Billionaire Gautam Adani's group on Monday listed out details of the $2.87 billion stake sales in group firms since 2019 and how $2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming in to the conglomerate through 'shell companies'. While investors such as Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) invested $2.593 billion in group firms such as Adani Enterprise Ltd and Adani Green Energy Ltd (AGEL), promoters sold stake in Adani Total Gas Ltd and AGEL to raise $2.783 billion. "These funds were reinvested by promoter entities to support the growth of new business and in portfolio companies such as Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd," the group said.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
The government's total liabilities rose to Rs 128.41 lakh crore in December quarter from Rs 125.71 lakh crore in the three months ended September 2021, according to the latest public debt management report. The increase reflects a quarter-on-quarter increase of 2.15 per cent in October-December 2021-22. In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to Rs 1,28,41,996 crore at the end of December 2021.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
From taxation of EPF contributions to new wage code, life won't be the same in FY22.
There is no reason for a child with no dependents to have insurance because insurance is put in place to provide for the child in the event of a parent's untimely death and not the other way around, says Amar Pandit.
The increase in India's military spending was "mainly a result of growing personnel and operations costs" which made up almost 80 percent of the total military budget in 2023, the SIPRI report claimed.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
The case has been registered against entities such as the Halal India Private Limited Chennai, Jamiat Ulama-i-Hind Halal Trust Delhi, Halal Council of India Mumbai, Jamiat Ulama Maharashtra and others for allegedly exploiting religious sentiments to boost sales by providing halal certificates to customers of a specific religion, the UP government said in a statement on Saturday.
The Indian equity market clocked record average daily turnover (ADTV) in both the cash and derivatives segments in February amid a spike in volatility. The ADTV for the cash segment for both the exchanges combined came at Rs 1.27 trillion, while the same for the derivatives or the futures and options (F&O) segment stood at Rs 483 trillion in the previous month. The volumes for both cash and derivatives have almost doubled from a year ago on the back of rising retail participation in the world's fourth largest equity market.
Right to apprenticeship, legal guarantee for MSP, passing a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, a nation-wide caste census and scrapping of Agnipath scheme are among the promises made by the Congress in its Lok Sabha polls manifesto released on Friday.
West Bengal Chief Minister Mamata Banerjee on Tuesday alleged that the Bharatiya Janata Party-led government at the Centre was not disbursing funds under the PM-Kisan scheme to peasants in the state despite the Trinamool Congress administration having sent the verified names of farmers to it.
Centre took Rs 1,002 bn from here in 2017-18, sharply up from Rs 904 bn a year before and Rs 123.6 bn in FY14
Additional Sessions Judge Hardeep Kaur was hearing the arguments regarding the applications. Special Public Prosecutor Atul Shrivastava cited a Supreme Court judgment and said the accused had to approach the police commissioner, who would then form a committee regarding the same.
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.
Foreign portfolio investors (FPIs) pumped in Rs 1.7 trillion into domestic stocks in 2023, one of the highest net inflows ever witnessed during a calendar year, of which 25 per cent went into the direct buying of stocks. Data provided by depository NSDL revealed that Rs 44,950 crore of the total FPI flows last year went into primary issuances. A large portion of the FPI investments through the stock exchange route went into block deals, thereby reducing the actual investments made via direct buying of stocks. Last year saw selldowns or block deals worth Rs 2 trillion.
24/7 Customer, a $70 million BPO services provider, said that it planned to tap the capital market, but not in the immediate future.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
'Where in the world you get 12.5 per cent return of interest?'
To fund infrastructure projects in the public-private-partnership model, the forthcoming Budget could lay down some broad contours on the setting up of debt funds, which will provide investment for the core sector.
Currently investment of up to Rs 1.50 lakh in PPF is exempt from the Income Tax Act under 80C.
Every young diploma and degree holder in the country will have the right to apprenticeships in the private and government sectors, he said.
Mossad agents negotiating the potential renewal of the ceasefire deal between Israel and Hamas left Qatar on Saturday due to an impasse in the talks.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
The Union finance ministry will meet CEOs of public sector banks to discuss issues related to cybersecurity in the wake of the Rs 820 crore (Rs 8.2 billion) fraud that hit Kolkata-based UCO Bank last month.
West Bengal Chief Minister Mamata Banerjee on Thursday said there is no alternative to the Trinamool Congress, and no other party can take its place in the state.
Any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the Centre and the states.
The stock market regulator's definition of large, mid, and small-cap companies has irked mutual fund managers, reports Samie Modak.
The insurance brokerage had experience of settling claims in Jammu and Kashmir and Visakhapatnam in Andhra Pradesh during natural catastrophes earlier this year.
To highlight the achievements and programmes of the government, the Union Cabinet on Wednesday allocated a fund of Rs 630 crore to the information and broadcasting ministry, of which over Rs 200 crore could be spent in the current financial year.
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
The summons were sent to Singham recently on his personal email ID and also through the Chinese diplomatic channels after the ED routed them through the ministry of external affairs, the officials said.
The Supreme Court, examining whether states can sub-classify the Scheduled Castes and Scheduled Tribes for the grant of a quota within a quota, said on Thursday that the state governments cannot be selective in granting reservation benefits to backward classes as it will lead to a dangerous trend of appeasement.
The guidelines have been prepared in line with the National Education Policy (NEP) 2020 that has envisioned that top universities in the world will be facilitated to operate in India.
