#NAMO

World’s second-largest kids’ apparel manufacturer Kitex Group withdraws projects worth Rs 3,500 crore in Kerala, alleges witch-hunt by authorities

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On June 29, Kitex Group, the largest private-sector employer in Kerala, announced the withdrawal of an Rs.3,500 crore investment project from the state. Kitex Group alleged that the state authorities are running a witch-hunt against the company. Notably, Kitex Garments is the second-largest kids’ apparel manufacturer in the world. The company has announced that it is scrapping … Read more

Finance Ministry introduces bill to withdraw retrospective tax and refund collected amounts, says the tax is a sore point for investors

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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

Banks suffer due to bad loans, then economy suffers as banks lend less – Read how ‘Bad Bank’ will break this vicious cycle

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Yesterday the union cabinet approved the setting up of the National Asset Reconstruction Company (NARCL) with the objecting of cleaning the banking sector of bad loans. This institution has been dubbed as ‘Bad Bank’, because it will take over bad debt of nearly Rs 2 lakh crore from banks, cleaning the books of the banks. This is … Read more

Nitin Gadkari asks Tesla not to sell China manufactured cars in India, reveals his conversation with Elon Musk to set up manufacturing in India

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Amid the report of China freshly creating fresh disturbance at the LAC, Union minister of Road Transport and Highway Nitin Gadkari has said that he has told US-based electric vehicle (EV) manufacturer Tesla not to sell China-manufactured cars in India. Gadkari further disclosed a conversation he had with asked Elon Musk, the head of Tesla manufacture. “I have … Read more

Paras Defence: From being oversubscribed 304 times to up more than 370%, why India is betting big on it

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What would be your reaction if you were told that your money grows 5% everyday? Yes, you read that right, 5% upward everyday. Paras Defence and Space Technology is a company that got listed in the stock market just recently. The IPO was subscribed over 300 times, which in itself was a record in Indian … Read more

‘No transparency in Axis deal’: Former Spandana Sphoorty MD Padmaja Reddy drops bombshells. Read full text of the tell-all letter

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A week after submitting her resignation, Padmaja Reddy, founder and former managing director of Spandana Sphoorty Financial, has penned a letter revealing murky details of her tussle with private equity investor Kedaara Capital over a proposal to sell the company to Axis Bank. Reddy has alleged that there was no transparency whatsoever in how the Axis … Read more

PhonePe launches UPI services in Sri Lanka in collaboration with LankaPay, Indians can pay using UPI at LankaQR merchant points

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India’s fintech company PhonePe Unified Payments Interface (UPI) has been launched in Sri Lanka. Central Bank of Sri Lanka Governor Nandalal Weerasinghe and India’s High Commissioner to Sri Lanka Santosh Jha attended the launch event in Sri Lanka. In a post on X, the Indian High Commission in Sri Lanka stated, “Unlocking new frontiers in … Read more

‘Third aircraft carrier soon, will make more’, says Defence Minister Rajnath Singh. Read why carriers are critical for Indian Navy in current global scenario

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The work on India’s third aircraft carrier, one of the long-cherished dreams of the Indian Navy, will start soon, as recently revealed by Defence Minister Rajnath Singh. Speaking with The Tribune, Defence Minister Singh said that India will soon start making its third aircraft carrier and emphasised that India will not stop at three aircraft carriers. He … Read more

Glass ceiling broken: Woman-led fashion unicorn Nykaa makes a robust debut at share market, market cap crosses Rs 1 lakh crore

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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

After a sharp rise, tomato prices to come down soon, here is why

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omato prices are on the rise for almost two months now, which started to increase since the end of September. The rise in tomato prices was first caused by unseasonal rains in northern producing states of Punjab, Uttar Pradesh, Haryana and Himachal Pradesh, which led to damage of crops and delay of arrival of tomatoes … Read more