Income tax refunds: 20 lakh taxpayers got over ?62,000 crore this financial year

Expediting the process of issuing income tax refunds during the coronavirus pandemic, the income tax department issued tax refunds at the speed of 76 cases per minute from 8th April to 30th June. “During this period of just 56 weekdays, the Central Board of Direct taxes (CBDT) has issued refunds in more than 20.44 lakh […]

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Board of Muthoot Finance to consider stock split on July 18

New Delhi: Non-banking finance company Muthoot Finance on Friday said its board of directors will meet on July 18 to consider the proposal for stock split. In a regulatory filing the company said its a meeting of the board is scheduled to be held on July 18, to consider and approve the proposal for sub-division/stock […]

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Cadila Health shares rise after its covid vaccine gets DCGI nod for human trials

Shares of Cadila Healthcare rose as much as 4.61% during trading on Friday after the company announced the success of pre-clinical development of a vaccine for covid-19 and the receipt of Drug Controller General of India’s (DCGI’s) permission to initiate human clinical trials. At 02:40 pm, Cadila Healthcare was trading at ?365, up 0.48% from […]

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KKR to acquire controlling stake in JB Chemicals

Mumbai: J.B. Chemicals products include in the areas of cardiac, gastrointestinal and anti-infective therapeutic across the branded formulations market. The company’s portfolio includes four flagship brands in India, Cilacar, Metrogyl, Nicardia and Rantac. The Company currently exports its branded formulations to more than 40 countries around the world. J.B. Chemicals’ contract manufacturing capabilities also allow […]

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Intel Capital invests ?1,894 crore in Jio Platforms

Reliance Industries Limited and Jio Platforms Limited announced today that Intel Capital will invest ? 1,894.50 crore in Jio Platforms at an equity value of ? 4.91 lakh crore and an enterprise value of ? 5.16 lakh crore. Intel Capital’s investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted […]

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Dilip Buildcon shares gain 9% after it emerges as lowest bidder for EPC project in Gujarat

Shares of Dilip Buildcon jumped as much as 9% on Thursday after the company said it has been declared as the lowest (L-1) bidder for a new EPC project in Gujarat. After touching an intraday high of ?296 a piece on the BSE, at 1:50pm, the scrip was trading at ?285.55 up nearly 5% from […]

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IndiGo offers 25% discount on flight tickets to doctors, nurses

NEW DELHI : India’s largest domestic carrier IndiGo announced on Thursday that it will offer a 25% discount on its flight tickets to doctors and nurses till the end of this year. The discount will be offered while booking through IndiGo’s website, valid for sale and travel from 1 July, 2020 till 31 December, 2020, […]

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Indian Railways achieve 100% punctuality for all trains

Indian Railways has said that it has achieved 100% punctuality for all the trains with all the trains running on time. The previous best punctuality rate of 99.54% was achieved on 23 June this year.However, Indian Railways is currently operating a small part of its passengers train services due to the covid-19 pandemic in the […]

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As Axis Bank draws up plan to raise capital, focus remains on asset quality

India’s banking canvas is rife with examples of what happens if capital is scarce. From the long standing troubles of stymied public sector banks to the precipitous fall of Yes Bank, the reason has been capital. Ergo, every fund raising announcement by a bank is taken as a show of strength by investors, especially during […]

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Tata Sons to infuse ?2,600 crore into Tata Power

MUMBAI : The board of directors of Tata Power Ltd on Thursday approved issuance of 49.05 crore equity shares to its parent company Tata Sons Pvt Ltd via preferential allotment for an aggregate sum of ? 2,600 crore. The issue price for the equity shares has been fixed at ? 53 apiece, 15% premium to […]

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