Business

Share Market Live: Nine of 15 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty PSU Bank and Auto indexes' 0.5 per cent decline....
Details
Category: Business

Write comment (99 Comments)


The New Delhi-based business's IPO will, however, consist entirely of a sell, enabling early financiers an exit ... MapmyIndia, which powers Apple maps in India, will submit draft papers for an initial public offering worth Rs 1,000-1,200 crore today, a source with direct knowledge of the matter said.The digital map maker, which likewise powers the navigation system in MG Motor and BMW automobiles, is seeking a valuation of Rs 5,000-6,000 crore, according to the source, who did not wish to be called as the IPO information were private.MapmyIndia declined to comment.The New Delhi-based business's IPO will, however, consist solely of a market, permitting early investors an exit, the source said. MapmyIndia's early investors consist of Qualcomm Inc, Walmart Inc-backed PhonePe and Japanese mapmaker Zenrin Co Ltd.Earlier this year, federal government unwinded restrictions on mapping by allowing regional firms to gather, generate, shop and produce geo-spatial data consisting of maps. The federal government expects the geo-spatial products and solutions market to be worth $13.6 billion by 2030. The offering comes at a time Indian companies are rushing into capital markets, with equities at record highs as the economy recuperates from the pandemic. Food-delivery company Zomato Ltd saw strong gains in its market debut last month.MapmyIndia, likewise referred to as CE Info Systems, will not get any new proceeds from the offering and retail financiers will get 35 per cent of the IPO size, the source said.Bloomberg News initially reported of the company's IPO prepares over the weekend.
Details
Category: Business

Write comment (92 Comments)


Shares of the country's biggest energy automobile maker, Mahindra - & Mahindra, increased as much as 2.24 percent to strike an intraday high of Rs 792.50 ... Mahindra - & Mahindra shares have up until now this year jumped as much as 32 per cent.Shares of the nation's largest energy car maker, Mahindra - & Mahindra, rose as much as 2.24 percent to hit an intraday high of Rs 792.50 after the company notified exchanges that its defence arm, Mahindra Defence Systems, was awarded an agreement by the Ministry of Defence for producing Integrated Anti-Submarine Warfare Defence Suite (IADS). The Ministry of Defence (MoD) has actually granted a major agreement to Mahindra Defence Systems Limited (MDS) worth Rs 1349.95 crore for the production of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern-day warships of Indian Navy, Mahindra - & Mahindra said in a press release.Integrated Anti-Submarine Warfare Defence Suite is designed to identify and safeguard warships from undersea hazards. It is a flexible system efficient in operations from all sizes of warships - little, medium and big, Mahindra - & Mahindra added. It is the first significant contract with the economic sector indicated for undersea detection and security from dangers. This agreement as soon as again exemplifies the success of the Atmanirbhar Bharat initiative, said S P Shukla, Chairman, Mahindra Defence Systems.Mahindra Defence Limited is taken part in dealing with needs of all 3 wings of the defence forces Army, Navy and Air Force. Their item variety includes armoured automobiles, undersea warfare equipment, radars and monitoring equipment.Mahindra - & Mahindra shares have up until now this year jumped as much as 32 per cent to strike 52-week high of Rs 952.15. Since 12:27 pm, Mahindra - & Mahindra shares traded nearly 2 percent greater at Rs 789.65, outperforming the Sensex which was up 0.92 percent.
Details
Category: Business

Write comment (92 Comments)


