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PAN and Aadhaar not linked? Penalty deadline for TDS deductors extended—here’s what it means

Tax collection at source (TCS) or deduction at source (TDS) rates were higher for individuals whose PAN was lost due to non-linking. For example, the housing allowance TDS increased to 20% for individuals without active PANs.

PAN, Aadhaar Card not linked? The income tax department has provided relief to those dealing with taxpayers who failed to link their PAN and Aadhaar by the June 30, 2023 deadline. The department has relaxed the deadline for imposing penalties on such cases.
Individuals whose PAN became inoperative due to non-linkage faced higher tax deduction at source (TDS) or tax collection at source rates.

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The Indian government has extended the deadline for integrating Aadhaar and PAN (Permanent Account Number) to June 30, 2024. Those who haven’t connected their PAN to Aadhaar yet are eligible for this extension. The PAN can stop working if the connectivity is not finished before the deadline.

Furthermore, the 15th of July, 2024, has been added to the deadline for deductors to provide Form 16, a certificate for tax deducted at source (TDS). With this extension, deductors will have additional time to meet the TDS standards.

In order to avoid penalties and guarantee compliance with tax legislation, it is crucial for people and deductors to finish these procedures within the extended deadlines.

Tech Mahindra stock hits the upper circuit by 10%, Following Q4 results; see the share price target

According to Tech Mahindra CEO Mohit Joshi, the company intends to resume growth in the second half of FY25. This year, the corporation intends to hire about 6,000 new hires.

Tech Mahindra’s stock rose more than 13% on Friday following the release of an ambitious three-year plan by the CEO aimed at boosting profitability and accelerating revenue growth. On the BSE, the shares surged 13% to Rs 1,344.95. It increased 13.16% to Rs 1,347 at the NSE. The market capitalization of the firm increased to Rs 1,26,705.84 crore, an increase of Rs 10,754.85 crore. It turned out to be the largest gainer on the NSE Nifty and the BSE Sensex.

Tech Mahindra Share Price Target:

CLSA and Nomura maintained a ‘buy’ call on the Tech Mahindra stock. CLSA raised the share price target from Rs 1,508 to Rs 1,589, and Nomura has kept a share price target at Rs 1,460. 

Citi has maintained a ‘sell’ call on the stock with a reduced target of Rs 1,095 from Rs 1,125.

Morgan Stanley and JPMorgan gave an ‘underweight’ rating on Tech Mahindra shares. Morgan Stanley set the target price at Rs 1,190 and JPMorgan hiked the share price target from Rs 1,050  to Rs 1,100. 

Jefferies and Macquarie maintained an ‘underperform’ rating with a share price target of Rs 1,065 (reduced from Rs 1,080 earlier) and Rs 930, respectively.

HSBC has maintained a ‘hold’ call Tech Mahindra with a target price of Rs 1,300. 

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Tech Mahindra Q4 results

The communications vertical’s weakness caused IT services giant Tech Mahindra to post a 41% decline in its consolidated net profit for the March quarter to Rs 661 crore on April 25. Despite this, the company’s CEO unveiled an ambitious three-year plan to boost margins and accelerate revenue growth.

Tech Mahindra CEO Mohit Joshi said the company hopes to come back to growth in H2 FY25. The company plans to onboard around 6,000 freshers this year.

The tech giant – which competes with the likes of TCS, Infosys, Wipro, and HCL Technologies – also spelled out a three-year plan to shore up the company’s revenue and margins.

Tech Mahindra’s consolidated net profit plunged almost 41 percent to Rs 661 crore for the quarter ended March 2024. For Q4 FY24, the revenue dropped by 6.2 percent year-on-year to Rs 12,871 crore.

Axis Bank Share Price Today Live Updates: Gains in Axis Bank Stock During Today Trade.

The price of Axis Bank stock increased by 4.35% today, April 25, 2024. The share price of the stock concluded at 1063.7. At the moment, a share of the stock is trading for 1109.95. In the upcoming days and weeks, investors should keep a careful eye on the price of Axis Bank’s stock to see how it responds to the news.

Axis Bank Share Price Today: Axis Bank had a high of ₹1069 and a low of ₹1055.45, opening at ₹1055.45, and closing at ₹1056.45. At 328473.66 crore, the market capitalization was recorded. ₹1151.5 was the 52-week high, and ₹853.75, was the low. There were 118,922 shares traded on the BSE.


