Author: Legal Parivar

Leading IT firms Tata Consultancy Services (TCS), Infosys, and HCL Technologies are gearing up to kick off the earnings season for the quarter ended March 2024. Here are the key dates for their upcoming financial result announcements: TCS Q4 Results: Infosys Q4 Results: HCL Technologies Q4 Results: These announcements mark the beginning of the financial reporting season for the IT sector, providing insights into their performance and outlook for the coming quarters.

The Finance Ministry has issued a clarification addressing the spread of misinformation on social media platforms regarding the new tax regime. It emphasizes that there are no new changes taking effect from April 1, 2024. Taxpayers retain the flexibility to choose between the old and new tax regimes based on their preferences and financial circumstances, with the option to opt out of the new regime until filing their return for Assessment Year 2024-25. Eligible individuals without business income can alternate between the old and new regimes for each financial year. In a post on social media, the Finance Ministry stated:…

Infosys: The IT giant anticipates a tax refund of ₹6,329 crore from the income tax department, alongside facing a significant tax liability of ₹2,763 crore based on assessment orders under the Income Tax Act of 1961. The refunds, covering assessment years from 2007-08 to 2018-19, include accumulated interest. Infosys is currently evaluating the impact of these orders on its financial statements for the quarter and year ending March 31, 2024. India Cements: Promoters of India Cements, led by Managing Director N. Srinivasan, have increasingly leveraged their shares to raise funds, aiming to address working capital deficits. By December 2023, promoters…

Renowned investor Ramesh Damani has completed his second term on the board of Avenue Supermarts, ceasing to be Chairman and Independent Director of the company as of March 31. Damani’s position has been succeeded by former Securities & Exchange Board of India (SEBI) Chairman Chandrashekhar Bhave, as announced by Avenue Supermarts, the operator of the DMart retail chain. In a regulatory filing, Avenue Supermarts stated, “Ramesh Damani has completed his second consecutive term as an Independent Director of the Company and has accordingly ceased to be the Chairman and Independent Director of the Company from the close of business hours…

Gold prices surged to a new lifetime high of $2,259 per ounce in the international market today, driven by escalating geopolitical tensions in central Asia and speculation of a dovish stance from the US Federal Reserve on interest rates. The spot gold price opened flat at approximately $2,233 per ounce but quickly gained upward momentum, reaching an intraday high of $2,259, setting a new record for the precious metal. Anuj Gupta, Head of Commodity & Currency at HDFC Securities, attributed the rise in gold prices to the increasing geopolitical tensions in the Middle East and speculation surrounding a potential rate…

On April 1, banks across most states in India will be closed for annual closing, marking the beginning of the new financial year 2024-25. While some states like Chandigarh, Himachal Pradesh, Meghalaya, Mizoram, Sikkim, and West Bengal will operate normally, most banks will focus on year-end formalities, necessitating overtime work from staff to complete essential procedures. In April 2024, banks will remain shut for 12 days, varying across states due to the Reserve Bank of India’s calendar, incorporating public holidays, regional holidays, Saturdays, and Sundays. The holiday calendar, determined by the RBI and state governments, reflects local customs and practices.…

Indian markets are poised to open higher on Monday following gains in Asian peers. The Gift Nifty was trading 50 points higher, indicating a strong start for the benchmark Nifty. Here are some key cues to consider before the market opens today: These factors indicate a positive sentiment in the Indian markets before the opening bell.

According to ANI sources, oil marketing companies (OMCs) in India have decreased the prices of both 19 kg commercial LPG cylinders and 5 kg Free Trade LPG (FTL) cylinders. For 19-kg commercial cylinders, the price cut amounts to ₹30.50, bringing the price in Delhi to ₹1,764.50 as of April 1. Additionally, the price of 5 kg FTL cylinders has been reduced by ₹7.50. This price adjustment follows two consecutive hikes in February and March. Earlier, prices were slashed by ₹39.50 per 19-kg commercial cooking gas cylinder on the eve of New Year 2024. Recent Trends: OMCs had announced a hike…

The Reserve Bank of India (RBI) has released its schedule for the monetary policy committee (MPC) meetings in the upcoming financial year 2024-25 (FY25), commencing on April 1, 2024. Led by RBI Governor Shaktikanta Das, the MPC comprises six members. The decision for the first meeting is scheduled to be announced on April 5 at 10 am. Here are the dates for the MPC meetings in FY25: Expectations for the upcoming meeting: The repo rate has been maintained at 6.5 percent since February 2023. Market fluctuations are expected to persist, particularly affecting stocks sensitive to interest rate changes. Analysts anticipate…

Delhi Capitals secured their first victory in IPL 2024 by defeating defending champions Chennai Super Kings by 20 runs on Sunday. Chasing a target of 192 runs, CSK struggled against pacers Khaleel Ahmed (2/21) and Mukesh Kumar (3/21), finishing at 171 for six. Despite efforts from Ajinkya Rahane (45, 30 balls), Daryl Mitchell (34, 26 balls), and MS Dhoni (37 not out, 16 balls), DC’s bowlers dominated the match. Earlier, strong half-centuries by captain Rishabh Pant and veteran opener David Warner propelled Delhi Capitals to 191 for five. Pant (51 off 32 balls) and Warner (52 off 35 balls) received…