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₹ 401.7 crore show-cause notice from the Directorate General of GST Intelligence for delivery charges collected over two and a half years. The notice, dated 26 December, asks why Zomato shouldn't be liable for this tax amount, including interest and penalties, for the period from 29 October 2019 to 31 March 2022. Zomato, in a notification to stock exchanges on Thursday, refuted the claims, arguing that it was “not liable" to pay any tax on the delivery charges, as these are collected on behalf of delivery partners.

Edited excerpts of the interview: This year companies had to align themselves to what works long-term for businesses, and what is good for both the company and the investors, and finally, the LPs (limited partners) of our funds who put their faith in India and who have invested heavily in India. Therefore, I think it was time to readjust many things, and in some cases, correct certain excesses in the ecosystem. The good part is we have emerged from this as, maybe, the hotspot globally.

Reuters. The fatal airplane crash in January 2023 took the lives of all the 72 people on the Yeti Airlines flight, including five Indians.

Mr Dane Cheng, Executive Directorof the HKTB, said,“The Hong Kong New Year Countdown Celebrations is one of Asia’s most captivating countdown events, and has long been widely covered by the Mainland and international media and attracted large crowds to the performance. This year’s celebrations will be the largest that Hong Kong has ever seen on New Year’s Eve. Together with an East-meets-West musical, the performance will surely attract large crowds to enjoy the performance in person. I believe that this dazzling audiovisual extravaganza in Victoria Harbour on New Year’s Eve will boost the lively, vibrant night-time ambience across the city while showcasing Hong Kong’s unique appeal to the rest of the world." Largest-ever firework spectacle created by a world-renowned teamOn New Year’s Eve, when the countdown clock strikes midnight on the wall of the Hong Kong Convention and Exhibition Centre, Victoria Harbour will be transformed into a grand for the “New Year, New Legend" fireworks extravaganza.

Mazagon Dock Shipbuilders Ltd (MDSL) has been on an order-bagging spree of late. On 20 December the company signed a contract worth ₹1,600 crore with the Ministry of Defence – its third order win just this month. MDSL is among the key beneficiaries of indigenisation in the defence sector and its robust order prospects are attracting investors, causing its stock to jump 186% just this year.

If you are a new investor and are deliberating over which mutual fund scheme to invest into, you are likely to be tempted by the returns delivered by different schemes. 

A US$700-million investment barely burns a hole in Rio Tinto Ltd.’s pocket. The sum is less than five per cent of its 2022 annual income of roughly US$16 billion and isn’t supposed to dominate headlines from a financial perspective.

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Tata AIA Life Insurance has recently launched the Tata AIA Life Flexi Growth Fund, enabling policyholders to invest in a diverse array of companies across large, mid, and small-cap sectors, based on their attractiveness at any given moment. This new fund offering (NFO) through the Unit Linked Products window was unveiled on December 16, 2023, and will be accessible until December 31, 2023, at a net asset value (NAV) of ₹10 per unit.

S Krishnakumar, Founder & Director,Lion Hill Capital, says “a reversal in the interest rate cycle globally means that money is going to be available at a much lower cost and we are going to see more risk-on come through over the next couple of years. Also, the outcome of the state election results in India has removed uncertainties about political continuity following May 2024 elections. These two major factors have removed some uncertainty from markets and a rally that could have happened in the middle of 2024 has already happened in December ‘23 thereby front-ending a lot of the returns of 2024 in a way.” Which side of the argument would you lean on, given that on the one hand, how inherently domestic flows, and now increasingly overseas flows are also good, but on the other hand, the recent rally in the month of December has been pretty sharp? S Krishnakumar: A couple of uncertainties are out of the way. One is, the state elections in north India gave BJP a thumping victory and removed uncertainties about the central elections in May 24 which now seem to be very much in the bag for the BJP-led front.

By Yelin Mo and Casey Hall

Delhi University has issued a directive requiring its teaching and non-teaching staff to undergo a mandatory certificate-cum-refresher course on Bhagavad Gita, sparking dissatisfaction among some teachers who expressed concerns about the potential promotion of "sectarian beliefs." The 20-day course, scheduled to run until January 9, is offered both online and offline, from 4:30 pm to 6:30 pm. College principal SP Aggarwal, in an email to the teaching staff, explained that the course aligns with the establishment of the Indian Knowledge System Centre at the college, emphasizing the need to sensitize staff through such programs.

#1 & #2 Gold and Silver Gold and silver are classic inflation hedges. Their prices have risen recently, and many market experts hold a bullish outlook for these metals in 2024. As international and monetary assets, their values are closely tied to the US dollar's strength.

Rishi Kohli, CIO - Hedge Fund Strategies at InCred Alternative Investments, told Mint that Nifty may hit the 25,000 level by the end of 2024. The market is witnessing tailwinds which can propel it to unprecedented levels.

BSE has surpassed ₹366 lakh crore, underscoring the significant growth and value within the market. December 2023 has emerged as the best month in terms of returns for the Indian market. The Nifty 50 has recorded a remarkable surge of over 7% within the month, constituting the most substantial monthly rally observed throughout the year.

By Lisa Baertlein

Among the top seven areas, Hyderabad saw the highest increase of 42% in the average price of premium homes in the five-year period. The price rose from Rs 7,450 per sq ft in 2018 to Rs 10,580 per sq ft during the first half of 2023. Bengaluru and MMR recorded the second-highest average price hike in this segment at around 27% each. In Bengaluru, the average price of a luxury home stood at Rs 10,210 per sq ft in 2018. Since then, the average price rose to Rs 12,970 per sq ft. In MMR, the average price in the luxury segment was Rs 23,119 per sq ft in 2018. It jumped to Rs 29,260 per sq ft at the end of the first six months of 2023.

Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world's top five automakers. The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company's popular phones. But the car is making its debut at a time when the world's largest auto market is wrestling with a capacity glut and slowing demand that have stoked a bruising price war.

A Moroccan man is facing charges in Canada after a series of bomb threats in Ontario last month and his arrest by Belgian police, the OPP says.

Salaar Box Office collection Day 6: Prabhas’ movie Salaar: Cease Fire - Part 1 has completed its initial six-day run at the Box Office. The India net collection has tallied up to ₹297.40 crore. The movie opened with a robust ₹90.7 crore on its first Friday.

Dunki Box Office collection Day 7: The Box Office performance of Shah Rukh Khan’s latest movie "Dunki" over its first seven days showcases a fluctuating trend in its net collection across India. The movie kicked off with a strong opening on its first Thursday, collecting ₹29.2 crore. However, it was the weakest among Khan’s three releases this year, the other two being Pathaan and Jawan.