A majority of states have recommended that the Centre increase their share in tax revenue distribution to 50 per cent, Arvind Panagariya, Chairman of the 16th Finance Commission, said on Wednesday.Currently, states receive 41 per cent of the divisible tax pool, while the remaining 59 per cent is retained by the Centre. Addressing a press…
Private equity major TPG on Wednesday pared its stake in Tata Technologies by 2.1 per cent, selling shares worth Rs 638 crore through an open market transaction.According to bulk deal data on the BSE, TPG Rise Climate SF, an affiliate of the U.S.-based investment firm, sold 85.16 lakh shares in Tata Technologies at an average…
Dubai is set to expand its residential inventory with the delivery of 73,000 homes in 2025, taking the emirate closer to a total of 300,000 new units by the end of 2028, according to research from property consultancy Cavendish Maxwell.As reported by Arabian Business, Dubai recorded 42,000 property sales transactions valued at AED 114.4 billion…
The National Company Law Appellate Tribunal (NCLAT) on Wednesday declined to grant interim relief to Gensol Group entities, BluSmart Premium Fleet and Matrix Gas and Renewable, against an asset freeze ordered by the National Company Law Tribunal (NCLT).The appellate tribunal directed the two companies to present their plea before the Ahmedabad bench of the NCLT,…
Gold rate today: Gold prices rose by Rs 260 to Rs 99,260 per 10 grams in the national capital on Wednesday, tracking strong trends in the global market, according to the All India Sarafa Association.The price of gold with 99.5% purity also increased by Rs 100 to Rs 98,700 per 10 grams, inclusive of all…
The Reserve Bank of India’s Monetary Policy Committee (MPC) began its three-day meeting on Tuesday, with expectations running high for a policy rate cut to support economic growth in the face of external uncertainties, including recent tariff moves by the US.The committee, chaired by RBI Governor Sanjay Malhotra, will announce its decision on Friday. Analysts…
Chinese artificial intelligence advancements emerged as a major driving force in shaping the global AI landscape during the first quarter of 2025, according to a new report from Artificial Analysis, an independent AI benchmarking and insights provider.While the United States continues to dominate in reasoning models—with the top four spots on the Artificial Analysis Intelligence…
Ola Electric’s stock remained in the spotlight on Wednesday, trading at Rs 49.86 with an uptick of 1.07%, even as the aftershocks of a massive stake sale by Hyundai Motor and Kia Corporation continued to ripple through the market. Ola Electric’s stock drew attention on Wednesday following major exits by global automakers Hyundai Motor and…
India’s services sector showed continued strength in May, with businesses reporting solid growth in activity, hiring, and international demand. The HSBC India Services PMI Business Activity Index edged up to 58.8 from 58.7 in April, reflecting another sharp expansion. A reading above 50 indicates growth, while anything below signals contraction. The sector’s momentum was underpinned…
Income Tax Department had extended the deadline to file ITR for FY 2024-25 to September 15 from July 31. (AI image) ITR Filing FY 2024-25: The Income Tax Department has activated its website incometax.gov.in for filing income tax returns using ITR-1 and ITR-4 forms. Eligible individuals can now submit their ITR via the e-filing portal…
