Business

Nine out of 21 PSBs reported losses in FY17

July 18: Nine of the 21 public sector banks, including IDBI Bank and Indian Overseas Bank, reported losses during 2016-17

McDonald’s exploring legal option post-NCLT verdict on Bakshi

July 15: Fast food major McDonald’s today said it is exploring legal options after the NCLT restored its estranged partner Vikram Bakshi as the Managing Director of Connaught Plaza Restaurants Ltd (CPRL).

Infosys CFO MD Ranganath to move to the US

July 15: IT services major Infosys will relocate its Chief Financial Officer M D Ranganath to the US - its largest market - and has also revised his compensation package.

Broadband in 2.5 lakh gram panchayats by 2018

July 15: In line with Digital India initiative of Prime Minister Narendra Modi, the Bharat Sanchar Nigam Limited (BSNL) on Friday introduced state of art 100G Optical Transport Network (NG-OTN) across India for providing Super Express Highways.

YES Bank to increase lending to SMEs

 

July 15: YES Bank has teamed up with the Overseas Private Investment Corporation (OPIC), the US Government’s Development Finance Institution, and Wells Fargo on an agreement to increase lending to small and medium enterprises (SMEs) in India.

Sebi amends debenture trustee regulations

July 15: Markets regulator Sebi has put in place new regulations for debenture trustees, wherein an entity will not be prohibited from acting as a trustee if the government provides guarantees for the debenture issued.

Listed PSUs get time till Aug ’18 to meet public holding norm

July 15: The government has extended the deadline for listed PSUs to achieve the minimum 25% public shareholding norm by a year to August 2018, a finance ministry order said.

Cabinet may consider new hydro power policy this month

July 15: The Ministry of Power’s new hydro power policy, aimed to boost the green energy generation as well as revive some of the stalled hydel power projects, is likely to come up for approval in the Union Cabinet this month.

Vedanta in sweet spot, to scale up output, says Agarwal

July 15: Diversified natural resources company Vedanta finds itself in a “sweet spot”, enthused by reforms such as GST

Travel industry fears post-GST jitters

July 15: The Goods and Services Tax (GST) regime, which was introduced a fortnight ago, has put the travel industry in a tizzy — with some players stating that it would result in domestic and inbound travel becoming expensive.

WPI inflation falls below 1% in June

July 15: After a multi-year low retail price inflation, India’s wholesale price inflation eased 0.9% in June, driven by softening food prices.

Tata Sons appoints Aarthi Subramanian as group chief digital officer

July 14: Tata Sons has announced the appointment of Aarthi Subramanian as the Tata Group’s chief digital officer.

Honda leads in incremental volumes in exports & domestic sales

July 14: The two-wheeler major Honda not only continues to lead incremental volume in domestic sales for the second quarter in a row in Q1,contributing 69 per cent

Nepal to get internet connection from China

July 14: Nepal is likely to get internet connection through Chinese optical fiber from next month, ending India’s monopoly over the online services in the landlocked Himalayan country.

Chris Gayle invests in gaming company IONA Entertainment

July 14: Swashbuckling West Indian opening batsman Chris Gayle has invested an undisclosed amount in IONA Entertainment to bring one-stop entertainment to Indian sports fans, which includes state-of-the-art virtual gaming.

GVK completes sale of residual stake in BIAL

July 14: GVK Power and Infrastructure has completed the sale of its residual 10% stake in Bangalore International Airport Limited (BIAL)

Relief to students: Centre says no GST on hostel fees

July 14: Services extended by educational institutions to students and staff are fully exempt from GST, the government said on Thursday.

TCS Q1 net profit drops 5.9% to Rs 5,945 crore

July 14: Software services major Tata Consultancy Services (TCS) reported a 5.9% decline in net profit for the quarter ended June 30, 2017

Deshpande for pvt participation in R&D

July 14: Large and Medium Industries Minister R V Deshpande on Thursday called for more participation of the private sector companies in the Research and Development (R&D) processes.

Infosys beat market expectations clocks net of Rs 3,483 cr

July 14: Beating the market expectations Bengaluru-based, IT giant Infosys has clocked net profit of Rs 3,483 crore for the quarter ended June 30, 2017

Nifty hits 9,900 mark, Sensex at new high post Infy results

July 14: The benchmark Nifty today raced past the 9,900 milestone for the first time and the Sensex climbed yet another peak 32,110 as Infosys maintained its 2017-18 revenue growth guidance.

No GST on aircraft import, parts on lease

July 10: The government has exempted the import of aircraft, aircraft engines and its parts procured on lease from the purview of the GST.

India to join new global forex committee

July 10: India will soon get a seat on the Global Foreign Exchange Committee (GFXC) — a forum of central bankers and experts working towards promotion of a robust and transparent forex market.

Sensex makes a big start, hits all-time peak at 31,595

July 10: The benchmark Sensex today soared 235 points to hit an all-time high of 31,595 after quarterly corporate earnings optimism gave domestic institutional and retail investors much hope to go in for fresh bets.

No more non-veg meals for Air India’s domestic fliers in economy class

July 10: Air India has stopped serving non-vegetarian meals in economy-class of its domestic flights citing wastage and to improve catering service.

Car, passenger vehicles sales drop 11% in June

July 10: Domestic passenger vehicle sales declined by 11.21 per cent to 198,399 units in June from 223,454 units in the same month last year.

Auto majors announce price cuts post GST

July 7: Auto companies continue to announce price cuts due to the implementation of the GST.

Govt to use GSTN data to assess employment

July 7: Amid lack of employment data and survey reports, the government is planning to mobilise employment figures through the data repository with the Goods and Services Tax Network (GSTN).

IPO financing to see good traction in FY’18

July 7: Helped by robust capital markets, IPO financing is likely to witness healthy traction in the current fiscal year

SEZs exempt from integrated GST

July 7: Providing relief to SEZs, the government has exempted goods imported by units or developers of special economic zones from integrated goods and services tax (IGST).

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