Top 10 biz headlines: Reliance Group blames NBFCs, NSSO survey, and more

Sale of pledged shares by L&T Finance, Edelweiss illegal: Reliance Group

Anil Ambani-promoted Reliance Group alleged on Friday that misconduct by certain non-banking financial companies (NBFCs), particularly L&T Finance and Edelweiss, had led to the recent slump in shares of some of its companies, and termed their action “illegal, motivated, and wholly unjustified”. Read on

Share of regular, salaried workers in employment increases in 2017-18: NSSO

The share of regular salaried workers in employment was on the rise in 2017-18, the National Sample Survey Office’s (NSSO’s) latest jobs survey shows. The rise in the proportion of regular salaried workers was more in rural areas than in urban parts. Read on
 

Consumer, retail lenders make 93% of FY19 market capitalisation gains

Consumption-oriented stocks are leading the charge on Dalal Street, with the government shifting its focus back to consumer demand to spur economic growth. In the last one year, stocks from the consumer and retail lending space have accounted for 93 per cent of all the market capitalisation gains for the listed companies. Read on

Dorabji Tata Trust challenges I-T dept's decision to withdraw exemption

The Dorabji Tata Trust has challenged the income-tax department’s decision to withdraw tax exemption to the organisation. The trust has moved the Commissioner of Income Tax (CIT) Appeals, considered to be the first appellate authority to hear a tax grievance. Read on
 

Govt panel favours lowering of GST rates on under-construction houses

The struggles of India’s beleaguered real estate sector might end soon. A group of ministers on Friday batted for a cut in the goods and services tax (GST) rates on under-construction houses. Read on:

Tata Steel Q3 consolidated net profit rises over 54% to Rs 1,753 crore

Tata Steel on Friday reported a 54.33 per cent jump in consolidated net profit to Rs 1,753.07 crore during the quarter ended on December 31, 2019, helped by higher income. Read on:

SBI cuts interest rate by 5 bps on home loans up to Rs 30 lakh

Within a day of RBI reducing repo rate by 25 basis points, the country's largest lender State Bank of India Friday announced a cut in interest rates by 5 basis points on its home loans up to Rs 30 lakh. Read on:

India to regulate medical implants to ensure their safety

The government on Friday decided to regulate the sale, manufacture and import of medical implants, a move that will ensure safe and tested medical devices reach the end user, according to Livemint report.

Chennai's 'accidental investor' who became D-Street's top multibagger hunter

Rajiv Khanna, the brain behind Dolly Khanna's multibagger portfolio, is one of the most successful stock investors on Dalal Street. This Chennai-based investor has a knack for identifying quality stocks at the right time and pocket stellar returns. Khanna, along with his wife, has generated an enormous amount of wealth from the stock market, according to The Economic Times report.

Income tax department holding back refunds amounting to thousands of crores

The Income Tax (I-T) Department is holding back tax refunds of many private and public sector enterprises, likely equaling to 5-10 percent of total tax collection in 2017-18, sources in the department told Moneycontrol. The delay in some cases extends up to four years.