UPS Financial News

24.07 / 11:51

UPS Citi Fighting Metro Injustice stage "Raw deal in budget": Karnataka to boycott July 27 Niti Aayog meet to be chaired by PM

Niti Aayog meeting scheduled for July 27 in Delhi to protest what Chief Minister Siddaramaiah called “raw deal” to the state in the budget Finance Minister Nirmala Sitharaman presented on Wednesday.

24.07 / 11:51

UPS Provident economy inclusion innovations recommendations rights The budget’s holistic approach promises inclusive economic growth

₹1.4 trillion in the previous budget (revised estimate) to an estimated ₹1.47 trillion. Boosting employment and employability was rightly given utmost priority in this year’s budget. The announcement of three employment-linked incentive (ELI) schemes for first-time workers, job creation in manufacturing and support for employers are in line with CII recommendations.

24.07 / 11:51

UPS Provident Progressive security economy social Sizing up the 3 new job incentive schemes announced in the Budget

Read this | Mint Primer: The budget in 5 minutes The one thing we know is the three schemes are framed in formal-sector employment. This takes the shape of workers being registered with the Employees’ Provident Fund Organisation (EPFO), which is mandatory for firms with 20 employees or more. In the last few years, net new EPFO enrolments have risen progressively, with first-time employees aged 25 years and below accounting for about 50% of net additions to EPFO payrolls.

24.07 / 11:35

COST UPS Experts country cover shock Budget 2024: 3.5x surge in capital gains tax on CCDs stuns foreign investors

Mumbai: India’s latest union budget had a rude shock for foreign investors because their tax liability on capital gains in the country will surge across asset classes, experts said, which is likely to make them weigh the impact of the move before investing in the country. The biggest hit will be on foreign direct investments (FDI) in compulsorily convertible debentures (CCD), where the income tax rate on capital gains has gone up to 35% from 10%. Earlier, gains on unlisted CCDs held directly by foreign companies for more than three years were treated as long-term capital gains (LTCG) and taxed at 10%.

24.07 / 11:33

UPS Target Manufacturing Mobile electronic information Mobile, component makers cumulatively invest Rs 8,282 crore under PLI scheme till June

PLI scheme for large scale electronics manufacturing have cumulatively invested Rs 8,282 crore till June 2024, Parliament was informed on Wednesday. Minister of State for Electronics and IT Jitin Prasada in a written reply to Lok Sabha said that a total of 32 companies were approved with committed investment of Rs 11,324 crore and a projected production target of Rs 10.7 lakh crore under the PLI (Production Linked Incentive) scheme for Large Scale Electronics Manufacturing.

24.07 / 11:30

UPS Provident Action wellness Interviews Relationships Budget proposals lay ground for long term reforms: NITI Aayog VC

NITI Aayog vice chairman Suman Bery on Wednesday said the review of the direct tax and the custom's duty rates as announced by the Finance Minister in her Budget speech will prepare the ground for long term reforms. Bery further said that the Budget for 2024-25 was a structural budget, which will help in improving labour productivity by building a relationship between the workforce and the private sector.

24.07 / 11:28

UPS Citi Target wellness Celebrity country Doesn't take long for time to change: Selja cautions Nitish Kumar, Chandrababu Naidu

Budget a collection of «jumlas», senior Congress leader Selja cautioned NDA members Nitish Kumar and N Chandrababu Naidu that they may celebrate today for getting a large share but it doesn't take long for time to change. Selja initiated the discussion on the Budget and questioned how target groups were identified without a caste census.

24.07 / 11:27

UPS IPO Strategy Wildlife hospital travelers Jungle Camps India aims Rs 100 cr revenue by 2028; firms up IPO plans

wildlife and conservation-focused lodges to guests, on Wednesday announced plans to achieve Rs 100 crore in revenue by FY28 from Rs 18 crore in FY24. In line with its growth strategy, the Delhi-headquartered company has set its sights on an Initial Public Offering (IPO) to fund its expansion plans. Jungle Camps India clocked a total revenue of Rs 18.10 crore and a profit after tax (PAT) of Rs 3.59 crore in FY24, compared with total revenue of Rs 11.24 crore and PAT of Rs 45 lakh in FY23, registering a healthy growth of 61 per cent in revenues and a five-fold jump in profit.

24.07 / 11:24

markets UPS Trade rock Updates Multimedia Stock market update: Nifty Pharma index advances 0.74%

Shares of Natco Pharma Ltd.(up 4.63 per cent), Biocon Ltd.(up 3.25 per cent), Zydus Lifesciences Ltd.(up 2.67 per cent), Sanofi India Ltd.(up 2.64 per cent) and Granules India Ltd.(up 2.13 per cent) ended the day as top gainers in the pack.

