BUSINESS HIGHLIGHTS
New Delhi, Jul 26 (PTI) Following are the top business stories at 2030 hours: DCM89 BIZ-LD ITC-INVESTMENT **** ITC to invest Rs 20,000 crore in next five years: Chairman Puri New Delhi: Diversified firm ITC Ltd will invest Rs 20,000 crore in the next five years, largely on its FMCG vertical for capacity augmentation, modernisation and innovation, company Chairman Sanjiv Puri said on Friday. **** DEL55 BIZ-CAPITAL GAINS-SECY **** Capital gains tax rationalisation was industry's demand: Revenue Secy New Delhi: Revenue Secretary Sanjay Malhotra on Friday said the rationalisation of the capital gains taxes on various asset classes in the FY25 Budget is a tax simplification measure as sought by the industry and not to augment revenue. **** DEL114 BIZ-LD RUPEE-CLOSE **** Rupee recovers from all-time low, rises 5 paise to close at 83.73 against US dollar Mumbai: The rupee recovered from its all-time low level and appreciated 5 paise to 83.73 against the US dollar on Friday, on strength in the domestic markets and expectations of fresh foreign inflows. **** DEL61 BIZ-LD-STOCKS **** Sensex rebounds 1,293 pts, Nifty races to record high on value buying in bluechips Mumbai: Benchmark Sensex rebounded by 1,293 points while Nifty shot up to a record high on Friday, cutting short the five-day losing streak on heavy value buying at lower levels and a rally in blue-chips like Infosys, Airtel and Reliance Industries. **** DCM57 BIZ-TAX-REAL ESTATE **** I-T dept clarifies acquisition cost of real estate bought before 2001 for LTCG calculations New Delhi: The cost of acquisition of real estate properties purchased before 2001 will be the fair market value (FMV, not exceeding the stamp duty value) as of April 1, 2001, or the actual cost of the land or building for the purpose of calculation of long-term capital gains (LTCG) tax, the I-T department has said. **** DCM20 BIZ-GOLD-INVESTORS **** Gold prices drop by Rs 5,000/10gm post Budget; bring cheers to retail investors New Delhi: Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. **** DEL69 BIZ-FOREX **** India's forex reserves jump USD 4 bln to new high of USD 670.857 bln Mumbai: Surpassing the all-time high level achieved the previous week, India's forex reserves jumped by another USD 4 billion to USD 670.857 billion for the seven days ended July 19, the Reserve Bank said on Friday. **** DEL74 BIZ-STOCKS-WEALTH **** Markets' sharp rebound makes investors richer by Rs 7.10 lakh cr New Delhi: Investors' wealth soared Rs 7.10 lakh crore on Friday following a sharp rally in the equity market where the BSE Sensex jumped 1,292.92 points. **** DEL65 BIZ-RESULTS-LD INDIGO **** IndiGo's June quarter profit slumps 12 pc to Rs 2,729 cr on higher expenses New Delhi: The country's largest airline IndiGo on Friday posted a nearly 12 per cent decline in profit after tax at Rs 2,728.8 crore in the three months ended June as higher fuel and other expenses crimped the bottom line. **** DEL77 BIZ-GOLD-PRICE **** Gold, silver prices bounce back on global cues New Delhi: Gold prices rebounded on Friday after falling for three past sessions, rising Rs 50 to Rs 70,700 per 10 grams in the local market due to strong trend in the global markets. **** PTI SHW SHW
