5 Minutes Read

New GST rule from today: Companies with more than Rs 5 crore turnover must generate e-invoices

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Goods and Services Tax or GST e-invoice has been made mandatory to prevent tax evasion and allow an invoicing standard in the country.

All GST taxpayers whose aggregate annual turnover exceeds Rs 5 crore in any financial year will have to mandatorily generate e-invoices for business-to-business (B2B) supply of goods and or services or for exports, starting August 1, Tuesday. Earlier, companies with an annual revenue of Rs 10 crore or above were only required to generate e-invoice.

Experts say that change in e-invoice rule and inclusion of companies with lesser turnover can help boosting the micro, small and medium enterprises (MSME) entities.

According to Mahesh Jaising, Partner leader, Deloitte Indias, the scope of MSMEs under e-invoicing will be expanded with this announcement.

“For companies e-invoicing is a boon rather than a bane as suppliers who are e-invoicing compliant result in proper flow of input tax credit and reduce the churn around credit issues,” Jaising was quoted as saying in a Press Trust of India (PTI) report.

Understanding GST e-invoicing

The Goods and Services Tax or GST e-invoice has been made mandatory to prevent tax evasion and allow an invoicing standard in the country. It is a system in which business-to-business (B2B) invoices and a few other documents are authenticated electronically by Goods and Services Tax Network (GSTN) for further use on the common GST portal, according to Cleartax.

The main purpose of GST invoicing is to electronically validate all B2B transactions and pre-populate the relevant information into the GST forms of taxpayers.

A look at reducing thresholds for e-invoice turnover limits

Who should raise GST e-invoice

The taxpayers must comply with e-invoicing in FY 2022-23 and onwards if their e invoice limit or turnover exceeds the specified limit in any financial year from 2017-18 to 2021-22. Also, the aggregate turnover will include the turnover of all GSTINs under a single PAN across India, as per Cleartax

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Nothing collaborates with Swedish House Mafia, releases sound pack and custom ringtones

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

London-based tech company Nothing has collaborated with Swedish House Mafia, offering fans personalized smartphone ringtones using the new Glyph Composer feature, sourced from the group’s upcoming album, starting right now.

London-based technology company Nothing has teamed up with GRAMMY Award-nominated electronic music titans Swedish House Mafia to bring the sounds from their highly anticipated upcoming album to Phone (1) and Phone (2).

In a press release, Nothing said the collaboration allows fans an opportunity to mix the iconic sounds of Swedish House Mafia into their own personalised smartphone ringtones using the new Glyph Composer feature.

The introduction of the Glyph Composer allows Nothing’s Phone (2) and Phone (1) users to create their own Glyph Ringtones, which are sequences of sounds and corresponding lights displayed on the back of their smartphones.

The Nothing Glyph Composer.

To create their personalised Glyph Ringtones, users simply need to find their rhythm and hit the record button, which enables them to produce unique Glyph ringtones using the exclusive Swedish House Mafia Glyph Sound Pack, sourced directly from the group’s new music. Alternatively, users can also opt to use the preset ringtone provided by the artists.

Swedish House Mafia has been a supporter of Nothing since its inception in 2020, and the group has also invested in the technology startup, co-founded by Carl Pei. The DJ supergroup recently unveiled its latest single, See The Light, which gained significant attention as the first release from the EA Sports’ Formula 1 soundtrack album. The track made its debut at the F1 Monaco Grand Prix as well.

Also read: Nothing Phone (2) Review: Sleeker, faster and just better

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Arvind SmartSpaces signs two golf themed projects in Ahmedabad with top-line potential of Rs 2,300 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Shares of Arvind SmartSpaces Ltd ended at Rs 401.25, up by Rs 401.25, or 14.84 percent on the BSE.

Arvind SmartSpaces Ltd (ASL), the real estate arm of Lalbhai Group, on Tuesday (August 1) said the company has signed two large horizontal (plots and Villas) multiuse, golf-themed development projects in Ahmedabad.

With a total estimated area of 704 acres and a top-line potential of Rs 2,300 crore, these projects are located in South Ahmedabad and would be ASL’s 17th and 18th projects in Ahmedabad.