Information due later on Tuesday will likely show gross domestic product grew 21% in the 3 months through June from a year ago ... The milder hit to the economy coincides with India's vaccination rate picking up pace.The economic toll from a deadly second wave of Covid-19 that swept through India last quarter does not seem as bad as feared, with analysts still seeing the nation pulling off the world's fastest growth this year.A better-than-expected manufacturing performance and a milder hit to services, combined with a robust pace of vaccinations, have assisted keep the annual growth outlook for the economy consistent at 9.2%, according to a Bloomberg study. That rate is the very same seen in a survey last month and the quickest amongst major economies. The economic damage seems less than previously anticipated, said Rahul Bajoria, chief India economist at Barclays Bank Plc. With the second break out brought under control, a quick healing appears underway, he said.Data due later on Tuesday will likely show gross domestic product grew 21% in the 3 months through June from a year back, according to the average of 45 quotes compiled by Bloomberg, generally as a recuperate from in 2015's crash.The big pop, nevertheless, will likely obscure a slowing from the previous quarter, brought on by activity curbs to stem the 2nd wave of the virus. While the government doesn't report an official quarter-on-quarter figure, Bloomberg Economics approximates the economy plunged sequentially, contracting 12% from the January-March period.In recent months, India's yearly growth projection has actually gone from being upgraded to double digits to slashed by the steepest rate amidst uncertainty about Covid's destruction on the economy. Current data from high-frequency signs have actually shown the effect of pandemic limitations were less severe than last year, with demand staying resilient.Factory supervisors in India saw a surge in activity in July, reflecting a pick up in new orders, while a similar study of services' acquiring managers showed the sector was inching back toward growth. Exports, which account for nearly a fifth of the economy, have actually been growing for the previous 8 months signaling strong worldwide demand. The healing from the second wave has actually been much faster with activity indicators recovering lost ground in less than 3 months compared to 10 months in the very first wave, stated Gaura Sen Gupta, a financial expert with IDFC First Bank. High frequency development signs show that the financial expense of the lockdowns was lower. The milder hit to the economy coincides with India's vaccination rate picking up rate over the last few weeks. And there's space for further improvement, considered that the nation has actually managed to inoculate only simply over 10% of its population-- an essential vulnerability provided risks from a possible third wave of infections.The risks from the pandemic has actually likewise kept the country's reserve bank from unwinding its ultra-easy financial policy, with Governor Shaktikanta Das recently repeating that policy makers would not reverse course suddenly regardless of mounting inflationary pressures.Prime Minister Narendra Modi plans to complement the financial stimulus with financial procedures. His federal government aims to raise 6 trillion rupees ($81.9 billion) by renting out state-owned facilities assets over the next 4 years to money brand-new capital expenditure without additional broadening the budget deficit.(Other than for the heading, this story has not been modified by TheIndianSubcontinent personnel and is released from a syndicated feed.)
Details
Category: Business

Write comment (92 Comments)


The Sensex soared as much as 834 points to strike an all-time high of 56,958.27 and Nifty 50 index exceeded above its essential psychological level of 17,900 for the first time ... The domestic markets surged to tape-record highs on Monday, in line with international bourses, after the United States Federal Reserve Chair Jerome Powell showed the United States central bank could begin downsizing its bond buying program by year-end but did not give a company timeline. Remarks by Jerome Powell stimulated buying interest in equities across the world as concerns over tight liquidity conditions eased, analysts stated. The Sensex skyrocketed as much as 834 indicate strike an all-time high of 56,958.27 and Nifty 50 index surpassed its crucial mental level of 17,900 for the first time.The BSE Sensex advanced 765 points to close at record high of 56,889.76 and Nifty 50 index jumped 226 points to settle at 16,931. At the Fed's annual Jackson Hole conference, Jerome Powell expressed care about raising rate of interest as the Fed tries to nurse the economy to complete employment and would prevent going after transitory inflation.Following Mr Powell's speech, the S&P 500 and the Nasdaq closed at record highs for the 4th time recently driven by stocks in technology, communications, customer discretionary and financials. The texture of a breakout continuation development recommends an uptrend wave is most likely to continue in the future. For the day traders, the support has moved from 16,700 to 16,800- 16,850 levels. On the flipside, markets may take a short-term time out near 17,000-17,050 due to a prolonged rally while intraday charts suggest the marketplace remains in an overbought situation. As long as the index holds the 16,800 level, the uptrend development might continue up to 17,000-17,050 levels, whereas on the drawback, below the 16,800 level uptrend would be susceptible, Shrikant Chouhan, executive vice president, equity technical research at Kotak Securities.Back home, purchasing was visible throughout sectors as all the 19 sector assesses, disallowing the measure of information technology shares, ended higher, led by the S&P BSE Telecom index's over 3.5 percent gain.Banking, Financial Providers, Energy, Healthcare, Utilities, Auto, Capital Product, Customer Durables, Metal, Oil - & Gas and Power indices also advanced 1.5-2.5 per cent each.Mid- and small-cap shares likewise witnessed purchasing interest as the Nifty Midcap 100 index jumped almost 2 per cent and Nifty Smallcap 100 index advanced 1.5 per cent.In the Nifty 50 index, 43 shares ended higher.Bharti Airtel was top Awesome gainer; the stock rose 5 per cent to close at record high of Rs 625 after its board approved fund raising strategy of as much as Rs 21,000 crore by means of rights problem to existing shareholders. Bharti Airtel has priced rights problem at Rs 535 a share, a discount rate of around 10 per cent to Friday's close of Rs 595.15. Divi's Labs, Axis Bank, Tata Steel, Coal India, Titan, ONGC, Maruti Suzuki, Bajaj Finance, State Bank of India, Hindalco, Asian Paints, Mahindra - & Mahindra, Tata Motors and Reliance Industries also rose 2-4 per cent.On the flipside, Tech Mahindra, Nestle India, Eicher Motors, Infosys, Wipro, SBI Life and TCS were amongst the noteworthy lowers.The general market breadth was very positive as 2,223 shares ended greater while 1,094 closed lower on the BSE.
Details
Category: Business

