The income tax department has sought to prosecute Reliance Group Chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. The department has charged Ambani, 63, with "wilful" evasion, saying he "intentionally" did not [...]
The jewellery sector is shining bright as the sales have picked up after the pandemic and as the festive season is nearing. Analysts believe that a re-rating is on the cards as gold prices soften. Kalyan Jewellers India Ltd posted strong earnings for the March to June quarter. The company saw robust momentum in both [...]
Domestic pharma industry is expected to report moderate revenue growth of 7-9 per cent in the current fiscal, due to headwinds in export sales in the regulated markets and high-base effect in the domestic formulations business, as per rating agency CRISIL. Operating profitability will shrink another 200-250 basis points (bps) after the 130 bps decline [...]
FMCG products maker Procter & Gamble Hygiene and Health Care Ltd on Tuesday reported a 13.12 per cent decline in Profit After Tax (PAT) at Rs 42.55 crore during the fourth quarter ended June 30, on account of rising commodity costs. The company, which follows July-June financial year, had reported a PAT of Rs 48.98 [...]
SpiceJet is looking for investments from external parties, including airlines, and also plans to add seven more Boeing planes to its fleet, the carrier's chief Ajay Singh said on Tuesday. In recent times, SpiceJet has faced turbulence -- especially with many of its flights suffering technical snags -- and subsequently, the airline has faced actions [...]
The National Stock Exchange (NSE) on Tuesday warned investors not to fall prey to investment plans with guaranteed returns offered by entities Real Trader and Groww Stock. The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes [...]
The government plans to put on auction 17 mines surrendered by public sector undertakings which could not put the blocks into operation, Coal and Mines Minister Pralhad Joshi said on Tuesday. The statement comes in the wake of the government making efforts to ramp up domestic coal production to ensure adequate availability of dry fuel [...]
A year ago the shares of Alfavision Overseas India were trading at Rs 38 a piece on BSE From there it has spiked up to the current levels of Rs 278 thereby delivering a multibagger return of 619 per cent. In the last five days, the stock has added more than 13 per cent and [...]
The Indian benchmarks opened on a negative note on Tuesday. The Sensex was down 361.86 points or 0.62% and opened at 58412.01, and the Nifty was down 114.70 points or 0.66% to open at 17376. The bears also crippled the Adani group stocks as all the seven listed companies under the group were trading in [...]
The shares of Devyani International (DIL) tanked 7% to ₹ 182.50 on the BSE on Tuesday’s intra-day trade. Mauritius-based Dunearn Investments Pte Ltd is planning to sell a 2.4% stake in the quick service restaurants chain operator. Dunearn Investments Pte Ltd was among the public shareholders of the company and it holds a 16.26% stake [...]
RBL Bank on Monday said its board has approved raising up to Rs 3,000 crore to fund the lender's business growth. The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing. Besides, the board has approved issuance of 1.75 crore additional equity stock options exercisable into [...]
New Delhi, Aug 22 (PTI) A Delhi court has denied bail to businessman Ajay Ramesh Nawandar in a Rs 34,615-crore bank fraud case involving Dewan Housing Finance Limited (DHFL), on account of his possible influence on both evidence and witnesses. The court held that the accused was prima facie complicit at some stage in the diversion [...]
State-owned Bharat Petroleum Corporation Ltd (BPCL) on Monday announced the appointment of Sukhmal Jain as its director for marketing. Prior to his elevation to the board, he was the Executive Director Incharge (Marketing Corporate) in the Corporate Office and before that the head of Gas Business Unit, the firm said in a statement. A Mechanical [...]
Small-cap companies are those that have a market capitalization of less than ₹ 5,000 crores. As the name suggests, these companies are relatively small in size but have significant growth potential. However, SEBI’s rules state that all the companies that are ranked from the 251st position onwards in terms of market capitalization are automatically categorised [...]
The share price of D B Corp, a media and entertainment company escalated to hit a fresh 52-week high of ₹112.00 apiece. The shares of the company gained a whopping 17% as compared to their previous close of ₹ 95.6 apiece on the National Stock Exchange. Further, they gained 33.83 % in the past month [...]
On Monday afternoon, The Sensex was down 711.89 points or 1.19% at 58934.26, and the Nifty was down 216.50 points or 1.22% at 17542. Amid the volatility in the market, dividends are considered to be a passive source of income. Here are some stocks that will trade ex-dividend this week: Jubilant Ingrevia Limited The Stock [...]
Sanofi India Ltd’s share price took a beating in response to litigation threats and a cancer drug development setback. The finance chief of the pharmaceutical company said on Wednesday that a decline was strongly exaggerated and posed a buying opportunity for savvy investors. Sanofi India is engaged in the business of manufacturing and sale of [...]
The shares of Adani Enterprises Limited have been in the buzz for quite some time now as the stock has been making and breaking multiple record highs. On Monday, despite the volatile markets, Adani Enterprises shares gained 1.4% till 11.40 am and were trading at Rs 3,171 levels. The stock has been rallying as the [...]
An IndiGo flight made a priority landing at Kolkata airport on Sunday morning after smoke was detected in the cargo hold of the plane, officials said. The flight, 6E 2513, was flying with 165 passengers and six crew members from Delhi to Kolkata, they said. The plane was scheduled to land at Kolkata airport at [...]
The shares of Trent Limited, a Tata Group company gave multibagger returns in the past 22 years as its share price surged from ₹ 13.42 apiece to ₹ 1395.60. A few investors remain invested in companies because they buy shares and tend to hold them for a long period. If an investor would have invested [...]
