He said that the government is more for a calibrated strategy rather than setting a big-bang target The disinvestment of IDBI Bank is gaining pace, says Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), and financial bids for the bank could be called before the end of this financial year. In a conversation with Harsh Kumar and Shrimi Choudhary, he says the government is more in favour of a calibrated str…
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said that the foray is a natural extension for the Group, which has been in the fashion retail and lifestyle industry for over 20 years. The Aditya Birla Group on July 26 ventured into the rapidly expanding Rs 6.7 lakh crore Indian jewellery market with the launch of its in-house brand Indriya. The brand aims to secure a position among India’s top three jewellery retailers over the next 5 …
Plans to expand businesses globally focusing on FMCG, hotels, and IT services for future growth Diversified conglomerate ITC plans an investment outlay of around ₹20,000 crore in the next five years, and a “large component” of that will be going into the non-Cigarette FMCG business.....
The redeveloped building will feature a 2,000-square-foot museum dedicated to legendary Bollywood actor Dilip Kumar, along with 4- and 5-BHK luxury apartments In one of the largest real estate deals in Mumbai’s Pali Hill neighbourhood, Bollywood actor Dilip Kumar’s sea-view triplex apartment has been sold for a staggering Rs 172 crore. The property fetched an impressive Rs 1.81 lakh per square foot. This development follows months af…
Adding fuel to the speculation, the image suggests a more aggressive, performance-oriented riding position. A year after showcasing futuristic electric motorcycle concepts, Ola Electric appears to be gearing up for a major reveal. Bhavish Aggarwal, CEO of Ola Electric, recently sent the internet buzzing by posting a cryptic image on social media that strongly hints at the company's first electric motorcycle.....
Invest India MD & CEO Nivruti Rai says along with investments, she is also working on enhancing trade and technology at the national investment promotion and facilitation agency Invest India acts as a point of reference for potential investors and facilitates investments for initiatives such as Make in India and Startup India. Set up in 2009 as a non-profit venture under the then Department of Industrial Policy and Promotion, it provides end-…
The company's consolidated order book grew 19% year-on-year in the June quarter, with the share of international orders at 38%. Larsen & Toubro Ltd., the country’s largest engineering and construction firm, on Wednesday projected its order-book size to swell to ₹9 trillion by the end of this fiscal from ₹4.9 trillion at the end of Q1on the back of a stronger-than-ever pipeline of large projects, in a reflection of the rising activi…
Almost all cases to see tax savings under proposed 12.5% rate regime without indexation benefit, say Finmin Finance Ministry asserted on Wednesday that the Budget 2024 proposal to eliminate the indexation benefit for property sales was not a “revenue-raising measure” and that the new capital gains tax regime will not lead to a higher tax burden on real estate transactions. On the contrary, the new regime will benefit taxpayers in &ldq…
The video entertainment economy is expected to post 8 per cent annual growth through 2028, fueled by premium on-demand streaming, it said India’s video market is expected to reach $13 billion in revenue by 2028, boosted by the streaming industry, which has continued to invest billions of dollars in content development every year, according to a new report....
India’s largest household goods maker reported a 2.6% increase in June quarter profit. Net profit for the three months ended 30 June was at ₹2,538 crore up from ₹2,472 crore a year earlier, the company said. Consumer goods maker Hindustan Unilever Ltd on Tuesday said signs of green shoots in rural markets have surfaced with the company’s low-priced packs seeing strong offtake and categories such as hair care and soaps doing well..…
Budget 2024 Key Highlights & Updates, Union Budget 2024 Outcomes, New Income Tax Slab Announcements: Finance Minister Nirmala Sitharaman on Tuesday proposed a reduction in the basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent. The government has increased the standard deduction limit to ₹75,000, enabling the salaried class to save up to ₹17,500 in taxes under the new regime....
The decision to assemble in India paid off even though it was focused on exports in the beginning. In FY19, only 10% of Apple's phones sold in India were assembled in India, a figure that has now grow There are seven mentions of Apple or apples in the Economic Survey presented in Parliament on Monday. Only two of those refer to the fruit. The other five are about the Cupertino, California-based technology giant, Apple Inc.
