Power Finance not to extend open offer to REC’s minority holders

  Power Finance Corp said on Monday the company was not considering extending the open offer to the minority stakeholders for its deal with REC Ltd. There has been no finalisation on the deal value, the non-banking finance company said. The Indian government had approved a plan in December by one state-owned lender to the power industry, Power Finance, to buy a majority stake in a similar government-controlled lender, REC Ltd.

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Income Tax rules for AY, FY 2019-20: Nine Finance Bill 2019 power points put more money in your pocket

  Income Tax rules change: The Finance Bill 2019 mentions several changes to the Income Tax Act. These will come into effect when the Bill gets the approval of the parliament. The finance bill says that the existing rates of the income tax for the financial year 2019-20 have been continued. But relief has been provided to the taxpayers through certain amendments. These changes will put more money in the hands of individual taxpayers and help improve their lives. Take a look: 1. Income Tax standard deduction limit raise: The…

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RIL shares outperform Sensex after 7 years, rally may continue in 2016

Reliance Industries (RIL) shares outpaced BSE Sensex for the first time after seven years. The share price of the country’s largest private sector company surged 13.63 per cent in 2015 against 5.03 per cent fall registered by the benchmark index in the year gone by. In 2014, RIL shares fell 0.41 per cent against 29.89 per cent gain posted by Sensex. For the year 2016, market experts believe RIL can once again beat benchmark indices and can surge upto 28 per cent in the next 12 months. However, the 30-share…

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