Re-rating of Axis Bank's stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank's net interest margin (NIM) expanded, against expectations, even in a tough market.
United States has said it is looking at India to see what changes can be made in certain provisions in the Nuclear Liability Bill, which was recently passed by the Parliament.
NPC director Jagdeep Ghai told reporters on Monday, "NPC, in the wake of passage of the civil nuclear liability bill, will set up a corpus of Rs 1,500 crore to provide financial security, from its cash reserve of Rs 12,000 crore (Rs 120 billion).
Science and Technology Minister Prithviraj Chavan, who is in-charge of Department of Atomic Energy, said the country lacks a law under which compensation could be awarded in the case of a nuclear accident.
rediffGURU Mihir Tanna answers your income tax queries.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
Don't solely focus on tax-saving alone.
A bench of justices Sanjiv Khanna and Dipankar Datta told Additional Solicitor General SV Raju, appearing for the Enforcement Directorate, that the hearing on Kejriwal's plea against arrest is likely to take time and therefore, the court was considering hearing the probe agency on interim bail to him.
The one message that the Congress party wants the Prime Minister's Office to take heed of, following the tumultuous first phase of this year's Budget session, is that the PMO should be more helpful in facilitating political management for the party.Despite the government bending over backwards to explain that the Civil Liability for Nuclear Damages bill was a mandatory legislation -- no matter which country India wanted to engage with in is unconvinced.
You can reduce your tax burden by wisely using partially taxable allowances, suggests Bindisha Sarang.
Standard Chartered's India strategy will focus on wealth management while credit card will remain core to its business though will avoid competition with the country's private banks, said a senior executive of the British lender. "Our focus on wealth management and affluent clients are central to our existence. "We are strong in these areas and we want to grow in these areas.
Non-compliance can also result in legal complications and disputes with the tax authorities.
Top golfer Gaganjeet Bhullar lodged a complaint against Emirates Airlines for delaying his bags, which he said affected his game. Jehangir Gai tells us what happened next.
Byju's founder Byju Raveendran on Saturday said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Raveendran said the rights issue, launched a month ago, has been successfully closed. "This was supposed to be a happy correspondence.
Kishore said the Congress and its supporters are bigger than any individual and Gandhi should not be stubborn that it must be him who will deliver for the party despite repeated failures.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
Additional Solicitor General SV Raju, representing the two probe agencies, told a bench of Justices Sanjiv Khanna and SVN Bhatti he has instructions to state that the agencies are considering making AAP an accused, invoking legal provisions on "vicarious liability" under the anti-corruption law and section 70 of the Prevention of Money Laundering Act.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above, according to an official source. Vodafone Idea (VIL) board has offered a stake to the government at a par value of Rs 10 per share. "There is a SEBI norm that the acquisition should take place at par value. DoT will clear the acquisition after VIL shares stabilise at Rs 10 or above," an official source told PTI. VIL shares are trading below Rs 10 since April 19.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
'I can feel the master's pain, because he must be sitting there and cursing and saying, 'Why was I born?''
Base metals major Hindalco's overseas subsidiary, Novelis, has submitted a draft registration with the US Securities and Exchange Commission (SEC) for the proposed public offering of promoters' shares. Novelis' sole shareholder, AV Minerals (Netherlands) NV, is a 100 per cent subsidiary of Hindalco. Novelis would not receive any proceeds from the sale. Assuming SEC clearance could go through in about 6 months.
Weakness in HDFC Bank's net interest margin (NIM) might have bottomed out in the July-September quarter (Q2-FY24), analysts said on Tuesday, as most of the merger-related one-time adjustments have been done. The bank, they believe, should be able to grow from here on, allowing the stock to reverse its underperformance. "The weak NIM print was not unexpected given the merger and regulatory impact caused by the incremental cash reserve ratio (ICRR; 5-10 bps for the quarter).
'It will be a mistake to imagine that Sidhu will be a permanent feature of the Congress' Punjab scene,' says Amulya Ganguli.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
The law officer said the money trail showed that Rs 45 crore "kickback" used in the Goa assembly elections came from four hawala routes.
The Delhi high court on Thursday refused to grant Chief Minister Arvind Kejriwal any protection from coercive action in an excise policy-linked money laundering case.
Salaried persons whose liability is fully deducted as tax deducted at source by their employer need not worry about advance tax payments, unless they have other sources of taxable income.
The Delhi high court on Wednesday refused to grant interim relief to Chief Minister Arvind Kejriwal, arrested by the Enforcement Directorate (ED) in a money laundering case linked to the excise policy 'scam', saying the matter raises important issues that cannot be 'summarily' decided without seeking the agency's stand.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Calculate the tax already paid via TDS, and accordingly arrive at your tax liability for the year.
Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers. Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023. Bharti Airtel managing director Gopal Vittal has indicated a need for further increase in mobile services rates.
Fair-trade regulator Competition Commission of India (CCI) on Thursday cleared the proposed merger of Credit Suisse Group AG with UBS Group AG. Both Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) are multinational investment banks and financial services companies founded and based in Switzerland.
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
