Brokers will now be penalised because of failure to comply with the ‘short allocation’ norms, according to a notice from the exchanges that took effect from Tuesday. Experts say the imposition of penalty is meant to enhance transparency by ensuring compliance with Sebi’s diktat that came into effect on August 1, 2022. The regulation requires […]
By Royce Varghese WTI Crude oil futures ended the previous week 3.5% higher and closed at $92.09 per bbl, amid bullish IEA outlook, raising its oil demand estimate for 2022. The Paris based agency said higher natural gas and electricity prices will lead to more gas-to-oil switching and forecasted a near 20% drop in Russia’s […]
The uncertainty over the taxability of capital returned to unitholders of real estate investment trust (REITs) and infrastructure investment trusts (InvITs) has spooked investors in these vehicles. The proposed amendment in the Finance Bill 2023 seeks to tax repayment of debt to such unitholders as ‘income from other sources’ under Section 56(2)(xii) of the IT […]
Adani Group stocks continued their slide on Tuesday, with six stocks hitting their lower circuit of 5% and the flagship Adani Enterprises slumping over 7%. This followed reports questioning the debt repayment claims by the group. The reports claimed that despite the group announcing it has repaid over $2 billion of debt, banks were yet […]
On the eve of her birthday, a 24-year-old IT professional was chained, slashed and burnt alive by her childhood friend, who had allegedly undergone a sex change operation to marry her, in the outskirts of Chennai, Tamil Nadu. The incident took place in Thalambur near Kelambakkam, a quiet southern suburb of Chennai. The victim, identified […]
Pune-based electric vehicles and technology company EKA Mobility has announced a strategic partnership with Mitsui & Co (Japan) and VDL Groep (Netherlands). This move it says aims to propel India towards becoming a global hub for sustainable transportation. The partnership will see an investment of around $100 million (Rs 850 crore) in phases. EKA Mobility […]
Flipkart Internet, the marketplace arm of Walmart-owned e-commerce giant Flipkart, posted a 50% growth in its logistics segment — the largest by revenue, helping the company boost its topline and cut losses by 9% during financial year 2022-23. The arm posted a loss of Rupees 4,027 crore in FY23, slightly lower than Rupees 4,420 crore […]
In good news for depositors before the new year, State Bank of India (SBI) and Axis Bank have raised interest rates on fixed deposits by up to 50 basis points (bps) across various tenors. SBI has increased rates across various tenures, excluding FDs maturing within one year to less than 2 years, 2 years to […]
The Vivo X100 Pro and Redmi Note 13 Pro Plus may be poles apart, much in the same way like chalk and cheese, but they have one thing in common. Or at least they do from an India perspective. Launching on the same day, i.e. January 4 2024, the X100 Pro and Note 13 Pro […]
By Sameet Chavan In the initial hour of the trade on Thursday, Nifty 50 slid below 18100, and then as the day progressed, the bears thrashed all key supports one after another. Due to massive sell-off in individual stocks, Nifty eventually plunged below 17900 to conclude the October expiry on a depressive note. In this […]
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