City New Delhi Financial News
15.08 / 01:17
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independence day
Independence Day 2023 LIVE Updates: PM Modi's address to nation from Red Fort at 7.30 am today
Check all the LIVE Updates on Independence Day 2023 today. Independence Day 2023 Live: Prime Minister Narendra Modi will deliver his 10th consecutive Independence Day address to the nation today i.e.
14.08 / 21:35
Aviat
show
Windall tax on crude oil increased to ₹7,100 per tonne
New Delhi: The union ministry of finance has increased the windfall tax on sale of locally produced crude oil to ₹7,100 per tonne. For the past two weeks, the windfall tax on domestically produced crude oil was ₹4,250 per tonne. The increase would come into effect from 15 August.
14.08 / 19:37
IPO
Provident
country
ITC hotel spinoff at 10:1 ratio, IPO in 15 months
NEW DELHI : The board of ITC Ltd on Monday approved a proposal to demerge the company’s hotel business and separately list it on the stock exchanges within 15 months. As per the 10: 1 share entitlement ratio approved by the board, every person holding 10 ordinary shares of ITC will be entitled to one share of the demerged company, according to ITC. The company clarified that ITC shareholders would hold around 60% direct stake in the new hotel entity (proportionate to their stake in ITC).
14.08 / 19:37
UPS
Provident
Booking
Discover
Regulator proposes to ease delisting norms
NEW DELHI : The Securities and Exchange Board of India (Sebi) has proposed to ease the delisting regulations for companies to facilitate smoother exits for listed firms from stock exchanges. In a consultation paper floated on Monday, the regulator proposed providing an alternative route to listed firms for reverse book building and has also proposed a tweak counter offer framework. In a press conference held last month, Sebi chairperson Madhabi Puri Buch said a relook into the delisting rules was necessary since any participant who enters the listed markets should be able to exit it.
14.08 / 19:37
UPS
Provident
Progressive
Action
stage
Adani probe: Sebi seeks 15 more days
NEW DELHI : The Securities and Exchange Board of India (Sebi) sought a 15-day extension from the Supreme Court to conclude its investigation into stock manipulation allegations against Adani Group by US short-seller Hindenburg Research, asserting that the markets regulator has made substantial progress in the probe. Sebi said the extension would allow it to submit the final status report on 24 issues it has investigated in connection with the Hindenburg report.
14.08 / 19:37
COST
UPS
Target
Digital
band
Costs
Retail inflation roars to 7.44% as food costs bite
NEW DELHI : Consumer Price Index (CPI)-based inflation shot past estimates to hit a 15-month high of 7.44% in July as food and vegetable prices surged, breaching the Reserve Bank of India’s (RBI) inflation target range for the first time since February. A Mint poll of 19 economists had estimated a six-month high retail inflation of 6.50% in July, sharply up from June’s 4.81%, on account of a surge in vegetable prices.
14.08 / 19:37
COST
UPS
Digital
Action
performer
ITC beats Street estimates with 17.5% rise in June quarter profit
NEW DELHI : ITC Ltd on Monday outperformed Street expectations with a 17.5% rise in standalone net profit for June quarter, helped by lower exp-enses. However, an ongoing ban on wheat export and a more recent ban on rice export hurt standalone revenue for the quarter that fell 7.2% to ₹16,995.49 crore from ₹18,320.16 crore a year ago. The company, known for its Gold Flake cigarettes and Bingo chips, posted net profit of ₹4,902.74 crore for the quarter ended 30 June, up from ₹4,169.38 crore a year ago.
14.08 / 19:37
COST
Airlines
SpiceJet swings to ₹205 cr profit in Q1
NEW DELHI : Budget carrier SpiceJet on Monday reported a net profit of ₹205 crore in the June quarter, buoyed by continued strong demand for air travel. The Gurugram-based airline had reported a net loss of ₹789 crore a year earlier. Total income fell 8.4% to ₹2,267 crore in the quarter while total expenses decreased by 36% to ₹2,069 crore.
14.08 / 19:05
Citi
Provident
BLOCK
Cooper
Celebrity
Centre
Checking migration from border villages focus of Centre's Vibrant Villages Programme
Checking migration from border villages, which lack opportunities in education, health and employment, is the focus of those in charge of implementing the Centre's Vibrant Villages Programme. «We have a primary school in our village, but the middle school is 32 km away. There are no medical facilities, roads or employment opportunities.
