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.
Ashok Leyland June Auto Sales:
Nomura View On Maruti Suzuki
Nomura has kept neutral rating on Maruti Suzuki with a target at Rs 8,627 per share.
In 8 days of opening pre-bookings for Compact, received more than 45,000 bookings. It factor in 25%/9% volume growth in FY23/24 & market share to improve to 45% in FY23, reported CNBC-TV18.
Maruti Suzuki India was quoting at Rs 8,331.75, down Rs 138.45, or 1.63 percent on the BSE.
Windfall gains tax to dent last defence against bears
Aggregate earnings expectations are likely to see sharp cuts as the oil and gas sector’s contribution come under threat
Buzzing
The Phoenix Mills, RZPL and each of PML subsidiaries (viz. Offbeat Developers-ODPL, Graceworks Realty and Leisure-GRLPL and Vamona Developers-VDPL) have executed an additional subscription agreement.
After this, Reco Zinnia (RZPL), owned by GIC (Realty), has completed its second tranche of investment of Rs 400 crore across ODPL, VDPL and GRLPL on private placement basis by subscribing to the equity shares of each of the PML subsidiaries.
As a result, Phoenix Mills (PML) and RZPL hold 67.10 percent and 32.90 percent respectively, stakes in each of the PML subsidiaries.
Phoenix Mills was quoting at Rs 1,189.30, up Rs 8.50, or 0.72 percent on the BSE.
