BUSINESS
Airtel returns to profits, Q3 net profit at Rs 853.6 crore
The telco posted its highest ever consolidated quarterly revenue from operations at Rs 26,517.8 crore, 24.2 per cent higher than the 21,343.6 crore reported in the year ago period. The company had a net exceptional gain of Rs 4,559.9 crore during the quarter ended December 31, 2020, comprising of charge on account of re-assessment of contractual, regulatory levies and taxes of Rs 3,159.6 crore.
Government may delicense power distribution sector to allow competition
Official sources said that the Power Ministry would soon move a draft bill proposing amendments in the Electricity Act that would remove the wording 'distribution licensee'. What this will do is to maintain status quo of existing distribution entities but will now allow entry of other participants in a distribution area if it is able to manage infrastructure for supplying electricity to consumers.
RLDA opens request for qualification bids for redeveloping New Delhi Railway station
The RLDA has received overwhelming response from national and international players as nine leading companies -- Arabian Construction Company, Adani Railways Transport Ltd, BIF IV India Infrastructure Holding (DIFC) Pvt Ltd, ISQ Asia Infrastructure Investments Pte Ltd, Anchorage Infrastructure Investments Holdings Ltd, Kalpataru Power Transmission Ltd, GMR Highways Ltd, Omaxe Limited and Elpis Ventures Pvt Ltd -- participated in the RFQ.
Electronic Giants like Samsung, LG set to make India hub of exports
These companies in India were only exporting their product to smaller emerging markets like Middle East, South-Asian, African and Latin American nations, while the govt had been trying to make India Self Reliant in production for both the domestic and global markets.
Amazon unveils plans for 'Helix' tower at new HQ
The company calls the building "the Helix" because its corkscrew shape is supposed to take inspiration from "the natural beauty of a double helix". It also -- it must be said -- bears a distinct resemblance to the swirling poop emoji, though, with some healthier colours mixed in, The Verge reported on Tuesday.
RBI releases circular on risk-based internal audit for NBFCs, UCBs
It intends, to provide the essential requirements for a robust internal audit function, which include sufficient authority, stature, independence, resources and professional competence, so as to align these requirements in larger NBFCs, UCBs with those stipulated for scheduled commercial banks, said an RBI statement.
Worldwide semiconductor revenue up 5.4% in 2020: IDC
The market for semiconductors in computing systems, such as PCs and servers, outpaced the overall semiconductor market, growing 10.9 per cent year over year to $152 billion in 2020, said the report. The semiconductor market will reach $476 billion in 2021, a 7.7 per cent year-over-year growth rate as the various Covid-19 vaccines are disseminated and economies begin to open and gradually recover, according to a forecast by IDC.
Rs 6K Cr given to states to meet GST compensation shortfall
Till now, 76 per cent of the total estimated GST compensation shortfall has been released to the states and UTs with the Legislative Assembly. Out of this, a number of Rs 76,616.16 crore has been released to the states and a number of Rs 7,383.84 crore has been released to the three UTs with the Legislative Assembly.
Union Budget 2021: 10 things individual taxpayers should know
The budget contains various relief measures and proposals to facilitate ease of compliance for the taxpayers. Senior citizens who are aged 75 or above, earning only pension or bank interest income, are not required to file income tax return. T
Sensex, Nifty hit fresh record highs
BSE Sensex touched a high of 50,231.39, and the Nifty50 touched a record high of 14,754.90 points during the initial trade. Healthy buying was witnessed in healthcare, consumer durables and IT stocks. The market has, however, trimmed gains and has declined from its record levels. Around 9.40 a.m., Sensex was trading at 49,930.61, higher by 132.89 points or 0.27 per cent from its previous close of 49,797.72.
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