The development is in line with the required infrastructure push to the world's fastest growing aviation market. The Centre has begun planning for the next phase of airport development under public-private partnerships (PPPs), two officials aware of the development said. The development is in line with the required infrastructure push to the world's fastest growing aviation market....
The steel sector accounts for 12% of India’s greenhouse gas emissions, with an emission intensity of 2.5 tonnes of CO2 per tonne of crude steel, compared to the global average of 1.9 tonnes of CO2 per tonne of crude steel Green steel is poised to play a “pivotal role” in reshaping the future of the sector “as the world moves towards a low-carbon economy,” the Economic Survey 2023-24 has said.....
Indians need simple, easy-to-understand, and prominent warning labels, so that their better natures are given a chance to overtake their impulses By Mihir Sharma India is not the world’s healthiest country. Sadly, regulators seem determined to make the problem worse with each passing year. Urban Indians, especially wealthier ones, have a relatively sedentary lifestyle, and our diet is heavy in carbohydrates and fats.... M…
A new video by YouTuber Loveena Kamath unveils surprising earnings of food delivery agents in Bengaluru, often surpassing those of IT engineers. The investigation delves into the payment structure, work hours, and hidden costs faced by these agents. A recent video by YouTuber Loveena Kamath on her channel, Full Disclosure, has sparked conversations about the earnings of Zomato and Swiggy food delivery agents in India. Kamath's investigation revea…
Airbus has listed eight potential site locations for setting up its final assembly line for the H125 helicopters in India, inaugurations to be expected later this year in October or November, as per a PTI report.... More https://bit.ly/3Wvox3n Via livemint.com
From the top-10 group, the valuation of TCS zoomed Rs 42,639.16 crore to Rs 15,56,772.61 crore The combined market valuation of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest gainers.... More https://bit.ly/3LyNPYg Via business-standard.com
Under Section 87A of the Income-tax Act 1961, taxpayers with a total income up to Rs 5 lakh under the old tax regime or up to Rs 7 lakh under the new tax regime are eligible for a tax rebate that can reduce their net payable tax to nil. A recent update to the income tax filing utility has left many taxpayers in a bind, forcing them to forego a valid tax rebate of up to Rs 25,000 under the new tax regime.....
Flows through July 19 surpasses entire June net equity investments of ₹ 26,565 crore Ahead of Budget on July 23, Foreign Portfolio Investors (FPIs) continued to be on an equity buying binge this past week, pumping nearly ₹ 11,000 crore in just four trading sessions. Total FPI net investments this month through July 19 stood at ₹30,771 crore, depositories data showed.....
National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), emerged unscathed. Unlike their global counterparts, the BSE and NSE reported no operational disruptions. Traders and bankers from across the world found themselves in a bind after a botched update of a widely used cybersecurity program owned by CrowdStrike Holdings took down Microsoft systems. CrowdStrike Chief Executive Officer George Kurtz said the fault had been identified and &ld…
Starting Tuesday, companies will find it easier to file detailed disclosures on unclaimed dividends, deposits, and share application refunds under a simplified reporting regime. In a much-required revamp of corporate disclosures, the government has simplified the reporting process for companies on unclaimed dividends, deposits, and share application refunds—a move that will also further smoothen the claim process for investors
The claims emerged from a social media post by a woman who alleged that Dinesh Kumar Sarogi harassed her during a flight from Kolkata to Abu Dhabi The Naveen Jindal Group has initiated a probe against Dinesh Kumar Sarogi, the CEO of Vulcan Green Steel, a promoter -entity, following harassment allegations.
