BUSINESS
Tata Consumer to acquire Bisleri for around Rs 7,000 crore: Report
The current management will continue for two years as part of the deal. Chauhan, 82, has been in indifferent health in recent times and says he doesn't have a successor to take Bisleri to the next level of expansion. Daughter Jayanti isn't too keen on the business, Chauhan said. Bisleri is India's largest packaged water company. The Tata Group "will nurture and take care of it even better," although selling Bisleri was still a "painful" decision, Chauhan said.
MakeMyTrip's B2B platform MyBiz logs 3X growth over pre-Covid period
MyBiz offers services like booking domestic and international flights, hotels in India and overseas, train, cabs, bus, forex, visa and corporate clients. According to the company, MyBiz currently serves more than 6,300 large and mid-market corporates and more than 39,900 small and medium enterprises (SMEs).
Jio Financial Services could be 5th-largest financial services company
Reliance Industries (RIL) recently made an announcement to demerge its financial services business and rename it Jio Financial Services (JFS). RIL would transfer 6.1 per cent RIL shares held by its wholly owned subsidiary to JFS. This clearly shows the grand ambitions the group has in financial services. RIL would transfer 6.1 per cent RIL shares held by its wholly owned subsidiary to JFS. This clearly shows the grand ambitions the group has in financial services.
Wheat prices being closely monitored: Government
Food Secretary Sanjeev Chopra said while addressing media persons that the ban on wheat exports has led to a rise in stock availability. Wheat prices, Chopra said, have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent. He further said that wheat and rice stocks position is comfortable and much above the government's buffer requirements. Government had banned exports of wheat in May this year to boost domestic supplies and control prices.
Tax collections to cross budget estimates in current fiscal, says government
Revenue Secretary Tarun Bajaj was quoted as saying that the growth in tax revenues will continue to be higher than the GDP growth, owing to better compliance. Tax collection target for the current fiscal is pegged at Rs 27.50 lakh crore. Bajaj also that the direct tax collections consisting of personal and corporate taxes would be close to Rs 17.50 lakh crore in the current fiscal.
Why Prosus' $578 mn fair value doesn't put BYJU'S valuation at $6 bn
In its September quarter results, Prosus classified BYJU's as a non-controlling financial investment rather than an associate, as its shareholding dropped below 10 per cent. Prosus told IANS in a statement on Wednesday that the investment group has changed the accounting treatment for BYJU's and in the subsequent reporting periods, "the company will be accounted for as an investment".
SC dismisses Tata Power's plea against Rs 7,000 cr transmission contract awarded to Adani
A bench, headed by Chief Justice D.Y. Chandrachud and comprising Justices A.S. Bopanna and J.B. Pardiwala directed the state power regulatory commissions to frame regulations for determination of tariff within three months to effectuate a balance for creating a sustainable model of electricity regulation in the states.
Tax-filing websites sending users' financial data to FB: Report
Users of the well-known service TaxAct, for example, are required to provide personal information in order to calculate their returns, such as their income and investment information. A pixel on TaxAct's website sends some of that information to Facebook, including users' filing status, adjusted gross income, and refund amount.
FTX collateral crashed down to $8 bn from $60 bn as CEO 'froze up in face of pressure'
In a letter to FTX employees, accessed by CoinDesk, the former CEO Sam Bankman-Fried apologised to them, saying he is "deeply sorry about what happened". "I didn't mean for any of this to happen, and I would give anything to be able to go back and do things over again. You were my family," he wrote in the letter.
Paytm Payments Bank supports UPI market cap, maintains leadership as PSP & Issuer Bank
The Bank continues to lead UPI payments as the largest beneficiary bank and a leading remitter bank. According to the latest report by NPCI, as a beneficiary bank PPBL has registered over 1,614 million transactions and as a remitter bank, it has registered more than 362 million transactions in October 2022.
Don't Miss
Advertisement