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ZEE Entertainment Enterprises (ZEE), MD & CEO, Punit Goenka on Tuesday announced his decision to implement a 20 per cent reduction in his remuneration. «Frugality, Optimization and a Sharp Focus on Quality Content are the three key tenets of the plan implemented by Punit Goenka, to drive the Company to the targeted goals; and the above mentioned voluntary decision, is in line with this approach,» Zee said in a statement. In FY23, Goenka received a remuneration of Rs 35 crore, including Rs 21 crore in salary and allowances, Rs 9 crore in variable pay, a one-time payment of Rs 5 crore, and a provident fund contribution of Rs 0.2 lakh, according to the company’s annual report.

electric vehicle policy will help global carmakers expedite decisions on investing in manufacturing EVs in the country besides allowing brands gauge customer response to premium EV models in a value conscious market, said a senior executive at the local arm of Czech carmaker Skoda Auto. Speaking to ET, Petr Janeba, brand director, Škoda Auto India said the policy will make high-end EVs more popular in the Indian market as there will be a lot of variety to choose from. “The Volkswagen (VW) Group is committed to invest in India, so any such policy will help in expediting the decisions. We are now in the middle of calculations. With the new policy, it looks more positive than before,” said Janeba, who joined the Indian operations in January. He did not elaborate.

Ukrainian drone struck Russia's third largest oil refinery on Tuesday about 1,300 km (800 miles) from the front lines, hitting a unit that processes about 155,000 barrels of crude per day though an industry source said the damage was not significant. Russian officials said its jamming devices locked onto a Ukrainian drone near Tatneft's Taneco refinery, which has an annual production capacity of more than 17 million tons (340,000 barrels per day). Pictures from the scene indicated the drone hit the primary refining unit, CDU-7, at the refinery, though the drone appears to have not done serious damage.

cement prices lately in eastern and southern regions. While prices have dropped across markets, the excess capacity in these two regions has meant a sharper drop vis-à-vis all-India average. Given Dalmia’s significant exposure in these regions, muted price trends have raised concerns about its realisation and profitability outlook.

₹40,000 after forex conversion). Vasani was not the only Axis Bank credit card holder targeted that day. There were many others, all Axis Banks customers, who were victimized by a series of international fraudulent transactions .

Adani Enterprises share price that has risen 90% in last year has more than doubled from lows seen in February last year. Analysts at Jefferies India Limited however expect almost 17% upside for Adani Enterprises led by commissioning of Copper unit first phase and expansions being undertaken during second phase. The target price of Jefferies for Adani Enterprises stands at ₹3800 while the stock is trading at close to ₹3260 levels.

NEW DELHI : Nazara Technologies, India's only publicly-listed gaming company, aims to scale its game development division's annual revenue from approximately ₹350 crore in FY23 to ₹1,000 crore by the end of FY25, by leveraging an ₹850 crore fund allocated for mergers and acquisitions. As part of its acquisition strategy, Nazara's game development and publishing arm will target both Indian and global gaming platforms, and increase its contribution to the group's overall revenue, Nitish Mittersain, chief executive, said in an interview. “In India, we’ll look at developers with early-stage IP, while for global firms, we’ll look at developers with more scaled-up IP, strong profitability and cash flow.

run out of money. Some economists therefore think that the central government will need to set up a fund to take over unfinished projects or guarantee property prepayments, much as bank deposits are guaranteed. It is also unclear how much fiscal stimulus the central government is prepared to provide.

tax collection target of over Rs 34.37 lakh crore for 2023-24 on the back of robust economic activity and improved compliance, an official said. «Overall targets for tax revenue have been met,» the official told PTI. The government had raised the target for direct tax collection in FY24 (April 2023 to March 2024) to Rs 19.45 lakh crore, while for indirect taxes (GST+ Customs + Excise) the target was lowered to Rs 14.84 lakh crore in the revised estimates (RE) presented in Parliament on February 1, 2024. The net direct tax collections (comprising corporate tax and personal income tax) reached over Rs 18.90 lakh crore as of March 17.

