Latest news with #2002
Yahoo
25-05-2025
- Business
- Yahoo
Stock-Split Watch: Is AT&T Next?
The most recent AT&T stock split was a 1-for-5 reverse split in 2002. The telecom company has announced share buybacks. That announcement and positive earnings reports have helped AT&T outperform the market in 2025. 10 stocks we like better than AT&T › The stock market isn't having a great year, with the S&P 500 down 0.4% at the time of this writing. Not all companies have been equally affected by tariff announcements and the possibility of a recession, though. AT&T (NYSE: T) has been one of the better defensive stocks in 2025, as it's currently up 20.2% on the year. Some companies decide to split their stock after a big increase in share price. AT&T hasn't had a stock split in decades, so let's see if that's likely to change soon and where this telecom company stands as an investment. AT&T has completed three forward stock splits: A 3-for-1 split in 1987 and 2-for-1 splits in 1993 and 1998. It also completed a 1-for-5 reverse stock split in 2002, going from just over $5 per share to $25.41. Forward stock splits and reverse stock splits both affect a company's number of outstanding shares, but in opposite ways. A forward stock split means more shares for investors and a lower share price, which can be helpful when the company's share price has gotten expensive. A reverse stock split means fewer shares and a higher share price, and it's sometimes done if a stock is in danger of being delisted because its share price is too low. AT&T isn't in a position where it needs to complete a forward or reverse stock split. Shares are under $30 as of May 22, so they're already affordable. And the share price isn't so low that a reverse stock split makes sense. However, AT&T did announce something better than a stock split at the end of 2024. It plans to return $40 billion to shareholders through 2027, equally split between dividends and share buybacks. When a company buys back its shares, the number of outstanding shares decreases. Investor holdings generally get more valuable, since they now own a greater share of the company. AT&T, along with competitors Verizon Communications (NYSE: VZ) and T-Mobile US (NASDAQ: TMUS), are generally considered good safe havens during economic uncertainty. Their main sources of revenue are wireless phone and internet service, which are services that people pay for every month and rarely give up. In AT&T's case, it reported $21.6 billion in revenue for the first quarter of 2025, and 77% of that ($16.7 billion) came from services. Operating income was $6.7 billion, a 2.4% year-over-year increase. Compared to its main competitors, AT&T trails Verizon by almost $3 billion in revenue, but is ahead of T-Mobile by nearly $10 billion. Those quarterly revenue numbers for AT&T surpassed analyst expectations, and it beat expectations the previous quarter, as well. Overall, AT&T has improved its balance sheet since taking on large amounts of debt for media acquisitions that didn't pan out, most notably the Time Warner deal. Since the beginning of 2020, AT&T has reduced its net debt by $32 billion. Another area where AT&T is doing well lately is subscriber growth. It added 324,000 postpaid phone customers in Q1. That was much better than Verizon, which lost 289,000, but not as good as T-Mobile, which added 495,000. AT&T is most appropriate for investors looking for stability in a turbulent market. It has a resilient business -- revenue might dip if customers downgrade their plans or stop upgrading their smartphones to cut back on their expenses, but it probably won't fall off a cliff. It's also not expensive, with a forward price-to-earnings ratio under 14. This stock may be worth considering if you want to build passive income from dividend investing. AT&T has a fairly high dividend yield (4% at the current share price). But it's also worth mentioning that AT&T cut its dividend in 2022, a necessary step to free up more cash and pay down debt. Given the $20 billion AT&T is planning to spend on dividends through 2027, it could increase the payout. Even though AT&T has outperformed the market this year, it'd be overly optimistic to expect that going forward. If we look further back, AT&T has underperformed the S&P 500 over the last three, five, and 10 years. This isn't the right stock for anyone looking to maximize growth. If you're looking for a company that may split its stock soon, AT&T isn't the best choice, either. It makes the most sense as a defensive investment that pays a healthy dividend. Before you buy stock in AT&T, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and AT&T wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Lyle Daly has no position in any of the stocks mentioned. The Motley Fool recommends T-Mobile US and Verizon Communications. The Motley Fool has a disclosure policy. Stock-Split Watch: Is AT&T Next? was originally published by The Motley Fool
Mint
23-05-2025
- Business
- Mint
₹12,000-crore Jaypee Infratech fraud case: ED conducts searches at 15 locations in Delhi-NCR, Mumbai
The Enforcement Directorate (ED) conducting searches on Friday in connection with ₹ 12,000-crore fraud case allegedly involving Jaypee Infratech, Jaypee Associates Limited and others. They are being probed under the Prevention of Money Laundering Act, 2002 (PMLA) over alleged fraud with homebuyers and investors and siphoning/diversion of funds. Accoridng to news agency ANI, the search was conducted at 15 premises located in Delhi-NCR and Mumbai which include Jaypee Associates and its associated entities, Gaursons, Gulshan, Mahagun and Suraksha Realty.
