CAIT requests FM Sitharaman to defer GST, income tax compliance by 3 months
Sun, Apr 25, 2021 2:34 PM

CAIT requests FM Sitharaman to defer GST, income tax compliance by 3 months

Confederation of All India Traders (CAIT) requested the govt to defer as many as 11 compliances under Goods and Services Tax (GST) and 15 compliances under the Income Tax Act by 3 months in the wake of the Covid crisis in the country. The confederation, which represents around 8 crore traders across 40,000 trade associations in India, requested FM in a communication to postpone these compliances.

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World’s industrial comeback steers metals to multi-year high
Sun, Apr 25, 2021 2:27 PM

World’s industrial comeback steers metals to multi-year high

Industrial metals from copper to aluminium to iron ore have rallied to the highest level in years. Copper, critical for electrical wiring to motors broke out of its recent range to trade near the highest since the last supercycle as industrial operations ramp up worldwide. Iron ore, aluminium and steel are meanwhile gaining on speculation that production cuts will shrink supplies.

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Green certificates trading shrinks to 9.2 lakh in 2020-21
Sun, Apr 25, 2021 2:24 PM

Green certificates trading shrinks to 9.2 lakh in 2020-21

The renewable energy certificates market shrank to 9.2 lakh RECs in 2020-21 while 60.58 lakh RECs piled up till March-end due to a halt in trading, which also impacted the ability of distribution companies to meet their RPO. According to industry data, an inventory of 60.58 lakh RECs piled up till March 31, 2021, which includes 7.71 lakh solar and 52.88 lakh non-solar green certificates.

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Foreign portfolio investors withdraw Rs 7,622 crore so far in April
Sun, Apr 25, 2021 2:20 PM

Foreign portfolio investors withdraw Rs 7,622 crore so far in April

Overseas investors pulled out a net Rs 7,622 crore from Indian markets in April so far as a surge in COVID-19 cases and the consequent restrictions imposed by various states dent investors' sentiment. According to the depositories data, overseas investors pulled out Rs 8,674 crore from equities but invested Rs 1,052 crore in the debt segment.

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Ather Energy aims to become profitable by next year
Sun, Apr 25, 2021 2:17 PM

Ather Energy aims to become profitable by next year

Hero MotoCorp-backed electric two-wheeler maker Ather Energy is eyeing to turn profitable at the operating level by next year and it looks to raise capital to fund its future business expansion programme, according to a top company official. The company is looking to use its '450 platform' to spin more variants and also enter the mass market electric two-wheeler segment.

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Nine out of top 10 companies' market valuation tanks Rs 1.33 lakh crore
Sun, Apr 25, 2021 11:52 AM

Nine out of top 10 companies' market valuation tanks Rs 1.33 lakh crore

Nine of the 10 highly valued firms experienced a combined erosion of Rs 1,33,433.64 crore from market valuation in-tandem with a weak broader market trend last week. Hindustan Unilever Ltd was the biggest loser with its market cap plunging by Rs 34,914.58 crore to reach Rs 5,42,292 crore at close on Friday. Tata Consultancy Services lost 30,887.07 crore in valuation to Rs 11,50,331 cr.

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Srei Equipment Finance receives EoI from Cerberus Global
Sun, Apr 25, 2021 11:12 AM

Srei Equipment Finance receives EoI from Cerberus Global

Srei Equipment Finance (SEFL) has received an expression of interest for equity infusion of an undisclosed amount from global private investment firm Cerberus Global Investments. SEFL is a wholly-owned subsidiary of Srei Infrastructure Finance Limited. New York-headquartered Cerberus comprises one of the world's leading private investment firms with approximately $53 billion under management.

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📌 Check out the companies declaring Q4 Results tomorrow (April 26)!
Sun, Apr 25, 2021 10:27 AM

📌 Check out the companies declaring Q4 Results tomorrow (April 26)!

The fourth quarter is the three-month period (usually from Jan to Mar) that acts as a basis for periodic financial reports and the paying of dividends. Top 5 companies declaring Q4 Results tomorrow (April 26, 2021): [1] Tech Mahindra, [2] SBI Cards and Payment Services, [3] HDFC Life Insurance Company, [4] Castrol India, and [5] Snowman Logistics.

