Simplified tax framework: Key to India’s growth journey; Budget 2025 Expectations; American Airlines jet collides with Army helicopter; Tech & more
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Voltas Share Price: Tata Group enterprise falls 11% after Q3 results miss
Shares of Leading residential air conditioner maker Voltas Ltd. fell over 11% on Thursday, January 30, after the Tata Group company missed earnings expectations for the December quarter.
Voltas reported results after market hours on Wednesday, where its net profit of ?130.8 crore was below a CNBC-TV18 poll of ?155 crore. The company had reported a net loss of ?28 crore during the base quarter.
Revenue from operations increased by 18.3% to ?3,105.1 crore against ?2,625 crore in the corresponding period of the preceding fiscal. The CNBC-TV18 poll had predicted revenue of ?3,015 crore for the quarter under review.
Budget 2025 Expectations LIVE: Steel industry seeks protectionist measures & incentives
Indian steel industry leaders are urging the government to implement protectionist measures in the upcoming Union Budget 2025-26 to curb steel dumping and ensure a level playing field. Industry executives emphasise the need for higher customs duties on non-FTA stainless steel imports, fiscal incentives, and logistical support to offset rising input costs. They also seek continued infrastructure investments and tax benefits for green steel initiatives. The sector views these steps as crucial for sustaining growth and achieving India's Viksit Bharat@2047 vision.
American Airlines Kansas-Washington jet collides midair with Army helicopter at Reagan airport
A passenger jet collided with a helicopter while landing at Reagan Washington National Airport in the United States, the Federal Aviation Administration (FAA) said. There were 60 passengers and four crew members on board the aircraft.
The FAA and National Transportation Safety Board (NTSB) will investigate the incident.
All takeoffs and landings from the airport near Washington were halted as helicopters from agencies across the region flew over the scene in search of survivors. Inflatable rescue boats were being launched into the Potomac River from a point near the airport along the George Washington Parkway, just north of the airport.
Whirlpool India shares fall 20% after parent announces further stake sale by year-end
Shares of Whirlpool of India Ltd. have opened 20% lower after Whirlpool Corporation, parent company of consumer durables manufacturer Whirlpool of India Ltd. has announced its intention to sell down its ownership stake further from the existing 51% to up to 20% by mid-to-late-2025.
Whirlpool Corporation made the announcement alongside its quarterly earnings release and nearly a year after selling 24% stake in the Indian arm on February 20 last year.In case this does happen, Whirlpool Corporation will become a minority shareholder as its stake will drop below 26%. Whirlpool Corporation currently owns a 51% stake in the company.
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Budget 2025: Key policy priorities and watchouts for data centres, smart tech industry
India's data centre market experienced massive growth in 2024, fuelled by digital transformation, internet penetration, increased data consumption, and the adoption of artificial intelligence (AI). According to industry reports, the country’s total data centre capacity is projected to have reached approximately 1,600 MW by end of 2024, with growth expected to continue in 2025.
This surge in demand has attracted data centre operators, real estate developers, and financial sponsors, who now view the sector as a lucrative opportunity. Regulatory initiatives and government support further bolster this growth, with policies like the draft Data Centre Policy and the IndiaAI Mission aiming to create a conducive investment environment. Given India’s focus on technology, we can expect some announcements in the Union Budget 2025 to bolster this progression.
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OpenAI chief Sam Altman plans India visit next week: Sources
Microsoft-backed OpenAI’s chief Sam Altman is planning to visit India next week, three sources with direct knowledge of the matter said, in what could be his first visit in two years at a time when the company faces legal challenges in the country.
The sources said Altman has scheduled his trip to New Delhi for February 5. One of the sources said a meeting with government officials was also on the cards.But the schedule is not finalised and his plans could still change, the people said.OpenAI, the Ministry of Electronics and Information Technology (MeitY) and Prime Minister Narendra Modi’s office did not respond to requests for comment.
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6 key differences between active and passive mutual funds
One of the key decisions investors face when selecting a mutual fund is choosing the investment strategy that best aligns with their goals. They often question whether to opt for active funds or passive mutual funds because this decision can significantly impact their investment experience, including potential returns, risk levels, and overall cost.
Although both active and passive mutual funds have become popular investing choices, their management and investment approaches vary.
Here are the key differences:
What are active and passive mutual funds?
Active mutual funds are managed by fund managers who make decisions about which stocks or bonds to buy, sell, or hold, while passive funds simply follow a specific market index, like the S&P 500.
Simplified tax framework: Key to India’s growth journey
The Indian income tax policy has been a cornerstone of the nation’s economic framework, shaping growth and development across industries. However, over the years, its complexity has raised significant concerns among taxpayers, businesses, and global investors.
CNBC TV18’s latest episode of Deloitte Spotlights delves into key insights from a recent survey conducted by Deloitte, capturing opinions from industry professionals about existing tax policies and expectations for reforms.Let us explore the current challenges, ongoing initiatives, and potential measures to simplify India's income tax framework and bolster economic growth.
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IPO-bound Zepto completes reverse flip to become Indian parent entity
Quick commerce unicorn Zepto has completed its reverse flip from Singapore to India, a move that positions the company for its planned initial public offering (IPO). This development received formal approvals from Singaporean courts and India’s National Company Law Tribunal (NCLT), as announced by the company’s leadership.
“This is a historic milestone for the Indian startup ecosystem and an inflexion point that represents long-term confidence in the liquidity and depth of Indian capital markets,” said Aadit Palicha, Zepto’s co-founder and CEO, in a LinkedIn post.The NCLT had earlier approved Zepto’s plan to re-domicile to India through an order dated January 9, which allowed Kiranakart Technologies Private Limited, the Indian entity operating Zepto, to become the holding company. Previously, Zepto functioned as a subsidiary of Singapore-based KiranaKart Pte Ltd.
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