Finance Minister Nirmala Sitharaman has urged the CBDT to take action to reduce the high number of pending tax appeals and emphasized the need for a balanced approach when dealing with taxpayers. Despite progress in simplifying processes, there are still 5.4 lakh appeals pending.
The poultry industry is facing a 15% increase in feed prices, driven by lower soybean meal output and higher demand for maize from ethanol manufacturers. This has resulted in higher prices for eggs and chicken nationwide, with feed costs making up 65% of production costs. The sector is also facing supply challenges for soybean meal and maize, exacerbated by a heat wave and delayed monsoon.
The Tata Sierra EV is a strong competitor in the electric SUV market, boasting impressive performance and range. Its spacious and luxurious interior, equipped with advanced technology, makes it ideal for family road trips. However, the weight may affect the ride quality and it lacks one-pedal driving. Despite these flaws, the Sierra EV is a powerful and technologically advanced vehicle.
Nissan introduces its new SUV 'Tekton' to compete with Hyundai Creta and Kia Seltos in the midsize SUV market. With a name meaning 'master builder' in Greek, the Tekton offers powerful engines, impressive ground clearance, and advanced technology. Despite its smaller engine size, it proves to be a well-rounded and capable SUV in real-world tests.
InterGlobe Aviation, the parent company of IndiGo, has made commitments to the CCI to resolve an ongoing probe, including setting up a crisis management system and offering refunds and fare protection to passengers. They have also proposed a grievance redressal system and not charging excessive fares during disruptions. Public comments have been invited before a decision is made.
The Centre is proposing a framework to introduce competition in electricity supply, allowing multiple suppliers to operate in the same area. This would give consumers the freedom to choose their power provider and avoid duplication of infrastructure. Incumbent companies would continue to own and maintain their networks, while new licensees would pay regulated charges.
Benchmark equity indices, Sensex and Nifty, had their steepest weekly decline in four months, down 2.68% amid rising crude oil prices, US tariff concerns, and a weak rupee. Investors' wealth eroded by Rs 5.23 lakh crore, with FPIs ending the week as net sellers. Private banks were the worst performers, while auto and FMCG sectors saw gains.
Non-government employees can receive tax exemption on leave encashment at retirement, with a limit of Rs 25 lakh. Earned leave up to 30 days per year of service is considered for exemption. F&O trading losses can be deducted from other income, except salary. Cash allowances, bonuses, and incentives from employers are fully taxable and subject to TDS.
Taxpayers must carefully review their income tax return intimation under Section 143(1) and pay any demanded amount within 30 days to avoid interest. If there are discrepancies, a rectification request must be filed. The I-T department compares the taxpayer's information with its records, making it important for taxpayers to identify the reason for discrepancies.
India reduces proposed tariffs on exports to US by 2.5% by banning goods produced with forced labor. This puts India ahead of China, Vietnam, Thailand, and Türkiye. 17 other countries have also implemented the ban, giving India an advantage in labor-intensive sectors. However, US investigations on excess capacity could result in additional tariffs.
The crude oil basket in India has risen to $103.33 a barrel, causing concern for state-owned oil companies. This surge, driven by disruptions in energy flows and tensions between the US and Iran, could impact the financial performance of these companies in the coming quarters. Analysts warn of potential further increases in global oil prices if the situation persists.
SBICAPS report cautions against using non-China-made electrolysers in green hydrogen projects, citing China's cost-efficient production dominance. It recommends investing in R&D and facilitating imports for Indian factories to reach the 5 million tonnes per annum target by 2030. Current and auctioned capacities fall short of the target, highlighting the need for urgent action.
Honda Motorcycle & Scooter India (HMSI) has unveiled a 10-product portfolio including ICE, electric, and flex-fuel models to expand its presence in India. The competition is intensifying with Hero MotoCorp, TVS Motor, and Bajaj Auto launching new products. Honda's new portfolio includes the QC3 electric scooter, ADV 160 flex-fuel adventure scooter, and CB500 roadster.
India's private sector activity grew at the slowest pace in over 4 years due to reignited hostilities in West Asia and inflationary pressures. The HSBC Flash India Composite Purchasing Managers' Index fell to 54.3 in July, with weak sales and output in the services sector. New orders rose but at the slowest pace in 4.5 years.
India's first bullet train project has achieved a major milestone by installing the 2×25 kV Overhead Traction System, a technology used in Japan and France. This will ensure stable power supply for the trains to operate at high speeds of 320 kmph. The project also includes advanced safety features like earthquake detection and a network of substations.
Gujarat faces severe impact from continuous rainfall, leading to disruptions in daily life and halting industrial activity in Surat's textile hub. Waterlogging has caused factories to shut down and residents in posh areas of Ahmedabad to face flooded homes. The textile, automobile, and agricultural industries have suffered significant losses, with estimates of Rs 600 crore in damages.