14.08 / 17:13
Manufacturing
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country
electronic
Goods exports dip to lowest in 9 mths as demand slumps
NEW DELHI : Indian goods exports remained under pressure in July as demand from key markets such as the US, Europe and China remained subdued amid high inflation driven by persistent geopolitical tensions. While services exports continued to report healthy growth, merchandise or goods exports declined to their lowest in nine months, falling 16% to $32.25 billion in July from $38.34 billion in the year earlier, data released by the commerce and industry ministry on Monday showed. Imports during the month also declined by 17% to $52.92 billion from $63.77 billion in the year-ago period, narrowing the trade deficit to $20.67 billion.
14.08 / 17:13
Gap
electronic
‘Four states can be def aerospace hubs’
New Delhi: Karnataka, Maharashtra, Tamil Nadu and Telangana make a compelling case for becoming the hubs for India’s military aerospace ecosystem, says a recent report by management consultancy Primus Partners. The four states “collectively contribute to nearly 70% of the work centres of the LCA (light combat aircraft) Tejas aircraft ecosystem, but generally to India’s military aerospace industry as well.
14.08 / 17:13
show
Less than 20% of govt khadi units working, says CAG
NEW DELHI : Only 18 out of the 92 departmental trading units of the Khadi and Village Industries Commission (KVIC) are functional, the Comptroller and Auditor General of India (CAG) has flagged amid a push for Khadi products. These units include the Central Sliver Plants and sales outlets named Khadi Gramodyog Bhavans. A CAG report showed that as of 31 March 2021, as many as 74 trading units were defunct.
14.08 / 17:13
MAIL
Aware
Manufacturing
Strategy
country
Ready for carbon tax? Govt wants steel firms to find out
NEW DELHI : The steel ministry plans to write to all major steel companies with export interests to assess their preparedness for reducing their carbon footprint and for facing the green challenges emerging in global markets. The development comes at a time when India is exploring tariff and non-tariff measures to counter EU’s Carbon Border Adjustment Mechanism (CBAM) that proposes to tax ‘embedded carbon’ in imports of steel, aluminium, cement, hydrogen, electricity and fertilizers from 1 January 2026.
14.08 / 14:43
FIVE
awards
independence day
President approves 76 gallantry awards for Armed Forces and CAPF Personnel on eve of Independence Day 2023
New Delhi: President Droupadi Murmu on Monday approved 76 Gallantry awards to Armed Forces and Central Armed Police Forces personnel on the eve of Independence Day 2023. These include four Kirti Chakra (posthumous), 11 Shaurya Chakras (including five posthumous), two Bar to Sena Medals (Gallantry), 52 Sena Medals (Gallantry), three Nao Sena Medal (Gallantry) and four Vayu Sena Medals (Gallantry), the ministry of defence said.
14.08 / 14:35
14.08 / 10:27
14.08 / 09:47
Digital
Platform
country
WHO summit on traditional medicine to be held on 17-18 August
New Delhi: The world’s first ‘Traditional Medicine Global Summit’ will be held on 17-18 August in Gandhinagar. The summit will be jointly hosted by the World Health Organization (WHO) and the Indian government.
14.08 / 08:15
UPS
Target
FIVE
Manufacturing
Micron
country
electronic
‘India has advantages in semiconductors industry but be patient’: Chris Miller's big advice
Hindustan Times. He also highlighted that Taiwan plays a crucial role in the manufacturing of semiconductors, and foresaw the devastating effects a war in the Taiwan Straits would have on the world economy, the HT report said, adding that the semiconductor supply chain is controlled by a few dominant companies. In July this year, Indian and Japanese officials held discussions in New Delhi, exploring potential collaboration in crucial areas such as semiconductors and establishing robust supply chains.
14.08 / 08:15
COST
India, Sri Lanka to begin talks on petroleum pipeline project | Mint Primer | Mint
New Delhi And Colombo Are Set To Begin Technical D... moreNew Delhi And Colombo Are Set To Begin Technical Discussions That Could Pave The Way For A Multi-Product Petroleum Pipeline Between The Two South Asian Nations, Mint Has Learnt.
14.08 / 07:49
UPS
FIVE
Reuters
Manufacturing
band
show
wholesale
index
India's July wholesale price index falls less than expected on food prices
NEW DELHI (Reuters) -India's wholesale price index fell 1.36% year-on-year in July, but the decline was smaller than expected because of higher prices for food and some commodities.
14.08 / 07:17
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