24.07 / 11:20

UPS Manufacturing security electronic 2020 Relationships Modi govt may ease curbs on some Chinese investments

India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said.

24.07 / 11:17

COST UPS Provident cover International Explained: Govt's new internship scheme for employable youth in top companies

Skill development and creation of employable youth with skills for future is one of the key themes of the Union Budget 2024. With this objective, the Government has rolled out a new internship scheme for 500 top companies in India. Though participation under the scheme is voluntary, it does have benefits that organisations may want to explore to build workforce for future.

24.07 / 11:16

markets UPS Enterprise Trade rock Updates Stock market update: Nifty Realty index advances 0.78%

Shares of Prestige Estates Projects Ltd.(up 7.13 per cent), Oberoi Realty Ltd.(up 3.31 per cent), Mahindra Lifespace Developers Ltd.(up 2.92 per cent), Sobha Ltd.(up 2.85 per cent) and Macrotech Developers Ltd.(up 2.22 per cent) ended the day as top gainers in the pack.

24.07 / 11:12

markets UPS Food Nestle wellness Updates Stock market update: FMCG stocks up as market falls

Heritage Foods Ltd.(up 5.00%), ADF Foods Ltd.(up 4.49%), Varun Beverages Ltd.(up 4.09%), Zydus Wellness Ltd.(up 4.05%), Umang Dairies Ltd.(up 3.32%), Bajaj Consumer Care Ltd.(up 2.40%), Mrs. Bectors Food Specialities Ltd.(up 2.36%), Patanjali Foods Ltd.(up 2.36%), Gillette India Ltd.(up 1.98%) and Bikaji Foods International Ltd.(up 1.92%) stood among the top gainers.

24.07 / 11:09

markets UPS FIVE wellness President country Nissan looks to rev up India operations; lines up product launches over next 30 months

Nissan is looking to introduce five models over the next 30 months, as it looks to reboot its operations in the fast-growing Indian car market. The company, which is selling just one model in the country currently, is planning to drive in two mid-size SUV models (one five-seater and one seven-seater), one electric SUV and a refreshed version of its compact SUV Magnite.

24.07 / 11:02

markets UPS Target country blues inclusion Budget to boost leather and footwear sector, says Rajendra Kumar Jalan, Chairman, CLE

Union Budget 2024-25 will stimulate exports and employment generation in leather and footwear sector, acording to Rajendra Kumar Jalan, Chairman, Council for Leather Exports (CLE).

24.07 / 11:01

UPS Provident FIVE Booking show Department Budget 2024 reduces time limit for ITR reassessment, gives compliance relief to taxpayers with foreign assets

MUMBAI: Union finance minister Nirmala Sitharaman has reduced the time limit for reopening old income tax returns (ITRs) for reassessment.

24.07 / 10:50

markets UPS Provident Target Reuters Citizens Govt may cut borrowing if small saving inflows are high, official says

borrowing later in the financial year if inflows into national small saving schemes (NSSF) are high, Economic Affairs Secretary Ajay Seth told Reuters on Wednesday.

24.07 / 10:38

UPS Fighting War country volunteers Ukraine grapples with motivating new millitary recruits

troops moved through the forest in east Ukraine at dawn, imitating assault rifle fire while searching for non-existent Russians between the trees.

24.07 / 10:37

UPS Provident FIVE economy Research wellness innovations A nine-lane expressway ahead: Sitharaman's plans to speed up India

Union Budget presented by Finance Minister Nirmala Sitharaman yesterday was unique among all the budgets presented by her in that it offered a long-term roadmap for a developed India, an aim set by the government called Viksit Bharat. At the start of the Parliament’s Budget session, a day before the budget was presented, Prime Minister Narendra Modi said the budget will further the goal of a ‘Viksit Bharat’ by 2047.

24.07 / 10:30

UPS FIVE Manufacturing track travelers Vande Bharat or Aam Aadmi Rail? How world's largest transporter has changed over a decade

Finance Minister Nirmala Sitharaman, focuses on balancing increased spending on jobs and rural development with transferring more funds to states, while narrowing the fiscal deficit. However, it offered limited new announcements for the Railways, mentioned only once in the Finance Minister's 83-minute speech.

24.07 / 10:25

UPS Discover show recommendations Videos Destinations Sporting Prime Video launches new streaming features to enhance user experience

Prime Video is enhancing its user experience with generative AI-powered personalised recommendations that have rolled out globally starting July 23 and will be available to all the customers in the coming weeks.

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