L&T Technology Services has reported a jump of 84% in their net profit as issued on Wednesday, amounting to Rs. 216.2 crores. The company’s overall revenue has also increased by 19.42% to Rs. 1562.6 crores for this quarter, and the operating profit has increased 5.20% to 17.3%, the highest in recent times. Following a strong …
An Overview The assertions that mutual fund investors can be equated with debtors or house buyers under the relevant statutes were deemed “unsound and discordant” by the Supreme Court on Wednesday. The observations were made by the Supreme Court in a case that found that trustees must obtain majority unitholder permission before terminating mutual fund …
The market cap of companies listed on the BSE touched an unprecedented high of Rs 233 lakh crore on Wednesday, on the back of optimism in the market. The benchmark index, BSE Sensex, also gained over 134 points or nearly 0.25 per cent, to touch 52,904 on Wednesday. The listed companies on the BSE universe …
India’s foreign exchange reserves have grown to over $610 billion, on the back of foreign direct investments and the inflow of foreign institutional or portfolio investors into the stock markets, which have seen a sustained bull run over the past year. According to the Reserve Bank of India (RBI) data, for the week ended July …
An Overview of June’s Performance According to SEBI data, the gross acquisition of equities by domestic fund managers in the secondary market was Rs. 83,006 crores in June, compared to a five-year average of Rs. 58,187 crores. After Rs 1.2 lakh crore in March 2020, the gross acquisition in a single month in June was …
Retail investors can now start an account with India’s apex bank to trade in government bonds. Earlier this year, RBI granted direct access to the government bond market for retail investors. With both these moves into play, trading in government bonds for retail investors has now become accessible. Key highlights of this move RBI’s move …
S&P Global Ratings have retained India’s sovereign rating to BBB-, but with a stable outlook. The US-based credit rating agency mentions that, even though growth risks are rising, India’s economy and fiscal position will start to recover from the current financial year onwards. S&P forecasts the real GDP growth to rebound to 9.5%. S&P’s affirmation …
According to a report from SaaSBOOMi, India’s SaaS (Software as a Service) firms are about to reach $1 trillion in valuation by 2030. Moreover, they will contribute to nearly half a million job creation in India. SaaSBOOMi, a community of industry founders and project leaders, in collaboration with McKinsey and Company and NASSCOM, has compiled …
The Federation of Automobile Dealers Associations’ (FADA) June 2021 report mentions a YoY increase in total vehicle sales by 22.6%. However, this figure is short by 28% compared to the vehicle sales of June 2019. Auto retail sales hike – a closer look While automobile dealerships across the country are still not fully operational due …
Cryptocurrency is a digital or virtual currency that uses cryptography or blockchain technlogy to secure online transactions. These are not government regulated currency but based on online trading value that depends on crypto market. Crypto tokens are are not accepted as an substitute of real currency, and thus, one must exchange them for real money …
