Diversified conglomerate Shapoorji Pallonji Group-backed construction and engineering player Afcons Infrastructure Ltd has filed draft red herring prospectus (DRHP) with Securities Exchange Board of India (Sebi) to raise Rs 7,000 crore through an initial public offer (IPO). The firm will raise Rs 1,250 crore through a fresh issue and Rs 5,750 crore through offer for sale.
Open FlipJapan's Nikkei share average logged the biggest rise ever on an absolute basis for the fiscal year ended on Friday, rallying 12,328 points. The index hit successive record highs this quarter, after breaking levels on Feb. 22 that were last seen in 1989 during the nation's bubble economy. The rally was supported by better corporate governance, foreign buying on a weaker yen.
Open FlipAs the tax-saving season nears its end, many taxpayers turn to tax-harvesting strategies to reduce their tax burden. For those unfamiliar, this approach involves selling investments that are currently at a loss (purchased at a higher price than their current value) to offset the capital gains taxes owed on profitable investments.
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