IL&FS case: Sebi widens probe into role of rating agencies

IL&FS case: Sebi widens probe into role of rating agencies

  New Delhi, Jul 21: Market regulator Sebi has expanded its probe into the role of five credit rating agencies after a forensic audit mandated by the new board of crisis-ridden IL&FS flagged serious lapses and their possible complicity with the former top brass of the group in giving top ratings despite weak financials. While […]

Tata Motors MD draws over 2-times more salary than M&M’s in FY19

New Delhi, Jul 21: Homegrown auto majors Tata Motors and Mahindra & Mahindra are close rivals in the automotive market but when it comes to remuneration of their top honchos, the former is miles ahead of the latter. Tata Motors Managing Director and CEO Guenter Butschek’s total remuneration was at Rs 26.29 crore, an increase […]

Indian diamond market loses sparkle, De Beers lowers output forecast

Indian diamond market loses sparkle, De Beers lowers output forecast

Surat, Jul 21: Slowdown in Indian diamond industry has prompted world’s largest diamond mining company De Beers to lower its production forecast for 2019, with its mining output in second quarter falling 14%. According to US-based Rapaport Group, De Beers’ mining output fell 14% to 7.7 million carats in the second quarter as the company […]

FPIs withdraw Rs 7712 cr from stocks in July so far

FPIs withdraw Rs 7712 cr from stocks in July so far

New Delhi, Jul 21: Foreign portfolio investors pulled out around Rs 7,712 crore from Indian equities in this month so far following the ‘super-rich’ tax announced in the budget for 2019-20, according to analysts. FPIs had been net investors in the equity segment in the previous five months. According to the latest data available with […]

Aditya Birla Idea Payments Bank to close operations

Aditya Birla Idea Payments Bank to close operations

New Delhi, Jul 21: Nearly 17 months after it began operations, Aditya Birla Idea Payments Bank Limited (ABIPBL) announced winding up of its business on account of “unanticipated developments” that made its economic model “unviable”. “…we wish to inform you that the Board of Directors of our associate company Aditya Birla Idea Payments Bank Limited […]

Surcharge on some FPIs to stay, says Sitharaman

New Delhi, Jul 19: The government stuck to its stand on levying a surcharge on some foreign portfolio investors (FPIs), with FM Nirmala Sitharaman making it clear that this class of overseas investors had the option to restructure their operations to lower the tax burden. Replying to the debate on the finance bill in Lok […]

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