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IndiaTV Business: Google News Feed: Digest for July 28, 2023

IndiaTV Business: Google News Feed

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Reliance Industries Limited (RIL) has joined hands with Brookfield Infrastructure Partners Lp and Digital Realty Trust Inc. in a three-manner venture for setting up special purpose vehicles (SPVs) pointed toward creating server farms in India. RIL will hold a 33.33% stake in the SPVs, a joint statement by the three partners said. Digital Realty Trust is the biggest supplier of Cloud and carrier-neutral data centre, co-area and interconnection solutions internationally with 300+ data centres across 27 nations.
Stock markets: As investors remained on the sidelines ahead of the Federal Reserve rate decision and busy week of corporate earnings, equity benchmark indices Sensex and Nifty opened on a flat note in early trade on Tuesday. Foreign fund outflows and surging crude oil prices also weighed on sentiments.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, said IMF's World Economic Outlook Growth Projections on Tuesday.

Adani Group shares jump, adds Rs 50,501 crore in a day

Tuesday 25 July 2023 03:32 PM UTC+00
Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
Infrastructural and structural steel manufacturer GG Engineering has announced the rights issue of equity share. A rights share issue is a kind of corporate action in which a listed company invited its existing shareholders to buy additional shares directly from the company at a discounted price.
Fast paced entrepreneur Dunzo has received legal notices from at least 7 organizations since March of this year. According to Moneycontrol sources, Dunzo has received notices from Google India, Nilenso, Clover Adventures, Facebook India Online Services Private Limited, Cupshup, Koo and Glance. Dunzo's total market capitalization is around Rs 114 which is almost double the recent valuation of Rs 5-6.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, said IMF's World Economic Outlook Growth Projections on Tuesday.

Adani Group shares jump, adds Rs 50,501 crore in a day

Tuesday 25 July 2023 03:32 PM UTC+00
Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
Infrastructural and structural steel manufacturer GG Engineering has announced the rights issue of equity share. A rights share issue is a kind of corporate action in which a listed company invited its existing shareholders to buy additional shares directly from the company at a discounted price.
Fast paced entrepreneur Dunzo has received legal notices from at least 7 organizations since March of this year. According to Moneycontrol sources, Dunzo has received notices from Google India, Nilenso, Clover Adventures, Facebook India Online Services Private Limited, Cupshup, Koo and Glance. Dunzo's total market capitalization is around Rs 114 which is almost double the recent valuation of Rs 5-6.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.
The Government of India has recently announced a ban on the export of non-basmati white rice with immediate effect to stabilise the volatile retail prices in the country. The move has raised concerns in countries in Africa, Asia and even the United States and food prices have started to see a rise globally.
Growth in India is projected at 6.1 per cent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, said IMF's World Economic Outlook Growth Projections on Tuesday.

Adani Group shares jump, adds Rs 50,501 crore in a day

Tuesday 25 July 2023 03:32 PM UTC+00
Billionaire Gautam Adani's ports to power conglomerate added over Rs 50,501 crore in market capitalisation in a single day on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors. The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10.6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501.26 crore over an m-cap of around Rs 10.1 lakh crore on the previous year, stock exchange data showed. Market experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
Infrastructural and structural steel manufacturer GG Engineering has announced the rights issue of equity share. A rights share issue is a kind of corporate action in which a listed company invited its existing shareholders to buy additional shares directly from the company at a discounted price.
Fast paced entrepreneur Dunzo has received legal notices from at least 7 organizations since March of this year. According to Moneycontrol sources, Dunzo has received notices from Google India, Nilenso, Clover Adventures, Facebook India Online Services Private Limited, Cupshup, Koo and Glance. Dunzo's total market capitalization is around Rs 114 which is almost double the recent valuation of Rs 5-6.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.
Infrastructural and structural steel manufacturer GG Engineering has announced the rights issue of equity share. A rights share issue is a kind of corporate action in which a listed company invited its existing shareholders to buy additional shares directly from the company at a discounted price.
Fast paced entrepreneur Dunzo has received legal notices from at least 7 organizations since March of this year. According to Moneycontrol sources, Dunzo has received notices from Google India, Nilenso, Clover Adventures, Facebook India Online Services Private Limited, Cupshup, Koo and Glance. Dunzo's total market capitalization is around Rs 114 which is almost double the recent valuation of Rs 5-6.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.

