Business

Sensex bounces 107 pts on exports growth, Nifty above 9,600

June 16: The BSE Sensex rebounded 107 points and the NSE Nifty reclaimed the 9,600-mark today, propelled by the exports growth in May amid mixed Asian cues.

Petrol and diesel prices set to change daily, here’s how to keep track

June 16: The BPCL has initiated the process of changing petrol and diesel prices on a daily basis as of today, claiming that the move will bring transparency to the fuel supply chain as the prices of fuel will shift on a daily basis.

Singapore Airlines subsidiaries look to expand India presence

June 16: Tigerair and Scoot, the no-frills subsidiaries of Singapore Airlines that will merge by July-end, are looking at expanding its footprints in India by tapping international travellers from Tier-2 cities and secondary markets in the country.

RBI net purchaser of dollar in April; buys USD 566 mn

Business 13: The Reserve Bank continued to remain net buyer of the US currency in April after it bought USD 566 million from the spot market.

’18% GST on sub-Rs 100 movie tickets won’t help industry’

June 13: The GST rate of 18 per cent tax on cinema tickets below Rs 100 under is too little a relief and this is not enough to spur growth, according to multiplex operators.

SpiceJet to launch flights under UDAN scheme from July 10

June 13: No-frills carrier SpiceJet on Monday announced the launch of its UDAN routes connecting Mumbai with Porbander and Kandla from July 10.

Inflation at record low of 2.18%; factory output slows to 3.1%

June 13: India’s retail inflation fell to a five-year low at 2.18% in May, backed by deflation in food and vegetable prices, and industrial production output slowed to 3.1% year-on-year in April due to manufacturing.

Reliance General plans IPO in FY18

June 13: Reliance General Insurance Company (RGI), a 100% subsidiary of Reliance Capital, has approved a proposal to independently list the company on stock exchanges.

PSB stressed assets at Rs 7.4 L cr

June 13: As the total stressed assets of public sector banks zoomed to Rs 7.40 lakh crore in 2016-17 from Rs 6.99 lakh crore in the previous year

Paytm Mall plans to be a pure-play marketplace

June 13: Paytm Mall, the ecommerce platform of One97 Communications, will be a pure-play marketplace where sellers and logistics companies hold the major say. It will not set up its own warehouses, which are capital intensive.

Flipkart closes global sourcing platform for Indian sellers

June 13: As part of its plans of focusing on core business, ecommerce marketplace Flipkart on Monday decided to shut down global sourcing platform for sellers called Flipkart Global.

Apple, Dell join bid for Toshiba’s chip biz

June 13: Apple and computing giant Dell will join a Foxconn-led consortium bidding for Toshiba Corp’s highly prized chip unit, the CEO of the world’s largest contract electronics manufacturer said on Monday.

QIP credit positive for SBI, says Moody’s

June 13: The Rs 15,000 crore fund-raising by the country’s largest lender SBI is credit positive for the bank andwill eliminate its dependence on capital infusion from the government, Moody’s said on Monday.

SBI cuts interest rate on home loans twice in two months

The State Bank of India (SBI) on Friday announced reduction in home loan interest rates by 10 basis points (bps) for...

Trump’s policies could have adverse impact on business: Wipro

IT major Wipro Ltd has listed US President Donald Trump’s policies as a risk factor that could impact....

New Hyundai Xcent 1.2L diesel review: A compact sedan with a much-needed makeover

It’s all about packaging these days; not just about what you sell, but how you sell it. In its latest avatar, the Hyundai Xcent focus...

Indian IT companies got over 5,000 fewer H-1B visas in 2016: Report

Top seven India-based outsourcing companies in the US received fewer H-1B visas in 2016 as compared to 2015, and....

Note ban hit high-end housing but low-cost homes gain: National Housing Bank chief

The government’s demonetisation drive in November last year slowed India’s fast-growing real estate...

No downturn in IT sector, reports are wrong, jobs will come: Ravi Shankar Prasad

Union minister Ravi Shankar Prasad on Sunday dismissed the reports of a downturn in the Indian IT sector...

Reports of job losses overstated, to hire 20K this yr: Infosys

June 3: IT services major Infosys today said it will hire 20,000 people this year as against only 400 people being asked to leave on performance grounds and termed reports of large-scale job losses as "overstated".

Economic turnaround in Q1 itself: Panagariya

June 3: Seeking to allay fears of a slowdown, NITI Ayog vice chairman Arvind Pangariya on Friday said that the economy would turnaround during the April-June quarter itself and India could be back on the 8% growth track by 2019.

RCom gets 7-month reprieve to repay debt burden

June 3: In a big relief to the debt-ridden Reliance Communications (RCom), bankers have agreed to pause debt repayments from the company for seven months till December 2017, under the RBI’s Strategic Debt Restructuring (SDR) plan.

Mercedes strengthens E-Class range in India with new E 220 d

June 3: German luxury car maker Mercedes-Benz on Friday added yet another luxury sedan to its E-Class portfolio in India, when it drove in the first long wheelbase right-hand drive E-Class 220 d.

Sebi forms corporate governance committee

June 3: Market regulator Securities and Exchange Board of India (Sebi) has set up a committee under the chairmanship of Kotak Mahindra Bank executive vice chairman and managing director Uday Kotak to advise on issues relating to corporate governance.

The move will cut company’s debt by 60%

June 3: Looking to allay fears of a slowdown, Niti Aayog vice chairman Arvind Pangariya on Friday said the economy would turnaround during the April-June quarter itself, and India could be back on the 8% growth track by 2019.

Avaya sells networking business to Extreme Networks for $100 m

June 3: Avaya, the US-headquartered communications solutions provider, on Friday confirmed that it has exited the networking business by selling it to Extreme Networks for around $100 million. Avaya has a sizeable presence in India.

Essar Projects commissions 4 offshore platforms for ONGC

June 3:Essar Projects India (EPIL), an engineering, procurement and construction (EPC) contractor, has announced the successful commissioning of four offshore well platforms for its client ONGC.

Markets hit new closing highs

June 3: Aided by positive global cues and hopes of a likely rate cut by the Reserve Bank of India in its policy review next week, bulls staged a comeback and helped Indian markets scale new highs once again.

SBI to fund 100 MW rooftop solar projects

June 3: State Bank of India (SBI) on Friday announced financing of 100 MW rooftop solar projects worth Rs 400 crore for private developers under a World Bank programme.

BEL plans R&D spend of Rs 2,500 crore

June 1: Public sector defence major Bharat Electronics (BEL) has drawn up an ambitious three-year R&D roadmap for 2017-20.

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