The Supreme court on Wednesday directed the Income Tax department to refund ₹733 crore to Vodafone Idea within four weeks. The telecom giant had alleged that the tax au

Refund ₹733 cr to Vodafone Idea in 4 weeks: SC to IT Dept

The Supreme court on Wednesday directed the Income Tax department to&nbsp;refund ₹733 crore to&nbsp;Vodafone Idea within four weeks. The telecom&nbsp;giant had alleged that the tax authorities had not processed income tax refunds of ₹4,759 crore for four assessment years between 2014-15 and 2017-18. The company had been pressing the IT Department for the refund to get some financial relief from the&nbsp;₹58,254 crore statutory dues it owed to the Department of Telecommunications.

The Supreme court on Wednesday directed the Income Tax department to refund ₹733 crore to Vodafone Idea within four weeks. The telecom giant had alleged that the tax authorities had not processed income tax refunds of ₹4,759 crore for four assessment years between 2014-15 and 2017-18. The company had been pressing the IT Department for the refund to get some financial relief from the ₹58,254 crore statutory dues it owed to the Department of Telecommunications.

Dalal street cheered India's moderating Covid tally as the domestic benchmark indices logged their best single-day rally in almost two months. Nift

Dalal&nbsp;Street cheered India's moderating Covid tally as the&nbsp;domestic benchmark&nbsp;indices&nbsp;logged their best single-day rally in almost two months.
Nifty Bank surged 4% to record the biggest single-session gain since the budget day, contributing the most to a near 2% surge in Nifty and Sensex&nbsp;on Monday.
Nifty ended the session 1.67% higher at 14,923 and the Sensex&nbsp;closed 848 points higher at 49,580.
Shares of&nbsp;Hester Biosciences&nbsp;have rallied 33% in the past two trading days, after the company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from&nbsp;Bharat Biotech.

Just as it filed it’s papers for an IPO Wadia Group owned Go Air rebranded itself after 15 years of operations as "Go First”.Go Airlines is looking to

Just as it filed it&rsquo;s papers for an IPO Wadia Group owned Go&nbsp;Air rebranded itself after 15 years of operations as "Go First&rdquo;. Go Airlines is looking to raise Rs 3600 cr &nbsp;and has filed a draft red herring prospectus (DRHP) for an initial public offer (IPO) &nbsp;through issuance of fresh equity shares.&nbsp;The Wadia group owns 73.33% in the carrier which had faced a loss of&nbsp;Rs 1,270 cr for the year ending March 30, 2021.&nbsp; Pandemic blues are continuing for this budget airline that has been total passengers carried in March fall by a whopping 47% vs February, this was steep in comparison to Indigo&rsquo;s 29% drop.&nbsp; Rebranding may not take Go Air's legacy issues and concerns away. with three CEO changes in just three years investors may need more safety instructions from the top brass before taking off with this IPO.

Wall Street cracked as higher than expected reading of inflation spooked investors across the board. Inflation rose at its fastest pace in 13 years last month with

Wall Street cracked as higher than expected reading of inflation spooked investors across the board.&nbsp;Inflation rose at its fastest pace in 13 years last month with the Consumer Price Index spiking to 4.2% from a year ago.&nbsp; 30 stock Dow Jones Industrial Average fell 681.50 points, or 2% posting its worst day since January. The S&amp;P 500 lost 2.1% while the tech-heavy Nasdaq Composite slid 2.7% clocking in weekly decline to more than 5%.

Godrej Consumer is seeing a massive re-rating as the stocks jumped 20% in trade with volumes that are 50 times the 20 day average. So what is exciting investors ab

Godrej Consumer is seeing a massive re-rating as the stocks jumped 20% in trade with volumes that are 50 times the 20 day average.&nbsp; So what is exciting investors about Godrej&nbsp;Consumers? Brokerages such as CLSA&nbsp;have given a thumbs up to a change of management at the company. Godrej&nbsp;announced that&nbsp;Sudhir Sitapati&nbsp;from HUL&nbsp;will join the company as managing director and chief executive officer.&nbsp;Sitapati comes to GCPL after a tenure of 22 years at&nbsp;Hindustan Unilever&nbsp;(HUL), where he led teams across categories and functions in India, Europe, South East Asia and Africa. Godrej&nbsp;stock touched it's highest level since September 2018 in Tuesday's trade.&nbsp;

The government has reportedly proposed to slash import duties on steel items to zero or near-zero levels. A decision had been taken to review duties on steel products

