Category: Business

Business

India’s logistics cost will reduce to single-digit in 5 years: Gadkari

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India’s logistics cost will reduce to single-digit in 5 years: Gadkari

India’s logistics cost will reduce to single-digit in five years, Union Road Transport and Highways Minister Nitin Gadkari said on Thursday. Addressing the ‘Deloitte Government Summit’ in Delhi, Gadkari said the ministry is constructing several highways and expressways that will help reduce India’s logistics cost. “I am confident within five years our logistics cost will…

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Vodafone-Idea shares dip 21% as Supreme Court rejects curative petition on AGR dues 

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Vodafone-Idea shares dip 21% as Supreme Court rejects curative petition on AGR dues 

Vodafone closed at ₹10.43 down around 20% from the day’s open. File | Photo Credit: Reuters Vodafone Idea stocks fell 21% to ₹10.69 at 12.15 p.m. on September 19, from the day’s open of ₹12.99 as Supreme Court rejected the company’s curative petition on Adjusted Gross Revenues (AGR) dues.   The three-judge Bench ruled that there was…

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Business

Sensex, Nifty hit record highs on U.S. Fed rate cut; banks lead gains

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Sensex, Nifty hit record highs on U.S. Fed rate cut; banks lead gains

The BSE benchmark dropped 131.43 points, or 0.16%, to settle at 82,948.23 on Wednesday (September 18, 2024). | Photo Credit: Reuters Benchmark equity indices Sensex and Nifty climbed to fresh record high levels on Thursday (September 19, 2024) in line with firm global trends after the U.S. Federal Reserve announced the first cut in policy…

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Business

Telecom AGR dues: Supreme Court dismisses curative pleas on computation ‘errors’

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Telecom AGR dues: Supreme Court dismisses curative pleas on computation ‘errors’

A view of the Supreme Court of India. File | Photo Credit: The Hindu The Supreme Court has dismissed curative petitions filed by telecom service providers, including Bharti Airtel and Vodafone Idea, against the court’s October 2019 judgment upholding the Department of Telecom’s (DoT) move to recover adjusted gross revenue (AGR) of about ₹92,000 crore…

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Business

Sensex, Nifty scale fresh peaks after U.S. Federal Reserve’s rate cut

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Sensex, Nifty scale fresh peaks after U.S. Federal Reserve’s rate cut

Bombay Stock Exchange (BSE). | Photo Credit: Reuters Benchmark equity indices Sensex and Nifty surged to their fresh record high levels in early trade on Thursday after the U.S. Federal Reserve cut its benchmark interest rate after more than four years. The 30-share BSE Sensex jumped 735.95 points to scale a new all-time high of…

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Business

IL&FS firm NTBCL gets tax demand relief of ₹21,000 crore from ITAT

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IL&FS firm NTBCL gets tax demand relief of ₹21,000 crore from ITAT

The Noida Toll Bridge Company Limited (NTBCL) built and today manages the Delhi-Noida-Delhi (DND) flyway The Income Tax Appellate Tribunal (ITAT) has overturned the tax demand of approximately ₹21,000 crore on listed company Noida Toll Bridge Company Limited (NTBCL), an IL&FS Group entity, that had built and today manages the Delhi-Noida-Delhi (DND) flyway.  The demand…

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Business

Rupee rises 6 paise to 83.70 against U.S. dollar after fed rate cate

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Rupee rises 6 paise to 83.70 against U.S. dollar after fed rate cate

Image used for representative purpose only. | Photo Credit: Reuters The rupee rose 6 paise to 83.70 against the U.S. dollar in early trade on Thursday, reflecting strong investor sentiment after the U.S. Federal Reserve decided to cut interest rate in line with market expectations. The rupee also got support from lower crude oil prices,…

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Business

Tupperware files for bankruptcy protection

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Tupperware files for bankruptcy protection

Image for representational purposes only. The story so far: Concluding a grim run of declining sales since the third quarter of 2021, food storage and homeware maker Tupperware on Thursday filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court for the District of Delaware. Explaining the rationale, President and CEO Laurie Ann Goldman…

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Business

Indian shares set to open higher after bumper U.S. Fed rate cut

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Indian shares set to open higher after bumper U.S. Fed rate cut

Image used for representative purpose only. | Photo Credit: ANI Indian shares are set to open marginally higher on Thursday (September 19, 2024) as the U.S. Federal Reserve started its monetary easing cycle with a large 50-basis-point rate cut. The GIFT Nifty was at 25,453.5 points as of 08:08 a.m. IST, indicating the NSE Nifty…

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