Business

Rajiv Kumar is new Financial Services secy

September 1: Rajiv Kumar, Special Secretary and Establishment Officer in the Department of Financial Services was on Thursday appointed as its Secretary.

Myntra brands turn profitable

September 1: Ahead of its target to turn profitable by Q4 FY18, Flipkart-owned online retailer Myntra’s in-house brands portfolio Myntra Fashion Brands (MFB) has turned profitable registering a positive EBITDA of 5% in June this year.

Problems galore even after two months of GST

September 1: The Goods and Services Tax (GST) roll out completes two months on Thursday but certain issues are still troubling the common man and traders.

FY18 challenging for Indian banks: Icra

September 1: Terming FY18 as a “challenging” year for Indian banking, domestic rating agency Icra on Thursday said newer segments like MSMEs and farmers are also reporting stress, and NPAs for listed banks will shoot up to 10.2% by FY18-end.

Continuous criticism led to Sikka’s exit

August 19: Infosys, the iconic IT services company that the silicon valley of India nurtured for the last three decades

Sikka to draw $1 as Executive VC; no severance pay

August 19: Vishal Sikka, the outgoing CEO and MD of Infosys, India’s second largest IT services company, will not be getting any severance package as he has resigned out of his will, sources within the company said.

Infy co-chair changes stance on NRN’s return

August 19: Infosys co-chairman Ravi Venkatesan on Friday changed his stance on offering a role to co-founder N R Narayana Murthy at the company.

Sikka resigns from Infosys

August 19: Three years after he took charge at the $10 billion IT bellweather, Infosys, Vishal Sikka on Friday resigned as CEO & Managing Director.

Pained over charges, says Murthy

August 19: Infosys co-founder N R Narayana Murthy on Friday said he was extremely anguished by the charges, and tone and tenor of the statements made by the company’s board.

IndiGo market share descends

August 19: Rescheduling of services due to grounding of its eight A320neo planes appears to have an effect on IndiGo’s market share with latest figures showing a fall in July, the lowest for any month this year.

Infy announces buyback worth Rs 13,000 cr at price of Rs 1,150 per share

August 19: The board of India’s second-largest IT company Infosys on Saturday approved buyback worth Rs 13,000 crore

NPA resolution: RBI chief calls for recapitalisation of banks

August 19: Reserve Bank Governor Urjit Patel today called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bound manner as bad loans at 9.6 per cent of the system is not acceptable.

NPA resolution not to liquidate cos, but to help save them: FM

August 19: Assuring balance-sheet stressed firms that key objective of NPA resolution is not liquidation of their businesses but to save them

Bankruptcy code can help deepen bond markets: Tyagi

August 19: Capital markets regulator Sebi chairman Ajay Tyagi today expressed hope that the Insolvency and Bankruptcy Code (IBC)

Flipkart Big Freedom Sale today

August 9: Flipkart’s Big Freedom Sale, to celebrate the Indian Independence Day will begin from midnight of August 9 and go up to August 11.

Tata Steel bullish on domestic steel sector, to up production

August 9: Steel major Tata Steel on Tuesday said it is optimistic about prospects of the domestic steel sector, and hopes to ramp up the production capacity of its Kalinganagar plant to capture growing opportunities.

Bajaj Auto inks partnership with UK’s Triumph

August 9: In a development that would change competition in the motorcycle manufacturing sector, India’s second largest manufacturer Bajaj Auto has inked a deal with with iconic British brand Triumph Motorcycles

Titan enters US through Amazon

August 9: Ecommerce giant Amazon on Tuesday announced its partnership with iconic homegrown lifestyle brand Titan to help it foray into the US market through its Global Selling Programme.

GST to help improve credit flow to small traders, says Nilekani

August 9: The roll-out of the goods and services tax (GST) is expected to increase the credit granted to small traders, according to the former Unique Identification Authority of India (UIDAI) Chairman Nandan Nilekani.

Carmakers unhappy with hike in cess

August 9: As the government hiked cess on luxury cars and SUVs, it led the industry towards a flutter of confusion

States upset about frequent GST rate revision

August 9: Frequent changes in rates of goods by the GST Council has upset many states, which have demanded that Finance Minister Arun Jaitley give them time to discuss revenue implications before revising GST levies.

Puravankara net profit up 116% in Q1

August 9: Property developer Puravankara Ltd on Tuesday reported 116% rise in net profit at Rs 17 crore for the quarter ended June 30, 2017 compared with Rs 8 crore in the year ago quarter.

Brigade Q1 net profit up 32% at Rs 29 crore

August 9: Property developer Brigade Enterprises on Tuesday reported 32% jump in consolidated net profit at Rs 29 crore for the first quarter ended June 30, 2017 compared with Rs 22 crore in the corresponding period last year.

Amazon, Flipkart begin Independence Day sales, deals ahoy

August 9: High on the heels of the 70th Independence Day of India, Amazon has begun its Great Indian sale today

Alibaba-backed Paytm will launch a messaging service to take on Facebook’s WhatsApp by the end of the month, according to company sources.

August 2: Paytm - which counts Japanese conglomerate Softbank as one of its investors - will integrate a new feature on its platform that will allow users to chat and exchange audio, pictures and videos, two people aware of the development said.

Post GST price cuts, auto makers report strong sales in July

August 2: Major automobile makers today reported robust sales growth across segments driven by price reductions and restocking of vehicles at dealerships post GST implementation.

Rupee rallies 12 paise to 2-1/2 mth high on RBI rate cut hopes

August 2: The rupee racked up strong gains to end at a fresh two-and-a-half month high of 64.07 against the US currency

SoftBank mulls $2 b investment in Flipkart

August 2: Japanese technology and investment conglomerate SoftBank is planning to infuse about $2 billion in the Bengaluru-based online retailer Flipkart.

Indices at new peak, all eyes on RBI move today

August 2: Indian markets continued their record breaking spree with both the benchmark indices ending at new highs on Tuesday ahead of the outcome of the monetary policy committee meeting on Tuesday.

JSW Steel Q1 net slips 43% to Rs 624 cr

August 2: JSW Steel has posted a 43% decline in consolidated net profit for the quarter ended June 30, 2017 at Rs 624 crore compared with Rs 1,096 crore in the same quarter previous fiscal.

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