Business Standard - June 19, 2024

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June 19, 2024

GST Council Likely To Address Retro Tax On Online Gaming

Move may give relief to firms facing 1.12 trn in tax demands

2 mins

More MNCs eye IPO route after Hyundai move

Investment bankers say early-stage talks on with half a dozen foreign companies

2 mins

Govt plans telecom PLI revamp, may focus on MSMEs, exports

The government is planning to revamp the production-linked incentive (PLI) scheme for the telecom sector in a bid to quickly boost exports and incorporate more micro and small units into the manufacturing ecosystem, officials said.

2 mins

Rural demand picking up, likely to hold this year: Das

RBI guv says premature to change stance, FY24 CAD may be less than 1%

2 mins

Bidders seek clarity on Haldiram's brand use

The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions.

2 mins

Google launches Gemini with support for 9 Indian languages

Google on Tuesday launched its Gemini app in India with support for nine Indian languages and English, giving users an artificial intelligence (AI) tool to answer queries by typing, talking, or uploading an image.

1 min

Glance to offer GenAI content on TV lock-screens

Glance, a company which is part of the global mobile advertising platform, InMobi- country's first unicorn backed by Softbank-will soon use generative AI to provide users personalised content such as news, entertainment, sports, weather, gaming, travel, food as well as e-commerce, amongst others, in various languages on the lockscreen of your television.

2 mins

Amazon Extends Grocery Biz To 130+ Cities

E-commerce giant Amazon India announced on Tuesday that it is expanding its grocery business, Amazon Fresh, to over 130 cities, including Ambala, Aurangabad, Hoshiarpur, Dharwad, Una, Suri, and others.

1 min

Voda to offload 10% in Indus Towers to raise ₹9,000 crore

British telecom giant Vodafone Group Plc is selling 10 per cent stake in Indus Towers, a telecom tower firm, to raise up to ₹9,000 crore via block deals on Wednesday.

2 mins

DRL, Warburg Pincus, EQT frontrunners to buy BSV

Advent looking to exit 4 years after it picked up majority stake in biopharma firm

2 mins

Meity hears industry concerns over Digital Competition Bill

Representatives of several bodies that speak for the internet and mobile business expressed on Tuesday their concern about the draft Digital Competition Bill.

1 min

After Bengal crash, Rlys says deploying Kavach on 3K km

A day after the collision of two trains in West Bengal, the Railway Ministry on Tuesday said the implementation of Automatic Train Protection System, also known as Kavach, is going on in a rapid manner on 3,000 route kilometer, and once completed it will help prevent such accidents.

1 min

Fitch raises FY25 growth forecast to 7.2%

Fitch Ratings on Tuesday raised India's GDP growth estimates for FY25 by 20 basis points to 7.2 per cent - the same as that of the Reserve Bank of India (RBI) - citing positive economic outlook driven by recovering consumer confidence and increased investment.

2 mins

Key infra sectors, realty may attract ₹15 trn by FY26

India's key infrastructure sectors real estate, renewable energy and roads are likely to see investments of 15 trillion over the next two financial years, CRISIL Ratings said on Tuesday.

2 mins

NFRA looks to intensify scrutiny of audit firms

WILL MORE THAN DOUBLE ITS RANKS IN COMING YEARS

2 mins

DICGC exceeds global avg with month-long depositor payout: Patra

The Deposit Insurance and Credit Guarantee Corporation of India (DICGC) takes nearly 30 days on average to reimburse insured depositors, compared to the global average of 14 days, according to Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra.

1 min

Day after load crash, govt says power capacity adequate

The power ministry on Tuesday said that despite the extreme weather and high electricity demand in the Northern region, supply has been robust.

1 min

Centre to hold training for states on labour code sensitisation

In a move to familiarise state governments with the new labour codes, the Ministry of Labour & Employment plans to conduct a workshop for state government labour officials in the coming months, according to sources familiar with the matter.

