The Enforcement Directorate Friday said it has attached gems, jewellery and bank deposits worth Rs 253.62 crore of some Hong Kong-based companies of fugitive diamond merchant Nirav Modi as part of a money laundering probe. Some assets of Nirav Modi group of companies in Hong Kong were identified in the form of gems and jewelleries lying in private vaults and bank balances in accounts maintained there and these have been provisionally attached under sections of the Prevention of Money Laundering Act (PMLA), the federal probe agency said in a statement. The amount kept in banks amounts to $30.98 million and Hong Kong dollars 5.75 million, which is equivalent to Rs 253.62 crore (as on July 22, 2022), it said.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
The Bahujan Samaj Party declared that it did not receive any donation above Rs 20,000 during 2021-22 as it has been declaring for the past 16 years, the ADR claimed.
Investors' wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
The Gujarat Anti-Terrorist Squad has seized 75.3 kg of heroin estimated to be worth Rs 376.5 crore from a container near the Mundra port in Kutch district, an official said on Tuesday.
Sixteen people in five Jharkhand districts have been killed by a tusker in the past 12 days, with four in a single block of Ranchi district on Tuesday, forest officials said.
The country's largest carmaker Maruti Suzuki India (MSI) is planning to invest around Rs 18,000 crore on a new manufacturing facility in Haryana, as per a top company official. The new plant would replace the company's Gurugram-based facility and is expected to have an installed production capacity of 7.5-10 lakh units per annum. While confirming the Rs 18,000 crore investment plan, MSI chairman RC Bhargava told PTI that the company had always planned to shift the Gurugram facility to a nearby location.
Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets. Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil and other commodities and relative outperformance of Indian equity markets. Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly.
Telecom operator Vodafone Idea on Tuesday reported narrowing of its consolidated losses to Rs 6,563.1 crore for the fourth quarter ended March compared to same period of the previous year, while its realisation per user or ARPU improved sharply on a sequential basis. The losses were at Rs 7,022.8 crore in the year-ago period, according to a company filing. Its revenue from operations rose 6.6 per cent year-on-year to Rs 10,239.5 crore in Q4 FY22.
Electronics major Samsung has received orders for around 1.4 lakh units of its premium smartphone Galaxy S23 worth a total of Rs 1,400 crore on the first day of its pre-booking for the device, a senior company official has claimed. Samsung India, Senior Vice President for Mobile Business, Raju Pullan told PTI that the pre-booking for Samsung Galaxy S23 is almost twofold compared to the previous version of the smartphone Galaxy S22. "We have clocked almost 1.4 lakh units as pre-book in the first 24 hours and this is almost two times of Galaxy S22.
Contributions to mutual fund schemes through systematic investment plans or SIPs remain unfazed from the market volatility in 2022 with inflow growing to Rs 1.5 lakh crore in 2022, a surge of 31 per cent from a year earlier, due to higher retail participation. In comparison, an inflow of Rs 1.14 lakh crore through the route was registered in 2021 and Rs 97,000 crore in 2020, data with the Association of Mutual Funds in India (AMFI) showed. Going ahead, SIP numbers are expected to continue to remain strong in 2023 as investors are increasingly appreciating the importance of regular investing through the route, Kaustubh Belapurkar, director - manager research at Morningstar Investment Adviser India, said.
Under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, the Centre provides an annual financial benefit of Rs 6,000 to eligible beneficiary farmers in three equal four-monthly installments of Rs 2,000 each.
To mark the completion of administering of 100 crore COVID-19 vaccine doses, the largest khadi tricolour in the country, weighing around 1,400 kg, will be displayed at the Red Fort on Thursday, official sources said.
Equity mutual funds attracted Rs 6,120 crore in August, the lowest level in 10 months, amid a volatile stock market environment. This was the 18th straight month of inflows in equity mutual funds but the pace of inflow has been declining over the past few months. The net inflows in August were lower compared to Rs 8,898 crore in July, Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Friday.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
IPO market hopes to come out of slump in festive season, reports Sundar Sethuraman.
Equity investors became poorer by over Rs 5 lakh crore in early trade on Thursday as domestic benchmark indices tumbled mirroring weak trends in global equities. The 30-share BSE benchmark Sensex tanked 1,154.78 points to 53,053.75 in early deals tracking weak global markets, persistent foreign fund outflows and a spurt in crude oil prices. The weak broader market trend pulled down the market capitalisation of BSE-listed firms by Rs 5,02,731.03 crore to Rs 2,50,74,714.78 crore in early trade.
Krishnappa Gowtham was bought by Chennai Super Kings (CSK) in the mini-auction of the Indian Premier League for Rs 9.25 cr.
The estimated project cost of the executive enclave which will house a new prime minister's office (PMO) has gone up by over Rs 100 crore to Rs 1,316 crore as the CPWD floated a fresh tender cancelling its earlier one, according to the agency's bid document.
Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800-acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum. The first set of vehicles are expected to roll out from the facility in 2025.
Investors saw their wealth rise by more than Rs 3.96 lakh crore on Wednesday as stocks continued their rally for the second straight session amid the Reserve Bank reiterating its accommodative stance and easing concerns over the Omicron variant of the coronavirus. The 30-share Sensex soared 1,016.03 points or 1.76 per cent to close at 58,649.68 and all the constituent stocks, except for two, closed in the green. Most of the rate-sensitive auto, banking and realty stocks registered gains during the day's trade. While the BSE Auto index rose 2.24 per cent, BSE Bankex went up 1.61 per cent and BSE Realty spurted 1.72 per cent.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Two Adani group companies -- Adani Enterprises and Adani Transmission -- have uprooted the traditional leader Reliance Industries in annual wealth creation in 2022 so far, while the top 100 of them created a massive Rs 92.2 lakh crore of wealth, according to a report. However, Reliance Industries has smashed all records to emerge as the largest wealth creator during the five-year period ending March 2022, says the leading brokerage Motilal Oswal in its 27th annual wealth creation study. The Gautam Adani group companies have been rallying to dizzying heights in the year as the group snapped up many assets and diversified into newer areas.
