The Dow Jones Industrial Average rose 82.2 points, or 0.20%, at the open to 40,622.13.
A recent report by Return Prime revealed that over a third of fashion and footwear products are returned in online shopping, with 17.6% of all ecommerce orders being returned, leading brands to implement stricter return policies. Return Prime's founder Sashwat Swaroop emphasised the importance of efficiently managing returns to reduce losses and drive revenue. Ecommerce sales surged during the pandemic, exacerbating return issues, prompting brands to adjust return policies to mitigate costs.
On Tuesday, TV Mohandas Pai, chairman of Aarin Capital, criticized the union budget, disputing its claims regarding personal and capital gains taxes. He demanded more transparency from the income tax department, asserting that the budget proposals have upset the middle class.
India's pulses import surged 90% to 47.38 lakh tonnes in 2023-24, satisfying local demand. Domestic production climbed to 244.93 lakh tonnes. The agriculture budget grew significantly, and MSPs for crops were set with a minimum 50% margin over production costs. Financial support to farmers continued under the PM-KISAN scheme.
Battery maker Exide Industries on Tuesday said its profit after tax increased 16 per cent to Rs 280 crore for the first quarter ended June 30, 2024. The company had reported a profit after tax of Rs 242 crore in the April-June quarter of the preceding fiscal.
The UP Assembly approved an amendment to its 'love jihad' law, imposing life imprisonment and a Rs 5 lakh fine for forced conversions. Proposed by CM Yogi Adityanath, the bill targets offenses like threats, attacks, and trafficking, expanding the list of eligible reporters of such incidents. This marks a significant legal change.
The direction for having a dashboard came after a Bench of justices Hima Kohli and Sandeep Mehta noted that there were several hurdles to monitor the progress of such complaints, particularly when such complaints were forwarded by state licensing authorities from one state to another due to the location of manufacturing units.
French astrologer and physician Nostradamus was born in December 1503. He became famous for his book 'Les Propheties', which was published in 1555. It was a collection of 942 poetic quatrains. Kushal Kumar is an astrologer who is called the India Nostradamus.
The Union Ministry of Social Justice and Empowerment stated that no bill exists for complete mechanisation of sewerage cleaning and ending manual scavenging. The ministry considered amending the current law but opted to implement the National Action for Mechanised Sanitation Ecosystem (NAMASTE) plan instead.
Jindal Stainless Ltd (JSL) on Tuesday posted 12 per cent fall in consolidated net profit to Rs 646.07 crore during June quarter, mainly on account of lower income. It had clocked Rs 737.58 crore net profit in the year-ago period, the company said in an exchange filing.
Vedanta received approval from 75% of its secured creditors for its demerger scheme. The plan will create six sector-focused entities, simplifying the corporate structure and providing direct investment opportunities.
Ride-hailing app Rapido has been held liable to pay goods and services tax (GST) for its cab service. This and more in today’s ETtech Top 5.
GAIL Q1 Results: The company's profit after tax grew 29% sequentially from the previous quarter, reaching Rs 2,469 crore. Revenue also saw a 6% increase compared to the last quarter of the previous fiscal year. EBITDA jumped 80% year-over-year to Rs 4,790 crore, leading to a significant improvement in EBITDA margins, which reached 13.8%. Total expenses increased slightly to Rs 31,393 crore compared to the same quarter last year.
Barack Obama's net worth in 2024 comes from a variety of sources, including real estate holdings, podcasts, Netflix partnerships, book deals, speaking engagements, and his presidential pension.
Sebi on Tuesday barred real estate firm Omaxe, its chairman Rohtas Goel, managing director Mohit Goel and three others from the securities market for two years for irregularities in the company's financial statements. The others restrained from the securities markets are -- Sudhangshu S. Biswal, Arun Kumar Pandey and Vimal Gupta.
A devastating landslide in Kerala's Wayanad region resulted in 106 fatalities, with 100 individuals missing. Continuous heavy rains caused parts of hillocks to collapse, leading to flash floods. Rescue operations faced obstacles due to the swollen streams. Government leaders assured all possible help to the victims' families and coordinated relief efforts effectively.
Homegrown contract electronics manufacturer Dixon Technologies India reported a 108% growth in net profit in the first quarter of 2024-25, as compared to the corresponding quarter last year.
The US-based private equity major Blackstone-backed REIT has entered into two separate term sheets to acquire two retail assets totalling around 8 lakh sq ft during the quarter ended June.
Adhir Ranjan Chowdhury has resigned as the president of the West Bengal Congress Committee post Lok Sabha polls. The process for appointing a new chief is underway, according to AICC general secretary Ghulam Ahmad Mir. Congress leaders discussed various issues, including ties with the ruling TMC in West Bengal. The party is seeking feedback on maintaining a balance in these ties at the national and state levels.
Qualcomm launched the Snapdragon 4S Gen 2 chipset, targeting to lower the cost of 5G smartphones in India to Rs 8,000 or less. The initiative aims to make 5G accessible to over 600 million users. The first commercial devices are expected by year's end. Qualcomm also introduced the Snapdragon X Series for AI PCs in India.
During H1 2024, over 71 MW of IT capacity was added in key data centre micromarkets, with total stock growing by 21% year-on-year to 942 MW. Transactions totaling around 200 MW occurred, driven by hyperscalers, BFSI, IT & ITeS, and service sectors. Demand is projected to hit 400 MW by the end of 2024, with Mumbai leading in capacity share. The industry is witnessing a shift towards enterprise colocation due to various cost and scalability factors.
Going forward, Vivo will be moving to a new manufacturing facility in Noida in 2024 and start sourcing components such as stabilisation modules for cameras, OLED displays, memory modules and more to increase value addition as part of its next phase of expansion.
Madhya Pradesh Chief Minister Mohan Yadav announced on Tuesday that 40 lakh women holding gas connections under the Pradhan Mantri Ujjwala Yojana (PMUY) and non-PMUY would receive domestic gas cylinders at a rate of Rs 450. This decision aims to benefit the households during the auspicious month of Sawan and the upcoming festival of Raksha Bandhan.
The Washington, DC-based company is developing a ‘Legal Brain’, an AI system designed to support real-world legal tasks such as evidence discovery, legal research, and strategy formulation.