Write comment (92 Comments)


Gold, Silver Rate Today, August 30, 2021: Yellow metal costs showed minimal rise as on the MCX, gold October futures increased. Silver also increased ... Gold Price Today: Yellow metal costs increased slightly on August 30, 2021Gold costs showed limited rise as on the MCX, yellow metal October futures increased by 0.8 percent to trade at Rs 47,538 per 10 grams, while silver September futures showed decent growth and rose by 3 per cent to reach Rs 63,585 per kg.Silver rates carried out better than gold costs primarily due to easing of pandemic worries in China.At the global market, yellow metal rates were trading high as area costs at COMEX rose by 2 per cent to trade at $1,817 per ounce. Silver costs nevertheless traded low as spot silver rates at COMEX stood at $24 per ounce.Gold ETF holdings continued outflows as holdings at SPDR gold shares fell near their lowest because April in 2015 to 1,002 tonnes from the previous week's 1,012 tonnes for the week.On Friday, rare-earth element prices had actually rallied after the remarks originating from the American Jackson Hole Symposium. At the very same time, bullion rates were supported by weaker dollar and drop in American treasury yields in the middle of a careful method sounded off by United States Federal Reserve chairman Jerome Powell, who said that though the American economy was on a strong footing, it was still not completely insulated from the impact of the Coronavirus pandemic.Commenting on gold rates trends, Head of Commodity Research Study at Kotak Securities Ravindra Rao stated, COMEX gold trades little bit altered near $1,818 per ounce after a 1.4 per cent gain on Friday. Gold trades near three-week high supported by weakness in United States dollar as market players soft-pedaled Fed's financial tightening issues post comments from Fed Chairman. Supporting rate is increased geopolitical stress relating to Afghanistan and blended financial information from significant economies and increasing infection threats. Nevertheless, weighing on cost is weaker investor interest as is evident from ETF outflows. Gold has actually rescaled $1,800 per ounce and the momentum has turned favorable however mixed factors might keep costs volatile.
Details
Category: Business

Write comment (90 Comments)


Ramkrishna Forgings has actually bagged LoI for its creating business worth Rs 120 million per year from a major worldwide axle manufacturer located in India...L-T has finished the sale of its entire stake in L-T Uttaranchal Hydropower to Restore Power Services.The domestic stock exchange are likely to open marginally at a loss, post the rally on Monday, due to blended global cues. The S-P 500 and Nasdaq struck record highs on Monday as innovation stocks leapt after the Federal Reserve's dovish comments relieved worries of a sudden tapering in monetary stimulus and increased optimism around a financial healing. On the other hand, Asia-Pacific shares mostly insinuated Tuesday morning trading as data showed slowing Chinese factory activity development in August.Trends on SGX Nifty show an unfavorable opening for the Nifty, with a 35-point loss. At 7:30 am, the Nifty futures were trading at 16,929, lower by 35 points or 0.27 per cent, on the Singapore Stock Exchange.On Monday, the BSE Sensex had risen 1.36 percent and Nifty had actually jumped 1.35 per cent on Monday to end at all-time highs.Stocks to see in trade in today's sessionL-TL-T has finished the sale of its entire stake in L-T Uttaranchal Hydropower to ReNew Power Services.Axis BankMoody's has appointed B1 (hyb)rating to Axis Bank, GIFT City Branch's proposed USD-denominated, undated, non-cumulative and subordinated Additional Tier 1(AT1 )capital securities being issued out of its Global Medium Term Note(GMTN)programme.Ramkrishna ForgingsRamkrishna Forgings has bagged LoI for its creating business worth Rs 120 million per year from a major global axle maker located in India.AcrysilAcrysil has actually revealed more expansion of production capacity by an additional 1,60,000 Quartz Sinks per annum through a greenfield job at Bhavnagar in Gujarat.
Details
Category: Business

