Business
29% of NDTV acquired without discussion, consent or notice
Without any discussion with New Delhi Television Limited (NDTV) or its founder-promoters, Radhika and Prannoy Roy, a notice was served upon them by Vishvapradhan Commercial Private Limited (VCPL) stating that it (VCPL) has acquired control of RRPR Holding Private Limited (RRPRH). This entity owns 29.18% of NDTV. It has...
Paytm surges 4% on reappointment of Vijay Shekhar Sharma as MD
Shares of One97 Communications, which operates the financial services platform Paytm, gained nearly 4 per cent on Monday after shareholders of the company approved the re-appointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company. The resolution to reappoint Vijay Shekhar Sharma as Paytm’s...
Radhakishan Damani to head Rakesh Jhunjhunwala Trust
Trusted friend, guru and ace investor-entrepreneur Radhakishan Damani is understood to be the main trustee of ace investor Rakesh Jhunjhunwala’s estate. The other trustees include Kalpraj Dharamshi and Amal Parikh, both confidantes of Jhunjhunwala. Jhunjhunwala’s firm Rare Enterprises will continue to be managed by his two trusted lieutenants Utpal...
GST rate hikes to pressure prices upwards: RBI
The impact of recent changes to GST rates and somewhat uneven distribution of the southwest monsoon rainfall with the deficiency in the eastern region of the country could be a source of upward pressure on prices, according to the minutes of the RBI’s Monetary Policy Committee (MPC). It also...
M-cap of five of top-10 firms declines Rs 307 billion
Five of the top-10 valued firms together lost Rs 30,737.51 crore in market valuation last week. In the holiday-shortened week, the Sensex advanced 183.37 points or 0.30 per cent. While Reliance Industries, Tata Consultancy Services, ICICI Bank, State Bank of India and Bajaj Finance were the laggards from the...
Centre denies plan to import wheat, says stocks sufficient
The government has no plan to import wheat into India and the country has sufficient stocks to meet its domestic requirements and the Food Corporation of India (FCI) has enough stock for public distribution. The Department of Food & Public Distribution said this on Sunday in response to media...
Real-time payments solution UPI to remain free
The Finance Ministry on Sunday said United Payments Interface (UPI) is a digital public good and there is no consideration in the government to levy any charges on this. This statement allays fear emanating from the RBI’s discussion paper on charges in the payment system suggesting that UPI payments...
Retail inflation in July falls to 6.7%
The retail inflation in India, based on the Consumer Price Index (CPI), declined to 6.7 per cent in July, compared with 7.01 per cent in the previous month. This is the third month in a row to see an easing in the retail inflation. food inflation in July 2022...
India’s exports up 2.14% to $36.27 billion in July; trade deficit triples
India’s exports rose by 2.14 per cent to $36.27 billion in July while the trade deficit almost tripled to $30 billion during the month, according to official data released on Friday. Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the...
IRCTC shares decline despite 251% jump in June quarter revenue
IRCTC Shares Today: Indian Railway Catering and Tourism Corporation (IRCTC) shares were trading lower in the opening trade on Thursday morning. IRCTC posted a 196 per cent surge in its net profit, at Rs 246 crore, for the quarter ending June 30, 2022-23 (Q1 FY23). It reported a net...
