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Benchmark Sensex tanked 542 points to settle at a four-week low while Nifty closed below the 19,400 mark, extending their losses for a third straight day on Thursday in tandem with a bearish trend in global markets following the U.S. rating downgrade. The 30-share BSE Sensex fell by 542.10 points or 0.82% to settle at…
MRF Ltd., standalone net profit for the June quarter rose more than fivefold to ₹581 crore over the year earlier period due to increase in sales volume and softening of input costs. Revenue from operations increased by 13% to ₹6,323 crore, material costs declined to ₹3,722 crore from ₹4,043 crore, the tyre major said in…
Read More “MRF Q1 net up fivefold to ₹581 cr. on increase in sales volume” »
Since 2017, the Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation in the country. The monthly data released as part of this initiative has generally shown net increases in the number of contributors and this has been portrayed as evidence of…
Read More “Data | The contours of India’s ‘formal jobs’ crisis” »
“With this investment, Mahindra’s EV subsidiary’s valuation goes up by 15% from up to ₹70,070 crores to up to ₹80,580 crores. The breadth of global experience of these marquee investors will be valuable for MEAL,” M&M said in a statement. | Photo Credit: Special arrangement Mahindra & Mahindra Ltd. and global investment firm Temasek have…
Read More “Temasek to invest ₹1,200 crore in Mahindra’s passenger EV company MEAL” »
New regulations require import licences with immediate effect; will hit short-term availability of Dell, HP, Lenovo, Apple laptops; boost for domestic laptop assembly firms; unclear impact on ITeS sector Source link
PressReader’s B2B network facilitates the distribution of The Hindu’s content to global subscribers. | Photo Credit: Special Arrangement PressReader, a leading all-you-can-read platform of newspapers and magazines, has announced the renewal of its partnership with The Hindu. The collaboration enables PressReader’s subscribers and users across its extensive global B2B network to once again access the…
Image used for representational purpose only. | Photo Credit: The Hindu India’s dominant services sector expanded at its fastest pace in 13 years last month as demand increased significantly despite elevated inflationary pressures, a business survey showed on Thursday (August 3). S&P Global’s India services purchasing managers’ index rose to 62.3 in July from June’s…
Read More “India’s services sector growth at 13-year high in July on strong demand” »
Union Finance Minister Nirmala Sitharaman with Union MoS for Finance Pankaj Chaudhary and Revenue Secretary Sanjay Malhotra during the 51st Goods and Services Tax (GST) Council Meeting, in New Delhi, on August 2, 2023. | Photo Credit: PTI The GST Council on August 2 blinked a little on technicalities and kept the door open for…
Read More “GST Council sticks to its guns, imposes 28% tax on online gaming ” »
Representational image only. | Photo Credit: Twitter/@IncomeTaxIndia The number of Income Tax Returns (ITRs) filed by the July 31 deadline touched a new high of 6.77 crore this year, 16.1% higher than a year ago, with 53.67 lakh taxpayers filing returns for the first time. A little less than 10% of all return filings took…
Read More “6.77 crore IT returns, a surge of 16.1%, filed by July 31” »
Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…
Read More “GST revenues register three-month high in July” »