(Reuters) – The Indian government has raised the windfall tax on petroleum crude to 7,000 rupees ($83.78) per metric ton from 6,000 rupees per metric ton, effective from July 16, a notification issued on Monday showed. ($1 = 83.5510 Indian rupees) (Reporting by by Nikunj Ohri and Gursimran Kaur in Bengaluru; Editing by Devika Syamnath)
BENGALURU (Reuters) – Indian brokerage Angel One reported a higher first-quarter profit on Monday, boosted by a surge in orders amid increased trading activity. Consolidated profit increased by 32.6% year-on-year to 2.93 billion rupees ($35.1 million) in the three months to June 30. Indian benchmarks scaled record highs during the June quarter and logged their …
Indian brokerage Angel One’s Q1 profit rises as orders jump Read More »
NEW DELHI (Reuters) – India will tax all imports of aircraft components and aircraft engine parts at 5%, the civil aviation minister said on Monday, unifying the tax rate which earlier varied between 5% and 28%. The uniform rate, effective from Monday itself, was recommended by India’s Goods and Services Tax (GST) Council in June …
India implements uniform 5% tax for all aircraft, aircraft engine parts Read More »
BENGALURU (Reuters) -Indian budget carrier SpiceJet reported a fourth-quarter profit jump on Monday following a gain from a settlement with a financing agency and the airline said it was in talks to raise additional funds. The company’s standalone profit rose to 1.19 billion rupees ($14.2 million) in the fourth quarter ending March, from 168.6 million …
SpiceJet’s fourth-quarter profit jumps on gain from settlement with financing agency Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s four-week platinum imports from mid June eclipsed 2023’s total as bullion dealers exploited a loophole by registering alloys containing around 90% gold as platinum to avoid higher duties, government and industry officials told Reuters. In that time frame dealers cleared 13 metric tons of these metal consignments valued …
MUMBAI (Reuters) – India’s central bank on Monday asked lenders to give defaulting borrowers enough time to respond before they are classified as “fraud accounts,” following a judgment by the country’s top court. Banks will now have to issue a show-cause notice to fraudulent entities, with complete details of the fraud, the Reserve Bank of …
India cenbank says lenders must hear loan defaulters before declaring accounts ‘fraud’ Read More »
BENGALURU (Reuters) – India’s blue-chip indexes logged record closing highs on Monday, led by gains in state-owned companies, with mid-cap stocks also extending their record run after a healthy start to the earnings season. The NSE Nifty 50 rose as much as 0.54% to a record high of 24,635.05 during the session. It settled 0.35% …
State-owned firms power Indian stocks to record closing high Read More »
By Shivangi Acharya NEW DELHI (Reuters) -India’s merchandise exports rose to $35.2 billion in June from $34.32 billion a year ago, helped by increased shipments of engineering goods and commercial vehicles, data from the Commerce Ministry showed on Monday. Merchandise imports in Asia’s third-largest economy rose to $56.18 billion in the same month. As a …
India’s merchandise exports rise to $35.2 billion in June, trade ministry says Read More »
(Reuters) -Apple’s India sales jumped 33% to a record of almost $8 billion in the year through March, Bloomberg News reported on Monday, citing a person familiar with the matter. Apple’s iPhones accounted for more than half of the sales, the report said. The company did not immediately respond to a Reuters request for comment. …
Apple’s India sales jump 33% to near $8 billion last year, Bloomberg News reports Read More »
NEW DELHI (Reuters) – India’s wholesale prices rose at their fastest annual pace in 16 months in June on the back of costlier food, government data showed on Monday. The wholesale price index rose 3.36% in June from a year earlier, slightly lower than the 3.5% gain expected by economists polled by Reuters but higher …
India’s June wholesale prices rise most in 16 months Read More »
