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The story so far: In a move towards standardisation and preventing the circumvention of duty, the Finance Ministry on Tuesday hiked import duties on gold and silver findings and coins of precious metal to 15%. This is inclusive of Basic Customs Duty (BCD), taxed at 10% of assessable value, and Agriculture Infrastructure Development Cess (AIDC)…
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Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget session of Parliament, in New Delhi, on February 5, 2024. | Photo Credit: PTI Finance Minister Nirmala Sitharaman on February 5 proposed an interim Budget of ₹1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir. The interim…
Read More “Jammu and Kashmir Interim Budget | Sitharaman proposes ₹1.18 lakh crore for 2024-25” »
Adani Power Limited’s bank loan facilities were rated ‘A’ with a stable outlook earlier. | Photo Credit: Photo Credit: X/@CRISILLimited Crisil Ratings has upgraded its ratings on Adani Power Limited’s (APL) ₹38,000 crore of bank loan facilities to ‘AA-‘, saying the business and financial risk profile of the company has seen “strong improvement”. The loan…
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The Rupee depreciated eight paise to settle at 83.06 (provisional) against the U.S. dollar on February 5, as strengthening American currency overseas and negative sentiment in the domestic equity markets weighed on the local unit. “However, the downward trend in the global crude oil prices supported the domestic unit and restricted its decline,” forex traders…
Read More “Rupee falls eight paise to settle at 83.06 against U.S. dollar” »
The 30-share BSE Sensex on February 5, 2024, declined by 354.21 points or 0.49% to settle at 71,731.42 on fag-end selling. | Photo Credit: ANI Benchmark Sensex fell back by 354 points on February 5 due to selling in index major Reliance Industries, Bharti Airtel and Maruti amid weak trends from Asian and European markets….
Read More “Stock markets settle lower on fag-end selling; Reliance, Airtel drag” »
File picture of proceedings of the Lok Sabha | Photo Credit: ANI The government on Monday sought Lok Sabha’s approval for a net additional spending of ₹78,673 crore in the current financial year. The second batch of supplementary demands for grants for 2023-24 fiscal was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman….
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Image for representation | Photo Credit: K.R. Deepak The services sector growth in India rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to…
BPCL posted a net profit of ₹22,449.32 crore in the 9-month period of current fiscal as compared to a loss of ₹4,607.64 crore in the same period last year. | Photo Credit: The Hindu State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) reported bumper profit…
Representational image of the Hyundai logo. | Photo Credit: AP South Korea’s Hyundai Motor is exploring an initial public offering (IPO) for its Indian unit to raise at least $3 billion, two sources familiar with the matter said on Monday. Hyundai Motor India is also in early stage talks for an IPO later this year…
Read More “Hyundai mulls $3 billion India IPO at $25-30 billion valuation: sources” »
Paytm. File. | Photo Credit: REUTERS Shares of Indian digital payments firm Paytm slumped 10% to a near record low on Monday, extending a rout from last week triggered by a regulatory crackdown on its banking unit. Paytm has lost about $2.5 billion or about 43% of its market value since the Reserve Bank of…
Read More “Paytm nears record low, market value down about $2.5 billion since RBI crackdown” »