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Finance Ministry. File | Photo Credit: SHIV KUMAR PUSHPAKAR The finance ministry on Wednesday said more than 34.84 lakh audit reports, including about 34.09 lakh Tax Audit Reports (TARs), have been filed for assessment year 2024-25 on the e-filing portal till October 7. The income tax department had extended the date for filing the audit…
In signs of improving financial metrics of telecom firms, the monthly average revenue for mobile services rose over 8% year-on-year to ₹157.45 per user in the quarter ended June 2024, according to a Telecom Regulatory Authority of India (TRAI) report. The monthly average revenue per user (ARPU) for wireless service stood at ₹153.54 in the…
Read More “Telcos monthly average revenue per user climbs 8% to ₹157.45 in Jun quarter: TRAI” »
HDFC Bank. File | Photo Credit: Reuters The Board HDFC Bank on Thursday approved sale of 100% stake in HDFC Edu to Vama Sundari Investments (Delhi) Private Ltd., an HCL Group Company. Also Read: NSDL gets Sebi nod to float IPO; NSE, HDFC Bank, SBI to pare stakes V.S. Rangan, Executive Director, HDFC Bank, said,…
“The Indian Rupee remained steady as the RBI left repo rate and CRR unchanged at 6.5% and 4.5%, respectively,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas. | Photo Credit: The Hindu The Rupee traded in a narrow range and settled for the day higher by just one paisa at 83.96 (provisional)…
Read More “Rupee rises one paisa to close at 83.96 against U.S. dollar” »
Rajeev Singh Raghuvanshi. File India’s drug regulator Drugs Controller General of India (DCGI) on Wednesday (October 9, 2024) said manufacturers of around 45 medicines have been ordered to recall their products for not meeting quality norms, while action has been initiated to book the makers of five spurious drugs. In an interaction with reporters on…
Image for representational purposes only. | Photo Credit: REUTERS South Korean automaker’s Indian arm Hyundai Motor India Ltd will launch the largest initial public offering (IPO) in the country’s history next week, aiming to raise ₹27,870 crore (about $3.3 billion). This IPO will surpass the ₹21,000 crore offering by Life Insurance Corporation of India (LIC)…
Image for representational purposes only. | Photo Credit: REUTERS Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday (October 9, 2024) due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy…
Read More “Stock markets close lower on fag-end selling as RBI changes stance to neutral” »
Reserve Bank of India governor Shaktikanta Das delivers the Monetary Policy statement, on October 9, 2024. | Photo Credit: PTI Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday (October 9, 2024) warned of action against those non-banking financial companies (NBFCs) who are pursuing unsustainable practices to push growth. In a strongly-worded statement, while…
The Mumbai bench of NCLT has appointed Debashis Nanda as the interim resolution professional suspending the board of Syska LED Lights, as per the provisions of the Insolvency & Bankruptcy Code (IBC). | Photo Credit: Getty Images/iStockphoto The National Company Law Tribunal (NCLT) has been directed to initiate insolvency proceedings against Syska LED Lights, admitting the…
Read More “NCLT directs to initiate insolvency proceedings against Syska LED Lights” »
The RBI cited the favourable agricultural crop outlook which could ease food inflation pressures, subject to weather risks. File photo | Photo Credit: REUTERS The Reserve Bank of India (RBI) has projected India’s real GDP growth for FY25 at 7.2 per cent, while CPI inflation for the fiscal year is expected to moderate to 4.5 per…
Read More “RBI projects 7.2% GDP growth for FY25, CPI inflation to moderate at 4.5%” »