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Tuesday, Jul 23, 2019 | Last Update : 02:39 PM IST

Business

Crude oil up 0.28 per cent on upbeat global cues

DHFL said on Monday its audited results were largely in line with the unaudited net loss it reported on July 13.

Auditors to DHFL raise red flags around quarterly results

Line 3 of the Mumbai Metro, also known as the Colaba-Bandra-SEEPZ line, is partially funded by JICA. (Photo: File)

Blue Star bags Rs 253 cr order from Mumbai Metro Rail Corporation

RIL's standalone net profit of Rs 9,036 crore, up 2.4 per cent over the previous year, was a record.

RIL shares gain 2.5 pc; m-cap rises by Rs 19,974 cr after Q1 earnings

In a regulatory filing HPCL made to stock exchanges on July 21, in the shareholding for the quarter ending June 30, 2019, HPCL again listed ONGC as "public shareholder" and not as its promoter.

HPCL refuses to recognise ONGC as its promoter

In 2018-19, Air India had made losses of around Rs 7,600 crore.

Air India plans to bring all 17 grounded aircraft back into operation: Lohani

On consignment basis for exhibition would not in itself constitute a supply under GST since there is no consideration received at that time, but such goods would need to be accompanied by a 'delivery challan'.

Taking goods abroad for exhibitions will not have to generate tax invoice

Strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee.

Rupee slips 13 paise against dollar in early trade

The broader Nifty also fell 28.50 points or 1.25 per cent to 11,317.70.

Sensex drops over 100 points; bank stocks drag

Acharya said India’s borrowing relative to its output has ranged from 67 per cent to 85 per cent since 2000 and has outpaced many emerging markets including China.

Rise in government borrowing can weigh on corporate sector: Acharya

ISRO has worked to keep import costs low by designing most of the parts for its programme that are then outsourced to the domestic private sector. (Photo: PTI)

Private sector plays significant role in Chandrayaan-2 mission

There were 8.44 crore taxpayers in Assessment Year 2018-19.

Govt targets to add 1.3 crore income tax filers this fiscal

The exemption from GST on maintenance charges charged by an RWA from residents is available only if such charges do not exceed Rs 7,500 per month per member.

18 pc GST on flat owners paying monthly maintenance of over Rs 7,500

These changes to the onboarding process will make it easier for small sellers, who may not have prior digital expertise.

Flipkart simplifies onboarding process for new sellers

The operational payments banks showed net losses of Rs 516.5 crore for FY18, while ‘Paytm’ PB has declared a profit of Rs 19 crore in FY19. (Photo: ANI)

Payments banks fall by the way on tight regulatory requirements

Grey market sales of high-end phones causing revenue loss of Rs 2,500 cr: ICEA

The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000.

In the previous reporting week, the reserves had surged by USD 2.236 billion to scale a new life-time high of USD 429.911 billion. (Photo: PTI)

First time in a month, forex reserves fall by USD 1.11 billion

The country's reserve position with the fund also declined by USD 1.5 million to USD 3.345 billion.

DBS Bank report argued that increasing the ceiling on foreign portfolio investors in government securities is a better option considering the huge risks in raising debt in a foreign currency.

Govt may cap overseas borrowing at USD 5 billion this year: Report

DBS Bank suggested hiking the cap on foreign funds' investment in domestic debt is a better option.

Mahajan, the co-convenor of Swadeshi Jagran Manch (SJM). (Photo: DC/G N Jha)

RSS' economic wing says India should not issue foreign currency bonds

Swadeshi Jagran Manch will campaign against the plan by convening meetings of influential economists.

The GDP figures are within the government's target range of 6.0-6.5 per cent for the whole year.

China GDP growth slows to 6.2 per cent in second quarter

The slowing economy makes it more difficult for President Xi Jinping to fight back forcefully against the US.

Market

In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 170 to Rs 35,670 and Rs 35,500 per 10 gram, respectively. (Photo: Representational)

Gold rises by Rs 170 on jewellers' buying, silver jumps Rs 910

Despite gold losing steam overseas, the precious metal saw upward trend due to rise in domestic demand, traders said.