Axis Bank share price live: Stock Peers

Today, Axis Bank’s stock price increased by 5.02% to reach ₹1117.1. Among its peers, Kotak Mahindra Bank is declining, while State Bank Of India, Punjab National Bank, and Bank Of Baroda are experiencing growth. The benchmark indices Nifty and Sensex are down by 0.23% and up by 0.18% respectively.

NameLatest PriceChange% Change52W High52W LowMkt. Cap (cr)
State Bank Of India786.012.81.66793.5542.95701474.5
Kotak Mahindra Bank1660.45-182.6-9.912063.01666.8329857.79
Axis Bank1117.153.45.021151.5853.75343715.14
Punjab National Bank135.152.11.58138.347.9148813.88
Bank Of Baroda263.94.71.81285.5172.85136472.25

Axis Bank share price live: Consensus analyst’s rating is Buy

The analyst recommendation trend is shown below with the current rating as Buy.

  • The median price target is ₹1263.0, 13.43% higher than the current market price.
  • The lowest target price among analyst estimates is ₹1055.0
  • The highest target price among analyst estimates is ₹1450.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy21212121
Buy15151515
Hold3333
Sell0000
Strong Sell0000

Axis Bank share price update: Hourly Price Movement Update

Axis Bank touched a high of 1119.0 & a low of 1098.3 in the previous trading hour.
The hourly support and resistance levels to watch out for in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 11116.57Support 11095.87
Resistance 21128.13Support 21086.73
Resistance 31137.27Support 31075.17

Axis Bank Live Updates

Current Axis Bank stock price: Stock Peers

Outperforming its peers, Axis Bank’s stock price rose by 3.93% today to ₹1105.5. State Bank of India, Punjab National Bank, and Bank of Baroda are all seeing value increases, but Kotak Mahindra Bank’s stock is down. Benchmark indices for the Nifty and Sensex are down -0.12% and -0.05%, respectively.

NameLatest PriceChange% Change52W High52W LowMkt. Cap (cr)
State Bank Of India779.86.60.85793.5542.95695941.24
Kotak Mahindra Bank1655.65-187.4-10.172063.01666.8328904.24
Axis Bank1105.541.83.931151.5853.75340145.99
Punjab National Bank134.00.950.71138.347.9147547.61
Bank Of Baroda262.02.81.08285.5172.85135489.69

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Share price of Axis Bank today: Futures are up 3.33%, and open interest is up 0.21%.
An increase in Axis Bank futures prices and open interest suggests that there may be favorable price movement shortly and that traders should think about holding onto their long holdings.

Axis Bank share price update : Axis Bank is trading at ₹1109.95, up 4.35% from yesterday ₹1063.7

Axis Bank share price is at ₹1109.95 and has crossed the key daily resistance price level of ₹1083.58. This indicates that the stock is experiencing significant buying interest and the price can escalate further.

Axis Bank share price live: Price Analysis

Axis Bank’s share price is now trading at ₹1093.15, up 2.77% from its previous close. The price of Axis Bank shares has increased by 21.05% to ₹1093.15, during the last year. On the other hand, in the same year, the Nifty index increased by 26.26% to 22402.40.

Time PeriodPrice Analysis
1 Week1.08%
3 Months-3.41%
6 Months11.28%
YTD-3.54%
1 Year21.05%

Axis Bank Q4 Results: Net profit at ₹7,130 crore, NII rises 11.5% YoY, dividend declared; 5 key highlights

Axis Bank Q4 Results: Compared to ₹11,742 crore in the same time last year, the private sector lender’s net interest income—the difference between interest collected and paid—rose 11.5% year over year to ₹13,089 crore.

Axis Bank share price update: Key support and resistance levels

The key support and resistance levels for Axis Bank on the daily timeframe are given below. Please note these support and resistance levels are derived from the classic pivot table.

Resistance LevelsPriceSupport LevelsPrice
Resistance 11070.63Support 11057.68
Resistance 21076.27Support 21050.37
Resistance 31083.58Support 31044.73

Axis Bank share price live: Consensus analysts’ rating is Buy

The analyst recommendation trend is shown below with the current rating as Buy.

  • The median price target is ₹1263.0, 18.7% higher than the current market price.
  • The lowest target price among analyst estimates is ₹1055.0
  • The highest target price among analyst estimates is ₹1450.0

Axis Bank share price Today: Axis Bank volume yesterday was 5 mn as compared to the 20 day avg of 13796 k

The trading volume yesterday was 58.25% lower than the 20 day average. Yesterday’s NSE volume was 5 mn & BSE volume was 118 k.

