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TCS m-cap Nears $100 Billion; Investors Richer by Rs 41,301 Crore
New Delhi: Tata Consultancy Services(TCS) moved closer to the USD 100 billion mark in market capitalisation as its share price surged nearly 7 per cent on Friday, adding about USD 6.2 billion to its valuation. The IT major is set to be the…
Paints: Price hikes to provide partial relief to eroding margins
Paint companies are tackling persistent input cost pressure with price increases. After raising prices by around 1.5% in March, Asian Paints Ltd recently announced yet another price hike of nearly 2% effective May and peers are expected to…
Will the cement sector regain its pricing power anytime soon?
Investors in cement stocks are desperately looking for an answer to this question. After a prolonged lull in demand, volume growth is picking up pace, buoyed by government spending on infrastructure projects; but prices are far from their…
Fortis Healthcare: Three bids later, investors see no windfall
Multiple bidders for an asset are a good sign for the owners, as getting a good price is virtually certain. Except if the asset in question happens to be Fortis Healthcare Ltd. Three offers are on the table now. The valuation of a Fortis…
ONGC Petro Additions may raise Rs492 crore through CCDs
Mumbai: ONGC Petro Additions Ltd (OPAL) plans to raise Rs492 crore from Tata Mutual Fund and SBI Fund Management Pvt. Ltd through the sale of compulsorily convertible debentures (CCDs), two people aware of the development said. Tata Mutual…
Banks recover a pitiful proportion of massive amounts of bad loans they have written off
Between April 2014 and December 2017, public sector banks recovered a pitiful 10.7% of the massive Rs2.7 trillion worth of loans they wrote off during the period, shows a reply to a question in the Rajya Sabha. Written off loans are…
RBI keeps repo rate unchanged at 6%, cuts inflation forecast
Mumbai: The Reserve Bank of India (RBI) kept its policy rates on hold for the fourth straight meeting on Thursday and retained its “neutral” stance even as inflationary pressures have eased more than expected. The RBI kept its policy repo…
Insolvency may suspend many rights but not the minority’s right to disclosures
The lot of minority shareholders of companies undergoing insolvency proceedings is a sorry one. The popular narrative might be one where the promoters (who are also the management) have mismanaged affairs or worse. In reality, since the…
Cognizant tax dispute: ‘Operations remain unaffected’ by tax dispute, says CFO Karen…
Cognizant will deposit $75 million (Rs 420 crore), representing 15 percent of the disputed tax, to be kept in a suspense account by the ITD (Income Tax Department), with the remainder marked under lien, said the company in a press release.…
LIC trims stake in Sterlite Technologies by 2%
New Delhi: State-owned Life Insurance Corporation (LIC) has reduced its stake in telecom products manufacturer Sterlite Technologies by 2% after selling 80.28 lakh shares in the open market. As per a BSE filing, LIC, which had 5.30% stake…