Manav Chopra, Director- Technical Analyst, Nuvama Institutional Equities, says in general, Nuvama likes metals, defence, power and mid-tier PSU banks. That is how they have selected the stocks within this space. Further, he says usually, markets do not remain oversold for a longer period of time in an ongoing bull market. That is what has been witnessed recently in the midcaps and smallcaps. After the kind of reversals that was witnessed in the broader spaces, a lot of frontline names have not only seen a good rebound rally, but a few sectors within the midcaps and the smallcaps have also extended their gains and reached all-time highs.

₹199.55 apiece on the BSE on Tuesday after global brokerage firm Macquarie initiated coverage on the stock with an ‘Outperform’ rating. Macquarie has set Aditya Birla Capital share price target at ₹230 for the next 12 months, implying an upside potential of over 26% from Monday’s closing price and is its top pick among NBFCs.

Traya has raised Rs 75 crore in funding from Mumbai-based private equity fund Xponentia Capital. The firm offers a range of products targeting issues like hair loss. Previous to this, Traya has raised about $3 million from the likes of Fireside Ventures, Stride Ventures, Kae Capital and Whiteboard Capital.

government bond yields rose on Tuesday as a spike in Treasury yields and a shift in the domestic debt auction methodology weighed on sentiment in the first trading session for debt markets in the new financial year. However, the rise was capped by the government's plan to auction a new 10-year bond on Friday, which will replace the existing benchmark soon.

The Nifty future closed positive with gains of 0.54% at 22,610 levels on Monday. India VIX was down by 5.84% from 12.83 to 12.08 levels.

Intraday trading stocks for today: Following the bull trend in the global market, the Indian stock market ended higher on Monday for the third straight session. Out of three frontline indices, the Nifty 50 and the BSE Sensex hit a new lifetime high that further cemented the bulls' control over the bears. However, the broad market outshined the key benchmark index as the small-cap index shot up nearly 3 percent and the mid-cap index gained to the tune of 1.64 percent.

Stock market today: On account of positive global market sentiments, the Indian stock market ended higher for the third day in a row on Monday. The Nifty 50 index hit a new peak of 22,529 whereas the BSE Sensex touched a new lifetime high of 74,254. The Bank Nifty index finished 453 points higher at the 47,578 mark.

For all the policy promotion of electric vehicles (EVs), their sales figures in India have been a disappointment as far as four-wheelers go. Even hybrid cars, which get no policy push, have lately been selling more. Consider the automobile sales numbers for 2023-24.

FAME scheme on March 31.. The govt had earlier said that subsidies under the second phase of Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme scheme will be eligible for e-vehicles sold till March 31, or till the time funds are available.

Mint, Geoffrey Nagpal, Ebco’s managing director, confirmed the fundraising plans. “Ebco is currently running a process to invite large private equity funds to help it grow its business," said Nagpal, who is the second generation of the promoter family. “The promoters will remain significant partners along with the PE fund to drive growth in the business, through investments in manufacturing, branding and product development." Spokespersons of TPG, Kedaara Capital and KKR declined to comment.

Buy or sell stocks: Following positive global cues on US Fed rate cut buzz, the Indian stock market ended higher for the third straight session on Monday. The Nifty 50 index gained 135 points and closed at the 22,462 level, and the BSE Sensex shot up 363 points and regained the 74,000 level. After regaining the psychological 74,000 levels, the 30-stock index went on to touch a new lifetime high of 74,254.62 mark.

Reserve Bank of India (RBI) to seek a bigger global role for the rupee through the next decade to match New Delhi’s world-beating rates of economic expansion, fixing a significant milestone target in what would be the local currency’s long journey toward capital account convertibility. “Today, India is becoming an engine of global growth with a 15% share of the total,” Modi said at the 90 th Foundation Day of the RBI. “Efforts should be made to make the rupee more accessible and acceptable all over the world.” The RBI has lately pioneered the digitisation of payments through the Unified Payments Interface (UPI), a platform many developing and developed nations are keen to use. It has also helped improve the asset quality of Indian lenders through a determined clean-up drive, aided by a revamped bankruptcy law.