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IndiaTV Business: Google News Feed: Digest for May 16, 2023

IndiaTV Business: Google News Feed

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New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
New Delhi:  Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April.
Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, has slashed nearly 35 percent of its workforce as part of a restructuring exercise, the media reported.

THIS SME IPO has doubled investors money on listing

Monday 15 May 2023 09:58 AM UTC+00
Share of Innokaiz India were locked in the lower circuit of 5 per cent on Monday after a stellar debut on BSE SME platform. The shares of the marketing solutions company were off to a fiery start, debuting at Rs 148.20 apiece -- up 90 per cent from the IPO issue price of 78.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
New Delhi:  Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April.
Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, has slashed nearly 35 percent of its workforce as part of a restructuring exercise, the media reported.

THIS SME IPO has doubled investors money on listing

Monday 15 May 2023 09:58 AM UTC+00
Share of Innokaiz India were locked in the lower circuit of 5 per cent on Monday after a stellar debut on BSE SME platform. The shares of the marketing solutions company were off to a fiery start, debuting at Rs 148.20 apiece -- up 90 per cent from the IPO issue price of 78.
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
New Delhi:  Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April.
Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, has slashed nearly 35 percent of its workforce as part of a restructuring exercise, the media reported.

THIS SME IPO has doubled investors money on listing

Monday 15 May 2023 09:58 AM UTC+00
Share of Innokaiz India were locked in the lower circuit of 5 per cent on Monday after a stellar debut on BSE SME platform. The shares of the marketing solutions company were off to a fiery start, debuting at Rs 148.20 apiece -- up 90 per cent from the IPO issue price of 78.
Ahead of the first ministerial-level meeting of the India-EU Trade and technology council (TTC), Union Commerce Minister Piyush Goyal attended a crucial conference in Toronto in order to help Indian startups expand in Canada.
PVR INOX, multiplex operator, has announced that it will shut down around 50 loss making cinema screens in the next 6 months.
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
New Delhi:  Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April.
Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, has slashed nearly 35 percent of its workforce as part of a restructuring exercise, the media reported.

THIS SME IPO has doubled investors money on listing

Monday 15 May 2023 09:58 AM UTC+00
Share of Innokaiz India were locked in the lower circuit of 5 per cent on Monday after a stellar debut on BSE SME platform. The shares of the marketing solutions company were off to a fiery start, debuting at Rs 148.20 apiece -- up 90 per cent from the IPO issue price of 78.
Ahead of the first ministerial-level meeting of the India-EU Trade and technology council (TTC), Union Commerce Minister Piyush Goyal attended a crucial conference in Toronto in order to help Indian startups expand in Canada.
PVR INOX, multiplex operator, has announced that it will shut down around 50 loss making cinema screens in the next 6 months.
New Delhi: The first ministerial meeting of the India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday.
People will be able to block and track their lost or stolen mobile phones across India with the rollout of a tracking system by the government this week, a senior government official said. Technology development body Centre for Department of Telematics (CDoT) has been running the pilot of the CEIR system in some of the telecom circles, including Delhi, Maharashtra, Karnataka, and North East region, and the system is now ready for pan-India deployment, a DoT official, who did not wish to be identified, told PTI.

FPI bought equity worth Rs 18,617 crore in May

Sunday 14 May 2023 11:13 AM UTC+00
Business news: In the month of May, foreign portfolio investors (FPI) bought equity for Rs 18,617 crore. VK Vijayakumar, the Chief Investment Strategist at Geojit Financial Services said there is a distinct change in the FPI strategy with a clear tilt in favour of India.
Alliance Air: Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.
Premium specialty chemicals company Vikas Ecotech has declared its financial results for the January-March quarter of FY23. The company has reported an astounding increases in its net profit during the reporting fiscal, driven by higher sales and cut in debts.
New Delhi:  Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April.
Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, has slashed nearly 35 percent of its workforce as part of a restructuring exercise, the media reported.

THIS SME IPO has doubled investors money on listing

Monday 15 May 2023 09:58 AM UTC+00
Share of Innokaiz India were locked in the lower circuit of 5 per cent on Monday after a stellar debut on BSE SME platform. The shares of the marketing solutions company were off to a fiery start, debuting at Rs 148.20 apiece -- up 90 per cent from the IPO issue price of 78.
Ahead of the first ministerial-level meeting of the India-EU Trade and technology council (TTC), Union Commerce Minister Piyush Goyal attended a crucial conference in Toronto in order to help Indian startups expand in Canada.
PVR INOX, multiplex operator, has announced that it will shut down around 50 loss making cinema screens in the next 6 months.
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