India can withstand a wider-than-budgeted fiscal deficit in FY27 without putting its investment-grade sovereign rating at risk, according to Moody's Ratings, which expects any pressure from higher energy prices to be temporary.
Business news live: Delhi to roll out revised EV policy from July 1, announces CM Rekha Gupta
Business news live: Moody’s Says India Rating Safe Despite Potential Deficit Gap
India can withstand a potentially wider-than-forecast fiscal deficit this year without jeopardizing its investment-grade rating, according to Moody’s Ratings, as higher energy prices are expected to pose only temporary budget pressures. “We don’t see India as being particularly affected because this shock is largely negative for most sovereigns,” Christian de Guzman, Singapore-based senior vice president at Moody’s Ratings, said in an interview. Moody’s assigns India a Baa3 rating, the lowest investment-grade tier, with a stable outlook. The assessment reflects the government’s steady progress in repairing its finances since the Covid-19 pandemic, de Guzman said. - Bloomberg
Business News Live: Dunhill maker BAT to cut 9,000 jobs globally amid declining cigarette demand
British American Tobacco Plc is reducing its 47,000-strong global workforce by about one-fifth as part of its sweeping plan to bring down costs and simplify operations. By the end of this year, the maker of Dunhill cigarettes will have slashed 5,500 jobs and outsourced a further 3,500, according to an internal notice that lays bare the scale of change taking place at the tobacco giant. The numbers, seen by Bloomberg News, do not include BAT’s US business, which is operated through its subsidiary Reynolds American Inc. Most other countries BAT operates in are affected by this ongoing restructuring program and the company will detail the extent of job cuts on Monday. It had pledged to make £600 million ($793 million) of annual cost savings by the end of 2028. Shares of BAT fell as much as 1.9% in London, trimming year-to-date gains. The stock was up nearly 13% since the start of the year through Friday’s close. - Bloomberg
Business News Live: HAL board approves final dividend of Rs 10/share for FY26
Shares of Hindustan Aeronautics Ltd (HAL) were trading at Rs 4,318, down 1.16%, in afternoon trade on Monday after the defence PSU announced a final dividend for FY26.
Business News Live: HAL board approves final dividend of Rs 10/share for FY26
Business news live: Tata Motors, Castrol India partner to launch used engine oil circularity pilot in Karnataka
Business News Live: Omaxe announces dedicated hospitality vertical with Rs 6,200 crore investment
Omaxe Announces Dedicated Hospitality Vertical With Rs 6,200 Crore Investment
To Develop 19 Hotels Spread Over Nearly 5 msf Across Five States In The Next 4-5 Years
Will Have A Presence Across 13 Cities In Five States Over The Next 4-5 Years
Business News Live: Toyota sales drop again in May as Iran conflict hits production
Toyota Motor Corp.’s posted another drop in global sales, hit by Middle East disruptions and tough competition in China that pushed the world’s top-selling automaker into a fourth straight month of declines. Global sales in May, including those of subsidiary Daihatsu Motor Co., fell 7.4% from a year earlier to 885,207 units, the Japanese auto manufacturer said Monday. Production declined 5.8% to 857,765 units. Despite the US and Iran deal to end the conflict, the Strait of Hormuz is only gradually reopening with attacks on vessels still flaring, underscoring how Toyota and other global automakers remain dependent on the region’s logistics corridors and energy-dependent supply chains. For Toyota, which has dominated global volumes, the disruptions, along with aggressive local EV competition in China, threaten to erode the record profits it posted over the past fiscal year. – Bloomberg
Business news live: June TDS challan-cum-statement due by July 30
Tax deductors must file the challan-cum-statement for specified tax deducted during June 2026 by July 30, 2026. Timely filing is essential to remain compliant with tax regulations and avoid penalties.
Business news live: Eligible tax deductors must deposit TDS by July 7
Tax deductors who have received approval for quarterly payment of tax deducted at source (TDS) for the April-June quarter must deposit the tax by July 7, 2026. Missing the deadline could attract interest and other consequences for delayed payment.
Busines news live: Multiple tax reporting requirements fall due on July 15
Several reporting obligations become due on July 15, 2026, particularly for government offices, stock exchanges, authorised dealers, IFSC units and intermediaries dealing with non-resident investors. Eligible entities should complete the required filings within the prescribed timeline.
Business News Live: India's forex reserves rise to $672.6 billion, bank credit grows 17.7%, says CareEdge Moneycast
Business news live: Adani Green operationalises 150 MW solar project at Khavda; renewable capacity nears 20 GW
Businee news live: Waaree Energies clarifies US customs determination; says no adverse findings on Chinese-origin solar cells
Businee news live: PFC, REC boards approve merger scheme; share swap fixed at 88:100
July brings key tax compliance deadlines for taxpayers
July is an important month for taxpayers, with several tax compliance deadlines falling during the month. Missing these due dates could result in late fees, interest and other penalties. Whether you are a salaried employee, business owner or employer, staying on top of these deadlines can help avoid last-minute hassles and ensure timely compliance.
Hopes of lasting peace ease concerns over Strait of Hormuz
Oil has erased all the gains recorded since the US and Israel first launched attacks on Iran at the end of February. Before the conflict, around one-fifth of the world's crude oil and liquefied natural gas shipments passed through the Strait of Hormuz. The resumption of negotiations has raised hopes for a more durable peace agreement and the full reopening of the strategically important shipping route.
Oil pares early gains after US-Iran ceasefire agreement
Crude oil prices trimmed early gains after the US and Iran agreed to halt attacks following weekend flare-ups that saw a supertanker struck near the Strait of Hormuz. Brent crude traded near $72 a barrel after rising as much as 1.9% earlier, while West Texas Intermediate remained below $70. According to a US official, both sides have agreed to stand down for now, allowing vessels to move freely before peace talks resume later this week.
Gold slips as geopolitical tensions show signs of easing
Gold prices declined to near $4,000 an ounce as signs of easing geopolitical tensions weighed on demand for the safe-haven asset. Spot gold fell as much as 0.9% after rising 1.6% on Friday. The decline came after the US and Iran exchanged attacks in the Persian Gulf, straining a ceasefire that had previously helped energy prices retreat to pre-war levels. Meanwhile, oil prices remained supported after a tanker carrying Qatari crude was hit during the latest exchange of attacks, briefly disrupting shipping through the Strait of Hormuz.
Good morning and welcome to Moneycontrol's Business Live Blog
Good morning and welcome to Moneycontrol's Business Live Blog. Stay with us for the latest updates on crude oil and gold prices, markets, the economy, corporate actions, dividends, Q1 earnings, IPOs, income tax compliance and other key business developments shaping the day.