As the results season kicks in, the quarterly earnings numbers of several blue-chip firms — such as Infosys and Reliance Industries — along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
Posts tagged Rediff
Softbank exits Paytm at loss of around $150 mn (13-07-2024)
Japan’s Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around $150 million, sources aware of the development said. Softbank invested about $1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017. “Softbank has exited Paytm at a loss of 10-12 per cent.
Softbank exits Paytm at loss of around $150 mn (13-07-2024)
Japan’s Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around $150 million, sources aware of the development said. Softbank invested about $1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017. “Softbank has exited Paytm at a loss of 10-12 per cent.
Does govt plan to junk MTNL, BSNL merger? (13-07-2024)
The government is considering the option of handing over operations of Mahanagar Telephone Nigam Ltd (MTNL) to BSNL through an agreement, instead of pursuing a merger route, a source privy to the development said. A final call on this is likely to be taken in a month’s time. The source said the option of handing over debt-laden MTNL’s operations to Bharat Sanchar Nigam Ltd (BSNL) through an agreement is being looked into.
How To Curb Speculation In F and Os (13-07-2024)
‘Sebi had no problem with derivatives until trading exploded after Covid.’ ‘But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,’ explains Debashis Basu.
Direct tax mop-up rises 20% to Rs 5.74 lakh cr (13-07-2024)
Net direct tax collection grew 19.54 per cent to over Rs 5.74 lakh crore so far this fiscal on higher advance tax payment by corporate. The first instalment of advance tax, which was due on June 15, rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs 1.14 lakh crore and Personal Income Tax (PIT) at Rs 34,470 crore.
India’s Economic Reality And The Hype (13-07-2024)
From connectivity woes to infrastructure advancements and the startup boom, there is a gulf between claims and reality in India’s economic landscape, points out Devangshu Datta.
Adani to invest Rs 20,000 cr more in Vizhinjam port (12-07-2024)
The Adani Group is planning to invest Rs 20,000 crore more to complete the remaining three phases of the Vizhinjam International Seaport, the first transshipment port in the country, managing director of Adani Ports and Special Economic Zone Ltd (APSEZ) Karan Adani said in Thiruvananthapuram on Friday. Talking to PTI after the official reception ceremony for ‘San Fernando’, the first mothership to dock at Vizhinjam, Adani said the port will be a game changer for Indian manufacturers as it reduces logistics cost by 30 to 40 per cent.
HCL Tech Q1 net profit surges 20.4% to Rs 4,257 cr (12-07-2024)
IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal’s first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
Tycoons At Radhika-Anant’s Wedding (12-07-2024)
Businessmen from all over the world attended Radhika Merchant and Anant Ambani’s wedding at the Jio World Convention Centre, Bandra Kurla Complex, north west Mumbai, on Friday, July 12, 2024.