BUSINESS
Reliance vs DMRC: SC says where is question of negotiation, compelling for a compromise
A bench comprising Justices L. Nageswara Rao and B.R. Gavai asked the DMRC and the DAMEPL to appear before Delhi High Court on January 31 and request it for hearing the dispute relating to execution of the over Rs 7,000 crore arbitral award in favour of DAMEPL at the earliest. Senior advocate Mukul Rohatgi, representing DAMEPL, submitted that there is no defence after the top court has upheld the order. He said: "Let them deposit the money.
Swiggy raises $700 mn, becomes 5th Indian decacron
Before Swiggy, India has seen four 'decacorns' to date -- Flipkart, Paytm, Byju's and OYO. With this funding, Swiggy also surpassed the valuation of its closest rival Zomato that saw its stock hammered and closing at Rs 90.95 on Monday, shrinking its market cap to below $10 billion. In the last few months, Swiggy has expanded Instamart to 19 cities, as grocery delivery becomes the next big thing in the country.
Vodafone Idea shares down over 6% on widening net losses in Q3FY22
The company's net losses widened year on year to Rs 7,230 crore during the Q3FY22. In the same quarter last fiscal, it was Rs 4,532 crore. In Q2FY22, it was Rs 7,132 crore.
The need to prioritise a mustard policy
The unabated and unbridled increase in mustard oilseed prices throughout the year led to the steep rise in mustard oil prices and compelled a large section of mustard oil consumers to switch to imported edible oils that were available at lower price-points and cheaper brands of mustard oil which are mostly adulterated.
Rama Bijapurkar penalised for 'inadvertent trade' after resigning from ICICI Bank board
The Audit Committee of ICICI Bank was notified of this incident. Based on Bijapurkar's submission, it is concluded that this was an inadvertent trade made without any intent to violate the Bank's Code on Prohibition of Insider Trading (Bank's ·Code) or the SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI Regulations), ICICI Bank said in a disclosure last week.
Zomato shares decline further, down 18% in early trade
"Zomato is witnessing a vertical fall and slipped below the low made on a listing day which is not a good sign for any counter. There is a risk-off situation across the globe amid fear of tightening by the US Fed where if we look at the trend then there is a sharp sell-off in growth stocks (new edge businesses) especially loss-making companies," said Santosh Meena, Head of Research at Swastika Investmart.
Measures to widen tax base could be focus area in Union Budget
The policies regarding 'tax effort' could be designed through various ways such as, rationalising tax rates, policies regarding widening tax base and net, and improving tax compliance and tax administration. This process would have enormous implications on ameliorating economic growth, deficit (in both the absolute term and as per cent to GDP) would come down.
India can reach $300 bn electronic manufacturing by 2026: MeitY-ICEA
Indian can reach $300 billion worth of electronics manufacturing and exports by 2025-26 -- nearly four times from the current $67 billion -- if specific product segments with high potential for scale are shortlisted and catered to by way of incentives and policy measures, a new IT Ministry report showed on Monday.
India IT spending to touch $105 bn in 2022: Gartner
Despite the potential impacts of the Omicron variant, economic recovery with high expectations for digital market prosperity will continue to boost technology investments in the country.
UP to set up 4 units to manufacture 'Vedic Paint'
Khadi & Village Industries Commission (KVIC) Varanasi director D.S. Bhati said the units will be set up at Barabanki, Varanasi, Ballia, and Meerut to manufacture the paint. He said the paint is different from the usual ones as it does not contain any chemicals, is made from natural sources, and is just as durable as the other paints.
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