Both the projects are signed under the joint development model enabling low capital intensity and higher returns, according to a stock exchange filing.

Also Read: Indian companies will soon be permitted to directly list securities overseas, says Finance Minister

South Ahmedabad has emerged as one of the promising micro-markets for plotted development or weekend homes in Ahmedabad, the company said.

Kamal Singal, managing director and CEO of Arvind SmartSpaces said, “The company has created several benchmarks and set standards in the plotting, villa and villament space even before the pandemic, as the concept of second home was quite popular in Ahmedabad.

Post-pandemic, we augmented our value proposition in this segment, with products that were ‘designed to inspire’ the consumers with amenities like golf courses, large luxury clubhouses, etc.”

Also Read: NCC wins new orders worth Rs 1,919 crore in July led mainly by the water division

Back in March, Arvind SmartSpaces sold out the entire launched inventory of the second phase of its residential project, Arvind Greatlands at Devanahalli in Bengaluru comprising 150 units within just 7 hours of launch.

In the second phase, the company sold more than 150 units valued at over Rs 100 crore. The first phase of the project, with a saleable area of 0.5 million square feet, aggregating to a booking value of over Rs 200 crore was sold out in 10 hours on November 26, 2022.

Shares of Arvind SmartSpaces Ltd ended at Rs 401.25, up by Rs 401.25, or 14.84 percent on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Mumbai-Jaipur Train shooting: High-level panel members reach Mumbai for probe

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Railway Board has set up a five-member committee to conduct a “comprehensive inquiry” into the incident which took place on Monday on the Jaipur-Mumbai Central Express train.

Members of a high-level committee, set up to conduct a probe into the incident of an RPF constable allegedly shooting dead four persons on a train, have reached here and they are expected to meet officials concerned on Tuesday, authorities said.

The Government Railway Police will also scan the footage of CCTV cameras on the train, a senior GRP official said.

The Railway Board has set up a five-member committee to conduct a “comprehensive inquiry” into the incident which took place on Monday on the Jaipur-Mumbai Central Express train, an official said.

RPF constable Chetan Singh allegedly shot dead his senior – Assistant Sub-Inspector Tikaram Meena – and three passengers near Palghar station on Mumbai’s outskirts, officials said.

The probe committee comprises principal chief security commissioners of the Western Railway and the Central Railway, principal chief commercial manager of the North-Western Railway, principal chief medical director of the North Central Railway and principal chief personnel officer of the West Central Railway.

According to railway officials, the panel has been asked to submit its report on the train firing incident to the Railway Board in the next three months.

“An ex-gratia of Rs 10 lakh has been announced for the passengers who died in this unfortunate incident. The family of ASI Tikaram will receive dues as per service rules,” a statement from the Western Railway said.

Two of the deceased passengers have been identified by the Railway police as Abdul Kadarbhai Mohammed Hussain Bhanpurwala (48), a resident of Nalasopara in Palghar and Asgar Abbas Sheikh (48), a resident of Madhubani in Bihar, while the third victim is yet to be identified.

Following the incident, accused constable Chetan Singh was nabbed with his weapon while trying to flee after passengers pulled the chain of the train which stopped near Mira Road station (on the Mumbai suburban network).

Meanwhile, a senior official said GRP will go through the footage of CCTV cameras installed on the train as part of their investigation.

He said the accused constable was first taken to the civic-run Shatabdi Hospital where doctors referred him to another facility. The accused is yet to reveal the exact reason for taking such a drastic step, the senior GRP official added.

Also Read:High-level Panel to conduct inquiry into Mumbai-Jaipur Train shooting; accused to be produced in court on Tuesday

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Ambuja Cements Q1 preview | CNBC-TV18 poll predicts 11% top-line growth; EBITDA set to rise over 30%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

According to a CNBC-TV18 poll, the top-line growth is anticipated to be around 11 percent. The EBITDA number is expected to increase significantly on a low base, by more than 30 percent, resulting in expanded margins.

Ambuja Cements is will report its Q1 FY24 earnings on Wednesday (August 2), and this time the focus will be on the standalone numbers, as the consolidated numbers will also include ACC’s figures.

According to a CNBC-TV18 poll, the top-line growth is anticipated to be around 11 percent. The EBITDA number is expected to increase significantly on a low base, by more than 30 percent, resulting in expanded margins.

