Two PSU IPOs to hit market this month; to fetch Rs 815-cr to govt

Two PSU IPOs to hit market this month; to fetch Rs 815-cr to govt

  New Delhi, Sep 16: Railways engineering and construction firm Ircon International and defence shipbuilder Garden Reach Shipbuilders and Engineers will come out with their IPOs this month, which could together fetch about Rs 815 crore to the exchequer. The bidding in Ircon’s initial share-sale will begin on September 17 and close on September 19, […]

Union Bank of India exits Antwerp diamond market

New Delhi, Sep 16: State-owned Union Bank of India has decided to quit Antwerp diamond hub in Belgium as the branch did not generate expected business, a senior bank official said. The finance ministry had advised all the public sector banks to review their overseas business and close branches which are not profitable as part […]

FPIs pull out Rs 94 bn in September so far due to rupee fall

FPIs pull out Rs 94 bn in September so far due to rupee fall

  New Delhi, Sep 16: Foreign investors pulled out a massive Rs 94 billion ($1.3 billion) from the capital markets last fortnight, after putting in money during the previous two months, on widening current account deficit due to a surge in oil prices and depreciating rupee. The latest outflow comes following a net infusion of […]

Sensex ends over 350 points higher, Nifty races past 11,500

Mumbai, Sep 14: It’s a perfect photo finish for D-Street! The Nifty raced past 11,500 and ended the session above that mark. This is contrary to the negative moves that the market had in the first couple of days of the week. Multiple factors were behind this upmove, but investors mainly hoped for some commentary […]

TDS, TCS provisions under GST to come into effect from October 1

New Delhi, Sep 14: The government on Thursday sought to check evasion of Goods and Services Tax (GST) by introducing provisions that will make mandatory for e-commerce companies to collect tax at source to help track the sellers on platforms such as Amazon and Flipkart. Similarly, public sector companies will have to deduct GST at […]

Kwality Q1 net profit slumps to Rs 1 crore

New Delhi, Sep 14: Kwality Ltd said Friday its net profit saw steep fall to Rs 1.04 crore during the first quarter of the 2018-19 financial year, on poor sales. Net profit during April-June, 2017-18 stood at Rs 27.87 crore, the company said in a regulatory filing. Net income declined to Rs 1,265.78 crore from […]

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