Rajapalayam Mills resumes Mill operations in Tamil Nadu

The operations of its Mills were stopped from May 24, as per guidelines from the Government of Tamil Nadu in order to prevent and contain the spread of Covid-19.

from India Infoline News Service https://ift.tt/3g2KmB5

Axis Bank allots over 2.92 lakh equity shares under ESOP Scheme

The current market cap of the company is Rs2,29,922.78cr.

from India Infoline News Service https://ift.tt/3fWy0uh

Prakash Industries net sales increases 59% to Rs1,032cr led by robust performance

The Company has expanded the installed capacity in its SMS division by commissioning 2 nos. new energy efficient Induction Furnaces.

from India Infoline News Service https://ift.tt/34GIhVX

India's factory activity growth slipped in May as demand fell: PMI

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34AddY6

Why a stimulus can’t wait: Second wave has created massive uncertainty. Only answer is massive spending

Four months after Sitharaman’s best budget, the worst sort of uncertainty confronts every economic decision-maker, from migrant workers to middle class professionals to maharajas of India Inc.

from Economy-News-Economic Times https://ift.tt/3wN44Yd
via

Promoters restructuring holding entities to LLP to escape from RBI could face tax trouble

High net worth individuals looking to convert their investment holding entities into limited liability partnership firms to avoid Reserve Bank of India scrutiny may run into tax trouble.

from Economy-News-Economic Times https://ift.tt/3vEKnSi
via

Kolte-Patil Q4 net profit at Rs20.9cr, sales surge to Rs296cr; Stock up 1%

The company reports the highest quarterly sales volumes in last six years in Q4FY21, at 0.85 msf, up 53% qoq.

from India Infoline News Service https://ift.tt/2SOAQtu

Glenmark Pharmaceuticals launches Rufinamide Tablets; Stock jumps 2%

Glenmarks current portfolio consists of 172 products authorized for distribution in the U.S. marketplace.

from India Infoline News Service https://ift.tt/3caiZnk

MAN Industries gains over 2.5% on strong and consistent performance in Q4 earnings

Q4 PAT more than doubles to Rs25.9cr. Total income at Rs557.3cr compared to 670.9cr, a decline of 17% yoy.

from India Infoline News Service https://ift.tt/2RXtnIc

Markets trade bullish; Sensex tops 266 pts; Nifty above 15,600; Auto outperforms ahead of monthly sales data

BSE Auto index gained 215.75 points in the early morning trade ahead of auto sales numbers for the month of May.

from India Infoline News Service https://ift.tt/3c5qaNE

Aarvee Denims & Exports to sell 9 windmills with aggregate capacity of 13.5 MW

The said windmills are not encumbered or charged to any banks.

from India Infoline News Service https://ift.tt/3uG4FJP

Mastek appoints Arun Agarwal as Global Chief Financial Officer

Arun Agarwal has immensely contributed to the growth of Mastek as an integral member of Finance function over last 5 years.

from India Infoline News Service https://ift.tt/3i3cTJn

Eight core industries' output grows 56.1% in April 2021

The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

from India Infoline News Service https://ift.tt/3fIg1sJ

View: How to build a great firewall with Indian characteristics

The bigger concern for India is not that India is taking a leaf from Brazil’s playbook, but that it’s dragging the country backward to the China of 2006. That’s when Beijing was powering up The Great Firewall, a project that would prevent outside information from flowing into the nation and allow authorities to control what was shared internally.

from Economy-News-Economic Times https://ift.tt/2RPZ1HP
via

Gasoline now costs almost twice as much in Mumbai than New York

Gasoline prices in India’s financial capital of Mumbai have risen past the 100-rupee-a-liter mark for the first time ever, among the costliest in the country and almost twice the price in New York.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3wS1PTH

Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

from India Infoline News Service https://ift.tt/3c7FadY

SGX Nifty indicates positive opening for Indian markets

Asian markets opened with gains even as the Japanese Nikkei traded flat while the South Korean Kospi & the Taiwan market extended gains.

from India Infoline News Service https://ift.tt/3g2nDVC

Top stocks in focus: Asian Granito, Allied Digital Services, Honeywell Automation, Narayana Hrudayalaya, ITC