Capital gains tax rate change in the Budget 2024 on July 23 can trigger a bigger correction than seen post Lok Sabha election outcome, Wood said Despite the rally in equities over the last few years, India, according to Christopher Wood, global head of equity strategy at Jefferies, is still in early stages of an equity cult..... More https://bit.ly/4cO247o Via business-standard.com
Adani Group and Torrent Group in talks with CVC Capital Partners to acquire majority stake in IPL team Gujarat Titans. CVC may retain minority holding. CVC is may sell a majority stake in the IPL team and may retain a minority holding, according to a report by the Economic Times.... More https://bit.ly/4dadL87 Via livemint.com
This growth has propelled the share prices of AMC stocks like Nippon India AMC and HDFC AMC, which have risen significantly. The mutual fund (MF) industry in India has been on a remarkable ride, with the assets under management (AUM) growing more than six-fold increase over the past ten years from ₹9.75-lakh crore as of June 2014 to ₹61.16-lakh crore as of June 2024, according to AMFI....
Ashneer Grover said companies spend too long in hiring a person, and then they want to give the candidate enough time to prove themselves, which consumes a year's worth of time. Ashneer Grover, founder of BharatPe and Third Unicorn, said he does not believe in lengthy hiring processes and notice periods. He says that the rule should be to “hire fast, fire fast”.
Several listed entities, including telecom, EPC and power generation companies, are establishing their own data centres. Potential budget announcements may involve tax incentives, infrastructure development, renewable energy subsidies, streamlined policies, and investment in technology and skills. India's data centre market is poised for substantial growth in the coming years, led by the rapid digital transformation currently underway, adoption o…
Influential figures such as Kiran Mazumdar-Shaw and TV Mohandas Pai had voiced strong opposition to the draft bill, citing concerns about its potential impact on business activities and the overall investment climate The Siddaramiah-led Congress government in Karnataka late on Wednesday night suspended the introduction and implementation of a proposed jobs quote bill for locals in the private sector after backlash from the industry....
- Bangladesh government-owned PetroBangla has floated a tender inviting bids for the exploration of 24 offshore hydrocarbon blocks. - Along with Oil India, ONGC Videsh is already involved in the exploration of two blocks in Bangladesh. A consortium of state-run ONGC Videsh Ltd and Oil India Ltd is expected to bid for offshore hydrocarbon blocks in Bangladesh, amid India’s efforts to reduce its dependence on a few oil-exporting countries for…
This upward revision reflects stronger activity in Asia, particularly in China and India. Ahead of the presentation of full Union Budget for Fiscal Year 2024-25, India’s economic planners got good news from the International Monetary Fund (IMF) which revised the country’s growth forecast for current year by 20 bps to 7 per cent. This is higher than World Bank’s projection but lower than Reserve Bank of India’s estimate....
Tata Sons chairman N Chandrasekaran also said the steel company would continue to focus on transforming its international sites, with the second blast furnace in the UK likely to shut down by September over safety concerns. Tata Steel will continue to allocate around ₹10,000 crore a year for capital expenditure to expand its production capacity to 40 million tons per annum (mtpa) by 2030, N Chandrasekaran, chairman of Tata Sons Limited said at …
The heightened investment strategy aligns with Temasek’s sustained focus on pivotal sectors including financial services, healthcare, and technology consumer Having fulfilled its commitment to raise its yearly investment in India by 3x last year at a record $3 billion, Singapore investment firm Temasek is confident of investing a further $10 billion over the next three years at the current run rate....
Airline has noticed this issue over the past few weeks and plans technological solutions to provide more informative and precise responses. The usual scripted automated responses to queries and complaints on social media platforms can be frustrating and airlines are increasingly realizing that it impacts the customer experience and hurts brand value....
BSNL is gaining traction due to recent price hikes by Jio, Airtel, and Vodafone Idea. We compare the annual plans of BSNL, Jio, and Airtel to see which offers the best value. BSNL is witnessing a revival, at least that's what it seems like on social media. Many users have announced that they are moving to the state-owned company after the recent price hikes introduced by Reliance Jio, Bharti Airtel, and Vodafone Idea.....
The inflows into such funds as a percentage of the free float market capitalization is rising meteorically towards the June 2015 mark, when it had topped 2.5% India dedicated funds are seeing humongous amounts of money pouring in and last week saw record high flows of $1.25 billion, with the most flows coming into exchange traded funds at $848 million, data from EPFR and Elara Securities showed.
