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Bloomberg Quint
12h
162
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NFRA Fines Deloitte Rs 2 Crore For Lapses In Zee Entertainment Audit
- The National Financial Reporting Authority has fined Deloitte Haskins & Sells LLP Rs 2 crore for alleged lapses in auditing Zee Entertainment Enterprises Ltd. during the 2018-19 and 2019-20 financial years.
- In addition to the fine, A B Jani, the engagement partner, has been imposed a penalty of Rs 10 lakh and banned from taking on any audit work for five years. Rakesh Sharma, the engagement quality control review partner, was fined Rs 5 lakh and barred from audit work for three years.
- The regulator conducted a suo motu review of the audit file for the statutory audit of Zee Entertainment for the specified periods to determine if the auditor had engaged in any professional misconduct.
- After reviewing the audit file, the audit firm's responses to queries, and other records, the NFRA found that the auditors had not fulfilled their professional responsibilities as per the Companies Act and the Standards on Auditing.
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Bloomberg Quint
13h
345
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Akasa Air fined Rs 10 lakh For Refusing Boarding, Denying Compensation
- The Directorate General of Civil Aviation (DGCA) has fined Akasa Air Rs 10 lakh for refusing boarding to seven passengers on a delayed Bengaluru-Pune flight.
- The incident occurred on September 6, when the flight was grounded due to damage caused by a foreign object.
- The passengers were accommodated on an IndiGo flight to Pune, but Akasa Air failed to provide compensation.
- The penalty was imposed for violating civil aviation regulations and the airline has been given 30 days to pay the fine.
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Bloomberg Quint
13h
319
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UltraTech Cement Gets Rs 36-Crore Tax Demand From Ujjain GST Authority
- UltraTech Cement received a demand order of about Rs 36 crore from the Ujjain GST authority.
- The order includes a tax demand of Rs 17 crore and an additional Rs 17 crore in interest and penalty.
- A second order demanded a tax of Rs 99 lakh and Rs 1.04 crore in interest and penalty.
- UltraTech Cement is reviewing the orders and will decide on further course of action.
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Bloomberg Quint
14h
243
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Job Applications From Women Soar By 20% In 2024: Report
- Women accounted for a 20% increase in job applications in 2024 compared to the previous year.
- The overall job applications increased by 25% year-on-year, driven by increased participation from women and youth.
- There was a 28% increase in median salaries of women in 2024, indicating progress in gender equality in the workforce.
- Women are excelling in sectors such as healthcare, hospitality, retail, and e-commerce and embracing unconventional roles.
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Bloomberg Quint
14h
123
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Indian Oil To Invest Rs 61,000 Crore In Naphtha Cracker Project At Paradip
- Indian Oil Corp. plans to invest Rs 61,000 crore in establishing a naphtha cracker project at Paradip, Odisha.
- An MoU for the project will be signed between the Odisha government and IOCL during the 'Utkarsh Odisha—Make in Odisha 2025' summit in January.
- IOCL will also lay the foundation stone for their Rs 4,352 crore yarn project at Bhadrak during the event.
- The projects will create huge employment opportunities for the youth and boost the manufacturing sector in the state.
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Bloomberg Quint
14h
207
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IRCTC Has Stopped Paying Compensation To Passengers For Delay In Private Trains, RTI Reveals
- Indian Railway Catering and Tourism Corp. (IRCTC) has stopped paying compensation to passengers for delays in private trains, as revealed by an RTI response.
- The compensation scheme, which gave Rs 26 lakh to passengers from Oct. 4, 2019, to Feb. 16, 2024, has been discontinued since February 15, 2024.
- IRCTC operates two Tejas trains, one between New Delhi and Lucknow and the other between Ahmedabad and Mumbai.
- The decision to stop compensation was a part of marketing activities to attract passengers towards private trains.
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Bloomberg Quint
14h
196
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Buy, Sell Or Hold: M&M, IOC, Asian Paints, Oil India, Varun Beverages — Ask Profit
- Market analysts provide insights for short-term and long-term investors on buying, selling, or holding shares of Shakti Pumps, Varun Beverages, and others.
- KPIT Technologies: Analyst suggests selling on rise as downside potential is expected.
- Aurobindo Pharma: Analyst recommends buying, stating it as a good stock for the long term.
- Indian Oil Corp: Analyst advises holding due to attractive dividend yield and potential upside in the long term.
- Asian Paints: Analyst suggests selling on rise as the stock shows a lower-high, lower-top pattern.
- M&M: Analyst recommends holding, citing strong sales demand and low consumption.
- Oil India: Analyst suggests holding for long term, as the stock corrects from high levels.
- Shakti Pumps: Analyst suggests selling in the short term and holding for the long term.
- Varun Beverages: Analyst advises holding, as the stock consolidates and has potential for a bullish trend.
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Bloomberg Quint
14h
142
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Dabur Vs Patanjali: The Chyawanprash Showdown Hits Delhi High Court
- Dabur India has moved the Delhi High Court seeking to restrain Patanjali from running misleading advertisements featuring Baba Ramdev to disparage its Chyawanprash product.
