over the previous fiscal year", Bhattacharya, who [...]
The government on Tuesday will release the key data on June retail inflation which will be factored by the Reserve Bank in its next bi-monthly monetary policy to be announced in early August. The retail inflation has remained above 6 per cent since January this year forcing the central bank to go for two back-to-back [...]
SpiceJet chairman Ajay Singh was booked here for allegedly duping a businessman on the pretext of allotting him company shares, police said on Monday. Complainant Amit Arora claimed Singh has defrauded others also in a similar manner. According to the complaint, the SpiceJet chairman and managing director delivered a fake depository instruction slip (DIS) of [...]
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank [...]
The Supreme Court Monday sentenced fugitive businessman Vijay Mallya to four months in jail for committing contempt of court, saying he never showed any remorse nor tendered any apology for his conduct and adequate punishment must be imposed to maintain the majesty of the law. The apex court directed the Ministry of Home Affairs (MHA) [...]
The Madras High Court has declined to restrain Sun Pharmaceuticals Industries Limited in Nandanam here from using the word 'Respules' in its business operations. Justice Senthilkumar Ramamoorthy gave an interim ruling to this effect, while disposing of three interlocutory applications arising out of a civil suit from Cipla Limited in Alapakkam here and in Mumbai, [...]
The Delhi High Court has restrained the Centre from taking further steps concerning its order imposing a penalty of over Rs 66 crore on National Thermal Power Corporation (NTPC) for allegedly failing to comply with the “production schedule” for a coal mine in Chhattisgarh for two years. Justice Yashwant Varma issued notice on the petition [...]
