The government is set to make a fresh attempt to attract bidders to operate private passenger trains along 12 identified clusters across the Indian Railways’ network. An announcement to that effect is expected to be made by Finance Minister Nirmala Sitharaman when she presents the Union budget for 2022-23 on February 1. The last round of bidding involving an investment of Rs 30,000 crore was scrapped in August as just two companies submitted financial bids although dozens had shown interest. Indian Railways has now revised the tender conditions to attract more bidders after consultations with investors and industry experts. It is understood to have agreed to establish the Rail Development Authority (RDA) as a regulator to, among other things, advise the government on fares, promotion of competition and creation of a positive environment for investment. Top government sources told Moneycontrol that the railways has submitted a revised proposal to the finance ministry for … [Read more...] about Fresh attempt to introduce private trains likely to be announced in Union Budget for 2022-23
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Share to Twitter Share to Linkedin The IRS has announced that storm victims in parts of Kentucky now have until Nov. 15, 2022, to file various individual and business tax returns and make tax payments. The IRS gives the relief to any area designated by the Federal Emergency Management Agency ( FEMA ) as qualifying for individual or public assistance. Currently, individuals and households that reside or have a business in Breathitt, Clay, Floyd, Johnson, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike and Wolfe counties in Kentucky qualify for tax relief. The same relief will be available to any other locality added later by FEMA. The current list of eligible localities is always available on the disaster relief page on IRS.gov. The tax relief postpones various tax filing and payment deadlines that occurred starting on July 26, 2022. As a result, affected individuals and businesses will have until Nov. 15, 2022, to file returns and pay any … [Read more...] about IRS Extends Tax Return Due Dates For Kentucky Storm & Flood Victims
Share to Twitter Share to Linkedin Omar Choucair , CFO, Trintech, has spent 20+ years leading financial and administrative organizations for public and private companies. In a continued inflationary environment, with additional interest rate hikes expected and many signs pointing to a looming recession on the horizon, profit margins are likely to trail the original forecasts made at the beginning of 2022. Tech companies have been hardest hit by rising interest rates and economic volatility. These “growth stocks” including Microsoft, Amazon, Apple, Tesla and Google have all lost “at least 20% of their market value since the beginning of the year.” Furthermore, the second half of 2022 guidance will be critical as management teams tighten spending patterns to offset the impact of inflation, rising interest rates and global supply chain constraints. As management teams regroup and forecast the second half of 2022, they are likely to lower … [Read more...] about Smarter Recession Reinvestments: Three Ways To Invest In Future Growth
Share to Twitter Share to Linkedin In a major win for automakers and future electric vehicle buyers, tax credits for the purchase of EVs are likely to get a new lease on life, thanks to a surprise deal between Sen. Joe Manchin (D-W.V.) and Senate Majority Leader Chuck Schumer (D-N.Y.). The pair had been covertly negotiating to revive select components of the House-passed Build Back Better bill, including its climate change provisions, and announced an agreement last week that they branded the “Inflation Reduction Act of 2022.” Schumer intends to push the deal forward under special “reconciliation” rules of the Senate, which allow the Democrats to pass it without any Republican support, so long as all 50 Democrats are on board. Sen. Krysten Sinema, the Arizona Democrat who is now considered the likeliest holdout in her caucus, has not said yet whether she’ll support it. The deal, if it becomes law, will extend the current $7,500 per vehicle credit until … [Read more...] about Electric Vehicle Tax Credits Likely To Get New Life And A Manchin Makeover
Share to Twitter Share to Linkedin On July 27, 2022, Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.V.), announced they had reached an agreement on a reconciliation bill which includes a significant adjustment to Section 45, the renewable electricity production tax credit (PTC). If passed, the bill , which they’ve dubbed The Inflation Reduction Act of 2022 (IRA), would restore incentives for new wind and solar projects over the next decade. Background The PTC was first enacted as part of the Energy Policy Act of 1992 to promote the development of certain renewable energy sources. Research has suggested that the PTC has been the main driver behind the growth of wind and solar investment over the last three decades. The PTC is a per kWh credit for electricity produced and sold using qualified energy resources and the credit can be claimed over a ten year window. As of December 31, 2021, the credit has expired, and new renewable … [Read more...] about How Democrats’ New Budget Deal Boosts Tax Credits For Renewable Electricity Production
Share to Twitter Share to Linkedin Everyone is still paying more than they’d like at the pump. Even after falling from a record high of over $5 per gallon in mid-June, national average gas prices are still $4.50 a gallon, with California tipping the scales of an average price of $5.69 a gallon . There are plenty of reasons for it – from the rising price of a barrel of crude oil to the summer driving demand to the cut-off of Russian oil shipments due to the war in Ukraine – and it doesn’t look like there’s much relief in sight. In the wake of these skyrocketing prices, gas taxes have become an increasingly polarizing issue. Some legislators have made gas taxes the scapegoat, with some jurisdictions voting in favor of a gas tax holiday or even an outright suspension. It begs the question: What is the gas tax, and is trimming it (or outright eliminating it) the fix Americans need? Gas taxes are nothing new. They’re excise taxes that date back to 1919, … [Read more...] about Would Eliminating The Gas Tax Slash Prices At The Pump?
