Sebi on Tuesday levied fines totalling Rs 20 lakh on PVR Murthy in the manipulation of global depository receipts (GDR) of Birla Cotsyn (India) Ltd and Zenith Birla (India) Ltd (now known as Zenith Steel Pipes & Industries). In two separate orders, the regulator slapped a fine of Rs 10 lakh each on PVR Murthy. [...]
Leading stock exchange BSE on Tuesday said its mutual fund distribution platform StAR MF has processed a record 2.52 crore transactions worth Rs 34,923 crore in January. The exchange surpassed its all-time highest record transactions of 2.44 crore achieved in December 2022, the exchange said in a release. The value of transactions processed in January [...]
State-run Power Grid Corporation on Tuesday posted a nearly 11 per cent rise in its consolidated net profit to Rs 3,645.34 crore in the December quarter compared to a year ago mainly on the back of higher revenues. The consolidated net profit of the company was Rs 3,292.97 crore in the quarter ending December 31, [...]
Equity benchmarks climbed in early trade on Wednesday amid an overall positive trend in the global markets and ahead of the presentation of Union Budget 2023-24. The 30-share BSE benchmark Sensex jumped 516.97 points to 60,066.87. The broader NSE Nifty climbed 153.15 points to 17,815.30. From the Sensex pack, ICICI Bank, Tech Mahindra, Asian Paints, [...]
Depending on your climate and location, there are numerous varieties of flowers that actuallybloom all year. However, picking the right one for your garden can be difficult! Our team atMerrJep.al prepared a list of perennials and annuals that will continue to bloom throughout theyear in your garden in this article. It can be difficult to [...]
Tata group hospitality firm Indian Hotels Company Ltd on Tuesday reported an over four-fold rise in consolidated net profit at Rs 403.56 crore in the third quarter ended December 2022 on the back of robust demand. The company had posted a consolidated net profit of Rs 95.96 crore in the year-ago period, Indian Hotels Company [...]
Digital payments across the country registered a growth of 24.13 per cent in a year through September 2022, as per RBI's index that measures the adoption of online transactions. The newly-constituted RBI's Digital Payments Index (RBI-DPI) stood at 377.46 in September 2022 against 349.30 in March 2022 and 304.06 in September 2021. "The RBI-DPI Index [...]
Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, [...]
Asset management companies are set to move to a shorter redemption payment cycle of T+2 for equity schemes from Wednesday. At present, funds are transferred to investors' bank account within 3 days after the completion of the redemption process. Moving to the T+2 cycle for equity schemes will benefit mutual fund investors. Akhil Chaturvedi, Chief [...]
The shares of Deep Diamond India Ltd were locked in an upper circuit on Tuesday as it gained 4.93% from the previous close of ₹ 20.30 to settle at ₹ 21.30 apiece. Deep Diamond India is engaged in the business of gold and diamond studded jewellery and operates in the consumer discretionary industry. Its shares [...]
Goods and Services Tax collection is showing a higher buoyancy than the pre-GST system, auguring well for future resource mobilisation in the economy, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Giving a 5-year analysis of tax collection pre and post-GST, the survey said the taxes which were subsumed in the Goods and [...]
The recent collapse of the crypto exchange FTX and the ensuing sell-off in the crypto markets have placed a spotlight on the vulnerabilities in the crypto ecosystem, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because [...]
Travel service provider MakeMyTrip Ltd on Tuesday reported a profit of USD 0.2 million in the third quarter ended December 2022. The NASDAQ-listed firm had posted a loss of USD 9 million in the year-ago period, it said in a statement. In the third quarter gross bookings grew by 64.4 per cent in constant currency [...]
Air conditioning and commercial refrigeration firm Blue Star Ltd on Tuesday reported a 22.79 per cent rise in consolidated net profit at Rs 58.41 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 47.57 crore in the same quarter last fiscal, it said in a regulatory [...]
The government's fiscal deficit as of end-December touched 59.8 per cent of the full-year Budget Estimate on subdued growth in revenue collections, according to finance ministry data released on Tuesday. In actual terms, the fiscal deficit -- which is the difference between expenditure and revenue -- was Rs 9,92,976 crore during the April-December period of [...]
Vedanta Aluminium on Tuesday said it has raised USD 250 million (around Rs 2,045 crore) through sustainability-linked loans from international banks to finance its capital expenditure and reduce carbon footprint. Sustainability-linked loans are debt where a portion of the interest rate is linked the borrower's ability to meet sustainability targets. The loans were granted on [...]
Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs [...]
It is the last day of January and for many, it's ‘Salary Day’. With a paycheck in hand, existing investors look to diversify their portfolios while new investors enter the market to benefit from the rapid growth and exponential returns on their investments. Out of the multiple categories of stocks, Blue-chip stocks are considered a [...]
Healthy growth in the procurement of goods and services by central and state governments through GeM portal is helping the platform to catch up with global e-commerce giants like Amazon and Flipkart, the Economic Survey said on Tuesday. The Government e-Market (GeM) portal was launched on August 9, 2016 by the commerce ministry for online [...]
Production of eight infrastructure sectors rose at a three-month high of 7.4 per cent in December 2022 against 4.1 per cent in the same month of previous year on a better show by coal, fertiliser, steel, and electricity segments, according to the official data released on Tuesday. Crude oil output, however, contracted by 1.2 per [...]
