BUSINESS
No change in petrol, diesel prices for 16th consecutive day
The pump price of petrol remained at Rs Rs 83.71 a litre and diesel Rs 73.87 a litre in Delhi on Wednesday. Across the country as well, the price of the two petroleum products remained unchanged. OMCs have gone on a pause mode at a time when news of successful coronavirus vaccine and expectations of big pick up in demand had kept crude on the boil with prices breaching $50 a barrel mark.
Reliance biggest wealth creator in past 25 years: Report
IT major Infosys has turned out to be the fastest wealth creator during the 25-year period, while Kotak Mahindra Bank has been the most consistent wealth creator since 1995, showed the Motilal Oswal 25th Annual Wealth Creation Study 2020.. The study also revealed that the consumer or the retail sector was the largest wealth creating sector during the period under review.
Equity indices in green, Sensex up 200 points
Around 10.25 a.m., Sensex was trading at 46,206.80, higher by 200.11 points or 0.43 per cent from its previous close of 46,006.69. It opened at 46,072.30 and has touched an intra-day high of 46,238.44 and a low of 45,899.10. The Nifty50 on the National Stock Exchange was trading at 13,529.50, higher by 63.20 points or 0.47 per cent from its previous close.
Infosys bags $3.2 billion contract from Daimler
This is the second largest deal for the Bangalore-based software major this year after it bagged a multi-year digital transformation deal from the US investment firm Vanguard in July.
ICICI Bank launches online platform for foreign companies setting up India ops
The platform 'Infinite India' offers these companies banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others. According to the statement, these technology-enabled-services are aimed at strengthening the bank's position in the MNC segment, an important area.
Wipro to takeover IT operations of German Metro AG firm in $700 million deal
The deal value for the first five years is worth $700 million, with a potential to go up to $1 billion if extended by another four years. The takeover is expected to close by April 30, 2021. The transaction was assisted by the global strategy consulting firm EY-Parthenon.
Future Retail scheme not impeded, Amazon contravened FDI, FEMA rules
The takeaway from the verdict is that it seems there are no impediments in the mind of the court regarding the scheme proposed and approved by the FRL board. While Amazon can continue to engaged with regulators on the Rs 25,000 crore Future-Reliance deal, the 132-page court verdict said the Amazon-Future deal is prima facie in contravention of the FDI and FEMA rules in the absence of a government approval.
World Bank to fund $500 million 'green' highways project in India
The Green National Highways Corridors Project will support the ministry construct 783 km of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial by-products, and other bio-engineering solutions. The project will help reduce GHG (greenhouse gas) emissions in the construction and maintenance of highways.
Jhatpat scheme: No more worries about late filing of returns with income tax
The Income Tax Department has introduced the "Jhatpat Processing" feature that will allow processing of returns filed online on a real time basis with the taxpayer getting acknowledgement almost immediately. The feature will facilitate taxpayers, who have come almost close to the deadline of filing returns, and fear that even if returns are filed, their processing would make them miss the deadline and hence, liable for penalty.
Enforcement Directorate attaches assets of Ajmera Group in money laundering probe
The assets, attached under the Prevention of Money Laundering Act (PMLA), are in the form of two immovable properties -- an agricultural land and a residential plot and 14 movable properties -- 13 bank accounts and one demat account held in the name of Ajmera Group, its partners and others.
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