One of the worst legacies of the UPA government carried forward by the Modi government, the provision for Retrospective Tax, is finally set to be buried. The union finance ministry on Thursday informed the Lok Sabha that it is bringing an amendment to the Income Tax Act, 1961 to this effect. The move comes even as the … Read more
Yesterday the union cabinet approved the setting up of the National Asset Reconstruction Company (NARCL) with the objecting of cleaning the banking sector of bad loans. This institution has been dubbed as ‘Bad Bank’, because it will take over bad debt of nearly Rs 2 lakh crore from banks, cleaning the books of the banks. This is … Read more
NDTV shares on Monday zoomed to hit its upper circuit of 10 per cent after rumours started doing rounds that Adani Group is going to buy the company. As of 1:19 PM on September 20, the share price of NDTV was hovering around Rs 79.85, up by Rs 7.25 or 9.99 per cent today, which … Read more
The BSE Sensex on Friday touched an important milestone, breaching the 60,000-mark for the first time ever as the 30-stock benchmark index continues to rally on the back of expanding Covid-19 vaccination coverage, eased restrictions on business activity and the government’s measures to boost the economy. Besides, NIFTY, another benchmark Indian stock market index that represents the weighted average of … Read more
What would be your reaction if you were told that your money grows 5% everyday? Yes, you read that right, 5% upward everyday. Paras Defence and Space Technology is a company that got listed in the stock market just recently. The IPO was subscribed over 300 times, which in itself was a record in Indian … Read more
Lecturing India about imaginary ‘human rights’ and ‘communalism’ and dangers to democracy has been the favorite political habit of politicians, media, and the elite in Western nations. Unsurprisingly, some politicians of Indian origin pretend they are better at lecturing India than their white compatriots. In a recent manifestation of this phenomenon, Indian American lawmakers Ro … Read more
The initial public offering(IPO) of India’s largest omni-channel destination for beauty and personal care, Nykaa, owned by FSN E-Commerce Ventures Ltd, was subscribed 82.42 times on Monday, which was the final day of the bidding of the issue that opened on October 28. The Rs 5,300-crore initial public offering(IPO) of Nykaa received bids for 216.59 crore equity … Read more
A week after submitting her resignation, Padmaja Reddy, founder and former managing director of Spandana Sphoorty Financial, has penned a letter revealing murky details of her tussle with private equity investor Kedaara Capital over a proposal to sell the company to Axis Bank. Reddy has alleged that there was no transparency whatsoever in how the Axis … Read more
Personal and Body care brand Nykaa made an outstanding debut on the Indian stock exchanges on Wednesday, with shares listing at a premium of up to 79 percent compared with the issue price. On Bombay Stock Exchange, the stock of FSN E-Commerce Ventures — the parent organisation of Nykaa — was listed on the secondary market at … Read more
Reliance Industries Ltd (RIL) and Saudi Aramco have mutually decided to re-evaluate the investment deal involving the O2C (Oil to Chemicals) business of the RIL considering the recent developments, according to reports. The deal under talks was worth $15 billion. The November 19 statement of RIL read, “Due to the evolving nature of Reliance’s business portfolio, … Read more