India News Get -BusinessBusiness News Update; Share Market, Gold and Silver Rates, Petrol and Diesel Price Today, Vodafone Indus Towers
The big news yesterday was about Vodafone. British telecom company Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore. At the same time, the Supreme Court stayed the show cause notice against online gaming companies for Goods and Services Tax (GST) of Rs 1.12 lakh crore.
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1. Vodafone sells its entire stake in Indus Towers: raises Rs 2,800 crore and also pays dues of ₹ 890 crore
British telecom company Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore. The telecommunications infrastructure company gave this information in a regulatory filing on Friday (January 10).
The company said in the filing that Vodafone sold 7.92 crore shares, or 3 per cent stake, in Indus Towers. The fund of Rs 890 crore raised through this was used to repay the dues of the lenders.
2. SC bans GST notices from online gaming companies: GST notices worth Rs 1.12 lakh crore sent to companies
The Supreme Court has stayed show cause notices against online gaming companies for charging goods and services tax (GST) worth Rs 1.12 lakh crore. The court ordered that further proceedings relating to the GST notice be postponed until a final solution is found.
This matter concerns the first seven months of the 2022-23 financial year and the 2023-24 financial year. Online gaming companies say that by October 1, 2023, GST should be imposed at the rate of 18% instead of 28%, as the tax rule at the rate of 28% was to be implemented from October 1 october. However, the government claims that the amendment made on October 1 was a clarification of the law already in force.
3. TCS shares rose 6% after quarterly results: Closed at ₹4,265, the company made a profit of ₹12,380 crore in the third quarter.
Shares of IT company Tata Consultancy Services Limited (TCS) saw a rise of around 6% (January 10). However, at the end of the session, TCS shares closed at Rs 4,265 with a rise of 5.6%.
The company’s third-quarter results were released a day earlier. This rise in the company’s shares is explained by positive results. Shares of the company have given a return of 3.66% over the last five days.
4. Gold became more expensive by ₹400, reaching ₹78,018 per 10 grams: Silver price increased by ₹468, reaching ₹90,268 per kg.
Gold prices increased on Monday January 10. According to the India Bullion and Jewelers Association (IBJA), 10 grams of 24-carat gold rose by Rs 400 to Rs 78,018. On Thursday, its price was Rs 77,618 per ten grams.
At the same time, the price of one kg of silver increased by Rs 468 to Rs 90,268 per kg. Earlier on Thursday, silver price was at Rs 89,800 per kg. Gold had touched an all-time high of Rs 79,681 per 10 grams on October 30 last year. At the same time, silver had touched Rs 99,151 per kg on October 23, 2024.
5. SIP investment crosses Rs 26,000 crore for the first time: increased by 50% in a year; Mutual fund portfolios hit record 22.5 crore in December
Investment in mutual funds through systematic investment plan i.e. SIP is constantly increasing. Last December, for the first time the monthly SIP crossed Rs 26,000 crore. It was Rs 17,610 crore in December 2023, which increased by 50.25% to Rs 26,459 crore last month. Meanwhile, mutual fund portfolios also touched a record Rs 22.50 crore.
The net investment (minus withdrawals) in equity schemes last month stood at Rs 41,156 crore. This is 142% over one year and 14.5% more than in November. The highest net investment of Rs 15,332 crore was made in sectoral/thematic programmes. On the other hand, there was a net withdrawal of Rs 1.27 lakh crore from debt funds.
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