COST Financial News

ITR filing 2023: If you have failed to file your income tax return (ITR) for the Financial year 2022-23 by July 31, you can still file a belated return till 31 December, but that comes with a cost. The last date to file ITR passed on July 31, and as expected the government did not extend the deadline for the same. While data showed that the total number of ITR filers has scaled a peak with over 6.50 crore ITR fillings till 6 pm Monday.

puzzle of this month and it's a tricky one. Before heading towards hints and solutions, let's find out what the game is about? Quordle is an Internet based word puzzle game designed by Freddie Meyer. The game is available on its official website and is free to play. Quordle is completely ad free and does not require you to do any log in or sign up formalilities. It is a Wordle-Dordle inspired game and is a bit too challenging, especially for beginners. Quordle also provides you with a previously played dashboard where you can play old word puzzles and try your hands on before playing a live challenge.

Entrepreneurs spend years transforming their businesses but sometimes can miss the tell-tale signs of downfall. The same happened with businessman Vijay Mallya, who is absconding after he was unable to pay his debt of Rs 9,000 crore ($1.1 billion).Kiran Mazumdar-Shaw, who was named in the 100 most influential people of the world list in 2010 by TIME magazine, recently revealed on Zerodha co-founder Nikhil Kamath's popular podcast series 'WTF' her equation with Mallya. The Executive Chairperson of Biocon Limited said that they were next-door neighbours and grew up together. «He considered me as his elder sister,» she shared with Kamath. Calling Mallya a 'dear friend' and a 'nice guy', the businesswoman said that the defamed industrialist has a «brand appeal to the youth.» When Kamath asked what made Mallya likeable, she said that he is a generous man who loves his friends. While the former liquor baron was a passionate serial entrepreneur, Mazumdar-Shaw said that he was unable to recognise the warning signs of failure. Mallya, who was heading the United Breweries Group, wanted to try out different businesses. But, getting into Kingfisher Airlines was a «blunder,» said the biotech boss.

Funding in PropTech firms experienced a slight dip in 2022, reaching USD 719 million, according to a report by housing.com. However, the PropTech sector has demonstrated resilience, with a cumulative investment of nearly USD 4 billion between 2009 and 2022, boasting a remarkable compounded annual growth rate (CAGR) of 49 per cent. «Investments in the PropTech space remained stable throughout 2022, even amidst global turmoil.

viscose staple yarn (VSY) industry is set to grow 10-12% on-year to an all-time high of over $2.5 billion this fiscal on continued strong demand — similar pace to last fiscal, said CRISIL Ratings on Tuesday. Even as yarn prices decline, though at a lower rate than raw material prices, overall profitability is likely to improve 200-300 basis points (bps). Strong balance sheets and improved cash flows will support the credit risk profiles of manufacturers, despite substantial debt-funded capital expenditure (capex).

₹12,700 crore. “Based on our calculations, we see an earnings per share cut of 4-5% and RoCE reduction of 90 basis points (cash payout)/310 basis points (equity swap) in FY25," said analysts at Motilal Oswal Financial Services in a report on 31 July. RoCE is short for return on capital employed and one basis point is one-hundredth of a percentage point.

Quadrant Private Equity is revisiting the sale of its aged care business myHomecare, and brought back Gresham Partners to usher through a deal.

GAIL India share price recouped from early losses to trade over 2% higher on Tuesday after the company reported Q1 results. Gail India shares rose as much as 2.81% to ₹122.35 apiece on the BSE. The company reported a decline of 45% in consolidated net profit at ₹1,793 crore for the first quarter of FY24, compared to ₹3,250 crore in the corresponding period last year.

Deven Choksey, MD, KRChoksey Holdings Pvt. Ltd, says “today, there is definitely a margin of safety in these kinds of companies. It is not available immediately.

Ujjivan Small Finance Bank remained unassailable on Tuesday as the stock jumped over 8% to a fresh 52-week high of Rs 52.25 on the NSE. The stock has gained 22% over the past six trading sessions on its strong June quarter earnings. The uptick in prices was supported by strong volumes.

The Marginal Cost of Funds Based Lending Rate (MCLR) is the minimum lending rate below which a bank may not lend.Here is a look at the latest MCLRs of ICICI Bank, PNB and Bank of India.ICICI Bank ICICI Bank has hiked MCLR by 5 basis points (bps) across all tenures. According to the ICICI Bank website, the overnight, one-month MCLR rate hiked to 8.40 percent from 8.35 percent. The three-months, six months MCLRs at ICICI Bank hiked to 8.45 percent, and 8.80 percent, respectively. The one-year MCLR is revised to 8.90 percent from 8.85 percent.

