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Larsen and Toubro (L&T) has fixed September 12 as the record date for its Rs 10,000 crore buyback, which will be done through the tender route. The record date will determine the number of shareholders who will be eligible to participate in the buyback. The company has recently received shareholder's approval for the same. Under the proposed buyback of shares, L&T will take back 3.3 crore shares from shareholders at a maximum price of up to Rs 3,000 apiece, a 17% premium from the market price from the date of announcement. «The buyback committee may determine the specific price at which the buyback will be made, at an appropriate time, which will be subject to the final buyback offer price and adjust the number of equity shares within the buyback size,» L&T said. This is the first buyback announced by the company since the listing. The amount required by the company for the buyback is intended to be met out of current surplus or cash balances or cash available from internal accruals. Under a buyback, the company buys back its own shares from shareholders and it is seen as a tax-efficient way to give cash back to investors.

The man at the centre of an alleged $15 million fraud scheme targeting Westpac was once linked to a conspiracy to help kill his cousin’s ex-wife.

Maggie Beer Holdings’ new chief executive says the gourmet food producer will be able to withstand lower consumer spending after posting a drop in sales and cutting the value of its gifts and hampers business.

CAG) of India has slammed the Mizoram government for incurring an «avoidable» expenditure of Rs 4.88 crore on formation cutting of Darlak-Sihthiang road in Mamit district due to «negligence». The CAG report tabled in the assembly by Chief Minister Zoramthanga in the recently concluded session said that the construction of the Darlak-Sihthiang road was undertaken under the Pradhan Mantri Gram Sadak Yojana (PMGSY) despite the village being already connected. It said that Sihthiang was connected by 11-km long Chuhvel-Sihthiang paved road, which is an all-weather road since December 2020. While the construction of the Chuhvel-Sihthiang paved road was being taken up in May 2016, an agreement was signed in August 2019 between Mizoram Rural Road Development Agency of the state Public Works department and contractors for the construction of Darlak-Sihthiang road at a cost of Rs 52.81 crore and the project was scheduled to be completed by June 2020. «The Detailed Project Report (DPR) for construction of Darlak-Sihthiang road indicated that Sihthiang village, with a population of 495 was unconnected from any part of Mamit district and the length of the proposed Darlak-Sihthiang road was 35.61 km and the estimated project cost was Rs 58.32 crore,» the audit report said. The contractor started the work in February 2020 and completed the formation cutting of 7.3 km in June 2021. However, the work was put on hold since July 2021 due to non-availability of Forest clearance and the department proposed for dropping of the project to the Ministry in July 2022, it said. Out of the contract value of Rs 52.81 crore, the PWD incurred expenditure of Rs 4.88 crore till April 2022. Meanwhile, test check of records of the Executive Engineer,

murder that might have been misjudged as a natural death was brought to light through an unexpected source: an automatic call recorder. The victim's family was led to the perpetrators and their intricate scheme, thanks to this technological twist. Kiran Yadav, aged 35, meticulously orchestrated the murder of her husband, Hakim Singh Yadav, through phone conversations with her boyfriend, Deepu Shakya, aged 20, just a mere 12 days into their long-distance relationship.

TVS Motor has undergone a transformative journey. This ability to understand and solve customer needs in markets globally and deliver satisfactory products, has emboldened the company to chart a bold new path. With a remarkable ability to weather economic fluctuations, TVS Motor has forged a reputation for resilience.

Pragyan, moving on the surface of the moon, is in a «race against time» and that the ISRO scientists are working to cover a maximum distance of the uncharted South pole through the six-wheeled rover. The scientist said that «real work» starts only after a soft landing on the moon's surface. India took a giant leap on August 23, as the Chandrayaan-3 lander module successfully landed on the moon’s South pole, making it the first country to have achieved the historic feat. The country became the fourth– after the US, China, and Russia – to have successfully landed on the moon’s surface. «On August 23, we achieved a soft landing on the lunar surface and Prime Minister Narendra Modi also interacted with scientists of ISRO to congratulate them. But, the real work started after rover Pragyan rolled out of the lander Vikram,» Desai said.

COVID-19 pandemic. Just a couple of years ago, the notion of participating at this level of competition seemed distant for Ramesh. In 2020, he was stationed as a ticket checker at the Trichy Railway Station, a job he himself admitted he was underperforming in.

draw India closer. In June Narendra Modi, India’s prime minister, undertook a state visit to Washington, where he was feted by the White House, Congress and business leaders alike. Europe, too, has been trying to get cosier.

China lowers stamp duty on stock trades, tightens IPOs to woo investors Beijing's current move is aimed at giving a boost to market sentiment as the world's second-largest economy has been struggling in the wake of the Covid-19 pandemic. Earlier in August, China's central bank went for a smaller-than-expected cut in a key lending benchmark to boost economic recovery. However, the demand for a more robust policy response and hefty government spending is growing.