Air India plans to operate flights to THESE US cities

Thursday 27 July 2023 09:05 AM UTC+00
Tata Group-owned Air India is planning to expand its base in the US and various cities and is assessing potential new destinations, according to news agency PTI sources. Currently, the airline operates non-stop flights to five American cities, which are, Washington, DC, New York, New Jersey, Chicago and San Francisco.
Due to the air conditioner (AC), we can sleep peacefully even in the scorching heat. Access to air-conditioners (ACs) can have an exceptionally huge effect on one's capacity to adapt to summer in enormous parts of the country. It is difficult to ascertain from traditional sources of data on assets in Indian households how many households currently have ACs. The 2011 decadal census, which has data on different sorts of resources like radio/television or bikes/vehicles or PC and the internet didn't look for data about responsibility. 
Ujjivan Small Finance Bank on Thursday posted a 60 per cent rise in net profit at Rs 324 crore in the June quarter, helped by a decline in bad loans. The bank had posted a net profit of Rs 203 crore in the year-ago period.
Fast paced entrepreneur Dunzo has received legal notices from at least 7 organizations since March of this year. According to Moneycontrol sources, Dunzo has received notices from Google India, Nilenso, Clover Adventures, Facebook India Online Services Private Limited, Cupshup, Koo and Glance. Dunzo's total market capitalization is around Rs 114 which is almost double the recent valuation of Rs 5-6.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.

Air India plans to operate flights to THESE US cities

Thursday 27 July 2023 09:05 AM UTC+00
Tata Group-owned Air India is planning to expand its base in the US and various cities and is assessing potential new destinations, according to news agency PTI sources. Currently, the airline operates non-stop flights to five American cities, which are, Washington, DC, New York, New Jersey, Chicago and San Francisco.
Due to the air conditioner (AC), we can sleep peacefully even in the scorching heat. Access to air-conditioners (ACs) can have an exceptionally huge effect on one's capacity to adapt to summer in enormous parts of the country. It is difficult to ascertain from traditional sources of data on assets in Indian households how many households currently have ACs. The 2011 decadal census, which has data on different sorts of resources like radio/television or bikes/vehicles or PC and the internet didn't look for data about responsibility. 
Ujjivan Small Finance Bank on Thursday posted a 60 per cent rise in net profit at Rs 324 crore in the June quarter, helped by a decline in bad loans. The bank had posted a net profit of Rs 203 crore in the year-ago period.
Qatar Airways said Thursday it earned a profit of USD 1.2 billion over the last fiscal year, boosted in part by the small Arabian Peninsula country's hosting of the 2022 FIFA World Cup. Qatar Airways, like other carriers in Gulf Arab nations, relies on the country's location to ferry passengers between the East and West. Its earned revenue of USD 20.9 billion over the year is up from USD 14.4 billion the year before.
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.

