BUSINESS
Property prices may witness uptick over 2-3 years
Over the past several years property prices in the key markets including the Delhi-NCR have declined significantly owing to several disruptions to the market. According to an ICICI Securities report, the possible rise in prices over the next few years may remain in the single digit per year,
ONGC's plan to merge refining subsidiary MRPL with HPCL gets delayed
The process is now expected to be completed by FY24 as ONGC's plan to consolidate its refining and petrochemicals business around MRPL first itself is taking a lot of time, government sources privy to the development said. The proposed merger would only follow this consolidation exercise.
Maruti Suzuki hikes prices of select models
In a regulatory filing, the company attributed the decision to an increase in input costs. "With effect from September 6, the company announced a price change for select models owing to increase in various input costs," it said. The weighted average price increase in ex-showroom prices (Delhi) across select models is 1.9 percent.
New Highs: Sensex hits 58,500; RIL shares surge
Sensex has touched a fresh high of 58,515.85 points and the Nifty50 on the National Stock Exchange 17,429.55 points. Around 10.15 a.m., Sensex was trading at 58,421.04, higher by 291.09 points or 0.50 per cent from its previous close of 58,129.95 points. Around 10.15 a.m., Sensex was trading at 58,421.04, higher by 291.09 points.
SII paid Rs 3,000 cr for 50% stake in SCHOTT Kaisha
IANS has learned that of the Rs 3,000 crore, Rs 1,500 crore each went to the two promoters, Dadachanji and Mistry. Earlier, while the deal was announced on August 17, the amount was not disclosed. When contacted, SII responded by saying "no comments".
Top MFs log 8-16% growth in AUM so far in 2021
Data from primemfdatabase.com showed that the AUMs of the other major players HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, and Nippon India Mutual Fund stood at around Rs 4,37,093 crore, Rs 4,34,180 crore, Rs 2,58,416 crore and Rs 2,57,544 crore, respectively, higher by 8.5 per cent, 9.4 per cent, 13.4 per cent, and 16.3 per cent from their respective AUMs in December 2020.
Home buyers' body seeks withdrawal of extended construction timelines
In a letter to the ministry, the FPCE said that RERA authorities are randomly giving blanket extensions even when there was no work stoppage nor complete lockdown announced either by the Centre or by any state government. "The states of Maharashtra, UP, and Karnataka have recklessly, in blatant disregard to home buyer rights, have given another extension to the real estate projects," it said.
Nifty surges nearly 20% since Covid's 2nd wave blues in April
The country's financial capital, Mumbai, which houses the bellwether stock exchanges, came under a curfew from April 14 due to the surging number of Covid cases. Delhi was also put under lockdown starting April 20. However, the Nifty50 has risen 19.4 per cent since its closing level of 14,504.80 points on April 13, 2021. On Friday, the Nifty closed at 17,323.60 points, its highest-ever closing level.
Atal Pension Yojana dominant social security scheme
As of fiscal 2021, NPS had 4.2 crore registered users or subscribers. The annual report of National Pension System Trust said that APY has over 66 per cent of subscribers, or 2.8 crore permanent retirement account numbers (PRAN). State Government Scheme (SG) ranks second with 11 per cent share. Age-wise analysis of NPS subscribers show 85 per cent in the 18-40-year age bracket in fiscal 2021.
EPF contribution of over Rs 2.5 lakh now requires 2 PF accounts
Finance Minister Nirmala Sitharaman had announced, in this year's budget, that PF contribution of more than Rs 2.5 lakh in a fiscal will be taxable. In line with the decision, recently, the Central Board of Direct Taxes (CBDT) notified the rules for taxation of the interest on the excess EPF contributions.
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