Business

17 Dec

Advance tax receipts expansion 17 percent in third quarter

Priyanka RoyBusiness, latest

Advance taxpayers are required to pay 15% of their annual income tax liability by June 15, 45% by September 15 and 75% by December 15.Advance direct tax receipts from companies, limited liability partnerships (LLPs) and individuals grew 16.8% year-on-year in the third quarter of the current fiscal, reflecting some moderation in tax payments. However, the pace of collections is still higher than the budget estimates of gross (pre-transfer) direct tax receipts, which are at 12.4%.Advance tax payments for the third quarter till December 15 stood at Rs 3.15 lakh crore, compared to Rs 2.7 lakh crore a year ago, sources…

16 Dec

Topcem Cement Empowers Needy Students with School Stationery

Business BureauBusiness

Topcem Cement, a leading cement brand in Northeast India, distributed essential school stationery items to approximately 500 underprivileged students across 13 institutions in Kamrup Metro and Kamrup districts. The initiative, part of Topcem Cement's social responsibility, aimed to bridge the educational gap for economically disadvantaged children. The distribution included school stationery items such as notebooks, pens, pencils, sharpeners, and erasers, which were handed over to institutions like Assam Sishu Kalyan Sadan, Seven Sisters Home, Lankeswar Home, UTSAH Education Center, Ashaneer, CL Home Jalukbari, Kasturi Home, Sneha Bandhan2, Jibonalaya CL Home, CL Home Fatashil, Observation Home Boko and Jalukbari Higher Secondary…

16 Dec

Coal imports progress 4% to 162 million tonnes in April-October period

Priyanka RoyBusiness, latest

The country's coal imports rose 4.2 percent to 162.45 million tonnes (MT) in the April-October period of the current fiscal, as against 155.87 MT in the same period a year ago. According to data compiled by B2B e-commerce platform mjunction Services, coal imports fell 14.4 percent to 21.84 MT in October, as against 25.54 MT in the same period last fiscal. Of the total imports in October, non-coking coal imports stood at 13.49 MT, as against 18.82 MT in the same period last fiscal. Coking coal imports stood at 4.45 MT, as against 4.31 MT in the same period last…

14 Dec

Passenger vehicle deliveries progress 4% in November as demand remains strong post festive season: SIAM

Priyanka RoyBusiness, latest

Industry body SIAM on Friday said passenger vehicle deliveries from companies to dealerships in November rose 4 per cent year-on-year to 3,47,522 units, as against October's festive season as demand remained strong. Total passenger vehicle deliveries stood at 3,33,833 units in November last year. Market leader Maruti Suzuki India dispatched 1,41,312 vehicles to its dealers last month, up 5 per cent from 1,34,158 vehicles in November last year. Hyundai Motor India dispatched 48,246 vehicles last month, up 49,451 in November last year. Mahindra & Mahindra sales stood at 46,222 vehicles last month, up 16 per cent from 39,981 vehicles sold…

13 Dec

SWITCH Mobility launches new electric buses, poised for growth in India and global markets

Business BureauBusiness

SWITCH Mobility Ltd, subsidiary of Ashok Leyland and part of the Hinduja Group, and a leading manufacturer of electric buses and light commercial vehicles, has unveiled its contemporary electric bus platform SWITCH EiV12—the low-floor electric city bus for the Indian market. It is India’s first low-floor city bus with chassis-mounted batteries, featuring a scalable battery capacity of over 400+ kWh. The vehicle was launched by Shri Nitin Gadkari, Hon’ble Minister for Minister of Road Transport and Highways of India, in the presence of Ashok P. Hinduja, Chairman of Hinduja Group Companies (India), other dignitaries, and industry leaders. Mr. Ashok P.…

13 Dec

Indian Oil shares inflation 3% after Jefferies gives ‘buy’ rating, expects 31% upside

Priyanka RoyBusiness, latest

Shares of Indian Oil Corporation Limited (IOCL) rose 3 per cent to Rs 145 in morning trade on December 13. The stock markets snapped their two-day losing streak after Jefferies upgraded the stock to buy and raised the target price citing strong future growth prospects. With a target price of Rs 185, the international brokerage has projected an upside potential of over 31 per cent from the last closing price of Rs 141 on the National Stock Exchange. Shares of IOCL have declined 18 per cent in the last three months. The previous target price by Jefferies was Rs 165.…

12 Dec

Vedanta shares gain 12%; board to decide on fourth interim dividend on December 16

Priyanka RoyBusiness, latest

Anil Aggarwal-led mining and natural resources conglomerate Vedanta Ltd has grabbed investor attention ahead of its board meeting scheduled for December 16, where it will consider a fourth interim dividend. Dividend announcement sparks interestThe board meeting, which was earlier planned for October but postponed due to unforeseen circumstances, will now determine the fourth interim dividend payout for FY25. Vedanta has already declared three interim dividends this fiscal, totalling Rs 35 per share. The latest announcement made in September saw a dividend of Rs 20 per share after earlier payouts of Rs 11 and Rs 4, respectively. The record date for…

11 Dec

Indian Overseas Bank to get Rs 1,359 crore IT refund for AY15-16; shares progress

Priyanka RoyBusiness, latest

Shares of public sector bank Indian Overseas Bank (IOB) jumped three per cent in the morning session on December 11 after the state-owned bank received an order confirming refund of Rs 1,359.29 crore for the assessment year 2015-16, including interest. "We wish to inform you that the order was received through the Income Tax portal on December 10, 2024 and the Bank also received the information regarding the said order on December 10, 2024," the bank said in a communication to the stock exchanges. At 9.15 am, shares of Indian Overseas Bank rose 3.4 percent to Rs 38.85 on the…

10 Dec

Aster CMI Hospital partners with Arunachal Pradesh to offer affordable liver transplant services

Business BureauBusiness

Aster CMI Hospital has signed a Memorandum of Understanding (MoU) with the Government of Arunachal Pradesh to provide affordable liver transplantation services to patients with end-stage liver disease. The partnership, particularly aimed at children with congenital liver conditions like biliary atresia, will make life-saving transplants accessible at a significantly reduced cost, offering hope to families burdened by expensive treatments. The cost of liver transplants can range between ₹20-25 lakh, deterring many families. However, Aster CMI, through its Corporate Social Responsibility initiatives and crowdfunding platforms, has developed the country’s largest affordable pediatric liver transplant program, performing over 1,000 successful transplants. Patients…

10 Dec

Tata Motors to progress passenger vehicle prices by up to 4% from January 2025

Priyanka RoyBusiness, latest

In a series of announcements, leading automobile manufacturers Tata Motors, Maruti Suzuki and Kia India have announced price hikes for their passenger vehicle portfolios from January 2025.Tata Motors, India's largest automaker, revealed that it will increase prices by up to 3% across its entire range, including electric vehicles (EVs). The hike, effective from January 2025, will vary by model and variant. The move is aimed at partially mitigating the impact of rising input costs and inflation.Kia India also announced a price hike of up to 2% across its entire lineup, effective from January 1, 2025. This adjustment is due to…