Ranbaxy now Makes $100 Million Annually

Africa hasRanbaxy been a hushed moneymaker for India’s major drug manufacturing company Ranbaxy making a

133K Indians Apply For H-IB Visas

H-IB visaThe US Citizenship and Immigration Services (USCIS) on Tuesday revealed that an estimated

Tax Levied On State-Owned Companies

The Constitution and List I in the seventh schedule says that tax on income is imposed by the Union government. The Constitution concedes exempt to state governments from charging income tax, also, state’s property and income is exempted from union taxation.

The exemption provided is for government as well as non-government activities of a state. But, state-owned companies or corporations claimed that their trade or business is carried on behalf of the state government and in reality, it is the state government which carries on business through them. The surplus generated by such activities belongs to the state government. Hence, they are entitled to be treated as state.

BEML Filing Red Herring Prospectus With SEBI

After receivingSecurities and Exchange Board of India cabinet’s clearance of a follow-on public offer, BEML is looking to file the red herring prospectus with SEBI this month. “The company was in the process of filing the red herring prospectus (RHP) with SEBI this month. “We intend to hit the market in the first half of June this year," said Natarajan, BEML chairman and managing director.
According to Natarajan, Rs 440-crore public issue would be made entirely through the book-building route. After the follow-on public offer, government holding in BEML would be 55% and the balance would be held by public and financial institutions.

ITAT Directs IT Dept To Refund Recovery From Skol

The Income-Tax Appellate Tribunal (ITAT) has directed the IT department to refund the amount it has recovered from Mumbai-based brewing company, Skol Breweries.
Rs 2.68 crore was recovered from Skol while an interim stay order passed by ITAT was in operation. ITAT, the quasi-judicial body for settling tax disputes, determined that IT department’s action was beyond its jurisdiction. The extraordinary order was approved by vice-president of ITAT, G E Veerabhadrappa, and its judicial member, Madhavi Devi.
As per case facts, on March 27, 2007, Skol Brewery requested the Tribunal, by moving an emergency stay petition, to intervene as the department had attached all its bank accounts after the I-T Commissioner rejected its stay petition.

Rupee Gets Heavy Against Dollar

Indian CurrencyThe rupees closed at 42.90 in comparison to dollar on Thursday, which has been recorded as the highest closing in past eight years. The rupee was grown to 42.84 per dollar and closed at 43.08 on Wednesday in intra-day trade. Treasury (British cabinet that is responsible for economic strategy) cleared that bargainers make short position in the hope that Reserve bank of India would not interfere to limit benefits. The rupees were around the 43.15 for the most part of the day.

Pages

News in Focus

Where to Play Best Live Baccarat in India?

Modern online casinos are actively developing a section with live games so that players can experience the excitement of being at the table in one of the largest casinos in the world.

BrainBees Solutions (FIRSTCRY) Share Price Target at Rs 530: Kotak Securities

In its latest research dated May 27, 2025, Kotak Institutional Equities reaffirmed a BUY rating on BrainBees Solutions (FirstCry), pegging a revised fair value of Rs 530 per share, down marginally

Gokaldas Exports Share Price Target at Rs 1,140: Sharekhan Research

Mirae Asset Sharekhan has reiterated a Buy recommendation for Gokaldas Exports (GKEL), setting a price target of Rs.

Hexaware Technologies Share Price Target at Rs 950: Motilal Oswal Research

Motilal Oswal has initiated coverage on Hexaware Technologies with a firm 'BUY' call, citing strong earnings potential, a diversified portfolio, and consistent execution.

BEML, HUDCO, Rail Vikas Nigam, BHEL, RITES, IRFC Stock Price in Focus; Dredging Corporation, GRSE Decline

BEML, HUDCO, Rail Vikas Nigam, BHEL and RITES were among major gainers in today's session. BEML stock jumped as the public sector major reported strong set of numbers.

Ashok Leyland Share Price Could Reach Rs 268: LKP Research

Ashok Leyland Limited (ALL), a bellwether of India’s commercial vehicle sector, delivered a resilient Q4 FY25 performance, driven by a combination of domestic volume momentum and stellar export gro