Tax Notice: Indian tax authorities may send notices to more IT firms after Infosys received a ₹32,000 crore tax demand for alleged evasion via overseas offices. This demand represented nearly all of Infosys' revenue for the June quarter. Experts anticipated similar notices being issued to other companies in the sector shortly thereafter.
Mankind Pharma's shares fell 2% to Rs 1,985.50, despite the company announcing a 10% YoY rise in net profit to Rs 543 crore for the first quarter of FY25. Revenues increased 12% YoY to Rs 2,893 crore. Brokerages had mixed reactions, with Macquarie, Motilal Oswal, and Kotak Equities offering varied recommendations.
A total of 4,223 shares changed hands on the counter till 02:11PM (IST)
India's rainfall during the second half of the monsoon season was anticipated to be above-normal, exceeding 106% of the Long Period Average. August's rainfall was likely to remain within the normal range, while September was forecasted for excess rain. This could affect kharif crops. La Nina conditions were expected to contribute to this increase in rainfall.
A total of 11,882 shares changed hands on the counter till 02:05PM (IST)
Total income rose to Rs 2,024.5 crore in the April-June period of 2024-25 fiscal year from Rs 1,966.3 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday.
ETMutualFunds analysis reveals that three equity mutual fund categories delivered returns exceeding 30% over a five-year period from July 2019 to July 202
India secured its third medal in the men's 50m rifle 3 position shooting event at the Paris Olympics 2024, with Swapnil Kusale winning a bronze medal. Kusale is the third Indian shooter to win an Olympic medal in this discipline, following Manu Bhaker and Sarabjot Singh. Kusale finished third with a score of 451.4, outperforming Czechia's Privratsky Jiri. India has won three medals in shooting competitions thus far.
Promoters held 50.05 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 5.65 per cent and 15.72 per cent, respectively.
Following the US Fed’s potential rate cut signal, Nifty topped 25,000 and Sensex hit a new high over 82,000, with seven Nifty50 stocks reaching 52-week highs.
After the revision, Bank of India offers interest rates from 3% to 7.30% for fixed deposits, as per the official website of Bank of India. The new rates are applicable from August 1, 2024.
Promoters held 46.64 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 14.73 per cent and 1.41 per cent, respectively.
Non-institutional investors subscribed 22.8 times, followed by retail investors, whose category was booked 13.8 times. The part reserved for QIB investors was booked the least at 2.4 times.
The benchmark one-year tenor MCLR, which is used to price most consumer loans such as auto and personal, will be at 8.90 per cent against the earlier rate of 8.85 per cent, PNB said in a regulatory filing. The three-year MCLR stands at 9.20 per cent, up 5 basis points.
A total of 104,196 shares changed hands on the counter till 01:45PM (IST).
Indian race walkers Vikash Singh and Paramjeet Singh finished in 30th and 37th positions respectively in the 20km Olympic event. National record-holder Akshdeep Singh pulled out after the 6km mark. Brazil's Caio Bonfim and Spain's Alvaro Martin won silver and bronze medals, respectively. Priyanka Goswami will compete in the women's 20km race walk event later.
Iran held funeral processions on Thursday with calls for revenge after the killing in Tehran of Hamas political chief Ismail Haniyeh in a strike blamed on Israel. Senior Hamas figure Khalil al-Hayya, the movement's foreign relations chief, vowed during the funeral ceremony that "Ismail Haniyeh's slogan, 'We will not recognise Israel,' will remain an immortal slogan" and "we will pursue Israel until it is uprooted from the land of Palestine."
The article discussed the importance of estate planning in securing future wealth for loved ones. It covered the various components of an estate, including physical, financial, and digital assets. Vinita, an expert from 360 ONE, emphasized the need for proactive planning to ensure seamless intergenerational wealth transfer and mitigate potential risks.
On the technical charts, the 200-day moving average of the stock stood at Rs 37191.86.
While addressing the Lok Sabha, Vaishnaw challenged his critics, saying, "Those who are shouting here must be asked why, in their 58 years of power, they were unable to install even 1 km of Automatic Train Protection (ATP). Today, they dare to raise questions."
The report further revealed that Adani Energy raised Rs 50,000 crore through the issue. More than 125 institutional investors participated in the fundraising of Adani Energy. The company has reported a consolidated net loss of Rs 824 crore for the quarter ended June 30, 2024, as against Rs 175 crore net profit in the year-ago period.
Clix Capital, a finance company, secured Rs 220 crore in equity funding from existing investors, including Apollo Global Management. The funds aim to boost lending in MSME, education, and healthcare equipment sectors. The company's assets under management reached Rs 4,484 crore in March 2023, with operations expanding to over 2,100 pin codes across India.
Hyundai Motor India reported a 3% drop in wholesales for July, with total units decreasing to 64,513 from the previous year's 66,701. Domestic dispatches to dealers fell by 3% to 49,013 units, while exports saw a similar decline to 15,500 units. The company attributed the decrease to various factors in the market.
The stock quoted a 52-week high price of Rs 5900.0 and a 52-week low of Rs 1672.0.