Provident Financial News

Investing.com — Stocks were weaker on Tuesday, kicking off a holiday-shortened trading week as oil prices surged.

Family-owned printing, packaging and labelling business Winson Group has its sell-side adviser PwC telling potential buyers to think about $208 million revenue this financial year as its founding family looks for an exit.

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While investors continue to withdraw capital from the decentralized finance (DeFi) industry at large, one particular sub-sector is growing at breakneck speed. Here's the latest.

By Michael S. Derby

New Delhi: The power ministry has amended the electricity rules designating Central Electricity Authority (CEA) as the verifying authority for such captive power generation plans, the users of which are located in more than one state. This was the third amendment to the rules in the past few months, whereby government is trying to streamline captive power generation.

New Delhi: The average time taken to process income tax returns after its verification by the tax payer has been reduced to 10 days, Central Board of Direct Taxes (CBDT) said in a statement on Tuesday. CBDT said that the tax department's efforts to provide seamless and expeditious taxpayer services are being continuously strengthened. "In line with the same, average processing time of income tax returns after verification has been reduced to 10 days for the returns filed for assessment year (AY) 2023-24 compared to 82 days for AY 2019-20 and 16 days for AY 2022-23," CBDT said.

New Delhi: Industry bodies, civil society organizations and consumer groups have raised concerns to the Telecom Regulatory Authority of India over regulation of OTT apps, specifically on the selective banning of OTT apps, as has been proposed by the regulator in its ongoing consultation. In their submission to the TRAI, which is undertaking consultations over OTT regulation, the bodies including Internet and Mobile Association of India (IAMAI), Broadband India Forum, Consumer Unity and Trust Society (CUTS) and Asia Internet Coalition (AIC) comprising nearly a dozen consumer groups, have said that such apps were already regulated under the IT Act 2000 which will be replaced by the upcoming Digital India Act (DIA), hence the ongoing consultations should form part of Digital India Act and any other additional consultations by regulators like TRAI will also lead to overlap of regulatory structure.

Blackstone, Carlyle, PAG, CVC Capital, BPEA EQT, Brookfield Asset Management and Apax Partners, have evinced interest in acquiring Hyderabad-based pharmaceutical company Sai Life Sciences, said multiple people aware of the development. At present, private equity investors TPG Capital holds about 43.3% stake and Swiss-healthcare fund HBM Private Equity India holds 6% stake, while promoter Kanumuri family owns the rest of the stake in Sai Life. The promoter is looking for a valuation of $800 million (₹6,500 crore) for the company, said sources. However, the company is likely to be valued in the range of $500 million (₹4,000 crore), said a PE fund manager who is keen on the buyout.

By Pete Schroeder

Fidelis Capital, a registered investment advisor, announced Tuesday that a team that oversaw $4.5 billion in assets at Bank of America Private Bank has joined the firm.

teacher felicitation ceremony at the Birla Auditorium on Teachers' Day, Gehlot called upon the teachers of the state to impart high values to the students and help develop the spirit of social service among them. The chief minister also honoured 149 teachers from 50 districts at the function. He said the state government has started 'Mission 2030' to make Rajasthan developed and prosperous, in which teachers will also play an important role. Realising the importance of the English language in the present times, the state government has opened Mahatma Gandhi English medium schools in the state. Presently more than 6 lakh students are studying in these schools, Gehlot said. The chief minister inaugurated robotics labs at the 300 Mahatma Gandhi English medium schools.

India a refuelling hub for green ships backed by its target of producing the cheapest green hydrogen, ammonia and methanol in the world, power and renewable energy minister RK Singh said on Tuesday. «The shipping world will go green. Just give it 5-7 years or 10 years.

hospitality industry. Hotels hosting the G20 delegates and visitors during this period made arrangements in advance to avoid last-minute staff shortages, Garg said. “Also, visas for expat chefs were expedited by the ministry of external affairs and consular missions in preparation for the G20 Summit," she added.

₹231 crore. However, Aircastle, Willis Lease Finance and Wilmington are not part of the group of lessors who will receive SpiceJet shares.

NEW DELHI : The government has invited Swiss consultants to help make India’s mountain roads strong and durable to withstand severe weather conditions like heavy rains. After evaluating the highway construction techniques in Switzerland, the ministry of road transport and highways (MoRTH) has sought advice from Swiss companies to design mechanisms to prevent extensive damage to roads, two people familiar with the development said.

Nirmala Sitharaman has emphasized that the focus of the Indian G20 presidency’s finance track was to strengthen multilateral development banks (MDBs) to address the mounting debt challenges faced by developing economies. The G20 under Indian presidency is also working on solutions that can constructively contribute to the efforts that MDBs are undertaking.

The Congress party has expressed its dissatisfaction with the government's apparent lack of transparency regarding the forthcoming special parliamentary session, scheduled to convene from September 18th to the 22nd. In a strongly worded statement, Congress leaders Jairam Ramesh and Gaurav Gogoi voiced their concerns and outlined the critical issues they intend to address during this special session. One of their primary grievances is the government's decision to keep the agenda for the session under wraps, a move that has left many in the opposition perplexed and frustrated.

TikTok has hired British cybersecurity firm NCC to audit its data controls and protections, and provide independent verification, as part of the social media company's data security regime, nicknamed «Project Clover». Several government bodies have banned TikTok from staff phones due to growing concerns about the company, which is owned by Chinese firm ByteDance, and whether China's government could harvest users' data to advance its interests.

Texas, grapples with a concerning uptick in urban crime and crippling staffing shortages, the Austin Police Department has unveiled an unconventional approach to handling robbery incidents. In a stark departure from the norm, the department is urging victims of robberies near ATMs not to dial 911, the emergency hotline, but instead, to utilize the less urgent number, 311.

Tata Power Renewable Energy Ltd (TPREL) will set up a 12 megawatt (MW) on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Maharashtra. In a statement, TPREL said it has already signed a power purchase agreement (PPA) with Tata Motors in this regard. «Tata Motors and Tata Power Renewable Energy Limited (TPREL) have entered into a PPA to develop a new 12MWp on-site solar project at Tata Motors' commercial vehicle manufacturing facility in Pune,» the statement said. The project will generate 17.5 million units of electricity per annum mitigating over 12,400 tonnes of Co2 per annum. «Signing of 12MWp PPA with Tata Motors underlines our critical step forward on the shared goals for a sustainable future.