CEO Financial News

QueueBuster, an android-based billing and inventory app, has launched its first-ever ad campaign,Business Hoga Asaan, to promote the features of its POS application to big and small businesses.

₹466.14 crore for the quarter ending June 2023. ACC Q1 net profit more than doubled from ₹227.35 crore in the corresponding period of last year. The company’s consolidated revenue in Q1FY24 increased 16.4% to ₹5,201.11 crore from ₹4,468.39 crore, YoY.

Emami Agrotech, the edible oil and food-manufacturing arm of Emami Group has passed on the benefits of the drop in global oil prices to its consumers by lowering the MRP on its popular edible oil brands Emami Healthy & Tasty and Himani Best Choice by 35-40% over a period of 12 months since July,2022 consistently, the company said in a media release issued on Thursday. The company monitors the MRP changes across the popular consumer pack of 1-litre pouch for the mustard, soyabean, rice bran and sunflower variants of Healthy & Tasty along with that of soyabean and palmolein variants of Himani Best Choice.

Liberty General Insurance on Thursday was appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India (IRDAI). The appointment comes as a part of IRDAI’s State Insurance Plan, which aims to enhance financial awareness and drive insurance inclusion in collaboration with other insurers.

Ujjivan Small Finance Bank reported a 59.7% rise in its net profit for the quarter ended June 2023 to ₹324.07 crore as compared to ₹202.94 crore in the same quarter last year. The bank’s net interest income (NII), which is the difference between interest earned and interest expended, during Q1FY24 increased 32.1% to ₹792.4 crore from ₹599.7 crore, YoY. Net interest margin (NIM) for the quarter declined 40 bps to 9.2% from 9.6%, YoY.

Kalpataru Projects International and its arms have bagged orders worth Rs 2,261 crore. «Kalpataru Projects International Ltd (KPIL) & its international subsidiaries have secured new orders/notification of awards of Rs 2,261 crore,» a company statement said.

«I have been very constructive on software for a while now. And the underlying hypothesis is the fact that we generally believe that inflation was always a supply side problem,» says Nirav Sheth, Emkay Global Financial Services.Let us start with technology then. Do you think technology space has bottomed out or not yet? I have been very constructive on software for a while now.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

cryptocurrency markets were majorly trading higher on Thursday after the US Federal Reserve stuck to script with a 25 basis-point rate hike. The Fed as anticipated lifted its benchmark lending rate to a range between 5.25% and 5.5%, with Chair Jerome Powell saying during a press conference that the central bank would let data determine whether to hike again. Bitcoin (BTC) surged 0.67% to $29,429, whereas Ethereum (ETH) was above the 1,850 level. BTC volume in the last 24 hours stood at approximately $12.96 billion, rising 20.32% in the last 24 hours. «After the US Federal Reserve raised its interest rates by 25 basis points, as expected by the market, there was a mild uptick in most cryptocurrencies. Bitcoin, which had previously dipped to a low of US$29,097 on Tuesday, has now shown signs of recovery, surpassing the US$29,400 level,» Edul Patel, Co-founder and CEO at Mudrex, said.

Wealth giant Insignia Financial will retain its potentially lucrative superannuation and digital financial advice offerings while spinning off its self-employed advisers into a standalone business, as part of an overhaul designed to accelerate its struggling advice arm’s return to profitability.

Tasmania has the cheapest pumped hydro opportunities in the country, but the final design of policies currently under development will be critical to open up the “Battery of the Nation” to the national market, according to Hydro Tasmania chief executive Ian Brooksbank.

₹1 lakh without disclosing the PAN of their landlords (as per Section 10(13A)). “Unfortunately, some individuals have been taking advantage of this provision, leading to a surge in cases where taxpayers are receiving notices from the tax department, asking for proof to validate their tax exemptions," said Abhishek Soni, CEO and Co-founder Tax2win. To scrutinize the genuineness of such claims, the Income Tax Department is adopting a comprehensive approach.

US Federal Reserve raised its benchmark lending rate on Wednesday (July 26) to the range of 5.25 per cent - 5.50 per cent, the highest level since 2001, and also signalled that the war against inflation will stretch, with a possibility of further increases ahead. Federal Reserve Chair Jerome Powell said it is possible the central bank will follow its latest rate rise with another one at the policy meeting scheduled for September, or it may even take a pause, depending on the macro data.

Marico will acquire a majority stake in Satiya Nutraceuticals, which owns plant-based nutrition brand Plix, for a consideration of Rs 369.01 crore. The company has signed a definitive agreement to acquire a majority stake of 58 per cent in Satiya Nutraceuticals for a consideration of Rs 369.01 crore, Marico said in a regulatory filing on Wednesday.

Samsung will be making its latest foldable smartphones locally in India, serving a growing base of premium smartphone users, and pursuing an aggressive market strategy with presence across 10,000 retail stores to tap into the hinterlands, senior executives of the company said. «The new devices were made possible because of world class R&D and manufacturing capabilities, especially in India. I am happy to announce that both the Galaxy Z Flip5 and Z Fold5 will be manufactured in our Noida factory in India,» Samsung Southwest Asia CEO, JB Park said. Park added that Samsung is the fastest growing smartphone brand in the premium segment in India. «More and more Indians are looking to upgrade to premium devices,» he said. Now in its fifth iteration, the latest foldables that includes the Samsung Galaxy Z Flip5 and ZFold5 comes with incremental upgrades such as a faster processor, thinner and lighter body, and a brighter display.

Tech Mahindra Ltd. fell short of the mark in its June quarter (Q1FY24) earnings, disappointing its investors and sending shares down almost 3% in the National Stock Exchange's early trading on Thursday. The company reported a disheartening 4.2% sequential drop in constant currency revenue, failing to meet analyst expectations.

By Richa Naidu

FRANKFURT (Reuters) — Roche said it had abandoned certain drug development projects or acquisitions under consideration because of planned price cuts in best-selling prescription medicines in the United States.

HRA tax exemption to save income tax by paying rent to their wife, parent or other relatives. To be clear, a salaried individual can consider a relative, parent or wife as landlord, pay rent to the person concerned and save income tax. However, the Income Tax tribunal has issued various judgments rejecting such HRA tax exemptions, leading to the individual having to face higher tax liability.

By Andres Gonzalez and Jesús Aguado

By Dominique Vidalon