BUSINESS
Grover controversy: BharatPe says not fired any employee, audit is on
BharatPe, which is doing an independent audit of the company's internal processes and systems after the controversy erupted over Grover allegedly using inappropriate language against Kotak Mahindra Bank's staff, said that the reports suggesting any termination are baseless and untrue. "The Board remains committed to an independent and thorough audit process.
NTPC's Q3FY22 standalone net profit up over 24% YoY
The company's standalone net profit rose to Rs 4,131.99 crore during the period under review from Rs 3,315.34 crore reported for Q3FY21. Besides, the total income on standalone basis increased to Rs 29,837.13 crore from Rs 25,268.56 crore earned during the corresponding period of last fiscal. On consolidated basis, in Q3FY22, NTPC's net profit rose by 19.34 per cent to Rs 4,626.11 crore from Rs 3,876.36 crore reported.
Make investments more attractive in pharma sector: Pre-Budget survey
As per the Grant Thornton Bharat survey, a majority of those surveyed opined that the government should enhance outlay in the PLI scheme, with a focus on biopharmaceuticals and medical devices. According to Bhanu Prakash Kalmath S.J., Partner and Sector Leader - Pharma & Healthcare, Grant Thornton Bharat: "India's pharmaceutical industry has played a key role in the global fight against the pandemic."
Union Budget expected to focus on increase in limits for basic tax exemption, standard deduction
Section 16(1A) of the IT Act provides for a standard deduction of Rs 50,000 from the salary income of a taxpayer. This deduction was enhanced from Rs 40,000 to 50,000 by the Finance Act 2019 and has not been increased since then.
Biggest Factor: Union Budget FY23 to chart equities' course
The market participants are expected to track macro-data such as the Index of ECI (eight core industries), fiscal deficit numbers, and the final figures for FY21 GDP, which will be released during the trading week starting January 31.
India's power demand expected to rise by 8-10% in FY22
The brokerage house had earlier predicted a 12 per cent rise in power demand in FY22. The downward revision of demand expectation is largely due to a prolonged winter and disruptions in demand caused by the rising corona cases in January 2022.
Adani's Mundra Port handles the largest ever container vessel to call on India
APL Raffles is one of the largest vessels in the fleet of CMA CGM. Built in 2013, this 1,76,727 DWT, 17292 TEUs capacity vessel is 397.88 metre long and 51 meter wide. This is almost equivalent to four football fields. This is another important milestone for Mundra Port. In 2021, Mundra Port became the largest container port in India, and now the port has berthed, at one of its terminals, the largest container vessel to call India.
Global Woes: FIIs' pumped out $13.5 bn from Indian equity market since Oct 2021
According to the brokerage house, $13.5 billion in FIIs' outflows have taken place in the secondary markets since October 2021. "Domestic equities have also borne the brunt of rich valuations after a relentless rally post the bottom in March 2020," the brokerage house said.
"While the Nifty-50 has corrected just 8 per cent from its October 2021 peak thus far, it is hiding the stress in the broader markets."
Divestment: Budget FY23 likely to see higher target; more focus on NMP
Notably, the conclusion of the Air India divestment as well as upcoming listing of LIC is expected to prompt the Centre for a robust divestment target for FY23. Besides, the possible shifting of BPCL divestment to next fiscal and an enhanced pipeline of core and non-core assets under the NMP could significantly ramp up the revenue stream.
Qatar Airways-Airbus dispute peels away layers of 'plane' truths
The issue has fuelled a war of words between Airbus and Qatar's state carrier, which is getting ready to carry the majority of the fans who would head to the Gulf nation, which is to host the FIFA World Cup 2022 in winter -- a marquee event for the country of 2.7 million.
Don't Miss
Advertisement