Air India introduced wireless inflight entertainment on its wide body aircraft to address customer complaints about system issues. The new service, called 'Vista', allows passengers to stream content on their personal devices during flights. The service will also be available on narrow body planes but is not yet offered on the new B777 and A350 aircraft.
Ola Electric shares have seen a 90% surge, shrugging off a flat debut earlier this month. More on this in today’s ETtech Top 5.
India stands out as the sole market in the Asia-Pacific region showing consistent double-digit growth in FMCG and tech durable sectors through modern trade channels, driven by premiumisation and festive period sales, as per a report by NielsenIQ. The country holds a dominant position in modern trade sales, with premium-plus pricing segments representing a significant portion of both FMCG and tech durables sales.
CBDT Chairman Ravi Agrawal stated that the review of the Income Tax Act of 1961 would be completed within six months, as announced by Finance Minister Nirmala Sitharaman. The goal is to simplify tax laws and reduce litigation. Notably, 72% of taxpayers have opted for the new regime for Income Tax Returns.
Ford Motor adjusted its EV plans by discontinuing the three-row SUV and postponing its next-generation pickup. New additions include a mid-size electric pickup set for 2027 and an electric commercial van for 2026. The company cited slower EV demand as the reason for these strategy shifts and anticipated related financial impacts.
Attributes growth to robust demand for tech-driven, integrated solutions aligned with the National Curriculum Framework (NCF) across school segments. The edtech startup says it is eyeing to turn Ebitda breakeven for the full fiscal 2024-25.
Finance Minister Nirmala Sitharaman highlighted key points during her speech on Income Tax Day, emphasising the need for tax authorities to use simple language in notices and circulars for better understanding. She mentioned receiving 58.57 lakh ITRs from first-time taxpayers and plans for a new Tax Code to reduce litigation. Sitharaman stressed on a friendly approach to encourage compliance, improving transparency, and efficiency in tax processes.
Greenbase Industrial and Logistics Parks, a collaboration between Hiranandani Group and Blackstone Group, planned to acquire 211 acres in Chennai, enhancing their total land holding to 391 acres. They intended to invest Rs 700 crore to develop industrial parks on these parcels, boosting their Chennai portfolio to 11 million sq ft. The company aimed to deliver 20 million sq ft over five years across various markets. The expansion would generate around 1,000 new jobs, further promoting the local economy. Читать дальше...
U.S. private equity firm KKR's affiliate, Esoteric, will sell a 17.3% stake in India Grid Trust (IndiGrid) for $213.6 million, the Indian investment firm said on Wednesday.
The Indian Renewable Energy Development Agency Ltd (IREDA) on Wednesday said its board will consider a proposal to raise up to Rs 4,500 crore through issuance of shares in its meeting on August 29.
At its highest level in a decade, over 28% of Americans are looking for work, a sign of a more pessimistic view of the economy despite other data pointing to a more stable situation.
Rajnish Wellness Limited attracted investor attention following its strategic collaboration with Indian Railways. This partnership is expected to elevate the company's revenue and market share. Despite the optimism, analysts warned of potential risks including competition, changes in consumer behavior, and regulatory issues. They advised investors to seek comprehensive advice before investing.
Long unwinding occurs when investors sell assets they've held for a significant time, either to secure profits or because they expect the market to decline.
During her speech at the Democratic National Convention, former first lady Michelle Obama acknowledged her husband's legacy while subtly snubbing Joe Biden.
IIFL Securities has been imposed with a Rs 11 lakh penalty by Sebi for breaching stock broker regulations. An inspection in August 2022 uncovered lapses such as faulty fund settlement and inaccurate retention statements.
Actor Manoj Bajpayee and his wife sold a premium residential apartment in Mumbai for Rs 9 crore. Located in the Mahalaxmi area, the property includes two car parking slots. The deal was registered on August 16. In October 2023, the couple purchased four commercial properties in Andheri for over Rs 31 crore.
During the 165th Income Tax day celebration, Finance Minister Nirmala Sitharaman encouraged the Income Tax department to foster a fair and friendly reputation among taxpayers. She highlighted the importance of simplifying the language used in tax notices to ensure they are easily understood by the public. Sitharaman also congratulated Indian taxpayers on their achievements.
Nagaraj Shetti of HDFC Securities believes the Nifty's short-term outlook remains positive, but with limited movement. The market is poised to test the resistance level of 24,960, established during the opening down gap on August 2nd. If successful, the Nifty could reach 25,100 within the next week. Immediate support is currently at 24,650.
Indian shoppers still prefer retail chains over e-commerce for premium products and during festive periods. Big shopping days significantly boost sales in FMCG and electronics sectors. NielsenIQ observed increased preference for premium products and private labels. Food and grocery retail chains, like DMart, have not been significantly affected by the rise of quick commerce.
Oil producer club OPEC+ faces limited scope to increase supply as US, Brazil, and Guyana boost output, meeting global demand growth, BP's Spencer Dale states. OPEC+ has kept 5.8 million barrels per day off the market and plans to gradually return supply starting October. Dale believes OPEC will maintain influence in the oil market despite rising non-OPEC supplies. He predicts EVs will impact oil demand significantly by the 2040s, with rapid electric vehicle adoption in China.