Write comment (92 Comments)


Power Ministry has stated that regulating coal supply to power plants having more than 15 days of coal, will free around 1.77 lakh tonnes of dry fuel ... A review meeting was kept in Power Ministry to keep track of coal stocks in thermal plantsThe Power Ministry has said that controling coal supply to power plants which have more than 15 days of fuel, will free around 1.77 lakh tonnes of dry fuel from 26 stations.According to a statement provided by the ministry, Power Secretary Alok Kumar, who held a review meeting of the core tracking group to seek an update on the stock of coal at thermal power plants, was notified about this fact.The core monitoring team has representatives from the power ministry, Central Electrical power Authority (CEA), Coal India Ltd (CIL) and Indian Railways.During the meeting, it came to light that the policy of coal to power plants having more than 15 days' stock would free up around 1.77 lakh tone of coal from 26 stations.This particular consignment of coal has actually been rearranged to plants having supercritical and important coal stocks at power plants.The 2nd unit of NTPC Daralipali will attain commercial operation from September 1 onwards and thus an additional 800 mega watt of electricity generation would be included the overall fleet.Also Damodar Valley Corporation (DVC) is anticipated to clear dues of around Rs 1,200 crore to the various CIL subsidiaries within a week, which will augment the coal supply to various plants of DVC, the statement said.This will assist in ramping up power generation from DVC plants from the present level of 61 percent to a PLF (plant load aspect) of 90 per cent.The 1,000 mega watt Kudankulam nuclear power plant would be back on bar before September 2 and replace some part of coal generation, thus reducing pressure on coal requirements, it even more said.
Details
Category: Business

Write comment (95 Comments)


Nazara Technologies increased as much as 5.51% after the company stated that it has acquired 100 per cent stake in Hyderabad based skill gaming business OpenPlay ...
Details
Category: Business

Write comment (99 Comments)


Foreign institutional investors purchased shares worth Rs 1,202 crore while domestic institutional investors purchased shares worth Rs 689 crore ... The Indian equity criteria are set to open marginally lower as shown by the Nifty futures on Singapore Exchange in the middle of weak hints from other Asian markets. The Awesome futures on Singapore Exchange also referred to as the SGX Nifty futures fell 0.2 percent to 16,930. Asian markets were trading lower despite new highs on Wall Street as issues about China's slowing economic development weighed on financier sentiment. Japan's Nikkei fell 0.2 percent, Hong Kong's Hang Seng index dropped 1.4 percent, Taiwan Weighted decreased 0.94 per cent and South Korea's KOSPI fell 0.13 per cent.China's factory activity broadened at a slower pace in August as coronavirus-related limitations and high basic material rates pressure makers in the world's second largest economy, while services activity contracted sharply, nationwide information revealed Tuesday.US and worldwide equity standards struck all-time highs on Monday, as the Federal Reserve appeared in no rush to step away from its enormous stimulus, and United States oil prices ended up higher.The S&P 500 got 0.43 per cent, to 4,528.76 and was on track to end up the month up more than 3 per cent, and the Nasdaq Composite included 0.9 percent to 15,265.72 as investors jumped into technology stocks.Back house, foreign institutional investors purchased shares worth Rs 1,202 crore while domestic institutional financiers bought shares worth Rs 689 crore.Larsen - & Toubro will remain in focus after it sold its 100 percent stake in L&T Uttaranchal Hydropower to ReNew Power Services.
Details
Category: Business

Write comment (98 Comments)


