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".
There are no Jet flights to and from Kolkata, Patna, Guwahati and other airports in the region. It also cancelled flights to London, Amsterdam and Paris from Mumbai, New Delhi and Bengaluru scheduled for April 12.
Striking a different note from its peers, US brokerage Bank of America Securities has maintained that the Reserve Bank will leave rates unchanged next week, recognising growth-focused and capex-driven fiscal expansion, which though poses huge price pressure and interest rate risks later. The RBI's rate setting panel Monetary Policy Committee (MPC) will begin its deliberations next Monday and announce the policy moves on Wednesday (February 9) in the backdrop of a massive spike in bond yields post the Budget. Almost all major central banks are in the process of hiking rates to tame inflation.
India's widening current account deficit (CAD), driven by the massive spike in commodity prices led by crude oil, is set to put pressure on the fragile recovery, warns a brokerage report that has revised upwards its CAD forecast to $45 billion or 1.4 per cent of GDP by March. According to a report by British brokerage Barclays, the worries arise from the fact that the trade deficit has been jumping continuously since July. From an average monthly trade deficit of $12 billion till June, it has jumped to $16.8 billion in July-October, with September showing the highest-ever trade deficit on record at $22.6 billion, the report said.
American Ursula Papandrea will continue to lead the sport's governing body as Acting President.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
India's fertiliser subsidy bill is likely to shoot up by 55 per cent to record Rs 2.5 lakh crore this fiscal as the government will provide additional funds to make up for the spike in cost from higher import price, top sources said on Thursday. The government will ensure that there is no shortage of fertilisers in the country during the kharif (summer-sown) and rabi (winter-sown) season and it is already in talks with major global producers to import key soil nutrients, they added. According to the sources, Union Chemicals and Fertilisers Minister Mansukh Mandaviya is likely to visit many countries, including Saudi Arabia, Oman and Morocco, soon to secure imports on both short and long term basis.
According to a new subsidy sharing formula, the payout of upstream oil producers like ONGC is to be reduced to the extent of Rs 4,500 per tonne oil development cess they pay to the government, sources privy to the development said.
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
If the credit card is not used judiciously, it can cause havoc with one's personal finances, warns Sarbajeet K Sen.
US Deputy National Security Adviser Daleep Singh also referred to the 'no limits' partnership between Moscow and Beijing and said no one believes that Russia would come running to India's defence if China breaches the Line of Actual Control.
The MHA's decision came about a fortnight after the Taliban's takeover of Afghanistan and many Afghans arriving in India fearing retribution from that country's new rulers.
Wistron, which earlier pegged the losses at Rs 437 crore, later notified the Taiwan stock exchange that the total losses were around Rs 50 crore.
The top court termed the Rs 10 crore compensation paid by the Republic of Italy over and above the payment already made as "reasonable and adequate".
Game streaming is becoming a serious professional choice for youth, as it allows them to make good money.
'We will take tough calls where needed in the interest of doing what is right.'
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
Of the 22 planes it operated, 16 were on the domestic routes and the rest were deployed in the international routes.
The report said the use of debit cards would allow the ICC Anti-Corruption sleuths to keep trackof all financial transactions during the tournament by players, team and match officials.
Asserting that Uttar Pradesh has undergone a complete transformation under his government, chief minister Yogi Adityanath said on Sunday that there have been no riots since 2017, strict action has been taken against the mafia and the state is in the frontline of implementing welfare schemes, ensuring the ease of doing business and fighting the COVID-19 pandemic.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
The strike by a Hellfire missile in Kabul on August 29, which was launched in an effort to kill ISIS-K planners, instead killed 10 civilians, he said.
'This is a good time to restructure your portfolio because the sectors and stocks that performed in the last bull market may not perform as much now.'
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
In Federal Court papers filed this month and reviewed by Reuters, Tendulkar said Sydney-based Spartan Sports International agreed in 2016 to pay him at least $1 million a year to use his image, logo and promotional services to sell "Sachin by Spartan" sporting goods and clothing.
CA said in a statement it would ensure elite men's and women's teams were "appropriately and prudently resourced" but chairman Earl Eddings declined to clarify whether the nation's high-performance staff and programmes would be unaffected.
Diplomatic sources in Islamabad said that Gen Bajwa was accompanied by the Inter-Services Intelligence chief Lt Gen Faiz Hameed.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
DCC is the answer to your currency woes says K Veeraraghavan.
The decision wasn't surprising as almost all the senior players in unison, had made it clear that the contracts offered by the Sri Lanka Cricket wasn't to their liking
As per Western Union's study on overseas education, 22 per cent students prefer new and unconventional study destinations such as Ireland, Turkey and Spain.
'Demand is wonderful. We have crossed 10 million on many days.' 'The Swedish trade commissioner recently said, "You guys are vaccinating the entire Sweden in one day".'
The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021. The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves.
Foreigners and NRIs would now be able to book train tickets in India online by using international debit and credit cards through IRCTC website.
Kohli had argued that the batsman should be declared out if the ball is hitting the stumps, even if marginally.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
India's current account surplus moderated to $15.5 billion or 2.4 per cent of the GDP in the July-September quarter of the current fiscal, the RBI said on Wednesday. The same was at $19.2 billion or 3.8 per cent of the GDP in the preceding three-month period on account of a rise in the merchandise trade deficit, the RBI said in a statement on 'Developments in India's Balance of Payments during the Second Quarter (July-September) of 2020-21'. It is for the third consecutive quarter that India's current account remained in surplus. In the last quarter of 2019-20, the surplus was $0.6 billion. Current account deficit/surplus reflects the difference between the outflow and inflow of foreign exchange in a country's current account.
