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 [...]
Agro-chemical firm GSP Crop Science Pvt Lt is looking to launch a Rs 500-crore IPO (Initial Public Offering) by next year, according to its managing director Bhavesh Shah. The company, which needs funds for expansion of its business operation, plans to soon file a draft red herring prospectus with capital markets regulator Sebi, he said. [...]
India’s largest IT exporter, Tata Consultancy Services, was already under pressure due to FII selling, attrition issues, salary hikes and moderation of growth in Europe. Additionally, its margins contracted in Q1FY23 and missed analysts’ estimates. The IT major reported a 5.21% increase in its consolidated net profit at ₹ 9478 crores in the June quarter [...]
A participatory rally after the second wave of Covid-19 had helped the Indian stock markets to scale new heights. Once that was out of the way, the Russia-Ukraine War, rising inflation, and interest rate hikes weighed down the markets. A good number of stocks have entered the multibagger category since the onset of the pandemic [...]
S&P BSE Sensex zoomed 303 points or 0.56% to settle at 54,481 while NSE Nifty 50 index ended at 16,220, gaining 87.70 points or 0.54% on the last trading day of the week. Here are some stocks for an upside of up to 118%. Vedanta Ltd JP Morgan has a buy call on Vedanta Ltd., [...]
Gotabaya Rajapaksa's political destiny has turned a full circle from being a popular Sri Lankan president to a symbol of hatred within a short span of just 30 months. The man elected with a 60 per cent popular majority from among the Sinhala Buddhist majority is in hiding. Having fled the Presidential Palace on the [...]
Information technology stocks are likely to remain under pressure in the near-term amid headwinds emanating from the worsening economic situation in key global markets and financial market volatility, according to analysts. While the country's largest software exporter TCS reported a 5.2 per cent rise in June quarter net profit on Friday, kicking off the latest [...]
For years they tiptoed around each other but now the groups led by billionaires Mukesh Ambani and Gautam Adani will for the first time be in direct competition when they later this month participate in the auction of airwaves capable of providing fifth generation or 5G telecom services. But the rivalry between the two politically [...]
Housing sales in Delhi-NCR jumped 2.5 fold annually during January-June on revival in demand and lower base effect, while prices rose 7 per cent, according to property consultant Knight Frank India. In its latest half-yearly report 'India Real Estate: Residential and Office Market H1 2022', the consultant said sales of residential properties rose to 29,101 [...]
Geo-political instability appears to be taking a toll on the Indian startups with the total funding declining by 40 per cent to USD 6.8 billion in the April-June quarter, reveals a PwC India report. The early-stage deals comprised more than 60 per cent of the total with an average ticket size of USD 5 million, [...]
India on Sunday handed more than 44,000 metric tonnes of urea under a credit line extended to crisis-ridden Sri Lanka, as part of New Delhi’s ongoing efforts to support the island nation’s farmers and help bolster bilateral cooperation for food security, the Indian High Commission here said. Indian High Commissioner to Sri Lanka Gopal Baglay [...]
Asset management companies added 51 lakh investor accounts in June quarter, taking the total tally to 13.46 crore, on increasing awareness about mutual funds and ease of transactions through digitisation, and experts hope the ongoing financial year to be promising too. In comparison, 93 lakh accounts (or folios in mutual fund parlance) were opened in [...]
Banks and shareholders have given their approval to hive off cargo and logistics company SpiceXpress from SpiceJet airline and the bifurcation will be done by the first week of August, the carrier's CMD Ajay Singh has said. SpiceJet had on August 17 last year announced it was transferring its cargo and logistics services on a [...]
On a global level, economies are affected due to the lasting effects of the pandemic, the supply chain disruption due to the Russia Ukraine war, and the rising inflation. However, some stocks do well irrespective of an economic downturn. Defensive stocks are blue-chip companies that have a strong financial history. These stocks tend to give [...]
Exuding confidence that the price situation will gradually improve in the second half of the current fiscal, RBI Governor Shaktikanta Das on Saturday said the central bank would continue to take monetary measures to anchor inflation with a view to achieving strong and sustainable growth. Inflation is a measure of the trust and confidence that [...]
Bharti Airtel International (Netherlands) BV, which manages Airtel's Africa business, has cleared dues worth USD 450 million (Rs 3,565 crore) by purchasing notes through a tender offer, the company said on Friday. The company had issued a tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed senior notes of USD [...]
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or [...]
Tata Motors on Friday said its global wholesales, including that of Jaguar Land Rover, rose 48 per cent to 3,16,443 units in the first quarter of the current fiscal. The auto major had dispatched 2,14,250 units to dealers in the April-June quarter of 2021-22. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo [...]
The market opened in the green today as the BSE Sensex gained 398.31 points or 0.74% to open at 54576.80 while the Nifty 50 opened 140.80 points or 0.87% points higher at 16273.70. The positivity was seen in the share price of Larsen & Toubro Limited as well. The shares opened at Rs 1624 in [...]
Equity mutual funds witnessed a net inflow of Rs 15,498 crore in June amid heightened volatility in the stock market and consistent selling by Foreign Portfolio Investors (FPIs). Equity mutual funds witnessed positive momentum for the 16th straight month in June. Inflows into equity mutual funds in June was much lower compared to the net [...]