The government is set to propose slashing import duties on steel items to near zero levels as per reports.&nbsp;
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in an effort to help the user industry which has been hit hard by rising price of the metal in the domestic market. Domestic hot-rolled coil (HRC) prices rallied to a multi-year high of Rs 56,000 per tonne marking a&nbsp;a jump of over 50 per cent in last 13 months.
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Sugar stocks have stolen the spotlight on Dalal Street with sweet returns of over 70% in the last month. Stock prices of Dhampur Sugar Mills, Dwarikesh Sugar

Sugar stocks have stolen the spotlight on Dalal&nbsp;Street with sweet returns of over 70% in the last month. Stock&nbsp;prices of Dhampur Sugar Mills, Dwarikesh Sugar Industries and Triveni Engineering have zoomed in the range of 70-75%, as compared to a 2% return on the benchmark index.&nbsp;
So, why is sugar the flavor of the month?&nbsp; Brazil and Thailand, the two largest sugar exporters in the world, are expected to witness lower production pushing global sugar prices higher ahead of the peak summer demand.&nbsp;Cane supplies are already tight due to a severe drought that&rsquo;s been ravaging yields in Brazil. Cane-crushing dropped 30% in the first half of April . Add to that the demand from the ethanol industry is also keeping prices elevated in the global market. In domestic market prices have moved up from Rs 30/kg to Rs 33-34/kg in the past 4 months and analysts expect prices to rise further from here.&nbsp;
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Dalal Street seems to be off synch with the covid crisis raging in the country with the benchmarks gaining over 4% in the last one month. This is in sharp contrast to&n

Dalal Street seems to be off synch with the covid crisis raging in the country with the benchmarks gaining over 4% in the last one month. This is in sharp contrast to&nbsp; the collapse of the market when&nbsp;the infection first hit the country in March 2020.&nbsp;&nbsp; &nbsp; Even as domestic investors continue to bet on the long term&nbsp;foreign institutional investors (FIIs)&nbsp;have&nbsp;pulled out $1.29 billion from the&nbsp;Indian stock markets. The FII selling is the highest since the beginning of the pandemic in India. This is in sharp contrast to FIIs pumping in $26.8 billion in equities in six months to March 2021.&nbsp; So&nbsp;what is out of favor with FIIs?&nbsp;Banking and financials saw the highest outflows in April at $ 1.12 billion followed by oil and gas ($466 million) and metals and mining ($ 242 million).&nbsp;&nbsp; FIIs were reallocating their money to defensives and value stocks. The two sectors that continue to see the highest inflow for the last two months are&mdash;FMCG and&nbsp;surprisingly&nbsp;realty. FMCG stocks saw an inflow of $244 million in April and $516 million in the previous month. In April, FIIs put in $213 million and $710 million in the previous month in real estate companies.&nbsp;&nbsp; &nbsp;

India's largest cryptocurrency exchange WazirX is facing heat on social media as its users could not place fresh bets due to a payment snag. For the last two-three days

India's largest cryptocurrency exchange WazirX is facing heat on social media as its users could not place fresh bets due to a payment snag. For the last two-three days, multiple users have taken to social media to complain about their deposit service.
WazirX&nbsp;in response said that the delay in accepting funds was due to a network issue at its banking partner's end. It added that the money that was debited from traders' accounts would be credited back ASAP&nbsp;and the funds were safe.&nbsp;
This is not a new issue for users even last&nbsp;week, many&nbsp;users had posted complaints on social media about transaction delays, payment failures and their money getting stuck.&nbsp;To which the company had said&nbsp;its servers were being overwhelmed by traffic caused by the massive demand for Dogecoin. In the past 10 days, the crypto&nbsp;world has seen a sharp surge in demand for Dogecoin&nbsp;and Ethereum.
An upsurge in traffic could also be the potential reason for the glitch.&nbsp;WazirX&nbsp;added one million users during April and is eying to onboard 10 million customers on its platform by the end of the ongoing quarter.
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Dogecoin continues its journey 'to the moon' as the cryptocurrency surged over 12,000% since the beginning of 2021. The meme-coin touched an all-time h

Dogecoin&nbsp;continues its journey 'to the moon' as the cryptocurrency&nbsp;surged over 12,000% since the beginning of 2021.&nbsp;
The meme-coin touched an all-time high of $0.72 in the late trading session on Wednesday as per the cryptocurrency&nbsp;exchange WazirX.
As per&nbsp;CNBC&nbsp;calculation,&nbsp;a $1,000 Dogecoin purchase on January 1, 2021, would be worth over $120,000 on Wednesday. In domestic currency terms, an investment of ₹1 lakh&nbsp;in January would be around ₹1.2 crore&nbsp;now.

