
Titagarh Rail Systems Ltd Spikes 2.41%
Titagarh Rail Systems Ltd rose 2.41% today to trade at Rs 958.6. The BSE Capital Goods index is up 0.52% to quote at 71920.7. The index is up 1.17 % over last one month. Among the other constituents of the index, Zen Technologies Ltd increased 2.34% and Bharat Heavy Electricals Ltd added 2.06% on the day. The BSE Capital Goods index went down 0.56 % over last one year compared to the 6.32% surge in benchmark SENSEX.
Titagarh Rail Systems Ltd has added 7.51% over last one month compared to 1.17% gain in BSE Capital Goods index and 3.16% rise in the SENSEX. On the BSE, 20125 shares were traded in the counter so far compared with average daily volumes of 2.16 lakh shares in the past one month. The stock hit a record high of Rs 1896.5 on 27 Jun 2024. The stock hit a 52-week low of Rs 655.3 on 04 Mar 2025.
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Time of India
30 minutes ago
- Time of India
Assam university's Rs 30 crore guesthouse turns luxury hotel, sparks row
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Indian Express
an hour ago
- Indian Express
ED raids 9 locations in PMLA case into Sahara Group ‘ponzi scheme'
The Enforcement Directorate (ED) carried out searches at nine locations in Ghaziabad, Lucknow, Sriganganagar and Mumbai on Monday under the Prevention of Money Laundering Act (PMLA), in connection with its investigation into an alleged 'ponzi scheme' involving the Sahara Group. In a statement, the agency's Kolkata zonal office said the probe is into Humara India Credit Cooperative Society Ltd and several other Sahara Group entities. The ED's probe stems from three FIRs filed in Odisha, Bihar, and Rajasthan under Sections 420 and 120B of the Indian Penal Code, along with more than 500 other FIRs registered against the group nationwide. Over 300 of these cases involve scheduled offences under the PMLA. According to the ED, Sahara Group allegedly ran a massive ponzi scheme through companies including HICCSL, SCCSL, SUMCS, SMCSL, SICCL, SIRECL, and SHICL. 'The funds were managed in an unregulated manner without depositor oversight, maturity proceeds were not repaid, and books were manipulated to camouflage such non-repayments,' the agency stated. Investigators claim the group continued to collect fresh deposits despite financial incapacity, diverting funds for questionable share transactions, benami asset creation, and personal expenses. 'Despite financial incapacity, the group continued to collect deposits, part of which was siphoned off for dubious share transactions, creation of benami assets and personal expenses,' the ED added. During Monday's raids, officials claimed to have seized incriminating documents and records, and recorded statements from key individuals. The agency has previously issued three provisional attachment orders in the case, freezing 707 acres in Amby Valley valued at nearly Rs 1,460 crore, 1,023 acres in Sahara Prime City Ltd worth Rs 1,538 crore, and movable assets belonging to Chandni Roy, wife of Sahara Group's Seemanto Roy, valued at Rs 14.75 crore.


Time of India
an hour ago
- Time of India
Growing size of surcharge, cess swells govt kitty: CAG
NEW DELHI: Comptroller and Auditor General of India (CAG) on Tuesday tabled a report in Parliament on the union accounts for 2022-23 and 2023-24, in which the auditor has, among other issues, pointed out how cess and surcharge collections have been going up over the years and become a significant part of tax revenues - at Rs 4.7 lakh crore in FY2022-23 and Rs 4.9 lakh crore in 2023-24, they contributed almost 12-14% of the total gross tax collection. The cess and surcharge collection saw a significant increase of Rs 1.7 lakh crore between 2018-19 and 2022-23. The collection increased massively during Covid years and reached around Rs 5 lakh crore in 2021-22. Surcharge, or tax on tax, alone increased by 207% from Rs 40,800 crore in 2021-22 to Rs 1.25 lakh crore in 2022-23. However, the auditor has raised concerns over govt not using the excess levy collected from citizens for the intended purposes. "Test check of records revealed aggregate impact of short transfer of Rs 3,69,307 crore, till March 2024, to the designated reserve funds," it said. Cess is an additional tax levied to raise funds for a specific purpose. These revenue streams are not shared with states, except GST compensation cess. "Total collection under cess and surcharge during FY2023-24 was Rs 4,88,316 crore. This was 14% of gross tax receipt, a marked reduction from its peak in FY2021-22 when it was 20.23%," CAG said. "We found that in respect of four reserve funds, Centre collected Rs 2.4 lakh crore through cess/levies/deposits from FY2018-19 to FY2022-23, but transferred only Rs 344 crore into the reserve funds. Short transfer has an impact of understating the revenue deficit," CAG observed. The reserve funds are Oil Industry Development Fund, Investor Education and Protection Fund, Agriculture Infrastructure and Development Fund and Senior Citizen Welfare Fund. The auditor also pointed out that Public Accounts Committee (PAC) had recommended in its 69th report that cess should have a well-defined purpose with a sunset clause for discontinuation if the objectives have been achieved. The major burden of cess & surcharge collection is on excise (27.38% of collection), Customs (8.35%), GST (26%), Income Tax (17.6%) & Corporation Tax (17.9%). GST compensation cess is expected to be phased off by 2026.