'Which one of us would give up our flats for development?' 'We insist that others, who are unwilling but weak, make all the sacrifices on our behalf and then we are puzzled when there is violence against the State,' says Aakar Patel.
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Cleaning up India's grubby business climate is top of the agenda for both regulators and the government.
India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 per cent in May and 48.34 per cent in June 2021. During the month under review, exports of engineering, pharmaceutical and plastic products recorded negative growth.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government will decide in August whether to sell a 5 percent stake in ONGC, a senior oil ministry official said, in a deal that would be worth $2.9 billion at current market prices.
Within a month of the Comptroller and Auditor General of India (CAG) tabling the coal block allocation report in Parliament in August last year, the Central Bureau of Investigation (CBI) filed a First Information Report (FIR) against Hyderabad-based Navabharat Power Private Ltd for the coal block allotted to it in Odisha in January 2008.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
Equity markets began the new financial year with smart gains on Friday, with the Sensex rallying over 708 points to recapture the crucial 59,000-mark following gains in index majors HDFC twins and Reliance Industries, along with foreign fund inflows. On the first day of trading in the new financial year, the BSE barometer rallied 708.18 points or 1.21 per cent to settle at 59,276.69. During the day, it jumped 828.11 points or 1.41 per cent to 59,396.62. The broader NSE Nifty advanced 205.70 points or 1.18 per cent to settle at 17,670.45.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
RBI Governor would like to wait till Budget before taking any action on rate front.
TotalEnergies will acquire 25 per cent shareholding in Adani New Industries Ltd -- the firm that houses Adani Group's new energy business -- for an undisclosed amount, the two firms said in separate statements. "TotalEnergies has entered into an agreement with (Adani Group's flagship) Adani Enterprises Limited (AEL) to acquire a 25 per cent interest in ANIL," the French energy giant said.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
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Likely to set the ball rolling for Rs 1.72-lakh-cr projects today
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
India must reckon with the possibility that it will struggle to attract higher overseas investment.
Goyal's statement comes in the wake of RGPPL board giving its approval last month for the conversion of debt into equity equivalent to interest dues of Rs 405 crore (Rs 4.05 billion).
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
Gains were led by Tata Motors amid robust sales in June along with select financials.
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
The meeting was about capex, and as the country is on the growth path, the companies were advised to increase capex, NLC India Chairman and Managing Director S K Acharya said after the meeting.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.
The index had risen over 585 points in the previous three sessions.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