Share to Twitter Share to Linkedin Since the birth of Facebook in 2004, social media has had an ever-increasing presence in everyday life. Facebook now has almost three billion monthly users. In total, over 4.5 billion people use social media, more than half of all people on Earth. The global social media market was $160 billion in 2021 and is expected to reach $833 billion in 2026, with a compound annual growth rate (CAGR) of 39.7%. Over the last decade, companies have begun to use the large reach of social media sites as a marketing tool. In fact, over 90% of companies worldwide use social media for marketing. This is how social media companies make the majority of their money. Additionally, some offer a subscription service for added features. Despite the rapid rise of these companies, earnings have not been positive in 2022. Many companies are missing estimates—and by a large margin. Meta’s second-quarter earnings were released in late July and … [Read more...] about Earnings Are In: Should You Invest In These Social Media Companies?
File photo The Monetary policy committee (MPC) of the Reserve Bank of India (RBI) has decided to hike the repo rate by 50 basis points to 4.9 percent on Wednesday. The RBI has been vocal about rising inflation and its intentions to withdraw liquidity in the financial system. This should ensure that the bond yields will move up and the mutual fund schemes investing in bonds, too, will see some impact. Here is how you should deal with your debt fund investments: Inflation is the focus The rising inflation in the economy has been a cause for concern for most market participants. The central banks worldwide has been raising interest rates, and the RBI too is expected to act in similar manner. The inflation expectations are above the current upper limit of 6 percent set by the RBI for the medium-term inflation. “On the assumption of a normal monsoon in 2022 and average crude oil price (Indian basket) of $105 per barrel, inflation is now projected at 6.7 percent in … [Read more...] about Date with debt funds: Taking a tough call amid soaring inflation, rising policy rates
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reported Consolidated quarterly numbers for Prudent Corporate Advisory Services are: Net Sales at Rs 128.42 crore in June 2022 up 43% from Rs. 89.81 crore in June 2021. Quarterly Net Profit at Rs. 19.37 crore in June 2022 up 24.84% from Rs. 15.52 crore in June 2021. EBITDA stands at Rs. 32.37 crore in June 2022 up 39.35% from Rs. 23.23 crore in June 2021. Prudent Advisor EPS has increased to Rs. 4.68 in June 2022 from Rs. 3.75 in June 2021. Close Prudent Advisor shares closed at 549.20 on August 01, 2022 (NSE) Prudent Corporate Advisory Services Consolidated Quarterly Results in Rs. Cr. Jun'22 Mar'22 Jun'21 Net Sales/Income from operations 128.42 129.53 89.81 Other Operating Income -- -- -- Total … [Read more...] about Prudent Advisor Consolidated June 2022 Net Sales at Rs 128.42 crore, up 43% Y-o-Y
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reported Standalone quarterly numbers for Prudent Corporate Advisory Services are: Net Sales at Rs 115.30 crore in June 2022 up 49.15% from Rs. 77.31 crore in June 2021. Quarterly Net Profit at Rs. 15.59 crore in June 2022 up 35.75% from Rs. 11.49 crore in June 2021. EBITDA stands at Rs. 26.54 crore in June 2022 up 53.23% from Rs. 17.32 crore in June 2021. Prudent Advisor EPS has increased to Rs. 3.77 in June 2022 from Rs. 2.77 in June 2021. Close Prudent Advisor shares closed at 549.20 on August 01, 2022 (NSE) Prudent Corporate Advisory Services Standalone Quarterly Results in Rs. Cr. Jun'22 Mar'22 Jun'21 Net Sales/Income from operations 115.30 111.24 77.31 Other Operating Income -- -- -- Total … [Read more...] about Prudent Advisor Standalone June 2022 Net Sales at Rs 115.30 crore, up 49.15% Y-o-Y