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

from India Infoline News Service https://ift.tt/3c58BNC

View: South Asia should pay attention to its standout star -- Bangladesh

India — eternally confident about being the only South Asian economy that matters — now must grapple with the fact that it, too, is poorer than Bangladesh in per capita terms. India’s per capita income in 2020-21 was a mere $1,947.

from Economy-News-Economic Times https://ift.tt/2SLrIFW
via

RBI slams foreign banks on data rule

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3p7QRXd

Economic impact of 2nd wave won’t be significant: CEA

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3uFEfI9

At 9.2%, fiscal deficit is highest ever for Centre

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34wNIXC

Circular that bars crypto not valid: RBI

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3p6AIBv

Asian markets mixed; China's manufacturing PMI hits 51.0 in May

The Shanghai Composite shedding about 0.5% while the Shenzhen Component dipped fractionally and Hong Kongs Hang Seng index fell 0.47%.

from India Infoline News Service https://ift.tt/2SLTGkY

KDDL reappoints Sanjeev Masown as Whole-time Director for 3 years tenure

Sanjeev Masown is an Executive Director of our Company since 2016, KDDL said in the filing.

from India Infoline News Service https://ift.tt/2R4IXRW

Petrol prices continue to soar above Rs 100 in Mumbai, Bhopal

Fuel prices have touched an all-time high after Monday's fresh hike.Petrol continued to cost more than Rs 100 in parts of Mumbai and Bhopal. Petrol in Mumbai stood at Rs 100.47 per litre and diesel at Rs 92.45 per litre.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3p27dAQ

Bannari Amman and Shiva Mills resume operations of Spinning units in Tamil Nadu

The companies had closed their registered offices on May 10 followed by the closure of Spinning Units in compliance with directives issued by the Government of Tamil Nadu.

from India Infoline News Service https://ift.tt/3vBaz07

Advanced Enzyme Technologies board approves additional 15% stake acquisition in JC Biotech

JCB is engaged in the business of manufacturing and sales of Bio Pharmaceuticals through the process of aerobic fermentation.

from India Infoline News Service https://ift.tt/34uynXy

Markets witness volatility ahead of GDP data; Auto stocks underperform; M&M, Tata Motors drag; ITC shines

In the opening bell, Sensex has tumbled to an intraday low of 51,179.94, while Nifty 50 slipped to the day's low of 15,374.

from India Infoline News Service https://ift.tt/2SJ1oME

Divis Lab hits record high after consolidated Q4 profit rises 29% yoy to Rs502cr

The Pharma company earns revenue of Rs7032cr for FY21 on a consolidated basis.

from India Infoline News Service https://ift.tt/3fyhHEM

International Combustion (India) temporarily suspends operations in West Bengal amid Covid lockdown

The Registered-cum-Corporate Office of the Company has also been observing physical lockdown.

from India Infoline News Service https://ift.tt/3p3eJeG

TCPL Packaging total income increases 15.6% to Rs247cr in Q4 results; Stock soars 3%

EBITDA stood at Rs36cr, with margins strong at 14.6%.

from India Infoline News Service https://ift.tt/3fQF1wA

Salasar Techno bags contract worth Rs55cr from ITI Bangalore; Stock zooms 4%

The project holds national importance to construct telecom towers for boosting the communication network of defence forces.

from India Infoline News Service https://ift.tt/3iaMUjn

Remdesivir production ramped up ten times: Mansukh Mandaviya

Government of India has also decided to procure 50 lakh vials of Remdesivir to maintain it as a strategic stock for the emergency requirement, Mandaviya added.

from India Infoline News Service https://ift.tt/3pgQWIx

Big boost for Khadi artisans with Rs45cr govt purchase orders to KVIC during 2nd Covid-19 lockdown

The purchase orders have come from the Ministry of Tribal Affairs, Indian Railways and Air India.

from India Infoline News Service https://ift.tt/3uAcyk6

IREDA registers record profit in Covid affected year; PAT rises 61%

The CMD lauded the dedicated team of employees of IREDA for their commitment and efforts that made the high level of results possible.

