BUSINESS
Paytm's GMV hit Rs 1,469bn in Q4FY21 - 100% growth in one year
In its DRHP, the company defines GMV as "the rupee value of total payments made to merchants through transactions on our app, through Paytm Payment Instruments or through our payment solutions, over a period. It excludes any consumer-to-consumer payment service such as money transfers".
Govt may involve other PSUs promoters to participate in PLL, IGL open offer
Sources said that along with BPCL, other oil PSUs Indian Oil Corpiration (IOC), Oil and Natural Gas Corporation (ONGC) and GAIL India are joint promoters of PLL and IGL. These entities would reduce their share holding in these companies if only BPCL goes ahead with the open offer post privatisation. This would change the PSU status of IGL and PLL, which the government does not intend to pursue at this juncture
Air India lost 56 employees due to Covid till July 14: Minister
V.K. Singh said a total of 3,523 employees of the national carrier have been affected by Covid-19. "Out of this, 56 employees succumbed to the pandemic, till 14th July, 2021." Air India has introduced various measures to safeguard the interests of the employees and their families affected due to the Covid-19 including quarantine leave (Paid Leave) of 17 days to employees who are affected by Covid-19.
Fuel prices remain unchanged for 5th day
Accordingly, in the national capital, petrol continued to be sold at Rs 101.84 per litre, while diesel remained unchanged at Rs 89.87 a litre on Thursday. The pump price of fuel has been static since Sunday. It rose on Saturday with petrol being revised upwards by 30 paisa per litre while diesel prices remained unchanged.
India's online smartphone market to cross 50% in Q2 2021
The 5G smartphone shipments were up from 7 per cent in Q1 2021 to 15 per cent in the second quarter, as nearly every player doubled down on launching 5G-ready affordable devices. "Both April and May were better than expected as we have already mentioned that smartphone market stays resilient and we have seen a strong pent-up demand in June," according to CounterPoint Research.
Sensex zooms over 500 points, Nifty above 15,750
The Nifty50 on National Stock Exchange (NSE) was also trading above the 15,750-mark. The across-the-board rise was led by metal and finance stocks. Around 10.30 a.m., Sensex was trading at 52,743.38, higher by 544.87 points or 1.04 per cent from its previous close of 52,198.51. It opened at 52,494.56 and has touched an intra-day high of 52,774.47 and a low of 52,471.23 points.
ICICI Securities' YoY consolidated net profit up 61%
The consolidated net profit for Q1FY22 rose to Rs 311 crore from Rs 193 crore in Q1FY21, on account of growth in revenue and improvement in margins. According to the company, the rise was aided by strong all-round performance in equities and allied business, distribution business, distribution business, private wealth management business, as well as investment banking business.
RBI allows IDFC to exit IDFC First Bank
In a regulatory filing made to the BSE, IDFC said that the RBI on July 20 clarified that "after the expiry of lock-in period of 5 years, IDFC Limited can exit as the promoter of 'IDFC FIRST Bank Limited'" Accordingly, the company can now exit as promoter of IDFC First Bank, as the five year lock-in period has ended. The IDFC Bank was created by demerger of the infrastructure lending business of IDFC to IDFC Bank in 2015.
'SC order on limitations of timeline applicable only on appeals by taxpayers in GST matters'
The CBIC letter said that tax authorities can continue to hear and dispose off proceedings where they are performing the functions as quasi-judicial authority. This may interalia include disposal of application for refund, application for revocation of cancellation of registration, adjudication proceedings of demand notices, and others.
Byju's acquires US-based Epic for $500mn, to invest $1bn in US
Epic CEO Suren Markosian, and co-founder Kevin Donahue, will remain in their roles and continue carrying out Epic's mission to unlock the potential of every child through reading, the company said. "The alignment of our missions and shared passion makes Byju's the perfect partner, as we're confident this acquisition will ignite excitement for learning around the world," said Markosian.
Don't Miss
Advertisement