Business

10

Sep

By The Press Editor

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Business

Smallcap stock hits upper circuit post MoU with Singapore-based company – Check details

According to BSE Analytics, the stock has gained 423 per cent in three years and 149.80 per cent in two years. On the other hand, it has corrected 6.68 per cent in one year. New Delhi: Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) gained around 10 per cent on Wednesday after the company informed exchanges that it has entered into an MOU (Memorandum of Understanding) with Top2 PTE Limited, a Singapore-based entity, to explore, identify, and finalise a semiconductor partner from Taiwan. The stock started the trading session in red at Rs 70.90 against the previous close of Rs 20.93…

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10

Sep

By The Press Editor

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Business

This software firm to acquire AI-driven defence solutions company, shares end in green – Details

The stock's 14-day relative strength index (RSI) is 48.32. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued. Mumbai: Shares of a small-cap company, Blue Cloud Softech Solutions, ended the trading session in green as the company has shared updated information regarding the acquisition of an AI-driven defence solutions company. The company said that it has executed a Letter of Intent (LOI) for the proposed acquisition of 3P Vision, a defence technology firm specialising in advanced AI, drone, and surveillance solutions. The company said that the goal of…

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10

Sep

By The Press Editor

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Business

Punjab floods: Reliance Foundation launches 10-point care and support plan for state

Reliance teams are working round-the-clock in close coordination with the district administrations, the animal husbandry department, and local panchayats to deliver immediate, life-saving support while planning medium-term recovery actions. Chandigarh: In view of the devastating floods in Punjab, Reliance Industries Limited (RIL) has launched a large-scale humanitarian response in the state. Working closely with the state administration, panchayats and local stakeholders, Reliance Foundation teams are on the ground, delivering immediate relief in the worst-affected villages, particularly in Amritsar and Sultanpur Lodhi. Anant Ambani's message for Punjab Reliance Industries Limited director Anant Ambani said, “Our heart goes out to the people of…

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10

Sep

By The Press Editor

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Business

Larry Ellison beats Elon Musk to become world’s richest person with a net worth of USD 101 billion

Larry Ellison beat Elon Musk to become the world's richest person after a surge in Oracle's stock. San Francisco: Larry Ellison has become the world’s richest person for the first time, ending Elon Musk’s nearly year-long reign at the top. Ellison's fortune soared by USD 101 billion as of 10:10 am in New York after Oracle Corp. reported quarterly results that exceeded expectations and projected further growth. His net worth climbed to $393 billion, moving ahead of Musk, who now sits at $385 billion, according to the Bloomberg Billionaires Index. The jump is the largest one-day increase ever recorded by…

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10

Sep

By The Press Editor

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Business

ITR filing FY 2024-25 deadline approaching: Will CBDT extend the due date? All you need to know

ITR Filing Deadline: Several trade bodies, as well as professional bodies, have requested the Central Board of Direct Taxes (CBDT) to extend the deadline further. New Delhi: In good news for those taxpayers who have still not paid their income tax, the Income Tax Department has extended the last date for filing Income Tax Returns (ITR) to September 15 for the financial year 2024-25, i.e. assessment year 2025-26. The deadline will only be applicable to taxpayers whose accounts are not liable for audit.  With only a week left, the Income Tax portal suggests that income tax filings are not meeting…

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10

Sep

By The Press Editor

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Business

US HIRE Bill: What is it and how will it impact India’s $250 billion IT sector?

US HIRE Bill: Since India has long been a hub for IT outsourcing and related services, the bill has raised concerns in the Indian IT industry, which is heavily dependent on US clients for revenue. New Delhi: The US has introduced a new legislation, which is expected to have a significant impact on the USD 250 billion Indian IT industry. The Halting International Relocation of Employment (HIRE) Bill was introduced in the US Senate earlier this month by Ohio Republican Senator Bernie Moreno. The proposed law imposes heavy fines on companies in the United States that outsource jobs abroad. The…

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10

Sep

By The Press Editor

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Business

Dividend Stock: PSU IRCON International in focus as shares trade ex-date – Check details

Dividend Stock: According to BSE Analytics, the stock has given a multibagger return of 318 per cent in five years and 313 per cent in three years. Mumbai: Shares of state-run infrastructure construction company IRCON International Ltd are in focus as the stock trades ex-date for a final dividend of Re 1 per equity share with a face value of Rs 2 each. According to the information available with the exchanges, the company has fixed September 11 as the ex-date and record date. A record date is essential as it helps the company to determine the eligibility of shareholders for…

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10

Sep

By The Press Editor

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Business

Nepal tops South Asia as the country most reliant on remittances – Here’s why it matters

Nepal’s overreliance on remittances doesn’t indicate a good state of economy since the money sent by migrant workers is indicative of survival, not growth. Kathmandu: Nepal is witnessing one of the most intense protests in its history, with youngsters forcing the government’s exit over a ban on social media applications in the country. Along with other major issues that sparked the latest protests, Kathmandu’s weak economic indicators have played a significant role in facilitating the ouster of Prime Minister KP Sharma Oli’s government in the Himalayan nation.  Importantly, Nepal’s economy is significantly dependent on remittance inflows, as they form almost…

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10

Sep

By The Press Editor

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Business

Diwali Gift! 82 km Namo Bharat RRTS corridor, Pink Line extension expected to open on this date

The current extension in the metro network will ensure the completion of a full circle of the Pink Line, making it one of the longest corridors in the network of the Delhi Metro Rail Corporation. New Delhi: The infrastructure of Delhi-NCR is set to receive a significant boost as two projects are scheduled to be inaugurated on the occasion of Prime Minister Narendra Modi’s birthday on September 17. The projects likely to be unveiled include the 12.3 km Majlis Park-Maujpur metro corridor (Pink Line extension) and the 82 km Namo Bharat RRTS corridor (Delhi-Ghaziabad-Meerut).  Pink Line To Be One Of…

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10

Sep

By The Press Editor

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Business

IT stock surges nearly 9% post MoU with Hungary-based E-Group for building sovereign AI ecosystem – Details

The stock's 14-day relative strength index (RSI) is 47.58. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued. Mumbai: Shares of IT company Kellton Tech Solutions surged nearly 9 per cent during today's trading session, as the company informed exchanges about a Memorandum of Understanding (MoU) with Hungary's E-Group ICT Software Zrt to work on an AI project within the EU–India Framework Agreement.  As part of this MoU, Kellton will create capacity for AI services with the creation of an 'AI Gigafactory' where the organisation will lend expertise…

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