All pending petitions will be cleared in keeping with the bill.
Somnath Chatterjee said he was being subjected to a "trial by insinuation" by the commission without establishing any prima facie case against him. \n
The petition was filed by a Trinamool Congress parliamentarian.
BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival - the National Stock Exchange (NSE) - which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).
The surprise action comes weeks after the broadcaster aired a two-part documentary on the 2002 Gujarat riots and India.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
While there has been no official statement related to the action, British government sources said they are 'closely monitoring reports of tax surveys conducted at the offices of the BBC in India'.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
'As these segments are growing at 25 per cent for the last three years, credit quality has been extremely good.'
Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. "So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.
'The Budget will be positive, continuing on the path of growth taken so far.'
'Our priority remains brownfield expansion, and in the next few years, we plan to increase our capacity to around 6,000 beds.'
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
The Enforcement Directorate (ED) on Wednesday temporarily sealed the premises of Young Indian (YI) in the Congress-owned National Herald office in Delhi as part of an ongoing money laundering investigation, official sources said.
Delhi Chief Minister Arvind Kejriwal 'directly used' part of the alleged Rs 100 crore generated from the 'kickbacks' of the Delhi excise policy 'scam' by staying in a luxury hotel in Goa, the Enforcement Directorate (ED) has claimed in its charge sheet filed against the Aam Aadmi Party supremo.
A bench of justices Sanjiv Khanna and Chander Shekhar quashed the Centre's notification disqualifying the AAP MLAs, saying the the EC's recommendation against the legislators was "bad in law" and "vitiated".
Indian IT services companies are likely to post a 9-12 per cent revenue growth in USD terms in FY22, helped by the strong demand for digital deals, a report said on Tuesday. However, the same will not translate into profits, because higher salaries will result in the operating profit margins for the same set of companies to come at 23 per cent from 24.2 per cent in FY21, domestic rating agency Icra said. The IT sector is one of the few sectors that have not been deeply impacted by the pandemic.
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India's top-drawer wealth managers. They add that they have been advising clients to reduce their exposure to smallcaps. Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.
The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. "India's MF industry has reached yet another milestone with the SIP book crossing above Rs 20,000 crore in April 2024.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
Mondelez, Coca-Cola, PepsiCo and Nestle India have been working on bringing down the sugar, salt, and sodium content.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
The 27 MLAs include seven legislators against whom the EC is already considering a similar plea for holding the office of parliamentary secretaries.
An earthquake of magnitude 4.8 struck 7 km north-northeast of Whitehouse Station, New Jersey, on Friday, the United States Geological Survey (USGS) reported.
IT major TCS on Thursday posted a 28.5 per cent increase in consolidated net profit at Rs 9,008 crore for the first quarter ended June 30, 2021. The country's biggest software services firm had posted a consolidated profit of Rs 7,008 crore in the same quarter a year ago. Consolidated revenue from operations increased by 18.5 per cent to Rs 45,411 crore compared to Rs 38,322 crore in the corresponding quarter of 2020-21.
The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.
The important thing to remember here is that his action reflects on him and what kind of a person he is; it does not highlight your worth, counsels rediffGURU Ravi Mittal.
'Do some profit booking and bring your equity allocation back to its original level.'
IT services major Wipro on Wednesday posted a consolidated net profit of Rs 2,969 crore for the December 2021 quarter, and said it has logged strong performance in revenues and order bookings. The net profit attributable to shareholders in the year-ago period had stood at Rs 2,968 crore, according to a regulatory filing by Wipro. On a sequential basis, its net profit was up 1.3 per cent, it added.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Kejriwal was produced in the court by the CBI after the end of his three-day custodial interrogation.
Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
The Enforcement Directorate (ED) on Tuesday raided a dozen locations including the head office of the Congress party-owned National Herald newspaper in New Delhi as part of an ongoing money laundering probe, officials said.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
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