Data recap: Sensex fall, capex, PSU fines, and more
₹10 trillion capex announced in the budget. ₹2,000 crore:That’s the amount of late submission fee the Reserve Bank of India (RBI) has slapped on ONGC Videsh Ltd, Indian Oil Corp. Ltd, GAIL (India) Ltd, and Oil India Ltd for delayed reporting of their overseas investments, Mintreported.
The fine may have a bearing on the state-run energy majors’ overseas work commitments, which has prompted them to seek an extension from RBI. The overall investment by state-owned firms in oil and gas assets abroad stands at around $36.55 billion. With rising income and economic growth, more and more Indians are travelling abroad, with Dubai, London, Bangkok, and Bali among the most-searched destinations, a Mint analysis based on data from Kayak, an American metasearch engine, showed.
In the top 10, both Asian and western destinations have an equal share. Still, travel figures of a number of popular tourist nations are yet to touch the pre-Covid levels. Indian tourist visas are also seeing high rejection rates in key developed countries, Mintreported.
Two years after internet businesses saw a trend of firms listing at rich valuations, the companies from Paytm to Nykaa are under pressure due to their lower-than-listing stock prices, raising concerns over their fundamentals, and business models. However, some of them are showing signs of improvement, with Paytm’s operations generating ₹415 crore of surplus cash in FY23 as opposed to needing cash infusion of ₹1,236 crore in FY22, an analysis byhowindialives.comshowed. 16.1%:That’s the year-on-year growth in income tax returns (ITRs) filed in the assessment year 2023-24, taking the number to 67.7 million, of which 5.37 million were first-time filers.
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