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Tata Motors to pump in Rs 4k cr this fiscal to launch products

Tuesday, 22 Aug 2017 | PTI | Mumbai

Homegrown auto major Tata Motors on Monday said it will invest Rs 4,000 crore in the current fiscal to bring new passenger and commercial vehicles to the market as part of its turnaround strategy. The company also expects to save over Rs 1,500 crore and add to the bottom line in...

Speculation over my future in Tata Motors annoying: Butschek

Tuesday, 22 Aug 2017 | PNS | Mumbai

Terming speculations over his future as Tata Motors MD and CEO in the wake of the changed leadership in Tata Sons as “annoying”, Guenter Butschek on Monday said he was hired purely on professional merit and not personal loyalty. Butschek, the Airbus former COO, was appointed to lead the home-grown auto...

Infy chairman, co-chair must step down before CEO search: Bala

Tuesday, 22 Aug 2017 | PTI | New Delhi

Infosys former CFO V Balakrishnan on Moday asserted that Chairman R Seshasayee and Co-chair Ravi Venkatesan must step down as part of a board rejig before the country's second-largest IT firm kicks off search for a new CEO. Balakrishnan, whose views mirror those of co-founder N R Narayana Murthy, said heads...

Infosys pulls down Sensex

Tuesday, 22 Aug 2017 | PNS | Mumbai

Though stocks tried to come out of the Infosys jolt, ultimately could not as the Sensex lost 266 points and the Nifty cracked below 9,800 at the close amid a lower opening in Europe. The IT sector as a whole faced the backlash of Vishal Sikka’s surprise resignation as Infosys CEO....

Govt gets Rs 42K cr tax so far in first filing under GST

Tuesday, 22 Aug 2017 | PNS | New Delhi

As much as Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) regime and the revenues are expected to swell further as the filing cycle closes this later this week. A senior official said that about...

Rosneft: EOL deal bans Ruias from re-entering oil refining, retailing for ever

Tuesday, 22 Aug 2017 | PTI | Mumbai

Asserting that only commercial considerations were the sole driving factor behind the $12.9 billion acquisition of Essar Oil, Rosneft, the new owners of the country’s second largest oil refinery, said they have a non-compete pact under which the Ruias will never be able to re-enter the oil refining and retailing...

Sebi to chart out long term cyber security plans for markets

Monday, 21 Aug 2017 | PTI | New Delhi

Sebi will deliberate with its board members next month on putting in place a long term cyber security framework for markets amid concerns over malicious software script targeting systems and possible data breaches. With technology-based platforms and high speed algorithmic systems becoming key fulcrums for trading activities, the regulatory focus is...

M&M tries out options to regain grip in utility vehicle space

Monday, 21 Aug 2017 | PTI | New Delhi

Mahindra and Mahindra (M&M) is back to the drawing board working on a slew of measures, including new launches and better product positioning, in its bid to regain lost ground in the utility vehicle segment. For the Mumbai-based auto major, the sales push includes launch of an all-new multi purpose vehicle...

Defaulters owe 27% of total amount to SBI alone, PNB next

Monday, 21 Aug 2017 | PTI | New Delhi

Country’s largest lender SBI accounts for over 27 per cent of the total amount owed to public sector banks by wilful defaulters. As many as 1,762 wilful defaulters owed Rs 25,104 crore to State Bank of India as on March 31, putting pressure on its balance sheet. Punjab National Bank (PNB) is...

Hike in upfront payment in tax disputes harsh: Experts

Monday, 21 Aug 2017 | PTI | New Delhi

The CBDT’s decision to increase upfront payment to 20 per cent of the disputed tax demand before the disposal of appeal at the level of Commissioner is harsh on taxpayers, although it will reduce frivolous cases, say experts. In a case where the outstanding demand is disputed before Commissioner of Income...


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Prez’s arts council quits over Trump’s Virginia remarks

20 Aug 2017 | AFP | Washington

The entire President’s Committee on the Arts and the Humanities, that includes Indian-Americans Jhumpa Lahiri and Kal Penn, has resigned over President Donald Trump’s controversial remarks after the racist violence in Virginia. In a letter signed by 16 of 17 committee members, including author Lahiri and actor Penn, Trump’s decision to withdraw from the Paris Agreement on climate change has also been cited as a reason for their resignation...

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Development work in healthy pace in Rewa Mega Ultra Solar Plant

22 Aug 2017 | Staff Reporter | Bhopal

Development work of Rewa Mega Ultra Solar Plant project is moving at a healthy pace as developers have been provided with the requisite Facilities, said Principal Secretary of New and Renewable Energy Manu Shrivastava at the first consultation meeting on August 18 at Rewa Mega Ultra Solar Limited Bhopal. In the meeting Shrivastava discussed with the developers on providing of 90 per cent land for development, establishment of around 60-70 per cent...

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