This amendment is proposed to be made retrospectively effective from FY16 onwards. Reliance Industries, Tata Steel and the Adani group will be the biggest beneficiaries of the 15 per cent investment allowance which comes into effect with retrospective effect from April 1, 2015. The Income Tax Act specifies that manufacturing companies can avail of the allowance on investments made in new assets exceeding Rs 25 crore (Rs 250 million) so long as their acquisition and ... Rediff.com, 2 months ago
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Markets gained for the fourth straight session with Nifty settling above the 8,150 levels comfortably supported by sustained buying across the board especially the index heavyweights like RIL, Infosys and HDFC. Above-normal monsoon forecast, better than expected Q4 numbers and strength in rupee bolstered the rally. The S&P BSE Sensex soared 287 points to end at 26,653 and Nifty50 surged 87 points to end at 8,157. Nifty50 closed at highest mark since Oct 29, 2015. In broader markets, ...Rediff.com, 9 hours ago
The S&P BSE Sensex slipped 305 points to end at 25,400 and the Nifty50 dropped 87 points at 7,783. Markets suffered losses after likelihood of an interest rate hike by the US Federal Reserve in the month of June resurfaced. A win for the BJP in Assam failed to uplift the mood on the street as downfall in the global equities amid decline in the crude oil prices dampened sentiments. The rupee plummeted 27 paise against the US dollar to 67.24 owing to appreciation of the American ...Rediff.com, 1 week ago Sensex vaults 460 points as prospects of Fed rate hike wane Rediff.com, 2 weeks ago Party continues at D-Street; Sensex clocks 1,600 points in 3 days Rediff.com, 2 months ago
Markets snapped three day losing spell on account of value buying in the beaten down bluechips at attractive valuations. Meanwhile, firm trend across the European peers and rise in the crude oil prices buoyed the sentiments. The S&P BSE Sensex surged 160 points to close at 25,262 and Nifty50 climbed 29 points to end at 7,736. "7,700 holds on Nifty, yet again and if the global markets support, we believe that the indices could find a short term support. "The key sector to watch though is ...Rediff.com, 3 weeks ago
Sensex and Nifty finished the session at 2016 closing high on sustained buying interest amid rise in crude oil prices and appreciating rupee. Meanwhile, investors are keenly awaiting policy decision from the US Federal Reserve later today and the expiry of April derivative contracts on Thursday. The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points to close at 7,980. Chandan Taparia, Derivative Analyst at Anand Rathi says “Nifty levels is ...Rediff.com, 1 month ago
Markets finished the session on a lower note with Sensex snapping the six day winning streak after investors booked profits at higher and attractive levels. Also, dismal global cues further dented sentiments. The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899. However, midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.16%. "The rally among the broader markets is likely to fizzle out as the earnings may not ...Rediff.com, 1 month ago Markets dance to monsoon tune; Global cues, macro data aid rally Rediff.com, 1 month ago Markets take a breather on weak global cues Rediff.com, 2 months ago
'Subsidised clean fuel is a necessity and for that, all citizens should be supportive. It is not a luxury.' 'India is vulnerable to imports on oil and gas and it needs lots of investment, from within and foreign investors.' One company that has lit up with the recent announcement on the petroleum package is Cairn India. It is hopeful the government will extend its production sharing contract. Mayank Ashar, bottom, left, managing director and chief executive officer, tells Jyoti Mukul the ...Rediff.com, 1 month ago
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each. Markets ended sharply lower on Tuesday as weak global cues took precedence over Reserve Bank of India’s rate cut by 25 bps which was in line with economists’ expectations. The S&P BSE Sensex dropped 516 points to end at 24,884 and the Nifty50 plunged 156 points to finish at 7,603. “Transmission of policy rate cuts has been disappointing. However, given that the government has cut administered ...Rediff.com, 1 month ago
-The salary boost for Mistry came after the company earned an income of Rs 13,206 crore (Rs 132.06 billion) for FY15 as compared to previous year’s Rs 5,429 crore (Rs 54.29 billion) With a remuneration of Rs 16.25 crore (Rs 162.5 million), Tata Sons Chairman Cyrus Mistry is now among the top-paid chief executives in the country.Mistry got this package from the unlisted holding company of the Tata group for financial year 2014-15, or FY15. It includes a commission on the profits of Tata ...Rediff.com, 1 month ago
Throwing corporate propriety to the wind, founders of Flipkart, Snapdeal often aim barbs at each other on Twitter & Facebook The bigwigs of India Inc, the Tatas, the Birlas, the Ambanis or the Ruias, restrict criticism of their bitterest rivals to their boardrooms or private conversations, never engaging in a public spat. A new set of entrepreneurs of start-ups and internet-driven businesses, however, care little for such corporate propriety, and often engage in sparring on social ...Rediff.com, 2 months ago
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