However, it’s important to note that the profit after tax (PAT) might show a substantial decline due to a higher component of other income in the base quarter. If we strip that out, the overall performance is expected to be impressive.

One of the key factors to watch is the volume, which is projected to increase by approximately 15 percent. Although there is a wide range between 8 million and 9 million tonnes, we have estimated it at around 8.5 million tons.

The first half of the quarter witnessed good demand, which has positively impacted the company. However, realisations are expected to be soft, down by 3 to 4 percent on a yearly basis.

Margins are likely to expand due to operating leverage, lower input costs like pet coke and coal prices, and reduced unitary costs resulting from the shutdown of Ambuja Cements’ Himachal Pradesh unit in the previous quarter. With operations restarted, the current quarter is expected to benefit.

Management commentary will play a crucial role in understanding the company’s plans ahead, potential demand expansion, and any hints of a possible merger in the future.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Should Elon Musk be able to buy Twitter?

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Franklin Templeton MF says returned over Rs 27,000 crore to investors of 6 shuttered schemes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The six schemes had collective assets under management of Rs 25,215 crore, when the decision to close the funds was announced. Only short term income plan has some miniscule assets that have to be liquidated, according to a Franklin Templeton spokesperson.

Franklin Templeton Mutual Fund (MF) on Tuesday said it has returned over Rs 27,000 crore to unit holders of six shuttered debt schemes till date.

The amount translates to around 107.51 percent of the aggregate reported assets under management value across the six funds as of April 23, 2020, when the fund house announced shutting the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market.

Only short term income plan has some miniscule assets that have to be liquidated, according to a Franklin Templeton spokesperson.

The six schemes had collective assets under management of Rs 25,215 crore, when the decision to close the funds was announced, it said in a statement.

The schemes were Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund — In a separate statement, Franklin Templeton announced senior management appointments in its India AMC fixed income team and the alternatives business.

Rahul Goswami has joined as the Chief Investment Officer (CIO) and Managing Director (MD) of Franklin Templeton India’s fixed income team. Santosh Kamath, current Chief Investment Officer (CIO) of fixed income funds, will assume a new role as the President and CIO of Franklin Templeton Alternative Investments India Pvt Ltd. These appointments are effective from August 1.

The India Alternatives business will initially focus on alternative credit, covering listed and unlisted corporate bonds and structured credit.

“In his new role as President and CIO of Franklin Templeton’s Alternatives business in India. Santosh’s focus will be on developing and launching credit alternatives products targeted at the sophisticated investor… Rahul will work closely with me in formulating the India fixed income strategy,” Avinash Satwalekar, President at Franklin Templeton-India, said.

Goswami will oversee the fixed income functions of the locally managed and distributed debt schemes of Franklin Templeton Mutual Fund. Earlier, he was the CIO of fixed income at ICICI Prudential Asset Management.

With regard to the shuttered schemes, the Franklin Templeton spokesperson said that five out of six schemes have liquidated all performing assets and extinguished all units.

“As of July 31, 2023, these funds have distributed Rs 27,109.34 crore (approximately USD 3.7 billion) to unit holders, amounting to 107.51 percent of the aggregate reported AUM value across the six funds as of April 23, 2020,” he said.

The total disbursed amount so far ranges between 100.3 percent and 113.04 percent of the respective assets under management of the six schemes.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Power cuts expected in Bengaluru until August 3 due to maintenance work: Check full list of affected areas

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The maintenance work, including reconductoring and quarterly maintenance, will cause power interruptions lasting approximately seven hours in many parts of Bengaluru. The power outage is scheduled to take place between 10 am to 5 pm.

Many areas in Bengaluru are going to face frequent power cuts until Wednesday, August 3, as the Bangalore Electricity Supply Company (BESCOM) and the Karnataka Power Transmission Corporation Limited (KPTCL) would carry out essential maintenance work.

The planned maintenance work, including reconductoring and quarterly maintenance, will cause power interruptions lasting approximately seven hours in many parts of Bengaluru. The power outage is scheduled to take place between 10 AM and 5 PM.

