Somaiya had on Sunday claimed he was barred from entering Kolhapur with the district authorities citing law and order as well as security concerns following his allegations of corruption against Maharashtra Rural Development Minister Hasan Mushrif.
The country's largest lender SBI on Friday reported an 80 per cent surge in standalone net profit at Rs 6.450.75 crore for the fourth quarter ended March 2021, aided by decline in bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing. Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore in the same period of 2019-20.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
Apart from the metropolis, several other parts of Maharashtra also reported a drop in night temperatures, resulting in chill and cool breeze in those areas.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering a monthly growth rate of 0.72 per cent.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Axis Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.
Start-ups don't care that mad-money funding comes to a hard stop after an IPO, observes Debashis Basu. As a listed entity, corporate actions have to take the interests of all shareholders, especially minority shareholders, into account. So far, we are not seeing any sign of it, observes Debashis Basu.
On the Sensex chart, L&T, ONGC, HCL Tech, NTPC, Axis Bank and Infosys were major gainers. NSE Nifty ended with a gain of 18.10 points at 14,956.20.
Sebi has said investment banks should direct investors to original sources such as stock exchanges, where data is publicly available.
'You may put hundreds of checks and balances but human beings are ingenious.'
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
Tata Motors on Wednesday forayed into the CNG segment with the launch of Tiago and Tigor trims, priced between Rs 6.09 lakh and Rs 8.41 lakh respectively (ex-showroom Delhi). The Tiago iCNG range is priced between Rs 6.09 lakh and Rs 7.64 lakh while the three variants of Tigor iCNG are tagged at Rs 7.69 lakh, Rs 8.29 lakh and Rs 8.41 lakh respectively. With the launch, the homegrown auto major plans to strengthen its position in the CNG market which has been growing at a fast pace. "It is very clear that the CNG segment is going to witness a steep growth over the next few years.
Tata Steel was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries. NSE Nifty advanced 33.95 points to a fresh high of 16,563.05.
The output of eight core sectors jumped by 56.1 per cent in April mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Monday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 37.9 per cent in April 2020 due to lockdown restrictions imposed to control the spread of coronavirus infection. In March this year, the eight sectors had recorded a growth rate of 11.4 per cent.
With the banking regulator lifting restrictions on HDFC Bank's digital initiatives, the largest private sector lender is now girding up to launch a clutch of customer-facing applications (apps), which will act as stepping stones in its journey to morph into a technology (tech)-led bank from a conventional one. Following repeated outages in its digital offerings, the Reserve Bank of India (RBI) had barred HDFC Bank from issuing new credit cards in December 2020 and prevented it from going ahead with its digital launches. The embargo on issuing credit cards was lifted in August 2021 and the ban on digital launches was lifted last week.
The country's largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank's net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. "After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021," HDFC Bank said in a regulatory filing.
A Nokia research showed that 4G alone constituted nearly 99 per cent of the total data traffic consumed across the country in 2020.
NTPC was the top gainer in the Sensex pack, rallying around 5 per cent, followed by PowerGrid, Asian Paints, HDFC Bank, Sun Pharma, Nestle India, SBI and Axis Bank.
'Just the fact that the biggest language at the box office was Telugu and not Hindi is startling.'
The raids are underway at three locations, including her residence in Sainik Farm. Misa Bharti and her husband Shailash Kumar are involved in an alleged benami land deals case and were called for questioning by tax officials in June.
On the Sensex chart, NTPC, Bajaj Auto, Tech Mahindra, ONGC and Maruti were among the major gainers.
While prevalent web conferencing apps have been charging fees for getting a large number of users in a session, Jio is neither charging any fee nor has put any time limit on the sessions at present.
Tata Motors, India's third largest passenger vehicle maker, took pole position in the competitive sport utility vehicle (SUV) market in October, reveals the data from industry sources. Riding high on the Punch - the sub-compact SUV offering launched on October 18 - the Tata group flagship sold a record 23,381 units in October, higher than 20,022 units sold by archrival Mahindra & Mahindra, 18,538 units sold by Hyundai Motor India, and 15,931 units sold by Kia Motors India. Utility vehicles - that include SUVs and multipurpose vehicles - accounted for almost one in every two passenger vehicles sold in India in the first seven months of the current financial year, according to the Society of Indian Automobile Manufacturers.
SoftBank-backed mobility firm Ola, announced expansion of its employee stock options (ESOP) pool to Rs 3000 crore. Ola is also allocating an additional Rs 400 crore worth of stocks to employees in the run up to its IPO. The allocation rewards Ola's high impact employees and will lead to long term wealth creation for them.
the I-T department attached a total of 12 plots of Bharti and her husband Shailesh Kumar, Bihar Deputy Chief Minister Tejaswi Yadav and ex chief minister Rabri Devi, and sisters Ragini and Chanda Yadav.
Tata Steel was the top gainer in the Sensex pack, rising around 5 per cent, followed by Bajaj Finance, Bajaj Auto, HDFC, HCL Tech and Titan. On the other hand, Maruti, ONGC, IndusInd Bank and Tech Mahindra were among the laggards.
Defying trends, the country's largest private sector lender, HDFC Bank, has shifted its asset mix significantly towards high-rated segments. As a result, its wholesale-to-retail mix has tilted heavily in favour of wholesale, even at the cost of margins. Further, it is even looking to ramp up its branch network, with an aim to service clients within a 1-2 km radius rather than the current 5-6 km radius.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March.
Among Sensex stocks, Maruti rose the most, followed by Tech Mahindra, Mahindra & Mahindra and Asian Paints. Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
On the Sensex chart, Bajaj Finance, Bajaj FinServ, SBI, IndusInd Bank, Dr Reddy's, Tech Mahindra, ITC and Kotak Bank were the prominent gainers - rising up to 7.29 per cent. NSE Nifty climbed 102.40 points to end at 15,737.75.
Madhya Pradesh Governor Ram Naresh Yadav's son Shailesh, who was recently named as an accused in the multi-crore Vyapam scam in MP, was found dead on under mysterious circumstances at his father's official residence in Lucknow.
Ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala, and eight other individuals on Wednesday settled a case related to insider trading in the shares of Aptech Ltd after paying more than Rs 37 crore. The amount included settlement charges, disgorgement of ill-gotten gains along with interest charges. The other eight individuals who settled the case are -- Rajeshkumar Jhunjhunwala, Shushila Devi Gupta, Sudha Gupta, Ushma Seth Sule, Utpal Sheth, Madhu Vadera Jayakumar, Chugh Yoginder Pal and Ramesh S Damani, according to two separate orders passed by Sebi. The orders come after the settlement applications by these perons with Sebi proposing to settle, "without admitting or denying the findings of fact and conclusions of law, through a settlement order".
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
ITC was the top laggard in the Sensex pack, shedding around 3 per cent, followed by Reliance Industries, Bajaj Finance, Axis Bank, HUL and HCL Tech. On the other hand, PowerGrid, Bharti Airtel, ONGC and UltraTech Cement were among the gainers. NSE Nifty fell 53.25 points to 14,146.25.
