BUSINESS
Amazon, Flipkart begin festive season war as India looks at Rs 90K cr worth sales
Driven by about 140 million shoppers, online sellers, especially small ones, expect at least a 15 per cent jump in festive sales year-on-year, with the median growth figure of 26 per cent sales increase expected, according to market intelligence firm Redseer Strategy Consultants.
Markets at crossroads - the week to decide medium term direction
The broader markets saw BSE100 gain 0.05 per cent while BSE200 and BSE500 lost 0.10 per cent and 0.02 per cent respectively. BSEMIDCAP lost 0.81 per cent while BSE SMALLCAP was up 0.79 per cent. Very clearly the breadth is yet to move with the benchmark indices.
Crude supply, inflation risks for India if war spreads to West Asia: Economists
They said it is a bit early to comment on the impact as the situation has to be monitored.
GST Council scraps tax on millet flour
Food preparations in powder form containing at least 70 per cent millets will not have to pay any GST, Finance Minister Nirmala Sitharaman said at a press conference after the GST Council meeting.
GST on e-gaming firms not retrospective, Centre tells dissenting states
Certain states during the GST Council meeting on October 7 are reported to have flagged the issue of retrospectively imposing GST on online gaming companies, according to Maharashtra minister Deepak Vasant Kesarkar.
Ather Energy, Ola Electric see lukewarm response from investors: Report
According to Nikkei Asia, industry executives view the lukewarm response to Ola and Ather's fundraising “as a warning sign despite the startups' rapid growth” while green mobility is considered a sunshine sector.
GST Council cedes right to levy tax on neutral alcohol to states
Addressing a press conference after the GST Council meeting, the Finance Minister explained that the Allahabad High Court had ruled that the states had no power to impose tax on ENA and this was solely in the domain of the GST Council and the Centre.
Air India unveils first look of A350 aircraft
“Here's the first look of the majestic A350 in our new livery at the paint shop in Toulouse. Our A350s start coming home this winter,” the flag carrier said in a post on X.
In first four days of October, FPIs sold stocks for Rs 9,412 cr
India continues to be on top of emerging economies in attracting FPI this year but September witnessed selling and October has begun with the same trend. In the first four days of October, FPIs have sold stocks for Rs 9,412 crore in the cash market, he added. FPIs have been selling in financials, power, IT and oil and gas.
Aviation Working Group ups India's score on global index after bankruptcy code tweak
The development comes in response to notification issued by the Central government, dated October 3, 2023, providing that the moratorium under the Insolvency and Bankruptcy Code, 2016 will not apply to aircraft, aircraft engines, airframes and helicopters governed by the Cape Town Convention.
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