Indian Express
23-05-2025
- Business
- Indian Express
TASMAC Case: As Supreme Court frowns at ED, allegations against Tamil Nadu's liquor retailer
The Supreme Court on Thursday stayed proceedings in the Enforcement Directorate's (ED's) money-laundering investigation into government-run liquor retailer Tamil Nadu State Marketing Corporation (TASMAC), saying that the central agency was 'crossing all limits' and 'violating the federal structure'. A two-judge Bench of Chief Justice of India (CJI) B R Gavai and Justice A G Masih was hearing the Tamil Nadu government's plea challenging the ED searches at the TASMAC headquarters. 'How can [there be] an offence against [the] corporation?… You may register against individuals. How corporation in criminal matter?' CJI Gavai asked Additional Solicitor General S V Raju, who appeared for the ED. 'You are totally violating the federal structure… The ED is crossing all limits,' the CJI said. TASMAC is a state monopoly that operates about 7,000 liquor outlets in Tamil Nadu. The ED is investigating alleged financial irregularities in its functioning. Raju told the SC that there had been a fraud of Rs 1,000 crore involving politicians. Between March 6 and 8, the ED carried out searches at 20 locations, including the TASMAC headquarters in Chennai. The ED, Chennai, began an investigation based on 41 FIRs registered by the Tamil Nadu Vigilance Department under sections of the Prevention of Corruption Act, 1988 from 2014 onward, over allegations of corruption in TASMAC. These FIRs were registered against individuals on a range of allegations including overcharging at TASMAC shops, kickbacks being offered by distillers to TASMAC officials for supplying orders, and bribery involving senior TASMAC officials and retail outlets, and in the transfer and posting of staff, an ED source said. The searches in March, carried out under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA), 'led to the seizure of incriminating data related to transfers and postings, transport tender, bar licence tender, indent orders favouring a few distillery companies, excess charge of Rs 10 to Rs 30 per bottle by the TASMAC outlets involving the officials of TASMAC etc.,' the source said. The ED also claims to have identified the 'role of employees/ associates related to TASMAC, distillery and bottle-making companies along with other key associates in the illicit affairs related to TASMAC'. The ED claims to have found manipulation in TASMAC's transport tender allocations. 'There is a mismatch between the KYC details of the applicant and the Demand Draft (DD), suggesting that the final successful bidder did not even obtain the requisite DD before the application deadline,' another source said. The ED has alleged irregularities in the tender process, including the award of tenders with only a single applicant in the final bid. 'In the allocation of bar licence tenders by TASMAC, evidence relating to manipulation of tender conditions were found… Applicants without GST/ PAN numbers and proper KYC documentation were awarded tenders,' the source said. Sources said the ED's investigations have revealed evidence of large-scale financial fraud involving five distillery companies and three bottling entities, and a scheme for the generation of unaccounted cash and illicit payments. Investigators are learnt to have found that distilleries systematically inflated expenses and fabricated bogus purchases through bottle-making companies to siphon off more than Rs 1,000 crore in unaccounted cash. 'These funds were then used for kickbacks to secure increased supply orders from TASMAC. Bottling companies played a critical role in this fraudulent scheme by inflating sales figures, allowing distilleries to route excess payments, which were later withdrawn in cash and returned after deducting commissions. The collusion between distilleries and bottling companies was done through manipulation of financial records, concealed cash flows, and systematic evasion,' a source said. The ED's TASMAC investigation is heating up as Tamil Nadu goes to Assembly elections in less than a year, and the political battle between the BJP and DMK intensifies. Chief Minister M K Stalin has been attacking the BJP and the central government for allegedly seeking to impose Hindi on Tamil Nadu, and use the proposed delimitation of constituencies to reduce the importance of the state in national politics. The BJP, on the other hand, has been protesting alleged corruption in the state on the DMK's watch. Mahender Singh Manral is an Assistant Editor with the national bureau of The Indian Express. He is known for his impactful and breaking stories. He covers the Ministry of Home Affairs, Investigative Agencies, National Investigative Agency, Central Bureau of Investigation, Law Enforcement Agencies, Paramilitary Forces, and internal security. Prior to this, Manral had extensively reported on city-based crime stories along with that he also covered the anti-corruption branch of the Delhi government for a decade. He is known for his knack for News and a detailed understanding of stories. He also worked with Mail Today as a senior correspondent for eleven months. He has also worked with The Pioneer for two years where he was exclusively covering crime beat. During his initial days of the career he also worked with The Statesman newspaper in the national capital, where he was entrusted with beats like crime, education, and the Delhi Jal Board. A graduate in Mass Communication, Manral is always in search of stories that impact lives. ... Read More
