An Overview Finance Minister Nirmala Sitharaman said on Friday that India is committed to long-term relationships with US investors and that the two countries have set a goal of $500 billion in trade between them. Sitharaman was speaking to a group of prominent foreign investors including General Electric, Baxter Healthcare USA, Brambles, Marsh & McLennan …
An Overview Last week, six of the ten most valuable domestic firms increased their market capitalization by a total of Rs. 69,611.59 crores, with Reliance Industries leading the gainers’ chart. Reliance Industries, HDFC Bank, State Bank of India, ICICI Bank, and Kotak Mahindra Bank were among the top-10 gainers, while Tata Consultancy Services, Infosys, and …
Reliance Industries (RIL), news reports suggest, is in talks to buy local search engine Justdial from its founding promoters for $800 to 900 million (Rs 5,920 to Rs 6,600 crore). Reportedly, the two sides have been in talks ever since April. News reports suggest that an official announcement is expected on July 16, following a …
An overview Wipro’s IT services division grew 21.3 percent in constant currency in the first quarter compared to the same period last year. However, the acquisition of a British consultancy and technology services firm, accounted for 7.7% of this. In the preceding quarter, Wipro completed the acquisition. Nonetheless, the corporation had a very excellent quarter. …
Tata Metaliks reported on Tuesday that it had clocked Rs. 94.72 crores in net profit for the June quarter. It had suffered Rs. 12.36 crores in losses in this period last year. What led to the strong financial gains? According to its financial records, Tata Metaliks income in April – June quarter jumped to Rs. …
L&T Technology Services has reported a jump of 84% in their net profit as issued on Wednesday, amounting to Rs. 216.2 crores. The company’s overall revenue has also increased by 19.42% to Rs. 1562.6 crores for this quarter, and the operating profit has increased 5.20% to 17.3%, the highest in recent times. Following a strong …
An Overview The assertions that mutual fund investors can be equated with debtors or house buyers under the relevant statutes were deemed “unsound and discordant” by the Supreme Court on Wednesday. The observations were made by the Supreme Court in a case that found that trustees must obtain majority unitholder permission before terminating mutual fund …
The market cap of companies listed on the BSE touched an unprecedented high of Rs 233 lakh crore on Wednesday, on the back of optimism in the market. The benchmark index, BSE Sensex, also gained over 134 points or nearly 0.25 per cent, to touch 52,904 on Wednesday. The listed companies on the BSE universe …
India’s foreign exchange reserves have grown to over $610 billion, on the back of foreign direct investments and the inflow of foreign institutional or portfolio investors into the stock markets, which have seen a sustained bull run over the past year. According to the Reserve Bank of India (RBI) data, for the week ended July …
An Overview of June’s Performance According to SEBI data, the gross acquisition of equities by domestic fund managers in the secondary market was Rs. 83,006 crores in June, compared to a five-year average of Rs. 58,187 crores. After Rs 1.2 lakh crore in March 2020, the gross acquisition in a single month in June was …
