Chinese smart devices firm Xiaomi’s India head Muralikrishnan B has resigned from the company to pursue his interest in academic research, the company said on Monday. He will continue to support Xiaomi India as an independent Strategic Advisor, the company said. “Muralikrishnan B, the current President of Xiaomi India, will be transitioning out of his role at the end of the year.
Posts tagged Rediff
Swiggy seeks valuation of $11.3 bn; IPO to open on Wed (05-11-2024)
Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about $11.3 billion. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore. Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue.
Govt invites applications for RBI deputy guv’s post (05-11-2024)
The government has invited applications for the post of deputy governor of the Reserve Bank of India (RBI) from interested candidates with at least 25 years of experience and below 60 years of age as on January 15, 2025. One of the deputy governors, Michael Patra’s current term will end on 15 January. The last date of submission of applications is November 30, 2024.
Stock markets rebound on value; Sensex jumps 694 pts (05-11-2024)
Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank and UltraTech Cement were also among the big gainers. Adani Ports, ITC, Bharti Airtel and Asian Paints were among the laggards.
Foreign investors net sellers of Indian bonds in Oct (05-11-2024)
Foreign investors were net sellers of domestic debt in October for the first time since the official inclusion of Indian government bonds in the JP Morgan bond indices, with net outflow worth Rs 4,697 crore. This marked the second instance in the current calendar year where foreign portfolio investors (FPIs) were net sellers in a month.
Foreign investors to increase participation in NSE IX (05-11-2024)
Trading turnover on NSE IX has been witnessing an uptrend and this momentum is likely to continue thanks to the growing global interest in the overall India growth trajectory, MD and CEO of NSE International Clearing Neeraj Kulshrestha has said. Speaking at the Singapore Fintech Festival (SFF) on Monday Kulshrestha said foreign investors are likely to further increase their participation in GIFT City NIFTY.
Taxmen can now waive or cut interest due from assessee (05-11-2024)
The income tax department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions. Under the Income Tax Act Section 220 (2A), if a taxpayer fails to pay the tax amount specified in any demand notice, he/she is liable to pay interest at 1 per cent per month for the period of delay in making the payment. The Act also empowers Principal Chief Commissioner (PrCCIT) or Chief Commissioner (CCIT) or Principal Commissioner (PrCIT) or Commissioner rank officers to reduce or waive the amount interest due to be paid.
Maruti Suzuki eyes two-fold jump in exports (05-11-2024)
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade — almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company’s upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
Festival demand boosts sales of 2-wheelers by 26% (05-11-2024)
Major two-wheeler manufacturers in India witnessed a double-digit increase in domestic sales in October, driven by the festival fervour.
Two factors that are positive for Coal India stock (05-11-2024)
The Q2FY25 revenue for Coal India (CIL) was reported at Rs 30,700 crore (down 6 per cent year-on-year or Y-o-Y and 16 per cent sequentially). The blended average selling price was Rs 1,622/tonne (down 6 per cent Y-o-Y and 3 per cent quarter-on-quarter or Q-o-Q). Adjusted operating profit stood at Rs 7,200 crore (down 20 per cent Y-o-Y and 38 per cent Q-o-Q) due to lower-than-expected e-auction volumes and higher costs.