Shriram Finance, a non-banking financial company, reported a 59.79% increase in profit for Q1FY27, with interest income also rising by 15.54% YoY. Revenue and profit also saw sequential growth. The company's net interest margin improved to 9.04%, while its assets under management grew by 15.26%. Asset quality remained stable, with provision coverage and capital adequacy ratios strengthening.
Hindustan Zinc's Q1FY27 earnings show a significant increase in revenue and profit, with a 76.9% year-on-year rise in revenue and a 145% increase in net profit. The company's operating performance also saw a growth of 108.6%. Despite this, the stock's performance has been mixed, with a 19% return over the past year but a decline of 13% in 2026.
Sonam Wangchuk, a climate activist, ended his 26-day hunger strike after receiving written assurances from the Centre regarding the NEET issue. His wife, Dr Gitanjali Angmo, stated that the note promised no legal action or undue force against student protesters, compensation for families of students who died by suicide, and a discussion in Parliament on educational reforms.
The Ministry of Defence has initiated a Rs 2,000-crore procurement for 10 MALE drones for the Indian Coast Guard. Adani Defence, Solar Industries, and Tata Advanced Systems are expected to bid for the contract, which will enhance surveillance capabilities and provide persistent intelligence with advanced sensors and SATCOM.
Jefferies believes Eternal has entered a new phase where profitability takes precedence over market share, with Blinkit's improving margins and food delivery strength demonstrating that growth and returns can coexist. The brokerage retained its 'Buy' rating, raised its target price to Rs 415 from Rs 400, and sees around 45% upside, citing disciplined execution.
Sonia Gandhi condemns the Modi government's education policies and lack of accountability in the face of student protests in Delhi. She calls for support and protection of students as they demand fairness and reform. Congress president Kharge demands resignations and education reform from the government.
Trump's plan to impose steep tariffs on imported generic drugs has caused worry for Indian pharmaceutical companies heavily reliant on US market. Aurobindo Pharma is most at risk, while Torrent Pharma has the least exposure. Sun Pharma's mix of generic and branded products makes it less vulnerable. However, Macquarie believes the proposal is unfeasible and could have negative consequences.
A seaplane crash near Sucia Island in Washington State leaves 11 survivors. All flights for July 24 cancelled as airline supports passengers, employees, and emergency response. Plane took off from Seattle and was headed for Roche Harbor before making an emergency landing and catching fire. FAA and NTSB investigating cause. Viral videos show plane descending before loud thud.
Maharashtra government introduces Bharat Taxi, a cooperative ride-hailing app. The app offers car, auto-rickshaw, and bike taxi services with Mumbai's black-and-yellow taxi fare structure. The government launched 600 taxis and plans to expand to other cities. The fare has been fixed at ₹31 for the first 1.5 km and ₹21 per kilometre after that, making it a more affordable option for commuters.
Patreon CEO Jack Conte announced the layoff of 93 employees, about 20% of the workforce, in a public blog post. Despite the changes, the platform's core business will remain intact. The membership platform supports creators. Conte explained the need for increased agility and adapting to market changes, highlighting the importance of human creativity and connection over AI.
Motilal Oswal downgraded JSW Energy to 'Neutral' and reduced its target price to Rs 550, citing a 17% rally in the stock price and a 9% cut to the FY28 EBITDA estimate. Despite this, the company remains positive on JSW Energy's strong earnings growth, capacity expansion plan, and execution capabilities. The company's Q1 FY27 earnings exceeded expectations.
The government has imposed penalties of ₹2,732 crore on contractors and concessionaires for delays in National Highway projects, with ₹780 crore already recovered. 1,187 projects are still under construction, excluding those facing termination. NH-39 in Madhya Pradesh faced repeated contractor failures and had to be re-awarded on the EPC model.
UDYAM portal data reveals a rise in MSME employment over the last three years, with Uttar Pradesh leading the pack, followed by Maharashtra and Tamil Nadu. Trading is the top employer in this sector, raising concerns about manufacturing-based job growth. However, some states have witnessed a decline in reported MSME employment.
Sensex and Nifty experienced a tough trading session on Friday morning, with both indices down by over 1%. This was due to negative global cues, high crude oil prices, and rising tension in West Asia. The decline also affected small and midcap shares, with Nifty Smallcap 100 falling 1.4% and Nifty Midcap 100 declining 1%.
Saadia Zahidi, a World Economic Forum veteran, has become the first female director general of IATA, succeeding Willie Walsh. Her experience will aid the industry in adapting to changes and prioritizing safety, efficiency, and sustainability. Zahidi takes charge during a difficult period for aviation, with supply chain issues, decarbonisation goals, and increasing passenger demand.
The Q1 FY27 earnings season highlighted a widening gap between India's two largest IT companies. TCS entered the year with stronger execution, a 24% operating margin, robust AI-led deal wins and continued shareholder payouts, while Infosys lowered its FY27 revenue growth guidance due to softer demand, pricing pressure and AI-driven productivity gains, despite maintaining its margin outlook.
