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28 Dec

Jersey Electricity reports 8.5% revenue increase in 2024

Priyanka RoyBusiness, latest

JERSEY - Jersey Electricity plc has announced its financial results for the year ended September 30, 2024, reporting an 8.5% increase in revenue to £135.7 million. The company, which has been a major player in the island's energy sector for a century, recorded a profit before tax of £15.1 million, a slight improvement on the previous year's £14.9 million. The Board recommended a final dividend of 12.00p per share for the year, an increase of 5.3% from the 2023 dividend. This, combined with the interim dividend, brings the total dividend for the year to 19.80p per share. The final dividend…

27 Dec

Aluminium futures prices gain due to fresh deals

Priyanka RoyBusiness, latest

New Delhi, December 27: Aluminium prices rose by 25 paise to Rs 241.65 per kg in the futures market on Friday due to fresh deals by speculators amid positive trend in the spot market. The price of aluminium contract for January delivery rose by 25 paise or 0.1 per cent to Rs 241.65 per kg in Multi Commodity Exchange in which 3,245 lots were traded. Analysts said that fresh deals by traders amid demand from consumer industries supported aluminium prices in the futures market.

26 Dec

Crude oil futures rise amid strong US data and rising imports from India

Priyanka RoyBusiness, latest

January crude oil futures on MCX were trading at ₹5934 in the early hours of trade on Tuesday. Crude oil futures rose on Tuesday morning following strong US economic data and rising demand from India. February crude oil futures on WTI (West Texas Intermediate) were up 0.44 per cent at $72.64, and February crude oil futures on WTI (West Texas Intermediate) were up 0.42 per cent at $69.53. On the Multi Commodity Exchange (MCX) in the early hours of trade on Tuesday, January crude oil futures were trading at ₹5934 as against the previous close of ₹5,901, up 0.56 per…

23 Dec

1% expansion in market capitalisation leads to 0.6% increase in gross domestic product (GDP) growth rate: SBI Eco Research

Priyanka RoyBusiness, latest

A report by the SBI Economic Research Department said that an increase in market capitalisation strengthens the economy and boosts investor confidence, thereby boosting overall economic growth. Also, the report claimed that a one per cent increase in market capitalisation leads to a 0.6 per cent increase in gross domestic product (GDP) growth rate. "Impulse response suggests that a 1 standard deviation shock in market capitalisation has a positive impact on the real economy, with the effect dissipating after three time periods," the report said. It also mentioned that Granger causality analysis suggests that an increase in market capitalisation Granger-causes…

21 Dec

Gold price in Chennai downgrade by Rs 240 per sovereign on December 20, taking the price of one gram to Rs 7,040

Priyanka RoyBusiness, latest

Thus, the price of gold has come down by Rs 30 per gram, now the price of one gram has become Rs 7,040. Chennai: Gold price in Chennai fell by Rs 240 per sovereign on Friday (December 20), and the yellow metal is selling at Rs 56,320 per sovereign. Thus, the price of gold has come down by Rs 30 per gram, now the price of one gram has become Rs 7,040. Gold price has seen slight fluctuations in the last one week. On December 19, the price of gold was Rs 56,560, which was Rs 57,200 on December 18.…

20 Dec

SpiceJet shares expansion 9%

Priyanka RoyBusiness, latest

The budget airline, which recently raised Rs 3,000 crore amid financial challenges, is settling various disputes with lessors and other entities.SpiceJet shares jumped 9 percent on Thursday after the company said aircraft lessor Genesis will buy a stake in the airline worth USD 4 million as part of settling a dispute worth over USD 16 million.The stock closed 8.97 percent higher at Rs 61.33 on the BSE. During the day, it rose 10.14 percent to Rs 61.99.For the settlement, the airline will also pay USD 6 million to Genesis.The budget airline, which recently raised Rs 3,000 crore amid financial challenges,…

19 Dec

Direct tax collection in 2024-25 inflation 20.3% to Rs 19.2 lakh crore

Priyanka RoyBusiness, latest

New Delhi [India], Dec 18 (ANI): Gross direct tax collection by the government so far in 2024-25 rose 20.32 percent year-on-year to Rs 19.21 lakh crore, according to data released by the Central Board of Direct Taxes (CBDT) on Wednesday. The gross tax collection during the same period last year was Rs 15.96 lakh crore. Talking about net direct tax collection, it rose 16.45 percent to Rs 15.82 lakh crore from Rs 13.59 lakh crore in the same period a year ago. Refunds for this period rose 42.49 per cent to Rs 3.38 lakh crore from Rs 2.37 lakh crore…

18 Dec

India’s gold import increase: Threat to trade balance, urgent action needed

Priyanka RoyBusiness, latest

New Delhi, Dec 17 Think tank GTRI on Tuesday said India's gold imports have increased alarmingly, posing a potential threat to its trade balance and economic stability, and the government should take action to address the issue. According to commerce ministry data, the country's gold imports rose to a record high of $14.86 billion in November, registering a four-fold increase, mainly due to festival and wedding demand.Gold imports stood at $3.44 billion in November 2023. GTRI said imports are driven by a number of factors, including rising investment demand, tariff cuts and loopholes in trade agreements. The surge has raised…

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

ZPM’s majority in CADC sets the stage for new government in Mizoram

Sonalilatest, Lifestyle

Members of the Zoram People’s Movement (ZPM) are set to meet Mizoram Governor Dr. Hari Babu Kambhampati on Monday at Raj Bhavan to formally stake their claim to form the government in the Chakma Autonomous District Council (CADC). The ZPM gained a majority in the 20-member council after five members of the Mizo National Front (MNF) defected to the party last week. This political shift came shortly after a no-confidence motion ousted Chief Executive Member (CEM) Rasik Mohan Chakma of the MNF during a council session on December 11. The MNF, which had initially secured 10 seats to form the…