Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The broader market performance, however, is expected to be better by virtue of good performance of state-owned banks on a low base.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
It was during his tenure that Air India made its first operating profit of Rs 105 crore in FY17 since the merger of Indian Airlines and Air India in 2007.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
In the first 4 months of CY17, Honda has sold 14% more units than Tata Motors
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
A Goldman Sachs report said, in the past also, major crisis have led to a sharp increase in outsourcing and even offshoring particularly to India , thanks to lower wages for technology developers as compared to developed economies, and an increasing annual base of engineering graduates.
M&M's profit before tax from the farm equipment segment rose 31% last year to Rs 2,562 cr
The life insurer tinkered with its business strategy - raised the share of protection plans and reduced dependency on ULIPs in the past four years.
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.
Most positives seem to be factored into current valuations.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
Reliance on a single model begins at about 40% and goes up to 80 % in case of some companies
While Zee managed single-digit growth in revenue, HT Media's income dipped marginally, reports Urvi Malvania/Business Standard.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Recovery seen in Q4, companies continue to focus on enhancing cash flow
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
The brokerage, which previously had a target of 31,000, cited global growth concerns for revision in the target.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Some of the public banks showed improvement; much more still needs to be done
Out of the total potential loss, the share of state-run banks will be Rs 24,800 crore in FY18, while that of the private sector banks will be Rs 5,700 crore
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
In the broader market, the S&P BSE Midcap added over 1% to finish at record closing high
Gains were led by index heavyweights with Reliance Industries contributing the most.
Analysts expect inflation to peak in the first half of 2016-17 and moderate, thereafter, on the back of positive impact of monsoons
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Livestock auctions remained on hold for the majority of the lockdown as there was no clarity on the matter.
The reason why private banks will play the deposit pricing game strategically is the weakening of banks' deposits base given the competition from MFs and insurance companies due to tax-savings schemes.
According to the latest annual report for 2017-18, the percentage of the company's employees in the age group of 18-25, came down to 28.16 per cent, from 31.19 per cent in the previous financial year.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
Broader markets underperformed the benchmark indices with BSE Midcap and Smallcap indces slipping 0.8%-1.1%
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
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