The Delhi police has filed an FIR against Pawan Munjal, the Executive Chairman of Hero MotoCorp, CNBC-TV 18 reported on October 9.The FIR was registered in relation to a matter before 2010 and has no relation with any ongoing investigation. With this FIR, the shares of Hero MotoCorp fell at 1:20 pm IST after the news broke out and were trading at Rs 2,946, down by 3.03%.
Courtesy: The Free Press Journal
The United States may see a deep recession soon, and such a scenario would impact not only India's services sector, which is a key component of the country's GDP but also bring about a lot of volatility in the bond and equity markets, a top economist has said. Neelkanth Mishra, Chief Economist for Axis Bank said the United States was expected to enter a recession.
Hyundai India Motors has finally launched the highly-anticipated i20 facelift in the country. The price starts at Rs 6.99 lakh (ex-showroom) and goes as high as Rs 11.01 lakh (ex-showroom). The premium hatchback receives a host of revisions both on exterior and interior. The feature list has also been updated. In terms of design, the 2023 i20 facelift features a revised parametric grille section, LED headlamps, LED DRLs.
The rupee gained 14 paise to 81.67 against the US dollar in early trade on July 25, tracking the weakness of the American currency in the overseas market. However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 81.74, then touched a high of 81.67 against the American currency.
Courtesy: Press Trust of India
The prices of tomatoes are expected to skyrocket in the coming weeks. Agriculture experts said, the prices of tomatoes will touch Rs 300/kg in several Indian states, amid weather conditions. Although the Central Government announced relief measures for the layman and announced the food units to procure tomatoes, there seems no relief for consumers."It will be a minimum of 2 months before we see prices stabilise," said experts.
The much awaited Exter by Hyundai has finally launched in India, on July 10. The price starts at Rs 5.99 Lakhs (ex-showroom) and goes upto Rs 9.32 lakhs (ex-showroom) for the the top-end trim. This highly anticipated SUV has already garnered significant attention and is poised to become a game-changer in its segment. Hyundai has invested 950 crore for the production of Exter and available with Rs 11,000 token amount.
The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred in foreign currency for the purpose of TCS levy, sources said. The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism, to distinguish tax collection %, based on purpose of expense.
Courtesy: The Press Trust of India
The Enforcement Directorate (ED) issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, Notably, Xiaomi's chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks were alleged for violations of the foreign exchange law to the tune of more than Rs 5,551 crores. The Adjudicating Authority (of the Foreign Exchange Management Act) has issued the notices… read-more
Courtesy: The Press Trust of India
Maruti Suzuki is all set to launch its new, Jimny model, as it is conducting trials of the new vehicle. The Jimmy is expected to launch in India on June 7, and the off-roader will take on the likes of the Mahindra Thar and Force Gurha. This new model has four parking sensors and reverse cameras. The Jimny uses a ladder-frame chassis with a 1.5L engine.
Courtesy: Zee News India
World's largest automobile company, owned by Elon Musk Tesla is making plans to hold a crucial meeting in India. As per sources, the company is scheduled to meet Indian government officials in Delhi and discuss to source materials for electric vehicles in India. Usually, the components for the electric vehicles of Tesla are taken from China, however, the plans look different this time. However, no official announcement has been made.
Courtesy: Hindustan Times Auto