from India Infoline News Service https://ift.tt/3vDqD1h

Important results today: Aurobindo Pharma, Chemcon Speciality, Shilpa Medicare, Kolte-Patil Developers

JBF Industries, Karda Constructions, Kolte-Patil Developers, Lasa Supergenerics, Lloyds Steels Industries, Magma Fincorp will release quarterly earnings today.

from India Infoline News Service https://ift.tt/3fAHhJy

Most family-owned companies remain bullish on FY22

The worry about economic uncertainty notwithstanding, Indian family-owned businesses are upbeat about their prospects in 2021-22. In a study of over 100 family-owned businesses by Executive Access India, conducted exclusively for TOI, 64% companies said they are optimistic in their outlook for the current financial year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34u9Xxm

US imports rare Iranian oil in March despite sanctions: Report

The United States imported a rare cargo of 1.033 million barrels of Iranian crude in March despite sanctions on Iran's energy sector, data from the US Energy Information Administration showed.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SFdHJU

Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

from India Infoline News Service https://ift.tt/3c5W6Sa

SGX Nifty indicates flat to negative opening for Indian markets

Asian markets opened mixed with the Japanese Nikkei seeing profit booking after a superb Friday & trading lower by 150 points.

from India Infoline News Service https://ift.tt/34w36U3

Top stocks in focus: Divis Lab, Affle, Fortis Healthcare, Bank of Baroda, Auro Pharma

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

from India Infoline News Service https://ift.tt/3vOjGuF

Covid-19: Let Budget schemes kick in before asking about stimulus, says finance minister Nirmala Sitharaman

Finance minister Nirmala Sitharaman has said that there is no need to rush with an immediate stimulus in response to the Covid second wave as Budget announcements, including on spending, are yet to fully seep into the economy with just two months of the financial year having passed.

from Economy-News-Economic Times https://ift.tt/3p8l2xM
via

Govt extends credit cover lending facility to airlines

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3vBYiIR

Wearable devices log record growth of 170% in March quarter

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3c34bqC

Delhivery raises $270 million in pre-IPO round

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Ram5AG

Let Budget schemes kick in before asking about stimulus: Sitharaman

Finance minister Nirmala Sitharaman has said that there is no need to rush with an immediate stimulus in response to the Covid second wave as Budget announcements, including on spending, are yet to fully seep into the economy with just two months of the financial year having passed.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3fzyo2C

Covid treatment: Banks offer unsecured loans of up to 5 lakh

Banks will offer off-the-shelf unsecured loans of up to Rs 5 lakh to individuals for Covid treatment, and business loans up to Rs 100 crore for setting up healthcare facilities. The launch of the new schemes was announced by SBI chairman Dinesh Khara and Indian Banks’ Association chairman Rajkiran Rai on Sunday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SCd2J4

HCL to donate quality seeds to 20k farmers in Hardoi, Lucknow ahead of kharif sowing

Apart from seeds, the company is also ensuring that timely and sufficient supply of other agri-inputs like fertilisers and pesticides are made available for sale at the Hardoi Kisan Farmers' Producers' Organisation, it said.

from Economy-News-Economic Times https://ift.tt/3i5pM5M
via

RBI's new norms to help enhance audit quality, transparency, add value: Experts

In April, the Reserve Bank issued a circular putting in place the new norms for appointment of statutory central auditors and statutory auditors for commercial banks, large urban co-operatives and large non-banks and housing finance companies.

from Economy-News-Economic Times https://ift.tt/3uwwx2V
via

Neem-coated fertiliser helped reduce use of chemicals, raise crop yields: Gowda

"100 per cent neem-coated urea introduced in 2015-16 has helped reduce the use of chemicals, improved soil health, reduced pest and disease attack and increased yield," the minister tweeted.

from Economy-News-Economic Times https://ift.tt/3i9Fv3P
via

Government may lift restrictions on oxygen use for some priority industries in 2-3 days

​​ To make oxygen available to more people during the peak of the second wave of COVID-19, the Centre on April 25 had barred the use of liquid oxygen for any non-medical purpose and asked manufacturing units to maximise its production and make it available to the government for medical use.

from Economy-News-Economic Times https://ift.tt/3c4bYER
via

FDI in computer software, hardware jumps threefold to $26.14 billion in 2020-21: DPIIT data

