Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses. To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The Railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received bids to operate 29 pairs of trains with around 40 modern rakes that would entail an investment of Rs 7,200 crore.
The Sensex is expected to hit 24,500 by the end of 2014.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Financial shares were the top losers.
Yes Bank was the top gainer in the Sensex pack, soaring 24.03 per cent, after the lender said it had received a binding offer for $ 1.2 billion funding from an overseas investor. SBI, Infosys, Tata Motors, Bharti Airtel, HCL Tech and HDFC too rallied up to 7.69 per cent.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
While FMCG companies lose Rs 98,928 crore in m-cap, consumer durables stocks are down Rs 20,673 crore since November 8.
The Income Tax Department has moved the Bombay High Court to recover nearly Rs 500 crore from top stock brokers, who have managed to avoid paying income tax on the pretext of claiming depreciation on their Bombay Stock Exchange membership card.
For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore (Rs 87 billion), given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years.
Some make for good investment ideas even after a strong run-up but others could see gains fizzling.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
Since UK referendum outcome to exit European Union last Friday, 32 companies have hit record highs.
Shares of RIL ended 2.4% higher as it pips TCS to become most valued firm
Businesses coming to terms with Ind-AS (Indian Accounting Standards) implementation, GST can do without further uncertainty and costs, say N Sundaresha Subramanian & Sudipto Dey.
The company said this was 'important' to reinforce the 'complete disassociation' from its erstwhile promoters -- Malvinder and Shivinder Singh.
Blue Star Infotech has been a major loser among software stocks in the last few sessions, what with the companys Q3 results disappointing the market.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
It believes that BSE Sensex will reach 22,500 by December-end.
Tata Consultancy Services (TCS) on Wednesday announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. In 2017 and 2018 too, TCS had undertaken buyback offers of similar sizes.
Investors started booking profit at record highs in absence of cues from global markets that remained closed for the New Year holiday.
The Sensex was mainly dragged by Tata Motors, ICICI Bank, Bharti Airtel and Reliance Industries -- shedding as much as 4.60 per cent.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
The development comes at a time when Eveready is on the lookout for strategic investors, including a possible stake sale in its battery business.
While compact SUV Vitara Brezza will cost Rs 20K more, Baleno will be constlier by Rs 10K
Markets went off the rails as Sensex crashed 1,689 points and Nifty over 541 points in early session after a surprise Donald Trump win and the government's move to withdraw high value notes, but managed to pull back towards the fag-end of the day to close 339 points lower.
The company's market valuation stood at Rs 10,972 crore in morning trade.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
The top line growth for the 500 companies slowed down to 8.7 per cent.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
Technical rallies and short covering may arise only if the markets break this 500 point band
After plunging 8 per cent to Rs 486.30 in intra-day, the stock finally ended the day at Rs 491.50, down 7.01 per cent on the BSE.
Andhra Bank has informed BSE that the extraordinary general meeting of the bank is scheduled on March 10, 2003 to seek the approval of the shareholders of the bank to return capital of Rs 500 million.
As per RBI's banking licensing norms, a private bank's promoter holding has to be brought down to 40 per cent within three years of operations, 20 per cent within 10 years and 15 per cent within 15 years.
Govt to earn Rs 13,000 crore via stake sales in NTPC and IOC.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
The company will offer a total of up to 15,06,44,759 ordinary shares
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