- Dabur alleges that an advertisement by Patanjali falsely claims that only their Chyawanprash is authentic, and all other brands lack the traditional Ayurvedic knowledge required for its preparation.
- Senior Advocate Akhil Sibal argued that such claims damage the reputation of competitors and mislead consumers.
- Patanjali has a history of running misleading advertisements and Dabur has demanded a detailed account of profits made illegally from the disputed advertisements.
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Bloomberg Quint
15h
160
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Manorama Industries Promoters Offload Stake Worth Rs 200 Crore
- Manorama Industries promoters Vinita Ashish Saraf, Shrey Ashish Saraf, Agastya Saraf, and shareholder Ritu Saraf offloaded stake worth Rs 200 crore through open market transactions on Tuesday.
- LIC Mutual Fund, Bank of India Mutual Fund, and Aditya Birla Sun Life Mutual Fund bought shares in the company.
- Shares of Manorama Industries fell as much as 5.99% during the trade on Tuesday but partially recovered to close 2.55% lower at Rs 1,090 per share.
- The stock has soared by 172.36% on a year-to-date basis and has marked a climb of 187.05% over the past 12 months.
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Bloomberg Quint
15h
127
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Income Tax Refunds Up 46% During April-November To Rs 3 Lakh Crore
- Income tax refunds amounting to about Rs 3.08 lakh crore were dispersed between April and November this year, which is about 46% higher than refunds during the same period in the preceding year.
- Approximately 98.35% of ITRs filed have been e-verified as of November 22.
- In July 2024, the highest number of ITRs were submitted, totaling 5.87 crore filings.
- Several new initiatives and improvements in the income tax e-filing process resulted in 47.52 lakh updated returns filed and streamlined processes.
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Bloomberg Quint
15h
138
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AirPods Pro 3: Heart Rate Tracking, Apple Intelligence, Built-In Cameras On The Way
- Apple is planning to integrate health features into its AirPods Pro 3, including heart rate monitoring, temperature sensing, and physiological tracking.
- The AirPods Pro 3 may be the first audio product to use Apple Intelligence and could have built-in cameras to capture data processed by AI.
- Apple may use a new H3 chip to power Apple Intelligence in the AirPods Pro 3, enabling additional health-related capabilities.
- Improved audio capabilities such as adaptive transparency and noise reduction are also expected in the updated AirPods Pro.
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Bloomberg Quint
15h
54
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HG Infra Engineering Arm Sells Stakes In Step-Down Subsidiaries
- HG Infra Engineering Ltd. announced that four of its step-down subsidiaries are no longer wholly owned by the company.
- The company's subsidiary, HG Green Energy Pvt., transferred 26% of its partial stake to Stockwell Solar Services Pvt.
- The construction and engineering company continues to hold stakes in the subsidiaries, but its shareholding is less than 100%.
- HG Green Energy sold stakes in HG Mathania Solar Project Pvt., HG Nokha Solar Project Pvt., HG Rajlani Solar Project Pvt., and HG Sri Dungargarh Solar Project Pvt.
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Bloomberg Quint
15h
43
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Solar, EVs And A Big Exit From Coal: 2024’s Good Climate News
- Solar capacity around the world was rolled out at a record pace, as bargain panel prices helped countries deploy cleaner energy.
- The British Library unveiled a £1.5 million ($2 million) solar installation on its roof this year.
- Norway prepared to meet its 2025 goal of eliminating fossil-fuel-powered car sales.
- Electric vehicle range anxiety was put to rest for many drivers in the US in 2024.
- Australia’s government began funding cheap loans to help low-income workers buy electric vehicles.
- US climate policies are now in question under the Trump administration.
- Brazilian President Luiz Inácio Lula da Silva’s promised to get tough on deforestation in the Amazon.
- The European Court of Human Rights ruled that the “Swiss Confederation had failed to comply with its duties” concerning climate change.
- Startups made new improvements on a technology that can draw water out of the driest skies.
- Many cities prepared for the impacts already being felt.
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Bloomberg Quint
15h
14
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Aurionpro Solutions Acquires Paris-Based Consultancy Fenixys For 10 Million Euros
- Aurionpro Solutions has acquired Paris-based consultancy firm Fenixys for 10 million euros (about Rs 90 crore) in an all-cash deal.
- Fenixys provides capital markets services to leading banks and financial institutions across Europe and the Middle East.
- The acquisition strengthens Aurionpro's banking and fintech strategy to expand its footprint in Europe and the Middle East.
- Shares of Aurionpro settled at Rs 1,750 apiece on the BSE, 1.06% higher than the previous close.
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Bloomberg Quint
15h
65
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Samsung India To Re-enter Residential AC Market With New Inverter Models In 2025
- Samsung India plans to re-enter the residential AC market with new inverter models in 2025.
- The company aims to launch over a dozen models of inverter ACs for its 2025 lineup.
- Samsung's new ACs will have smart features like Bespoke AI solutions targeting consumers looking for premium ACs.
- Samsung expects double-digit volume growth in the RAC segment in 2025, riding on the wave of premiumisation and aspirations.
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