Record broker defaults cause crippling losses to investors

New Delhi (IANS) With broker defaults continuing, the industry has witnessed a record 28 defaults or expulsions since November 2019, just a little before the Covid-19 pandemic hit the world, MoneyLife reported.

This is the highest number of…

Indian economy to see 'substantial slack' in FY22 despite growth: RBI

Mumbai (IANS) Although the Indian economy is poised to recover and witness positive growth in the current fiscal, the Reserve Bank of India (RBI) has said that there will be "substantial slack" in it.

The RBI Bulletin for July 2021 noted that…

Paytm files for mega Rs 16,600 cr IPO with SEBI

Mumbai (IANS) One 97 Communications, the parent of Paytm has filed for an initial public offering (IPO) with the market regulator SEBI, with a target to raise around Rs 16,600 crore.

In the draft red herring prospectus, the company said that…

India's June YoY engineering goods exports rises by 52.4%

New Delhi (IANS) India's year-on-year engineering goods exports rose by 52.4 per cent during June 2021.

Similarly, exports of this segment last month recorded a growth of 41.9 per cent over the June 2019 level.

Engineering exports,…

NTPC achieves over 100 BUs of cumulative generation in FY22 so far, faster than last year

New Delhi (IANS) NTPC Group companies have achieved over 100 Billion Units (BU) of cumulative generation in the current financial year at a much faster rate than last year.

Last year the group generation had crossed 100 BU on 7 August 2020,…

Equity indices flat amid weak global cues, banking stocks fall

Mumbai (IANS) The Indian stock market traded on a flat-to-negative note on Wednesday morning tracking decline on the global markets.

Selling pressure was witnessed in banking and finance stocks.

Around 10.25 a.m, Sensex was trading at…

RBI imposes curbs on Mastercard over data storage

New Delhi (IANS) In a major blow to payment services major Mastercard Asia/Pacific Pte Ltd, the Reserve Bank of India (RBI) on Wednesday imposed restrictions on on-boarding of new domestic customers in the country on its card network.

The RBI…

Deal Breaker: Tatas intensify Air India due diligence

New Delhi (IANS) Conglomerate Tata Group which is being seen as the front runner in acquisition of Air India has intensified its due diligence process.

According to highly placed sources, teams comprising of Tata group companies' officials…

Startups, pharma Cos face tax liability on new goodwill rules

New Delhi (IANS) In what can increase tax liability on companies that have undergone mergers and acquisitions in recent years, the Central Board of Direct Taxes (CBDT) has notified new set of rules on tax treatment of goodwill where depreciation provisions…

Adani group takes over management control of Mumbai Int'l Airport

Gandhinagar (IANS) The Adani Airport Holdings Ltd (AAHL), a subsidiary of Adani Enterprises Limited, has taken over the management control of the Mumbai International Airport Limited (MIAL) from the GVK Group following the a board meeting of MIAL…