The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Fund managers say the recent fall is not going to sustain.
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
India Inc gets about Rs 67,000 crore worth of fresh orders in the Sept quarter, a rise of 45% sequentially.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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.
About a week ago, DGCA officials conducted surprise checks and grounded a Reliance Industries-owned 14-seater Falcon 900EX.
Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the Sensex pack, Vedanta rallied 3.20 per cent, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Govt wants domestic production so as to save foreign currency.
The overall breadth was neutral as 1,362 stocks advanced while 1,331 stocks advanced.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
Two major hydel projects being built by construction majors GVK and L&T have suffered severe damages in the floods which hit Uttarakhand last week.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
This metro line would be a 33.65-km rail link between Bangalore City Centre and Bangalore International Airport.
Three stockmarket experts give their best picks for the New Year.
Larson & Toubro Limited (L&T) is scouting for engineering graduates with a love for engineering, a passion for excellence and a positive outlook. Do you have it in you?
The contract, according to the sources, include two different components - one for mainframe and IT infrastructure support and management.
Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent.
L&T chairman and managing director A M naik has written a letter to Prime Minister Dr Manmohan ingh saying there is a conflict of interest in the way the defence ministry is organised.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
L&T Infra is undertaking a public issue of 'Long Term Infrastructure Bonds 2011 A-series'.
Larsen & Toubro, India's largest engineering, construction and technology company, is aggressively expanding its footprint across various places abroad
All BSE sectoral indices ended in the red, with oil and gas, bankex, capital goods and finance falling up to 3.04 per cent.
A monorail is a rail-based transportation system based on a single rail, which acts as its sole support and its guide way.
'Landmark developments herald the end of two decades of stagnation in the army's modernisation plans,' notes Brigadier Gurmeet Kanwal (retd).
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry's Export Promotion Council for export oriented units and special economic zones.
Rahul Dravid said India will have to find someone who can amass 500-odd runs in the series like Cheteshwar Pujara did the last time around.
Consortium of 10 banks, led by the State Bank of India, has sanctioned the entire debt requirement of Rs. 11.480 crore for the project.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
