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Carmakers up dispatches, output as curbs are eased

India’s leading passenger vehicle manufacturers increased production and dispatches to dealerships in July, compared to the preceding month, as states eased lockdown restrictions further following a sustained decline in Covid-19 cases. Most dealerships resumed operations across India and manufacturers moved in to fill the inventory levels. Maruti Suzuki India Ltd, the largest car maker, increased …

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Investors prefer UPI route to join IPO frenzy

Unified Payment Interface (UPI) is emerging as the favourite mode of payment for small investors flocking to initial public offerings, comprising 42% of all retail applications in IPOs in June. However, payment failures continue to frustrate users on UPI, two years since the payment system was opened to IPO applications. According to data from the …

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GST kitty rebounds to ₹1.16 lakh crore in July | Latest News India

The Goods and Services Tax (GST) collection surged to ₹1.16 lakh crore in July, a 33% year-on-year jump, signifying the easing impact of the second wave of the Covid-19 pandemic on the economy which saw the revenue plunge below ₹1 lakh crore in the previous month for the first time since October 2020. The GST …

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Wipro may see fastest growth in revenue among peers this fiscal

Wipro Ltd is set to report the fastest annual revenue growth among India’s top five software services firms this year. Wipro’s performance will be the first for the company in the nearly three-decade history of the Indian outsourcing industry, where it competes with Tata Consultancy Services Ltd, Cognizant Technology Solutions Corp., Infosys Ltd, and HCL …

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New RBI rules on interchange fee, bulk clearing facility effective from today

New directions issued by the Reserve Bank of India (RBI), raising interchange fee on automated teller machine (ATM) transactions, along with making the bulk clearing facility available round the clock, came into effect from Sunday, as directed by the central bank while making these announcements. On June 10, the RBI raised the interchange fee on …

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Fuel demand revives in July, petrol hits pre-Covid level

India’s fuel demand picked up in July as easing of pandemic-related restrictions accelerated economic activity, helping petrol consumption reach pre-Covid levels, preliminary sales data showed on Sunday. State-owned fuel retailers sold 2.37 million tonnes of petrol in July, up 17 per cent from the year earlier period. It was 3.56 per cent higher than pre-Covid …

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Commercial LPG cylinders now costlier by ₹73.5, cooking gas rates unchanged

A commercial LPG cylinder in India is now costlier by ₹73.5, according to the latest price revision for August 1, posted on the official website of Indian Oil. However, even though the price of a 19-kg commercial LPG cylinder saw a hike, there has been no increase in the price of the 14.2-kg domestic gas …

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₹116,393 crore GST revenue in July; 33% more than last year: Govt

The Union finance ministry said on Sunday that the gross Goods and Services Tax (GST) revenue collected in July has been ₹1,16,393 crore, 33% higher than those generated in the same month in 2020. “The gross GST revenue collected in the month of July 2021 is ₹1,16,393 crore of which CGST is ₹22,197 crore, SGST …

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IPOs in August first week: From Exxaro Tiles to Windlas Biotech

Several companies will open their initial public offerings (IPOs) in August and at least four of them have released dates for the issues in the first week of this month. This comes after companies such as Zomato, Paytm, Glenmark Life Sciences, Tatva Chintan Pharma Chem Limited and Rolex Rings Limited issued their IPOs and some …

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