Moody's Investors Service has changed Tata Steel's outlook to positive from stable. The outlook change to positive shows the domestic steel giant's track record of delivering a solid operating performance while maintaining conservative financial policies and the likelihood that upward rating pressure will build over the next 12 months if the recent performance and credit [...]
Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. The month-on-month rise in spending through cards indicates a pick-up in economic activity. The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders [...]
Capital markets regulator Sebi has imposed a penalty of Rs 1 lakh on Bharti Infratel, now known as Indus Towers, for flouting rules pertaining to employee stock option schemes. In its order, Sebi found that Bharti Infratel violated the provisions of the SBEB (Share Based Employee Benefits) by not appropriating the excess 5,32,862 shares of the [...]
The National Anti-profiteering Authority (NAA) has found Indiabulls Real Estate guilty of not passing on over Rs 6.46 crore input tax credit benefits to homebuyers by commensurate reduction in prices post rollout of GST. Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, [...]
Bajaj Auto Ltd on Monday said its board has approved a share buyback programme for an aggregate amount of up to Rs 2,500 crore. The board of directors of the company, at its meeting held on Monday, approved the proposal for buyback of the fully paid up equity shares of the company with a face [...]
ICICI Lombard General Insurance Company on Monday said it will settle the MSME clients' admissible claims of up to Rs 5 lakh within 10 days of completing the claims survey. This marks the International MSME Day observed on June 27 to recognize the contribution of these industries. The claims settlement process is a first-of-its-kind service [...]
New Proptech startup PropShare has raised USD 47 million (around Rs 367 crore) from investors including WestBridge Capital to ramp up hiring, strengthen technology and offer more asset classes for investments on its platform. Bengaluru-based PropShare, which was founded in 2016, is a technology-driven real estate investment platform that enables investors to purchase commercial real [...]
V Krishnamurthy, a former chairman of steel PSU SAIL and Maruti Udyog Ltd (now Maruti Suzuki), passed away on Sunday at the age of 97 in Chennai. Krishnamurthy passed away at his home in Chennai, one of his former colleagues informed, according to a SAIL statement. His last rites will be performed on Monday. V [...]
State-owned Hindustan Copper Ltd's board will meet next week to consider a proposal to raise up to Rs 500 crore by issuing debentures. "A meeting of the board of directors of Hindustan Copper Ltd (HCL) will be held on 30th June 2022 to inter alia, consider and recommend resolutions seeking approval of the shareholders of [...]
IT services firm Infosys gave capital return of over Rs 24,100 crore (about USD 3.1 billion) in 2021-22 with a total dividend of Rs 31 per share along with share buyback of over Rs 11,000 crore, company's co-founder and chairman Nandan Nilekani said on Saturday. While speaking at the 41st Annual General Meeting (AGM) of [...]
