In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.
The rally in mid- and small-cap stocks has spilled over into the IT sector as well. Second and third-tier IT stocks, which historically traded at a discount to the big five IT companies, are now trading at nearly 25 per cent premium to their large-cap peers. The smaller IT companies have a price-to-earnings (P/E) multiple of nearly 38 times against the big five's current P/E multiple of around 31x.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
The tax department will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
The IT major is donning a new face for the changing times, says Ayan Pramanik.
The IT major is donning a new face for the changing times, says Ayan Pramanik.
Private lenders were among the top losers along with RIL.
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
While there has been an improvement in the overall demand environment, the other reason expected to trigger this growth is the absence of a bench strength in most companies
Financial shares were among the top Sensex gainers along with auto and pharma shares.
The broader markets are, however, outperforming the larger peer.
The S&P BSE Sensex surged 160 points to close at 25,262.
The 30-share Sensex gained 271 points to end at 28,805 and the 50-share Nifty ended up 84 points at 8,712.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
A large part of the work that CEO Sumit Gupta does is focused on educating users and the larger community about investing in cryptocurrencies, reports Neha Alawadhi.
The new web form would facilitate on-screen filing and real time data validation for seamless incorporation.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
While for clients it has led to increased outsourcing, they are no more worried about which shore the service providers are executing the project in - offshore, onshore or near-shore - because remote working has become the standard norm in the industry, giving rise to a "no shore" kind of model.
Information gathered from a person's social media account will be matched with his or her declared income.
Stricter regulations in US forces industry to look at these countries with a market size of $300 billion
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
Sector added only 200,000 employees in FY16, down from 230,000 in FY15
Facebook will now directly compete with Slack, HipChat, Yammer and a few others in this space.
Unfavourable secondary market conditions aren't a big concern for IPOs by good quality companies.
The income-tax department has created various functionalities under its Project Insight, which will provide the 360-degree profile of taxpayers, including new and non-filers to gauge their accountability and tax liability. The tax department had on March 15 put out instructions for tax officials for accessing the insight.
Sanjay Jalona, CEO & MD of LTI says the push would be to increase digital business and look at outcomes in projects for customers.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Infosys may have put the visa misuse investigations behind it through a civil settlement with the US authorities, but experts believe that the episode might drag its other peers under the scanner.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It's difficult to understand if GDP growth has actually improved.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Defence ministry incompetence hobbles development of battle-taxis for the Indian Army.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
In FY16, Infosys had 48 employees in India who were paid more than Rs 1 crore in annual compensation, as compared to 111 in FY15.
