The reason is believed to be a 19% increase in interest cost.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The Survey shows fiscal consolidation despite slowdown in growth.
Vijayan, who filed his nomination on Monday, submitted he has immovable assets worth Rs 51.95 lakh, including two plots with a house. He has movable assets valued at Rs 2.04 lakh including Rs 78,048.51 in his bank account in the SBI, Thalassery Branch, 1000 shares worth Rs 10,000 in Malayalam Communication Ltd and shares worth Rs one lakh at KIAL. According to the affidavit, his total income is shown as Rs 2,87,860 for 2020-21.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Sensex, Nifty put up a good show in closing trade.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
'I'm 79 + now, and I've been doing all this since my late 20s.' 'Sometimes the ideological war extends to the home as well.' 'Many nights I couldn't sleep when someone close to me uttered the smallest insult.' 'It would cause me a lot of pain. But one has to be honest to oneself.'
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
The revised estimated expenditure for FY20 has been pegged at Rs 26.99 lakh crore and receipts at Rs 19.32 lakh crore, she said.
On Monday, RBI announced that 26 entities, including Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital, L&T Finance and Bajaj Finserv, applied for grant of bank licences.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Notwithstanding the challenges posed by the pandemic, the deal street remained buoyant pushing the overall deal value to a three-year high of $90.4 billion during the first nine months of 2021, a 35.1 per cent increase in value over the same period last year, according to an industry report. During the third quarter ending September, total deals grew by a tepid 3.8 per cent, according to the leading provider of financial markets data and infrastructure globally Refinitiv, an LSEG Business. The report also noted that IPOs alone grabbed as much as $9.1 billion of the deal value during the year.
DFS writes to departments that haven't responded to RBI's request for information.
In debt private placements, firms issue debt securities or bonds to institutional investors to raise capital.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
She recited a Kashmiri verse, which was part of a poem by Sahitya Akademi award winner Pandit Dinanath Koul. She rendered the verse in both Kashmiri and Hindi. Besides, the minister quoted woman Tamil poet Avvaiyar, Tamil poet Thiruvalluvar, a verse from Raghuvamsa by Kalidasa, as well as late finance minister Arun Jaitley while talking about the Goods and Services Tax (GST).
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
The move is likely to help 4.59 lakh housing units across the country.
RBI would alert banks to exercise caution on their exposure to the real estate sector according to the process usually followed, sources said.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank (LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official. While placing LVB under a moratorium and then issuing a draft amalgamation scheme on November 17, the RBI had said it would issue the final merger scheme on November 20 (Friday) so as to help complete the resolution for the 94-year-old lender by December 16. However, as of 2200 hrs on Friday, the central bank did not issue the final merger scheme. When contacted, a senior RBI official told PTI that the same would now be issued early next week.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
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In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
UTI, HDFC, Reliance MF and SBI MF already source 17-25% of funds from small towns.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
If everything goes as expected, Arya, now a second year graduation student of a Thiruvananthapuram college, would not only become the new mayor of Kerala's capital, a position held by several significant personalities in the past, but also the youngest ever mayor in the country.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
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