Business

The Jio Platforms investment is the largest in an Indian firm by Mubadala, which is the second-biggest state investor in Abu Dhabi after Abu Dhabi Investment Authority (ADIA), managing about $240 billion in assets.

The CBIC said late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the government.

the city's finance secretary said that capital will continue to flow freely in and out of Hong Kong.

If goods and services tax (GST) rates are increased on non-essential items, sources said it will further bring down their demand and impede the overall economic recovery.

Spot gold was down 0.2 per cent to $1,707.85 per ounce by 0742 GMT, after hitting its lowest level since May 13 at $1,703 earlier in the session. US gold futures were down 0.5 per cent to $1,697.60.

Chidambaram had earlier said the fiscal stimulus package announced by the government is "hopelessly inadequate" given the gravity of the economic crisis.

After falling over 450 points during the day, the 30-share index ended 260.31 points or 0.84 per cent lower at 30,672.59.

Reliance Industries announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.

InterGlobe Aviation shares zoomed 9.88 per cent to Rs 1,002 on the BSE. SpiceJet also jumped 4.88 per cent to Rs 42.95 -- its upper circuit limit.

The finance minister, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.

Kotak Mahindra Bank, through its debt capital markets team, will work closely with the Franklin Templeton Trustees, to assist with all portfolio actions in these six schemes that are being wound up.

The eight states, which include Maharashtra, Gujarat and Tamil Nadu, among others also account for 58 per cent of the employment, domestic rating agency Crisil's research wing said in the report.

The company had posted a profit of Rs 107.2 crore in the same period a year ago.

It said the GDP will contract by a mind-boggling 45 per cent in the June quarter as compared to the January-March period on an annualised basis, because of the continuing lockdown.

Finance Minister Niramala Sitharaman has made a slew of big announcements to help farmers, fishermen and those involved in the field of animal husbandry.

Minimum threshold to initiative insolvency proceeding has been raised to Rs 1 crore from Rs 1 lakh to benefit MSMEs, Sitharaman said, adding that an Ordinance will be promulgated to bring this change in IBC.