Monthly SIP inflow is Rs 6,000 crore, with a little over 1.75 million accounts
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
India has substantially increased its crude oil imports from the US, with the country's share in India's crude basket hitting a record 14.3 per cent in December, commerce ministry data showed.
At Rs 919 crore, InterGlobe Aviation, the parent firm of low-cost airline IndiGo, posted its best-ever fourth quarterly net profit in the January-to-March quarter (Q4) of financial year 2022-23 (FY23). The bottom-line, however, was lower than the Street's expectations where estimates ranged from Rs 1,160 crore to Rs 2,180 crore. On the bourses, shares of IndiGo have added just 30 paise (0.01 per cent) since the announcement of the Q4-FY23 results on May 18.
Maruti Suzuki's contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation (SMC), has touched the highest-ever figure during April-December of FY23. According to SMC's results declared on Tuesday, Maruti's share in its global revenues jumped from 33.42 per cent in April-December of FY22 to 40.93 per cent in the corresponding period of FY23.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
Lower reduction in fiscal deficit is to stimulate demand in a weak economic environment post demonetisation.
Per capita income is a crude indicator of the prosperity of a country.
Tata Steel was the day's worst performer in the Sensex pack, plunging 3.25 per cent, followed by Bharti Airtel at 3.05 per cent.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
Assessment year 2020-2021 saw returns filed fall to 69.7 million and stood at 71.4 million in assessment year 2021-2022.
According to a report by the Association of Democratic Reforms, the ruling party's assets rose to Rs 1,483.35 crore in 2017-18 over its previous financial year's declaration of Rs 1,213 crore.
The government on May 17 formed a five-member committee.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Indian cities need $840 bn investment over 15 yrs, says World Bank report.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
In the last five years, imports from HK have more than tripled -- from $5.6 billion in FY15 to $17.1 billion in FY20. In the same period, exports declined by 20 per cent -- from $13.6 billion in FY15 to $10.8 billion (annualised) in FY20.
It was primarily due to a higher trade deficit ($41.6 billion) brought about by a larger increase in merchandise import.
In absolute terms, the CAD stood at $4.6 billion in the current fourth quarter, compared with $13 billion in the year-ago quarter and $17.7 billion in the third quarter of fiscal year 2018-19.
Among individual fund houses, SBI MF was the biggest gainer in absolute terms; its AAUM rose Rs 66,090 crore, compared to its asset base in the corresponding period of FY18, reports Jash Kriplani.
RBI said the improvement in asset quality was driven by state-run lenders which saw a drop both in both GNPA and in the net NPA ratios.
The gains came on expectations that the company will post strong growth given its presence in application to peer services and the fast-growing communication platform as a service segment.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
The report, however, did not include sales of Flipkart's subsidiaries Myntra and Jabong.
That's a big change that was made possible due to corporate tax cuts. Corporation tax collection in FY22 will be lower than even the FY18 levels, reports
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
The 14th Finance Commission had recommended that states' share in the divisible tax pool be raised to 42 per cent, from 32 per cent earlier.
27 large listed firms give double-digit hikes to top executives despite a decline in net profit.
The number of issues were the lowest since FY15, compared to 45 in FY18.
As markets enter the new financial year and the long-term capital gains tax on the sale of stock investments kicks in, Abhinav Khanna, head of equities, Citi India, tells Puneet Wadhwa that he remains optimistic on the medium-to-long term growth of India, led by consumption recovery and the green shoots visible in the capex cycle.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
India has agreed to allow import of pork and pork products from the US as a part of a bilateral trade deal which will facilitate export of Indian mangoes and pomegranate to the US. The development comes months after the two governments renewed the India US Trade Policy Forum (TPF), after which both nations agreed to iron out thorny issues that included market access issues pertaining to the agriculture sector.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
CBDT feels 30% growth in income-tax not feasible.
Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2
Zomato said it has consistently gained market share over the last four years to become the category leader in the food delivery space in India in terms of gross order value from October 1, 2020 to March 31, 2021.
The airline had raised Rs 700 crore from the debt market through a non-convertible debenture issue and the same was up for interest payment or redemption on Thursday.
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