SUNAINA

Infosys reported on Thursday that Karnataka state authorities have withdrawn the Rs 32,403 crore GST demand ‘pre-show cause’ notice and directed it to respond further to the Directorate General of GST Intelligence (DGGI). This notice, related to services from Infosys’s overseas branches for July 2017 to March 2022, was received on Wednesday. Infosys maintains that … Read more

Road Transport and Highways Minister Nitin Gadkari announced plans to award road contracts worth Rs 3 lakh crore within three months and aim for Rs 5 lakh crore by the end of the financial year. Due to the Lok Sabha elections and the model code of conduct, initial project awards were slow. The National Highways … Read more

Food delivery aggregator Zomato is launching “District,” a new platform consolidating dining, movies, sports ticketing, live performances, shopping, and staycations, CEO Deepinder Goyal announced. In a shareholder letter post-Q1 financial results, Goyal highlighted “District” as Zomato’s potential third major B2C business, expanding on its dining-out segment. The dining-out business operates at over USD 500 million … Read more

Electric two-wheeler company Ola Electric Mobility mobilized Rs 2,763 crore from anchor investors ahead of its IPO opening on August 2. The anchor round included SBI Mutual Fund, HDFC MF, Nippon India MF, and others. Ola allotted 36.35 crore equity shares at Rs 76 each to 84 funds. The IPO, with a price band of … Read more

Gross GST collections in July rose by 10.3% to over Rs 1.82 lakh crore, according to official data released on Thursday. Total refunds for the month amounted to Rs 16,283 crore, resulting in a net GST collection of over Rs 1.66 lakh crore, reflecting a 14.4% growth. Domestic gross revenues increased by 8.9% to Rs … Read more

Tata Motors reported an 11% year-on-year decline in total sales for July, with units sold dropping to 71,996 from 80,633 in July 2023. Domestic sales also fell 11%, totaling 70,161 units compared to 78,844 units last year. Passenger vehicle sales, including electric vehicles, decreased by 6% to 44,954 units from 47,689 units. Commercial vehicle sales … Read more

The success of ISRO’s Chandrayaan-3 mission has sparked interest among startups in the Indian space sector, said former ISRO scientist Nambi Narayanan. At the launch of the space tech accelerator “Vaanam,” Tamil Nadu Industries Minister TRB Rajaa emphasized the need to celebrate ISRO’s achievements. Vaanam, co-founded by Sameer Bharat Ram and Hariharan Vedamurthy, aims to … Read more

Shares of Adani Energy Solutions jumped over 8% on Thursday after the company raised USD 1 billion through a share sale, the first since the Hindenburg report. The stock rose 8.34% to Rs 1,232.95 on NSE and 7.92% to Rs 1,227.75 on BSE. In intraday trade, shares hit a high of Rs 1,236.70 on BSE … Read more

Strategic reforms are essential to make India more attractive to global investors, as the country has not fully capitalized on its potential, stated the think tank – Global Trade Research Initiative (GTRI) on Thursday. India attracted USD 44.4 billion in FDI in FY2024, just 1.1% of its GDP, lagging behind countries like China (USD 189.1 … Read more

Shares of Maruti Suzuki India rose over 2% on Thursday morning after the company reported a 47% increase in net profit to Rs 3,650 crore for the June quarter. On the NSE, the stock climbed 2.30% to Rs 13,417.05, while on the BSE, it rose 2.06% to Rs 13,439.55. Intraday, shares hit a 52-week high … Read more