The computer software and hardware sector accounted for about 43 per cent in the total $59.63 billion foreign inflows that India attracted in 2020-21.

from Economy-News-Economic Times https://ift.tt/3yS7Txk
via

COVID-19: Labour ministry announces additional benefits under EPFO, ESIC schemes

These benefits include pension for dependents of insured persons with Employees' State Insurance Corporation (ESIC) who died due to COVID-19 and hike in maximum sum assured under the group insurance scheme Employees' Deposit Linked Insurance Scheme (EDLI), run by Employees' Provident Fund Organisation (EPFO), to Rs 7 lakh from Rs 6 lakh.

from Economy-News-Economic Times https://ift.tt/3vMCgTy
via

Centre expands Emergency Credit Line Guarantee Scheme

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SJzMqo

Centre's FY22 GST compensation amount should be higher than projected Rs 1.58 lakh crore: Opp-ruled states

Finance ministers of Kerala, Punjab and Chhattisgarh said there was no consensus regarding the compensation requirement in 2021-22 in the May 28 GST Council meeting and a special session would be called only to discuss 'Revenue Augmentation and Post June 2022 compensation'.

from Economy-News-Economic Times https://ift.tt/3c0epYQ
via

Banks begin process of restructuring of loans up to Rs 25 crore

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3uDyN8C

GST compliance relaxations, late fee rationalisation to help small taxpayers

For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.

from Economy-News-Economic Times https://ift.tt/3uypoiO
via

RBI likely to retain benchmark interest rate on Friday, feel experts

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3fTXbO6

DoT to ask telcos to test 5G in rural areas also, MTNL may join trial soon

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SDOFuv

ECLGS 4.0 to cover on site oxygen generation plants

“The modifications in ECLGS, would enhance the utility and impact of ECLGS by providing additional support to MSMEs, safeguarding livelihoods and helping in seamless resumption of business activity,” the ministry noted in its statement adding that these changes will further facilitate flow of institutional credit at reasonable terms.

from Economy-News-Economic Times https://ift.tt/3p5lvAQ
via

Rs 3 lakh crore loan guarantee scheme expanded to help small businesses recover from second Covid shock

According to the proposal, the Central government may look at permitting small businesses to borrow an extra 30 per cent of their credit limit. This is a sizeable bump-up from the 20 per cent announced last year.

from Economy-News-Economic Times https://ift.tt/3c68vp5
via

470 infra projects show cost overruns worth Rs 4.38 lakh crore

The average time overrun is 45.63 months. Reasons for time overruns as reported by various project implementing agencies include delay in land acquisition, delay in obtaining forest and environment clearances, and lack of infrastructure support and linkages.

from Economy-News-Economic Times https://ift.tt/3fO4cQc
via

Dependants of Covid victims to get pension, other benefits

Prime Minister Narendra Modi said these steps will help mitigate financial difficulties faced by these families. “Family Pension under ESIC and EPFOEmployees’ Deposit Linked Insurance Scheme will provide a financial cushion to those families who have lost their earning member due to Covid-19. GOI stands in solidarity with these families,” he tweeted.

from Economy-News-Economic Times https://ift.tt/3wG4wYg
via

ET Poll: FY21 GDP growth may have got a Q4 booster shot

“We peg the GDP growth for the just-concluded quarter at 2%, suggesting that the double-dip recession implied for Q4 FY2021 by the NSO’s second advance estimates for FY2021, was averted,” said Aditi Nayar, chief economist at ICRA. GDP grew 0.4% in the December quarter.

from Economy-News-Economic Times https://ift.tt/3p17O5T
via

Govt forms GoM to cut tax on Covid treatment

The eight-member panel, to be headed by Meghalaya chief minister Conrad Sangma, will submit its report by June 8, the finance ministry said in an office memorandum issued Saturday.

from Economy-News-Economic Times https://ift.tt/3uwH4va
via

Second Covid wave: Govt's decision to carry on with infra projects & its impact on thousands of workers

Government decision to carry on with core sector projects at the peak of the second Covid wave has been a boon and a bane: it saved the livelihoods of millions but thousands of workers fell sick and many died at project sites.

