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Measures announced by the government to give relief to micro, small and medium enterprises (MSME) to thwart the impact of the Covid-19 pandemic on their businesses are inadequate, a parliamentary panel has concluded. A standing committee report (Impact of Covid-19 Pandemic on MSME Sector and Mitigation Strategy Adopted to Counter It) was submitted by the […]
“Sorry, I cannot help you. We have got the approval as per the rates fixed by the municipal corporation. I can not change the room charges as requested,” a hospital staff member tells a lady who is being discharged after 14 days of Covid-19 treatment. “But, my problem is I am allowed room charges only […]
Income Tax Department celebrates 161 years of the introduction of income tax in India. The Income Tax Department administers direct tax laws of the country, contributing to more than 52% of the total tax revenue of the government of India. On this occasion, 1984 batch IRS officer Krishna Mohan Prasad, a member of the Central […]
Tesla Inc is eyeing Indian grounds to set up a factory, only if taxes don’t play a spoilsport. Chief Executive Elon Musk took to Twitter and expressed his thoughts when quizzed on launching Tesla cars in India. The company has written to Indian ministries seeking a reduction in import duties on electric vehicles (EV). Second […]
Despite slowing down of operations during the second wave of Covid19, Reliance Industries Limited on Friday reporter strong performance when compared on yearly basis. However, quarter on quarter the performance seems to be affected by the pandemic disruptions. The overall performance of the company was dominated by better than expected oil refining petrochemicals and telecom […]
Indian stock market closed with gains on Friday, however, it ended in the red for the week. The market continued its positive move from the previous session but failed to gain in early trade. However, buying in ICICI Bank propelled the indices higher during the day. The last hour profit booking in the index major […]
Online majors – Flipkart and Amazon – will have to go through investigations by the Competition Commission of India (CCI), a division bench of the Karnataka High Court ordered. The petition was moved by e-commerce majors against the single judge bench order that held the investigation into business practices of the two companies by the […]
Technology-driven food delivery start-up, Zomato is making its debut on the stock exchanges on Monday. The response to its Rs 9,375 crore fundraising had already indicated investors’ interest in the newer business model, despite concerns surrounding its valuations and profitability. The shares are listed at Rs115. At 10.08 am on Friday, shares are trading at […]
After three straight sessions of losses, the Indian stock market bounced back on Thursday on positive global cues with the best gains in two months. Positive global stocks, cooling crude oil and buying after a small correction were the triggers for change in the trend at the beginning of the week. Short covering in index […]
“Arvind Lifestyle Brands Limited (ALBL), a wholly-owned subsidiary of Arvind Fashions Limited (AFL), has signed definitive agreements for strategic sale of assets of its Unlimited retail business to V-Mart Retail Ltd. in an all-cash transaction,” Arvind Fashions said in a media release. As per the agreement, Arvind group will get Rs150 crore in cash post […]
Honda Motorcycle and Scooter India Pvt. Lts. (HMSI) has announced that its cumulative two-wheelers sales in Gujarat have crosses the 50 lakh units’ mark on Thursday. Honda 2Wheelers began operations with its first two-wheeler Active, in 2001 and took 15 years to gain its first 25 lakhs customers in Gujarat. Honda has now doubled its […]
GIFT City signs MoU with TASK Staffing Solutions Private Limited, an Ahmedabad-based integrated staffing solutions company for talent management in the space of international financial services on July 22. Both the companies will jointly review the need for executive recruitment, executive search, volume hiring, recruitment process outsourcing (RPO) & contract staffing for IFSC entities at […]
In the pandemic year of 2020-21, overall sales of automobiles were severely affected due to lockdown, restrictions on the opening of showrooms, and lack of demand. However, with the unlock, the demand seems to be coming back on track. However, the biggest surprise is the pick-up in hind-end or premium vehicles. After declining by half […]
The second wave of Corona was fatal, the economy was also hit badly. However, the real has bloomed during the pandemic. The increase in the real estate market has been growing much better than last year, especially in Ahmedabad. Ahmedabad’s growth is even higher than Pune, Mumbai, Bangalore in terms of house purchases, Gota, New Ranip, […]
The Israeli security firm NSO Group, known for its Pegasus malware has been used to hack phones (about 50,000 phones were hacked as per the list revealed by journalists from 17 media houses) gets shunned by AWS (Amazon Web Sevices). The move comes after the group of media outlets published NSO’s malware and phone numbers […]
Adani Group companies have denied the allegation of non-compliance with regards to the SEBI regulations. The report also referred to the DRI investigation. In this respect, the Spokesperson from the Adani Group stated: “We have always been transparent with all our regulators and have full faith in them. While we have always been fully compliant […]
Reliance Retail Ventures Limited (“RRVL”), Just Dial Limited (“Just Dial”), and VSS Mani and others, today executed definitive agreements. These include a preferential allotment of 2.12 crore equity shares (equivalent to 25.33 percent post preferential share capital) at a price per share of Rs 1,022.25; Acquisition of 1.31 crore equity shares by RRVL from VSS […]
Pidilite Industries Limited announced on Friday, July 16, that Sudhanshu Vats will join the company as Deputy Managing Director, effective from September 1, 2021. Sudhanshu Vats, an alumnus of IIM-Ahmedabad and NIT Kurukshetra, has a rich career of 30 years spanning diverse organizations like Unilever, Castrol, Viacom18 and more recently, EPL (formerly known as Essel […]
Though Gujarat and its booming pharma companies made a kill, literally in the Covid times with manufacturing and selling of several medicines and injections including Remdesivir, Fabiflu, Virafin and others, they have lost the top slot. For the first time ever, Gujarat based digital companies have overtaken the pharma sector when it comes to paying […]
Back on positive global cues and backed by banks and financial services shares, Indian benchmark indices managed to close higher after three days of losses. This is the highest single-day up move in the Sensex since May 12. At the close of Tuesday, Sensex was 52,769, up 397 points while, Nifty closed up by 119.75 […]
