BUSINESS
India takes fiscal steps for better environmental results: FM at G20 meet
In her address at the G20 High-Level Tax Symposium on Tax Policy and Climate Change, ahead of the third G20 Finance Ministers & Central Bank Governors Meeting, she also said that concessional tax rates are in place in India to promote use of renewables. In a series of tweets, the Ministry of Finance said that the minister shared India's innovative policy mix.
NBFCs, HFCs YoY securitisation volumes likely to have surged in Q1FY22
In a report ICRA cited that due to the Covid-19 pandemic and resultant nationwide lockdown in March 2020, securitisation volumes had fallen significantly in Q1 FY21. As per rating agency's estimate, the securitisation volumes for FY22 could be more than Rs 1.2 lakh crore, of which majority would be in H2FY22 "if there is no resurgence of Covid-19 infections in the country".
Global Covid concerns, likely bearish earnings subdue equities
The S&P BSE Sensex closed at 52,386.19 points, lower by 182.75 points, or 0.35 per cent, from its previous close. "The domestic market continued to be under the grip of bears following weak Asian peers as investor confidence was shattered due to the global spread of Delta virus variant. The equity market is turning risk-averse and side-lined," Geojit Financial Services Head of Research Vinod Nair said.
NSE, BSE take steps for investor protection in case of listed firms' insolvency
This step has been taken to caution investors and provide all required information about the insolvency process of the bankrupt companies to them. However, it is observed that there is a considerable time lag between the pronouncement of oral order by the NCLT and the final written order by the NCLT. The list of securities will also be available on the exchange website.
'Rapid vaccination, better health infra needed for durable economic recovery'
Resilient tax collections of the central government in the first two months of FY 2020-21 and sustained momentum in capital expenditure, particularly in the road and rail sector, augurs well for continued economic recovery driven by capital expenditures, said the Monthly Economic Review for June 2021, released by the Department of Economic Affairs on Friday.
India-UK hold Financial Market dialogue
The Dialogue was led by senior officials from the Indian side by the Ministry of Finance and from the UK, Treasury, with participation from Indian and UK independent regulatory agencies, including the Reserve Bank of India, the Securities and Exchange Board of India, International Financial Services Centre Authority, Insurance Regulatory and Development Authority of India, the Bank of England, and the Financial Conduct Authority.
Airbus India put under 18% GST for services supply to French parent
Airbus Group India went to Karnataka bench of AAR seeking clarity on whether the services rendered by it to its holding company in France qualified as export of services and hence treated as zero rates supply not liable to GST. Airbus Group India Pvt Ltd is a subsidiary of Airbus Invest SAS, France (Holding Company) and its ultimate holding company is Airbus SE, Netherlands.
Equity MFs' net inflows at over Rs 5k cr in June: AMFI
As per the data furnished by the Association of Mutual Funds in India (AMFI) on Thursday, the net inflows stood at Rs 5,988.17 crore. In May, the net inflows had stood over Rs 10,000 crore, while in April, they were Rs 3,437 crore. In March, the equity-linked mutual fund schemes' net inflows stood at Rs 9,115.12 crore. Besides, the contributions through systematic investment rose on a sequential basis last month.
Stock Talk: Top 5 TEXTILE AND APPAREL companies stocks on Sensex today
The Textile industry in India is one of the largest sources of employment generation in the country with more than 45 mn people employed directly in 2018-19. The industry contributes to 7% of industrial output in value terms, 2% of India's GDP and 12% of the country's export earnings.
Paytm is building real revenue while competitors are bleeding double the money for cashbacks: Bernstein
Paytm is building 'real revenue' while its competitors continue to spend heavily on cashbacks and incentives to acquire users: The Bernstein report said, "PhonePe and Google Pay continue investing in providing customer incentives and spend on marketing at 2.5-3.0x revenue (FY20 MCA filings). Paytm has streamlined its marketing spending -- from 1.2x in FY17, to 0.4x in FY20, and now stands at 0.2x of revenue.
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