MG Motor India reports 4% fall in vehicle sales at 4,114 units in January

The company had retailed 4,306 vehicles in January 2022, MG Motor India said in a statement.

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Budget 2023 likely to focus on middle class, income-tax relief expected

The Union Budget 2023 may introduce a new I-T slab at Rs 8-10 lakh with a rate of 10-15 percent, a CNBC TV-18 report has said

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Infosys admits appeal against UK tax assessment: Report

Reports here are flagging that the firm co-founded by British Prime Minister Rishi Sunak#39;s father-in-law, Narayana Murthy, was contesting a GBP 20 million tax bill with His Majesty#39;s Revenue and Customs (HMRC) department.

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Insolvency Code: Latest restructuring will strengthen it, but grey areas may remain

Poor drafting of the Code meant that certain rulings did not match the intention of lawmakers. The changes propose to deal with this and also improve the code’s effectiveness

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Vedanta is said to scrap plans to sell mega Indian copper smelter

After scrapping the seven-month-old process to offload the 400,000 tons-a-year Sterlite Copper plant, the company will now work with the local population to restart the factory that was shut on environmental concerns, the people said, asking not to be named as the information is not public.

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Adani dollar bonds rally from record lows after UAE royal boost

A note from one of the group’s key units, Adani Ports Special Economic Zone Ltd., rose 3.4 cents on the dollar to 68.8 cents as of 9:47 a.m. in Hong Kong. That pares its drop since US-based short seller Hindenburg Research last week alleged “accounting fraud” at Adani group to about 10 cents.

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Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers

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Adani firms lose $65 billion in value as US short-seller battle escalates

Led by Asia#39;s richest man Gautam Adani, the Indian group has locked horns with Hindenburg Research and on Sunday hit back at the short-seller#39;s report of last week that flagged concerns about its debt levels and the use of tax havens.

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Coworking firm Smartworks forays into Ahmedabad; takes on lease 56,000 sq ft office space

The company in a statement said it has forayed into Ahemdabad market and has taken over 56,000 square feet of office space on lease at Nehru Nagar in Ahmedabad.

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Hindenburg on Adani#39;s 413-page rebuttal: Cannot obfuscate by nationalism

The Adani Group has not even attempted to clarify its relationship with a Chinese National (Chang Chung-Ling), despite a plethora of linkages, Hindenburg Research has said

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Top Cryptocurrency Prices Today January 30: Bitcoin up 3%, cryptos in green

The price of Bitcoin, the world#39;s largest cryptocurrency, hovered around Rs 20 lakh early on January 30

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Fuel prices on January 30: Check petrol, diesel rates in Delhi, Mumbai and other cities

Petrol and diesel are priced at Rs 102.63 per litre and Rs 94.24 per litre respectively in Chennai, and at Rs 106.03 a litre and Rs 92.76 a litre in Kolkata, respectively.

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Budget 2023 Expectations Highlights: Experts say mental health insurance, affordable healthcare should be considered by FM Sitharaman

Budget 2023 Expectations Highlights: We must focus on reconstruction rehabilitation. Many youths are unemployed, we must create self-employment opportunities, revive closed units and give them technological help and slight handholding, says Navin M Raheja, chairman MD, Raheja Developers on 2023 Budget expectations.

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Budget 2023 Expectations LIVE Updates: What are the trading opportunities around Union Budget Day?

Budget 2023 Expectations LIVE Updates: In an interview with Moneycontrol, veteran trader Manu Bhatia shares how he strategises for Budget Day. Markets will not give a very big move a day before the budget because of the uncertainty (of what will unfold). Generally, we will not get a directional move on the previous day and there are no real trading opportunities from an options perspective, he says.

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Budget 2023 Expectations LIVE Updates: The country has the potential to target $100 billion in FDI by 2023: USISPF CEO

Budget 2023 Expectations LIVE Updates: Mukesh Aghi, President CEO of USISPF, believes that India has a significant opportunity to attract foreign investment in the coming years. He notes that the country has the potential to target $100 billion in FDI by 2023 but emphasises the importance of a budget that is "micro-focused" on capex and infrastructure spending in order to achieve this goal.

