India Inc raised Rs 47,720 crore (Rs 477.20 billion) through various debt instruments during the first six months of the fiscal 2004-05 even as central public sector undertakings lagged behind the private sector and state-level undertakings in the re
Pat Cummins took 10 wickets to lead Australia to Pakistan series triumph
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
The government has set a target of adding 1.3 crore income tax filers in the current financial year against 1.1 crore new filers added last year.
'I have trained Ravish Kumar, Virender Sehwag, Harbhajan Singh, Irfan Pathan...' 'But if I approach somebody for work, I never get it.'
As many as 56 firms collectively mopped up Rs 17,283 crores through IPOs during the April-September period of 2016-17.
Last month, Puma roped in Shami as its brand ambassador, joining the likes of Virat Kohli and Usain Bolt on its roster.
Fundraising through the issuance of shares to qualified institutional investors has seen hectic activity in the first half of the current fiscal year (FY24), with 20 companies mobilising over Rs 18,400 crore, more than four-fold from the year-ago period, on positive investors' sentiments. Moreover, the robust trend of Qualified Institutional Placements (QIPs) in the first half of the fiscal year 2023-24 is expected to persist throughout the second half of the year too, Sanjay Moorjani, Research Analyst at SAMCO Securities, told PTI. Prashant Rao, director and head of equity capital markets, Anand Rathi Investment Banking, said that market and investor sentiments play an important role for these issuances.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
The income tax department has also launched a faceless e-assessment scheme to eliminate interface between an assessing officer and a taxpayer.
Union excise duty collection dropped 18 per cent in August year-on-year at a time when the overall central tax kitty rose about 94 per cent before devolution to the states. The mop-up from Union excise duty declined to Rs 23,576 crore in August this year compared to Rs 28,816 crore in the same month a year ago. On the other hand, total tax collection rose to Rs 2.9 trillion in the month as against Rs 1.5 trillion in August 2022-23, shows the data released by the Controller General of Accounts (CGA).
Mehidy and Najmul Hossain Shanto (59 not out) combined for 97, and though Rahmat Shah pulled off a spectacular one-handed catch to end Mehidy's knock, the damage was done as Bangladesh eased to victory.
Macroeconomic data announcements, global trends and trading activity of foreign investors would guide momentum in the equity market this week, analysts said. Markets ended a five-week losing streak and gained nearly a per cent last week, helped by a sharp rebound on Friday. Last week, the BSE benchmark jumped 500.65 points or 0.77 per cent and the Nifty gained 169.5 points or 0.87 per cent.
Life Insurance Corporation has mopped up over Rs 5,200 crore (Rs 52 billion) from Varishtha Pension Bima Yojana, but its market share from other products dipped further to 87.76 per cent till January.
Reflecting buoyancy in revenue sector, the central government's gross tax collection grew by over 18 per cent to Rs 1,94,231 crore (Rs 1942.31 billion) in the first nine months of this fiscal mainly due to robust growth in direct tax mop-up.
Gujarat Chief Minister Narendra Modi on Tuesday targeted Prime Minister Manmohan Singh over the preparations for the Commonwealth Games, saying even if he mops the floor, the sports facilities will not be ready in time. Observing that the preparations were in a 'mess', Modi also taunted the CWG organisers, telling them that any government body in Ahmedabad would have ensured that all the stadia were ready before the commencement of the mega sporting event on October 3.
The fees charged by investment banks to manage initial public offerings (IPOs) have increased to an average 3.23 per cent of the issue size this calendar year, the highest since 2020. The average fee is up 8 per cent compared to last year, when it stood at 2.99 per cent. The investment banking fees have increased as the average IPO size has shrunk this year.
He would have a tenure of two years and is due to retire on November 10, 2024.
The initial numbers for the last installment of advance tax payment on Thursday by top corporates based in the financial capital present a tepid growth in the levy mop-up, with banking and financial institutions leading the pack.
Record Stokes ton leads England to huge win over New Zealand
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
The public issue of 8.4 crore shares, which closed on Friday, was over-subscribed by 9.28 times, sources associated with the process said.
According to a report by Ernst & Young, 45 PE-backed companies raised $17.2 billion in proceeds, highest quarterly total since the second quarter of 2007.
GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry said on Wednesday. February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST. The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up recorded in January at over Rs 1.57 lakh crore.
Life Insurance Corporation, the country's largest insurer, has consolidated its position by recording 178 per cent increase in premium collection during April-September this fiscal
The government had last fiscal exceeded the direct tax collection target set in the Budget.
Billionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies, as the ports-to-energy conglomerate continues to work on a claw back strategy after being hit by damaging reports. The promoter group has increased stake in flagship Adani Enterprises to 71.93 per cent from 69.87 per cent, according to stock exchange filings. This is the second time in less than a month that the promoters have raised stake in the flagship firm that incubates new businesses.
Spurred by Chirag Jani's a five-wicket haul, defending champions Saurashtra scripted their first knockout win of the season with a 238-run thrashing of Vidarbha on the third day of their Ranji Trophy Elite Group A match in Nagpur on Sunday.
Billionaire Gautam Adani-led promoter group has increased its stake in the group's flagship firm as the ports-to-energy conglomerate continues to recover from the effects of a report by US short-seller Hindenburg Research. Promoter group has increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent, according to a stock exchange filing. Promoter group firm Kempas Trade and Investment Ltd, which had a minimal stake in the firm, acquired 2.22 per cent in the open market between August 7 and August 18, it said.
Chief Justice of India N V Ramana on Thursday set in motion the process of appointment of his successor by recommending the name of Justice Uday Umesh Lalit, the most senior judge, to the Centre.
After overshooting its borrowing target last fiscal, Centre is again on a fund raising spree, mopping up Rs 33,000 crore (Rs 330 billion) from the market in one month, while states plan to raise Rs 7,000 crore (Rs 70 billion) next fortnight.
Having raised Rs 13,000 crore (Rs 130 billion) till May, the Centre now plans to mop up another Rs 10,000 crore (Rs 100 billion) this week as part of its Rs 1,50,818 crore (Rs 1,508.18 billion) market borrowing programme for 2004-05.
GST collections in September rose 26 per cent to over Rs 1.47 lakh crore, the finance ministry said on Saturday. Goods and Services Tax (GST) mop-up has been over Rs 1.40 lakh crore for seven months in a row.
Earlier, proceeds from disinvestment were shown separately as part of the miscellaneous receipts in the Capital Receipts Budget.
The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of Rs 68,827 crore in 2017, according to a report. Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year. Another highlight was only 51 per cent or Rs 103,621 crore of the total Rs 202,009 crore was fresh capital raising and the remaining Rs 98,388 crore were offers for sale.
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