The Asian markets are in the green across the board and the European markets have actually also opened higher after US Federal Reserve Chairman Jerome Powell struck a more dovish tone on Friday, surpassing... The BSE metal index was the leading sectoral gainer on the BSE, surging more than 2 per cent.The benchmark indices continued to trade at record highs on Monday afternoon on the back of positive international cues. The Asian markets remain in the green throughout the board and the European markets have also opened higher after United States Federal Reserve Chairman Jerome Powell struck a more dovish tone on Friday, going beyond financiers' expectations.As of 1:45 pm, the BSE Sensex was trading at 56,700, higher by 578 points or 1 percent and NSE Nifty had actually advanced 177 points or 1 percent to 16,882. All the sectoral indices were selling the green, with the exception of the IT index.The BSE metal index was the leading sectoral gainer on the BSE, surging more than 2 per cent.In the currency market, the rupee rose to its greatest in two-and-a-half months on Monday, after the U.S. Federal Reserve chairman's remarks triggered bets of a slower decrease in financial stimulus. The rupee was trading at 73.48/ 49 per dollar after touching 73.39 earlier in the day, its strongest level because June 16. The domestic currency had closed at 73.68 on Friday.On the stock-specific front, Tata Steel has risen 4.2 percent to Rs 1,443 to top the gainer's list on the BSE. Bajaj Financing, Axis Bank and Maruti Suzuki are the other significant gainers on the BSE.On the other hand, details tech stocks are trading weak, with Tech Mahindra, Infosys and TCS losing around a per cent each on the BSE.Among stocks in the news, Maruti Suzuki shares were trading higher by 2.3 per cent at Rs 6,758.90 on the BSE after the vehicle major revealed plans to hike the costs throughout designs in September 2021. Larsen - & Toubro surged 2.87 per cent to strike an intraday high of Rs 1,637.65 as its building and construction arm won 'substantial' orders from its various businesses. 'Significant' orders in L&T's order book describe orders in the series of Rs 1,000 crore to Rs 2,500 crore.Vedanta skyrocketed more than 2 percent to Rs 299 on the news that its board will fulfill next week to think about and approve the very first interim dividend for 2021-22.
Details
Category: Business

Write comment (98 Comments)


Reliance Industries, HDFC, Infosys, ICICI Bank, HDFC Bank, Larsen - & Toubro and Tata Steel were among the top movers in the Sensex ... The Indian equity benchmarks scaled fresh record highs on Monday in which the National Stock market benchmark Nifty 50 index advanced as much as 167 indicate hit record high of 16,872 and the Sensex jumped as much as 578 points to strike an all-time high of 56,701. The international equity markets leapt after US Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors anticipated in long-awaited speech on Friday.As of 10:36 am, the Sensex was up 566 points at 56,690 and Nifty 50 index advanced 163 points to 16,868. Japan's Nikkei rose 0.9 per cent not long after the bell, and MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.32 per cent in early trading before Chinese markets had opened.Investors had been waiting to see whether Powell, who was speaking at a seminar in Jackson Hole, Wyoming, would offer a clear indication of his views on timing of the central bank's tapering of possession purchases or hiking rates of interest to begin getting rid of monetary stimulus.However, in his prepared remarks, he used no indication on cutting possession purchases beyond stating it could be this year , triggering the S&P 500 and the Nasdaq to close last week at new record highs.Back home, Reliance Industries, HDFC, Infosys, ICICI Bank, HDFC Bank, Larsen - & Toubro and Tata Steel were among the top movers in the Sensex.All the 19 sector gauges assembled by the BSE were trading greater led by the S&P BSE Metal index's 1.75 per cent gain. Power, Real Estate, Consumer Durables, Capital Product, Car, Utilities, Industrials, Energy and Customer Durables indices likewise increased over 1 percent each.Mid- and small-cap shares were also seeing purchasing interest as S&P BSE MidCap index increased 0.94 points and S&P BSE SmallCap index advanced 0.85 per cent.Hindalco was top Clever gainer, the stock increased nearly 3 per cent to Rs 451. Tata Motors, Titan, Tata Steel, Bajaj Finance, Coal India, Mahindra - & Mahindra, Larsen & Toubro, Bajaj Finserv, Maruti Suzuki and Reliance Industries also rose between 1.3-2.4 per cent.On the flipside, Tech Mahindra and HCL Technologies were among the 2 losers in the Nifty 50 basket of shares.The general market breadth was incredibly favorable as 1,984 shares were advancing while 600 were decreasing on the BSE.
Details
Category: Business

Write comment (100 Comments)


In the nationwide capital, petrol prices were steady at Rs 101.49 per litre and diesel was at Rs 89.92 per litre, according to Indian Oil Corporation ...
Details
Category: Business

Write comment (97 Comments)


The price increase has actually been prepared throughout designs in September 2021, Maruti Suzuki said in a regulatory filing to stock exchanges, without specifying the quantum of price hike ...
Details
Category: Business

Write comment (92 Comments)

Cardano has doubled this month, becoming the third-largest digital asset, Binance Coin is also up and a token named Avalanche has tripled in August...
Details
Category: Business

Write comment (96 Comments)


