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India's services sector growth quickened in June from May's five-month low, amid a stronger rise in new orders and an unprecedented expansion in international sales, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.2 in May to 60.5 in June, pointing to a sharp expansion in output. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
The National Testing Agency, however, denied any irregularities and said the changes made in the NCERT textbooks and grace marks for losing time at the examination centres are some of the reasons behind the students scoring higher marks.
Bots don't suffer from the same nervousness that real matches do. This makes every conversation with a bot almost flawless and smooth, alerts rediffGURU Ravi Mittal.
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
While other backward classes had a share of 9 per cent, there were no scheduled tribe billionaires.
'Two people have been killed and the driver got bail and was given junk food to eat.' 'Why is he being given such treatment?'
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
The extensive campaigning tours and related events undertaken by Delhi Chief Minister Arvind Kejriwal indicate that he does not appear to be suffering from any serious or 'life threatening' ailment, a Delhi court has held while denying him interim bail.
'Avoid rushing into any financial transactions or disclosing personal information.'
Kejriwal had alleged he was not being administered insulin in jail leading to "alarming" rise in his blood sugar levels.
The MF investor count, which stood at around 38 million in April 2023, has surged by 19 per cent in the past year.
Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term.
Form 16 contains details of salary income, deductions, and exemptions.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
Long-term investors should never stop their SIPs during market corrections.
Both the teenager's father, realtor Vishal Agarwal, and Dr Taware have been arrested in related cases following the accident of May 19 where two IT professionals were killed when the car allegedly driven by the drunk 17-year-old crashed into their motorbike.
The Ministry of Heavy Industries (MHI) has debarred Hero Electric and Benling India, two defaulters under its flagship Faster Adoption and Manufacturing of Electric Vehicles in India Phase-II (FAME-II) scheme, from participating in any of its incentive programmes in future. This action follows the ministry's findings that the phased manufacturing programme (PMP) guidelines were violated by these two companies, senior officials told
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
The Reserve Bank of India (RBI) has updated Know Your Customer (KYC) norms for politically exposed persons (PEPs) who transact with regulated entities (REs), seeking to comply with the recommendations of intergovernmental organisation Financial Action Task Force (FATF). PEPs are individuals entrusted with prominent public functions by a foreign country, including the heads of states/governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials, said the RBI. This change is expected to provide more clarity to undertake Customer Due Diligence (CDD), said the RBI in a communication to REs.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
'More than investors, fund houses, and advisors have raised caution and limited flows on small-and mid-caps.'
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible oil business, has received the notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, according to a regulatory filing made by the company on April 26.
Ramnaresh Sarwan foresees a mass exodus of the Caribbean players to mainland America where the game has got a major push with hosting of the T20 World Cup.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
The Punch.ev achieved the highest score point ever recorded by any vehicle to date, scoring 31.46 out of 32 for adult occupant protection and 45 out of 49 for child occupant protection.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
Making a comeback from surgery at 37 years of age in a physically demanding sport like squash is tough to say the least but recent Padma Shri awardee Joshna Chinappa is determined to get back on the PSA Tour at the earliest.
India's foreign exchange reserves declined in the week that ended on April 12, after having risen for the seventh straight week to hit an all-time high of $648.56 billion. As per the latest data released by the Reserve Bank of India (RBI), the country's foreign exchange kitty declined by $5.40 billion to $643.16 billion in the April 12 week. India's foreign currency assets (FCA), the biggest component of the forex reserves, declined by $6.51 billion to $564.65 billion, the central bank's weekly statistical data showed.
Adani Group's market capitalisation on Wednesday regained $200 billion-mark (Rs 16.9 lakh crore) after its listed firms gained Rs 11,300 crore as investors reposed faith on the company denying any wrongdoing in supply of coal to Tamil Nadu power company. With Rs 11,300 crore gain on Wednesday, the apples-to-airport conglomerate gained Rs 56,250 crore in market capitalisation in the last two trading sessions, stock exchange data showed.
From the Sensex basket, Titan, Reliance Industries, Asian Paints, Tech Mahindra, IndusInd Bank, UltraTech Cement, Wipro and ITC were the major laggards. ICICI Bank, Infosys, Bajaj Finserv, Tata Steel, Axis Bank, Bajaj Finance, Nestle and Mahindra & Mahindra were among the major gainers.
The Securities and Exchange Board of India (Sebi) has asked fund houses operating smallcap funds with a large corpus to share data on their holdings in the total free float of smallcap stocks, according to sources. This is part of the stress tests that the regulator wants fund houses to undertake amid a surge in inflows into smallcap schemes and growing concerns about valuations. Free float refers to the quantum of freely available shares for trading on the stock market.
Wipro's new CEO Srinivas Pallia will receive an annual remuneration of up to $6 million (about Rs 50 crore), according to a regulatory filing by the Bengaluru-headquartered IT company. Earlier in April, Wipro announced the appointment of Pallia as its new CEO and MD, following the sudden resignation of Thierry Delaporte. Delaporte's annual salary of over Rs 80 crore at Wipro had made headlines last year.
The universe of stocks trading at a 12-month forward price-to-earnings (P/E) multiple of 50x or more has swelled by 2.5x to 104, indicating the growing froth in the market. In March 2023, the number of stocks with a P/E of 50x and 100x stood at 41 and 3, respectively, which has now grown to 104 and 9, according to an analysis by Kotak Institutional Equities (KIE).
'Sectors like e-commerce, small finance, housing finance, and healthcare are in great favour, and people are paying a PEG ratio of up to 5, which is dangerous.' 'Wealth destruction is inevitable.'
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