Business

The Enforcement Directorate (ED) on Tuesday raided Hero MotoCorp CEO Pawan Munjal’s residence after it took cognisance of a Directorate of Revenue Intelligence (DRI) case. The DRI recently apprehended one of Munjal’s close aides in possession of undeclared foreign currency.  Officials told news agency PTI that these raids against Munjal are a part of a money laundering probe. Earlier this year,...

The last date for filing Income Tax Returns for Financial year 2022-23 is July 31, 2023. With just a day left, taxpayers are in a hurry to file their IncomeTax Returns and ITR filing numbers has reached a new milestone on Sunday.According to a latest update by the Income Tax Department, the number of taxpayers who have filed their Income...

IPO-bound Ola Electric, India’s largest e-scooter maker, recorded an operating loss of $136 million on a revenue of $335 million in the last financial year which concluded in March, said a report on Friday. The FY23 loss number of SoftBank-backed Ola Electric, which is preparing for an up to $700 million IPO, has not previously been reported or filed with...

The rupee gained 10 paise to 81.72 against the US dollar in early trade on Tuesday, tracking a weak American currency and a firm trend in domestic equities. Forex traders said significant foreign fund inflows and crude oil prices below $80 a barrel also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 81.75 against...

Tata Motors today reported a consolidated net profit of ₹ 3,300.65 crore in the first quarter ended June 30, riding on sharp improvements in performance of its British arm Jaguar Land Rover and commercial vehicles business. The company had posted a consolidated net loss of ₹ 4,950.97 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing. Consolidated revenue from...

Tesla is reportedly planning to work on a car built for the Indian market as well as for export. The car is likely to be priced at approximately Rs 20 lakh ($24,000). A Reuters report claims that Tesla representative will meet India’s commerce minister, Piyush Goyal, this month to discuss their ambitious plans of setting up a factory in India...

Elon Musk announced on Sunday that Twitter’s new logo, an X, would go live, replacing the distinctive bird logo in what would be the latest in a series of controversial shake-ups to the social media platform under his stewardship. “X.com now points to twitter.com,” the Tesla chief executive tweeted Sunday afternoon. “Interim X logo goes live later today.” Musk, who bought the...

Layoffs have surged in 2023, with nearly 194,000 employees affected across various industries in the US. This has left many fearing an impending recession According to a report from Forbes, 2023 has brought a storm of layoffs across various industries, with nearly 194,000 American employees finding themselves out of work in more than 150 major layoffs. The unsettling trend, affecting...

Equity benchmark indices Sensex and Nifty scaled fresh record high levels today, driven by unabated foreign capital inflows and intense buying in banking and FMCG stocks. The 30-share BSE Sensex jumped 474.46 points or 0.71 per cent to settle at its fresh all-time closing high of 67,571.90. The benchmark recovered all its early lost ground during the afternoon trade. During...

Researchers have found an anti-ageing function in a protein deep within human cells. The protein, ATSF-1, controlled the fine balance between creation of new and repair of damaged mitochondria, the part of cell responsible for producing energy, the researchers at the Queensland Brain Institute (QBI), The University of Queensland, Australia, discovered. Mitochondrial dysfunction lies at the core of many human...

Union Food and Consumer Affairs Minister Piyush Goyal on Monday launched the sale of subsidised chana dal at Rs 60 per kg under a brand name ‘Bharat Dal’ to provide pulses at an affordable rate to consumers. Chana dal is being sold in Delhi-NCR through the retail outlets of National Agricultural Cooperative Marketing Federation (NAFED). It will also be available...

Amid the online gaming industry raising concerns over the levy of 28 per cent GST, Union minister Rajeev Chandrasekhar on Monday said the government may request the GST Council to consider the facts of new regulatory framework for the industry. The minister also mentioned that it took three years for the Council to reach a decision on online gaming. Online...