Finance Minister Nirmala Sitharaman on Thursday proposed to borrow Rs 14.13 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year starting on April 1.
Until five days ago, the action committee, formed to work for the release of Rahim, could raise only a meagre amount but as the campaign intensified, help poured in from Kerala people from across the world, the organisers said on Friday.
Full list of players released, retained and traded by all ten teams in the IPL.
The commission said enforcement authorities have seized Rs 4,650 crore even before polling begins for the Lok Sabha elections and it is the "higher than total seizures" made in the 2019 polls
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
Alamgir Alam had distanced himself from the activities of Lal while speaking to reporters after the ED raids, pointing out that he had earlier served with other ministers of the state government too.
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Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
Cummins, who skipped the IPL last season, was also the most expensive buy in the 2020 IPL Auction.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
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The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
According to estimates, a total of 11.80 lakh polling stations would be required to be set up across India for Lok Sabha polls this year.
Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal. The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices. Russia's share of India's crude imports remained strong at about 35 per cent in September 2023.
There was broad-based rally with participation across sectors creating enormous wealth for investors but starting 2018, the rally got concentrated into select large-cap companies with under performance in broader markets.
Diversified entity ITC Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023, led by a strong growth momentum across operating segments. The company had posted a net profit of Rs 4,259.68 crore a year ago, ITC Ltd said in a regulatory filing. Its revenue from operations increased 7 per cent to Rs 18,799.18 crore in the period under review against Rs 17,754.02 crore in the year-ago period.
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Astronomical Rs 24.75 crore bid makes Starc most expensive player in IPL history
Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers. Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023. Bharti Airtel managing director Gopal Vittal has indicated a need for further increase in mobile services rates.
Several BJP-backed state governments have unveiled schemes targeting the poor, women, farmers and students, following the party's setback in the Lok Sabha polls.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
A VSNL statement at the Bombay Stock Exchange said that the completion of the transaction is subject to a number of conditions precedent and is expected to be over in next few weeks.
Hyderabad-based pharma major Matrix Laboratories Ltd on Wednesday said it received Rs 75 crore (Rs 750 million) as a part payment towards the settlement of a potential patent infringement suit.
Modi slammed the opposition alleging they "remember farmers once in 10 years -- just before elections".
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Of the 4.10 crore to be shared through COVAX, 1.40 crore will go to Latin America and the Caribbean nations and 1.60 crore to Asia.
The undistributed funds totalling over Rs 25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness. He faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with ponzi schemes, allegations his group always denied.
The credit disbursement in 2009-10 fiscal was nearly Rs 3.84 lakh crore (Rs 3.84 trillion) against the target of Rs 3.25 lakh crore (Rs 3.25 trillion).
Bharti Hexacom, a joint venture between Bharti Airtel and TCIL, offers mobile services in Rajasthan. Bharti owns a 70 per cent stake, while the remaining 30 per cent is held by state-run Telecom Consultants of India.
Unwilling to jeopardise its cordial relationship with the all-powerful BCCI, the England and Wales Cricket Board (ECB) has rejected a lucrative 10-year buy-out offer of their franchise-based property 'The Hundred' from former IPL commissioner Lalit Modi, the Daily Telegraph reported.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
Corporate India shelled out Rs 1,75,428 crore (Rs 1.75 trillion) as taxes, including corporate tax and the Fringe Benefit Tax, in 2007-08 financial year.
Videsh Sanchar Nigam said on Monday it as signed a share purchase agreement to acquire Direct Internet Ltd and its subsidiary for Rs 75 crore (Rs 750 million).
Warburg Pincus International is set to invest Rs 75.90 crore (Rs 759 million) for picking up 2.75 per cent in Kotak Mahindra Bank, which has also decided to increase its FII holding limit from 24 to 30 per cent.
Shares of Reliance Industries jumped over 4 per cent on Friday, helping the equity benchmark indices finish the day with smart gains. A rally in the equity also added Rs 64,723.85 crore to the company's market valuation. The stock rallied 4.29 per cent to finish at Rs 2,331.05 on the BSE.
State fuel retailers IOC, Bharat Petroleum and Hindustan Petroleum sell diesel, domestic LPG and kerosene at government dictated rates which are lower than cost of production.