foreign portfolio investors now hold a record 24.9% in Mukesh Ambani backed Reliance Industries as of March 2021. This is much higher than the average 20% tha

Foreign portfolio investors now hold a record 24.9% in Mukesh&nbsp;Ambani&nbsp;backed Reliance Industries as of March 2021. This is much higher than the average 20% that FPIs have held in the conglomerate over the last decade.&nbsp; The Euro pacific funds and Government of Singapore were among the top&nbsp;FPI&nbsp;investors in RIL with stakes of 2.7% and 1.2% respectively.
Domestic mutual funds however has reduced their exposure in RIL to nearly a 3 year low of 4.3% in March from a peak of 5.3% in June 2020. This could be attributed to the underperformance&nbsp;by the heavyweight.&nbsp;RIL&rsquo;s stock has underperformed the Nifty 50 by 36% in the past six months.

Profit booking kicked in on Dalal Street as bulls retreated into the weekend on a backfoot. Sensex shed 984 points to end the day at 48,782 and the 50 st

Profit booking kicked in on Dalal&nbsp;Street as bulls retreated into the weekend on a backfoot. Sensex&nbsp;shed&nbsp;984 points to end the day at 48,782 and the 50 stock benchmark Nifty shut shop at day's low at&nbsp;14,631 in Friday's trade.&nbsp;&nbsp;Profit booking weighed on&nbsp;markets&nbsp;following four straight sessions of gains despite the raging covid&nbsp;crisis in the nation.&nbsp; Buying in pharma stocks was the only spot of green on the screen, with Bank Nifty leading the losses in the sectoral indices&nbsp;with HDFC&nbsp;twins sinking 4%, followed by ICICI and Kotak&nbsp;Mahindra&nbsp;Bank.&nbsp;
On a weekly basis, both the frontline indices snapped their 3-week losing streak and added around 2% higher each.&nbsp;
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Taking note of rapidly changing business environment and difficulties faced by companies amid the covid crisis market regulator has extended the timelines for vari

Taking note of rapidly changing business environment and difficulties faced by companies amid the covid&nbsp;crisis market regulator has extended the timelines for various regulatory filings, including financial earnings.&nbsp; SEBI&nbsp;has extended the deadline for March quarter and annual results to June 30 vs May 15 &amp; 30 set earlier.&nbsp; SEBI&nbsp;had provided the same extension in 2020 as well in the wake of the first covid&nbsp;outbreak.&nbsp;

Slumping business activity to outflows of funds, it's a Déjà Vu of March 2020 for business news headlines. Foreign investors have sold over $1.1

Slumping business activity to outflows of funds, it's a D&eacute;j&agrave; Vu of March 2020 for business news headlines.&nbsp;Foreign investors&nbsp;have sold over $1.1 billion worth of equities in April, the biggest outflow since March last year when the nation went into lockdown.&nbsp; Meanwhile brokerage house Nomura&nbsp;highlighted that business activity suffered its steepest weekly fall in over a year and also warned that with more states extending restrictions, sequential momentum is likely to remain weak over the next month.&nbsp;

Wage hikes, one time bonus coupled with muted revenue led to a 25.6% drop in profits for Shiv Nadar founded HCL Technologies. Consolidated profit at Rs&n

Wage hikes, one time bonus coupled with muted revenue led to a 25.6% drop in profits for Shiv Nadar&nbsp;founded HCL&nbsp;Technologies.&nbsp; Consolidated profit at Rs&nbsp;2,962 cr&nbsp;for the quarter ended March 2021 missed analysts estimates and so did dollar revenue that grew merely 3% in the Jan-March quarter.&nbsp; HCL&nbsp;Tech however remains optimistic about the outlook having won 19 large deals in the quarter gone by that should translate to better growth in FY'22.

