Business News Update; share market, gold silver rate, petrol diesel price today, Retail inflation declined to 5.22% in December | Retail inflation declined to 5.22% in December: Government's net direct tax collection increased by 15.9%, no change in the prices of petrol and diesel today.

Yesterday's big news was related to retail inflation. Due to cheaper food items, the retail inflation rate has come down to a 4-month low of 5.22% in December. At the same time, the net direct tax collection of the Government of India has increased by 15.9% to Rs 16.89 lakh crore in the current financial year 2024-25.

Before tomorrow's big news, today's major events to keep an eye on…

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1. Retail inflation decreased to 5.22% in December: This is the lowest level in 4 months, prices of food items decreased.

Due to cheaper food items, retail inflation has fallen to a four-month low in December. According to government data released on Monday, inflation has come down to 5.22%. Earlier in November the inflation rate was 5.48%. Whereas 4 months ago in August, inflation was at 3.65%.

Food items contribute about 50% to the inflation basket. Its inflation has decreased from 9.04% to 8.39% on month-on-month basis. Whereas rural inflation has decreased from 5.95% to 5.76% and urban inflation has decreased from 4.89% to 4.58%.

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2. Government's net direct tax collection increased by 15.9%: ₹16.89 lakh crore so far in FY-25, tax refund of ₹3.74 lakh crore issued

The net direct tax collection of the Government of India has increased by 15.9% to Rs 16.89 lakh crore in the current financial year 2024-25. In the same period last year, it was Rs 14.58 lakh crore. The Income Tax Department gave this information on January 13 (Monday).

Central Board of Direct Taxes (CBDT) said that till January 12, net direct tax collection of Rs 16.89 lakh crore has been done. This includes corporate tax (net of refund) of Rs 7.68 lakh crore, non-corporate tax of Rs 8.74 lakh crore and securities transaction tax (net of refund) of Rs 44,538 crore.

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3. HCL-Tech's profit increased by 5.54% in the third quarter of FY25: Revenue increased by 5.07% to ₹ 29,890 crore, the company will pay an interim dividend of ₹ 18 per share.

IT company HCL Tech's consolidated net profit in the October-December quarter (Q3FY25) has increased by 5.54% to Rs 4,591 crore on an annual basis (YoY). In the same quarter last year (Q3FY24), the company's net profit was Rs 4,350 crore.

Whereas in the last quarter (Q2FY25) it was Rs 4,235 crore. That means the company's net profit has increased by 8.40% on quarterly basis (QoQ). HCL released the results for Q3FY25 i.e. the third quarter of financial year 2025 on Monday (January 13).

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4. Grow is planning to launch IPO: Stock broking company wants to raise ₹ 6,060 crore from the issue, ongoing discussions with investment bankers.

Stock broking company Grow is planning to launch its Initial Public Offering i.e. IPO. According to media reports, the company has discussed with many investment bankers regarding the IPO.

The company wants to raise about $700 million i.e. Rs 6,060 crore from the IPO at a valuation of $7-8 billion (Rs 69,258 crore). According to sources, Grow has approached investment bankers to start the process of its IPO.

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5. Rupee hits record all-time low: 57 paise fall against dollar and closes at 86.61, foreign goods will become expensive

The rupee fell to its record all-time low on January 13. It saw a fall of 57 paise against the US dollar and closed at an all-time low of Rs 86.61 per dollar. Earlier on January 10, the rupee had closed at 86.04 against the dollar.

According to experts, the reason for this fall in the rupee is the recent selling done by foreign investors in the Indian stock market. Apart from this, geopolitical tensions have also had a negative impact on the rupee.

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Now read the news you need…

Last 3 days to file belated income tax return: If you do not do so by January 15, you may receive a notice, know what are the rules

If you have not yet filed Income Tax Return (ITR) for the financial year 2023-24, then you can file it with late fees by 15 January 2025. That means you have only 3 days left for this. After this you will not be able to file the return, due to which you may have to face other legal problems including fine and notice.

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