The salary hike season varied this year, with some sectors seeing increases from 8-15%, an improvement from last year's 4-10%. However, the global economic lull led to conservative raises in other sectors. Dry promotions and skill-based hikes were notable trends, especially in IT and startups. Bonuses were muted except in banking, financial services, and new energy sectors.
Indus Towers shares buyback proposal: The board meeting will be held on Thursday, July 30, 2024. The company's board of directors will also approve the unaudited financial results for the quarter ended June 30, 2024. If the board approves the buyback, it will be the first time in eight years that the company has conducted one.
With a focus on banking services and payment systems, the Reserve Bank of India (RBI) recently released a new framework on Domestic Money Transfer (DMT) for regulated enterprises. This framework includes tougher Know Your Customer (KYC) record criteria.
Old vs New Income Tax Regime 2024: New income tax slabs in new tax regime: The income tax slabs under the new tax regime has been changed in the Budget 2024. The new income tax slabs will come into effect retrospectively from April 1, 2024. Now, there may be some individuals who are still paying their taxes under the old tax regime. Does it make sense for them to switch to new tax regime now?
"On Kargil Vijay Diwas, my salutations to the immortal martyrs who sacrificed themselves to protect India. The country will always be indebted to them for their supreme sacrifice," the former Congress chief said in a post in Hindi on X. Congress general secretary Priyanka Gandhi Vadra said Kargil Vijay Diwas is that golden page of Indian military history which reminds us of the valour and sacrifice of our brave soldiers.
AAP MP Sanjay Singh criticized the BJP government for reducing jail budgets amid opposition leaders' arrests. Singh, recently bailed after his arrest in the Delhi liquor policy scam, urged for increased jail funding during his Rajya Sabha speech. Vice President Jagdeep Dhankhar acknowledged Singh's emotional appeal, asking Leader of the House JP Nadda to consider the suggestion.
Freshers face challenges on their first day at work, including nervousness and learning new processes. Experts advise early arrival, punctuality, and active participation. Freshers should also introduce themselves, ask questions, and demonstrate eagerness to learn. These actions can leave a positive impression on seniors and ease the transition into the corporate environment.
The SAG-AFTRA has called a strike of the Interactive Media Agreement that covers video game performers, effective July 26, the union said on Thursday. The decision follows months of negotiations with major videogame companies including Activision Productions, Electronic Arts, Epic Games, Take-Two Interactive, Disney Character Voices and Warner Bros Discovery's WB Games.
BJP leader Prabhat Jha took his last breath at a hospital in Delhi on Friday morning at the age of 67 years, after suffering from a long-term illness. Jha had served as Madhya Pradesh BJP president from May 8, 2010 to December 15, 2012. He was elected as the member of Rajya Sabha from Madhya Pradesh in April 2008. Madhya Pradesh Chief Minister Mohan Yadav expressed grief and paid condolences on the demise of the veteran leader.
Sun Pharma announced FDA approval of Leqselvi (deuruxolitinib) 8 mg tablets for severe alopecia areata, marking a major milestone after acquiring Concert Pharmaceuticals for $576 million. The drug, with a five-year marketing exclusivity, boosts Sun Pharma's specialty business. Shares rose 2.58%. Clinical trials showed significant hair regrowth in patients
The Union Budget 2024 brought respite for venture investors as it abolished the decade-old Angel tax. When asked about the reason behind the move, Sitharaman said that it was one of the many steps Centre took to help Indian startups thrive. This move, however, leaves those pending to pay their previously due angel taxes in a tough spot. Sitharaman has stated that the government is working to 'sort this out'.
Sanstar Stock Update: Sanstar shares climbed 19% on debut but underperformed expectations, prompting expert advice for profit booking due to elevated valuations.
VST Industries' shares surged 7.4% after the company announced a 10:1 bonus share issue, despite reporting a 36% YoY decline in PAT for the June quarter. The record date for determining shareholder eligibility is August 30. Shares will be credited by September 24.
Tata Power Solar Systems Ltd partnered with Bank of India to offer easy financing options for rooftop solar installations and EV charging stations. The collaboration aimed to support the government's green energy initiatives, offering loans with attractive interest rates and collateral-free options to residential users, housing societies, and MSMEs.
MRPL plans to sell 240,000 metric tons of jet fuel in term supplies from September to February. Interested buyers must submit proposals by July 31 to offload cargo between the 1st-28th of each month. This exploratory move, not an official sale tender, offers limited buyer obligations. MRPL has not offered term cargoes in the past two years.
Congress leader Rahul Gandhi has denied allegations of defamation against Union Home Minister Amit Shah in a Uttar Pradesh court. The case was filed in 2018 and was registered based on a complaint lodged by BJP leader Vijay Mishra. Gandhi was granted bail in February and has since been defended by his lawyer, Santosh Kumar Pandey.
French IT consulting firm Capgemini revised its 2024 revenue forecast downward, predicting a fall of 0.5% to 1.5%, mainly due to weak performance in North America. This region saw a 5.4% decline in revenue year-on-year. CEO Aiman Ezzat highlighted challenges in the automotive, aerospace, and financial sectors affecting growth.
Jindal, speaking at the annual general meeting, said that as a result of weakened global market for steel and higher imports of the metal into India, the margins for local steelmakers have been affected despite a growth in domestic steel demand. Jindal added that geopolitical risks continue to remain high, particularly regarding their impact on commodity and energy prices.
Finance Minister Nirmala Sitharaman acknowledged the challenges of rising food prices and emphasized the use of high-yielding and climate-resistant seeds. She highlighted measures to bridge gaps in seasonal changes, promoting closer cultivation and longer shelf life through irradiation technology. Inflation in the food segment surged to 9.36% in June, nearly doubling from a year ago.
The report aims at decoding the valuable insights into the factors driving the ecommerce revolution in Bharat by examining existing data trends in consumer behaviour, technological evolution, global ecommerce market and government initiatives.
Saturday bank holiday: Do keep in mind that this is the last weekend before the income tax return filing due date of July 31, 2024 Bank customers must make sure that their bank related work is not hampered on these bank holiday days.
NPS Employer contribution hike: Budget 2024 has increased the deduction available on the employer's contribution to the NPS account under the new tax regime to 14%. This is a good news for the salaried individuals. However, one important NPS deduction for salaried individual is still missing under the new tax regime.
Cyient shares fell 9% to Rs 1,724 on Friday after the company reported a decline in June-quarter profit due to project execution delays. The first-quarter net profit dropped 23.8% sequentially to Rs 144 crore, and decreased 18.6% YoY for the Hyderabad-based firm.
Certain taxpayers are displeased with the Modi government's removal of indexation benefits on realty sales. Finance Minister Nirmala Sitharaman defended the decision, stating it simplifies taxation and offers a 12.5% LTCG rate without exemptions. While critics argue against it, the government believes the new regime benefits long-term property holders, enhancing market dynamics.