Adani Logistics Ltd has decided to shut its inland container depot (ICD) at Kilaraipur in Ludhiana after it remained blocked by farmer protesters for seven months. The company took the decision after the Punjab government failed to remove the blockade despite a high court order. This decision has meant that around 400 people will lose their jobs, … Read more
One of the worst legacies of the UPA government carried forward by the Modi government, the provision for Retrospective Tax, is finally set to be buried. The union finance ministry on Thursday informed the Lok Sabha that it is bringing an amendment to the Income Tax Act, 1961 to this effect. The move comes even as the … Read more
PepsiCo India has chosen Uttar Pradesh to set up its largest greenfield foods plant to manufacture potato chips. UP CM Yogi Adityanath on Wednesday (September 15) inaugurated the leading global food and beverage company’s largest greenfield foods plant worth Rs 814 crore in Kosi Kalan in Mathura. It may be noted that the company had taken an exit route … Read more
NDTV shares on Monday zoomed to hit its upper circuit of 10 per cent after rumours started doing rounds that Adani Group is going to buy the company. As of 1:19 PM on September 20, the share price of NDTV was hovering around Rs 79.85, up by Rs 7.25 or 9.99 per cent today, which … Read more
Personal and Body care brand Nykaa made an outstanding debut on the Indian stock exchanges on Wednesday, with shares listing at a premium of up to 79 percent compared with the issue price. On Bombay Stock Exchange, the stock of FSN E-Commerce Ventures — the parent organisation of Nykaa — was listed on the secondary market at … Read more
Shares in online payment platform giant PayTM fell as much as 26 % in their market debut, minutes after debuting on the stock market as India’s biggest ever Initial Public Offering (IPO). The shares opened for trading at ₹ 1,950 on the National Stock Exchange (NSE), at a decline of 9.3 per cent or ₹ 200 from its issue … Read more
The Enforcement Directorate (ED) has summoned the top management of Amazon Inc. and Future Coupons Pvt Ltd. (FCPL) for questioning and verification of documents in connection with their August 2019 deal. The ED has summoned Amazon’s India head, Amit Agarwal, besides promoters of the Future Group to turn up next week at the New Delhi headquarters of … Read more
In a cabinet meeting chaired by PM Narendra Modi on Wednesday, the Union Cabinet approved an incentive scheme for the development of the semiconductors and display manufacturing ecosystem in India. The cabinet approved an incentive of ₹76,000 for the development of the semiconductors and display manufacturing ecosystem in India. With this, the total amount of incentives announced … Read more
The 2019 Amazon deal with Future Coupons, a unit of Future Retail Ltd, has been suspended by the chief national competition regulator in India, the Competition Commission of India (CCI). In addition, the regulatory body has also fined the US e-commerce giant Rs 200 crore for concealing facts while obtaining approval for the deal. The CCI said … Read more
On Monday, May 13, Maldives’ government thanked the Indian government for providing budgetary support worth $50 million. The support was extended in the form of a rollover of a $50 million treasury bill for one more year which was done through the State Bank of India’s branch in the Maldivian capital of Male. The financial … Read more