IRCTC declares stellar interim dividend post IPO you will be shocked

 IRCTC declares 100% interim dividend which is Rs.10 per share

https://www.bseindia.com/xml-data/corpfiling/AttachLive/ec567ece-8727-4b7a-a004-3e86e8b8d0cc.pdf

Prataap Snacks Limited reports strong double digit growth in Q3FY20

Prataap Snacks Ltd. (PSL), (BSE- 540724), (NSE- DIAMONDYD) a leading Indian Snack Foods Company has announced its financial results for the quarter and nine months ended 31st December 2019:

Rs 4,500 crore mutual fund money at stake in Voda Idea; Templeton markdown hits 6 schemes

Mutual funds having exposure to Vodafone Idea’s corporate papers and shares are staring at possible losses as an adverse judgment from the Supreme Court threatens to down the curtains on the business. 

The telco’s survival will now depend on its ability to garner funds to pay the statutory dues and repay what it had borrowed from the market. 

The government has estimated Vodafone Idea’s dues at over Rs 53,000 crore, including over Rs 28,000 crore in licence fee, interest and penalties and the rest on spectrum usage charges. Besides, the company’s total debt stood at Rs 1.15 lakh crore at the end of FY2019, shows available data. 

Mutual fund investors have already taken the first hit from this, after Franklin Templeton India marked down its Vodafone Idea debt exposure to zero as a pre-emptive measure. It has also limited fresh inflows to the schemes having Vodafone Idea papers to Rs 2 lakh per day per fund per investor. 

“The large quantum of AGR dues and immediate payment timeline is resulting in significant uncertainty with respect to our exposure to Vodafone Idea,” Franklin Templeton said. 

Following these actions, net asset values (NAVs) of six of its funds have fallen 4-7 per cent due to the one-time write-off. As of January 16, total exposure of

IRCTC enables live streaming of its base kitchens all across India

With an aim to bring uniformity in passenger experience, the Company introduced new technology to watch the live production of food in its base kitchens. The live streaming of IRCTC’s several base kitchens across the country has been possible with the use of artificial intelligence. Recently IRCTC has installed high definition CCTV cameras in its kitchens and started monitoring the operations

Shiva cement has emerged as winning bidder in Odisha limestone mines

https://www.mstcecommerce.com/auctionhome/mlcl/RenderFileMLCL.jsp?file=Odisha-PB-Khatkurbahal-North-Limestone-Block-dated-01-Nov-2019.pdf

Ultra Tech Cement, Shiva Cement, BRPL Vie for Limestone Mines

Ultra Tech Cement, Shiva Cement, BRPL Vie for Limestone Mines 

Source:https://www.indiawhispers.com/2019/09/25/no-takers-for-odisha-limestone-graphite-mines-ultratech-shiva-acc-cement-auction-brpl/

Bhubaneswar: Odisha’s bid to offer limestone and graphite mines on auction has received tepid response. 

The State directorate of mines had invited bids for four limestone blocks and one graphite block in July, 2019. However, the response from the bidders is quite

A forensic audit of Dewan Housing Finance Corporation (DHFL) has found diversion of funds worth Rs 20,000 crore

A forensic audit of Dewan Housing Finance Corporation (DHFL) has found diversion of funds worth Rs 20,000 crore to private entities of the promoters, reports Moneylife.

The audit, carried out by KPMG, reveals that the funds were

Infosys Pandora’s box just opened

Another crisis is knocking at the door of Infosys, barely days after the company looked to be on the growth path, having completed its guided investment in order to be ready for the emerging environment.

A few anonymous employees of Infosys have accused its CEO Salil Parekh and CFO Nilanjan Roy of unethical practices for many quarters. The whistleblowers have alleged that employees have been instructed not to share large deal information with auditors.

Even more worrying is the fact that these whistleblowers who are calling themselves 'ethical employees' had sent a 2-page letter to company's Board of Directors on September 20 that did not elicit any response. Subsequently, a letter was written to the US-based office of the Whistleblower Protection Programme alleging wilful mis-statement and material accounting irregularities for the past two quarters (April-September).

What lies at the heart of the allegations is serious fudging of numbers by the top management to inflate profits and ensure share price performance. As per the allegations, revenue recognition has not been as per accounting standards, costs have been suppressed and in large deals, reviews and approvals are being bypassed and wrong assumptions are being made to show margins. According to the whistleblowers, several billion-dollar deals in the last few quarters have zero margins. Fingers have been pointed at the CEO's personal trips at the expense of the company as well. According to these employees, the management has shared only a rosy picture of the company with the board, investors and analysts, and key information has been deliberately withheld. In fact, according to the whistleblowers, Infosys treasury has also made changes to policies and taken extra risk to show higher profit.

Incidentally, Infosys has been a big outperformer in the past one year on the back of its improved execution and deal momentum.

In recent times, the Street had been comforted by the acceleration in revenue momentum – especially in the past two quarters. In the quarter gone by, Infosys also managed to

Kia Motors partners with Vodafone Idea to debut UVO connected system in Seltos SUV

Korean automobile manufacturer, Kia, recently joined hands with Vodafone Idea Business Solutions to provide connected car tech in the company’s debut launch in India, the Seltos SUV.
The company will introduce an e-SIM in the car, which will provide voice calling, SMS, 3G/4G data

The Dow Is Down After Reports the U.S. Is Considering Delisting Chinese Stocks

The Dow has dropped 155.18 points, or 0.6%, to 26,735.94, while the S&P 500 has fallen 1% to 2948.82, and the Nasdaq Composite has slumped 1.6% to