Benchmark crude prices were still on track for their biggest weekly decline in seven weeks, having fallen sharply earlier in the week on hopes for easing Middle East tensions as well as demand concerns and a dwindling storm impact.

Oil jumps after US Navy downs Iranian drone

Brent crude futures were up USD 1.17, or 1.9 per cent, at USD 63.10 a barrel by 0505 GMT.

The broader NSE Nifty sank 82.10 points or 0.72 per cent to close at 11,337.15.

Sensex tanks 306 points; HDFC twins sink

The 30-share index cracked 305.88 points or 0.80 per cent to settle at 38,031.13.

Traders attributed the rise in gold prices to strong demand from local jewellers.

Gold touches all-time high of Rs 35,970 per 10 gram

Globally, spot gold was trading almost flat at USD 1,425.60 an ounce, while silver quoting higher at USD 16.40 per ounce.

Companies

Total remuneration paid to Mittal was over Rs 31 crore and Vittal was paid Rs 20.9 crore against the ceiling of around Rs 9.8 crore and Rs 12 crore respectively for 2018-19. (Photo: PTI)

Airtel to seek shareholders' nod for waiver of recovery of excess pay to Mittal

Bharti Airtel will seek the approval at its annual general meeting to be held on August 14 in New Delhi.

In a statement on July 19, the company said its board has decided to seek shareholders' approval for expanding the board to enable the induction of an independent woman.

IndiGo to expand board; to have 4 independent directors

Sebi and the corporate affairs ministry are looking into the alleged governance lapses at InterGlobe Aviation.

The company, beginning mid-2020, will bring to production three sets of new discoveries in the block that will reverse the years of decline in production.

Reliance says its main gas fields in KG-D6 block in late life stage

The fields produced an average of 1.76 million standard cubic metres per day of gas during April-June, the firm said.

During the review period, IL&FS Group had availed rating services from Crisil Ltd, CARE Ratings, ICRA, India Ratings (a Fitch group company) and Brickwork.

IL&FS case: Sebi widens probe into role of rating agencies

Grant Thornton was asked to review ratings provided by various credit rating agencies (CRAs) to IL&FS group companies.

Providing new formats for audit report and limited review report in the circular, Sebi said that in view of revision in auditing standards (SA 700) by the Institute of Chartered Accountants of India (ICAI), "audit report formats need to be aligned with SA 700 (revised)".

Sebi changes formats for limited review, audit reports

This circular shall be applicable with respect to financial results for quarter ending September 30, 2019 and after, Sebi said.

Autos

Isuzu specialises in making diesel engines, and this shows in the MU-X’s powertrain – for its 3.0-litre oil burner.

Likeable and in control

Amidst the beauty, Isuzu MU-X, looks the way the way a noraml SUV should look; simple yet elegant.

Hyundai, India’s second biggest Korean car maker’s new attractive sub-compact SUV model Venue has bucked the trend of steep falling cars sales in Asia’s third biggest economy.

Hyundai Venue crosses 34,000 bookings

The sales of Maruti Vitara Brezza, which were between 13,000 units to 14,000 units every month, had come down to about 8,000 units last month.

Techo Electrica claims that Neo, Raptor and Emerge electric scooters have a range of 70-80km.

Techo Electra launches Neo, Raptor and Emerge electric scooters In India

These electric scooters are available in 50 dealerships across the country, with prices starting from Rs 43,000.

Globally spot gold was trading at USD 1,420.80 an ounce. Similarly, silver was also up at USD 15.24 per ounce in New York.

Gold prices zoom Rs 930 on firm global cues

Gold is trading at Rs 35,800 per 10 gram tracking positive overseas trend after US Federal Reserve Chairman hinted at a rate cut.

In Other News

Lower demand from the Indian diamond processing industry has pulled down the quarterly sales of Alrosa, the world's second largest diamond miner, as inventories rose 36 per cent. (Photo: Representational/Pexels)

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