BUSINESS
March GST collection surges to over Rs 1.23 lakh Cr
Accordingly, the GST revenues during March 2021 are the highest since the introduction of the tax. "In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year," the Finance Ministry said in a statement.
RIL target price at Rs 2,500: JM Financial
JM Financial said in a report that Jio's subscriber momentum could be bottoming out, given its aggressive strategy to acquire significant quantities of the capacity spectrum to regain subscriber momentum via its new Jio Phone offers and the impending launch of the low-cost smartphones.
Equity indices in green, metal stocks surge
Around 10.40 a.m., Sensex was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15. It opened at 49,868.53 and has touched an intraday high of 49,942.84 and a low of 49,653.67 points. The Nifty50 on the National Stock Exchange was trading at 14,750.45, higher by 59.75 points or 0.41 per cent from its previous close.
Reliance infra & YES Bank announce sale transaction of Reliance Centre to YES Bank
Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days. Rinfra has closed three major transactions in the last 90 days namely the sale of road assets -- Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz.
Government withdraws decision to lower small savings rate
In a decision, which would have delivered a blow to savers who depend on small savings schemes for income and social security, the Ministry of Finance on Wednesday announced the reduction in the small savings rate to 3.5 per cent for the first quarter of the financial year starting April 1, 2021.
Indian tech services revenues to hit $300-350 bn by 2025: Nasscom
This will require closer collaboration among stakeholders across the private sector, academia, and the government, said the report titled "Future of Technology Services -- Winning in this decade." The technology services sector now produces about 27 per cent of India's exports and provides livelihoods to about 44 lakh people, Nasscom said.
World trade to grow by 8% in 2021: WTO
The global trade body said prospects for a quick recovery in world trade have improved as merchandise trade expanded more rapidly than expected in the second half of last year. "World merchandise trade volume is expected to increase by 8 per cent in 2021 after falling 5.3 per cent in 2020, a smaller decline than previously estimated," the WTO said in a press release, Xinhua reported.
Tata-Mistry: Amid high valuation, SP Group's exit from Tata Sons may take time
A major contention between the two groups is the difference over the exact value of SP Group's stake in the holding company of the industrial conglomerate. Besides the simmering differences over the stake value, even the intention of a transaction to buy out the minority holding is still not clear.
Sterling & Wilson's US arm bags Rs 890cr contract
In a regulatory filing, Sterling and Wilson Solar said that the order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4 FY 2022. SWSS will be managing the entire turn-key execution for the PV project. The US market is one of the largest renewable markets globally and it has been the Company's focus to become a significant player in this very important market.
SBI raises additional $1B untied loan with JBIC
According to the lender, the loan is intended to promote 'smooth flow of funds' for the whole range of business operations of Japanese automobile manufacturers in India. SBI has signed a similar deal with JBIC in October 2020.
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