1 min

In meeting with revenue secy, industry calls for tax reforms

Three industry bodies suggested changes in India's tax regime in their pre-Budget discussions with Revenue Secretary Sanjay Malhotra in New Delhi on Tuesday.

2 mins

MSME ministry receives 'positive' feedback on 45-day payment rule

Any change in Finance Bill prerogative of finance ministry, says official

2 mins

Piramal Fin to double retail AUM by FY28

Piramal Finance plans to double assets under management (AUM) of its retail lending business to 1 trillion by 2027-28 (FY28) from over ₹50,000 crore now with emphasis on enhancing presence in small towns.

1 min

Advance tax mopup rises 27% in Q1

Net direct taxes up 21% to 4.62 trillion till June 17

1 min

Even 0.001% negligence should be dealt with: SC

The Supreme Court (SC) on Tuesday told the central government and the National Testing Agency (NTA) to ensure that even a \"0.001 per cent negligence\" in conducting the National Eligibility-cum-Entrance Test-Undergraduate (NEET-UG) 2024 exam is \"thoroughly dealt with\".

1 min

PM: Will continue serving developed India's 4 pillars

Says need for farm sector to focus on global mkt, attain self-reliance in pulses

1 min

Putin Vows To Support N Korea Against The US

Russian President Vladimir Putin vowed on Tuesday to deepen trade and security ties with North Korea and to support it against the United States, as he headed to the reclusive nuclear-armed country for the first time in 24 years.

1 min

Half a million immigrants could get US citizenship

Biden's new plan aims to balance his own crackdown on the border

2 mins

Paris Olympics could be hottest Games on record

The Paris Olympics could become the hottest ever in the history of the multisport event.

1 min

'Boeing lost track of bad 737 parts, may have used in new planes'

A Boeing quality inspector alleged that the planemaker mishandled and lost track of hundreds of faulty parts, some of which he said may have been installed on new 737 Max planes, the latest revelation by a whistleblower pointing out possible misconduct at the manufacturer.

1 min

Green agenda of Modi 3.0

In his very first speech to party workers after the election results were announced, Prime Minister era\" and how India seeks to be a leading player in green industrialisation, green energy, and green mobility.

3 mins

A blueprint for boosting exports

Nine suggestions to revitalise trade and spur economic growth

4 mins

Safety first

Railways must address the basics

2 mins

Drive to Dalal Street

Hyundai's listing will be positive for Indian markets

2 mins

NOT SO LISTLESS

The market in shares of unlisted companies is buzzing. And contrary to what you might think, it is all kosher

5 mins

Virat Tops Celebrity Rankings With $227.9 Million Brand Value

Cricketer Virat Kohli has reclaimed the top position in brand value, now reaching $227.9 million, surpassing Bollywood star Ranveer Singh, who holds the second spot with $203.1 million, according to Kroll's 'Celebrity Brand Valuation Report 2023: Brands, Business, Bollywood'.

1 min

Short circuits in a fire-safe state

The fourth part of the series on fire safety talks about Tamil Nadu's building norms and the violations

3 mins

Opposition MPs meet Sebi officials, seek probe into result-day crash

A delegation of Opposition leaders, led by TMC MPs, on Tuesday met senior officials of the Securities and Exchange Board of India (Sebi) and demanded an investigation into alleged \"manipulation” of the stock market on the back of exit polls.

1 min

Sebi May Tweak Derivatives Trading Rules To Curb Risks

Securities and Exchange Board of India (Sebi) is considering a series of tweaks to its derivatives trading rules, according to two sources, as it seeks to address risks arising from explosive growth in options trading.

2 mins

Markets scale fresh peaks

FPIs re-emerge as strong buyers; Nifty hits intraday highs for fourth consecutive session

1 min

Analysts bullish on Nykaa's outlook for beauty and personal care biz

FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently.

2 mins

Campus Activewear puts best foot forward

Q4 margin showing; recovery hopes drive gains for footwear major

2 mins

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