Economic & Finance News

EPFO adds 14.65 lakh net new subscribers in July

The provisional payroll data of EPFO, released on Monday, shows of the total 1.46 million net subscribers added during the month, around 0.90 million new members have come under the… [...]

Finance Ministry to kick-start budgetary exercise from October 12

"The pre-Budget/RE (Revised Estimate) meetings will begin on the October 12, 2020," according to the Budget Circular (2022-23) of the Budget Division of the Department of Economic Affairs, dated September… [...]

FDI key to India's aspiration to be a USD 5 trillion economy, says Deloitte CEO

The CEO of the top multinational professional services network said, "FDI, I believe, is the key to India's aspiration to be a USD 5 trillion economy and I think that… [...]

Lead banker SBI wants NCLAT to call fresh bids for Videocon

In yet another twist to the tortuous debt resolution at Videocon Group, lead consortium lender State Bank of India has approached an appeals court to direct the Committee of Creditors… [...]

Many states likely to seek extension of GST compensation beyond 2022

Finance minister Nirmala Sitharaman said on Friday that till 2026 compensation cess will be used to pay for back-to-back loans of ₹2.69 lakh crore during FY21 and FY22, which were… [...]

Opposition-ruled states demand extension of GST compensation regime beyond June 2022

The Centre has estimated the shortfall in GST compensation payable to states in the current fiscal year at Rs 2.59 lakh crore, of which about Rs 1.59 lakh crore would… [...]

From next year, non-filers of monthly GST return will be barred from filing GSTR-1

These moves would help prevent revenue leakage due to evasion of Goods and Services Tax (GST), which was launched on July 1, 2017. [...]

Swiggy, Zomato to collect 5% GST on deliveries, food not to get dearer

Food delivery apps will now be required to collect 5% GST from consumers instead of the restaurant they pick up orders from, Sitharaman said on Friday evening after the Council… [...]

Securitisation volumes pick up post-Q1 FY22 as collection efficiency improves: Report

The resumption of economic activities post the second Covid wave improved sentiments and supported the loan performance in June-July 2021, said the report. [...]

PFRDA pension subscriber base rises 24% to 4.53 crore till August

"The number of subscribers in various schemes under the National Pension System (NPS) rose to 453.41 lakh by end-August 2021 from 365.47 lakh in August 2020 showing a year-on-year increase… [...]

First physical GST Council meeting since pandemic begins in Lucknow

Inclusion of petroleum products, petrol and diesel within GST is set to be a hot topic of debate as high taxes and cess have pushed fuel prices to record highs.… [...]

NFRA needs to have standalone legislation, says chairperson R Sridharan

Sridharan said the NFRA operates under a single section of the Companies Act. The section does not provide comprehensive coverage of all the functions and powers that are required to… [...]

Govt revenue from telecom in FY22 likely at Rs 28,000 cr vs Rs 54,000 cr budgeted: ICRA

ICRA chief economist Aditi Nayar, in a statement, said, “We now assess the inflows from the telecom sector into the GoI's FY2022 non tax revenues to be limited to Rs… [...]

Taxman want companies to split expenses on celebrity endorsements across units

The tax department has started questioning many companies as to whether they have distributed these common expenses across all their registered entities. It is investigating whether the companies are dividing… [...]

Infosys's deadline ends, but bugs in tax-filing portal remain

The new Income Tax e-filing portal developed by Infosys continued to face glitches despite the September 15 deadline set by the government to iron out issues on the platform. The… [...]

Market News

PGIM India Mutual Fund buys stake in Kolte-Patil Developers

In another transaction, Kuber India Fund sold 113,468 shares of Windlas Biotech at Rs. 379.7 apiece through a bulk deal on the NSE. [...]

Sebi fines 8 entities for fraudulent trade in Videocon shares

These are facing a fine of Rs 16 lakh, payable jointly and severally, for violation of Prohibition of Fraudulent and Unfair Trade Practices norms. [...]

Ahead of Market: 12 things that will decide stock action on Tuesday

Mazhar Mohammad of said this market may be changing its trajectory from 'buy on dips' to 'sell on rallies' mode. [...]

Trade Setup: Nifty looking weak, but don't go for aggressive shorts yet

The Relative Strength Index (RSI) on the daily chart stood at 67.93; it has slipped below the 70 mark from the overbought zone. The daily MACD has shown a negative… [...]

Wall Street dips 2% on growth worries; focus turns to Fed

Ten of the 11 major S&P sectors declined. Economy-sensitive industrials, financials and energy dropped between 1.7 per cent and 3.6 per cent. [...]

Market Movers: Retail investors press panic button as China crisis looms

Nowhere was the knee-jerk reaction felt more acutely today than in the metals space. The Nifty Metal index plummeted nearly 7 per cent in one of the biggest sell-offs the… [...]

Biggest gainers & losers of the day: Metal stocks bleed; HLE Glasscoat shines 20%

Metal players bled, whereas hotel stocks were the buyer's favourite. NDTV rose amid the buzz of takeover by Adani Group. BLS International tanked following the negative newsflow. [...]

Day trading guide: 2 stock recommendations for Tuesday

Nifty again failed to sustain above 17,600 and eventually broke below 17,400 to settle at 17,397, down 188 points. Appearance of bearish candle with higher shadow after Friday’s bearish candle… [...]

Tech View: Nifty sends out sell signal on MACD; it's a 'sell on rise' market

The fact that Nifty50 fall came after Friday's Dark Cloud Cover formation and that the momentum indicator MACD has sent out 'sell' signals suggest that the index could be in… [...]

F&O: Nifty negates higher highs & lows in signs of bearishness

Nifty formed an Inverted Bearish Hammer kind of candle on the daily scale and negated the formation of higher highs and lows of the last four sessions. [...]

Monday Mayhem! Investors lose Rs 3.78 lakh cr as Sensex plunges 525 pts; Nifty settles below 17,400

Equity investors were left poorer by Rs 3.78 lakh crore, as their total wealth represented by BSE market capitalisation declined to Rs 255.18 lakh crore. This means they lost over… [...]

If the hottest business is not generating cash flow, avoid it: Saurabh Mukherjea

Among the new generation franchises, some are already generating free cash flow, some are not. And Mukherjea says he does not believe in franchises that do not generate free cash… [...]

German shares slump 2%, European index hits two-month lows

The pan-European STOXX 600 index was down 1.5% by 0745 GMT, with mining stocks plunging 3.2% on a slide in commodities prices. [...]