BUSINESS
Sensex falls below 65K mark as heavyweights under selling pressure
BSE Sensex is trading at 64,944 points in afternoon trade.
Export-led Indian automotive industry could reach $1 tn by 2035
It has the potential to unlock $400 billion of incremental revenues by 2035 (over and above $600 billion as-is-trajectory) by focusing on exports, innovation and technology transforming India into a global automotive hub, according to the report by management consulting firm Arthur D. Little.
Indian-American CEO agrees to pay $20 mn to settle kickback allegations
The government alleged that, from at least August 2015 through May 2020, the specialty pharmacy that offers drugs and infusion services, routinely waived the copayments of Medicare and TRICARE patients to induce those patients to purchase its drugs and services.
Bajaj Allianz gets Rs 1,010 crore GST demand notice
Bajaj Finserv said that Bajaj Allianz General Insurance Company, an unlisted material subsidiary of the company, has received a show-cause cum demand notice from the Directorate General of GST Intelligence, Pune Zonal Unit, under Section 73(1) of the Central Goods and Services Tax Act, 2017 (the Act) on 29 September alleging a tax demand of Rs 1010,05,80,540.
Maruti Suzuki gets Income Tax Dept order to pay up Rs 2,159cr
The draft assessment order dated October 3 is for the financial year 2019-20, the auto major said.
India’s services exports go up 8.4% to $28.72 bn in August
This comes as welcome news as data released by the Commerce and Industry Ministry last month based on an estimate had pegged services exports at $26.39 billion in August, which was a marginal decline from the corresponding figure of $26.5 billion for August 2022.
Suzlon shares hit new 52-week high
Suzlon shares are having a remarkable run in the last one year after it had hit a low of Rs 6.6 in October last year.
Coal production rose 16% year-on-year to 67.21 mn tonnes in Sep
The production of Coal India Limited (CIL) rose to 51.44 million tonnes in September 2023 as against 45.67 million tonnes in September 2022, thus recording a growth of 12.63 per cent.
Short-term trend of Nifty continues to be negative
On Tuesday, Nifty 50 closed with a loss of 110 points, or 0.56 per cent, at 19,528.75.
IT services growth rate is among the slowest over last decade
The softness seen in Q1 should continue across the board with no meaningful signs of recovery or deterioration in Q2. Our IT Services coverage universe should report a median revenue growth of 1.5 per cent QoQ/5.7 per cent YoY in 2QFY24, the report said.
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