Silver at all time high, selling at ₹85,700 per kg: Jio collects ₹3000 crore for spectrum auction, windfall tax on crude oil reduced

Yesterday’s big news was related to the prices of gold and silver. Gold and silver have seen gains on May 16. According to the website of India Bullion and Jewelers Association (IBJA), 10 grams of gold became costlier by Rs 541 to Rs 73,475 during trading. Silver has made its new all-time high today. It became costlier by Rs 1,195 and reached Rs 85,700 per kg. At the same time, Reliance Jio has deposited Rs 3,000 crore as Earnest Money Deposit (EMD) for the 5G spectrum auction, which is 3 times more than Bharti Airtel Limited, among the top-3 telecom companies, and Vodafone Idea (Vi). It is 10 times more. Before tomorrow’s big news, today’s major events, which will be kept an eye on… Now read tomorrow’s big news… 1. Silver reached all time high: It was being sold at Rs 85,700 per kg, gold again at Rs 73,500. Gold and silver have seen gains on 16th May. According to the website of India Bullion and Jewelers Association (IBJA), 10 grams of gold became costlier by Rs 541 to Rs 73,475 during trading. Silver has made its new all-time high today. It became costlier by Rs 1,195 and reached Rs 85,700 per kg. The all-time high of gold is Rs 73,596, which was made last month on April 19. Click here to read full news… 2. Jio collected ₹ 3000 crore for spectrum auction: This is 3 times more than Airtel and 10 times more than VI, DoT expects to get ₹ 10,000 crore Reliance Jio collected 5G spectrum auction For this, Rs 3,000 crore has been deposited as Earnest Money Deposit (EMD), which is 3 times more than Bharti Airtel Limited, included in the top-3 telecom companies, and 10 times more than Vodafone Idea (Vi). According to the Department of Telecom (DoT), Bharti Airtel deposited Rs 1,050 crore and Vodafone Idea (Vi) deposited Rs 300 crore. Spectrum rights will be given in the auction for 20 years. Companies will have to pay in installments every year. Click here to read the full news… 3. Government reduced windfall tax on crude oil from today: From ₹ 8,400 to ₹ 5,700 per metric ton, exemption on diesel, petrol and ATF remains intact. Government increased domestic production. Special Additional Excise Duty (SAED), i.e. windfall tax, on the export of crude oil has been reduced. In its regular review, the government has reduced the windfall tax from Rs 8,400 per metric tonne to Rs 5,700 per metric tonne. This change has come into effect from today i.e. 16th May. The government reviews windfall tax every 15 days. Click here to read the full news… 4. Stock-broker told the Finance Minister – Government is my ‘sleeping partner’: takes away my investment and entire profit; Nirmala said – I do not have the answer to this. A stock broker asked a question to Finance Minister Nirmala Sitharaman, ‘I am investing everything, taking risks, and the Government of India is taking my entire profit. The government has become my sleeping partner and I am my working partner with my finances. What do you think on this? On these questions of the stock broker, the Finance Minister first said that he had no answer. Then he laughed and said, ‘A sleeping partner cannot sit here and answer.’ This witty reply of the Finance Minister is now being criticized on social media. Click here to read full news… 5. HAL’s fourth-quarter profit increased by 52% to ₹ 4,308 crore: Income increased by 18% year-on-year, company’s shares gave 195% return in one year. Hindustan Aeronautics Limited i.e. HAL’s profit in the fourth quarter (January-March) of FY 2024 increased by 52% on an annual basis (YoY) to ₹ 4,308 crore. The company’s consolidated net profit in the same quarter a year ago was ₹2,831 crore. HAL has released its fourth quarter and annual results today i.e. on 16th May. After the results, HAL shares closed at ₹4,637.90, up by about 11%. It has given 195.98% returns in the last one year. The market cap of the company is Rs 3.08 lakh crore. Click here to read the full news… 6. Mahindra’s fourth quarter profit increased by 32% to ₹ 2,038 crore: Income was ₹ 25,109 crore, the company will pay a dividend of ₹ 21.10 per share. Automobile company Mahindra & Mahindra’s financial year 2023- Profit in 4Q24 (January-March) increased 31.5% year-on-year to ₹2,038 crore. The company had made a profit of ₹1,549 crore in the same quarter a year ago. The company’s revenue from operations increased by 11.2% to ₹ 25,109 crore. Whereas in the same period last year it was ₹22,571 crore. The company has also announced a final dividend of Rs 21.10 for the financial year 2024. Click here to read full news… 7. Shadow Edition of BMW ) Shadow Edition of X3 xDrive 20d MSport has been launched. The company has kept its price at Rs 74.90 lakh (ex-showroom). You can book it from the official website and dealership. The biggest feature of this car in the luxury mid-size SUV segment is that it accelerates from 0-100 km per hour in 7.9 seconds. Its top speed is 213 km per hour. The exterior of the special edition of BMW X3 has many specialties. It includes a blacked out kidney grille, high-gloss black taillamps and high-gloss black window graphics, roof rails and kidney frame and bar. The SUV rides on 19-inch Y-spoke style 887M alloy wheels. Click here to read the full news… Also see who were the top 10 richest people in the world yesterday… Know the condition of tomorrow’s share market and gold and silver… Petrol-diesel and gas cylinder prices. Know the latest price…

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