Air India plans to operate flights to THESE US cities

Thursday 27 July 2023 09:05 AM UTC+00
Tata Group-owned Air India is planning to expand its base in the US and various cities and is assessing potential new destinations, according to news agency PTI sources. Currently, the airline operates non-stop flights to five American cities, which are, Washington, DC, New York, New Jersey, Chicago and San Francisco.
Due to the air conditioner (AC), we can sleep peacefully even in the scorching heat. Access to air-conditioners (ACs) can have an exceptionally huge effect on one's capacity to adapt to summer in enormous parts of the country. It is difficult to ascertain from traditional sources of data on assets in Indian households how many households currently have ACs. The 2011 decadal census, which has data on different sorts of resources like radio/television or bikes/vehicles or PC and the internet didn't look for data about responsibility. 
Ujjivan Small Finance Bank on Thursday posted a 60 per cent rise in net profit at Rs 324 crore in the June quarter, helped by a decline in bad loans. The bank had posted a net profit of Rs 203 crore in the year-ago period.
Qatar Airways said Thursday it earned a profit of USD 1.2 billion over the last fiscal year, boosted in part by the small Arabian Peninsula country's hosting of the 2022 FIFA World Cup. Qatar Airways, like other carriers in Gulf Arab nations, relies on the country's location to ferry passengers between the East and West. Its earned revenue of USD 20.9 billion over the year is up from USD 14.4 billion the year before.
RBI rules change: From August 1, 2023, various changes linked to GST, payments system will come into effect. Changes may also occur in LPG, PNG and commerical gas prices. These changes directly impact a common man's budget as they are linked to various financial tasks. Let's take a look at financial services with respect to their availability and expected change in rules.       
Stock markets: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday helped by fresh foreign fund inflows and rally in the US markets. The 30-share BSE Sensex climbed 270.39 points to 66,626.10. The broader NSE Nifty advanced 69 points to 19,748.85.

What are the penalties under Income Tax Act? Check details

Wednesday 26 July 2023 08:43 AM UTC+00
Tax evasion is a serious offense with heavy penalties (plus interest) under the Income Tax Act (Act) 1961. It is worth noting that sometimes fines are used normally, while in special cases it is at the discretion of the tax office.
Shares of Servotech Power System, a leading clean energy solutions provider, are all set to trade ex-split this week. According to information available on NSE, the board had earlier announced the sub-division (split) of equity shares in the ratio of 1:1.
The Federal Reserve raised interest rates by 0.25 percent to a 22-year high on Wednesday, as it plans to expand further this year. The Federal Open Market Committee (FOMC) is expected to continue the fiscal year tightening, raising the Fed funds rate from 5.25% to 5.5%.
Stock markets: Aided by sustained buying by foreign institutional investors and value-buying in bellwether stocks, equity benchmark indices Sensex and Nifty continued their upward movement in early trade on Thursday. Indices are expected to stay in the positive territory after the US Federal Reserve's move on interest rate hike came in on expected lines, traders said.

Air India plans to operate flights to THESE US cities

Thursday 27 July 2023 09:05 AM UTC+00
Tata Group-owned Air India is planning to expand its base in the US and various cities and is assessing potential new destinations, according to news agency PTI sources. Currently, the airline operates non-stop flights to five American cities, which are, Washington, DC, New York, New Jersey, Chicago and San Francisco.
Due to the air conditioner (AC), we can sleep peacefully even in the scorching heat. Access to air-conditioners (ACs) can have an exceptionally huge effect on one's capacity to adapt to summer in enormous parts of the country. It is difficult to ascertain from traditional sources of data on assets in Indian households how many households currently have ACs. The 2011 decadal census, which has data on different sorts of resources like radio/television or bikes/vehicles or PC and the internet didn't look for data about responsibility. 
Ujjivan Small Finance Bank on Thursday posted a 60 per cent rise in net profit at Rs 324 crore in the June quarter, helped by a decline in bad loans. The bank had posted a net profit of Rs 203 crore in the year-ago period.
Qatar Airways said Thursday it earned a profit of USD 1.2 billion over the last fiscal year, boosted in part by the small Arabian Peninsula country's hosting of the 2022 FIFA World Cup. Qatar Airways, like other carriers in Gulf Arab nations, relies on the country's location to ferry passengers between the East and West. Its earned revenue of USD 20.9 billion over the year is up from USD 14.4 billion the year before.
RBI rules change: From August 1, 2023, various changes linked to GST, payments system will come into effect. Changes may also occur in LPG, PNG and commerical gas prices. These changes directly impact a common man's budget as they are linked to various financial tasks. Let's take a look at financial services with respect to their availability and expected change in rules.       
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