Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Alstom Power India Ltd said it received a Rs 870-million contract by Renusagar power division of Hindalco Industries Ltd for the modernization of two of its 68 MW boilers.
The A V Birla group on Tuesday announced the acquisition of its second copper mine in Australia.
India's largest aluminium maker, the Aditya Birla group's Hindalco Industries Ltd, said on Friday it would buy copper mines in Australia from Straits Resources Ltd for A$79.80 million (US$47.11 million).\n\n\n\n
Indian Aluminium Company Ltd vice-chairman A K Agarwal on Wednesday ruled out the merger of the company with its parent Hindalco Industries Ltd.
Odisha Chief Minister Naveen Patnaik may be questioned by CBI for writing a letter of support in favour of Hindalco, an Aditya Birla group company, after its bid for coal mines was rejected by coal ministry.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
After a 10-month probe, the Central Bureau of Investigation has decided to file a closure report in the coal block allocation case involving industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh as the agency could not find any evidence in this matter.
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The award of more than 200 coal blocks to steel, cement and power companies has been at the centre of the so-called "Coalgate" scandal.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The government will now auction 23 mines, instead of 24
The Supreme Court on Thursday directed the Enforcement Directorate to file by February 8 the status report on its probe into coal scam for suspected money laundering and foreign exchange rules violations.
The much-awaited upturn in the stock market on Thursday added more than Rs 1.17 lakh crore to investor wealth, which had plunged by over Rs 4.35 lakh crore in the past four days amid heavy sell-offs.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
The court said that it would now consider the CBI's final report
The index rising for the fourth straight session surged 564 points.
The Supreme Court on Monday directed the Central Bureau of Investigation to file remaining five of the six charge sheets by March 28 in the coal block allocation scam, declining to grant more time sought by the agency for this purpose.
Forex dealers said besides increased selling of the American currency by exporters and banks, the dollar's weakness against other currencies overseas also supported the rupee, but a lower opening in the domestic equity market limited the rise.
The doubling of Clean Energy Cess from Rs 200 to 400 per tonne would further increase the input cost for domestic producers.
A special court on Monday asked the Central Bureau of Investigation to clarify whether "rule of law" was followed in allocation of coal blocks to top industrialist Kumar Mangalam Birla's Hindalco.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
The Central Bureau of Investigation has filed a progress report of its further investigation in the coal blocks allocation scam case allegedly involving former Coal Secretary P C Parakh, industrialist Kumar Mangalam Birla and others, in a sealed cover before a special court.
A court asked for further investigation into an illegal coalfield allocation case involving Hindalco Industries on Tuesday, rejecting an earlier report from the CBI that said the probe was likely to be closed.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
This is the index's biggest single-day fall in almost a month
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Companies with more than Rs 10,000 crore of debt would seek refinancing.
But the company should take extra steps to prevent pollution.
As industry voiced concern over the CBI naming industrialist Kumar Mangalam Birla in a case, Oil Minister M Veerappa Moily on Friday said investigating agencies and the judiciary must ensure that India does not become like Russia, where investors are not prepared to go and billionaires are put behind bars.
Tata Power, Sesa Sterlite and Hindustan Zinc likely to be hit.
The hike in clean energy cess is likely to impact input cost for thermal power producers
Major corporates are staring at an uncertain future after investing substantially on their projects
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