Here is the full list of areas that could be affected due to the maintenance work carried out by BESCOM and KPTCL:

August 1 and August 2:

Singenahalli, Kanivehalli, Kenchapura, Devarahosalli, R D Kaval, Bukkapatna, Hosahalli, Hunasekatte, Yaradakatte, Neralagudda, Ramalingapura, Salapura, Balapura, Madenahalli, Ranganathapura, Nimbemaradalli, S Ranganahalli, Huildore, Singenahalli, Giddanahalli, Sakshihalli, Tuppadakoana, Karemadanahalli, Mannamma Temple, Sakshihalli, Tuppadakoana, Karemadanahalli, Kurubarahalli, Murudeshwara Ceramic Factory, Janakal, Kilaradahalli, Thanda and Ramanahalli.

August 3:

Neralkere GP, Kainodyu GP, Srirampura GP, Talya, Hulikere, Kuminaghatta, Venkateshapura, Malasinganahalli, Ghatihosalli, Singenahalli, Kanivehalli, Kenchapura, Devarahosalli, R D Kaval, Bukkapatna, Hosahalli, Hunasekatte, Yaradakatte, Neralagudda, Ramalingapura, Salapura, Balapura, Madenahalli, Bukkapatna, Ranganathapura, Nimbemaradalli, S Ranganahalli, Huildore, Kambadahalli, Giddanahalli, Sakshihalli, Tuppadakoana, Karemadanahalli, Mannamma Temple, Sakshihalli, Tuppadakoana, Karemadanahalli, Murudeshwara Ceramic Factory and Janakal Pura.

Madenahalli, Kilaradahalli, Thanda, Ramanahalli, Nalkudure, Doddaghatta, Kathalagere, Kariganur, Belalgere, Thyavanige, Harehalli, Navilehal, and related villages, Bidaragadde, Govinakovi, Thakkanahali, Holemadapura, Kammaragatte, Chilur, Malali, Gopagondanahalli, Kuruva, Kengatte, Gadekatte, Govinakovi, C Kadadakatte, and related villages, Honnali, Gollarahalli, Balleshwara, Arakere, Hiregonigere, Hanumasagara, Marikoppa, Soraturu, Kattuge, Arundi, Teertharamwswara, Kunduru, Koolambi, Timlapura, Yakkanahalli, Mukthenahalli and Hanumanahalli.

Neralgundi, Nyamathi, Kodikoppa, Vaderahatturu, Kunkuva, Salbalu, Madhanabavi, Bijogatte, and related villages, Channnenahalli, Kyasinakere, Lingapura, Rampura, Hotyaapura, Benakanahalli, Herebasur, Kulaghatte, Sasuvehalli, and related villages, Savalanga, Kodtalu, Chinnikatte, Ganjinahalli, Madapura, Mussenalu, Jayanagara, Machegondanahalli, and Kyathinkoppa.

In June, the KPTCL also carried out planned maintenance work in many parts of Bengaluru. The maintenance activities, conducted between 10 AM and 5 PM, led to power cuts lasting at least 5 hours. These works involved various tasks, such as periodic maintenance for the first quarter, tower erection, bus isolator maintenance, condition monitoring, bus coupling works, and hotline observations.

KPTCL is the sole company responsible for electricity transmission and distribution in the state of Karnataka.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Reserve Bank says 88% of Rs 2,000 banknotes returned after currency withdrawal

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Data received from banks indicated that the total value of returned Rs 2,000 banknotes until July 31, 2023, is Rs 3.14 lakh crore. Consequently, the Rs 2,000 banknotes in circulation as of July 31, 2023, stood at Rs 0.42 lakh crore, as stated in the central bank’s official release.

The Reserve Bank announced on Tuesday (Auguat 1) that 88 percent of the Rs 2,000 banknotes, amounting to Rs 3.14 lakh crore, have been returned to the banking system following the withdrawal of high-value currency notes from circulation in May.

Data received from banks indicated that the total value of returned Rs 2,000 banknotes until July 31, 2023, is Rs 3.14 lakh crore.

Consequently, the Rs 2,000 banknotes in circulation as of July 31, 2023, stood at Rs 0.42 lakh crore, as stated in the central bank’s official release.

