News I read on 25th June

1) In a relief for taxpayers, the Centre on June 24 extended the deadline for filing income tax returns (original as well as revised) for FY2018-19 to July 31, 2020. The last date for filing income tax returns for FY2019-20 has also been extended to November 30, 2020. Consequently, the date for linking Aadhaar with PAN would also be extended to March 31, 2021.
Ref: Moneycontrol

2) The Competition Commission of India (CCI) on Wednesday approved the acquisition of a 9.99 percent stake in Jio Platforms by Jaadhu Holdings LLC, an indirect wholly-owned subsidiary of Facebook.
Ref: Yahoo News

3) The government has collected about Rs 40,000 crore from excise duty on petrol and diesel in the first two months of the fiscal, or about 16 percent of its full-year target.
Ref: Moneycontrol

4) Indian Oil Corp Ltd, the country’s top refiner, on Wednesday reported its first quarterly loss in more than four years. It registered inventory losses of 146.92 billion rupees, against a gain of 26.55 billion rupees a year earlier.
Ref: Reuters

5) India’s economy is projected to contract by 4.5% following a long period of lockdown and slower recovery than anticipated 1.9% growth in April, the IMF said in its World Economic Outlook Update.
Ref: Livemint

6) The Union government on Wednesday decided to take the Ordinance route to give more powers to the Reserve Bank of India to supervise co-operative banks, akin to commercial banks.
Ref: Business Standard

7) Tata Power on Wednesday said it has got shareholders' approval for raising its authorized share capital by Rs 200 crore to Rs 779 crore.
Ref: Yahoo Finance

8) Micro, Small and Medium Enterprises (MSMEs) looking to avail fresh loans under the government's ambitious ₹3 lakh crore liquidity program for the sector are running into additional costs in the form of stamp duty, a proposition that many of these businesses are finding difficult.
Ref: Livemint

9) Global fund Blackstone on Wednesday raised around USD 300 million (about Rs 2,270 crore) by selling its shares in Embassy Office Parks REIT to monetize part of its investment.
Ref: Yahoo Finance

On Wednesday, NIFTY closed 165.70 points lower at 10,305.30.

VIX rose by 0.78% and closed at 29.57, the usual safe range for VIX is 12 to 20.

SGX Nifty trading 124.15 points lower at 7:45 am, Indian Time.