GST Collection in February crosses Rs 1.30 Lakh Cr mark for the 5th time.

GST collection crossed Rs 1.30 lakh crore mark for the 5th time. Revenues in Feb 2022 18% are more than the GST revenues in a similar month last year and 26% more than the GST revenues in Feb 2020. During the month, revenue from import of goods was 38% higher and the revenues from the domestic transaction (including import of services) are 12% higher than the revenues from these sources during the same month last year.

India gets $20 billion in investment proposals for chip production.

India has received proposals worth $20.5 billion from five companies to manufacture semiconductor fabs and display fabs locally. Companies including Vedanta in a joint venture with Foxconn, Singapore-based IGSS Ventures Pte, and ISMC have proposed $13.6 billion investments for manufacturing the chips, which are used in a wide array of products ranging from 5G devices to electric cars. The three companies have sought the support of $5.6 billion from the federal government under its incentive plan.

Mahindra Finance Q3 consolidated net at Rs 992cr after a year-ago loss

Mahindra & Mahindra Financial Services Ltd posted a consolidated net profit of Rs 992 crore in the third quarter ended December 2021 (Q3Fy22) as against a loss of Rs 223 crore in the same quarter of Fy21.

Union Bank of India plans to raise Rs 1,500 crore through AT1 bond

Union Bank of India is looking to raise up to Rs 1,500 crore in capital through tier-I bonds and another Rs 1,100 crore via Indian Renewable Energy Development Agency (IREDA) via medium-term bonds in the coming week.

DCB Bank's shares decline nearly 2% after 22% fall in Q3 net profit

Shares of DCB Bank on 9th February 2022, dipped nearly 2 percent after the company reported a 22 percent decline in its net profit for the quarter ended in December 2021.

Muthoot Finance net profit rises 4% to Rs 1,044 cr in the December quarter

Muthoot Finance on 8th February 2022, reported a rise of 4 percent in its consolidated net profit at Rs 1,043.60 crore in the quarter ended December 2021.

Govt to become the largest Voda-Idea shareholder

Vodafone Ideas board on January 11, 2022, informes the department of telecommunication (DoT)that it will opt for converting the interest on adjusted gross revenue (AGR) and spectrum dues into government equity. Once the plan goes through a period of four years, the government will become the single largest shareholder in the company with a stake of 35.8%.

SBI lists maiden issue of $300-mn Formosa bonds on India INX

The State Bank of India's recent fundraising of $300 million through the issuance of Formosa Bonds is a testimony of the confidence reposed by the overseas investors in the country's growth story.

Oil prices above $80 a barrel after Opec+ output target hike

Oil prices extended gains on 5 January 2021, rising towards $81 a barrel after Opec+ producers stuck to an agreed output target rise for February and investors assessed the impact of a spike in Covid-19 cases caused by the Omicron variant.

TCS now the second most valuable IT services brand globally.

Tata Consultancy Services (TCS) has become the second most valued brand in the Information Technology (IT) services sector globally, while Accenture retains the title of the world’s most valuable and strongest IT services brand, according to Brand Finance.

LIC Housing Finance shares jump nearly 13% as the firm sees 6% rise in profit

Shares of LIC Housing Finance (LICHFL) on January 28th, 2022 zoomed nearly 13 percent after the firm reported a 6 percent increase in profit after tax for the quarter ended December 2021. The stock jumped 12.63 percent to Rs 389 on the BSE. On the NSE, it rallied 12.59 percent to Rs 389.