India Business News: Manufacturing Growth, Byju's Layoffs, Zomato Tax Demand

New Delhi, Apr 2 (PTI) Following are the top business stories at 2045 hours:


DEL10 BIZ-PMI-MANUFACTURING

India's mfg sector growth hits 16-yr high in Mar as new orders jump amid buoyant demand

New Delhi: India's manufacturing sector growth climbed to a 16-year high in March on the back of the strongest increase in output and new orders since October 2020, amid reports of buoyant demand conditions, a monthly survey said on Tuesday.



DCM56 BIZ-SEBI-BUCH

India commanding higher valuations on investors' optimism and trust: Buch

Mumbai: Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country.


DEL105 AVI-DGCA-LDALL VISTARA

DGCA seeks daily report on Vistara flight cancellations; airline cancels over 50 flights on Tuesday

New Delhi/Mumbai: Aviation watchdog DGCA has asked Vistara to submit a daily report on flight cancellations and delays as the Tata group airline cancelled more than 50 flights for the second straight day on Tuesday amid non-availability of pilots.



DCM85 BIZ-BYJUS-LAYOFFS

Byju's laying off 500 employees; sales, tuition centres to be impacted: Sources

New Delhi: Byju's is laying off about 500 employees, including from sales, amid a financial crunch, sources said, even as the troubled edtech firm maintained that it is in the final stages of business restructuring to streamline operations.



DCM28 BIZ-ZOMATO

Zomato gets service tax demand and penalty order of Rs 184 cr

New Delhi: Online food delivery platform Zomato said it has received a service tax demand and penalty order aggregating over Rs 184 crore, and will file an appeal against it before an appropriate authority.


DCM43 BIZ-TAX-TARGET

Govt meets tax collection target set in revised estimates: Official

New Delhi: The government has broadly met the tax collection target of over Rs 34.37 lakh crore for 2023-24 on the back of robust economic activity and improved compliance, an official said.


DCM72 BIZ-VEDANTA-GST

Vedanta receives GST demand notices worth Rs 1.86 cr

New Delhi: Mining giant Vedanta Ltd has received GST demand notices to the tune of Rs 1.86 crore for availing input tax credit, which has been termed "ineligible" by the tax authority.


DEL79 BIZ-LD-STOCKS

Stock markets end 3-day winning run as IT, private bank shares drop on profit-taking

Mumbai: Stock markets snapped the three-day winning run on Tuesday with benchmark Sensex falling by 110 points due to profit-taking in select IT, private bank and auto shares amid weak trends from the US markets and foreign fund outflows.


DEL71 BIZ-GOLD-PRICE

Gold falls Rs 50; silver climbs Rs 430

New Delhi: After hitting an all-time high level, gold prices on Tuesday fell Rs 50 to Rs 68,370 per 10 grams in the local market, following weak trends in the international markets, according to HDFC Securities.


DEL60 BIZ-RUPEE-CLOSE

Rupee falls 4 paise to close at 83.43 against US dollar

Mumbai: The rupee on Tuesday consolidated in a narrow range and settled 4 paise lower at 83.43 against the US dollar, weighed down by a strong dollar and elevated crude oil prices. PTI SGC



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