BUSINESS
Ex-Pfizer employee, accomplice from India charged with insider trading in US
The SEC’s complaint, filed in a district court in New York, charged Amit Dagar and Atul Bhiwapurkar with violating the anti-fraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5.
Tomato-nomics: Tomato price may come down soon
The good news is that with the arrival of the July-November crop season, the prices may ease. “On sequential basis, the average retail price of tomato went up by 38.5 per cent in June. On wholesale basis as well, tomato price rose by 45.3 per cent in the same period,” said Dipanwita Mazumdar, Economist at Bank of Baroda, in the report.
Maruti Suzuki sold 1.59 lakh units in June, lower than April and May figures
According to Maruti Suzuki, it sold 159,418 units (domestic 136,019 units, to other vehicle makers 3,629 units and exports 19,770 units) up from 155,857 units (domestic 125,710 units, to other vehicle makers 6,314 units and exports 23,833 units) sold in June, 2022.
GST collections rise 3% in June to Rs 1,61,497 crore
Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess Rs 11,900 crore (including Rs 1,028 crore collected on import of goods). The government has settled Rs 36,224 crore to CGST and Rs 30,269 crore to SGST from IGST.
FPIs have invested more than Rs 47000 cr in June
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said valuations in India are rich, from a short-term perspective. Therefore, even while continuing to invest in India, FPIs are likely to turn a bit cautious, going forward.
Goldman Sachs may exit Apple Card partnership, offload to American Express
The Wall Street Journal reported that the investment banking firm is "looking for a way out" of its high-profile deal with Apple. "A retreat from the Apple credit card would effectively end Goldman Sachs's consumer-lending business," the report noted.
India sees zero unicorn in 2023 1st half as startup funding nosedives 70%
The first six months witnessed Indian startups raise just $5.48 billion, from $19.5 billion they raised during the same period last year, according to data by market intelligence firm Tracxn shared with IANS.
People face glitches on last day of linking PAN with Aadhaar
The Income Tax Department in a tweet said: "In this regard, it is to be informed that status of challan payment may be checked in ‘e-pay tax’ tab of portal after login".If a payment is successful, then PAN holder can proceed to link PAN with Aadhaar, it said.
HDFC Ltd to merge into HDFC Bank to create financial behemoth
HDFC Bank and HDFC Ltd had announced a decision to merge on April 4, 2022, subject to obtaining the requisite consent and approvals and had indicated a time frame of 15 to 18 months for the process to be concluded. The Boards of both the companies at their respective meetings held on Friday noted that the merger would be effective from July 1, 2023.
Apple only company ever to reach $ 3 trillion in market cap
Its shares rose 1 per cent on Friday to hit a record $191.34. With 15.7 billion shares outstanding, the stock price pushed Apple to its historic market value, CNN reported. Apple has been here once before: On January 3, 2022, when it hit the $ 3 trillion mark during intraday trading, but failed to close there.
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