Adani's new mega port in southern India welcomed its first mother ship, signaling the company’s intent to aggressively expand and capture a larger slice of the international maritime trade, an arena currently dominated by China. Billionaire Gautam Adani is charting new waters, with plans to build a state-of-the-art port in Vietnam as part of his ambitious global expansion....
Corporate tax, personal I-T rise, but STT sizzles Building on the strong show seen in financial year 2023-24, Net Direct Taxes collections have surged 19.54 per cent to ₹ 5.74-lakh crore till July 11 this fiscal, official data released by CBDT showed....
Evidence of households switching to physical assets; FY26 average inflation seen at 4.1% It is conceivable that India can become the world’s second-largest economy by 2031 and the largest economy by 2060, given the country’s inherent strengths, said Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra.... More https://bit.ly/3Y0LDQP Via business-standard.com
The PM will lay the foundation stones of the Mumbai Metropolitan Region Development Authority’s (MMRDA) Thane-Borivali and the BMC’s Goregaon Mulund Link Road projects, both of which have twin tunnels Prime Minister Narendra Modi is set to visit Mumbai on July 13 to inaugurate infrastructure projects worth over Rs 29,000 crore, including new platforms at Lokmanya Tilak Terminus and Chhatrapati Shivaji Maharaj Terminus Station.....
With a total investment of ₹18,000 crore, including ₹8,867 crore for the first phase, Vizhinjam aims to handle 1 million TEUs initially, expanding to 3 million by 2028, and ultimately reaching a capacity of 5 million TEUs Vizhinjam International Seaport, being developed in public-private partnership by the Kerala government, central government and the Adani group, will ultimately be able to handle over 5 million TEUs and offer an altern…
Ipsita Dasgupta, Senior Vice President and Managing Director of HP India, talks about the India market, AI and more Ever since computing devices picked up in India, HP has been a part of that journey. Maintaining a strong market share amidst the declining PC market shipments in India for the past two years, HP has been the market leader in India’s PC market with 31.5% market share, in both commercial and consumer segments in 2023, according…
In FY24, Dabur rolled out many new products and variants. These launches marked Dabur’s entry into growing categories like mosquito repellent liquid vaporizers, cooling hair oils, gel toothpastes, value added tea, to name a few. New products accounted for 3.4% of its total sales during the year.... Via livemint.com More https://bit.ly/461OFpO
Revenue grows 5.2% to ₹62,613 crore Tata Consultancy Services kicked off the first quarter of FY25 with an 8.8 per cent year-on-year growth in profits to ₹12,105 crore. During the same time last year, the IT behemoth has reported a profit of ₹11,120 crore. On a sequential basis, profit fell by 3.1 per cent, as the firm reported a profit of ₹12,502 crore in the previous quarter.....
From tech companies to start-ups to universities, every segment of India wants a share of the Generative AI pie but data show that the country has a lot of catching up to do. India has filed only 1,350 patents around this buzzing technology from 2014 to 2023 ranking fifth after China (38,210), US (6,276), Republic of Korea (4,155), and Japan (3,409) ...
Prime Minister Modi will be in Moscow from July 8 to 9 at President Putin's invitation for the 22nd India-Russia Annual Summit. Russia is eagerly anticipating a "very important and full-fledged visit" from Prime Minister Narendra Modi for summit-level talks with President Vladimir Putin. The Kremlin noted that the West is watching the trip with "jealousy."...
Apoorva Ranjan Sharma, who has co-founded VC funds such as Venture Catalysts and 100Unicorns, believes that many startups from the smaller towns like Ambala and Silvassa often go unnoticed due to lack of awareness and resources to scale up India, home to the third-largest startups ecosystem in the world, will see the next set of companies bound for initial public offerings (IPOs) come from tier-II markets and beyond in niche sub-sectors, Apoorva…
New Delhi will focus on ways to increase exports to reduce trade gap, say officials India and Qatar are set to hold their first joint working group (JWG) meeting on trade issues this week to further push bilateral trade by identifying and removing tariff and non-tariff barriers, including regulatory hurdles, sources have said.....
