The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year. Tata Consultancy Services’ contribution to the Tata group’s market capitalisation has declined to a decade low. More on those stories in our top headlines this morning. Tax mop-up likely to top target by Rs 2.5 trillion, say experts

The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic.

It, according to experts, may overshoot the target by Rs 2.5 trillion. Read more

Zee-Invesco battle puts spotlight on corporate governance

The corporate battle between Zee Entertainment Enterprises Ltd (ZEEL) and its largest shareholder, the Atlanta, Georgia-based Invesco fund, has once again put the spotlight back on Indian companies’ transparency and corporate governance norms. In a previous recent corporate war, the Tata group versus Cyrus Mistry, the estranged former group chairman, the Mistry camp accused the Tatas of corporate governance lapses and lack of transparency. Read more

TCS share in Tata group’s combined m-cap falls

Tata Consultancy Services’ (TCS’) contribution to the group market capitalization (m-cap) has declined to a decade low of 58.2 per cent, on the back of a sharp rally in the share prices of other key group companies, such as Tata Steel, Tata Motors, and Tata Power. TCS accounted for 67 per cent of the group m-cap at the end of December 2020 and record 75 per cent at the end of March 2020. Read more

Chennai Super Kings looks set to become India’s first sports unicorn

With its fourth title win of the Indian Premier League (IPL) on Friday, Chennai Super Kings may be all set to become possibly the country’s first ‘sports unicorn’, even surpassing its parent India Cements in market capitalisation, say experts. Read more

India’s e-commerce industry set to grow 84% by 2024, says report

Accelerated by the pandemic, the Indian e-commerce industry is set to grow by 84% to $111 billion by 2024. Similarly, Southeast Asia is on its way to record an annual growth rate of 22%, reaching $146 billion by 2025. Read more

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