 "News digest: PNB scam fallout, LTCG tax, Cambridge Analytica row, and more")
RBI may let PNB spread fraud losses over 1 year
The Reserve Bank of India (RBI) had agreed in principle to a request by Punjab National Bank (PNB) to spread its losses related to the Nirav Modi-Mehul Choksi fraud over four quarters, sources said. Read More
Manipal, Fortis to merge hospital biz; SRL Diagnostics to be part of deal
Manipal Hospitals, backed by private equity firm TPG, and Fortis Healthcare have announced a merger of their hospital businesses, creating the largest provider of healthcare services in India by revenue. Read More
GSK may put Horlicks on the block to fund $13-billion Novartis deal
British pharmaceutical giant GlaxoSmithKline (GSK) is likely to sell its health food drink brand Horlicks to fund a buyout of the residual stake in its consumer healthcare joint venture (JV) with Novartis. Read More
Your long-term capital gains tax freedom ends today
The markets have been in a downward spiral since the proposed reintroduction of the long-term capital gains (LTCG) tax in the Union Budget. However, there are about 143 stocks that are currently trading above their base price (intra-day high of January 31). Long-term investors holding shares of these companies can minimise their capital gains tax outgo by booking profits on Wednesday, the last trading day of the current financial year. Read More
Cambridge Analytica-Congress links: BJP seeks apology from Rahul Gandhi
The BJP on Tuesday attacked the Congress over a Cambridge Analytica (CA) whistleblower’s deposition naming the Opposition party. The BJP demanded an apology from Congress President Rahul Gandhi. Read More
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