Toyota Kirloskar Motor vice chairperson Vikram Kirloskar passes away
Toyota Kirloskar Motor Vice Chairperson Vikram S Kirloskar has died, the company said Tuesday. He was 64. “We extend our deepest sympathies to his family and friends. Last respect can be paid at Hebbal Crematorium, Bengaluru, on 30th November 2022 at 1pm”, the company tweeted late on Tuesday.
Kiran Mazumdar-Shaw, the Executive Chairperson of Bengaluru-headquartered biopharmaceuticals company Biocon, said, “Devastated with Vikram’s shocking demise. He was such a dear friend who I will hugely miss. I share the pain and unconsolable grief of Geetanjali, Manasi n the family.”
Bilkis Bano moves Supreme Court challenging release of 11 convicts in gangrape-murder case
Bilkis Bano on Wednesday moved the Supreme Court challenging the premature release of 11 people found guilty of gang-raping her and murdering her family members during the Godhra riots in Gujarat in 2002. The convicts were released by the Gujarat government as part of its remission policy on August 15 this year.
In a writ petition filed before the apex court, Bilkis Bano has challenged the premature release of the 11 convicts sentenced to life in case of rape and murder. According to Live Law, she has also sought a review of the Supreme Court’s judgment allowing the Gujarat government to make a decision on the remission of the convicts.
Uniparts India IPO opens for public subscription, GMP rises; should you apply for the issue?
Uniparts India IPO opened for subscription on Wednesday and concludes on Friday, 2 December. The price band for the IPO has been fixed at Rs 548-577 per share. Ahead of the IPO, the company raised Rs 251 crore from anchor investors. The IPO is entirely an Offer for Sale (OFS) of 14,481,942 equity shares by promoter group entities and existing investors. Since it is entirely an OFS, the company will not receive any proceeds from the public issue. At the upper end of the price band, the public issue is expected to fetch Rs 836 crore. Uniparts India shares were commanding a grey market premium (GMP) of Rs 65-71 today. The shares of the company are expected to list on the stock exchanges BSE and NSE on Monday, 12 December 2022.
Radhika Roy, Prannoy Roy resign as directors with Adani Group’s takeover of NDTV
NDTV founders Radhika Roy and Prannoy Roy (RRPR) have resigned as the directors of promoter group vehicle RRPR Holding Private Limited, as Adani Group neared the takeover of the television channel. The Roys still hold a 32.26 percent stake in NDTV as promoters and have not resigned from the board of the news channel. In the establishment, Prannoy Roy is the chairperson of NDTV and Radhika Roy is the executive director.
According to a stock exchange filing, New Delhi Television Ltd said the two have resigned as directors on the board of RRPR Holding Private Limited (RRPRH) with immediate effect.
Tata Nexon SUV price hiked by up to Rs 18,000: Retails from Rs 7.70 lakh
Tata Motors has once again increased the prices of the Nexon sub-compact SUV. This is the third price hike for the Tata Nexon in the calendar year 2022 as its prices were already revised in January and July as well. This time around, the company has increased the prices of the SUV by up to Rs 18,000.?
Rising Fixed Deposit interest rate: This is where FD accounts are seeing a higher traction
Fixed Deposit interest rates offered by scheduled banks have been growing in the last few months. Small Finance Banks (SFBs) are even offering Fixed Deposit interest rates of?up to 9%?for senior citizens. Rising FD rates have led to an increase in investors’ interest.
According to a report, more interest in FDs has come from Western India while the traction in the South is weak. Also, the growth of FDs in rural and semi-urban areas is less compared to metropolitan and urban areas.
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Can wastage of Gold during jewellery creation be treated as making charges and TDS imposed? ITAT decides
The wastage of gold during the creation of ornaments cannot be treated as making charges and the provisions of Section 194C would not be applicable to the assessee for non-deduction of TDS on the amount of such wastage, according to an order of the Income Tax Appellate Tribunal (ITAT), Chennai.
In an interesting order dated August 24, 2022, the ITAT dismissed an order of the Assessing Officer (AO), which had held that TDS under Section 194C would be applicable to the amount of gold treated by a jeweller as wastage and kept by the goldsmith as making charges. Here’s a look at this case and what the ITAT said.
IRDAI 11-point reforms aim to achieve the mission of ‘Insurance for all by 2047’
With a mission of “Insurance for all by 2047” and the aim of increasing the insurance penetration in the country, the reforms recently announced by the Insurance Regulatory and Development Authority of India (IRDAI) would help in bolstering the ease of doing business and will aid in making the sector more investment-friendly.
Moreover, the relaxation of solvency norms for general and life insurers would also free up some significant capital for insurance. This will not only help the entire insurance ecosystem to grow rapidly, but also eventually give headway to insurers to invest in the right strategies.
Mercedes-Benz GLB: All you need to know about this 7-seater luxury SUV
Mercedes-Benz currently offers the country’s largest SUV lineup in India. In response to the growing demand for 3-row SUVs, the company has launched the GLB and its electric equivalent, the EQB in India.?
Mercedes-Benz GLB is said to be ‘Baby GLS’ by the carmaker as it takes its design inspiration from the flagship SUV. The GLB is available in 3 variants- GLB 200, GLB 220d (Progressive line) and GLB 220d 4Matic (AMG Line), offered in 5 attractive paint schemes- Polar White, Cosmos Black, Denim Blue, Mountain Grey and Manufaktur Patagonia red.
Ferrari revealed its VGT concept future road car design
Ferrari has revealed its Vision GT concept car exclusively?for the Gran Turismo 7 racing game. The single-seat racing concept car will only be featured in the virtual gaming world. As indicated by Ferrari, the VGT concept additionally sees what its cutting edge road cars could seem to be.
Finely designed by senior designer Flavio Manzoni and team at Ferrari Centro Stile in Maranello. The car takes inspiration from the iconic racing cars of the 1960s and 1970s such as the 330 P3 and 512 S.
There is no real version?announcement of the Ferrari VGT has been reported yet, while a full-scale physical study will be on display at the Italian carmaker’s exhibition hall in Maranello from December 15.
Sensex, Nifty close at record highs, target of 19000 seen despite fear of pullback; Fed chair’s speech eyed
After hitting fresh record highs intraday, domestic indices NSE Nifty and BSE Sensex closed at record highs. Nifty topped the 18,800 level before ending the session lower by over 50 points at 18,758.35. The BSE Sensex surged over 500 points in trade to surpass the 63,300 level, hitting a record high for the fifth session in a row at 63,303.01, before closing at 63,099.65. The broader markets also closed in the green, as Nifty Smallcap 100 was up 0.6% and Nifty Midcap 100 ended 1% higher. All sectoral indices ended positively, barring Nifty PSU Bank which was down 1.23%. “Domestic market continued its quest for gains, boosted by FII inflows. However, markets will be sensitive to the Fed Chair’s remarks later in the day, as investors are expecting a moderation in the pace of rate hikes. An in-line comment will help to sustain the rally while loosening COVID-19 restrictions in China is providing relief to global markets,” said Vinod Nair, Head of Research, Geojit Financial Services.
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