Sebi on Wednesday ordered the attachment of bank and demat accounts of Sahara Group chief Subrata Roy and three others to recover Rs 6.48 crore for violating regulatory norms by two group companies. The recovery proceedings have been initiated against these four persons for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs) by two group companies. Apart from Sahara, others whose bank and demat accounts were attached are Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava.
India's largest IT services firm Tata Consultancy Services (TCS) is mandating its employees to be back in office for three days a week. Teams will have to work with their team leaders, and the human resources team which three day's best suits them. In an email that went out to employees over the past two days, which Business Standard has seen, said: "As part of our return to office initiative, all TCSers are expected to work from office at least three days in a week."
Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.
Nawazuddin Siddiqui, who played Irrfan's friend and colleague named Shaikh in The Lunchbox, has only words of praise for the film, its director and co-star.
Jofra Archer rates himself "about 80 percent" fit ahead of his long-awaited England return, but the fast bowler is determined to get himself back in the kind of shape that saw him play a starring role in the 2019 Ashes and Cricket World Cup.
The player draft for the much-awaited Global T20 Canada 2023 was held in a hybrid-form in Mumbai.
A special court here on Thursday rejected Videocon founder Venugopal Dhoot's plea which claimed that his arrest by the Central Bureau of Investigation in the alleged loan fraud involving former ICICI Bank CEO and MD Chanda Kochhar was illegal. The CBI court also rejected applications of Chanda Kochhar and her husband Deepak Kochhar for home food, beds, mattresses and chairs. The court directed jail authorities to provide them diet food in consultation with the medical officer.
Benchmark indices ended nearly 1 per cent lower on Wednesday, tracking a weak trend in global markets and continuous foreign fund outflows. The 30-share BSE Sensex fell 509.24 points or 0.89 per cent to settle at 56,598.28. During the day, it tanked 621.85 points or 1.08 per cent to 56,485.67. Similarly, the broader NSE Nifty declined 148.80 points or 0.87 per cent to end at 16,858.60.
While Brijlal Khabri, former BSP MP from Jalaun, is UP Congress Committee chairman, former UP cabinet minister and Mayawati's once close confidant Naseemuddin Siddiqui heads the party's state media department. Completing the ex-BSP troika, Nakul Dubey, former UP cabinet minister in the Mayawati dispensation (2007-12), is one of the six UP Congress regional presidents. He is reckoned among the most active of the three.
Vedanta Limited (Vedanta) helping its parent and group holding company Vedanta Resources to deleverage its balance sheet has started to strain its balance sheet. Vedanta's gross debt (consolidated) was up 24.3 per cent year-on-year (YoY) in FY23 and reached a six-year high of Rs 66,628 crore by the end of March. Similarly, its net debt went up 20.3 per cent YoY to Rs 45,706 crore at the end of FY23, up from Rs 38,228 crore a year ago; it was the highest since FY20.
Equity benchmarks continued to remain weak on Monday with the Sensex and Nifty falling over 1 per cent each, dragged down by bank stocks and negative global market trends. The 30-share BSE Sensex, which had started the trade on a weak note, tumbled 872.28 points or 1.46 per cent to settle at 58,773.87. During the day, it slumped 941.04 points or 1.57 per cent to 58,705.11. The broader NSE Nifty declined 267.75 points or 1.51 per cent to finish at 17,490.70.
India's largest two-wheeler maker by volume - Hero MotoCorp (Hero) - posted a better-than-expected operating performance in the January-March (fourth quarter, or Q4) quarter of 2022-23 (FY23). Riding on higher average selling prices which were up 5 per cent year-on-year (YoY) and volume growth of 7 per cent, the company registered a 12 per cent growth in revenue to Rs 8,306 crore. The company sold 127,000 units in the quarter, largely driven by domestic sales which were up 11.6 per cent, while exports saw a sharp fall of 57 per cent over the year-ago quarter.
In signs of increasing differences, Jet Airways' winning bidder Jalan Kalrock Consortium on Tuesday asked the airline monitoring committee's authorised representative Ashish Chhawcharia not to issue any communication on behalf of the grounded carrier without approval of all the members of the committee. Amid the continuing uncertainty over the fate of Jet Airways, which shuttered operations in April 2019, the consortium on Tuesday wrote a letter to Chhawcharia. The latest development comes more than a week after Chhawchharia reportedly shot off a letter to Sanjiv Kapoor, asking him to refrain from using the title of CEO as he was only a CEO-designate.
