The DGCA issued a warning letter to Akasa for lapses in dangerous goods carriage found during a December 2024 inspection. Violations included unchecked electronic devices with lithium batteries and shipments over permissible limits. Akasa admitted the lapses and took corrective actions. The DGCA warned Akasa to ensure future compliance and submit an internal audit report within 30 days.
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Tata Consultancy Services (TCS) reported a 12% increase in net profit for the December quarter, reaching Rs 12,380 crore. Revenue for Q3FY25 grew by 5.6% to Rs 63,973 crore.
GCMMF has announced a Re 1 price reduction per litre for its one-litre Amul milk packs across India to encourage consumers to buy larger packs. In Delhi, Amul Gold will now cost Rs 67, and Amul Taaza is priced at Rs 55. GCMMF reported an 8% growth in turnover and continues to expand its global presence.
The Indian stock market closed higher, led by gains in financial and energy stocks following the RBI's $21 billion liquidity infusion and lower crude prices. The BSE Sensex and Nifty 50 both rose significantly. Positive global cues, particularly from a temporary tariff reprieve in the US, also bolstered investor sentiment.
Digvijay Laxmansinh Gaekwad, a Florida-based investor, is required to appoint a merchant banker to comply with Sebi's takeover rules before making an acquisition offer for Religare Enterprises. Gaekwad has offered Rs 275 per share, a 17% premium over the Burmans' Rs 235 offer. Approval from RBI is required for him to open an escrow account.
Lakshmi Venu, director of TAFE and daughter of CMD Mallika Srinivasan, is appointed vice-chairperson of TAFE. This aligns with the next generation taking leadership roles in TAFE and TVS, where her brother Sudarshan Venu is MD of TVS Holdings and TVS Motor Company. Lakshmi aims to enhance TAFE's growth and success.
Tax laws determine a person's residency status based on their stay in India. To ease compliance for non-resident taxpayers, introducing thresholds for tax residency certificates, relaxing norms for Form 10F, facilitating tax payments and refunds, and easing e-verification processes are suggested measures.
Irdai has proposed a cap on health premium hikes for seniors, limiting increases to 10% without prior approval. Insurers must also seek approval before discontinuing policies for the elderly, and are encouraged to standardize hospital costs, similar to PMJAY. New guidelines mandate transparency in justifying any price hikes for senior citizens' health insurance.
US stock markets fell after President Trump announced higher tariffs on Canadian steel and aluminum. The Dow Jones dropped 625 points. Companies like Delta and Southwest Airlines revised their revenue forecasts due to uncertainty. Tesla's stock rose as Trump expressed support for the company. Major tech stocks showed stability despite the market turmoil.
Apple's iPhone production in India has surged by 60% to $22 billion, now accounting for one in five iPhones globally. This shift, driven by geopolitical tensions and supply chain vulnerabilities, positions India as a key export hub. Foxconn is expanding its manufacturing footprint in Uttar Pradesh, signaling a long-term commitment to India's growing industrial ecosystem.
US President Donald Trump's approach in the second term on tariff announcements have been perceived by markets as a more gradualist approach compared to his earlier aggressive campaign rhetoric, says a report by Union Bank of India.