Axis Bank share price Live: Axis Bank closed at ₹1056.45 on last trading day & the technical trend suggests Bullish near term outlook

The stock traded in the range of ₹1069 & ₹1055.45 yesterday to end at ₹1056.45. the stock is displaying strong indications of a trend reversal following a downtrend

Bitcoin slides below $60,000 on reports Israel strikes Iran.

As the U.S. dollar strengthened significantly throughout the Asia session, bitcoin fell more than 5.5% to $59,961.

Following concerns of an Israeli missile attack on Iran, investors fled riskier assets, sending cryptocurrencies plunging sharply down. On Friday, bitcoin plunged below $60,000.

During the Asia session, Bitcoin fell over 5.5% to $59,961 as the US dollar strengthened significantly. Ether declined similarly, falling to $2,895 from below the $3,000 threshold.

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Days after Iran launched a drone strike on Israel, ABC News claimed, citing a U.S. official, that Israeli missiles struck an Iranian location.

The Iranian news agency Fars reported that there was an explosion audible at the Isfahan airport.

Bonds, gold, and oil all saw strong gains.

Moh Siong Sim, a currency strategist at the Bank of Singapore, stated, “I think markets are currently in a flight to safety mode.” We continue to be in a scenario where we are aware that something has occurred. However, we must comprehend the extent of the retaliation.”
Although it was down 2% for the day, Bitcoin was back up at $62,300. Ether returned to levels above $3,000.
The reduction in the value of bitcoin occurs just a few hours before its ‘halving,’ which is a modification to its core technology intended to slow down the creation of new bitcoins, on Friday.

“Stabilized our operations; pilot rosters were stretched:” Kannan, the CEO of Vistara

Vistara CEO Vinod Kannan addressed severe flight disruptions caused by inhumane rostering. Pilots protested due to ATC delays, bird hits, and maintenance activities. Operations have now stabilized despite challenges in merging with AI.

NEW DELHI: Vinod Kannan, CEO of Vistara, stated on Thursday that “the worst is behind us and we have stabilised our” Following severe flight at the beginning of this month due to issues such as its cruel rostering, which protesters protested by reporting sick in large numbers. Kannan acknowledged the pilots’ legitimate complaints in an internal newsletter to staff members, stating: “(ATC delays, bird hits, and maintenance activities were among the reasons for disruptions.) We were overextended in our pilot, and our resistance was insufficient to endure injections that we would have otherwise survived.

We need to have done a better job of planning. We will go over everything we learned from this event in detail.There is intense anxiety among staff members over the upcoming merger of low-cost AIX Connect (formerly AirAsia India) into Air India Express, which is proceeding without a hitch as the former’s staff members realize this is the only way to survive.

Kannan must alleviate the worries of Vistara personnel and make sure the merger occurs by the end of the year as smoothly and painlessly as possible. This includes complete service carriers’ integration. The problems with Vistara earlier this month have demonstrated that navigating the minefield of airline mergers and acquisitions in India, where former AI-Indian Airlines, Jet-Sahara, and Kingfisher-Deccan mergers are located, will not be simple.

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This article is originally published by timesofindia.

Zomato CEO Deepinder Goyal marries Mexican entrepreneur Grecia Munoz…

Entrepreneur Grecia Munoz and Zomato CEO Deepinder Goyal have reportedly tied the knot, according to Moneycontrol.com.

The individual stated that their wedding occurred over a month ago while declining to reveal their identify. Model Munoz, who was born in Mexico, is presently concentrating on starting her own high-end consumer goods company.

Goyal, the man behind the food delivery service, and Munoz, a Mexican native, reportedly returned from their honeymoon in February.

Goyal is getting married again. He initially married Kanchan Joshi, a student at IIT Delhi whom he had met.

Click Here To Read Deepinder Goyal (CEO of Zomato) Biography

Teases from Munoz’s “Dilli Darshan” were already made public in January.

Instagram users saw Munoz sharing photos of herself exploring some of the most famous locations in the country’s capital, such as the Red Fort, along with the statement, “Glimpses of my new life at my new home.”
41-year-old Deepinder Goyal established and currently serves as the CEO of Zomato, an app for food delivery with its headquarters located in Gurugram. He started the company in 2008 under the name Foodiebay out of his home.

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This Article is originally posted by NEWS18

Isha Ambani Reliance Retail Tira beauty launches international brand Allies of Skin to India!

Isha Ambani, who has a strong focus on growth, has led Reliance Retail’s efforts to work with many well-known foreign brands to help them enter the Indian market.