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Budget 2023 Expectations LIVE Updates: "We shall overcome", said Manmohan Singh while talking about India#39;s economic potential in 1991

Budget 2023 Expectations LIVE Updates: Victor Hugo once said, “no power on earth can stop an idea whose time has come.” I suggest to this august House that the emergence of India as a major economic power in the world happens to be one such idea," Singh spoke. "Let the whole world hear it loud and clear. India is now wide awake. We shall prevail. We shall overcome," he said, while speaking about the country#39;s economic potential in 1991.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/budget-2023-expectations-live-updates-"we-shall-overcome"-said-manmohan-singh-while-talking-about-india39s-economic-potential1991_16829671.html

Budget 2023 Expectations LIVE Updates: Five sectors may get most weightage in Budget, says Chairman of Anand Rathi Group

Budget 2023 Expectations LIVE Updates: Anand Rathi expects the federal budget to emphasise the ecosystem of alternative energy (including hybrid/electric vehicles, batteries, and green energy), high-tech industries (including microchips), infrastructure (including roads, railways, and water), digital technology, and the hospitality industry

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Pre-Budget 2023 LIVE Updates: Five sectors may get most weightage in Budget, says Chairman of Anand Rathi Group

Pre-Budget 2023 LIVE Updates: Anand Rathi expects the federal budget to emphasise the ecosystem of alternative energy (including hybrid/electric vehicles, batteries, and green energy), high-tech industries (including microchips), infrastructure (including roads, railways, and water), digital technology, and the hospitality industry

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Pre-Budget 2023 LIVE Updates: Time to simplify personal income taxation system, end exemptions, says Arvind Panagariya

Pre-Budget 2023 LIVE Updates: In an exclusive interview with Moneycontrol, Vice Chairman of Niti Aayog Arvind Panagariya expressed that it is time for the Finance Ministry to simplify the personal income taxation system and end exemptions.

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Budget 2023 Expectations LIVE: US venture capitalists hope India#39;s Budget supports growth, strengthens startup ecosystem

Budget 2023 Expectations LIVE Updates: Ahead of the scheduled Budget, venture capitalist community in the US is very excited given the large number of unicorns emerging out of India in recent years and are expecting the Union Budget 2023 to support the growth and development of the startup ecosystem in the country.

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Air India has made #39;quite remarkable progress#39;: CEO; airline finalising historic aircraft order

Listing out the major initiatives over the last one year, Air India said it is "finalising a historic order of new aircraft to power future growth".

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US FDA exempts Glenmark#39;s Baddi plant due to drug shortage

The exception given to Glenmark#39;s Baddi plant will be reconsidered if the market conditions change, the letter to the bourses stated.

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Air India likely to seal half of jumbo plane order with Boeing today

After months of closely-guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 MAX narrowbody planes as well as some 20 Boeing 787s and 10 Boeing 777X on a day marking one year since Tata Group took control of the former state-run carrier, the sources told Reuters.

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South Africa signs deal with India to relocate dozens of cheetahs

A big cat species similar to the cheetah disappeared from India some 70 years ago.

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Air India#39;s progress has been #39;nothing short of stunning#39;: CEO Campbell Wilson

Listing out the major initiatives over the last one year, Air India said it is "finalising a historic order of new aircraft to power future growth".

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Stripe hires Goldman, JP Morgan to explore listing and private share sale

The move, communicated to Stripe employees in an internal memo earlier on Thursday, would give them an opportunity to sell shares in the company either to private investors or in a public market, the sources said.

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Adani lines up detailed response to ‘bogus’ short seller report

The Adani Group held the call with fixed-income investors after US short seller Hindenburg Research leveled a series of extraordinary allegations about the sprawling conglomerate.

from Moneycontrol Business News https://www.moneycontrol.com/news/business/adani-linesdetailed-response-to-‘bogus’-short-seller-report_16827621.html

Alliance launched to increase number of women in STEM education, workforce in India

The launch of the US-India Alliance for Women#39;s Economic Empowerment STEM Collaborative was announced by Mukesh Aghi, president and CEO of the US-India Strategic and Partnership Forum during the US-India Alliance Shatter Summit.

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Macleods Pharma recalls 10,000 bottles of anti-bacterial medication in US

As per the latest enforcement report by the US Food and Drug Administration (USFDA), Macleods Pharma Inc, a US-based unit of the company, is recalling 10,052 bottles of Levofloxacin tablets, which are used to treat different types of bacterial infections.

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Adani Group says it#39;s exploring legal action against Hindenburg

Bonds and shares of Adani-related entities slumped after Hindenburg, an investment research firm that specializes in short-selling, made wide-ranging allegations of purported corporate malpractice following what it said was a two-year investigation into Adani’s companies.

