BUSINESS
FPIs may be allowed to get tax treaty benefits on dividend income
The move is expected to facilitate foreign portfolio investors (FPIs) as they will not need to claim a tax refund for surplus taxes withheld by Indian corporates, while filing their annual income-tax returns in India.
Dream run for metal segment should continue in Q4, earnings shine
According to the report on metal and mining sector by the brokerage, the current run of rising metal prices in line with demand revival in autos, white goods, infrastructure segment and trade re-stocking with lower coking coal prices should result in dream profitability for most companies that witnessed one of the worst phases during the lockdown period last year.
Boeing deliveries drop despite 737 Max's return to flight
Chicago-based Boeing still reported more cancellations than new orders for its 737 Max jet, which was grounded for 21 months after crashes in Indonesia and Ethiopia killed 346 people. The market for new planes remains depressed by the pandemic, which has devastated air travel and caused airlines to reconsider aircraft purchases. Despite the December numbers, Boeing's full-year numbers for 2020 still declined from 2019.
Sensex gives up gains to turn red, HDFC and RIL down
Decline in the heavyweights HDFC and Reliance Industries (RIL) weighed on the index. Both the Sensex and the Nifty50 on the National Stock Exchange (NSE) touched all-time high levels of 49,795.19 and 14,653.35 points. Sensex has glided over 570 points from the day's highs.
Delhivery expands India footprint, to create new jobs
It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US. The new recruitments will happen across technology, product, and data science functions by the next fiscal, the company said in a statement.
Hike in petrol, diesel rates after global oil price jump
In the national capital, petrol was sold at the new record high level of Rs 84.45 from the previous days of Rs 84.20 a litre while diesel price increased to Rs 74.63 per litre as against Rs 74.38 a litre earlier.
11 Indian firms among 500 most-valuable companies of world, country at 10th spot: Report
The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the listof non-state enterprises have gained in value during 2020, which was hit by thepandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank.
Byju’s seals the deal to acquire Blackstone-backed Aakash tutorials at $1bn
Headquartered at Bangalore, Byju’s is valued at $12 billion and and has found support from the several tech giant honchos such as Mark Zuckerberg’s Chan Zuckerberg Initiative, as well as fromTiger Global Management and Bond Capital, co-founded by Silicon Valley investor Mary Meeker.
Share Market: Sensex above 49,700, auto and telecom stocks rise
The Nifty50 on the National Stock Exchange also was above the 14,600 level. Healthy buying was witnessed in auto, telecom and oil and gas stocks. Around 10 a.m., Sensex was trading at 49,730.90, higher by 213.79 points or 0.43 per cent from its previous close of 49,517.11.
India's real GDP likely to grow by 11% in FY22: Report
The report said economic activities are slowly reaching pre-Covid levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms. However, Revival in sectors that fall under discretionary spending is likely to be delayed as the economy is still under the grasp of the pandemic.
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