New Delhi, Jan 5 (PTI) Following are the top business stories at 1925 hours: DEL90 BIZ-LD XIAOMI-EVASION India slaps Rs 653 cr import duty evasion notice on Xiaomi New Delhi: Chinese phone maker Xiaomi’s India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement.
DCM50 BIZ-2NDLD NCLAT-VIDEOCON NCLAT junks Anil Agarwal-led firm’s takeover of Videocon, calls for fresh bids New Delhi: A bankruptcy appeals court has scrapped billionaire Anil Agarwal-led Twin Star Technologies’ winning bid to take over Videocon Industries Ltd on a plea by some creditors that the money offered imposed a steep Rs 62,000 crore haircut upon banks.
DCM24 BIZ-CAIRN-RETRO TAX Cairn withdraws all lawsuits against India, to get Rs 7,900 cr tax refund New Delhi: Britain’s Cairn Energy has dropped all lawsuits against the Indian government and its entities in courts from the US to France and to Singapore, to now be entitled for about Rs 7,900 crore refund of taxes that were collected to enforce a retrospective tax demand.
DEL77 BIZ-LD RUPEE Rupee jumps 20 paise to 74.38 against US dollar Mumbai: The rupee surged 20 paise to close at 74.38 against the US currency on Wednesday, propped up by foreign banks’ dollar sales and fund inflows into domestic equities.
DEL63 BIZ-LD STOCKS Sensex rallies for fourth day to reclaim 60,000-mark; bank, finance stocks spurt Mumbai: Equity benchmark Sensex stretched its winning run to the fourth straight session on Wednesday to reclaim the 60,000-level as robust gains in banking and financial stocks offset profit-booking in the IT pack.
DEL57 BIZ-GOLD-PRICE Gold jumps Rs 154, silver rallies Rs 352 New Delhi: Gold in the national capital on Wednesday jumped Rs 154 to Rs 46,969 per 10 grams amid a rally in international precious metal prices, according to HDFC Securities.
DEL14 BIZ-PMI-SERVICES India’s services sector activity hits 3-month low in Dec: Survey New Delhi: India’s services sector activity moderated in December as business activity and sales rose at a softer pace, while price pressures and the possibility of new waves of COVID-19 affected business sentiment, a monthly survey said on Wednesday.
DCM55 BIZ-COAL-PRODUCTION India’s coal production stands at 74.8 MT for Dec; 6.7 pc jump against 2 years ago New Delhi: The country’s total coal production rose 6.74 per cent to 74.78 million tonnes (MT) in December as compared to the same period in 2019, the government on Wednesday said.
DCM11 BIZ-STATES-DEBT States paying through the nose for debt as cost soars past 7.16% Mumbai: The cost of debt-funds for the states has touched the highest level so far this fiscal with the weighted average cut-off crossing the 7.16 percentage points at the latest auctions, up 11 bps over the past week, reflecting the hardening yields even for the government securities.
DCM2 BIZ-AUTO SALES-FADA Passenger vehicle retail sales dip 11 pc in Dec amid semiconductor woes New Delhi: Passenger vehicle retail sales in India witnessed an 11 per cent year-on-year decline in December as semiconductor shortage continued to impact the segment, automobile dealers’ body FADA said on Wednesday. PTI RUJ RUJ