Category: Business

Business

FPIs inflow in equities drops to ₹7,320 crore in August on higher valuations

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FPIs inflow in equities drops to ₹7,320 crore in August on higher valuations

Foreign investors have adopted a cautious stance and infused ₹7,320 crore in the Indian equities in August owing to high valuation of stocks and the unwinding of the Yen carry trade after Bank of Japan raised interest rates. This investment was way lower than ₹32,365 crore in July and ₹26,565 crore in June, according to…

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Business

PVR INOX to close 70 non-performing screens in FY25, plans monetisation of real estate assets

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PVR INOX to close 70 non-performing screens in FY25, plans monetisation of real estate assets

 PVR INOX plans to close 70 non-performing screens in FY25. File | Photo Credit: Reuters Leading multiplex operator PVR INOX plans to close 70 non-performing screens in FY25 and will go for potential monetisation of non-core real estate assets in prime locations such as Mumbai, Pune, and Vadodara, according to its latest annual report. Though…

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Business

On Jobs, there’s nothing but the government in Jammu and Kashmir

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On Jobs, there’s nothing but the government in Jammu and Kashmir

J&K has more than 60,000 government daily wagers working for ₹300 per day. Representational file image. | Photo Credit: NISSAR AHMAD Professionals and those with graduate and post-graduate degrees in Jammu and Kashmir are heavily dependent on government jobs as the Union Territory (UT) lacks an industrial base, resulting in a high level of joblessness…

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Business

Trade ministry proposes anti-dumping duty on Chinese aluminium foil imports

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Trade ministry proposes anti-dumping duty on Chinese aluminium foil imports

Representational image of aluminium foil rolls at a factory in Binzhou, Shandong province, China | Photo Credit: Reuters The Ministry of Commerce and Industry has recommended imposing an anti-dumping duty on aluminium foil imported from China after surging shipments from the neighbouring country captured nearly a third of India’s market share despite ample local production…

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Business

Slowing of GDP growth due to lower govt spending, MCC: RBI Governor

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Slowing of GDP growth due to lower govt spending, MCC: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das speaks at the Global Fintech Fest (GFF) 2024, in Mumbai on Friday. | Photo Credit: ANI The slowing of India’s economic growth to a 15-month low of 6.7% in the April-June quarter was due to “lower” government spending in the wake of the enforcement of the model…

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Business

NCLT approves merger of Viacom 18, Star India

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NCLT approves merger of Viacom 18, Star India

The NCLT on Friday (August 30, 2024) approved the scheme of merger of Reliance Industries-owned Viacom 18 Media — the holding company of the group’s media and entertainment assets — with Star India. A two-member bench of the National Company Law Tribunal (NCLT) approved the composite Scheme of Arrangement among Viacom 18, Digital18 and Star…

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Business

Windfall tax on crude petroleum reduced to ₹1,850 per tonne

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Windfall tax on crude petroleum reduced to ₹1,850 per tonne

Representational image only. The government has cut the windfall tax on domestically-produced crude oil to ₹1,850 per tonne, from ₹2,100 per tonne with effect from Saturday (August 31, 2024.) The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF,…

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Business

No disruption in Bangladesh operations, says Assam refinery

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No disruption in Bangladesh operations, says Assam refinery

The Numaligarh Refinery Limited (NRL) has pipelines up to Siliguri in northern West Bengal, from where diesel is piped to Parbatipur in northern Bangladesh. | Photo Credit: The Hindu “The political upheaval in Bangladesh and anti-India sentiments have not affected operations in the neighbouring country,” an Assam-based public sector refinery and energy retailer claimed on…

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