Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its … Read more
Steve Cohen’s Point72 and Ken Griffin’s Citadel are investing $2.75 billion in Melvin Capital. Melvin is down about 30% this year as its short positions are getting hammered. Day traders have bid up the stock prices of GameStop, Bed Bath & Beyond, and other popular shorts. Visit Business Insider’s homepage for more stories. A pair … Read more
Billionaire Mukesh Ambani’s Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing … Read more
Amazon-backed food delivery startup Deliveroo is anticipated to float in 2021, marking a rare high-profile British technology float. Like rival Uber Eats, Deliveroo allows consumers to order restaurant food via an app and relies on a network of gig economy cyclists and motorcyclists to make the deliveries. During the coronavirus pandemic, it has expanded into … Read more
What makes companies stock market favourites? They dare to dream. As equity indices scaled fresh peaks in 2021, here’s how an initial push of Rs 10,000 fared over the decades in the below mentioned stocks. IT stocks Infy: Rs 1.5 crore (1995*) Infosys is the stuff of middle class dreams. It was founded as an … Read more
Entrepreneurs and freelancers have long relied on coworking spaces to run their businesses. Real estate and coworking experts predict other options will replace coworking for the self-employed post-pandemic. These changes include more virtual coworking sessions, more permanent home offices, and unique spaces like Airbnbs, hotels, and boats. Traditional coworking often involves sitting shoulder to shoulder … Read more
A high-level government panel recommended decriminalisation of 12 compoundable offences and the omission of one penal provision under the Limited Liability Partnership (LLP) Act. The Company Law Committee (CLC) also suggested, in a report released on Monday, the introduction of the concept of a small LLP in line with small companies under the Companies Act, … Read more
Franklin Templeton Mutual Fund on Sunday said its six shut schemes have received Rs 13,789 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF shut six debt mutual fund schemes on April 23, 2020 citing redemption pressures and lack of liquidity in the bond market. The schemes — Franklin … Read more
With this, the total incidence of excise duty on petrol rose to ₹ 32.98 per litre and that on diesel to ₹ 31.83 a litre. While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48% in the current fiscal on the back of a record increase in taxes on petrol and … Read more