Former PM Manmohan Singh moved the SC against a special court order summoning him as accused in coalgate case.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
Hindalco Industries won Dumri mine in Jharkhand
Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
Former Prime Minister Manmohan Singh is said to have been examined by Central Bureau of Investigation in the coal block allocation case relating to Hindalco but neither he nor the agency was willing to confirm it.
The marquee names include Hindalco, three Tata group companies and Colgate.
The FIR relates to allocation of Talabira II and III coal blocks in 2005.
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.
Global expansion to drive the company's fortunes
Ajit Mishra answers reader queries on the stock market.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
The Central Bureau of Investigation has questioned T K A Nair, advisor to Prime Minister Manmohan Singh, in connection with alleged irregularities in allocation of coal blocks, which included granting of a block to Hindalco at Talabira despite it being rejected by a screening committee of the coal ministry.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Former Coal Secretary P C Parakh apparently failed to specify any "public good" on file notings when he reversed his earlier position of rejecting Hindaclo's application for coal block in Odisha.
Probe into alleged irregularities in allocation of Talabira-II coal blocks has gained momentum as CBI has started questioning top executives of Aditya Birla Group and were likely to quiz former Coal Secretary P C Parakh next week.
Rising prices of international coal - both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said brokerages.
The Central Bureau of Investigation on Tuesday filed a fresh status report in a sealed envelop in the Supreme Court on coal block allocation scam giving details of the ongoing probe in which companies, business tycoons and bureaucrats have come under its scanner.
A special court on Friday asked the CBI as to what was the "hurry" in filing a closure report in the coal blocks allocation case in which it had earlier lodged an FIR against top industrialist Kumar Mangalam Birla and others.
The BSE index closed down 0.18% at 28,659, its lowest since February 11.
Budget 2014-15 has done away with the tax sunset clause of March 2014.
The Central Bureau of Investigation was on Tuesday directed by a special court to record statements of former Prime Minister Manmohan Singh, who was holding charge as Coal Minister in 2005, and others in a coal blocks allocation scam case allegedly involving top industrialist Kumar Mangalam Birla.
.jpg)
An advocate on Thursday moved the Supreme Court seeking directions to the Central Bureau of Investigation to name Prime Minister Manmohan Singh in its FIR filed against industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh in a coal block allocation case.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The Central Bureau of Investigation has filed a progress report of its further investigation in the coal blocks allocation scam case allegedly involving former Coal Secretary P C Parakh, industrialist Kumar Mangalam Birla and others, in a sealed cover before a special court.
Hindalco has done very well with Rs 900 crore (Rs 9 billion) of ebidta in June quarter.
The Central Bureau of Investigation is likely to file its status report in the coal scam before the Supreme Court on Tuesday stating details of its 14th FIR against Hindalco and others and also progress in the remaining 13 cases.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
Recovery in bluechips and gains in European markets helped the rally.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
The Supreme Court on Wednesday stayed the summons to former Prime Minister Manmohan Singh and 5 others by a trial court over the coal scam.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms.
CEOs fear any change in status of the mines will mean disruption in production, loss of investment and increased production cost for user industries.
The special court has asked the Central Bureau of Investigation if the then coal minister was examined by it in a coal scam case involving Kumar Mangalam Birla and others.
Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances