Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
A love triangle between reality and imagination? A courtroom turned into a reality television? Animation, satire or science-fiction? What would you like to watch on OTT this week?
Birsa Munda International Hockey Stadium in Sundargarh district will be packed to the rafters during the FIH Men's Hockey World Cup.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
Then, in the 10m air pistol mixed team competitions, India's top pair comprising Manu Bhaker and Chaudhary too came overall second among 43 pairs, shooting a combined score of 580 out of a possible 600.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
Software giant Wipro's Azim Premji donated Rs 9,713 crore or Rs 27 crore a day to retain his top rank among Indian philanthropists in FY21. Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes. Mukesh Ambani of Reliance Industries, India's richest man, came third on the list with a Rs 577 crore contribution and was succeeded by Kumar Mangalam Birla with Rs 377 crore.
The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a "grave threat" and "value destructive" to the organisation collectively built over 20 years, the promoters said pledging to "unconditionally oppose" the hostile takeover attempt.
Gavin Larsen says if he could rein in the batsmen of 1990s era even with his military medium pace it was because of his skipper Martin Crowe's tremendous leadership style and his faith in the bowlers.
The open offer is slated to commence on June 17 and close on June 28
RCB play Mumbai Indians in the IPL's opener on April 9.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
On the Sensex chart, index heavyweight HDFC rallied over 8 per cent. Other prominent gainers were IndusInd Bank, Mahindra and Mahindra, Asian Paints, Bajaj Finance, HDFC Bank and Ultratech Cement.
In a deal that had marked India's first-ever hostile takeover bid in the IT space, L&T had bought 20.32 per cent shares in Mindtree from V G Siddhartha and his coffee enterprise for over Rs 3,000 crore in March. Nalanda India Fund and Nalanda India Equity Fund have also sold majority of their holdings in Mindtree in L&T's open offer.
The combined net sales of 42 listed construction and capital goods companies that have declared their third-quarter results so far were down 2.3 per cent year-on-year in Q3FY21 while core operating profit was up just 4.9 per cent YoY during the quarter.
'Revival is happening slowly.' 'But that is, if the pandemic is controlled.'
With two defeats from their opening two games, the Danes are now only two wins from improbable glory.
Larsen & Toubro (L&T) on Wednesday said it has secured a large contract to construct the country's longest road bridge across river Brahmaputra connecting Dhubri in Assam to Phulbari in Meghalaya. The contract was bagged by the company's subsidiary L&T Construction. As per the company, a large contract is worth Rs 2,500-5,000 crore.
Michael Clarke has been honoured in the Queen's Birthday list for Australia with the former cricket captain recognised for both his sporting career and community work. The 39-year-old, who retired from cricket in 2015, was appointed an Officer in the general division of the Order of Australia, the citation on the Governor General's website said.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
'Once finished, the project will reduce the travel time between Mumbai and Ahmedabad to just over two hours.'
Among the Sensex constituents, Larsen and Toubro emerged as the top performer with a gain of 2.76 per cent after the company announced winning large contracts from domestic clients.
Despite unprecedented levels of uncertainty in Samvat 2077, investors have little to complain about on the returns front. The BSE Sensex delivered returns of 38 per cent in this period, while the Nifty registered a return of over 40 per cent. As is the case in bull markets, companies in the small- and mid-capitalisation basket outperformed the benchmarks, with returns almost twice those of frontliners.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
L&T was the top gainer in the Sensex pack followed by M&M, SBI, Titan, Infosys, Bharti Airtel and Ultratech Cement.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Some are innovators, some have inherited their family business and some are at the helm of big corporate houses. They are all successful in their own stride. Can you identify these business leaders? Take this quiz to find out
The army has long been deficient in artillery, the modern battlefield's most lethal killer, says Ajai Shukla.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Mindtree on Thursday said it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the IoT and Industry 4.0 space. The acquisition would enable Mindtree to capture opportunities in the IoT and Industry 4.0 market by leveraging NxT Digital Business capabilities to cross-sell and create holistic solutions for new prospects as well as for existing clients, a regulatory filing said. Capability in this space will bolster Mindtree's vision to leverage existing digital strengths and aim to become a 'Go-to business transformation partner' for clients, it added.
The tunnel would reduce the travel time to the Ladakh region by 15-20 per cent and would come up close to the Atal tunnel near Rohtang Pass, reports Megha Manchanda.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The Sardar Patel Motera Stadium in Ahmedabad is spread over 63 acres, with a seating capacity of 1.10 lakh people. It overtakes Melbourne Cricket Ground, which can accommodate 90,000 people.
List of French Open men's singles champions:
Infrastructure firm Larsen and Toubro on Thursday said it would form a joint venture company with the South Africa-based Befula Investments to explore opportunities in the power sector in the African nation.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
