BUSINESS
Tata vs Mistry: Cyrus Mistry side says AoA breached, no agenda for removal at board meeting
As the legal battle in the Tata-Mistry case entered its sixth day, senior advocate Shyam Divan, representing Sterling Investment - a Shapoorji Pallonji Group firm, contended before a bench headed by Chief Justice S.A. Bobde that the Tata Sons' Articles of Association of Tata Sons lay down the process of appointment of the Chairman, and should have been followed while in their removal.
Share Market: Global cues, FII inflows lift equity indices to new highs
Subsequently, the NSE Nifty50 reached a record high of 13,692.35, while S&P BSE Sensex touched 46,704.97 points level, following a strong market sentiments globally. In terms of sectors, realty, metal, auto and pharma indices were major gainers, while PSU banks were the main loser.
Cabinet Committee on Economic Affairs approves Rs 3,500 crore subsidy to export 60 lakh tonne sugar
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved the financial assistance of nearly Rs 3,500 crore for sugarcane farmers (Ganna Kisan), said an official statement.
IBM buys fintech firm Expertus to expand digital payment solutions
Founded in 2001, Expertus offers payment-as-a-service cloud solutions to banks, credit unions and enterprise players. Over $50 billion is processed through the Expertus platform daily. The financial terms were not disclosed.
India's GDP contraction expected to narrow down from 10.9% to 7.4%: SBI Ecowrap
"Our revised GDP estimates are based on SBI 'Nowcasting Model' with 41 high frequency indicators associated with industry activity, service activity, and global economy," the report said. "We have used the dynamic factor model to estimate the common or representative or latent factor of all the 41 high frequency indicators from Q4 of 2012 to Q4 of 2020 (till November actual data is used while trend is used for December)."
Government's greed for revenue keeps petrol, diesel prices close to all-time high levels
Taxes and duties now account for 62.5 per cent of the retail price of petrol and 57.77 per cent of the retail price of diesel in the capital at current level of pump prices. The taxes component has fallen over the fortnight as global price of petrol and diesel has also risen in past few days. Otherwise taxes were well over 70 per cent of the retail price of petrol till the start of the month.
Share Market: Global cues, FII inflows lift equity indices to new highs, realty stocks rise
The NSE Nifty50 opened with a "gap up" and reached all time high at 13666.45, following the strong market sentiments globally. In terms of sectors, Realty, Metal and Auto indices were major gainers. At 1.50 p.m., Sensex was trading at 46,623.03, higher by 359.86 points or 0.78 per cent from the previous close.
Equity indices rise; Sensex, Nifty hit new highs
Healthy buying was witnessed in realty, metal and auto stocks. Around 10.16 a.m., Sensex was trading at 46,503.27, higher by 240.10 points or 0.52 per cent from the previous close of 46,263.17. It opened at 46,573.31 and has so far touched an intraday high of 46,599.02 and a low of 46,479.10 points.
Tata vs Mistry: A Timeline Of India's Biggest Corporate Battle
As the Supreme Court has started final hearings in the dispute between Tata Group’s holding company and Shapoorji Pallonji Groups’ Cyrus Mistry, the longest and the most dramatic corporate battle seems to be nearing its end. On that note, let's rewind and take a look back at a friendship bond between two Parsi families shockingly turned into life-long rivalry.
Burger King's dream run continues, hits 20% upper circuit
On Wednesday, its shares on the BSE reached Rs 199.25, rising Rs 33.20 or 19.99 per cent from its previous close. The company's stock got listed on Indian bourses on Monday and on the debut day itself it opened at a premium of over 87 per cent over the IPO price at Rs 112.50.
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