Govt rolls back LTCG taxes: Big relief for property owners
Aug 08, 2024, at 05:38 am
New Delhi: In a significant relief for property owners, the central government has proposed an amendment to the long-term capital gains (LTCG) taxes for properties purchased before July 23, 2024, media reports said.
DoT disconnects 73 lakh mobile connections bought using fake documents
Aug 08, 2024, at 04:35 am
New Delhi: Telecom operators have disconnected 73 lakh mobile connections obtained using fake proof of identity or address, the Department of Telecommunications (DoT) informed Parliament on Wednesday.
Petition filed with NCLT over WazirX $230 million crypto asset theft
Aug 08, 2024, at 03:16 am
Mumbai: WazirX, along with its infrastructure partner Liminal and other associated entities, is facing a petition with the National Company Law Tribunal (NCLT) due to a $230 million crypto asset theft.
Godrej Consumer Products Q1FY25 net profit soars 41% to Rs 450.69 cr
Aug 07, 2024, at 11:19 pm
Mumbai: Godrej Consumer Products Limited (GCPL) on Wednesday reported a consolidated net profit of Rs 450.69 crore for the fiscal first quarter, reflecting a 41 percent increase from Rs 319 crore in the same period last year.
Amid global economic downturn, Indian IPO market booms
Aug 07, 2024, at 11:15 pm
Mumbai: India's dynamic initial public offering (IPO) market is forging ahead with larger debuts, seemingly unaffected by this week's global equity downturn.
Adani Enterprises claims Gautam Adani was misquoted in media reports on succession plan
Aug 07, 2024, at 08:09 pm
Ahmedabad/IBNS: Adani Enterprises Ltd, the flagship entity of Adani Group, on Wednesday (Aug 6) issued a statement, addressing recent media reports concerning the Indian multinational conglomerate's Chairman Gautam Adani's succession plans.
Bata India's Q1FY25 profit rises 63% to Rs 174.36 cr
Aug 07, 2024, at 07:35 am
Shoemaker Bata India Ltd reported a 62.84 percent increase in its consolidated net profit, reaching Rs 174.36 crore in the first quarter ended June 2024, driven by margin expansion and gains from the sale of industrial land.
Bridgestone announces 25 billion yen investment at Japan’s Kitakyushu plant
Aug 07, 2024, at 07:01 am
Tokyo: Bridgestone Corporation today announced that it will invest ¥25 billion to upgrade equipment for certain facilities at the Kitakyushu Plant, which produces tires for mining and construction vehicles.
Govt to not go easy on Infosys over Rs 32,000 cr GST demand
Aug 07, 2024, at 06:15 am
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
Amazon India head Manish Tiwary resigns
Aug 07, 2024, at 05:35 am
New Delhi: Amazon.com India's country head Manish Tiwary has resigned after working with the e-commerce giant for eight years, the company said on Tuesday.
Ola Electric IPO subscribed over 4 times on last day
Aug 07, 2024, at 04:37 am
Mumbai: Ola Electric Mobility's Initial Public Offering (IPO), valued at Rs 6,145.56 crore, was subscribed 4.26 times on its final day, falling short of market expectations, media reports said.
WazirX files FIR in cyberattack incident that wiped out 45% of its crypto assets
Aug 07, 2024, at 02:54 am
Mumbai: Crypto exchange WazirX said Tuesday that following its previous police complaint regarding the $230-million cyberattack last month, a first information report (FIR) was filed at PS Special Cell, PS Lodhi Colony in New Delhi.
Political upheaval in Bangladesh raises concerns over Adani Power's transnational supply project
Aug 06, 2024, at 11:17 pm
New Delhi: The political upheaval in Bangladesh, which resulted in the ouster of Prime Minister Sheikh Hasina on August 5, may impact India's first transnational power supply project operated by billionaire Gautam Adani's Adani Power Ltd, according to media reports.
Vedanta Ltd Q1FY25: Consolidated net profit 36.5% to Rs 3,606 cr
Aug 06, 2024, at 11:04 pm
Mumbai: Billionaire Anil Agarwal's Vedanta Ltd announced on Tuesday that its consolidated net profit for the quarter ending June 30, 2024, surged by 36.5 percent to Rs 3,606 crore, compared to Rs 2,640 crore in the same period the previous year.
Indian space tech startup EtherealX raises $5M, will make fully reusable launch vehicles
Aug 06, 2024, at 08:45 pm
Bengaluru/IBNS: Indian space tech startup EtherealX, which is focussing on making reusable rockets, raised $5 million in a seed-funding round, which was led by 'Pre-Series A' fund YourNest Venture Capital and also saw participation from BIG Global investments JSC, BlueHill Capital and others.