Cryptocurrency Bitcoin collapsed nearly 8% to fall below the $50,000 mark as fears of a spike in capital gains tax spooked Bitcoin holders. US Presi

Cryptocurrency&nbsp;Bitcoin&nbsp;collapsed nearly 8% to fall below the $50,000 mark as fears of a spike in capital gains tax spooked Bitcoin&nbsp;holders.&nbsp; US President is likely to propose doubling capital gains tax to nearly 40% from the current rate of 20% reported Bloomberg.&nbsp;US investors in Bitcoin, which has advanced more than 70% this year already face a capital gains tax if they sell the cryptocurrency after holding it for more than a year.
The cryptocurrency&nbsp;is down over 20% this week marking it's biggest weekly fall since March 2020.&nbsp;

US Markets sank 300 points on reports that US President Biden is planning to hike capital gains tax to as high as 43% from the current 20%.The proposal as per

US Markets sank 300 points&nbsp;on reports that US President Biden&nbsp;is planning to hike capital gains tax to as high as 43% from the current 20%. The proposal as per Bloomberg&nbsp;reports would hike the capital gains rate to 39.6% for&nbsp;those earning $1 million or more, up from 20% currently.&nbsp;Reports said the US president is expected to release the proposal formally next week as a way to fund spending in the upcoming American Families Plan. The 30 stock Dow Jones 1%, The S&amp;P 500 erased earlier gains and closed 0.9% lower, while the tech index&nbsp;Nasdaq Composite slid 0.9%.

Rakesh Jhunjhunwala remains bullish despite the pandemic odds as he sees a double digit growth and he doe not see the markets going through a free fall in this pan

Rakesh Jhunjhunwala&nbsp;remains bullish despite the pandemic odds as he sees a double digit growth and he doe not see the markets going through a free fall in this pandemic wave
The ace investor told the audience at an AIMA&nbsp;event that the metals sector will be a key beneficiary. He said the demand for metals will be huge and that investors have largely ignored the sector in the past 10 years.
Jhunjhunwala&nbsp;is also predicting that the most battered stocks in the mid- and small-cap universe will give the best returns.

Wall Street had a terrific Thursday with Dow closing above the 34,000 mark and S&P 500 soaring to a record high as falling yields boosted bets on tech stocks.

Wall Street had a terrific Thursday with Dow closing above the 34,000 mark and S&amp;P 500 soaring to a record high as falling yields boosted bets on tech stocks.&nbsp;
Tech backed Nasdaq Composite closed&nbsp;above 14,000 for the first time since Feb. 16 as&nbsp;benchmark 10-year Treasury yield slipped below 1.6% for the first time since March 25.
Economic data continues to be supportive with&nbsp;U.S. jobless claims dropping to the lowest level since March 2020 and retail sales jumping 9.8%&nbsp;in March beating estimates.&nbsp;
The S&amp;P 500 has gained 1% this week, on pace for its fourth straight positive week.&nbsp;

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-: Broke

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:
<ul>
<li>Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.</li>
<li>Large wage hikes across the board by companies in March will keep margins flat</li>
<li>TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction</li>
<li>Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter</li>
<li>ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.</li>
</ul>
Alert: TCS reports Earnings on April 12, Infosys April 14

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted. Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.

After 8 months of outflows the curse on equity mutual funds seemed to have been lifted.&nbsp;Equity-oriented schemes in March have reported net inflows of Rs 9,115 cr.
As per AMFI&nbsp;data&nbsp;Gross redemptions in March came in much lower at Rs 18,908 crore for equity schemes vs Rs 30,000 cr in previous months. Investment in SIP also saw a big boost of inflow of Rs 9,100 cr.&nbsp; Debt-oriented schemes however saw net outflows of over Rs 52,000 cr.
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Markets

Markets see biggest rally in two months as Covid numbers drop

Go Air becomes “Go First”, files IPO papers

US markets crack, see biggest drop in 4 months as inflation spooks investors

Stock Alert! Godrej Consumer sees volumes 50 times above average

Steel import duties may be cut to zero as prices jump 50%

Stock Alert! Investors find a sweet spot in the market, get 70% return in one month

FII's pull out $1 billion from stocks, where is the smart money moving?

Cryptocurrency traders annoyed with India's largest exchange WazirX

'Dogecoin to the moon'; ₹1 lakh invested this year would be ₹1.2 crore

Foreign investors bet on Ambani backed Reliance; holdings rise to record high

Profit booking on Dalal Street, Markets end at day's low with Sensex slumping almost a 1000 points

Earnings calendar gets stretched, SEBI gives India Inc more time to report results

Foreign investors pull out $1 billion from equities as India sees record covid cases

HCL Tech Q4 misses the mark as profit falls 26% but strong deal pipeline keeps brokerages enthused

Bitcoin collapses on fears of capital gains tax doubling in US

Biden looking to raise capital gains tax to 40%, US markets sink

Rakesh Jhunjhunwala remains bullish, bets on metals and battered midcaps

US Markets rally, Dow closes above 34,000, S&P 500 hits record as yields slide

Tech to kickstart earnings on Dalal Street, what to expect?

Finally some inflow! Equity MF sees net inflow after 8 months

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