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Adani Group says its exploring legal action against Hindenburg

Bonds and shares of Adani-related entities slumped after Hindenburg, an investment research firm that specializes in short-selling, made wide-ranging allegations of purported corporate malpractice following what it said was a two-year investigation into Adani’s companies.

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Bain Capital affiliate sells stake in maritime logistics company JM Baxi to Hapag-Lloyd

Global private equity firm Bain Capital#39;s affiliate has sold its stake in maritime logistics company JM Baxi, the details of the transaction have not been revealed yet.

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Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers

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Explainer: Who is behind Hindenburg, the company that is shorting Adani?

Hindenburg has a track-record of finding corporate wrongdoings and placing bets against the companies.

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Adani Group responds to Hindenburg report, calls it #39;malicious#39;

Hindenburg said its report was based on an investigation over two years that involved speaking with dozens of individuals, including former Adani Group executives as well as a review of documents.

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Easy Trip Planners Ltd to acquire 55% stake in Glegoo Innovations

The company signed a share purchase agreement with Glegoo Innovations Pvt Ltd on January 24, 2023, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing.

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Hindenburg says holds short positions in India#39;s Adani, flags risks

The seven listed companies of the Adani group, which is controlled by world#39;s third richest man Gautam Adani, have an 85% downside on a fundamental basis due to sky-high valuations, Hindenburg said in the report.

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Why this old private sector bank can re-rate further

With a granular deposit base and robust growth in advances, Karur Vysya Bank’s earnings trajectory is set to gain further traction

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BPCL to set up 1 GW renewable energy plant in this state

In a statement, BPCL said it has signed a memorandum of understanding (MoU) with the government of Rajasthan for setting up the renewable energy power plant. It, however, neither gave a timeframe nor investment that will be made in the project.

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Ahmedabad airport plans development, expansion projects

The facility, owned by Adani Group, currently has the terminal capacity of 8-million passengers annually, while it is expected to handle 20-million passengers per annum by 2025-26 thereby necessitating the expansion work, which include a new integrated terminal building and refurbishment of existing terminals, it said.

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SpiceJet announces sale on flight tickets ahead of Republic Day

SpiceJet is also offering additional discounts on bookings made through the airline#39;s website and mobile application.

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Axis Bank Q3 FY23 – Can it close the valuation gap with private peers?

Earnings growth trajectory likely to remain strong for Axis Bank, aided by improving macro and rapid market share gains

from Moneycontrol Business News https://www.moneycontrol.com/news/business/axis-bank-q3-fy23-–-can-it-closevaluation-gapprivate-peers_16820771.html

India bluechips set to shift to world’s fastest settlement cycle

Stocks from Reliance to TCS and Adani Enterprises will be settled on a ‘trade-plus-one-day’ timeline versus the earlier two-day process. The shift will boost operational efficiency as rolling of funds and stocks will be faster

from Moneycontrol Business News https://www.moneycontrol.com/news/business/india-bluechips-set-to-shift-to-world’s-fastest-settlement-cycle_16820621.html

Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers

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Kotak Mahindra Bank Q3 FY23 – Why the below-par show should reverse

The growth trajectory of Kotak Mahindra Bank looks decent on the back of a comfortable capital position, right asset mix, strong margin, and market share gains

from Moneycontrol Business News https://www.moneycontrol.com/news/business/kotak-mahindra-bank-q3-fy23-–-whybelow-par-show-should-reverse_16818601.html

Why an emphatic #39;no#39; to Yes Bank?

The task of expanding the RoA for Yes Bank will be arduous because of subdued growth, modest margin, and sticky costs

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Fuel prices on January 23: Check petrol, diesel rates in Delhi, Mumbai and other cities

Petrol and diesel in Delhi cost Rs 96.72 per litre and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31/litre and diesel for Rs 94.27/litre.

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Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers

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FPIs pull out Rs 15,236 crore from equities in January as China reopens

The outflow in the month of January came following a net inflow of Rs 11,119 crore in December and Rs 36,239 crore in November.

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Coforge clocks highest intraday gain in 7 months on increased FY23 revenue guidance

Coforge has signed the largest number of large deals in a quarter in its history. As a consequence, the order intake at $345 million has been the highest ever, said CEO Sudhir Singh

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