BUSINESS
Microsoft Surpasses Apple, Becomes World's Most Valuable Company
In early Thursday trading, Microsoft's shares rose approximately 1%, propelling its market value to $2.87 trillion, narrowly surpassing Apple.
Infosys Announces Acquisition of InSemi, a Semiconductor Design Company, for Rs 280 Crore
In a regulatory filing, Infosys detailed the financial aspects of the deal, stating, "Consideration including earn-outs, and management incentives, and retention bonus totaling up to INR 280 crores subject to customary closing adjustments."
Steady at Rs 63,150: Gold Prices Show No Significant Change per 10 Grams
Saumil Gandhi, a senior analyst of commodities at HDFC Securities, mentioned that spot gold prices (24 carats) in Delhi markets were flat at Rs 63,150/10 grams, maintaining the same level as the previous close.
Market Closes with Slight Gains Amid Investor Focus on Q3 Performance of IT Bellwethers
The BSE Sensex, a 30-share index, eked out a 0.09% rise, adding 63.47 points to settle at 71,721.18. Earlier in the day, it had surged by 0.47% or 341.76 points, reaching 71,999.47. Meanwhile, the Nifty saw a modest gain of 0.13%, rising by 28.50 points to 21,647.20.
RBI Governor Das Remarks on Crypto Regulations: 'What is Beneficial for Another Market May Not Align with Our Interests'
Das stated firmly, "What is good for another market need not be good for us. Therefore, our views—both that of the Reserve Bank and personally that of mine—remain the same," underscoring the unique considerations and context surrounding cryptocurrency regulations in India.
Micron Targets Early 2025 for Commencement of Operations at Indian Manufacturing Unit
The first phase, encompassing 500,000 square feet of clean room space, is scheduled to be operational by early 2025. The company, headquartered in the United States, had disclosed its investment plans during Prime Minister Narendra Modi's visit to the US in June 2023.
Polycab Shares Tumble 20% Following Reports on Alleged Tax Evasion
In response to the reports, Polycab India issued a statement denying rumors of tax evasion and emphasized its commitment to compliance and transparency. The company stated that it had fully cooperated with Income Tax Department officials during the search proceedings conducted in December 2023.
Challenges Persist: Global PC Market Experiences Unprecedented Decline in 2023
This sharp downturn, considered unparalleled in the industry's recorded history, is attributed to the aftermath of the substantial surge in PC purchases driven by the COVID-19 pandemic.
Robust Growth: Direct Tax Collections Surge by 18% in the Current Fiscal Year
The net direct tax collection, excluding refunds, stands at Rs. 14.70 lakh crore, marking a substantial 19.41% surge compared to the corresponding period in the previous year. This amount accounts for 80.61% of the total Budget Estimates of Direct Taxes for the financial year 2023-24, according to the statement released by CBDT.
Reliance Industries Market Capitalization Surpasses INR 18 Trillion Milestone
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, noted that Nifty exhibited sideways trading, concluding marginally positive at 21,647 levels. This came ahead of the release of US inflation data and the commencement of the Q3FY24 earnings season on Thursday.
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