City Hyderabad Financial News

Delta Corp has been issued an intimation by the Directorate General of GST Intelligence, Hyderabad alleging tax liability of Rs 11,139 crore along with interest and penalty for the period from July 2017 to March 2022. If the dues remain unpaid it will be served with a show-cause notice, the company said in a stock exchange filing on Friday. «The amount claimed in the DG Notice is inter alia based on the gross bet value of all games played at the casinos during the relevant period. Demand of GST on gross bet value, rather than gross gaming revenue, has been an industry issue and various representations have already been made to the Government at an industry level in relation to this issue,» the company said.

Telangana Election 2023 Latest News: After the resounding success of Karnataka Assembly Election, the Congress has announced six guarantees for the upcoming Telangana state polls. Launching the party’s election campaign in the state, Sonia Gandhi announced these schemes.

Potential homebuyers are optimistic about the economy and their future earnings, which augurs well for driving demand in the property market. Real estate, in fact, continues to be the preferred asset class with 48 per cent of the respondents opining that they would want to invest in property as it is a stable hedge against inflation and is a time-tested wealth-building tool, according to a survey conducted by Housing.com in collaboration with NAREDCO.

Oyo has added nearly 2,800 corporate clients during the January-July 2023 period, up 11.75% year-on-year (YoY), according to a report from the company titled 'Oyo Business Travel Trends Report 2023'. The report suggests the company recorded a 20% revenue growth from business travel in January-July 2023 against the year-ago period.

Canadian universities have raised concerns about potential visa delays for Indian students amid ongoing political tensions between the two nations. These delays could disrupt the upcoming spring academic session, scheduled to commence in January. In light of the uncertainty surrounding visa processing times, these representatives, currently attending an education fair in Hyderabad, have advised Indian students interested in pursuing higher education in Canada to consider planning their academic session for the fall/autumn term, starting in August 2024. Expressing their apprehension, one representative told TOI, «With just three months left for students to travel for the spring batch, there is apprehension that visa processing times may pose challenges.» Many universities are contemplating waiting for an additional week to assess the situation before making decisions regarding admission letters for either the spring or fall of 2024. They are actively counseling students not to rush their plans to travel to Canada, emphasizing potential delays in securing study permits. An Ontario university representative highlighted their intention to wait another week before finalizing admission plans. Depending on the evolving situation, they will determine whether to issue admission letters for January, May, or fall 2024. Their goal is to ensure that students do not need to defer admissions due to visa-related issues.

Analysts are mixed on the IPO mainly due to the competitive nature of the industry in which the company operates. «We advise investors to wait and watch the performance of the company once the stock is listed and then take a call,» said Avinash Gorakshakar of Profitmart Securities while recommending an «Avoid» rating. However, StoxBox said the company's product catalogue, stronghold in the southern markets and a good track record are some of the key positives driving the company's future prospects. «The pricing looks attractive vis-à-vis its peers as it values MVGJL at 11.7x of its FY23 earnings. We, therefore, recommend a SUBSCRIBE rating to the issue,» it said. Vaibhav Jewellers is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana. About 77% of its retail showrooms are in tier-2 and tier-3 cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers. The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) of up to 28 lakh equity shares.

New Delhi: India’s largest airline IndiGo has signed a codeshare partnership with UK flag carrier British Airways InterGlobe Aviation-promoted IndiGo currently has codeshare partnerships with Turkish Airlines, Qatar Airways, Qantas, Virgin Atlantic, KLM, American Airlines, and Air France. Under a codeshare agreement, airlines agree to sell seats in each other's flights in order to provide their respective customers a wider network. With this codeshare partnership with IndiGo, British Airways will now be able to add three additional routes to their existing network, including Rajkot to London Heathrow via Mumbai, Vadodara to London Heathrow via Mumbai and Thiruvananthapuram to London Heathrow via Mumbai.

Candlelight Concerts to India, kicking off with performances in tribute to Taylor Swift’s greatest hits, Vivaldi’s Four Seasons, British bands Queen and Coldplay, as well as the Japanese composer Joe Hisaishi. The expansion into the region comes on the heels of the experience’s success, having delighted audiences in more than 150 cities worldwide, including New York, London, Madrid, Singapore and Tokyo.Audiences who would like to be the first to know about the local venues and music programs kicking off the series can sign up on each city’s page at feverup.com.

New Delhi: The Directorate General of Civil Aviation on Thursday said it has implemented new norms related to watch duty hours and rest requirements for air traffic controllers at 57 airports, the regulator said today. The new norms mandate that duty period of air traffic controllers shall not exceed 12 hours and there must be a gap of at least 12 hours between the end of one shift and the beginning of the next shift.

