The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
European soccer's governing body UEFA on Monday said clubs and players joining the proposed breakaway Super League could be banned from all of its competitions and the World Cup as it condemned a "disgraceful and self-serving proposal".
Sheffield United players have also agreed to defer wages due to COVID-19 pandemic.
The International Cricket Council's (ICC) board has voted to pass a new financial model to reverse a 2014 decision which effectively put India, England and Australia in control of the game's finances and administration.
The Reserve Bank, in Annual Monetary Policy Statement, has also asked banks to set up internal exposure limits for those non-banking financial companies who have gold loans portfolio of more than 50 per cent of the total financial assets.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
'The 5.3% growth in wages per employee is the lowest growth in nine years,' points out Mahesh Vyas.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Deposit amount can equal investor's stake, won't impact his holding as it is a loan
Several Premier League clubs have furloughed employees since the new coronavirus outbreak while others, such as West Ham United and Southampton, have said their players have accepted wage deferrals. While CA announced plans to furlough almost 80% of staff last week, putting them on 20 per cent pay until June 30 when it is hoped more will be known about how long government curbs to control the coronavirus will last.
While it is not clear whether the new form will be applicable from this year, some chartered accountants say that things can go both ways. The new deadline for filing ITR is November 30.
Trade unions said Jaitley's minimum wage announcement is completely inadequate
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Sixteen companies in the group registered a turnover of over $500 million, with ten of these registering a turnover of over $1 billion
The Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote domestic cultivation of oil palm in the next five years, and reduce the country's dependence on edible oil imports. The decision comes after Prime Minister Narendra Modi announced the new central scheme on August 15 during his Independence Day speech at Red Fort. Briefing the media, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the NMEO-OP with a focus on the northeast region and the Andaman and Nicobar Islands with a financial outlay of Rs 11,040 crore.
Senior management of companies use this visa for working in the US.
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
Will this announcement have any material impact on the stock price when the markets open for trade on Monday, April 18 at 9.15 am?
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.
Leading job portal Monster.com said on Monday that recruitment activities in many sectors witnessed a decline last month compared to July.
'Given that the economy is going through a slowdown, further downward revisions of the 2019-2020 growth estimates cannot be ruled out,' notes A K Bhattacharya.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
Four specific areas will be watched carefully in the first half of FY16
The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.
To save promoters from 10% levy, 70 firms call board meetings on interim pay.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
'By entering at an early age, they stand a better chance of developing into skilled investors.'
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Finance Minister Arun Jaitley will pitch for quota and governance reforms in the annual meeting of the International Monetary Fund.
The Premier League has said its clubs will consult with their players over a proposed 30% reduction in wages and the suspended season would only resume when it was "safe and appropriate". While there has been speculation about a reduced season or even abandoning this campaign, the league said it remained their aim to complete all remaining domestic league and cup matches.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
