Shares of RailTel Corporation of India (RailTel) hit a new high of Rs 611.10, surging 18 per cent on the BSE in Friday’s intra-day trade amid heavy volumes.

In the past one month, the stock of telecom service provider for Indian Railways has rallied 47 per cent after winning multiple orders worth Rs 161 crore. In the past one year, the stock price of RailTel has zoomed 342 per cent, as compared to 23 per cent rise in the BSE Sensex.

In a relief to Congress leader Rahul Gandhi, the Bombay High Court on Friday quashed a magistrate's order permitting an RSS worker to submit fresh and additional documents in a pending criminal defamation complaint.

RSS worker Rajesh Kunte had in 2014 lodged a defamation complaint before the Bhiwandi magistrate's court, claiming the Congress leader had made false and defamatory statements during a speech that the right-wing outfit was responsible for the assassination of Mahatma Gandhi.

India’s largest IT services company Tata Consultancy Services (TCS) marginally beat Bloomberg estimates for its first-quarter (Q1) of 2024-25 performance, but macroeconomic uncertainties continued to weigh on the management’s demand outlook.

For Q1, TCS net profit grew 8.7 per cent year-on-year (Y-o-Y) to Rs 12,040 crore, but fell 3.1 per cent sequentially.

Goods and services tax (GST) will be applied to 1 per cent of corporate guarantee fees on an annual basis and become applicable from October 23, 2023, the government has said.

This will give relief to companies.

The Central Board of Indirect Taxes and Customs (CBIC) has notified the rules following the decision on corporate guarantees in the GST Council meeting on June 22.

Consumer electronics startup Indkal Technologies on Thursday announced it has entered a trademark licensing agreement with Acer Incorporated to design, manufacture, and distribute smartphones under the Acer brand in India.

The deal marks the introduction of Acer-branded smartphones into the Indian market.

Global IT services firm and India’s largest IT services company, Tata Consultancy Services (TCS), announced a net headcount addition of 5,452 employees. This follows three quarters of negative headcount decline.

At the end of the first quarter of FY25, TCS reported a total headcount of 606,998.

TCS becomes the second firm to announce a net addition, after Accenture.

The Delhi High Court on Thursday listed for hearing on September 9 Chief Minister Arvind Kejriwal's petition challenging the summonses issued to him by the Enforcement Directorate in connection with its probe into an excise policy-linked money laundering case.

A bench headed by Justice Prathiba M Singh granted four more weeks to the AAP leader to file a rejoinder to the reply submitted by the ED.

The much-anticipated wedding of Anant Ambani and Radhika Merchant promises to be an event of grand proportions. According to reports from Hindustan Times, the Ambani family has chartered three Falcon-2000 jets to transport their distinguished guests to Mumbai for the festivities this Friday. Billionaire Mukesh Ambani’s youngest son is set to wed his long-time girlfriend in what is being hailed as one of the most extravagant Indian weddings in recent memory.

Rajan Mehra, CEO of air charter company Club One Air, confirmed that the Ambanis have hired three of his company’s Falcon-2000 jets for the occasion.

Rail Vikas Nigam Limited (RVNL) has surpassed public sector undertaking (PSU) oil marketing company, Bharat Petroleum Corporation (BPCL) and lender, Punjab National Bank (PNB), in market capitalisation (market cap) ranking as the stock of the state-owned civil construction company continued its upward movement on strong order inflows from railways.

Shares of RVNL hit a new high of Rs 643.95 as they rallied 5.5 per cent on the BSE in Thursday’s intra-day trade after the company said it has received Letter of Acceptance (LoA) from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target."

Former Reserve Bank of India (RBI) Governor Raghuram Rajan has called on India to prioritise the enhancement of its services sector over the expansion of manufacturing to achieve sustainable economic growth and create jobs. Speaking at the Annual World Bank Conference on Wednesday, Rajan argued that manufacturing is not the "holy grail" for India’s economic success.

Rajan highlighted that the manufacturing sector faced challenges due to limited export absorption and was no longer competing against high-cost labour in the US.

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