NTPC has stated it is totally prepared to satisfy the blossoming power need in the country and recorded generation development of 23 per cent over in 2015 ... National Thermal Power Corporation has stated it is fully geared to satisfy growing demandNational Thermal Power Corporation (NTPC) has actually said that it is totally prepared to satisfy the blossoming power need in the nation and has registered generation growth of 23 percent over the previous year.The state-owned entity's declaration has come at a time when there has actually been a high increase in power demand.To address the demand, NTPC has actually stated that generation capacity from its group stations has taped a 23 per cent development. Under its flexible utilisation of its coal policy, the company is arranging coal supply for those stations where the stocks have actually reached important levels.It is routinely coordinating with Coal India and Indian Railways for augmenting coal supply at critical stations and diverting rakes anywhere required.Also NTPC is increasing coal production from all of its captive mines and is also asking for the states to schedule offtake from the gas stations. In order to prepare for making plan for gas for generator business, states have actually been advised to schedule power a minimum of for a week.
Details
Category: Business

Write comment (95 Comments)


Larsen - & Toubro's power transmission and circulation organization bagged an order for the turnkey construction of a sub-station in Saudi Arabia ... Larsen - & Toubro surged as much as 2.87% to strike an intraday high of Rs 1,637.65. Shares of the nation's largest facilities designer, Larsen - & Toubro, surged as much as 2.87 percent to strike an intraday high of Rs 1,637.65 after the business notified exchanges that its building and construction arm won 'considerable' orders from its numerous organizations. 'Considerable' orders in regards to Larsen - & Toubro's order book means that the company has actually bagged orders in the series of Rs 1,000 crore to Rs 2,500 crore.Larsen - & Toubro's buildings and factories organization protected an order to build multi-level parking and supporter chamber for the Allahabad High Court. The task includes 2,294 advocate chambers, 2,323 cars and truck parking areas in a multilevel cars and truck parking and 1,552 two-wheeler parking spaces, L&T said.Larsen - & Toubro's power transmission and distribution organization bagged an order for the turnkey construction of a sub-station in Saudi Arabia.Its wise world and communication's service bagged another Smart City project. The job has actually was granted by the Moradabad Smart City Limited to create, establish, implement and manage the operations and upkeep of a command-and-control centre (CCC), CCTV surveillance, clever traffic solutions, and to integrate various ICT elements with an Integrated Command and Control Center Platform (ICCC) for Moradabad, Uttar Pradesh, the business stated in a stock exchange filing.As of 1:15 pm, Larsen - & Toubro shares traded 1.81 per cent greater at Rs 1,667, outperforming the Sensex which was up 1 percent.
Details
Category: Business

Write comment (92 Comments)


Remembering the problems being dealt with by taxpayers in filing numerous taxes, CBDT has extended dates for digitally filing of these taxes ... Government has extended the dates of e-filing of various taxesKeeping in mind the problems being faced by taxpayers in filing different taxes due to Coronavirus pandemic, the Central Board of Direct Taxes (CBDT) has actually extended the dates for digitally filing of these tax forms.According to a notice issued by the CBDT, the application for registration or intimation or approval under Area 10(23C), 12A, 35( 1) (ii), (iia), (iii) or 80G of the Income Tax Act in Kind 10A, which is needed to be filed on or before June 30, 2021, and which was previously encompassed August 31, 2021, can now be filed on or before March 31, 2022. The application for registration or approval under Section 10(23C), 12A or 80G of the Income Tax Act in Type 10AB, for which the earlier deadline was February 28, 2022, might now be submitted on or prior to March 31, 2022. Also the Equalization Levy Statement in Form 1 for 2020-21, for which the due date was reached August 31, 2021, can now be filed by December 31, 2021. The uploading of statements received from recipients in Kind 15G and 15H throughout the quarter ending June 30, 2021, which was earlier required to be published on or before July 15, 2021, and subsequently by August 31, 2021, can now be done on or before November 30, 2021. The uploading of statements gotten from receivers throughout the quarter ending September 30, 2021, which was earlier required to be done by October 15, 2021, can now be uploaded on or prior to December 31, 2021.
Details
Category: Business

Write comment (94 Comments)


Ride-sharing giant Ola prepares to raise up to $1 billion through an initial public offering and is settling banks to advise on the fund-raise ...
Details
Category: Business

Write comment (90 Comments)


