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.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
Ahilyabai Holkar, the hereditary noble queen of the Maratha Empire, was born in Chondi village of Ahmednagar district.
The Union government has approved the renaming of Maharashtra's Aurangabad city as 'Chhatrapati Sambhajinagar' and the Osmanabad city as 'Dharashiv'.
Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently. The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22). The group's gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.
Lucknow Super Giants survived a late Rinku Singh onslaught to secure a thrilling one-run win and seal their second successive play-offs berth in the IPL 2023 match.
Amit Gupta examines the taxation of dividend-paying stocks, share buybacks, and bonus shares.
IMAGES from the IPL match played between SunRisers Hyderabad and Mumbai Indians in Hyderabad on Tuesday.
India is likely to experience below-normal monsoon rainfall this year, with a 20 per cent chance of drought due to the end of La Nina conditions and the potential for El Nino to take hold, private forecasting agency Skymet Weather said on Monday.
According to a 2021 Redseer report, India's overseas education market is estimated to more than double to $80 billion by 2024.
The stock of auto component major Bosch was up 2.5 per cent on Wednesday and in the process hit its 52-week high. Expectations of higher volumes of medium and heavy commercial vehicles' (M&HCV), rise in content supplies on account of BS VI stage 2 implementation from April, and improved profitability are some of the positives for the stock. In addition to this, the company appointed a new managing director and joint managing director last week, which will come into effect from July 1.
Rajasthan Royals cruised to a nine-wicket win over Kolkata Knight Riders to resurrect their play-off hopes.
The stock of the retail chain Avenue Supermarts (Dmart) was the biggest loser in the BSE 100 Index shedding 4.35 per cent on Thursday and added to these losses on Monday by falling an additional 1.3 per cent. The Street was reacting to lower than expected operational performance by the company in the March quarter. The country's largest listed retailer by market capitalisation reported a 20 per cent year-on-year (y-o-y) growth in its top line to Rs 10,337 crore.
Analysts have predicted a 23 per cent volume growth for the auto segment between FY22 and FY25, riding on the company's differentiated EV and SUV plan. M&M is already a market leader with a 36 per cent share in electric three-wheelers, and its Zaheerabad plant in Telangana is ready to cater to demand. In the farm segment, the company plans to focus on niche electric products.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
The driver told the police that he was not aware that the body was stuck under the car and attributed it to poor visibility caused by dense fog.
Real Madrid thrashed arch-rivals and league leaders Barcelona 4-0 to reach the Copa del Rey final
The Sirsa-headquartered sect chief, who is serving a 20-year jail term for raping two of his disciples, walked out of the Sunaria prison in Haryana's Rohtak on Saturday after being granted a 40-day parole and reached Barnawa Ashram in Uttar Pradesh's Baghpat.
IMAGES from the IPL match played between Kolkata Knight Riders and Punjab Kings in Kolkata on Monday.
The March 2020 lockdown did not stop the spread of infection (as it triggered a huge reverse migration from cities), but it did help to flatten the curve and gave time to scale up health infrastructure.
More then 21,000 people have been reported dead and more then 60,000 injured after the multiple earthquakes in Turkey and Syria on February 6, 2023.
Infosys on Thursday posted a 13.4 per cent year-on-year increase in consolidated net profit at Rs 6,586 crore for the December quarter and the IT major raised its full year revenue guidance to 16-16.5 per cent. The net profit (after minority interest) stood at Rs 5,809 crore in the third quarter of FY22. The Bengaluru-based IT firm logged a 20 per cent year-on-year increase in consolidated revenue in the third quarter of the current fiscal at Rs 38,318 crore.
Chhattisgarh Congress on Sunday released a 20-point "charge sheet" against Raman Singh government, accusing it of failing to tackle Naxalism and practising corruption.
The dera chief, who is serving a 20-year jail term for raping two disciples, was granted 40-day parole on January 20.
The country can expect normal rainfall during the southwest monsoon season as a positive Indian Ocean Dipole (IOD) and a lower snow cover over the northern hemisphere are likely to counter the evolving El Nino conditions, the India meteorological department (IMD) said on Tuesday.
Kyrgios has last laugh as Djokovic clash sells out stadium in minutes
There has been a nearly 150 per cent rise in patients coming to outpatient departments with such complaints, they said.
PHOTOS of the IPL 2023 match between Sunrisers Hyderabad and Punjab Kings played at the Rajiv Gandhi International Stadium in Hyderabad on Sunday.
IMAGES from the IPL match between SunRisers Hyderabad and Delhi Capitals, in Hyderabad, on Monday.
The prosecution said it was found during their custodial interrogation that the accused were aware of the victim's body being dragged under the wheels.
Nearly 88 per cent of voting was recorded in the one-day Tripura assembly elections, which were "largely peaceful', a senior EC official said on Friday.
On Wednesday, Asha Devi, whose daughter was brutally murdered in the capital 10 years ago, met Anjali's mother in an encounter that won't leave you dry eyed. Two woman whose young daughters were killed by a cruelty that has shocked a nation.
The MHA had on Thursday directed the Delhi Police to suspend all its personnel deployed on the route following a report into the accident submitted by an inquiry committee headed by Special Commissioner Shalini Singh.
The offence attracts life imprisonment or imprisonment of either description for a term which may extend to 10 years, besides fine.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
The police have identified the accused -- the sixth person to be arrested in the case -- as Ashutosh.
The latest parole to the Dera chief, who is serving a 20-year jail term for raping his two disciples, comes three months after he was granted a similar parole.
Images from Wednesday's action in the English Premier League.
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