As many as 74% of corporates expected the government to adopt the SAF-T (standard audit file for tax) system for “near real-time reporting and compliance monitoring” to ensure uniformity with international standards and move towards a more efficient and faster audit process, a survey by Deloitte showed. Also ReadBirla Opus Paints unveils its 4th factory
Meta on Tuesday said that it disagrees with the Rs 213 crore fine levied on it by the Competition Commission of India for abuse of its dominant position, and will appeal against the order. The penalty pertains to the controversial implementation of WhatsApp’s 2021 privacy policy, which mandated data sharing between WhatsApp and other Meta
Suzlon Energy’s revenue rose 48% on a yearly basis to Rs 2,103 crore in Q2FY25 and its net profit almost doubled to Rs 200 crore. The company had an order book of 5.1 GW—its biggest ever. JP Chalasani, chief executive officer, Suzlon Group, talks to Raghavendra Kamath about the company’s plans and the issues in
The Adani Group will acquire a 30% stake in Gujarat-based construction company PSP Projects from its promoters for Rs 685 crore. Adani Infra, part of the Gautam Adani-led conglomerate, will purchase the stake from Prahladbhai S Patel, who heads PSP Projects and is its shareholder. Also ReadUK-India Free Trade Agreement to relaunch in early 2025:
American tech giant Meta may find it tough to get interim relief against the Competition Commission of India’s (CCI’s) Rs 213-crore penalty on it for its alleged abuse of the dominant position of its messaging app WhatsApp, according to competition law experts. “It would not be easy for the appeal court to disagree with the
The topmost priority of NTPC Green Energy Ltd after its listing will be to scale up renewable energy capacity in a phased manner to 19 giga watt (GW) by 2026-27 at an estimated investment of Rs 1 lakh crore, Gurdeep Singh, chairman and managing director of its parent company NTPC Ltd said on Tuesday. The
Yubi Group, backed by Peak XV and Lightspeed Ventures, reported a nearly 50% year-on-year increase in revenue, reaching Rs 490 crore in FY24. In an interview with Narayanan V, Gaurav Kumar, founder and CEO of the Chennai-based fintech unicorn, shares insights into the key growth drivers, the business outlook for the current fiscal year, and
AI’s transformative potential is expected to disrupt the labour market, with tasks rather than job roles becoming the focal point, Rishad Premji, executive chairman of Wipro said on Tuesday. He said that enterprises around the world are gradually adopting AI technologies with many cautious about the rapid pace of its evolution. However, consumer uptake is
Like other mutual fund categories, index funds also witnessed a significant drop in inflows in February. There was a 20.5% drop to Rs 4,177.02 crore in inflows during the month, against Rs 5,254.66 crore in January 2024. This decline in index fund inflows was the result of an overall weak sentiment due to a market
Urban Company has joined the quick commerce race with the launch of a 15-minute maid booking service Insta Maids, according to a social media post by the company. The service would provide service like utensil cleaning, mopping, and even cooking preparation. ALSO READConsumer durable firms see a bumper summer According to people in the know
The government aims to add 6.5 gigawatts (GW) of thermal capacity in FY26, along with 2.2 GW of nuclear capacity and 3.9 GW of hydro capacity, according to the latest report by the Lok Sabha’s Standing Committee. Accordig to the committee’s findings, as of January 31, only 1.4 GW of thermal power had been added
The ministry of power has sought an extension of the deadline for the Revamped Distribution Sector Scheme (RDSS) by two years through FY28 in order to complete the envisaged targets, according to a report by the Lok Sabha’s Standing Committee. The scheme aims to improve the operational efficiencies and ensure financial sustainability of the distribution
LG Electronics India has received approval from markets regulator Securities and Exchange Board of India (SEBI) for its IPO, according to sources. The IPO size is likely to be around Rs 15,000 crore. The company had filed the draft red herring prospectus (DRHP) with SEBI in the first week of December. It is likely to