The rupee rose to its greatest in two-and-a-half months, after the United States Federal Reserve chairman's comments sparked bets of reduction in stimulus ... Rupee increased to a 2 months high riding generally on a mindful technique by United States Federal ReserveThe rupee increased to its strongest in two-and-a-half months on Monday, after the United States Federal Reserve chairman's comments stimulated bets of a slower decrease in monetary stimulus.The partly convertible rupee was trading at 73.48/ 49 per dollar at 0612 GMT after touching 73.39 earlier, its greatest considering that June 16. The currency had closed at 73.68 on Friday.The dollar loitered around multi-week lows in the wake of Fed Chair Jerome Powell setting out a slower-than-expected path to rate hikes, as traders' focus moved to U.S. jobs figures due on Friday for hints on a tapering timeline. Powell re-emphasised that the rate of the possession purchase program might slow by the end of the year. He refrained from offering a specific timeline. A turn in the interest rate cycle remains far, HDFC Bank economic experts stated in a note. We anticipate additional near-term disadvantage in the dollar, though a positive job report could cap losses, they included predicting a variety of 73.40 to 74 for the dollar/rupee for the week.Most emerging market currencies were firm tracking weakness in the dollar. The benchmark 10-year bond yield relieved slightly to 6.24 percent compared to its close of 6.25 per cent.On Friday the government raised a higher-than-planned Rs 34,000 crore at a financial obligation auction with the reserve bank setting lower-than-expected cut-off yields.On the domestic front, traders will now concentrate on the June quarter GDP information that is due to be launched on Tuesday for clues on the financial revival and to determine a possible timeline on the RBI's policy normalisation.However, Governor Shaktikanta Das told a local news channel last week that the central bank will not amaze the market with any unexpected steps which all steps will be cautious and well calibrated.
Details
Category: Business

Write comment (98 Comments)


Bharti Airtel prepares to raise as much as Rs 21,000 crorevia a sale of shares to existing investors ... Bharti Airtel plans to raise funds through sale of sharesTelecom major Bharti Airtel said on Sunday it prepares to raise up to Rs 21,000 crore by means of a sale of shares to existing shareholders as it builds a war chest to prepare for the launch of 5G services.Bharti stated the shares would be priced at Rs 535 each, which is around a 10 per cent discount rate to Friday's close of Rs 595.15. Bharti founder-chairman Sunil Mittal and others in the creator group will likewise take part in the share purchase, the company stated in a statement.The company stated that shareholders would be eligible to buy one share for every 14 share they keep in the telecom firm.India, one of the world's most significant telecom markets, has been upended by billionaire magnate Mukesh Ambani-controlled Jio Infocomm, which released with complimentary voice and cut-price information in late 2016. With more than 352 million subscribers, Airtel is India's second greatest provider by users after Jio.Mr Ambani has forced a number of competitors out of the marketplace while others such as the local unit of Britain's Vodafone and India's Idea combined to withstand Jio's onslaught.Mr Ambani has actually likewise won the backing of Facebook in addition to Qualcomm and Intel for his Jio Platforms digital unit, the moms and dad of his telecom venture.Jio has established its own 5G service and Mr Ambani has said the carrier will be the first to introduce 5G services in India.
Details
Category: Business

Write comment (94 Comments)


Sunil Mittal has said that Bharti Airtel wished to improve its access to development capital and decrease its debt take advantage of ...
Details
Category: Business

Write comment (95 Comments)


Federal government has extended the last date for availing the GST amnesty scheme till November 30 ... Federal government has extended the due date for GST amnesty scheme till November 30, 2021The Finance Ministry has extended the last date for availing the Item and Provider Tax (GST) amnesty plan where taxpayers pay a minimized fee for late filing of month-to-month returns, till November 30, 2021. Earlier the last date for submitting GST returns with decreased late charges was August 31, 2021. The Federal government had actually supplied relief to the taxpayers by decreasing or waiving late fee for non-furnishing Kind GSTR-3B for the tax periods from July 2017 to April 2021, if the returns for these tax durations are provided in between June 1, 2021 to August 31, 2021, a Finance Ministry notification said. The Finance Ministry said that the extension was offered on the basis of a number of representations received from facilities, who requested for more time to do the needful.The due date of submitting the application for revocation of cancellation of registration, has been extended till September 30, 2021. The real date for it was August 31, 2021. The extension however would apply just in those cases where registrations have actually been cancelled under clause (b) or clause (c) of sub-section (2) of section 29 of the CGST Act.
Details
Category: Business

