According to a CNBC report, Mahindra & Mahindra Limited (M&M), an Indian multinational automotive manufacturing corporation that holds a 9.25% stake in Mahindra CIE announced that it is planning to sell its stake. The company announced that it will offload a 6.5% stake in Mahindra CIE via block deals on Monday. The deal size is [...]
Mutual funds focussed on investing in fixed-income securities witnessed an outflow of Rs 13,815 crore in February, making it the third month of withdrawals in a row despite expectations that the rate hike cycle was nearing its end. In comparison, such funds saw an outflow of Rs 10,316 crore in January and Rs 21,947 crore [...]
Companies announce corporate actions like stock splits to enhance the liquidity of their shares. When a company declares a stock split, the number of shares of the company increases, but the face value of its shares decreases. Meanwhile, the market capitalization remains the same, but the market price per share gets adjusted. The record date [...]
Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the volatility in the stocks of these companies [...]
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank – which specialised in lending to technology companies – [...]
LIC's debt exposure in Adani group companies fell marginally to Rs 6,183 crore as of March 5 from Rs 6,347 crore as of December 31, 2022, Parliament was informed on Monday. In a written reply to the Lok Sabha, Finance Minister Nirmala Sitharaman said, "The Life Insurance Corporation of India (LIC) has informed that its [...]
Shares of IndusInd Bank slipped 6 percent today after the Reserve Bank of India (RBI) approved the re-appointment of Mr. Sumant Kathpalia as the Managing Director (MD & CEO). There is a mismatch observed with RBI approving the reappointment for a period of 2 years as against the board's approval for 3 years. The reappointment [...]
Digital or e-rupee worth over Rs 130 crore is in circulation on a pilot basis as of February 28, finance minister Nirmala Sitharaman said on Monday. The Reserve Bank of India (RBI) had launched pilots in digital rupee in the wholesale segment (e₹-W) on November 1, 2022 and in the retail segment (e₹-R) on December [...]
As many as 68,000 cases have been picked up for e-verification by the income tax department for unreporting or under reporting of income in tax returns for 2019-20 fiscal, CBDT chief Nitin Gupta said on Monday. Under the e-verification scheme, the I-T department informs the taxpayers about mismatch in Annual Information Statement (AIS) about financial [...]
From ₹ 310 to ₹ 738.05 apiece, the shares of this multibagger textile stock zoomed 138.08% in a month’s time. If an investor would have invested ₹ 1 lakh in the company’s shares a month ago, the value of their holdings would have been ₹ 2.38 lakhs today! With a market capitalization of ₹ 300 [...]
