Saturday, August 15
Shares of Puravankara Ltd surged more than 12% on Wednesday after the Bengaluru-based real estate developer reported double-digit growth in quarterly sales value and collections, snapping a five-day losing streak and briefly putting the spotlight back on a stock that has lagged the market over the past year.The stock climbed as much as 12.4% to Rs 258.60 after Puravankara released its business update for the December quarter, showing a sharp pickup in demand, stronger cash collections and steady execution momentum.Double-digit growth across key metricsPuravankara’s collections rose 22% year-on-year to Rs 1,140 crore in the December quarter, while sequentially they were up 9%, underscoring improving cash flows even as broader real estate sentiment has remained mixed.The company reported a
New Delhi: Senior IPS officer Rakesh Aggarwal was on Wednesday appointed as the director general of the National Investigation Agency (NIA). Aggarwal, a 1994 batch Indian Police Service (IPS) officer of Himachal Pradesh cadre, is currently special director general in the anti-terror agency. He has also been holding the additional charge of the post of DG, NIA.The Appointments Committee of the Cabinet has approved his appointment as DG, NIA for a tenure up to August 31, 2028, the date of his superannuation, an order issued by the Personnel Ministry said.
Outbound investments from India have scaled new heights in the recent years driven by the eagerness of Indian corporates to explore new markets, invest in modern technologies and availability of strategic assets beyond the Indian market, in addition to the relatively higher valuation multiples provided by the Indian markets as compared to the peers overseas. Indian corporates are engaging in outbound acquisitions to secure supply chains, acquire newer technology and talent, brand awareness and the likes.While Indian corporates have started embracing globalization, the Indian tax and regulatory framework has not been able to keep pace with the complexity of deal making. Although India’s tax regime for cross-border transactions has been amended considerably over the past decade to provide
