JSW Steel has entered into a share purchase agreement to acquire 100% equity shares of thyssenkrupp Electrical Steel (tkES) through a 50:50 joint venture with Tokyo-headquartered JFE Steel for Rs 4,051.4 crore, the Sajjan Jindal-led steel company announced to the exchanges on Friday evening. The acquisition will be executed through Jsquare Electrical Steel Nashik, a
Tata Consumer on Friday beat Street estimates, reporting an almost 8% increase in net profit for the quarter ended September 2024 (Q2FY25) to Rs 364 crore, compared to Rs 338 crore in the same period last year. Analysts polled by Bloomberg had projected a net profit of Rs 343 crore for the quarter under review.
The recent reduction of over 20% in the allocation of Administrative Price Mechanisms (APM) gas to city gas distribution companies by GAIL India is expected to result in an increase in the prices of CNG (Compressed Natural Gas), as per analysts. As communicated by Indraprastha Gas and Mahanagar Gas, the government has decided to cut
India’s merchandise exports in the first half of FY25 rose at a modest rate of 1%, owing to slowdown in global demand, decline in oil prices, higher logistics costs for exporters, and of course, declining competitiveness in certain segments. The outlook for the second half is however of slight improvement, even as the current external
By Neeraj Agarwal My wife and I are NRIs living in Dubai. She wants to gift some money to her sister in India. What will be the tax treatment and can it be transferred from her Dubai bank account? —Madhav Nair Your wife can gift money to her sister in India without any tax liability
Eight payment gateways, including Razorpay, PayU, Easebuzz, and Paytm, are under investigation by the Enforcement Directorate (ED), which has frozen around Rs 500 crore in their virtual accounts over the past two years. This action is linked to one of India’s largest cryptocurrency scams involving 10 Chinese nationals operating the HPZ Token scheme, according to
The GIFT Nifty indicates that the BSE Sensex and NSE Nifty 50 are likely to open higher on Friday, January 24. The Indian stock markets closed Thursday’s session with modest gains as the NSE Nifty 50 rose 60.90 points or 0.26% to 23,216.25 and the BSE Sensex added 115.39 points or 0.15% to settle at
The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets the popular Amul brand, has announced a Re 1 reduction in milk prices for one-litre packs across India. The move aimed at encouraging consumers to opt for larger packs also marks a slight relief for households amid rising costs. Speaking to PTI, GCMMF Managing Director Jayen
The Adani Group on Friday said the Sri Lankan government is reviewing the tariffs agreed upon under a power purchase agreement (PPA) for its wind power projects, but said this was part of a “standard review process”. Reports that Adani Group’s 484 megawatt (MW) wind power projects in Sri Lanka’s northern Mannar and Pooneryn districts
