Daily Newsletter

Daily Newsletter
19 December 2022
Markets | Companies | Banking | Economy | Opinion | Life | Management | Technology
LIVE MARKETS SENSEX 61337.81 (-461.22) NIFTY 18269.00 (-145.90) GOLD (MCX 10 GM) 54325.00 (218.00) SILVER (MCX 1 KG) 67655.00 (-163.00) USD ($) / INR(Rs) 82.72 (0.2)
Front Page 50K show-cause notices sent to companies, partnership firms after GST audit It's first comprehensive audit exercise by GST authorities CBIC detects Rs 62K-crore GST evasion via fake invoices during past 3 years 1030 people have been arrested by tax authorities since 2020 Advance tax mop-up grew 13% in April-Dec period to Rs 5.21 trillion Net direct tax collection has grown 19% to over Rs 11.35 trillion Ola gears up to take on M&M and Tata Motors with electric CV plan Likely to launch three-& four-wheeler commercial vehicles next year Online gaming policy may mandate age gating mechanism for real-money games MeitY could also call for formation of a self-regulatory organisation; policy release likely in 2-3 weeks Adani group to invest Rs 10,700 crore to expand Lucknow airport About 25,000 people will be employed once the project is completed Women's IPL: Media rights may attract bids worth Rs 220-250 crore a year BCCI eyeing Rs 10-11 crore per match for 2023-27 cycle, say sources; broadcasters Disney-Star, Viacom18, Sony-Zee may step into fray for rights Finance ministry pulls up PSBs over mis-selling of insurance products Banks have been advised to ensure '100 per cent' compliance of know your customer (KYC) guidelines while sourcing insurance business Parliamentary committee recommends a GST Council-like body for RoDTEP The Finance Ministry has allocated Rs 14,245 crore for the RoDTEP scheme in FY23, up from Rs 12,454 crore in FY22 Demand crunch: Textile sector bats for stimulus, cotton import duty removal There is a shortage of demand for textile goods globally due to the Ukraine-Russia war
Companies Migrate your tweets and come to Koo, CEO Radhakrishna offers in new move Koo -- the Made-in-India rival of Twitter -- has offered to migrate all historic tweets of any Twitter user willing to shift to its platform ... Despite interest rate hikes, listed realty firms see dip in cost of debt Debt cost of eight listed players at lowest since pandemic Tracing history: Godrej & Boyce's 1st external CEO part of broader trend Verma was the executive director since 2008 and was then made the president in 2015 of the 14 businesses that include consumer durables, ... Chennai-based MSME plays crucial role in Arab world's first lunar rover The Indian enterprise made key structural parts for the rover, from materials many times lighter and several times stronger than steel » Read More Stories in Companies
Economy & Policy SC/ST Reservation Bill to be tabled in Karnataka legislature session: CM The SC/ST Reservation Ordinance Replacement Bill is one among a set of Bills to be introduced in a session of the State Legislature to be held ... Direct tax collections for FY23 up 20% at Rs 11.35 trillion till Dec 17 Direct tax collections stood at Rs 11,35,754 crore, as on December 17, 2022, up by 19.81 per cent against Rs 9,47,959 crore recorded in the ... Bihar hooch tragedy: Sobering reality of missing liquor policy Based on latest available data, of the 947 deaths due to spurious liquor in 2020, a majority were in Madhya Pradesh (214), Jharkhand (139), and ... HFCs to move regulator, govt to address rate hike and other industry issues Also plan to take up issues such as impact of IRAC norms, status of Automatic Data Flow requirement, among others » Read More Stories in Economy & Policy
Markets BSE 52-WEEK HIGH Company Price (Rs) Change (%) Aegis Logistics 359.15 3.74 I O B 33.45 -3.74 BSE TOP GAINERS Company Price (Rs) Change (%) EPL Ltd 191.00 14.23 Lloyds Metals 224.50 6.98 BSE 52-WEEK LOW Company Price (Rs) Change (%) Aurobindo Pharma 441.65 -1.17 Bata India 1630.20 -0.99 BSE TOP LOSERS Company Price (Rs) Change (%) GMM Pfaudler 1643.65 -14.87 Polycab India 2754.45 -7.64 Foreign investors infuse Rs 10,555 crore in equities in December so far Prior to this, foreign investors pulled out Rs 8 crore in October and Rs 7,624 crore in September, data with the depositories showed Sebi enhances vigil on MCX technology transition; High Court issues notices As top commodity exchange MCX races against time to move its trading technology from erstwhile promoter 63 Moons, regulator Sebi is keeping a ... Global markets remain at make-or-break stage after US Fed's rate hike It was a tough week for markets in India and the world. Interest rates were raised in the US on expected lines and the commentary post the ... 2022 corrected markets midway, valuations still high: UTI AMC's Ajay Tyagi In a Q&A, Tyagi says 2023 could be a year of consolidation because the market is trading at a 15-20% premium to long-term averages » Read More Stories in Markets
Opinion Trade, economic interests drive India's foreign policy How the oil price cap will actually play out is not clear, but our government remains unfazed because the cost of crude is anyway on a downward ... Bad loans & IBC: Going as expected Indeed, the IBC has only proven how wide and deep corrupt banking practices in PSBs were Indispensable India? We should be concerned that our confidence in our future does not turn into complacency Fumes of failure Prohibition is damaging Bihar in multiple ways » Read More Stories in Opinion
Finance Federal Bank increases interest rates on fixed deposits, effective Dec 18 Federal Bank says deposits with maturities between 18 months and two years will earn a maximum interest rate of 7.75 per cent from December 18 ... RBI went beyond just housekeeping with some bold moves in 2022 It's a landmark achievement, so far as the functioning of the economy is concerned: RBI Governor on CBDC Looking back at 2022: RBI's regulatory review 2.0 is a game-changer It has taken nearly two decades for RRA 2.0 to be set up under Shaktikanta Das in November 2021; and its recommendations in June this year must ... Banks look at possibility of rupee trade with Bangladesh, African nations Banks are looking at the possibility of initiating rupee trade with Bangladesh and African countries like Egypt as part of exercise to make ... » Read More Stories in Finance
Technology Samsung re-releases its internet web browser for Wear OS smartwatches Last week, the tech giant's web browser disappeared from the Play Store, leaving people with no option to install a reputed web browser on their ... Gen Z and millennials: Reshaping the future of the Indian workforce Massive fresher hiring the past few years has pushed share of Gen Z to 18-20% and Millennials to 68-70% of total tech industry employee base in ... WhatsApp working on a redesigned 'kept messages' feature on Android Meta-owned messaging platform WhatsApp is reportedly working on a redesigned 'kept messages' feature on Android, which will give users the ... Fire-Boltt eyes 5 times business growth in FY23, to scale up smartwatches Wearable and audio devices maker Fire-Boltt expects around five times growth in business to Rs 2,400 crore this fiscal with its plans to enhance ... » Read More Stories in Technology
Beyond Business A book of cheeky obituaries The obit goes on to say that his friends loved Mountgarret, because he was an entertaining character » Read More Stories in Beyond Business
Follow us on Opt out of this newsletter | Manage your subscription | View this email in a web browser For assistance, email at assist@bsmail.in If this was a forward, subscribe for your personal copy Make sure this email is not delivered to your "junk/spam/promotions" folder, add the sender's ID "businessstandard@business-standard.net.in" to your Address Book.