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Finance Minister Nirmala Sitharaman made five significant announcements regarding personal income tax to help the hard-working middle class. Although the new tax system would be the default, taxpayers could choose the previous one instead. In the new tax system, Sitharaman suggested increasing the rebate cap from Rs. 5 lakh to Rs. 7 lakh. Therefore, up […]
The Indian government presented its Union Budget 2023 on Thursday, with Finance Minister Nirmala Sitharaman announcing significant changes to the income tax regime and increased allocations for health, education, and rural projects. The budget aims to reduce the fiscal deficit while supporting an economy affected by the global slowdown. In a move aimed at providing […]
The Rs 20,000 crore share sale of Adani group’s flagship firm was fully subscribed on Tuesday after non-retail investors bid in big volumes, according to stock exchange data. As many as 4.62 crore shares were sought as against an offer of 4.55 crore. According to BSE data, Non-institutional investors put in bids for over three […]
Finance Minister Nirmala Sitharaman tabled the Economic Survey 2022–23 in the Lok Sabha on Tuesday. According to the Economic Survey, the economy has nearly recovered what was lost, restarted what had stalled, and re-energized what had slowed during the pandemic. India is the third-largest economy in the world in PPP (purchasing power parity) terms, the […]
International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, announced today that it would invest AED 1.4 billion (USD 400 million) through its subsidiary Green Transmission Investment Holding RSC Limited in the Adani Enterprises Further Public Offering (FPO), the Indian multinational publicly listed holding company and a part of Adani Group. IHC’s first investment […]
Life Insurance Corporation said on Monday that its exposure in the Adani Group is 0.97 per cent of its total assets under management at book value. LIC’s AUM( Assets Under Management) was Rs 41.66 lakh crore at the end of September last year. LIC stated in the statement that “LIC’s total holding in Adani Group […]
Rays Power Infra has signed an agreement with the Rajasthan government to construct a 1,800 MW solar park. The entire project is estimated to be worth Rs 9,140 crore. The company said in a statement that “In accordance with India’s far-reaching goal of converting existing fossil-fuel energy generation into renewable energy output, the Solar Park […]
Gujarat’s semiconductor landscape is set to grow even larger and better following a $20 billion investment commitment by Vedanta-Foxconn, a joint venture between the Vedanta Group and Taiwanese chipmaker Foxconn. For a period of ten years, the government will provide subsidies for land acquisition, capital investment, stamp duty refunds, fixed water tariffs, and electricity tariff […]
Shares of Adani group companies witnessed mixed trends in early trade on Monday, with flagship Adani Enterprises surging 10 per cent even as most of the group firms fell, a day after it released a 413-page response to allegations of wrongdoing brought by a United States-based short seller, Hindenburg Research. Four of the Adani Group […]
Gautam Adani, the richest man in Asia and India, had a significant decline in his fortune on Friday, as he dropped to seventh place on the global rich list. Adani’s wealth decreased by more than $22.5 billion to $96.8 billion over the day, based on the Forbes Real Times Billionaire Index. On the rich list, […]
After the US-based investment research firm Hindenburg Research made damaging allegations, the Adani group stocks fell up to 20 percent in morning trade on Friday. Shares of Adani Total Gas plummeted 19.65 percent, Adani Transmission tumbled 19 percent, Adani Green Energy plunged 15.50 percent and Adani Enterprises tanked 6.19 percent on the BSE. Also, Adani […]
Indian gold hit a fresh all-time high on Tuesday, tracking gains in overseas markets and a depreciation in the rupee currency, but the surge dampened demand in the world’s second biggest consumer of the precious metal, dealers said. Domestic gold futures rose to Rs 57,099 ($699.19) per 10 grams, up nearly 4% so far in […]
Zomato CEO Deepinder Goyal announced on LinkedIn that the business is considering employing roughly 800 people across five jobs, including engineers, product managers, growth managers, and others. This is in contrast to recent layoffs at major global digital companies. Five job openings have been listed by the CEO of the food aggregator company on his […]
Adani Enterprises is planning to enter the capital markets on 27 January with a Rs 20,000 crore Follow Up Public Offer (FPO). The shares of face value Re 1 are being offered in a price band of Rs 3,112 to 3,276. Addressing a news conference in Ahmedabad on Wednesday, Adani Group Chief Financial Officer (CFO) Jugeshinder […]
Twitter, which is now owned by Elon Musk, has raised the monthly fee for its Blue service for Android users to $11. For the blue checkmark and early access to features, the Twitter Blue plan starts at $8 per month or $84 per year in countries where it is available. “All Twitter Blue features will […]
Swiggy is planning about making additional layoffs in light of a halt in funding. Media reports stated on Thursday that the food and grocery delivery network plans to reduce 8-10 percent of its 6,000-person workforce in order to reduce costs. Employees in the product, engineering, and operation departments are likely to be the most impacted […]
Microsoft Corp. announced on Wednesday that it would cut 10,000 positions by the end of the third quarter of fiscal 2023, the most recent indication that layoffs in the American technology sector were accelerating as businesses prepared for an economic downturn. According to Microsoft, the layoffs will result in a charge of $1.2 billion in […]
Arun Bansal, the Chief Executive Officer (CEO) of Adani Airport Holdings Ltd., remarked today that the company is highly eager about acquiring additional airports through government bidding. This is the policy agenda, but we are eager to purchase new airports, according to the CEO of Adani Airports. Bansal spoke after Assocham named Lucknow and Ahmedabad […]
Since Elon Musk took over the microblogging site last year, more than 500 of Twitter’s advertisers have stopped spending money there, according to a report on Wednesday, citing a person familiar with its advertising operations. The social media company’s daily revenue on January 17 was 40% lower than it was on the same day a […]
Aether Industries on Monday announced the commercialisation of a manufacturing site in Surat, Gujarat, to manufacture specialty chemicals. The total capital expenditure planned for the site is around Rs 190 crore. Out of the total investment for the new facility, Aether Industries has raised Rs 163 crore from the initial public offering (IPO). The IPO […]
