Posts tagged Rediff
Power Grid Corporation stock in expensive zone (12-06-2024)
Power Grid Corporation of India (PGCIL) was one of the top Sensex gainers in trade on Monday, ending with gains of nearly 9 per cent. The stock has gained about 42 per cent year-to-date. For the March quarter, the company reported a revenue of Rs 12,000 crore, which was down 3 per cent year-on-year (Y-o-Y) but up 4 per cent quarter-on-quarter (Q-o-Q). The drop was on account of one-time arrears related to the Nagapattinam tariff bid competitive bidding (TBCB) project in Q4 FY23.
Sitharaman to ensure ‘Ease of Living’ during Modi 3.0 (12-06-2024)
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
Why MNCs are expected to face greater scrutiny (12-06-2024)
The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny. "Companies are closely watching this space.
‘Payment banks’ micro-lending will impact economy’ (12-06-2024)
'The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.'
We Missed Industrial Revolution (12-06-2024)
Is India headed there again? questions Ajit Balakrishnan
‘Fortis plans to add 700 beds in FY25’ (12-06-2024)
'Our priority remains brownfield expansion, and in the next few years, we plan to increase our capacity to around 6,000 beds.'
Listed private life insurers’ FY24 margins fell (11-06-2024)
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
Cognizant Tech to acquire Belcan for $1.3 bn (11-06-2024)
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
Markets end flat as investors remain on the sidelines (11-06-2024)
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen and Toubro, Tata Motors, Maruti, NTPC, Mahindra and Mahindra and UltraTech Cement were among the gainers.
Equity MFs surge to record Rs 34,697 cr inflows in May (11-06-2024)
Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.