Kotak Mahindra International Ltd, a subsidiary of Kotak Mahindra Bank, was the investment manager for trades undertaken by K India Opportunities Fund Class F a registered FPI that traded in the futures of Adani Enterprises a few days prior to the publication of a report on Adani group by Hindenburg Research, according to an investigation…
One could read as a metaphor the finance minister’s reference to Rameshbabu Praggnanandhaa’s well-fought battle with Magnus Carlson in her budget speech on Thursday. Ahead of the 2024 general election, finance minister (FM) Nirmala Sitharaman chose to place long-term welfarism over short-term populism, and in the process, delink the budget from the ballot. This strategy…
While the website does provide guidance to some extent, mistakes in filing can happen. Submitting the wrong form can result in the IT department treating it as invalid and rejecting it. In such a case, you can always submit a revised return with the correct details by 31 December to avoid income tax notice or…
Among the Sensex 30 companies, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, Wipro, Bajaj Finserv, Power Grid and IndusInd Bank were the biggest gainers. | Photo Credit: Reuters Benchmark equity indices rallied in early trade on June 21, with the NSE Nifty hitting a fresh all-time peak, helped by buying in IT stocks and…
A woman inspects garments at a knitwear export unit in Tiruppur. File | Photo Credit: S. Siva Saravanan The global textile industry, including textile machinery and garment manufacturing, continues to be concerned about “weak demand” in the market, according to a recent survey. The latest results of the International Textile Manufacturers Federation (ITMF) Global Textile…
After having surged to over 11-year high, silver prices will likely rule at elevated levels as the precious white metal will face a deficit for the fourth year in a row amidst tight supplies. On Wednesday, silver prices in London ruled at $31.75 per troy ounce. In India, silver for delivery in July on MCX…
Hindenburg Research has alleged that even though Kotak Bank created and oversaw the offshore fund structure used by an investor partner to bet against Adani stocks, Sebi masked the “Kotak” name with the acronym “KMIL” in the show cause notice issued by the market regulator to the short seller firm. Also read: Hindenburg says it…
The ₹1 trillion innovation fund announced by finance minister Nirmala Sitharaman in the interim budget on Thursday is expected to give a big boost to local technology development and manufacturing, and help India move beyond providing high-tech services towards development of products, experts said. In her interim budget speech on Thursday, Sitharaman said the fund…
The Central government has amended the Employees Pension Scheme (EPS), 1995 giving withdrawal benefits for employees with less than six months of service. According to a government statement on Friday, the amendment is believed to benefit more than 7 lakh EPS members who leave the scheme with less than six months of contributory service. The…
Image used for representative purpose only. | Photo Credit: REUTERS The rupee recovered from over two months low level and settled 6 paise higher at 83.55 (provisional) against the U.S. dollar on Friday, backed by sustained inflow of foreign capital and softening crude oil prices overseas. The local unit, however, faced resistance due to strengthening…