Income Tax Department has received information about certain transactions reported by you in Form 60/61 relating to F.Y. 2021-22. It is requested that if you are not in occupation of a PAN number, the same may be applied in Form 49A immediately or else, the PAN Number should be submitted to the Reporting Entity within 15 days from the campaign execution date. -Income Tax Department.” This is an SMS many taxpayers have received recently from the Income Tax department. The income tax department’s official Twitter handle confirmed the sending of the SMS by tweeting: “This is a genuine SMS/Email from the Income Tax Department. Recipients of this SMS/Email may pl note: In case you do not possess a PAN, you are requested to obtain PAN and report PAN to the Reporting Entity(RE).....” Read on to find out what is Form 60 and why the tax department has been sending this SMS to taxpayers.

Reliance Industries shares last week makes it evident that investors are not expecting Mukesh Ambani to make some big-bang announcement at today's annual general meeting (AGM) of RIL. But if the billionaire reveals the roadmap for any further value-unlocking exercise, it could change the stock's trajectory in the near term. Shareholders of the demerged entity Jio Financial Services (JFSL), which has lost almost 20% from its listing price of Rs 265, are also eagerly waiting for Ambanis to spill the beans on the company's future plans. In FY 2019 AGM, while discussing the company's consumer-facing businesses of retail and Jio, RIL’s management had announced it would “move towards listing of both these companies within the next five years”.

Nischal Maheshwari, CEO-Institutional Equities, Centrum Broking, says “in a long-term portfolio, I would not bother for the next 5-10% fall in Jio Financial. I would start nibbling right away and on every 5% fall, I will keep on adding. I would go out and buy maybe 25% of whatever I wanted to buy today and thereafter every 5% fall I will keep on adding another 25%.”What is your take on RIL’s AGM? What will the market participants be watching out for given that there is no big-bang new announcement?One thing that the market and everybody is waiting for is what is going to be the plans for Jio which got listed a couple of days back and after the listing, the prices fell and then last Friday there was very aggressive buying by some of the mutual funds.

real estate developer, Evergrande Group are bleeding in red as the stock plunged 87% in Hong Kong trading as they started trading for the first time in a year and a half. Over 99% of the share value of embattled Chinese developers has been lost in the past three years. On Monday, Evergrande's market value shrank to just HK$4.6 billion ($586 million) from a peak of more than $50 billion in 2017.

leadership role, Brightcom Group's Chairman and Managing Director Suresh Reddy and CFO Naryana Raju have resigned from their post, said the company in its stock filing on Sunday. The decision was approved at the Board of Directors meeting of the company held on Sunday. Other than accepting the resignation, the board has also approved the search for an CEO and an CFO to ensure the smooth continuation of essential operations.

World Athletics Championships. The title was accomplished through a commanding javelin throw of 88.17 meters during the men's javelin final in Budapest, Hungary. “INDIAAAAA.

“India is standing out not only now, but it is likely to stand out in the forthcoming few years as well because the prime reason which is not discussed enough is that we are counter-cyclical to the western world, especially to the US,” says Aashish P Somaiyaa, Chief Executive Officer, White Oak Capital Management.In an interview with ETMarkets on the sidelines of Investing Accelerator Summit 2023, Somaiyaa said: “Apart from all the other structural positives that have been spoken about India, this is one thing which is not spoken enough” Edited excerpts:How should one pick the fund – is 1–year performance a good benchmark to select a fund?In fact, one-year performance is exactly not the benchmark. In fact, it is a contra-indicator, that is what my analysis kind of tells me. The thought about speaking on why winners rotate comes from the fact that when we track investor behaviour or even if you track fund flows in the industry, what you will find is typically a lot of money ends up going to people who have done very very well in the last 1 year or maybe in the last 3 years period. At this juncture, if you take the best performing fund of the last three years you put money in there, and then wait till August 2026 to see how it plays out — you will find is that the correlation between ranks for the last three years and the rank for performance in the subsequent three years, the correlation of these two ranks is practically nothing.

Narendra Modi gave to Chandrayaan-3's landing site on the Moon. He stated that Prime Minister Narendra Modi has narrated the reason why Shiv Shakti suits the name of the landing site. " ‘Shiv Shakti’ represented a combination of man and woman, the contribution of women in Isro, and the need to create that kind of synergy in the organisation.

Also Read: In a first, Chandraayan-3 sends temperature profile of Moon’s surface at various depths of South Pole Due to the absence of an atmosphere, the lunar surface experiences extreme temperature fluctuations. The ISRO depicted these variations through a graphical representation. "The presented graph illustrates the temperature variations of the lunar surface/near-surface at various depths, as recorded during the probe's penetration.

Suicides in Kota: Two more students surrendered to the mounting pressure to perform well and toxic competitive environment in Kota. Two teenagers preparing for NEET exam died by suicide in Kota on Sunday. With this, the grim tally of students suicide in Kota reached 23 for the year.

Many women who work at McMurdo Station, the main United States research base in Antarctica, say the isolated environment and macho culture have allowed sexual harassment and assault to flourish