Write comment (96 Comments)


The scheme attends to settlement of disputed tax, contested interests, contested penalty or disputed charges ... Government has actually extended due date of tax payment under Vivad Se Vishwas schemeThe government on Sunday extended the due date of payment of income tax without any additional quantity under its Vivad Se Vishwas plan till September 30, 2021, bearing in mind the difficulties being faced by taxpayers in getting and filling kind 3 which is needed by the declarant to pay the tax amount.The last date of payment of the income tax quantity without any extra quantity was August 31, 2021. However the last date for payment of income tax amount along with additional amount has actually not been altered, and it continues to be October 31, 2021, as was originally notified under the tax dispute resolution plan. Vivad Se Vishwas is a direct tax dispute resolution scheme, which had been announced by the Financing Ministry in the Union Budget plan of 2020. It was notified on March 17, 2020, to settle direct tax disputes locked up in numerous appellate online forums. The scheme provides for settlement of disputed tax, challenged interests, contested penalty or disputed costs. Thinking about the problems being faced in issuing and amending type number 3, which is a requirement for paying by the declarant under Vivad se Vishwas Act, it has actually been decided to extend the last date of payment of the quantity (with no extra quantity) to September 30, 2021. Necessary alert to this impact will be released shortly, a statement issued by the Ministry of Financing said.
Details
Category: Business

Write comment (99 Comments)


ITR 2020-21: Taxpayers have actually been advised by the earnings tax department to send out online reactions so that their refunds can be accelerated ... Income tax department wants to speed up the process of refunds for 2020-21Taxpayers have been advised by the earnings tax department to quickly send online actions so that their refunds which are pending for evaluation year 2020-21 can be expedited.According to a declaration by the department, it declared that as of now, around 93 per cent of refund claims in income tax returns which have been filed for the abovementioned assessment duration, have been processed. In the previous week, refunds of over Rs 15,269 crore have actually been released which will be credited to taxpayers quickly, the declaration said.The department even more stated that to speed up pending refunds of 2020-21, it is getting in touch with taxpayers, as their action would be needed for functions like prima facie adjustments, flaws, modification under area 245 and refund failure due to bank account inequality . The department requests taxpayers to react online quickly, so that income tax returns (ITRs) in such cases of 2020-21 can be processed expeditiously, the statement added.The statement said the income tax department has also commenced processing of ITRs 1 and 4 for AY 2021-22 and refunds, if any, will be provided straight to the checking account of the taxpayer .
Details
Category: Business

Write comment (99 Comments)


The board of directors, on September 1, 2021, will consider and approve the first interim dividend for the financial year 2021-22, Vedanta stated ...
Details
Category: Business

Write comment (91 Comments)


Gas and Diesel Cost Today in India: Fuel costs stayed static in all four cities for the 5th consecutive day on Sunday, August 29, 2021 ... Petrol and Diesel Rates Today in Delhi, Kolkata, Chennai, Mumbai: Fuel rates stayed staticPetrol, Diesel Price Today: Gas and diesel prices remained unchanged throughout the four metros on Sunday, August 29, 2021, for the fifth successive day. In the national capital, petrol rates were consistent at Rs 101.49 per litre, whereas diesel was at Rs 89.92 per litre, according to Indian Oil Corporation. In Mumbai, the petrol prices stood unchanged at Rs 107.52 per litre, while diesel cost Rs 96.48 per litre. (Also Read: How To Check Most Current Fuel And Diesel Rates In Your City). Amongst the 4 metro cities, petrol and diesel rates are the greatest in Mumbai, according to the state-run oil refiner. Fuel rates vary across the states due to value-added tax (BARREL). State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum modify fuel rates every day, considering the crude oil rates in international markets and the rupee-dollar exchange rates. Any modifications in petrol, diesel rates are carried out with result from 6 am every day.
Details
Category: Business

Write comment (94 Comments)


Hexaware supplies automation, cloud and customer services-related technology to a large range of markets including financing and education ...
Details
Category: Business

Write comment (90 Comments)


Bharti Airtel will raise up to Rs 21,000 crore by way of a rights problem to existing shareholders, the business stated in a regulatory filing to the stock market ...
Details
Category: Business

Write comment (97 Comments)


The draft guidelines state the Centre will not proceed with demands related to retrospective tax levy, provided that all business withdraw cases against it ...
Details
Category: Business

Write comment (95 Comments)