Electronic Financial News

The Central Board of Direct Taxes (CBDT) is likely to allow non-resident taxpayers to take tax benefits under the double taxation avoidance agreements (DTAAs) without quoting the permanent account number (PAN), as they file the relevant form electronically, a senior official told FE.

US Treasury yields which hit a 16-year high. This has ignited a wave of risk aversion among investors. However, certain stocks have defied the odds and garnered bullish interest during Wednesday's trading session.

By Maria Martinez

IPO pipeline is showing no signs of drying up with ten companies filing their draft red herring prospectuses (DRHP) with the capital markets regulator on the last day of September. This brought the total number of filings for the month to 22, the second-highest monthly count in nearly two decades.

IIT-Delhi researchers have achieved an experimental breakthrough on secure quantum communication up to a distance of 380 kilometres in standard telecom fiber with a very low error rate that can be helpful in securing financial transactions and secret codes. This long secure length is the highest achieved so far, not only in India but globally, for the Differential Phase Shift (DPS) QKD protocol, according to officials. The results of the research by Indian Institute of Technology (IIT)-Delhi researchers has also been published in the «Nature Scientific Reports» journal. «Such low quantum bit error rate (QBER) makes the quantum communication resistance to collective and individual attacks and implementable for various applications, such as securing financial transactions, medical records and secret codes,» said Bhaskar Kanseri, lead researcher and associate professor at IIT-Delhi's Physics Department and Optics and Photonics Centre. «It is also capable of securing network communication such as Internet of Things (IoT) and ready to revolutionise the field of cyber security,» Kanseri said. He added that this realisation using state-of-the-art technology will not only help in reducing the need for trusted nodes for intercity or long-distance quantum key exchange, increasing the security of the cryptography scheme, but also prove to be a crucial step towards the commercial production of long-distance secure practical QKD devices.

Our future looks increasingly robotic—whether we like it or not. But the investment craze in robotics stocks may already be getting ahead of itself. The latest example: South Korea’s Doosan Robotics, whose shares nearly doubled in value on their first day of trading Thursday.

Foxconn to double workforce, investment in India by ‘this time next year’ Foxconn or Hon Hai Precision Industry, is the world's largest electronics maker. It is also a major supplier for Apple - whose newly launched iPhone includes an improved chip, titanium case and video game capabilities. Price however remains unraised, reflecting the global smartphone slump, the report notes.

₹25 crore in the last fiscal in upskilling programs to combat the shortage. Kandi highlighted that although the company's attrition is below the 10-12% industry average, "there are attempts to poach" from them. The senior executive also negated the fear that AI may lead to job cuts in the firm which employs about 57,000 in India.

Taiwan's Foxconn, the world's largest contract electronics maker and a major Apple supplier, predicted on Thursday strong year-end holiday sales after September sales dropped, coming off a high base for consumer electronics. The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets.

Chakri Lokapriya, CIO & MD, TCG AMC, says, “Swiggy is now focussing more on volumes given that the festive season is coming which means Zomato will also be forced to do so. Given that the stock has already run up now and given that its focus will have to shift again from profitability towards growth will kind of put a break to the stock.” Let us begin by discussing Bajaj Finance. Given the fact that Bajaj Finance is going to do a QIP, it will position itself well to maintain sufficient liquidity and maintain its margins in the upcoming festive season. So far, consumer demand has been weak across the board, except auto is a different ballgame. For the market, Bajaj Finance valuations will look more attractive. So, in spite of its high valuation, given its leadership position, Bajaj finance will do well as a stock.

₹26,000 for its customers at the onset of the festive season. Customers can avail of these benefits by purchasing various items from their favourite brands by using ICICI Bank’s credit/debit cards, internet banking, UPI via Rupay credit cards, and Cardless EMI. These offers are also available to the customers in the form of no-cost EMIs using the Bank’s credit/ debit cards.

Polymatech Electronics, India’s first opto-semiconductor chip manufacturer, has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). According to the draft papers, the company’s offering comprises a fresh issue of equity shares (face value Rs 10 each), aggregating to an issue size of up to Rs 750 crore, through book building route. There will be no offer-for-sale component. Polymatech Electronics proposes to utilise its net proceeds from the issue to purchase new machinery to enhance its existing facility at Oragadam, Kancheepuram, Tamil Nadu. Headquartered in Chennai, Polymatech commenced its journey of designing and producing opto-semiconductor chips in 2019, using the latest European and Japanese technologies. The company is led by Eswara Rao Nandam, Managing Director and an alum of BITS Pilani, with more than three decades of experience in the manufacturing and assembling sectors in electronic components, automobile components, personal electronics and robotics. The company designs, develops, tests and manufactures its opto-semiconductor chips in-house at its state-of-the-art facility located at Oragadam, Kancheepuram, Tamil Nadu.

festival season is here. And so is the season of sales and discounts. Everything from branded clothes to accessories to electronics, smartphones, and motorbikes is available on easy EMIs.

Chinese-owned video platform TikTok says it will halt its online retail operation in Indonesia to comply with the country’s decision to ban e-commerce transactions on social media platforms

UniSuper and two European pension funds will consider building wind farms in Tasmania after investing hundreds of millions of dollars each to buy timber plantations once owned by collapsed Tasmanian group Gunns.

Bhashini Division (DIBD) plans to launch the Reserve Bank of India's Public Tech Platform for Frictionless Credit in multiple languages to make financial services more accessible across languages. The DIBD will do this in collaboration with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the central bank, to explore and develop solutions that break linguistic barriers in the sphere of financial services.

WASHINGTON (Reuters) — New orders for U.S.-made goods increased more than expected in August and shipments accelerated, supporting views that economic growth strengthened in the third quarter.

NEW DELHI : State-run Bharat Electronics Ltd (BEL) is installing Endpoint Detection and Response (EDR) software at the All India Institute of Medical Science (AIIMS) in New Delhi for continuous monitoring of computers following repeated cyber-attacks. This is being done on the advice of the National Critical Information Infrastructure Protection Centre (NCIIPC) and Indian Computer Emergency Response Team (CERT-In), which recently found malware on computers connected with MTNL. AIIMS Delhi has faced disruption in services due to cyberattacks, following which all doctors and medical staff have been advised to use AIIMS computers on its closed networks.

MUMBAI : Foreign institutional investors (FIIs) have reduced their shareholding in the HDFC Bank to 58.75% as of 30 September-end against 60.23% as of 14 June prior to the effective date of HDFC’s merger into it on 1 July. This has increased the foreign room to 20.3% from 18.4% from 14 June, according to Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research. Foreign room is a measure used by global index provider MSCI to determine the proportion of shares still available for investment by foreign investors relative to the maximum limit.

₹15.8 trillion, UPI is a big success. With countries like Singapore, Malaysia, the UAE, UK and France accepting UPI linkages, India has impressed others with its financial regulatory system and technology capabilities. India is also pushing for inroads with other dependable offerings, including RuPay, which dominates the domestic debit cards market with over 860 million transactions, worth over ₹1.6 trillion.

https://a-pay.one/. At the heart of A-Pay operation lies the principle of payment security. Each transaction is routed through secured channels, ensuring the confidentiality of your information and the safety of financial operations.