Upcoming budget could consider levying TDS/TCS on crypto trading
Sun, Jan 16, 2022 3:36 PM

Upcoming budget could consider levying TDS/TCS on crypto trading

In the upcoming budget, the government could consider levying TDS/TCS on the sale and purchase of cryptocurrencies above a certain threshold. Nangia Andersen LLP Tax Leader Aravind Srivatsan says such transactions should be brought within the ambit of specified transactions for the purpose of reporting to income tax authorities.

Open Flip
Mercedes-Benz eyes revving sales of EVs in India
Sun, Jan 16, 2022 3:32 PM

Mercedes-Benz eyes revving sales of EVs in India

Luxury carmaker Mercedes-Benz exploring ways to leverage sales of electric vehicles in the country. It's a part of its plans to locally assemble its all-electric sedan EQS in India. The EQS will be launched in the fourth quarter of 2022 and it will be assembled at the company's plant at Chakan in Maharashtra. "It is a car with completely different characteristics, the spokesperson said.

Open Flip
Fintech firms wants added liberalization of tax regime in Budget
Sun, Jan 16, 2022 3:22 PM

Fintech firms wants added liberalization of tax regime in Budget

Finance Minister Nirmala Sitharaman in a discussion with the fintech industry receives a request to further liberalize the tax regime for financial sector startups in the forthcoming Budget. The heated discussion cited an immense potential to promote financial inclusion and generate significant employment opportunities.

Open Flip
Markets mania 👉 GMDC 🆙 50%, Wipro and Vi tanked 🔻
Sun, Jan 16, 2022 2:29 PM

Markets mania 👉 GMDC 🆙 50%, Wipro and Vi tanked 🔻

The domestic equity markets continue to endure the bulls' pressure last week, majorly because of buying across sectors and high expectations from India Inc for the December 2021 quarter. While state-owned mining player GMDC 🆙 48% to Rs 110.45 on the expected performance improvement. Vi 🔻16% to Rs 12.75 after it decided to convert interest on dues into equity upfront.

Open Flip
Ultratech Cement Q3 revenue to rise 2.6% YoY in Q3
Sun, Jan 16, 2022 2:18 PM

Ultratech Cement Q3 revenue to rise 2.6% YoY in Q3

2.6% YoY growth expected in Ultratech Cement's revenue, 5.1% QoQ at Rs121,337 million. The growing numbers are mainly attributed to an increase in realizations (up 8.0% YoY), even as domestic volumes declined 5% on a YoY basis. On a sequential basis though realizations remained flattish (down 0.7%), while volumes grew 5.8%. Demand recovery remained subdued during the quarter.

Open Flip
Aditya Birla Fashion and Retail Ltd confront data breach on its portal
Sun, Jan 16, 2022 2:12 PM

Aditya Birla Fashion and Retail Ltd confront data breach on its portal

Aditya Birla Fashion and Retail Ltd (ABFRL) reports a data breach on its portal. While the company is investigating the incident, assures that it will have no operational or business impact on its operations. The company has engaged forensic security experts to investigate the data breach incident where over 5.4 million email addresses were released online.

Open Flip
OpenSea NFT Competitor LooksRare sees 13% rise in trading volume
Sun, Jan 16, 2022 1:59 PM

OpenSea NFT Competitor LooksRare sees 13% rise in trading volume

OpenSea continues to top the list of NFT marketplaces amid the week of the NFT market place seeing $2.1bn in NFT sales within the first 10-days of the year. However, the new release 'LooksRare (LOOKS)' has seen NFT trading volumes rocket since its 10th January launch. An attractive rewards program for NFT buyers and sellers and creators has likely contributed to the level of interest.

Open Flip
Omicron could temper the runaway rise in bond yields
Sun, Jan 16, 2022 1:31 PM

Omicron could temper the runaway rise in bond yields

Weaker growth estimates from govt's Central Statistics Office (CSO) for the fiscal year 2022, and curbs to control the Omicron could temper the runaway rise in bond yields even as a likely increase in government borrowing weighs on traders. However, economic output could get hit in Q4 despite being lower than the Street, because CSO's forecast does not factor in the fast spread of new variant.