Quant Mutual Fund has earned a name for itself with its impressive performance in the last few years. However, most of its schemes have been underperforming for a while. ETMutualFunds reached out to Sandeep Tandon, CEO of Quant Mutual Fund, to find out what is happening and what is he doing about the situation. “We have been vocal about the fact that for us, investment is about primarily managing risks and returns are therefore a by-product,” says Tandon. “Our VLRT Framework and Predictive Analytics indicators are used to dynamically maximize the opportunities across the portfolios. As you are aware, we have demonstrated the same in the past and emerged as an outlier in most of the categories in which we operate.” Edited interview.Equity schemes of Quant Mutual Fund have been underperforming for a while. Most investors, who were used to the stupendous performance of these schemes in the last few years, are concerned. What’s happening? It is imperative to focus on long term wealth creation and not be distracted by intermittent blips of market volatility. At quant MF, active identification and participation in growth opportunities is done (through our Predictive Analytics toolkit) while exercising due caution (through our VLRT Risk Mitigation framework). This is the only recourse that can help build meaningful wealth and preserve it through the volatile years ahead.

Labor’s delay in acting on a recommended overhaul of financial advice laws is leaving Australians stranded with unnecessarily expensive life insurance or without cover they need, insurers warn.

H2X Global, an Australian hydrogen fuel cell-powered vehicle company, will receive up to $86 million in capital over the next two years from Nebraska-based Verde Mobility as it targets commercial production by 2025.

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra AMC, says “from an overall financial services space, we believe this is a pretty good time to be in the sector. Of course, depending upon various dynamics, one may have to shift from one segment to the other but by and large, valuations are in your favour.”The banking space, in terms of results, is making people happy. What are your readings now and going ahead?If you look at the banking and financial services sector, it is interlinked to the overall economy and what is happening from a GDP growth interest rate perspective.

Europe's economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend. The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year, the EU statistics agency Eurostat reported Monday. That's an improvement over zero growth in the first quarter and a slight decline in fourth quarter of last year — but not by much.

Maruti Suzuki India (MSIL) set its foot on the gas pedal with a two-fold year-on-year jump in its net profit, the EBITDA miss acted as an unwanted speed breaker, inviting a 'Sell' recommendation from CLSA. The stock on Tuesday fell by 1.4% on NSE to the day's low of Rs 9,680.50 and was one of the worst performers in the Nifty pack in the opening trade. Notwithstanding the miss, domestic brokerages remain gung-ho about the prospects of the country's bellwether carmaker and expect a market share gain, going ahead.

These moments, which might seem unrelated, represent a transformation in world trade. US-China tensions and Russia’s invasion of Ukraine are leading companies to bring supply chains closer to home. A shift from fossil fuels is spurring demand for materials essential for electrification.

shipping companies are plowing their pandemic windfalls into orders for new vessels on an unprecedented scale, making an industry known for hair-raising cycles of boom and bust more vulnerable in the latest downturn. Container carriers like MSC Mediterranean Shipping Co., A.P. Moller-Maersk A/S, CMA CGM SA and Hapag-Lloyd AG — all backed by European billionaires — are spending record profits gleaned during the health crisis to splash out on new models mostly from Korean and Chinese shipyards. This has pushed the global order pipeline to a historic level — almost $90 billion by one estimate. But the tide has turned in the notoriously cyclical sector as freight rates flirt with below-breakeven levels and fears about overcapacity re-emerge. “Too many large container ships have been ordered,” said Erik I. Lassen, chief executive officer of Danish Ship Finance A/S, a company providing vessel financing. He noted that deliveries are now starting at a time when supply chains are running more smoothly and demand for freight transport is back to pre-pandemic levels. “There will be shipowners — tonnage providers — out there that will have stretched themselves,” he said in an interview. “Although the last couple of years have been profitable for shipping, the accumulated earnings are far from enough to fund the investment in new technology and ships in the coming decade.”

income tax department has extended this deadline or not, then the answer is no. The income tax department has not extended the deadline to file ITR. Despite there being several reasons for extending the ITR filing deadline, the income tax department has not provided any relief to taxpayers who hadn't filed their ITR by July 31, 2023.

Deepak Shenoy, Founder, Capital Mind, says “in the near term, Narayana Healthcare stock prices have gone up and so there may be some corrections. But longer term, it should be valued at much higher than it is as the Cayman Islands capex comes through and as some of the expansion within India also takes place. I do not believe they are too expensive.