India News

Tata Motors near seven-month high; stock surges 16% in six days

Shares of Tata Motors continued their their northward journey, trading close to seven-month high of Rs 185, up 2 per cent on Wednesday, on the back of a slew of positive news.

The commercial vehicles major's stock has rallied 16 per cent in the past six trading days, as compared to 3 per cent rise in the benchmark S&P BSE Sensex.

A question worth $ 680 mn: What did Anil Ambani know about the unpaid loan?

Anil Ambani, the younger brother of Asia’s richest man, faces a $680 million legal test to answer one and only one question: Just what did he know about what his employees were doing on his behalf? Other Indian tycoons will take an abiding interest in his defense.

The $680 million is the amount Industrial & Commercial Bank of China Ltd. is seeking to recover from the former Indian billionaire by invoking what they say is a personal guarantee he gave in 2012 to secure a $925 million loan for Reliance Communications Ltd., his mobile services firm that’s now in bankruptcy.

Anti-Citizenship Act protests: FIR filed against former Congress MLA Asif Khan in Jamia violence

Asif Muhammad Khan, a former Congress MLA, has been booked for instigating the crowd against the police during protests on Citizenship Amendment Act (CAA) near Jamia Millia Islamia University on Sunday.

The FIR mentioned that Khan instigated the crowd which lead to the susequent clash between the protestors and the policemen. The protestors pelted stones at the policemen, and in return, the police fired tear gas shells.

Prestige Estates surges 6% on fund raising plan via preferential issue

Shares of Prestige Estates Projects surged 6 per cent to Rs 347 on the BSE on Wednesday, extending its previous day’s 4 per cent gain, after the company announced fund raising plan via preferential issue. In comparison, the S&P BSE Sensex was up 0.23 per cent at 41,446 level at 09:53 am.

The board of directors of the real estate developer is scheduled to meet on Friday, December 20, 2019 to consider and approve raising of funds through preferential issue to an identified allottee, Prestige Estates said in a regulatory filing on Monday after market hours.

PC Jeweller slumps 7% after Sebi seeks show-cause in insider trading case

Shares of PC Jeweller slumped 7.14 per cent to Rs 24.05 per share on the BSE on Wednesday after market regulator Securities and Exchange Board of India (Sebi) demanded a show-cause from those whom it identified to have benefitted, in the insider-trading case, from price-sensitive information pertaining to the company’s buyback announcement and its subsequent withdrawal. It also ordered impounding Rs 8 crore from the alleged insiders.

At 7.2 degrees, today marks the coldest day yet of winter for Delhi

Wednesday marks a bitterly cold day for Delhi. In fact, the coldest day yet of the season, according to the Met Department projections. With the minimum temperature at 7.2-degree Celsius and the maximum temperature at 14-degree Celsius, Delhiites are probably going to need an extra layer of insulation than other days, to keep themselves out of the clutches of the biting winter.

Winter intensified in the national capital since Monday, when the intensifying political atmosphere in the country marked a race against the falling temperature.

Infosys fined $800,000 for worker misclassification, tax fraud in US

Infosys, India's top IT major, has agreed to pay $800,000 to settle allegations of misclassification of foreign workers and tax fraud, officials announced Tuesday.

Infosys will pay California $800,000 (nearly Rs 56 crore) to resolve allegations that between 2006 and 2017, approximately 500 Infosys employees were working in the State on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said.