RBI keeping an eye on rupee’s exchange rate: Finance Minister
The Reserve Bank of India is keeping an eye on the exchange rate of the rupee, Finance Minister Nirmala Sitharaman said on July 1, after the rupee hit a fresh record low against the dollar. The government is in constant conversations with RBI on the exchange rate, Sitharaman told reporters in New Delhi on the sidelines of an event, adding that she was mindful that a weaker currency leads to higher import costs.
Coal India June production up 29% at 51.6 mt
There’s no exemption on SEZ unit from duty hike. Windfall tax will be applicable on SEZ & EOU units pic.twitter.com/y2pV4RVy6V
— CNBC-TV18 (@CNBCTV18Live) July 1, 2022
Market update at 2 PM: Sensex is down 333.66 points or 0.63% at 52685.28, and the Nifty shed 100.10 points or 0.63% at 15680.20.
Globus Spirits to provide various services to distillery assets of Tilaknagar Industries
Globus Spirits will be providing various services starting from engineering to ongoing operations, maintenance, and marketing services for distillery assets owned by Tilaknagar Industries.
It has entered into an arrangement for strategic, technical, manufacturing and marketing tie-up with the aim to offer an integrated service to operate the plant at the envisaged rated capacity of 140 KLPD distillery asset owned by TIL located at Ahmednagar, Maharashtra. The company will get service fee as a share of EBIDTA generated by the distillery assets.
Globus Spirits was quoting at Rs 931.00, up Rs 14.70, or 1.60 percent and Tilaknagar Industries was quoting at Rs 72.60, up Rs 3.45, or 4.99 percent on the BSE.
Nifty Energy index shed 3.7 percent dragged by the ONGC, Reliance Industries, Gail India
Maruti Suzuki India June Sales Data:Maruti Suzuki India Limited sold a total of 155,857 units in June 2022. Total sales in the month include domestic sales of 125,710 units, sales to other OEM of 6,314 units and exports of 23,833 units, company said in the release.The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models, it added.
Niraj Hutheesing, Founder and Managing Director of Cygnet Infotech:
Since the inception of GST in 2017, it has evolved at a fast pace to mitigate the inherent challenges of the previous tax regimes. The focus is gradually shifting from compliance to self-regulation and use of cognitive technologies to plug revenue leakages.
On the anvil is the even more exciting phase where technology will be at the forefront of tax transformation with interconnected systems, and linking between the value chain and the tax administration systems.
We are all set to meet the needs of the tax teams of tomorrow with our own IRP, GSP and tax-tech suite. I am excited to be a part of this evolving eco-system.
JUST IN | Gross GST collections for June was at Rs 1.44 lakh crore: Finance Minister
BSE Realty Index added 1 percent supported by the DLF, Godrej Properties, Sunteck Realty
City Union Bank to consider raising capital on July 6
A meeting of board of directors of City Union Bank scheduled to be held on July 6 to consider raising capital.
City Union Bank was quoting at Rs 132.80, up Rs 0.10, or 0.08 percent on the BSE.
Market at 1 PMBenchmark indices erased some of the intraday losses but still trading lower with Nifty below 15700.The Sensex was down 357.53 points or 0.67% at 52661.41, and the Nifty was down 114.20 points or 0.72% at 15666.10. About 1341 shares have advanced, 1649 shares declined, and 138 shares are unchanged.