Actor Akhil Mishra, who is best known for his role in Aamir Khan-starrer "3 Idiots", died on Thursday at the age of 67 a day after he fell at his residence in Mumbai on Wednesday evening, his publicist announced. The publicist also said that Akhil Mishra had blood pressure issues and he succumbed to his injuries after the accident in the kitchen of his residence. In a statement, the publicist said, "He was on a chair in the kitchen trying to do something when he fell down and hurt his head and back.

Everest Fleet has raised Rs 50 crore (around $6 million) from private equity firm Paragon Partners, as it looks to accelerate growth and expand into new markets. The equity investment into Everest Fleet has come just a month after it raised an undisclosed amount of debt from mid-market-focused alternative investment fund Arka Credit Fund I, by issuing non-convertible debentures.

Vaibhav Jewellers will open for subscription on September 22. The issue closes on September 26 and the anchor investors allocation will be done later today. Ahead of the issue opening, market analysts say there is no definitive trend of GMP of the company's shares in the unlisted market. Vaibhav Jewellers is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana. About 77% of its retail showrooms are in tier two and tier three cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers. The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares.

Royal Enfield Rental will be accessible in cities such as Ahmedabad, Mumbai, Gujarat, Maharashtra, Chandigarh, Dharamshala, Leh, Manali, Haridwar, and Rishikesh. Additionally, the manufacturer will extend its motorcycle rental services to Udaipur, Jaipur, Jaisalmer, Goa, Kochi, Bhubaneswar, Thiruvananthapuram, Visakhapatnam, Delhi, Chennai, Bengaluru, Hyderabad, Shimla, Nainital, Bir Billing, Siliguri, and Dehradun. The company says that it intends to include more cities to this roster as part of its expansion plans.

Narendra Modi is likely to flag off nine Vande Bharat express train on Sunday i.e. on 24 September, ministry officials told News18. Among these nine trains, the Indian Railways is set to launch two trains for West Bengal’s Howrah and Tamil Nadu’s Chennai while one each for Kerala, Odisha, Telangana, Gujarat and poll-bound Rajasthan.

As weekends approach, more and more people are opting for road trips using services like Zoomcar, DriveU, and QuickRide during the period leading up to the festive season. Simpl, a payment platform, has reported that the number of bookings on these merchant platforms, made through its one-tap checkout, has doubled in August this year compared to the same time in 2022. Reportedly, out of the different ways to travel, more and more people are choosing to rent self-driven cars.

MUMBAI — NCC is one of the largest listed construction companies in India in terms of revenue, with a well-diversified portfolio comprising buildings, transportation, water and environment, irrigation, electrical (T&D), mining and railways.

Reliance Jio on Tuesday launched its fixed wireless access (FWA) device — Jio AirFiber — in eight cities — Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune, just over a month after rival Bharti Airtel introduced its own device in two cities, as both telcos make initial attempts at monetising their 5G services. «Our extensive fiber-to-the-home service JioFiber, already serves over 10 million customers...With JioAirFiber, we are expanding our addressable market to rapidly cover every home in our country with similar quality of service,» Akash Ambani, chairman of Reliance Jio, said in a statement. A fixed wireless device uses radio frequencies instead of cables/fibres to provide fixed broadband access, using technologies like 5G. Simply put, these are portable broadband devices, much like dongles but with better coverage and speeds. The Jio AirFiber service has been launched with multiple plans ranging from 30 Mbps speeds to 1000 Mbps speeds, all available in blocks of six months and 12 months, the telco said in the statement. The plans are available in two buckets — Jio AirFiber and Jio AirFiber Max.

India Global Capability Centres (GCCs) of New York-headquartered telecommunications conglomerate Verizon grew 15% last year, Sowmyanarayan Sampath, CEO of Verizon Consumer Group said on Tuesday at a press briefing. Verizon Consumer Group in 2022 contributed $105 billion in revenue to the company’s overall revenue of $136 billion. As per Investopedia, Verizon is the second largest provider of cellular service in the US that provides communications, information, and entertainment products and services worldwide to consumers, businesses, and government organizations through its consumer and business segments.

Reliance Jio, AirFiber, was launched on the ocassion of Ganesh Chaturthi on Tuesday. So far, the service will be active in eight cities. Jio AirFiber also offers subscription of popular OTTs like Netflix, Amazon, Hotstar, etc on selected plans.

MotoGP round in India, including six-time champion Marc Marquez, are awaiting their visas ahead of the race this weekend. Sources in Repsol Honda Team confirmed to PTI that the arrival of its riders Marquez and Joan Mir in India has been delayed due to visa issues. Both the Spanish drivers were scheduled to visit the Honda India factory in Manesar on Wednesday but now that visit stands cancelled. «The riders are yet to reach India due to visa issues.

Reliance Jio, on Tuesday, launched its Jio AirFiber services. In its initial stage, the service will be live in eight cities including Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune. "With JioAirFiber, we are expanding our addressable market to rapidly cover every home in our country with similar quality of service.