BUSINESS
Commercial LPG cylinder prices cut by Rs 99.75 with effect from today
The revised prices are effective from Tuesday onwards. After the reduction in prices, a commercial LPG cylinder will now cost Rs 1,680 in Delhi. The previous revision in prices of a 19 kg commercial LPG cylinder was done last month. Prices though differ from state to state, due to different tax slabs.
Crypto influencer sued for buying sports cars, rare diamond with investors’ money
“Heart called on investors to buy crypto asset securities in offerings that he failed to register. He then defrauded those investors by spending some of their crypto assets on exorbitant luxury goods,” Eric Werner, Director of the Fort Worth Regional Office said in a statement.
Market rally is stretching valuations beyond comfort levels, say analysts
The resilience of the US market, where the rally is spreading to the broader market, is supporting global markets. But the rally is stretching valuations beyond comfort levels, he said. The FY24 Q1 earnings growth is muted except in banking and refineries. Results indicate that rural demand is yet to pick up in a meaningful manner, he said.
Zomato hires chief fitness officer as CEO Deepinder Goyal loses 15 kg
Zomato CEO Deepinder Goyal announced the appointment of Anmol Gupta as the company’s first-ever Chief Fitness Officer. “I am looking forward to working with him to transform the way people think about work. Going forward, we are going to invest heartily behind the wellbeing of our employees, our delivery partners and our restaurant partners,” Goyal said in a tweet.
Maruti Suzuki at cusp of market share recovery after 2 yrs of market share loss
Recently introduced Jimny, Fronx and Invicto have received good customer response. Pending order book for Brezza, GV, Jimny, Fronx, Invicto, Eritga stands at 48k/27k/23k/22k/8k/93k units, respectively. Backed by recent SUV launches, the company has regained leadership position in SUV segment during 1QFY24, the report said.
India's core sector output rises 8.2% in June
The production of all other industries, namely, steel, coal, cement, refinery products, natural gas, fertilisers, and electricity, went up in June 2023, according to data released by the Commerce Ministry. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
GST evasion cases rose 23.5% in 2 years, 166% rise in detection in value terms
As per Finance Ministry data, in 2020-21, as many as 12,596 cases of GST evasion were detected, while in 2022-23, the cases rose by 23.5 per cent to 15,562. Also, in 2020-21, Rs 49,384 crore worth of GST evasion was detected, which rose by a humungous 166 per cent to Rs 1,31,613 crore in 2022-23.
DGCA greenlights Air India, IndiGo's aircraft imports
Minister of State for Civil Aviation, Gen V.K. Singh (retd), in a written reply, told the Rajya Sabha that the details of the aircraft approved for import by the DGCA are enclosed as an annexure, but information regarding the cost of acquisition of these aircraft, being of commercial nature between the airline and the Original Equipment Manufacturers (OEMs), is not available.
Government hikes windfall tax on crude petroleum, diesel; applicable from August 1
It has also increased the windfall tax on diesel to Re.1 per litre from zero. According to a gazette notification, these changes will come into effect from August 1 onwards. The windfall tax on petrol however will continue to be at ‘nil’, the notification said. Similarly, SAED on jet fuel or aviation turbine fuel (ATF) will also continue to be at ‘nil’.
Walmart buys Tiger Global’s remaining Flipkart stake for $1.4 bn
Walmart purchased Tiger Global’s remaining holding in Flipkart to further cement its control of the Indian e-commerce giant.
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