Open Flip
FICCI demands zero customs duty on ferronickel; 12.5% import duty on steel
Sun, Jan 16, 2022 1:27 PM

FICCI demands zero customs duty on ferronickel; 12.5% import duty on steel

The industry body FICCI urged the government to reduce the basic customs duty (BCD) on ferronickel to zero ahead of the Union Budget and levy a higher duty of 12.5% on the import of stainless steel flat products. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY2022-23 on February 1, 2022.

Open Flip
Power consumption jumps 1.5% in first fortnight of January, to 49.34Bn BU
Sun, Jan 16, 2022 1:13 PM

Power consumption jumps 1.5% in first fortnight of January, to 49.34Bn BU

In the first fortnight of January, the power consumption of India grew marginally at 1.5% to 49.34 billion units (BU) against the data reported last year, indicating the impact of local restrictions imposed by states amid the third wave of COVID-19. Peak power demand met or highest supply in a day rose to 179.59 GW during January 1 to 14 this year, compared to 178.88 GW last year.

Open Flip
Sun Pharma, Lupin recall products from the world's largest medicines market
Sun, Jan 16, 2022 1:10 PM

Sun Pharma, Lupin recall products from the world's largest medicines market

Sun Pharma and Lupin are recalling products from the world's largest market for medicines, the United States for different reasons. According to USFDA, Sun Pharma is recalling 696 bottles of Pregabalin capsules (50 mg), used for the treatment of epilepsy, anxiety, and nerve pain, in the US market. Lupin is recalling 50,832 bottles of Gatifloxacin Ophthalmic Solution.

Open Flip
📢This IPO is coming Next Week❕ Save the dates Jan 19- Jan 21, 2022 🧐
Sun, Jan 16, 2022 1:00 PM

📢This IPO is coming Next Week❕ Save the dates Jan 19- Jan 21, 2022 🧐

🔎Here we list out the competitive strengths of AGS Transact IPO: 📌A leading integrated omni-channel payment and cash solutions provider. 📌Vast product portfolio, user base, and revenue stream. 📌 Produces customized in-house solutions. 📌Long-standing relationship with global technology providers i.e. Diebold Nixdorf, ACI. 📌Strong in-house infrastructure and technological assets.

Open Flip
Edifice Engineering to bring down Supertech's twin towers in Noida
Sun, Jan 16, 2022 12:56 PM

Edifice Engineering to bring down Supertech's twin towers in Noida

Mumbai-based Edifice Engineering may have to take the responsibility to bring down two residential towers at Supertech's Emerald Court Society in Noida, Uttar Pradesh. This decision came 5 months after the Supreme Court ordered its demolition. The towers—Apex and Ceyane—were found to be built in violation of law and declared unauthorized.

Open Flip
Metro Brands net profit grew 54.6% in Q3 to Rs 100.85 cr
Sun, Jan 16, 2022 12:22 PM

Metro Brands net profit grew 54.6% in Q3 to Rs 100.85 cr

Metro Brands registered a 54.63% increase in its consolidated net profit to Rs 100.85 crore for the third quarter ended December 2021. The footwear retail chain posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal. The company's total expenses rose 47.26% to Rs 362.59 crore in Q3 FY 2021-22, compared to Rs 246.21 crore in the year-ago period.

Open Flip
Oil India sells 20% US shale venture stake for USD 25 mn
Sun, Jan 16, 2022 12:09 PM

Oil India sells 20% US shale venture stake for USD 25 mn

State-owned Oil India Ltd (OIL) has sold a 20% stake of the US shale oil venture to its venture partner for USD 25 million. US shale business witnessed the second exit of an Indian firm in just two months. OIL and Indian Oil Corporation (IOC) had together in October 2012 bought a 30% stake in Houston-based Carrizo Oil & Gas’s Niobrara shale asset in Colorado for USD 82.5 million.

Open Flip

Join our Smart Investment Community

More than 450,000 users are using FlipItNews to stay updated about the business and finance world! Join FlipItNews now and take smart investment decisions!
Icon