Sale of pledged shares by L&T Finance, Edelweiss illegal: Reliance Group
Anil Ambani-promoted Reliance Group alleged on Friday that misconduct by certain non-banking financial companies (NBFCs), particularly L&T Finance and Edelweiss, had led to the recent slump in shares of some of its companies, and termed their action “illegal, motivated, and wholly unjustified”. Read on
Share of regular, salaried workers in employment increases in 2017-18: NSSO
The share of regular salaried workers in employment was on the rise in 2017-18, the National Sample Survey Office’s (NSSO’s) latest jobs survey shows. The rise in the proportion of regular salaried workers was more in rural areas than in urban parts. Read on
Consumer, retail lenders make 93% of FY19 market capitalisation gains
Consumption-oriented stocks are leading the charge on Dalal Street, with the government shifting its focus back to consumer demand to spur economic growth. In the last one year, stocks from the consumer and retail lending space have accounted for 93 per cent of all the market capitalisation gains for the listed companies. Read on
Dorabji Tata Trust challenges I-T dept's decision to withdraw exemption
The Dorabji Tata Trust has challenged the income-tax department’s decision to withdraw tax exemption to the organisation. The trust has moved the Commissioner of Income Tax (CIT) Appeals, considered to be the first appellate authority to hear a tax grievance. Read on
Govt panel favours lowering of GST rates on under-construction houses
The struggles of India’s beleaguered real estate sector might end soon. A group of ministers on Friday batted for a cut in the goods and services tax (GST) rates on under-construction houses. Read on:
Tata Steel Q3 consolidated net profit rises over 54% to Rs 1,753 crore
SBI cuts interest rate by 5 bps on home loans up to Rs 30 lakh
Within a day of RBI reducing repo rate by 25 basis points, the country's largest lender State Bank of India Friday announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh. Read on:
India to regulate medical implants to ensure their safety
The government on Friday decided to regulate the sale, manufacture and import of medical implants, a move that will ensure safe and tested medical devices reach the end user, according to Livemint report.
Chennai's 'accidental investor' who became D-Street's top multibagger hunter
Rajiv Khanna, the brain behind Dolly Khanna's multibagger portfolio, is one of the most successful stock investors on Dalal Street. This Chennai-based investor has a knack for identifying quality stocks at the right time and pocket stellar returns. Khanna, along with his wife, has generated an enormous amount of wealth from the stock market, according to The Economic Times report.
Income tax department holding back refunds amounting to thousands of crores
The Income Tax (I-T) Department is holding back tax refunds of many private and public sector enterprises, likely equaling to 5-10 percent of total tax collection in 2017-18, sources in the department told Moneycontrol. The delay in some cases extends up to four years.