Sensex gives up gains to turn red; HDFC, RIL down

Mumbai (IANS) The BSE Sensex on Wednesday afternoon shed all the gains made during the initial trade to trade over 250 points down.

Decline in the heavyweights HDFC and Reliance Industries (RIL) weighed on the index.

Both the Sensex…

FPIs may be allowed to get tax treaty benefits on dividend income

New Delhi (IANS) The Centre may propose amendment in the tax laws to allow Indian corporates to apply tax treaty rates while withholding tax on dividends and interest to be paid to FPIs.

The move is expected to facilitate foreign portfolio…

Infosys logs 16.6% growth in Q3 net profit

Mumbai (IANS) IT major Infosys on Wednesday reported a 16.6 per cent year-on-year growth in its consolidated net profit for October-December period at Rs 5,197 crore.

Its net profit during the corresponding period of the previous fiscal (FY2019-20)…

Sensex falls 144 points, banking stocks fall

Mumbai (IANS) The key Indian equity indices traded on a negative note on Tuesday amid choppy trade, with the BSE Sensex losing around 150 points.

Selling pressure was witnessed in the banking, finance, IT and consumer durables stocks.

Analysts…

Sensex hits 49,000 for the first time, IT stocks zoom

Mumbai (IANS) The BSE Sensex crossed the 49,000-mark for the first time ever on Monday and the Nifty50 on the National Stock Exchange was trading above 14,400.

Healthy buying was witnessed in the IT, telecom and FMCG stocks.

Around 9.34…

India now looks to build strategic gas reserve

New Delhi (IANS) After oil, India may now build strategic reserve of natural gas to further strengthen the country's energy security and shield itself from supply disruptions and frequent price fluctuations coming from perennial political risks…

Tax sops for Covid hit Aviation Sector may come in Budget 2021

New Delhi (IANS) Ahead of the Budget 2021, the government has hinted at rationalization of various taxes in the aviation sector, which is among the hardest hit by the Covid-19 induced economic meltdown.

"We are working on a long-term plan to…

Nifty50 witnessing fastest rally since FY10

Mumbai (IANS) As the Indian equity indices continue to hit new highs, Nifty50 has witnessed its fastest rally since the financial year 2009-10.

The Nifty50 on the National Stock Exchange (NSE) has gained 86 per cent in the current financial…

Net outflows from equity MFs at over Rs 10k cr in December

New Delhi (IANS) Equity and equity-linked mutual fund schemes saw a net outflow of Rs 10,147.12 crore in December, showed data from the Association of Mutual Funds in India (AMFI) on Friday.

The net outflow stood at Rs 12,917.36 crore in November,…

Petrol price breaches all-time high; tops Rs 84/litre in Delhi

New Delhi (IANS) Petrol prices have breached all-time high levels in the new year as rising global oil prices pushed fuel marketing companies to raise the pump price of auto fuels for the second time this year on Thursday.

Accordingly, petrol…