Benchmark indices ended the day in the negative territory on Tuesday amid weak global market trends and rising crude prices. Falling for the third day running, the 30-share BSE benchmark ended 208.24 points or 0.33 per cent lower at 62,626.36. During the day, it tumbled 444.53 points or 0.70 per cent to 62,390.07.
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
During the quarter, revenue from cigarettes increased 10.17 per cent to Rs 4,639.17 crore.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
Encouraging results for the fourth quarter of the 2022-23 financial year (Q4FY23) have led to a big surge in the share price of DLF. The realty major closed FY23 with Rs 15,000 crore (up 107 per cent year-on-year or YoY) of pre-sales, leading to cash generation of Rs 2,500 crore (up 14 per cent YoY) and reduced net debt by Rs 1,960 crore YoY. The launch of The Arbour project in Q4FY23 alone drove sales of Rs 8,000 crore in the quarter.
'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.'
Kagiso Rabada is already in the pantheon of great South African fast bowlers, but if the Proteas play only a limited number of Tests a year, he can never surpass Dale Steyn's record of 439 wickets, reckoned Makhaya Ntini on Tuesday.
Employees of Kingfisher Airlines who have not been paid salaries for the past 17 months on Thursday threatened to launch an indefinite hunger strike from Monday demanding stringent action against the defaulting company.
The IPL brand value, according to the international brand valuation firm, touched $8.4 billion in 2022 versus $4.7 billion reported in 2021.
The luxury car market leader will be producing the new-generation cars, sedans, SUVs, and AMG performance cars at one facility.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Genuine investments identified so far is Rs.1.08 cr out of around Rs 24,000 cr.
Benchmark indices bounced back after falling in early trade on Thursday and logged the fifth day of gain amid a decline in crude oil prices and foreign funds inflow. The 30-share BSE Sensex climbed 284.42 points or 0.51 per cent to settle at 55,681.95. During the day, it jumped 340.96 points or 0.61 per cent to 55,738.49. The broader NSE Nifty went higher by 84.40 points or 0.51 per cent to 16,605.25.
The government has detected over Rs 1 lakh crore of undisclosed income in the last financial year, a figure more than double as compared to the search and seizure action undertaken by the Income Tax department during 2012-13 to check black money.
It is to be noted that the total cases referred under CDR increased to 19 in the second quarter from 16 in the first quarter of the current fiscal.
Top corporates have paid more advance tax in second quarter this year.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
CREDAI Chairman Lalit Jain said a long term status quo on interest rates would not help prospective home buyers.
Sahberi village ruling to hit sentiment in Noida Extension, where projects worth Rs 40,000 crore are being executed.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
The Bharatiya Janata Party candidate and spokesperson Meenakshi Lekhi filed her nomination papers from the New Delhi constituency on Friday and declared her assets worth over Rs 34 crore which includes wealth of her husband and two children.
Essel Group, Reliance Jio, Fortis and 17 others on Thursday signed initial pacts to invest over Rs 39,000 crore (Rs 390 billion) in Uttar Pradesh, with Chief Minister Akhilesh Yadav promising the investors all possible support.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The prime minister's gifts to the temple are estimated to cost Rs 4.09 crores!
Mumbai Police sources on Wednesday said that though the matter is still under investigation, what they found is that beneficiaries received their certificates but with different dates and locations of vaccination.
This week, as the I-T department scanned the deposits, reality hit them: Only a minuscule percentage of the Jan Dhan accounts had been used for money laundering.
The entire world is taking up the habit of 'namaste', Modi said.
The Cabinet Committee on Economic Affairs has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Electronics and hardware exports clocked year-on-year growth of 3.90 per cent to touch Rs 8,000 crore (Rs 80 billion) this fiscal, Electronics and Computer Software Export Promotion Council said on Monday.
On Friday, the stock was the worst hit among the 30 blue-chips on the Sensex
IPL: TV remains relevant but be more takers for digital medium
Valuation of TCS, ITC declines in the week
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
Key stock indices Sensex and Nifty declined over 1 per cent at close on Monday due to heavy selling in banking, auto and FMCG shares amid weak global market trends and continued foreign fund outflows. Reversing its previous session's gains, benchmark BSE Sensex tumbled 638.11 points or 1.11 per cent to settle at 56,788.81. During the day, it tanked 743.52 points or 1.29 per cent to 56,683.40. The broader NSE Nifty fell by 207 points or 1.21 per cent to end at 16,887.35 as 42 of its constituents declined.
The Centre has put the blame on state governments while state governments complain that money is not released for the proposals given by them to the Empowered Committee that has been tasked with recommending proposals to be funded under this framework.
