Adani Total Gas Limited (ATGL) posted a net profit of Rs 142.38 crore for Q4 2024, marking a 19.4% decline YoY. However, revenues from operations increased by 12.5% YoY. Despite reduced APM gas allocation, ATGL ensured uninterrupted CNG supply and focused on expanding its network, adding new CNG stations and connections, including the new Jalandhar GA.
Related news
Indians are shifting towards premium wines and spirits, creating growth opportunities for companies like Moet Hennessy. High taxes and varying state regulations complicate the market, making foreign liquor expensive. Ongoing FTA discussions, particularly with the UK, aim to reduce duties and boost consumption. Domestically produced wines, like Chandon, are also gaining popularity.
DeepSeek's rapid rise on social media has sparked excitement and stock market reactions. However, Bernstein's report reveals that DeepSeek's claims about building an OpenAI equivalent for $5 million are misleading, as significant research and development costs were overlooked, despite the impressive achievements of its V3 and R1 models.
A parliamentary committee will review the new Income Tax bill introduced by Finance Minister Nirmala Sitharaman. This bill aims to simplify the existing tax code by reducing the number of sections and word count significantly, and removing obsolete provisions, while establishing clear administrative frameworks and roles.
US stocks showed mixed movement on Wednesday. Most stocks rose, but key tech stocks like Nvidia and Tesla struggled, impacting the Nasdaq. The Dow Jones gained, while the S&P 500 slipped. The market steadied after recent corrections, with volatility expected to persist. Some stocks like GameStop and Dollar Tree performed well.
Value Attics Reinsurance has become the first private-sector reinsurer in India after receiving a licence from Irdai. Backed by Fairfax group’s Prem Watsa and Kamlesh Goyal, it aims to leverage international reinsurance expertise. The company will start with a paid-up capital of Rs 200 crore and is set to begin operations shortly.
PAN 2.0: PAN cardholders can get a reprinted card with a QR code. The reprint costs Rs 50. The income tax department will send the new card to your registered email address.
A Supreme Court order has affected the sale of Noida Toll Bridge Company. The sale was expected to generate substantial revenue for IL&FS shareholders and lenders. The company built the DND Flyway. The order impacts over 55,000 shareholders and financial institutions. The decision may influence future infrastructure projects. Noida Toll Bridge Company expressed concern over the ruling.
SBI raised concerns over the financial stability of women-centric Direct Benefit Transfer schemes in various states, highlighting a significant strain on state budgets. These schemes, costing over Rs 1.5 lakh crore across eight states, could pose fiscal risks, especially schemes like Karnataka's Gruha Lakshmi and West Bengal’s Lakshmir Bhandar. The report calls for a holistic evaluation of welfare spending.
The Indian rupee hit a record low against the dollar, closing at 84.85. Sanjay Malhotra's appointment as RBI governor sparked speculation of a dovish policy shift, with analysts predicting a rate cut as early as February. This expectation, coupled with India's weak economic outlook, could further depreciate the rupee to 86 by March 2025.
EPFO is set to integrate UPI payments to enable instant settlements for claims up to Rs 1 lakh. This upgrade aims to streamline the withdrawal process, reducing the settlement time from several days to minutes, enhancing accessibility and efficiency for subscribers.