Since May 19, 2023, about 88 percent of the Rs 2,000 banknotes in circulation have been returned. Initially, on March 31, 2023, the total value of Rs 2,000 banknotes in circulation was Rs 3.62 lakh crore, but it declined to Rs 3.56 lakh crore by May 19, 2023.

Among the returned Rs 2,000 banknotes, approximately 87 percent were in the form of deposits, while the remaining 13 percent were exchanged for other denomination banknotes.

To avoid any last-minute rush before September 30, 2023, the Reserve Bank has advised the public to utilise the next two months to deposit and/or exchange their Rs 2,000 banknotes held with them.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Titan Q1 earnings preview: Revenue expected to rise by 15%, margin may see slight dip at 12.5%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

According to a CNBC-TV18 poll, Titan’s standalone revenue is anticipated to show growth of 15 percent, margin may experience a slight decline to 12.5 percent.

Tata Group firm Titan Company Ltd is scheduled to announce its earnings for the first quarter of the fiscal year 2023-2024 (Q1FY24) on August 2.

According to a CNBC-TV18 Poll, the company’s standalone revenue is anticipated to show growth of 15 percent, reaching Rs 10,300 crore compared to Rs 8,961 crore in the same quarter last year.

Moreover, the company’s EBITDA is expected to increase by 10 percent to Rs 1,280 crore, compared to Rs 1,164 crore in Q1FY23.

However, it is projected that the company’s margin will experience a slight decline to 12.5 percent, down from 13 percent in Q1FY23. Despite this, the profit after tax for Q1FY24 is estimated to rise by 8.5 percent to Rs 860 crore.

In the Q1FY24 business update released on July 6, Titan Company reported significant growth in various segments. The jewellery business witnessed a growth of 21 percent, while the analog watches business and wearables business experienced growth of 8 percent and 84 percent, respectively.

Additionally, the eye care division recorded a sales growth of 10 percent, and fragrance & fashion accessories saw an 11 percent increase, with Taneria’s sales surging by 81 percent.

The upcoming quarters, Q2 and Q3, are expected to face challenges due to the inauspicious Adhik Maas period (July 18 to August 16) and a lower share of weddings.

Investors and analysts will closely monitor the management’s commentary on demand, margin, and market share outlook to gain insights into the company’s future performance.

Currently, the Titan Company stock is trading at 69 times its 12-month forward price-to-earnings ratio (P/E) and has risen by 30 percent in the last six months.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Kaynes Technology aims for aerospace growth, anticipates 40-50% expansion over next 3 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Kaynes Technology India expressed unwavering confidence in the company’s potential for substantial growth. With a robust business outlook and the strategic focus on expanding into promising sectors like aerospace, the company anticipates a remarkable growth trajectory over the next three years.

One of the key growth strategies for Kaynes Technology India is to strengthen its presence in the aerospace industry. The company has an ambitious plan to increase aerospace’s contribution to its revenue.

Currently, the aerospace segment accounts for a significant portion of the company’s operations, and it aims to further enhance its prominence and target a 10 percent revenue contribution by the first half of FY25.

The company reported earnings for the June-ended quarter (Q1FY24) and witnessed a decline in its performance compared to the previous quarter, but when considering the year-on-year performance, the net profit was supported by other income. However, the company’s margin experienced a 300-basis point decrease in comparison to the fourth quarter of FY23.

“In the first half, we will achieve a 10 percent level. We have got orders, but we are in the stages of converting this into the first article inspection and getting the approvals done from the customers and it will take not more than two quarters.

So, next year’s first half we will start billing and that is our plan,” Kaynes Technology India’s MD and Promoter Ramesh Kunhikannan told CNBC-TV18 after they reported the company’s earnings.

The company’s order book reflects its strong market position and growing demand for its services. Kunhikannan highlighted that Kaynes currently holds an impressive order book valued at Rs 3,000 crore. These orders are set to be executed over the next 18-20 months, indicating a promising revenue stream for the company in the short to medium-term.

Kaynes Technology is positioning itself for remarkable growth in the coming years. By leveraging the potential of the aerospace segment, executing an impressive order book, and anticipating substantial expansion, the company is well-prepared to capitalise on opportunities and deliver strong performance.

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?