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Isha Ambani’s Reliance Retail is launching Allies of Skin in India.Tira takes on Nykaa, Tata Cliq Palette, and Myntra. Reliance Retail plans to expand its presence in tier 1 and tier 2 cities as it prepares for its initial public offering. Reliance Retail, a subsidiary of Mukesh Ambani’s Reliance Industries, has emerged as one of the conglomerate’s most successful entities under Isha Ambani’s leadership, with a market capitalization of more than Rs 1,860,000 crore.

Isha Ambani, who has a strong focus on growth, has led Reliance Retail’s efforts to work with many well-known foreign brands to help them enter the Indian market. Isha Ambani, the twin sister of Akash Ambani, studied psychology and South Asian studies at Yale University. Isha, a Stanford University MBA programme graduate, attended Dhirubhai Ambani International School. Since taking over from her father, Mukesh Ambani, the company’s valuation has grown significantly, reaching an astounding Rs 820,000 crore at present. 

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According to the Times of India, Reliance Retail is expanding further under Isha Ambani’s direction and is now bringing the renowned skincare brand Allies of Skin to India. Under Isha Ambani’s direction, Tira is one of Reliance’s newest beauty endeavours. It faces competition from top platforms such as Nykaa, Tata Cliq Palette, and Myntra. Tira has been aggressively bringing in foreign brands, the most recent being Allies of Skin. 

Reliance Retail wants to increase its footprint in tier 1 and tier 2 cities nationwide as it prepares for its planned initial public offering (IPO). The announcement of Isha Ambani’s appointment to Reliance Retail’s leadership in August 2022 highlights her critical position in the strategic orientation of the business. 

Reliance Retail, which currently employs 2.5 lakh people, is home to a wide range of international brands, such as Burberry, Jimmy Choo, Hugo Boss, Georgio Armani, Versace, Michael Kors, and Brooks Brothers. Reliance Retail is the only Indian retailer in the global top 100 list, with an impressive 78 crore foot traffic to its stores and over 100 crore transactions. This solidifies its position among the top 10 most visited retailers worldwide. 

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Rituals Anant Ambani-Radhika Merchant followed before marriage: During Anna Seva, Mukesh Ambani and his family feed the villagers. The visionary behind Reliance Retail, Isha Ambani, is a prime example of extraordinary business acumen and skill. 

In India’s extremely competitive market, she has taken Reliance Retail to previously unheard-of heights with her strategic vision and dynamic leadership. Under her direction, the business has developed strategic partnerships with well-known international brands, increased its presence in Tier 1 and Tier 2 cities, and continuously seen impressive valuation growth.

Isha’s ability to successfully negotiate challenging business environments and her steadfast dedication to innovation and quality highlight her reputation as a powerful force in the industry. She has been recognised as a visionary leader influencing the future of retail in India and beyond thanks to her strategic initiatives and forward-thinking approach, which have also solidified Reliance Retail’s position as the industry leader.

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Aditya Birla group eyes Rs 10,000 crore revenue from decorative paints business in 3 years: Kumar Mangalam Birla

Aditya Birla group is targeting an initial revenue of Rs 10,000 crore and profitability within three years of full operations of its new venture of decorative paints business, Chairman Kumar Mangalam Birla said. 

Aditya Birla group

Aditya Birla group is targeting an initial revenue of Rs 10,000 crore and profitability within three years of full operations of its new venture of decorative paints business, Chairman Kumar Mangalam Birla said on Thursday. The group on Thursday commenced operations at three plants for its new decorative paints business under Birla Opus.

“Our vision is ambitious and our initial goal is clear, to clock revenues of Rs 10,000 crore and turn profitable not later than the third year of full scale operations,” Birla said, while launching the Birla Opus Paints Business and inaugurating three Birla Opus paints plants at Panipat (Haryana), Ludhiana (Punjab) and Cheyyar (Tamil Nadu).

Grasim Industries, the flagship firm of the group, had last year announced its foray into the decorative paints business committing investments of Rs 10,000 crore with plans to set up six manufacturing plants in India by 2025.

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More About Birla Opus

The plants, located in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal, will have a total capacity of 1,332 million litres per annum (MLPA) to serve demand centres across the country.

In September last year the company had unveiled the brand name of its paints business ‘Birla Opus’.

The market launch of Birla Opus is scheduled for the fourth quarter of FY24.

This marks the group’s entry into the rapidly expanding Rs 80,000 crore Indian decorative paints market.

Birla Opus business is being set up by the group’s flagship company Grasim Industries Ltd.

In his address, Birla said India today is teeming with dynamism, audacity, and a penchant for disruption.

