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The adequacy of TRC has often been questioned by the Income tax (I-T) department on the grounds that investing entities were mere dummies set up for treaty shopping and deriving tax benefit while actual control lay with holding companies and investors in other locations which do not qualify for tax exemption.

"We are consolidating our development finance book, but we still like the business; it is materially a sound business," said Jairam Sridharan, managing director, Piramal Capital and Housing Finance. "The fact that banks have got serious limitations in terms of how to lend to real estate is well known. So, where will the funding come from? We want to be among those providers."

Both benchmark contracts jumped on Wednesday after government data showed U.S. crude inventories fell by much more than analysts had expected, posting a drop of 5.89 million barrels for the week ending on Dec. 16. [EIA/S]

The stake has been acquired through its wholly-owned subsidiary Reliance Strategic Business Ventures

The number of Americans filing new claims for unemployment benefits increased less than expected last week, pointing to a still-tight labor market, while the economy rebounded faster than previously estimated in the third quarter.

"We have no choice but to act," he said in an interview with Le Monde paper published on Thursday. "Increases of 50 basis points may become the new norm in the near term."

The Dow Jones Industrial Average fell 143.13 points, or 0.43%, at the open to 33,233.35

The ex-date when the stock adjusts in price as per the corporate action announced falls is January 18. This means investors intending to buy the stock for bonus shares must buy it before January 18. The stock has recorded a significant run-up, with its 1-year return at 191%, while its year-to-date (YTD) return is at 163%.

Between November 16 and 30, when benchmarks rose to record high levels, foreign fund inflows logged Rs 7350 crore

Setting up the Social Stock Exchange is on the lines of a proposal made by the government in the Union Budget of 2019-20 (April-March) to create a platform for listing social enterprises and voluntary organisations