Business News

GST revenue surges past Rs 1 lakh crore in economy uptick ECONOMY

GST revenue surges past Rs 1 lakh crore in economy uptick

The gross Goods and Services Tax (GST) collections in July (for sales in June) rebounded over the Rs 1-lakh-crore mark to Rs 1,16,393 crore, data released by the Finance Ministry on Sunday showed.G...
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Growth, inflation weighing, MPC may hold rates BUSINESS OTHERS

Growth, inflation weighing, MPC may hold rates

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is likely to keep key policy rates unchanged this week amid concerns over growth, inflation and the potential third Covid wave...
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Input costs, slow sales crimp India Inc profits

Input costs, slow sales crimp India Inc profits

From Biocon, Maruti Suzuki, Nestle, Dr Reddy’s Labs and TVS Motors to a host of smaller companies like Crompton Greaves and Rallis, results for Q1FY22 have barely met the Street’s expectations....
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Fertiliser sales down on erratic monsoon rains

Fertiliser sales down on erratic monsoon rains

Retail sales of fertilisers have fallen 12.4 per cent in April-July over the corresponding four months of last year. All major nutrients have posted lower sales: urea (minus 12.8 per cent), di-ammo...
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Venugopal Dhoot moves NCLAT against Twin Star’s Videocon takeover bid

Venugopal Dhoot moves NCLAT against Twin Star’s Videocon tak...

Venugopal Dhoot, former promoter of Videocon Group, has moved before the NCLAT, challenging an order of the insolvency court NCLT approving Rs 2,962 crore takeover bid by Anil Agarwal’s Twin Star...
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Fuel demand picks up in July, petrol back to pre-Covid level

Fuel demand picks up in July, petrol back to pre-Covid level

The country’s fuel demand picked up in July as easing of pandemic-related restrictions accelerated economic activity, helping petrol consumption reach pre-Covid levels, preliminary sales data sho...
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Leading auto makers post double-digit sales growth in July

Leading auto makers post double-digit sales growth in July

Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-e...
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Adani floats company for petrochemical foray

Adani floats company for petrochemical foray

Billionaire Gautam Adani’s ports-to-energy conglomerate has floated a new subsidiary that will set up refineries, petrochemical complexes and hydrogen plants – businesses that will dire...
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India’s appeal against Vodafone arbitration award in senior court, hearing in September

India’s appeal against Vodafone arbitration award in sen...

Indian government’s appeal against a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc has been transferred...
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PV sales could recover to 2019 levels, but third wave still a worry

PV sales could recover to 2019 levels, but third wave still a ...

Going by the auto sales in the first six months of calendar year 2021, auto analysts forecast that the passenger vehicle (PV) segment could touch the CY19 levels by the end of this year.Even if tha...
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Rising streak halts: Fall in currency assets pulls forex reserves down

Rising streak halts: Fall in currency assets pulls forex reser...

The forex reserves, after a steady run of gains over the past few weeks, posted a decline of $1.581 billion to slide to $611.149 billion for the week ended July 23, data from the RBI showed. In the...
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IDFC First Bank logs Rs 630-cr Q1 loss on Covid provisioning

IDFC First Bank logs Rs 630-cr Q1 loss on Covid provisioning

IDFC First Bank on Saturday reported a net loss of Rs 630 crore in the April-June quarter due to provisioning measures for cushioning the impact of the second wave of the Covid-19 pandemic.The bank...
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NTPC Q1 profit up 27.3%

NTPC Q1 profit up 27.3%

NTPC Ltd, the country’s largest power generator with an installed capacity of 66,885 MW, on Saturday posted a net profit of Rs 3,145.63 crore for the June quarter of FY22 as against Rs 2,470.16 c...
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India-suited, low cost mobile products: IT Min contest seeks ideas for prototype

India-suited, low cost mobile products: IT Min contest seeks i...

Aiming to improve indigenous designing of electronic equipment which is more suited to uses for domestic customers, the Ministry of Electronics and Information Technology has invited local companie...
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SBI waives processing fee on home loans till August-end BANKING AND FINANCE

SBI waives processing fee on home loans till August-end

The country’s largest lender State Bank of India (SBI) on Saturday announced waiving processing fee on home loans till August-end.Currently, the processing fee on home loans is 0.40 per cent....
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NTPC profit rises 17 pc to Rs 3,443 cr in Apr-Jun quarter

NTPC profit rises 17 pc to Rs 3,443 cr in Apr-Jun quarter

State-owned power giant NTPC on Saturday posted a nearly 17 per cent rise in consolidated net profit to Rs 3,443.72 crore for the April-June quarter on the back of higher revenues.The consolidated ...
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SFIO searches premises of Videocon Group cos

SFIO searches premises of Videocon Group cos

Following a government order, the SFIO conducted a three-day search operation at premises connected to the Videocon Group in at least five cities, including Delhi, Gurgaon, Mumbai, Aurangabad and A...
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June core output jumps 8.9% on low base, high natural gas, steel output

June core output jumps 8.9% on low base, high natural gas, ste...

The output of eight core sectors grew 8.9 per cent in June, mainly due to a low base effect and uptick in production of natural gas, steel, coal and electricity, official data showed on Friday.The ...
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Reform-based scheme: Discoms get till Dec 31

Reform-based scheme: Discoms get till Dec 31

Power distribution companies (discoms) looking to avail funds under the government’s Rs 3.03-lakh crore reform based scheme for discoms will have to submit plans to cut losses by the end of the c...
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IndianOil, Petronas JV to foray into fuel, natural gas retail biz

IndianOil, Petronas JV to foray into fuel, natural gas retail biz

Indianoil Petronas Private Ltd (IPPL) — a joint venture between state-owned Indian Oil Corporation (IOC) and Malaysian oil and gas company Petronas — is set to enter the fuel retailing and natu...
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Credit offtake of large cos hit, MSMEs gain on ECLGS push

Credit offtake of large cos hit, MSMEs gain on ECLGS push

Get email alerts for your favourite author. Sign up hereWith the second wave of the Covid pandemic hitting corporates’ plans, credit offtake by India Inc contracted by 0.3 per cent to Rs 28,67,30...
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