Funds

The Karnataka High Court ruled on Saturday that Franklin Templeton Mutual Fund will need to seek approval from unit holders before winding up six schemes with combined assets of some ₹ 28,000 crore ($3.8 billion). One of the country's most prominent fixed income fund houses, it shut six credit funds in April citing lack of market liquidity and redemption pressures...

The government on Saturday extended the due date for furnishing annual GST or goods and services tax returns for financial year 2018-19 by two months. The new deadline is December 31, instead of October 31. This is applicable to businesses filing annual returns as well as audit reports for the year to March 31, 2019. Earlier, the taxman had...

In order to stimulate consumer demand in the economy the government on Monday announced Special Festival Advance scheme wherein all the central government employees will be eligible for an interest free loan of ₹ 10,000 which they will have to utilize on festival related spending up to March 31, 2021. The loan will be given to central government employees by...

Domestic equity benchmarks staged their best winning streak of 2020 as benchmark indices extended gains to a seventh straight session on Friday, after the Reserve Bank of India announced a series of measures to boost liquidity in the banking system. The S&P BSE Sensex index rose as much as 390 points and the broader NSE Nifty 50 benchmark reclaimed...

Tata Consultancy Services (TCS) - the country's largest software services company - on Wednesday announced a buyback of shares worth up to ₹ 16,000 crore. The buyback comes at a time when TCS parent Tata Sons is engaged in a fight with one of its oldest shareholders, the Shapoorji Pallonji Group, which recently said "a separation from the Tata...

Tata Consultancy Services (TCS) - the country's largest software services company - on Wednesday announced a buyback of shares worth up to ₹ 16,000 crore. The buyback comes at a time when TCS parent Tata Sons is engaged in a fight with one of its oldest shareholders, the Shapoorji Pallonji Group, which recently said "a separation from the Tata...

The rupee pared initial gains and settled for the day 17 paise lower at 73.46 (provisional) against the US dollar on Tuesday. At the interbank forex market, the domestic unit opened at 73.17 tracking positive domestic equities and weak greenback, but soon pared the gains and finally closed at 73.46, down 17 paise over its previous close of 73.29. During the...

Finance ministry sources have countered CAG audit finding of central government wrongly retaining Rs 47,272 crore of GST compensation cess meant for states, saying temporary retention cannot be termed as diversion. Days after the Comptroller and Auditor General (CAG) flagged that the Centre in the first two years of the GST implementation wrongly retained GST compensation cess that was meant...

Billionaire Mukesh Ambani-led Reliance Industries said on Wednesday that the US-based investment firm KKR will buy a 1.28 per cent stake in its retail arm, Reliance Retail Ventures, for ₹ 5,550 crore. The transaction gave Reliance Retail an equity value of ₹ 4.21 lakh crore, Reliance Industries said in a regulatory filing before market hours on Wednesday. The deal...

Domestic equity benchmark Sensex surged 288 points on Tuesday, tracking strong buying sentiment in banking counters amid positive cues from global markets. The 30-share BSE index ended 287.72 points or 0.74 per cent higher at 39,044.35. The broader NSE Nifty rose 81.75 points or 0.71 per cent to 11,521.80. IndusInd Bank was the top gainer in the Sensex pack,...