M and M was the biggest gainer on the Sensex chart, rising 5.97 per cent, followed by JSW Steel, Ultra Cement, Kotak Bank, ITC and NTPC. Reliance Industries gained 0.73 per cent to close at Rs 2,871 apiece. In contrast, TCS, HCL Tech, HUL, Nestle Industries, Bajaj Finserv, Wipro and Infosys were among the losers.
Posts tagged Rediff
IT firms’ work for int’l clients may not attract IGST (17-05-2024)
Services provided by Indian information-technology (IT), marketing, and consulting companies to foreign clients may not always draw integrated goods and services tax (IGST) if a ruling by the Authority for Advance Rulings’ (AAR’s) Telangana Bench becomes a precedent. The AAR gave its ruling on a specific case of referral services provided by the Hyderabad-based Center for International Admission and Visas (CIAV) to foreign universities and colleges for admitting Indian students.
India’s internet economy may reach $1 trn by 2030 (17-05-2024)
India’s internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India’s e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India’s e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
HAL, BEL top buys in India’s defence sector: Nomura (17-05-2024)
India’s defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players – Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) – with a ‘buy’ rating. The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
How India Inc plans to rotate independent directors (17-05-2024)
Following the end of the grandfathering period given to India Inc to replace their independent directors who had already served for 10 years, certain companies have come up with unique ways to replace the old guard.
‘Elections May Sway Markets Temporarily’ (17-05-2024)
‘The long-term impact of elections is minimal.’
Strikes And Lockouts Decline By 90% (17-05-2024)
Industrial disputes dropped 89.3 per cent to 34 in 2022 compared to 318 a decade ago, shows central and state data.
Vodafone Idea loss widens to Rs 7,675 cr in Q4 (16-05-2024)
Debt-ridden telecom operator Vodafone Idea on Thursday reported widening of losses to Rs 7,675 crore in the March quarter amid rise in interest and financing cost. The company had registered a loss of Rs 6,419 crore in the year-ago period. The consolidated revenue of operations remained almost flat about Rs 10,607 crore during the reported quarter.
Bank borrowing: ARC chiefs to meet RBI deputy guvs (16-05-2024)
The Reserve Bank of India (RBI) will meet top executives of asset reconstruction companies (ARCs) on Friday to take stock of the sector. During the meeting, ARCs will also seek clarity from the regulator on bank borrowing. While there is no regulatory ban in place, ARC sources said banks often refuse funding.
Markets spurt nearly 1% on buying in HDFC Bank, Infy (16-05-2024)
Among the Sensex components, Mahindra and Mahindra, Bharti Airtel, Tech Mahindra, Titan, Infosys, JSW Steel, Bajaj Finserv, HDFC Bank, Larsen and Toubro and Kotak Mahindra Bank were the major gainers. Maruti, State Bank of India, Power Grid, Tata Motors and IndusInd Bank were the laggards.