Posts tagged Rediff
Tax Sops Coming In Interim Budget! (23-01-2024)
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Tax Sops Coming In Interim Budget! (23-01-2024)
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Cyber attack: How vulnerable are Indian entities? (22-01-2024)
The number of cyber attack cases in India increased by 15 per cent per week on an average in 2023, trailing only Taiwan in the Asia Pacific region, cyber security firm Check Point said on Monday. Organisations across the globe experienced an average of 1,158 weekly cyber attacks each, which was a 1 per cent increase in the number of incidents compared to that in 2022. "In 2023 India received 2,138 weekly attacks per organisation, which is a 15 per cent surge since 2022.
Fortis plans acquisitions, may opt for neutral name (22-01-2024)
Delhi-headquartered Fortis Healthcare is open to acquisition of hospitals with over 250-300 bed sizes as part of its strategy to grow at a faster clip. It may also opt for a neutral brand name soon. Neutral brand is a new brand, which is not owned by any of the stakeholders.
Flipkart eyes profitability ahead of IPO (22-01-2024)
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
Market litmus may turn red for chemicals sector (22-01-2024)
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
End of a dream! Sony-Zee’s $10 bn mega deal called off (22-01-2024)
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Delivery-based trades drop amid valuation concerns (22-01-2024)
Investors are reluctant to take long-term positions this year after the spectacular gains in 2023. The delivery-based trades on the National Stock Exchange (NSE) have declined to below 36 per cent this year from an average of 38.1 per cent in 2023. Investors tend to seek delivery for stocks where they see a long-term investment opportunity or tactical positional trade.
Domestic pharma market grew by 6.8% in 2023 (22-01-2024)
The Indian pharmaceutical market (IPM) grew 6.8 per cent to touch a turnover of ~1.93 trillion in calendar year 2023, despite volumes going down marginally by 0.9 per cent. This indicates the price increase has been the major growth driver. Growth in the moving annual turnover (the previous 12 months' turnover) in December was 5.1 per cent and that in new product introduction 2.6 per cent, while volumes dipped 0.9 per cent, leading to an overall growth rate of 6.8 per cent, according to the data from market research firm Pharmatrac.
Why is India’s cotton dream turning sour? (21-01-2024)
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.