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LIC hikes stake in Infosys to 6.7%; buys share worth Rs 1, 200 crore

Thursday, 25 Jul 2013 | PTI | New Delhi

State-run Life Insurance Corporation of India (LIC) has shored up its stake in Infosys to 6.72 per cent, with an estimated purchase of shares worth over Rs 1,200 crore during April-June quarter. While the exact date of share purchases by LIC could not be ascertained, Infosys towards the end of quarter...

Holcim to increase stake in Ambuja Cements to 61.39%

Thursday, 25 Jul 2013 | PNS | New Delhi

Swiss cement maker Holcim on Wednesday said it will increase stake in Ambuja Cements Ltd from 50 per cent to 61.39 per cent as part of restructuring its Indian operations. The deal also involves Ambuja Cements buying Holcim’s 50.01 per cent stake in ACC. While both Ambuja and ACC will continue...

Maruti SX4, Toyota Corolla Altis to attract 27% excise duty

Thursday, 25 Jul 2013 | PNS | New Delhi

In a big relief to car manufacturers, the Revenue Department on Wednesday clarified that Maruti SX4 and Toyota Corolla Altis will attract lower excise duty of 27 per cent and not 30 per cent prescribed for SUVs. The clarification issued by the Central Board of Excise and Customs (CBEC) has laid...

General Motors India recalls 1.14 lakh units of Tavera

Thursday, 25 Jul 2013 | PNS | New Delhi

General Motors India on Wednesday entered the league of companies like Toyota, Honda, Ford, Nissan and others, who have recalled their products due to some defects. In one of the largest vehicle recalls in India the company on Wednesday said it is recalling 1.14 lakh units of its multi-purpose vehicle Chevrolet...

Dabur to ride on expansions and new launches

Thursday, 25 Jul 2013 | Anchal Kakroo | New Delhi

Country's one of the premier FMCG company, Dabur India, started the financial year with good quarter first results on Wednesday. In Q1 FY14, company's consolidated net sales grew by 13 per cent to Rs 1651.1 crore while net profit for April June quarter stood at Rs 187.04 crore, registered a...

The game of numbers: Poverty in rural areas declined at double pace

Thursday, 25 Jul 2013 | SEEMA SINDHU | New Delhi

The phoenix of poverty line may haunt the UPA Government again as the Planning Commission released the new figures based on the old formula of Suresh Tendulkar, yet Congress can find solace in one fact that its much criticized expenditure on rural schemes has paid well and this...

NCP disagrees with Plan panel's poverty estimates

Thursday, 25 Jul 2013 | PNS | New Delhi

Heavy Industries Minister and senior Nationalist Congress Party (NCP, a key ally of the UPA) leader Praful Patel on Wednesday raised doubts on the Planning Commission's poverty estimates for 2011-12, saying that they are based on “totally wrong” benchmark of per capita daily expenditure of Rs 33.33 for cities and...

Praful Patel writes to FM seeking extra 5% duty on imported power equipments

Thursday, 25 Jul 2013 | PNS | New Delhi

Looking to protect the interests of the beleaguered power equipment players from the onslaught of cheaper products from China, the Heavy Industries Ministry has sought an additional levy of 5 per cent on imported power. The latest move comes against the backdrop of local power equipment makers, including state-run Bhel, facing...

Coming soon, 5-kg LPG refill to be sold at select petrol pumps in metros

Thursday, 25 Jul 2013 | PNS | New Delhi

In what would come as a relief to millions of cooking gas users, especially those who don't have a permanent connection and rely on small refill cylinders for their regular requirements, the Government has approved a scheme wherein 5-kg cylinders would now be available for sale at select petrol pumps...

China slowdown could hit India's growth prospect: Nomura

Thursday, 25 Jul 2013 | PNS | New Delhi

The slowdown in China's economy could bring down India's economic growth to 5.2 per cent from the earlier projection of 5.5 per cent for 2014 on weak external demand, says a Nomura report. According to Nomura, a global brokerage firm, the slowdown in China could, however, help India contain its inflation...


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Sena ups ante, stages protests against hike in fuel prices

24 Sep 2017 | TN RAGHUNATHA | Mumbai

In a clear indication of an irreconcilable rift between it and its senior alliance partner BJP, the Shiv Sena on Saturday staged simultaneous protests at 12 places across the metropolis against the hike in prices of fuel, essential commodities and domestic gas cylinders. Amid intense speculation that Sena president Uddhav Thackeray — during his Dussehra rally to be held next week — might announce withdrawal of his party’s support to the...

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CM: Foundation for Patratu plant soon

24 Sep 2017 | PNS | Ranchi

Chief Minister Raghubar Das on Saturday said that the foundation for new power plant at Patratu — a joint venture of Jharkhand Government and National Thermal Power Corruption (NTPC) will be laid soon. During a meeting with NTPC Chairman Gurdeep Singh here on Thursday CM said that the plant will not only fill the energy gap in State but will also be able to supply power to other States...

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