Net direct tax collection in the eight months of the current fiscal touched 58.34 per cent of Budget Estimates (BE) at Rs 10.64 trillion.

The net tax collection for April-November stood at Rs 10.64 trillion, which is 23.4 per cent higher than the corresponding period of last year, the Ministry of Finance said.

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, has strengthened its strategic partnership with Terminal Investment (TiL), the container terminal operating and investing arm of Mediterranean Shipping Company (MSC), the largest container shipping line in the world, for the operation of Adani Ennore Container Terminal (AECTPL).

TiL, through its fully-owned subsidiary Mundi Ltd, will acquire a 49 per cent shareholding of AECTPL from APSEZ for a consideration of Rs 247 crore.

Shares of Texmaco Rail & Engineering hit a new high of Rs 188.95 as they rallied 10 per cent on the BSE in Friday's intraday trade after the company said it has received an order to manufacture and supply 3,400 BOXNS wagons for Rs 1,374 crore.

At 09:30 AM, the stock was quoting 6 per cent higher at Rs 181.35 as compared to 0.3 per cent gain in the S&P BSE Sensex. The average trading volumes on the counter have, so far, jumped 1.5 times with a combined 9.6 million equity shares of the company having changed hands on the NSE and BSE.

Mahindra Group on Thursday announced that it has tied up with Ontario Teachers' Pension Plan Board to capitalise on renewables in India. Under the agreement, Ontario Teachers' will acquire a 30 per cent stake in Mahindra Susten Pvt Lts for Rs 2,371 crore. Then, Mahindra Group and Ontario Teachers' will jointly explore the sale of an additional 9.99 per cent in Mahindra Susten.

Under the agreement, the companies will also establish an Infrastructure Investment Trust (InvIT) comprising renewable power assets of Mahindra Susten with an operation capacity of 1.54 GWp.

Adani Green Energy Ltd on Thursday announced that its subsidiary, Adani Saur Urja, has incorporated its wholly-owned subsidiary, Adani Renewable Energy Fifty One Ltd. Its other subsidiary, Adani Renewable Energy Holding Nine Ltd, has also incorporated Adani Renewable Energy Fifty Five Limited.

"The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sell, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy," the company said in an announcement on Thursday.

Standard and Poor’s (S&P) Global Ratings has downgraded Vedanta Resources Ltd’s long-term issuer rating and bonds from "CCC" to "CC" on a potential transaction involving extension of the maturities of three dollar denominated bonds amounting yo $3.2 billion. "CC" ndicates highly vulnerable status.

"We view Vedanta Resources' proposed liability management exercise involving three of its US dollar-denominated bonds totalling $3.2 billion as a distressed transaction under our criteria," S&P said in a statement.

During the Black Friday and Cyber Monday (BFCM) shopping events held globally between November 17-27, Indian exporters on Amazon Global Selling saw more than 80 per cent business growth compared to business as usual (11-day period starting October 20th) and over 25 per cent growth compared to the same period last year.

Coming right after the festive season in India, the BFCM sale has traditionally been a key sales period for Indian exporters, and the BFCM'23 shopping event provided a spike in business for thousands of exporters on Amazon Global Selling.

Walmart-owned online fashion retailer Myntra registered a record high of 60 million monthly active users this festive season. Driven by a growing customer base, with differentiated offerings for Gen Z, and a robust portfolio of international fashion and beauty brands, the platform solidified its position in the premium and mass premium segments, growing faster than the market.

Backed by a tech-led experience and a choice of 2,300,000 styles, the platform recorded 75 million new app users in 2023, with its loyal customer base growing by 100 per cent year-over-year in the last 18 months.

The Parliament witnessed a major security breach on Wednesday when two unidentified men jumped from the visitor's gallery of the Lok Sabha with what looked like gas canisters. The House was adjourned following this breach. The incident happened when Khagen Murmu, a BJP member of Parliament from Maldaha (West Bengal), was speaking in the Lok Sabha.

Adhir Ranjan Chowdhury, leader of Congress in Lok Sabha, said that the men hurled something like a gas canister which emitted a gas inside the House.

Electrical equipment manufacturer HPL Electric and Power Ltd on Wednesday announced that it has won smart meter orders worth Rs 545 crore from various customers.

HPL Electric and Power produces a diverse range of electric equipment, including metering solutions, switchgear, lighting equipment and wires and cables, and caters to consumer and institutional customers in the electrical equipment industry.

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