BUSINESS
FPIs turn net sellers in April, pull out Rs 9,659 cr from Indian equities
The reversal in trend came at a time when the surging Covid cases and the resultant lockdowns spooked investor sentiments. The FPIs turned net sellers after a gap of five months. In September, FPIs pulled out net investments worth Rs 7,783 crore. Along with the second wave of Covid-19, weakness in the Indian rupee also led to the outflow of foreign funds last month, analysts said.
Hotels' body seeks liquidity support amid 2nd wave of Covid
The industry body has also sought a complete or partial waiver of statutory expenses like property tax, lease rentals, license fee, and excise fee payable by hotels to various government authorities.
India's exports in April rise to $30.2 bn, trade deficit surges
Exports last month also recorded a 16.03 per cent growth over $26.04 billion in April 2019, said an official statement. India's merchandise imports in April 2021 were $45.45 billion, with an increase of 165.99 per cent over $17.09 billion in April 2020 and an increase of 7.22 per cent over $42.39 billion in April 2019.
AWS leads $42B global Cloud services market in Q1, Microsoft 2nd
Microsoft Azure grew 50 per cent for the third consecutive quarter, taking 19 per cent market share in Q1 2021. Google Cloud maintained its momentum, growing 56 per cent in the latest quarter to account for a 7 per cent market share, according to the report by market research firm Canalys.
April GST collection sets new record, surges over Rs 1.41L cr
The GST revenues during April 2021 are the highest since the introduction of the tax. The same feat was achieved even in March when collections at over Rs 1.23 lakh crore was the highest since introduction of GST in 2017.
Maruti Suzuki reports sales of 159,691 units in April
According to the company, total sales in the month include domestic sales of 137,151 units, sales to other OEMs at 5,303 units and exports of 17,237 units. The company had sold 632 vehicles during April 2020 and 143,245 units in 2019.
Govt further extends tax compliance timelines amid pandemic
Accordingly, the Central Board of Direct Taxes (CBDT) has now extended the time limit for filing of belated return and revised return for Assessment Year 2020-21, by two months from March 31, 2021 to May 31, 2021.
RIL's swift steps make it largest producer of medical Oxygen
Traditionally, Reliance is not a manufacturer of medical grade liquid oxygen. Yet, starting from Nil before the pandemic, the company is its largest producer in the country from a single location. At its refinery-cum-petrochemical complex in Jamnagar and other facilities, RIL now produces over 1000 MT per day - or 11 per cent of India's total production - meeting the needs of nearly every one in ten patients.
Hyundai Motor India April cumulative sales at over 59K units
Automobile manufacturer Hyundai Motor India's cumulative sales during April stood at 59,203 units. Accordingly, the company sold 49,002 units in the domestic market during the month under review. It shipped out 10,201 units to foreign countries last month.
Centre releases Rs 8,873.6 cr fund to states to fight Covid
The Finance Ministry has released an amount of Rs 8,873.6 crore in advance towards central share of the State Disaster Response Fund (SDRF) for FY22 to help states in their fight against Covid-19. The advance release of 1st instalment of central share towards SDRF has been released as a special dispensation on the recommendations of the home ministry.
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