Cairn tax demand has not reduced investors' enthusiasm: Jaitley
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
Crop loss would the highest in Karnataka (where a little more than 75 per cent of the national output comes from), followed by Kerala and Tamil Nadu.
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
The brand image, however, may not tarish further as it will have already taken the beating due to consistent injury
While a 6 million pounds (Rs 56 crore) fine has already been imposed on the Indian businessman, Rameshkumar Goenka, the Financial Conduct Authority took action against three more persons today in the same case by imposing total fines of about Rs 2 crore (Rs 20 million) on them.
This makes him corporate India's biggest donor to society.
Shahid's OTT debut, Ajith's bumper hit, and lots of romance. Sukanya Verma gives you some OTT recommendations for the week.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
India's financial hub boasts of total wealth worth $820 billion
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The Union government's offer of settling the retrospective taxation case with Cairn Energy may hinge on Vedanta withdrawing the ongoing arbitration from the Singapore Tribunal on the same issue. The government has offered to refund Cairn Energy Rs 7,900 crore that it had collected under the retrospective tax demand on fulfilment of certain conditions, including withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., would be filed. This condition is also part of the Taxation Laws (Amendment) Bill, 2021, passed by Parliament recently.
The Shahbaz Sharif family (his two wives and their children) invested PkRs 277 crore in 13 companies without having known sources of income.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Analysts say the Essar Group has been following a policy of delisting just when its businesses begin to record substantial upside, denying shareholders their share of decent returns.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
This surpassed its previous record close of 29,974.24, reached on April 5.
Investors remained cautious in the face of the expiry of November series contracts in the derivatives segment, which also dampened sentiment.
If you ignore market upheavals and stay the course, you end up making money, says Larissa Fernand
Tottenham Hotspur reached agreement to sign Argentine forward Erik Lamela from AS Roma for a club record fee of 35 million euros ($46.29 million) on Friday and also welcomed Romanian defender Vlad Chiriches.
C Vijayakumar, the reticent chief executive of HCL Technologies, India's third-largest IT services firm, was recently appointed managing director, succeeding the founder, Shiv Nadar. Back in October 2016, when CVK, as he is popularly called within and outside of HCL, was named CEO, it had been somewhat of a surprise - his elevation being the result of his predecessor, Anant Gupta, suddenly stepping down to "pursue personal interests". CVK, 53, has since taken the firm from under $7 billion to over $10 billion in revenue.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
News of all that's transpired on and off the football field
Rise in crude oil price and rally in global equities aided the sentiment
The company, which recently hit the run rate of $1 billion in gross merchandise value ahead of the target date, is the largest mobile phone retailer in the country, counting online and offline stores, estimates show.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
Sensex, Nifty end lower on global concerns.
In recent past, midcap stocks have performed well, say experts.
The Britain's ruling party is suffering a leadership challenge with Brexit Secretary David Davis and Foreign Secretary Boris Johnson dramatically resigning over their inability to support the terms and conditions drawn up to exit the European Union.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
Over 600 slots at three major airports - Heathrow, Dubai and New York's JFK International - could be at stake.
The rupee resumed higher at 61.57 per dollar against the previous close of 61.59 and dropped immediately to 61.70 on initial dollar demand from banks and importers.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
Financials are the top gainers along with index heavyweights.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
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