Free Press Journal
  • Sensex recovers 260 points, Nifty above 10,500-mark

    Mumbai: Stocks staged a strong comeback in early trade with the BSE Sensex gaining over 260 points and the Nifty recapturing the 10,500-level on continued buying by domestic funds ahead of inflation data to be released after market hours today. Asian markets were also trading in the green after a late-day rally on Wall Street on Friday. The 30-share Sensex recovered by 260.12 points, or 0.76per cent, to 34,265.88 in opening trade.

  • Eight lakh companies on IT dept radar for not filing tax returns

    New Delhi: Director of 8 lakh companies may be prosecuted if their companies fail to file income tax returns from April 2018. In the recently announced Budget, the Government removed Tax liabilty cap of Rs. 3000. According to earlier provision companies having tax liability of below Rs. 3000 were exempted to file income tax returns. In this budget this cap has been removed, making Mandatory to all the registered companies to file

  • Home Loan Borrowers to get a big surprise and benefit from April 1, 2018

    In the ever changing dynamics of market and economy, The Reserve Bank of India (RBI), in a surprise move, has decided to link the base rate to the MCLR (Marginal Cost of Funds based Lending Rates) with effect from April 1, 2018, in a bid to harmonise the methodology of determining benchmark rates.

  • BSE Sensex

    Sensex plunges over 1,000 points, Nifty by over 2.20%

    Mumbai: Global cues, along with budgetary proposal to tax long-term gains on shares pulled the Indian equity market deep into the red during the morning trade session on Tuesday. Accordingly, the two main indices of the Indian equity market — S&P BSE Sensex and NSE Nifty50 — corrected by around 3 per cent.

  • No material impact of slippage in fiscal deficit: Moody’s

    New Delhi: The Budget for 2018-19 strikes a balance between fiscal prudence and growth, and a “slight” slippage in fiscal deficit has no material impact on overall economic strength. The government has revised its 2018-19 fiscal deficit projections to 3.3 per cent of GDP and for the current fiscal to 3.5 per cent of GDP, against original targets of 3 per cent and 3.2 per cent, respectively. “The revised fiscal consolidation path

  • Singtel to invest Rs 2,649 crore in Bharti Telecom

    New Delhi: Singapore-based telecom operator Singtel will invest Rs 2,649 crore in Bharti Telecom, increasing its stake in the Indian telecom major to 48.9 percent. “Airtel Limited…announced that Singapore Telecommunications Limited (Singtel)… will invest Rs 2,649crore in Bharti Telecom Limited (Bharti Telecom), the promoter company of Airtel through preferential allotment of shares,” Bharti Airtel said in a statement.

  • CBDT responds to queries regarding long-term capital gains taxation

    New Delhi: Responding to frequent queries regarding taxation of long-term capital gains as proposed in the Finance Bill, 2018, the Central Board of Direct Taxes (CBDT) on Sunday gave answers in the form of Frequently Asked Questions or FAQs. This form is now available on the website www.incometaxindia.gov.in.

  • PC jewellers, PC jewellers share prices, intra-day trade, business, fundamentals of the company

    PC Jeweller tanks 60 percent in intra-day trade, ends 25 percent down

    New Delhi: Shares of PC Jeweller came under heavy selling pressure today, crashing nearly 60 per cent in intra-day trade, but later recovered most of the lost ground after managements commentary that “the fundamentals of the company remain strong”. The stock faced severe drubbing amid sharp fall in the shares of Vakrangee Ltd, which had purchased shares of PC Jeweller late last month.

  • UIDAI, UIDAI allocation, Aadhaar, technology, business,

    UIDAI allocation at Rs 1,375 crore in FY’19

    New Delhi: Aadhaar-issuing body UIDAI has been allocated nearly 15 per cent more funds at Rs 1,375 crore for 2018-19, which are expected to be used for technology upgradation and strengthening the overall capacity. The Unique Identification Authority of India (UIDAI) was given Rs 900 crore in the last Budget, but later the allocation was revised to Rs 1,200 crore.

  • air india, jayant sinha, business, Minister of State for Civil Aviation, central government plans, Air India to be divest

    Air India to be divested by year-end: Jayant Sinha

    New Delhi: The central government plans to divest its stake in the national passenger carrier Air India by this year-end Minister of State for Civil Aviation Jayant Sinha said on Friday. The bidding process is expected to be finished by June, by when the winning bidder will be chosen, and all the “legal formalities” will be completed by December, Sinha said.

  • Apple posts record $88.3 bn in revenue despite fall in iPhone sales

    San Francisco: Despite a fall in iPhone sales, Apple has posted a record revenue of $88.3 billion — a 13 per cent increase from a year ago — for the holiday season quarter that ended on December 30 — pocketing $20.1 billion in profits.

  • Won’t need fresh equity till second half FY2019: MHFC

    Micro Housing Finance Corporation (MHFC) has been operational for over a decade. The vision of the company is to service low-income groups who have home-owner aspirations and whose professions or income levels are largely ignored by the mainstream companies. Effectively, it has initiated low-cost housing finance before it became a buzzword. Madhu Menon, Co-Founder and Director, discusses the current position and nuanced nature of their business in a chat with

  • BSE Sensex

    Sensex retreats from record level, down by 162 pts

    Mumbai: Retreating from its record high level, the benchmark BSE Sensex lost over 162 points in opening trade today on profit-booking in recent gainers amid weak leads from global markets. The BSE 30-share barometer fell by 162.24 points or 0.45per cent to 36,121.01 with IT, teck, healthcare, metal, capital goods and banking stocks falling up to 0.68 per cent.

  • Sensex, Nifty scale new peaks as February series turns bullish

    Mumbai: The BSE Sensex today soared about307 points to scale a new peak of 36,356.99 points in the opening session as participants widened their bets following the beginning of the February series in the derivatives segment. The broader NSE Nifty also soared to a new high of11,146.55 by surging 76.90 points or 0.69 per cent.

  • BSE Sensex

    Sensex build on gains, up 85 pts on fund inflows; F&O expiry

    Mumbai: The benchmark BSE Sensex rose by 85 points to 36,247.02 in opening trade today on gains banking and pharma stocks. Short-covering of bets, today being the last session of January expiry in the derivatives segment, kept the overall sentiment positive. The 30-share index spurted by 85.38 points or 0.23 percent at 36,247.02.

  • Tesla CEO Elon Musk could get $55.8 billion or nothing; all about the audacious deal

    Technology mogul and Tesla CEO Elon Musk is planning to ride in uncharted territory with his all or nothing pay deal structure. Tesla outlined a potentially massive – and massively unconventional – compensation plan for its unorthodox CEO on Tuesday, setting a series of ambitious growth targets that, if various conditions are met, could theoretically net Musk as much as $55.8 billion over the next decade, launching him to the top in