Heavy rainfall has caused disruptions in train services connecting Mumbai, Surat, Valsad, Ahmedabad, and other parts of Gujarat. 15 trains have been fully cancelled, one special train has been rescheduled, and two other services have been partially cancelled or short-terminated.
Southern Railway has announced special express trains for the Velankanni Festival, offering an additional travel option for devotees. These trains will operate on select dates in August and September 2026, reducing rush on regular services and making travel more convenient. The trains will pass through important stations in Kerala and Tamil Nadu.
Godrej Capital, led by MD and CEO Manish Shah, plans to achieve a Rs 5,000-crore gold loan portfolio and Rs 1 lakh crore in assets under management by 2031. The company sees gold loans as a promising segment due to the rise in formal borrowing against gold. Its recent acquisition of Kanakadurga Finance's gold loan business adds Rs 280 crore.
17 Delhi Metro stations are temporarily closed due to security measures following a protest. The closures, in effect since 7:30 am, will continue until further orders. Commuters can use interchange facilities at Rajiv Chowk, Mandi House, and Central Secretariat. Train services are normal, but trains will not stop at closed stations.
Cockroach Janata Party leader Abhijeet Dipke expressed gratitude to Sonam Wangchuk for ending his 26-day hunger strike, but announced that nationwide protests will continue. The Centre replaced Higher Education Secretary Vineet Joshi with Naresh Gangwar amidst ongoing unrest.
Indian benchmark indices are likely to open weak on Friday due to geopolitical tensions and uncertainty in global markets. GIFT Nifty and Asian markets are trading lower. Investors will keep an eye on crude oil prices, gold and silver rates, FII activity, currency movements, and Q1FY27 earnings.
Waaree Renewable Technologies (WRTL), part of the Waaree Energies group, is targeting 11 GW of solar EPC orders in West Asia, while also pursuing 25-26 GW in India. They are also looking into battery energy storage systems, transmission and distribution, and data centres.
Sebi has introduced a new mutual fund-only portfolio management service for high-net-worth investors, with a minimum investment of Rs 25 lakh. This will allow portfolio managers to invest solely in mutual fund products, with simplified compliance and fee structures. Mutual fund distributors will also have to maintain a separate relationship with clients.
GIFT City, a financial hub in India, is gaining popularity among companies for raising funds and establishing operations. It serves as a gateway for accessing global capital at a lower cost, with 70% of external commercial borrowings being routed through it.
Reliance Broadcast Network Ltd's BIG FM has launched One Big World, an AI-powered media and entertainment ecosystem, to engage with consumers through various platforms. The model aims to attract younger audiences and provide measurable outcomes for partners, amidst disruption in the FM radio industry. RBNL plans to leverage its brand and local talent to build a connected content ecosystem.
AI is increasingly involved in cyber attacks, aiding in malware creation and intrusion operations. This has sped up the vulnerability discovery process, resulting in more prompts per user. Data leakage risk has doubled, particularly in Europe and Latin America. Anthropic's Project Glasswing has effectively addressed thousands of high-risk vulnerabilities using its unreleased model.
A parliamentary panel has suggested the gradual implementation of RBI's central bank digital currency to enhance the distribution of food subsidies. The panel proposes utilizing its features like quick transfers, traceability, and limited usage to expand the ongoing pilot program in Gujarat and Puducherry.
The government has allowed Foreign Direct Investment (FDI) in e-commerce for exports, with a focus on boosting India's e-commerce exports to $200-300 billion by 2030. This change in policy will allow e-commerce companies to hold their own inventory for export purposes, aligning the FDI framework with India's broader export promotion agenda.
The Bharat Renewable Energy Summit & Expo 2026, inaugurated by PM Modi, will focus on hybrid projects, battery storage, floating solar, agrivoltaics, and green hydrogen. With non-fossil capacity at 297 GW and solar tariffs at ₹2.15 per unit, the summit aims to attract investments and strengthen international cooperation in renewable energy.
Mercedes-Benz India stays positive amidst challenges, plans to increase prices by 2% due to weak rupee. Strong first quarter with double-digit growth and focus on multi-powertrain strategy, including plug-in hybrids and electric vehicles. No policy support needed, keeping an eye on currency fluctuations before making decisions.
Indian exchanges have launched two new indices, the BSE Saatvik 100 and NSE 500 Ahimsa, based on values such as non-violence, compassion, and avoidance of harmful products. These indices aim to attract investors looking for ethical investment options, and have shown promising returns so far.
Adani Power is looking to build its first nuclear power project in Bina and Nigrie, Madhya Pradesh, with a goal of 10 GW capacity by 2035. Investment decisions hinge on government regulations and the company is considering both domestic and international reactor technologies. This foray into the nuclear sector could position Adani Power as India's third-largest nuclear operator.
Brent crude prices reaching $100 a barrel have resulted in supply route disruptions and increased costs for India's crude, freight, tanker, and insurance. This could bring back fiscal pressures for the country, with a 36.6% increase in crude costs in just 19 days. Longer voyages, higher shipping costs, and increased insurance premiums could add up to $8 a barrel.