Digital financial services firm One97 Communications' Managing Director Vijay Shekhar Sharma has purchased 1.7 lakh shares of the company worth Rs 11 crore, according to a regulatory filing.
India's top oil and gas producer ONGC on Friday reported a tripling of net profit in the June quarter as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates. Oil and Natural Gas Corporation's (ONGC) standalone net profit at Rs 15,205.85 crore, or Rs 12.09 per share, in April-June, compared to Rs 4,334.75 crore, or Rs 3.45 a share, in the same period a year back, according to a stock exchange filing by the company. Sequentially, the profit was higher than the Rs 8,859.54 crore net profit of January-March.
The top 10 valued firms added a total Rs 1,56,317.17 crore to their market valuation last week, helped by across the board rally which catapulted the benchmark index Sensex to the record 60,000 mark for the first time. During the last week, the 30-share BSE benchmark rallied 1,032.58 points or 1.74 per cent. The BSE Sensex made history on Friday by reaching the 60,000-mark for the first time ever. The market capitalisation (mcap) of Reliance Industries zoomed Rs 58,671.55 crore to reach Rs 15,74,052.03 crore. The m-cap of RIL went past Rs 16 lakh crore mark in intra-day trade on Thursday following a rally in its share price.
The CG and ATS personnel seized the boat Al Sakar which had 50 kg heroin on board, in the Arabian Sea, the official said.
The country's largest insurer LIC is the fifth most valuable company in the country with a market capitalisation of about Rs 5.54 lakh crore. Life Insurance Corporation (LIC) made a tepid stock market debut on Tuesday following a mega IPO which fetched Rs 20,557 crore to the exchequer. The shares listed on stock exchanges at over 8 per cent discount over its issue price of Rs 949 apiece.
Investors' wealth has jumped Rs 9,57,201.52 crore in the last three days of rally in equity market as stocks continued to march higher amid the Budget-led euphoria. The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued. This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
Investors became poorer by over Rs 4.47 lakh crore on Friday as markets faced severe drubbing, mirroring weak trends in global equities. The 30-share BSE benchmark dived 866.65 points or 1.56 per cent to settle at 54,835.58. During the day, it tumbled 1,115.48 points or 2 per cent to 54,586.75.
Baba Ramdev-led Patanjali Ayurved-owned Ruchi Soya on Thursday hit the capital market to raise Rs 4,300 crore through its follow-on public offer (FPO) as it aims to become a debt-free company. The issue closes on March 28. The price band has been fixed at Rs 615 to Rs 650 per share. Addressing a press conference here, Ramdev said the company has launched its FPO despite volatility in the stock market because of the war between Russia and Ukraine.
The country's largest lender State Bank of India (SBI) on Wednesday reported a 69 per cent jump in its consolidated net profit at Rs 8.889.84 crore for the second quarter ended September 30 on account of decline in bad loans. The bank's net profit was Rs 5,245.88 crore in the July-September quarter of previous fiscal, SBI said in a regulatory filing.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
Axis Bank on Thursday reported a 54 per cent jump in its standalone net profit to Rs 4,117.77 crore for the quarter ended March 2022. The country's third-largest private sector lender had posted a net profit of Rs 2,677.06 crore in the year-ago period. The total income (standalone) rose to Rs 21,999.58 crore in the January-March period of 2021-22 against Rs 19,035.12 crore in the same period of 2020-21, Axis Bank said in a regulatory filing. For the full 2021-22, the net profit nearly doubled to Rs 13,025.48 crore from Rs 6,588.50 crore in 2020-21.
The market capitalisation of Tata Consultancy Services (TCS) on Wednesday breached the Rs 13.5 lakh crore mark -- the second company after Reliance Industries Ltd to achieve the feat. At close of trade, the market valuation of TCS stood at Rs 13,53,667.85 crore on BSE. The company had touched the Rs 13 lakh crore valuation level on August 17, when its market capitalisation (m-cap) stood at Rs 13,14,051.01 crore.
The government will this week sell up to 1.5 per cent of its stake in the country's top oil and gas producer ONGC to raise about Rs 3,000 crore. The Offer For Sale (OFS) by the government will be open on March 30 and 31, Oil and Natural Gas Corporation (ONGC) said in a stock exchange filing on Tuesday. "The promoter (the government) proposes to sell up to 94,352,094 equity shares of the company, (representing 0.75 per cent of the total paid-up equity share capital of the company) on March 30, 2022 (to non-retail investors) and on March 31, 2022 (to retail investors) with an option to additionally sell 94,352,094 equity shares (in case of oversubscription)," it said.
Four of the 10 most valued domestic firms together added a whopping Rs 231,320.37 crore in market valuation last week, with market heavyweight Reliance Industries contributing the most to the overall gains. Last week, the Sensex jumped 884.57 points or 1.61 per cent. While TCS, Infosys and ICICI Bank were the other gainers from the top-10 pack, HDFC Bank, HUL, LIC, SBI, HDFC and Bharti Airtel faced erosion from their market valuation.
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&M said in a regulatory filing. EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.
The Department of Telecom (DoT) has slapped a penalty of Rs 2,000 crore on Vodafone Idea and Rs 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. When contacted Bharti Airtel spokesperson said, "We are deeply disappointed with the arbitrary and unfair demand based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