“This India finds a reflection in our paints venture, Birla Opus. The Aditya Birla Group’s deep insight into the building materials ecosystem, honed over the years, offers us a unique vantage point,” he said.

Further, he said Birla Opus, therefore, is poised to transform the paint industry with a 40 per cent addition to current capacity. “No paint company globally has ever launched in one shot — factories, operations, products, and services, at the scale that we are about to undertake,” Birla claimed.

Birla Opus products will be available in Punjab, Haryana, and Tamil Nadu from mid-March 2024 and across all 1 lakh population towns in India by July 2024, he said. The company aims to expeditiously expand its distribution to over 6,000 towns by the fiscal year end.

The three other plants in Karnataka, Maharashtra, and West Bengal will become operational later this year. Chamarajanagar (Karnataka), Mahad (Maharashtra) and Kharagpur (West Bengal) units will commence production over the course of FY25.

This article is originally published on Zeebiz.com

Overtaking Ratan Tata, Adani, Elon Musk, Sundar Pichai, and others, Mukesh Ambani rises to the top of the Indian rankings and ranks No. 2 in the world in…

The 2024 Brand Guardianship Index by Brand Finance places Indian businessman Mukesh Ambani #1 among all Indians and second worldwide.

Mukesh Ambani  latest news

Indian business tycoon Mukesh Ambani, the chairman and managing director of Reliance Industries is known for holding rank in world’s richest person list, but this time he has been ranked first among all Indians and second globally in the Brand Guardianship Index 2024 compiled by Brand Finance. Mukesh Ambani surpasses Microsoft’s Satya Nadella, Google’s Sundar Pichai, Apple’s Tim Cook, Tesla’s Elon Musk, and Indian business magnates such as Ratan Tata and Adani.

Mukesh Ambani ranked No.2 globally only behind Tencent’s Huateng Ma in Brand Finance’s 2024 Brand Guardianship Index. According to the publication, the Brand Guardianship Index is a global recognition of CEOs, who are building business value in a sustainable manner, by balancing the needs of all stakeholders – employees, investors, and the wider society. Tata Sons chairman N Chandrasekaran is ranked at No.5, up from No.8 in the 2023 ranking. He is followed by Anish Shah of Mahindra and Mahindra at No.6 and Infosys’ Salil Parekh at No.16.

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Brand Finance’s survey gave Ambani a BGI score of 80.3, just below 81.6 of Huateng Ma of China-based Tencent. Brand Finance constructs a balanced scorecard of measures designed to identify the factors that best capture the ability of CEOs to act as a steward of their company’s brand and steward long term value.

This year’s analysis reveals that ESG has become the single most important driving force in determining CEO reputation. Being regarded as ‘a sustainability champion’ accounts for 14 per cent of variation in reputation scores, ahead of factors such as perceived trustworthiness (12.5 per cent), having ‘a strong strategy and vision’ and global recognition.

This article is sourced from DNAindia.com!

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India now has the fourth-largest stock market in the world, overtaking Hong Kong!

Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India.

Indian exchanges value reach $4.33 trillion, exceeding Hong Kong’s $4.29 trillion: Bloomberg data.

India’s stock market has surpassed Hong Kong’s for the first time with the total value of shares listed on Indian exchanges reaching $4.33 trillion as of Monday’s close, exceeding Hong Kong’s $4.29 trillion, according to Bloomberg data. This makes India the world’s fourth-largest equity market.

The stock market capitalisation surpassed $4 trillion on December 5, with about half of that coming in the past four years, the report added.

Indian equities are surging, fuelled by a growing base of retail investors and robust corporate earnings. India presents itself as a viable alternative to China, attracting global capital and companies due to its stable political environment and a consumption-driven economy among the fastest-growing globally, according to the report.

Ashish Gupta, CIO at Axis Mutual Fund in Mumbai, expressed optimism, saying, “India has all the right ingredients in place to set the growth momentum further.”

China’s appeal as a global growth engine has diminished’

This upward trajectory in Indian stocks contrasts sharply with Hong Kong, which has experienced a historic downturn. Factors contributing to Hong Kong’s decline include stringent anti-Covid-19 measures in Beijing, regulatory crackdowns, a property-sector crisis, and geopolitical tensions with the West, the report said.

This has diminished China’s appeal as a global growth engine, resulting in a significant equities downturn, with Chinese and Hong Kong stocks losing over $6 trillion in total market value since their 2021 peaks, according to the report. Hong Kong’s role as a prominent hub for initial public offerings has waned amid the turmoil, it added.

This article is sourced from Hindustantimes News!

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