from Economy-News-Economic Times https://ift.tt/3fV2Nrh
via

Assam govt to engage Project Management Consultants for projects, worth above Rs 100 cr

In a meeting with the senior officials of PWD (Building) and Health Department, Chief Minister Himanta Biswa Sarma took a review of several infrastructure projects and directed to fast track the implementation process.

from Economy-News-Economic Times https://ift.tt/3uyF4SQ
via

GoM to look into GST rates of Covid vaccine, drugs and related items set up

Tax rates on vaccines, drugs, medicines, Covid testing kits, medical grade oxygen, pulse oximeters, hand sanitizers, oxygen concentrators, generators, ventilators, PPE kits, N 95 masks, surgical masks, temperature checking equipment and any other item required for Covid relief, will be recommended by the group of ministers.

from Economy-News-Economic Times https://ift.tt/3g9F32X
via

Industry demands zero tax rate on medical devices

Industry chambers on Saturday said the GST amnesty of reducing late fees for delayed monthly return filing will provide some relief to small taxpayers, and demanded complete waiver of the late fees and interest.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3c3hvLM

Virus fear speeds up gold buyers’ shift to chain stores

The world’s worst coronavirus outbreak is changing the way Indians buy gold, hastening a shift to modern, retail stores. While buyers have been slowly shifting away from the thousands of family-run jewelry shops that control the bulk of the world’s second-biggest gold market, the pandemic has sped up the process, according to Ramesh Kalyanaraman, executive director at Kalyan Jewellers India Ltd.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34tP9pW

CEO pay rises again with typical package at $12.7m

As Covid-19 ravaged the world last year, CEOs' big pay packages seemed to be under as much threat as everything else. Fortunately for those CEOs, many had boards of directors willing to see the pandemic as an extraordinary event beyond their control.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3bZ1iqH

Petitions filed in SC seeking contempt proceedings against RBI governor

A number of petitions have been filed before the Supreme Court seeking to initiate contempt of court proceedings against Reserve Bank of India (RBI) governor Shaktikant Das, Chief Executive of Indian Banks Association (IBA) and others for allegedly flouting the SC's earlier order, by turning and declaring the account of the petitioners as Non Performing Assets (NPA) in connection with the moratorium matter.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3wIzFtY

Dominica Court extends stay on Mehul Choksi's deportation

The Eastern Caribbean Supreme Court (ECSC) on Friday, after taking note of submissions made in the Mehul Choksi's hebeas corpus petition, restrained Dominican authorities from removing the fugitive diamantaire from the Commonwealth of Dominica until further hearing in the matter.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34sE7B5

Vistara receives first purchased A320neo aircraft

Vistara on Saturday received its first purchased A320neo aircraft, powered by CFM International's LEAP engines, in Delhi from Airbus' production facility in Toulouse, France. This will be the 46th aircraft to be added to its fleet. Out of 46, 43 are on lease while the rest have been purchased.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3uwWsHR

M&M expects car sales to take two years to rebound

Mahindra & Mahindra expects it will take at least another two years for car sales to return to their pre-pandemic peaks, but a slow pace of vaccinations could hurt recovery prospects, its chief told Reuters in an interview. Battered by the pandemic in 2020 and an economic slowdown in 2019, passenger vehicle sales in India fell to 2.7 million units in the last fiscal year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3uxvMXw

'Late fee relief to non-filers of GST returns to help small biz'

The rationalisation of late fees for delayed filing of monthly GST returns will give relief to small businesses and add to the government revenue, according to tax experts.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3p0wJ9u

Petrol, diesel prices hit all-time high across the country

Petrol price on Saturday crossed the Rs 100-a-litre mark in Mumbai after the 15th increase in fuel prices this month. Petrol price was increased by 26 paise per litre and diesel by 28 paise a litre, according to a price notification of state-owned fuel retailers.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3yQdO62

ICAI chief backs RBI on new audit rules

In the tussle between foreign and Indian firms over auditing bank accounts, the Institute of Chartered Accountants of India (ICAI) president Nihar Jambusaria has backed the RBI’s new norms and said there is no dearth of entities to perform the task credibly.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2R3f8kT