Hyundai avails ₹1,200 cr tax exemptions in FY23
The Morning Standard|June 18, 2024
HYUNDAI Motors India, which is looking to raise ₹25,000 crore through public issue of shares, has availed tax exemptions and government incentives worth ₹886 crore in the first nine months of 2023-24, the draft red herring prospectus (DRHP) of the company showed.
Hyundai avails ₹1,200 cr tax exemptions in FY23

In the previous financial year, the company had availed ₹1,205 crore worth of those incentives.

These incentives include electricity tax exemptions, investment promotion subsidies in the form of state GST reimbursements, fiscal incentives such as a central sales tax (CST) soft loan at a concessional rate of interest; clean energy vehicle (CEV) subsidy; and interest free deferred sales tax.

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THE MORNING STANDARD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
The Morning Standard

Govt to borrow ₹6.61L cr in H2, maintains target

The Centre has retained its borrowing target for the current financial year as it announced its ₹6.61 lakh crore borrowing plan for the second half of the financial year.

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1 min  |
September 27, 2024
Asset quality problems to lift MFIs credit cost
The Morning Standard

Asset quality problems to lift MFIs credit cost

RISING credit cost stemming from asset quality challenges that have begun to surface since many months now will crimp the profitability of microfinance institutions due to the higher credit cost which will halve their return on managed assets to 2-2.5% this fiscal from a high of 4% last fiscal.

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1 min  |
September 27, 2024
The Morning Standard

SpiceJet starts clearing salaries of employees

AVIATION DAYS after raising 3,000 crore through a Qualified Institutional Placement (QIP), budget carrier SpiceJet has started crediting the pending salaries of its employees for the months of June, July and August.

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1 min  |
September 27, 2024
Nifty rises 20%, Sensex gains 19% in CY24
The Morning Standard

Nifty rises 20%, Sensex gains 19% in CY24

Rally is primarily driven by unprecedented surge in liquidity from domestic investors - both institutional and retail

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2 dak  |
September 27, 2024
The Morning Standard

Sebi eases reporting norms for trading, clearing members

MARKET watchdog Sebi has done away with as many as 90% of the reporting requirements for market makers like trading members, clearing members, and depository participants.

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1 min  |
September 27, 2024
The Morning Standard

Byju's insolvency case: SC halts creditors meeting

THE Supreme Court on Thursday reserved its verdict and directed the Insolvency Resolution Professional (IRP) of edtech firm Byju's to maintain status quo and not hold any meeting of the Committee of Creditors.

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1 min  |
September 27, 2024
The Morning Standard

OMCs can reduce petrol, diesel prices by ₹2-3: ICRA

OIL marketing companies (OMCs) could reduce petrol and diesel prices by ₹2-3 per litre if the international crude prices remain stable, according to a report by ICRA.

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1 min  |
September 27, 2024
Hurun's under-35 list: Isha Ambani, Parekh yongest women entrepreneurs
The Morning Standard

Hurun's under-35 list: Isha Ambani, Parekh yongest women entrepreneurs

Reliance Retail Ventures’ executive director Isha Ambani, 32, and Toddle co-founder Parita Parekh, 32, are the youngest women entrepreneurs in the 2024 hurun India Under-35 list.

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1 min  |
September 27, 2024
Swiggy to raise ₹3,750 cr through public offer
The Morning Standard

Swiggy to raise ₹3,750 cr through public offer

FOOD tech firm Swiggy said on Thursday it aims to raise ₹3,750 core ($449 million) in its initial public offering (IPO). existing shareholders such as Accel India and Tencent europe will sell about ₹185.3 million shares, Swiggy said in its draft prospectus.

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1 min  |
September 27, 2024
The Morning Standard

Reform pain after IMF's $7 bn relief package to Pak

ISLAMABAD PAKISTAN said on Thursday it would have to go through \"transitional pain\" after the International Monetary Fund agreed to a new relief package of $7 billion to bolster its economy.

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1 min  |
September 27, 2024