Moneycontrol Selects: Top stories this evening

Here are the most interesting articles this evening (Representative image)

Here are the top stories this evening:

ITC Q1 profit jumps 33% to Rs 4,462 crore; revenue rises 39%

Diversified conglomerate ITC on August 1 said its net profit on a consolidated basis for the quarter ended June 2022 (Q1FY23) came in at Rs 4,462.25 crore, up 33.46 percent against Rs 3,343.44 crore registered in the corresponding quarter of the previous fiscal.

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5G spectrum auction concludes, 71% sold, says Ashwini Vaishnaw

India’s biggest ever auction of airwaves ended on August 1, with spectrum worth Rs 1,50,173 crore being sold, sources said. The auction that stretched into seven days ended this afternoon, the sources with direct knowledge of the matter said.

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In 1st month of post-compensation era, most states see over 14% GST revenue growth 

Most states and Union Territories (UTs) recorded more than 14 percent growth in their Goods and Services Tax (GST) revenues in July - the first month of the post-compensation era - data released on August 1 by the finance ministry showed. As per the law, states were guaranteed 14 percent growth in their GST revenues every year for the first five years of the indirect tax regime, with any shortfall to be made up from the compensation cess fund.

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Maruti Suzuki India sales up 8.28% to 1,75,916 units in July

Maruti Suzuki India Ltd on Monday reported an 8.28 percent increase in total sales to 1,75,916 units in July 2022. The company had sold a total of 1,62,462 units in the same month last year, Maruti Suzuki India Ltd (MSIL) said in a regulatory filing.

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Tata Motors July sales rises over 51% to 81,790 units

Tata Motors on Monday reported a 51.12 percent increase in total sales at 81,790 units in July 2022, driven by the strong performance of its passenger vehicles in the domestic market. The company had sold a total of 54,119 units in domestic and international markets in July last year, Tata Motors said in a statement.

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Sensex up 545 points, Nifty above 17,300; autos, banks in top gear

Indian equity benchmarks continued to make smart gains for the fourth day on August 1 on positive global cues, improved June quarter earnings, and encouraging auto sales data. The second-highest goods and services mop-up in and improved manufacturing activity in July also spurred the market.

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PhonePe alleges mass burning of QR codes by Paytm employees

Unified Payments Interface (UPI) leader PhonePe has approached police authorities against employees of competitor Paytm, alleging that some officials burnt PhonePe's QR codes. The incident is said to have taken place in Greater Noida and the company has approached Surajpur Lakhnawali police station, said a PhonePe spokesperson.

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