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HDFC Bank deploys mobile ATMs for convenience in transactions
Sun, Apr 25, 2021 10:17 AM

HDFC Bank deploys mobile ATMs for convenience in transactions

HDFC Bank on Saturday announced it has deployed mobile automated teller machines (ATM) in 19 cities in view of the rising COVID-19 cases and lockdown-like restrictions in various parts of the country. This will help eliminate the need for the general public to move out of their locality to withdraw cash. Customers can conduct over 15 types of transactions using the Mobile ATM.

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Turkey crafting broader crypto regulations, central bank head announces
Sun, Apr 25, 2021 10:14 AM

Turkey crafting broader crypto regulations, central bank head announces

Turkey's Finance Ministry is working on wider regulations concerning cryptocurrency transactions, Central Bank Governor Sahap Kavcioglu announced on Friday, adding the bank does not intend to ban them. In an interview with Turkish broadcasters, Kavcioglu said some details would be ready in two weeks. The central bank last week banned the use of crypto assets in payments citing significant risks.

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DmKH & Co appointed as another forensic auditor of Srei
Sun, Apr 25, 2021 10:08 AM

DmKH & Co appointed as another forensic auditor of Srei

After the appointment of KPMG as a forensic auditor of Srei Infrastructure Finance has also hired another forensic auditor, DmKH & Co, as per the advice of the independent directors as good governance. Notably, the RBI appointed an auditor in November last year to conduct a special audit of Kolkata-based NBFC Srei Infrastructure Finance and its wholly-owned unit Srei Equipment Finance (SEFL).

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Twitter takes down tweets critical of India’s Covid Response
Sun, Apr 25, 2021 10:04 AM

Twitter takes down tweets critical of India’s Covid Response

Twitter complied with a government order to take down tweets criticising the government’s response to the Covid pandemic. As the public healthcare system cracks under the burden of the second wave of the pandemic in India, social media platforms like Twitter have been abuzz with many blaming the Narendra Modi government for failing to procure enough oxygen, medication and vaccines.

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🚀  Top 5 Penny Stocks with Good Promoter Holding and 0 Debt | FlipItFacts
Sat, Apr 24, 2021 10:00 PM

🚀 Top 5 Penny Stocks with Good Promoter Holding and 0 Debt | FlipItFacts

Here's the list of top 5 penny stocks (in terms of market capitalization) with promoter holding > 50% and zero debt - [1] RattanIndia Ent (MCap - 1119.64 Cr) [2] Sh.Global Trad. (MCap - 368.06 Cr) [3] Generic Pharma (MCap - 250 Cr) [4] IL&FS Inv.Manag. (MCap - 155.45 Cr) [5] Surat Textile (MCap - 73.95 Cr). Do you think investing in penny stocks is good for long-term growth? Let us know!

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WhatsApp's Privacy Policy violated India’s IT Rules on 5 counts : MeitY
Sat, Apr 24, 2021 9:13 PM

WhatsApp's Privacy Policy violated India’s IT Rules on 5 counts : MeitY

India’s Ministry of Electronics and Information Technology (MeitY) on Friday (April 24) filed an affidavit in the Delhi High Court reiterating that WhatsApp’s privacy policy violated the Information Technology Rules (IT Rules), 2011 on five counts. The affidavit was filed in response to a case filed by advocate Chaitanya Rohilla in January.

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ICICI Bank offered Rs 175 crore for compound interest refund
Sat, Apr 24, 2021 9:07 PM

ICICI Bank offered Rs 175 crore for compound interest refund

ICICI Bank on April 24 reported that it provided Rs 175 cr to refund the interest-on-interest amount to borrowers on the moratorium loans. In accordance with the RBI notification dated April 7, 2021, the Bank is required to refund/adjust 'interest on interest' to borrowers. The methodology for calculation of such interest on interest has recently been circulated by the Indian Banks' Association.

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