Japanese stocks jumps 10% after Monday's record fall
Aug 06, 2024, at 07:12 pm
Tokyo/IBNS: The Japanese stocks surged more than 10 percent on Tuesday (Aug 6), bouncing back from a record selloff on Monday (Aug 5) on worries over the US economy and a stronger yen, reports said.
US stock market crash: Dow Jones drops over 1,000 points, S&P 500 sheds 3% in worst day since 2022
Aug 06, 2024, at 07:08 pm
New York/IBNS: The Wall Street on Monday (Aug 5) continued the sell-off in global equities owing to a multitude of factors.
Passenger vehicle sales rise 10% in July to 320,129 units on new launches, discounts: FADA
Aug 06, 2024, at 07:03 pm
New Delhi/IBNS: India's passenger vehicle sales recorded a 10 percent on-year surge in July driven by new model launches and enhanced discounts, according to Federation of Automobile Dealers Associations (FADA), the apex national body of Automobile Retail Industry in the country engaged in the sale, service and spares of two and three Wheelers, passenger cars, utility vehicles (UVs), commercial vehicles and tractors.
Indian rupee slips to all-time low on outflow worries
Aug 05, 2024, at 08:22 pm
Mumbai/IBNS: Indian rupee opened at a record low against the US dollar on Monday, on worries that the risk off prompted by US recession worries could lead to foreign outflows, reports said.
Aug 05, 2024, at 07:18 pm
Ahmedabad/IBNS: Gautam Adani, the chairman of Indian multinational conglomerate Adani Group, said he is planning to step down as the group's chairman at the age of 70.
Stock market crashes amid weak global cues: Here're some major factors that dampen sentiment
Aug 05, 2024, at 06:59 pm
Mumbai/IBNS: Indian stock markets crashed in early hours on Monday (Aug 5) as benchmark indices Sensex and Nifty were off to a weak start on the bourses, extending losses for a second session in a row after weak global cues, growing tensions between Iran and Israel in the Middle East, weak US jobs data, and recessionary fears dented sentiment across sectors.
Indian market tumbles, Sensex trading 1500 points below
Aug 05, 2024, at 03:27 pm
The Indian market witnessed one of the major crashes on Monday with Sensex and Nifty marking a significant drop during early trade.
National Handloom Development Corp holds expo at Delhi's Janpath to mark 10th National Handloom Day
Aug 05, 2024, at 01:27 am
New Delhi: A fortnight long exhibition dedicated to celebrating 10th National Handloom Day began at Handloom Haat in Janpath on Saturday.
Tata begins construction of India's first chip plant in Assam for Rs 27,000 cr
Aug 05, 2024, at 12:48 am
Guwahati: The construction of Tata’s semiconductor unit in Assam's Jagiroad started on Saturday as part of the government's attempt to create an end-to-end semiconductor manufacturing ecosystem in India, the Ministry of Information Technology said in a press release.
UPI transactions cross Rs 20 trillion for third straight month in July 2024
Aug 03, 2024, at 10:49 pm
New Delhi/IBNS: The Unified Payments Interface (UPI) transaction values surpassed Rs 20 trillion for the third successive month in July 2024, according to data released by the National Payments Corporation of India (NPCI) — a state-owned organization that operates retail payments and settlement systems in the country — on Thursday (Aug 1).
Ford to consider proposal for India re-entry as western markets face speed bumps: Report
Aug 03, 2024, at 10:29 pm
New Delhi/IBNS: American multinational automobile giant Ford, which exited India in 2021 over losses and poor sales, could re-enter the Indian market with a global team including CEO Jim Farley as it is set to consider a fresh proposal with a new strategy for the market, reports the Times of India (TOI).
PM Modi inaugurates 32nd International Conference of Agricultural Economists
Aug 03, 2024, at 06:26 pm
New Delhi/IBNS: Prime Minister Narendra Modi inaugurated the 32nd International Conference of Agricultural Economists (ICAE) at National Agricultural Science Centre (NASC) Complex in New Delhi on Saturday.
India’s seafood exports increase 31% to Rs 61043.68 cr
Aug 03, 2024, at 06:57 am
New Delhi: India’s seafood exports have increased from Rs 46,662.85 crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of 30.81%, Minister of State for Commerce and Industry Jitin Prasada informed Rajya Sabha on Friday.
Coal sector grows by 14.8% in June; highest in 8 core sectors
Aug 03, 2024, at 06:35 am
New Delhi: The coal sector showed the highest growth of 14.8% among the eight core industries in June 2024, according to the Index of Eight Core Industries (ICI) with a base year of 2011-12, released by the Ministry of Commerce & Industries.
UDAN round 5.3 reopens bidding for routes discontinued before 3-yr tenure
Aug 03, 2024, at 06:29 am
New Delhi: Air routes that were discontinued before the three-year tenure have been re-offered for bidding under UDAN Round 5.3, Minister of State for Civil Aviation Murlidhar Mohol informed Lok Sabha on Thursday.