BUSINESS
Adani fights back - and it's helping
The aftershocks of the report rattled the group and its impact was felt by markets as well. The group began its slow and steady fightback, and did many things to restore its image and credibility among various stakeholders. The stock markets, which had witnessed crazy volumes and price movements in the Adani pack, saw volumes reducing significantly last week. The exchanges took measures to curtail volatility and introduced higher margins on the stocks. Further the price volatility seems to be subsiding and things are getting back on track.
Noida emerges as UP's most favoured investment destination at GIS
Investors are flocking to Yamuna Authority in view of the upcoming Jewar Airport. Along with this, Greater Noida Authority and Noida Authority have also attracted several investors. The Uttar Pradesh government has received an investment proposal of Rs 32,92,000 crore from the Global Investors Summit (GIS), which will provide employment to 92 lakh people.
NALCO profit up 61% in Q3, net profit at Rs 274 crore
As per the reviewed financial results for the 3rd quarter of FY 23, taken on record by the Board in the meeting held at Bhubaneswar, NALCO recorded a net sales turnover of Rs 3,290 crore. Lower sales volume of alumina during the quarter, higher input costs coupled with global challenging business scenario and volatility has affected the profit margins despite the fact that the company has registered robust growth in production in all fronts.
FM Nirmala Sitharaman addresses central board of RBI, reviews economic situation
She gave these directions while addressing the central board of directors of the Reserve Bank of India (RBI). The board also reviewed the global and domestic economic situation, and associated challenges, official sources said.It is customary for the Finance Minister to address RBI's board after the presentation of the Union Budget every year.
'South Gurugram set to become real estate hub with opening of Delhi-Mumbai Expressway'
The project has the potential to revitalise south Gurugram and the surrounding areas by driving economic activity and providing numerous benefits for all, they say. Real estate players are optimistic about the impact of this new development, with many expressing their excitement.
Direct Tax Collections (FY 2022-23) records growth at Rs 15.67 lakh cr
Direct Tax collections up to February 10 showed that gross collections are at Rs 15.67 lakh crore which is 24.09 per cent higher than the gross collections for the corresponding period of last year. According to the Ministry of Finance, Direct Tax collection, net of refunds, stands at Rs 12.98 lakh crore which is 18.40 per cent higher than the net collections for the corresponding period of last year.
Regulators are experts in their domain, says FM on Adani row
She said this when asked to react to Supreme Court's observation on the Hindenburg-Adani group controversy. The Supreme Court on Friday heard a petition seeking its intervention in the Adani row. Chief Justice D.Y. Chandrachud, while hearing the matter on Friday, said that "Do we intervene and have a mechanism to ensure this doesn't happen again? We do not want to get into policy matters. That is for the government."
Pakistan witnessing a petrol crisis
There is a short supply of petrol in the country with Punjab province bearing the brunt of the crisis. Major and smaller cities, towns and villages in the province do not have the major fuel, The News reported. The crisis has worsened in the last few days despite the government's warning to the people from hoarding petrol in anticipation of an increase in its price.
IRDAI forms consultative committee on insurance investments
The Committee with a tenure of two years will be headed by Supratim Bandopadhyay, former Chairman of the Pension Fund Regulatory and Development Authority (PFRDA). "With a view to monitor the dynamic financial markets on a continuing basis, and to review the regulatory framework on managing the investments in the insurance sector, and to advise IRDAI on developments.
DGCA imposes Rs 20 lakh fine on Air Asia for failing to discharge duties
The DGCA has also imposed a penalty of Rs 3 lakh each on eight designated examiners of the airline for failing to discharge their duties.It has also asked for removal of the airline's Head of Training from his position for three months. Earlier, a surveillance inspection of Air Asia (India) Ltd was carried out by the DGCA during November 23 to November 25, 2022.
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