NALCO shares jumped over 9% on November 18 after the company reported a five-fold increase in its quarterly profit. The company earned a net profit of ₹1,062 crore for Q2 FY 2024-25, up from ₹206 crore in the same period last year. Its total income grew by 32% to ₹4,001 crore, and the company also declared an interim dividend of ₹4 per share.
Nippon India Mutual Fund has launched two new passive funds that will track the Nifty Auto and Nifty Realty indices. These funds will focus on the auto and real estate sectors, offering advantages like low cost, diversification, and transparency. Both sectors are major drivers of growth, supported by government initiatives and strong past performance. The funds’ New Fund Offerings (NFOs) will close on November 28.
The Income Tax Department has warned taxpayers that not reporting foreign assets or income in their income tax return (ITR) could lead to a fine of up to Rs 10 lakh. The warning comes as the deadline for filing belated and revised ITRs approaches, with the final date being December 31. Taxpayers are encouraged to report all relevant foreign assets and income to avoid penalties under the Black Money Act.
Domestic air travel crossed 500,000 passengers for the first time on Sunday, driven by affordable fares, a long weekend, and the wedding season. A total of 5,05,412 passengers flew on 3,173 flights that day. Passenger numbers have stayed high, consistently reaching over 4.9 lakh daily. Airlines have benefitted from cheaper fares and more flights, which helped boost demand after the Diwali season.
Investor Rajesh Sawhney visits Goa twice a year and loves its vibe, beaches, and cafes, especially during the rainy season. Despite problems like taxi mafias, he still enjoys his time there. While some believe foreign tourism is on the decline, Goa’s tourism officials disagree, saying there's still high demand and an increase in domestic visitors.
Mangaluru is working to become a key IT hub, but better global air connectivity is essential for its growth. Industry leaders say more international flights and partnerships between airlines could improve access to global markets. Right now, Mangaluru mainly connects to West Asia, and traveling further requires connections through Bengaluru or Mumbai.
Taiwan's MediaTek, already a leader in India's smartphone chipset market, is expanding its focus to the automotive sector. The company has partnerships with OEMs like Tata Motors and Skoda Auto for its Dimensity Automotive platform and is collaborating with JioThings to innovate in the two-wheeler electric vehicle (EV) space. MediaTek sees India as a key market and hub for R&D, aiming to tap into both the smartphone and automotive sectors.
Diljit Dosanjh reacted to Telangana's ban on songs about alcohol and violence ahead of his concert in Hyderabad. He raised concerns about the unfair treatment, saying foreign artists get more freedom than Indian performers.
ByteDance, the company behind TikTok, is now worth $300 billion despite the uncertainty around a possible ban in the U.S. The company is offering to buy back shares at $180 each. A U.S. law requires ByteDance to sell TikTok by January 2024, or the app could be banned.
Narayana Murthy, founder of Infosys, emphasizes putting employee welfare before high executive salaries. He calls for "compassionate capitalism," where business leaders focus on meeting the basic needs of their lowest-paid workers first. Murthy also warns about uncontrolled tech growth, advocates for job creation in rural areas, and promotes responsible use of AI.