Block deals on the rise as institutional investors look to book profits

At a time when the benchmark indices are touching new highs on a regular basis and the markets are showcasing ample buoyancy, institutional investors are using the block deal route to book profits on their investments. As per data from Prime Database, the five-month period between January and May saw a total of 392 block deals with a cumulative value of Rs 86,036 crore. Market participants attribute this trend to private equity players who have been consistently selling blocks of shares on which they have been sitting on significant notional gains. Read here

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S&P issues credit rating for six Tata Group companies, including Tata Motors, Tata Steel, Tata Power

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Liable to pay advance tax? Pay the first installment by today

Tax-payers have to pay advance tax for the financial year in four installments – June 15, September 15, December 15 and March 15 – if their estimated tax payable exceeds Rs 10,000. If they fail to do so or delay the payment, they will have to shell out penalties. Read more here