Time of India
21-05-2025
- Automotive
- Time of India
Renault Group seeks CCI nod to buy out remaining 51% stake in Indian JV
HighlightsRenault Group has sought approval from the Competition Commission of India to acquire Nissan Motor Company's remaining 51 percent stake in their Indian manufacturing joint venture, Renault Nissan Automotive India Private Limited. The acquisition will allow Renault Group to own 100 percent of Renault Nissan Automotive India, which operates a production facility in Chennai for both Renault and Nissan models. Despite the acquisition, Nissan Motor Company will continue to utilize Renault Nissan Automotive India for sourcing vehicles for the Indian market and exports in the coming years. French auto major Renault group has sought approval from fair trade regulator CCI to buy out its Japanese partner Nissan's remaining 51 per cent stake in their Indian manufacturing joint venture -- Renault Nissan Automotive India Pvt Ltd. Renault Group B V and its nominee Renault SAS have proposed to acquire the entire shareholding of the Nissan entities in Renault Nissan Automotive India Pvt Ltd (RNAIPL). "The proposed combination relates to the acquisition of equity shares and fully paid-up zero-coupon non-convertible redeemable preference shares held by Nissan Motor Company Ltd Japan and Nissan Overseas Investments B V in the target (RNAIPL) by acquirer 1 (Renault Group B V) and its nominee, acquirer 2 (Renault SAS)," a notice filed with the Competition Commission of India (CCI) said on May 16. Renault Group B V is engaged in the designing and manufacturing of passenger cars and light commercial vehicles worldwide and Renault SAS is engaged in the construction, maintenance and manufacturing of parts and equipment. The proposed combination is an acquisition and is notified to the CCI under Section 5(a)(i)(A) of the Competition Act, 2002, it added. As per the parties, the relevant market definition may be left open as the proposed deal involves only a change in the corporate structure of the target, with no impact on the competitive dynamics in any relevant market in India. The combination does not raise competition concerns regardless of how the markets are defined, they said. In March this year, Renault Group said it will buy out Nissan's 51 per cent stake in their Indian joint venture RNAIPL for an undisclosed amount. The JV firm operates the alliance's Chennai-based production facility, which rolls out models for both Renault and Nissan brands. As part of a global framework agreement signed between Renault Group and Nissan, Renault Group would own 100 per cent of Renault Nissan Automotive India, by acquiring the 51 per cent shareholding currently held by Nissan. The company, however, did not disclose the financial details of the transaction. Nissan will continue to use RNAIPL for sourcing vehicles for India and for exports in the coming years, Renault Group said. Meanwhile, Renault Group and Nissan will continue to operate jointly, Renault Nissan Technology & Business Center India (RNTBCI) in which Nissan will retain its 49 per cent stake and Renault Group will hold its 51 per cent stake.
Hans India
21-05-2025
- Business
- Hans India
Former UCO Bank Chief Arrested By ED In ₹6,210 Crore Bank Fraud Case
The Enforcement Directorate's Kolkata division has taken into custody Subodh Kumar Goel, the former chairperson and managing director of UCO Bank, in connection with a massive financial fraud involving the misappropriation of bank funds exceeding ₹6,210 crores. The arrest stems from allegations related to fraudulent credit facilities extended to Concast Steel & Power Ltd (CSPL), where loan amounts were subsequently diverted and misused by the borrowing entity. The ED's action follows an investigation initiated based on a complaint filed by the Central Bureau of Investigation's Bank Securities and Frauds Branch. Mr. Goel was apprehended at his Delhi residence on May 16 and subsequently presented before a special court in Kolkata the following day. The court granted the ED custody of the accused until May 21 to facilitate further investigation. The ED's probe uncovered evidence suggesting that during Mr. Goel's leadership at UCO Bank, the institution approved substantial credit lines for CSPL. The investigation revealed a pattern of corrupt practices where Mr. Goel allegedly accepted various forms of illegal compensation from entities connected to CSPL. These illicit benefits reportedly included cash payments, real estate properties, luxury items, and expensive hotel accommodations. To conceal the corrupt transactions, the payments were allegedly channeled through a network of shell companies, intermediaries, and family connections, all designed to obscure the link to CSPL. This case is part of a broader ED investigation into CSPL and associated parties under the Prevention of Money Laundering Act, 2002. As part of the ongoing probe, the agency has already frozen immovable assets valued at approximately ₹510 crores belonging to Sanjay Surekha and CSPL. The ED conducted simultaneous searches across multiple locations nationwide on May 22, targeting residences of Mr. Goel and other individuals connected to the case. These operations yielded significant evidence, including documentation allegedly proving the various illegal payments received by the former bank executive. The case highlights the serious nature of banking fraud in India and the ongoing efforts by enforcement agencies to hold senior banking officials accountable for their role in facilitating such financial crimes.
