BUSINESS
Vijay Mallya denied permission to appeal in UK bankruptcy case
The 65-year-old businessman, who remains on bail in the UK, had filed a renewed application to appeal against UK court orders in the case from last year, which had allowed for an adjournment of bankruptcy proceedings until the debt issue before the Supreme Court in India was decided upon.
Government to sell up to 10% stake in SAIL via OFS
"Offer for Sale (OFS) in SAIL opens on Thursday (14.1.2021) for non-retail investors. 15th January (Friday) is for retail investors. GoI would divest 5 per cent equity with a 5 per cent greenshoe option," said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) on Twitter.
Gold ETFs log record 877 tonnes inflow in 2020: WGC
The WGC said that all regions registered significant growth in assets under management (AUM), more than the foreign reserve holdings of any central banks except for the US.
Maharashtra stops automatic adoption of Centre's GST circulars
A circular issued by the Maharashtra Goods and Service Tax Department (MGSTD) on January 12 says that the state would examine all circulars issued by the Central Board of Indirect Taxes and Customs (CBIC), and upon examination, issue a separate circular regarding its applicability for the implementation of the MGST Act.
Wipro reports 21% growth in Q3 net profit
The company had reported a net profit of Rs 2,455.9 crore during the corresponding period of the last fiscal (FY2019-20). Its revenue increased by 1.3 per cent during the period under review to Rs 15,670 crore.
FPIs may be allowed to get tax treaty benefits on dividend income
The move is expected to facilitate foreign portfolio investors (FPIs) as they will not need to claim a tax refund for surplus taxes withheld by Indian corporates, while filing their annual income-tax returns in India.
Dream run for metal segment should continue in Q4, earnings shine
According to the report on metal and mining sector by the brokerage, the current run of rising metal prices in line with demand revival in autos, white goods, infrastructure segment and trade re-stocking with lower coking coal prices should result in dream profitability for most companies that witnessed one of the worst phases during the lockdown period last year.
Boeing deliveries drop despite 737 Max's return to flight
Chicago-based Boeing still reported more cancellations than new orders for its 737 Max jet, which was grounded for 21 months after crashes in Indonesia and Ethiopia killed 346 people. The market for new planes remains depressed by the pandemic, which has devastated air travel and caused airlines to reconsider aircraft purchases. Despite the December numbers, Boeing's full-year numbers for 2020 still declined from 2019.
Sensex gives up gains to turn red, HDFC and RIL down
Decline in the heavyweights HDFC and Reliance Industries (RIL) weighed on the index. Both the Sensex and the Nifty50 on the National Stock Exchange (NSE) touched all-time high levels of 49,795.19 and 14,653.35 points. Sensex has glided over 570 points from the day's highs.
Delhivery expands India footprint, to create new jobs
It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US. The new recruitments will happen across technology, product, and data science functions by the next fiscal, the company said in a statement.
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