Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
The Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-600 million (Rs 2,500-2,735 crore). Trinity is owned by private equity investment firm Denham Capital Management.
Concerned over the ouster of the BJP-led NDA government, Malaysian companies fear the new government may go slow on the economic reforms which will be a setback to their billion dollar infrastructure projects in India.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
Prachi Dhabal Deb, who began her career as a financial analyst, but found her heart in the field of confectionery art.
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.
In the wake of the Supreme Court order on razing of the illegal twin towers of Supertech, NOIDA CEO Ritu Maheshwari on Monday said the demolition process will begin on site within two weeks. She said NOIDA (also called the Noida Authority) has already convened a meeting on Wednesday at 12 noon in compliance with the apex court directives. The SC on Monday directed it to commence "within two weeks" the demolition of the realty major's twin 40-storey towers of its Emerald Court project in Sector 93A of the city.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
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Quoting the FIR registered on the basis of a complaint, the Economic Offences Wing of Mumbai said accused Nailesh Mehta of Dev Developers in Andheri pretended himself as the partner of Zoomi Construction Company by preparing fake documents and acquired the latter's rightful TDR from the Slum Rehabilitation Authority.
Hitesh Harisinghani/Rediff.com meets the Mumbaikars protesting the decision to relocate the Metro carshed in the city's Aarey Colony forest, an ecological disaster.
In a video now viral on Facebook, the little girl from the Lohai-Malhar village in Kathua district of Jammu voices an adorable wish to Prime Minister Narendra Modi -- "Please Modi ji, ek achhi si school banwa do na (Please Modiji, build a nice school for us)".
While Indian telecom czar Sunil Mittal's Bharti did not share deal details, UK Business Secretary Alok Sharma said his government and Bharti Global, will provide $500 million each.
The Indian Air Force will carry out a mega exercise covering the Northeastern region early next month to check its combat readiness, amid a fresh spike in tension with China along the Line of Actual Control in Arunachal Pradesh.
Treesa Jolly and Gayatri Gopichand continued their impressive run, dishing out another superlative performance to advance to their second successive semi-finals at the All England Championships.
The cement industry continues to present a puzzle to investors.
The arrest of Shiv Sena MP Sanjay Raut in a money laundering case by the Enforcement Directorate (ED) was "illegal" and a "witch-hunt", a special court in Mumbai said on Wednesday while granting him bail in the Patra Chawl redevelopment matter.
The low global crude prices have helped narrow the current account deficit to just 0.2 per cent of GDP in the previous January-March quarter.
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
Ahead of his crucial talks with Russian President Vladimir Putin in Moscow, Chinese President Xi Jinping said on Monday that his peace plan to end the raging Ukraine war takes into account the 'legitimate' concerns of all parties and reflects the broadest common understanding of the international community.
Four more officers of the Hyderabad-based construction company in-charge of building the Vivekanda Road flyover, a portion of which collapsed last week, were arrested on Monday.
Chief of Army Staff Gen Manoj Pande has carried out a comprehensive review of India's military preparedness along the Line of Actual Control (LAC) in Arunachal Pradesh in his first visit to the border state after last month's clash between Indian and Chinese forces in the Tawang sector.
On the parade ground are sons of jawans, farmers, LIC agents, daily wage farm labourers, shopkeepers... all living their moment of triumph; their faces bright with the possibilities that lie ahead.
The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.
The agency was allocated Rs 835.39 crore to manage its affairs in 2021-22 which was later increased to Rs 870.50 crore in the Revised Estimates given in the Budget document released Tuesday by Finance Minister Nirmala Sitharaman.
With another rate cut unlikely to happen soon, coupled with a muted order inflow trend, investors should tread with caution.
Murthy's letter comes even as Sikka celebrates the completion of three years at the helm of India's second largest software exporter.
'We have to be prepared on the borders to withstand Chinese expansionist designs.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Pranoy squandered a one-game advantage to go down 21-17 9-21 17-21 against NG Ka Long after battling for an hour and four minutes
The 193-member General Assembly adopted the draft resolution, put forward by Ukraine and its supporters, titled 'Principles of the Charter of the United Nations underlying a comprehensive, just and lasting peace in Ukraine'.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A crackdown on shell companies, increased regulatory compliance and failure of companies to avail bank credit, and defaulting on loans are some of the reasons cited by accounting professionals for the closure of such a large number of companies
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
India has not yet condemned the Russian invasion of Ukraine and it has been maintaining that the crisis must be resolved through diplomacy and dialogue.
Sebi has restrained Saiprasad Corporation from raising funds from the public through its schemes.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
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