Axis Bank's results for the fourth quarter of the 2022-23 financial year (Q4FY23) were skewed due to large one-off charges related to its acquisition of Citi's retail business. Axis reported a loss of Rs 5,730 crore on account of exceptional items of Rs 12,350 crore (net of tax) towards Citi's acquisition, policy harmonisation etc. Excluding this one-off, the adjusted net profit or profit after tax (PAT) would be Rs 6,630 crore, up 61 per cent year-on-year (YoY).
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
State BJP spokesperson and OBC Morcha national general secretary Nikhil Anand came out with a stinging statement against the young Rashtriya Janata Dal leader in response to a press conference held by the latter.
The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned expensive.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
'Everyone's favourite show Mirzapur is returning with a third season in which I am reprising my role as Beena Tripathi.'
RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank's handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation. "We prevented a 'complete collapse of the economy' by keeping rates lower and stayed away from premature tightening," Das said speaking at the annual FIBAC conference of bankers in Mumbai.
Indrani is in a buoyant and energetic frame of mind these days -- in a full-on Mood Positive. She has a tell-all book titled Unbroken out, that she terms as an 'eet ka jawab kalam se' and appears in media interviews all over the place, when she is not kick-boxing, doing yoga, or travelling, visiting temples, or floating in shikaras on Srinagar's Dal Lake.
A sneak peek into the party.
The Supreme Court on Wednesday agreed to hear on March 3 an appeal of the Tamil Nadu government against the Madras high court order permitting the Rashtriya Swayamsevak Sangh (RSS) to take out a march in the state.
'Yellow Bus is a heart-breaking story based on a real incident and will strike a chord with mothers across the world.'
Dominic Xavier mourns the extraordinary Pulitzer Prize-winning Indian photojournalist Danish Siddiqui who was murdered by the Taliban in Kandahar, Afghanistan, July 15, 2021.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
Uttam Ghosh salutes Danish Siddiqui, the incomparable photojournalist who was murdered by the Taliban and whose images of our times will live on for eternity.
Action, drama, thriller and rom-coms, this week has a lot of entertainment coming up on OTT as well as in theatres.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial easing of cost pressure, according to a monthly survey released on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 55.7 in November, up from 55.3 in October, signalling the strongest improvement in operating conditions in three months. The November PMI data pointed to an improvement in overall operating conditions for the 17th straight month.
Nine members of a family were among the deceased in the first incident which took place around 11.15 pm on Wednesday, when Mumbai experienced heavy rains throughout the day, at the New Collector Compound on Abdul Hamid Road in the Malwani area of suburban Malad, the officials said.
'Although perhaps not with a greater majority, and maybe even a slightly reduced majority in the Lok Sabha.'
Analysts have turned cautious on Cipla, as the recently issued form 483 by the US FDA with eight observations to its Pithampur (Indore) plant is expected to delay the launch of the company's key generic - Advair - in the US. The Indore plant contributes around 5 per cent of Cipla's revenues, as per analysts' estimates. While the respiratory product, which is used to treat asthma, had cleared the pre-approval inspection of the regulator at the Indore unit; the final approval could be unlikely until the company clears the recent US FDA observations, analysts say.
The MP claimed that Siddiqui's radio station was funded by US-based Pakistanis and the Pakistan government.
Benchmark indices Sensex and Nifty gave up early gains to close in negative territory on Thursday dragged down by IT and pharma stocks which fell amid fears of recession in the global economy. The 30-share Sensex opened higher and rose further to touch a day's high of 60,676.12 on gains in auto and capital goods shares. However, it gave up all early gains and later closed 412.96 points or 0.68 per cent lower at 59,934.01.
The Supreme Court will hear on April 5 a batch of PILs challenging the validity of certain provisions of a 1991 law that prohibits filing of a lawsuit to reclaim a place of worship or seek a change in its character from what prevailed on August 15, 1947.
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
The BSE benchmark Sensex climbed 326.84 points on Monday, tracking gains in global equity markets and buying in index majors ICICI Bank and Hindustan Unilever. The 30-share BSE index gained 326.84 points or 0.62 per cent to settle at 53,234.77. During the day, it jumped 394.06 points or 0.74 per cent to 53,301.99. The NSE Nifty went higher by 83.30 points or 0.53 per cent to close at 15,835.35.
Siddiqui, a Muslim cleric who launched the ISF last month, addressed a mega rally at the Brigade Parade Ground in Kolkata on Sunday, expressing gratitude to the Left for keeping 30 seats for his party to contest as part of the alliance.
