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Sensex cracks 364 points as GST’s cess-jolt drags ITC stocks nearly 13%

Wednesday, 19 Jul 2017 | PNS | NEW DELHI

After hitting record highs in the previous sessions, bears roared back again on Dalal Street as the Sensex crashed nearly 450 points intraday - the biggest single day fall on the index on Tuesday. The BSE index witnessed this debacle mostly due to ITC whose shares fell nearly 13 per...

Air India CMD tells staff their interests will be safeguarded

Wednesday, 19 Jul 2017 | PTI | New Delhi

Air India CMD Ashwani Lohani on Tuesday assured its employees their interests would be ‘safeguarded’, seeking to allay their concerns over possible layoff following the Government’s decision to sell its stake in the national carrier. In the first formal communication from the debt-laden airline’s top management since the decision to privatise...

‘India’s GDP could rise to about $8 trillion over next 15 years’

Wednesday, 19 Jul 2017 | PTI | United Nations

India’s GDP could rise to about $8 trillion over the next 15 years if the country registers an economic growth of 8 per cent annually and come very close to eliminating abject poverty entirely, NITI Aayog Vice Chairman Arvind Panagariya has said. He said with that level of economic growth, living...

Govt asks RIL, Shell, ONGC to pay $3 bn

Wednesday, 19 Jul 2017 | PTI | New Delhi

The Government has sought about $3 billion from Reliance Industries, Royal Dutch Shell and ONGC following a ‘partial’ arbitration award in its favour over cost recovery in Panna/Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea. The Directorate General of Hydrocarbons (DGH) in May-end had slapped the demand...

Infosys executive vice-president quits

Wednesday, 19 Jul 2017 | PTI | New Delhi

Infosys executive vice-president Ritika Suri, who was focused on getting large deals, has resigned from the company, according to sources. Suri, who led the acquisition of Israeli automation technology firm Panaya for Infosys, was based out of the US. A former executive at SAP, Suri was brought into Infosys by CEO Vishal...

Not possible to isolate note ban impact on GDP: Government

Wednesday, 19 Jul 2017 | PTI | New Delhi

It is not possible to isolate the impact of demonetisation on India’s GDP as economic growth of a country depends on a number of factors, including monetary ones, the government said on Tuesday. Prime Minister Narendra Modi on November 8 last year had announced demonetisation of Rs 1,000 and Rs 500...

UltraTech to set up Rs 2,600 cr new 3.5-mt plant in Dhar

Wednesday, 19 Jul 2017 | PTI | Mumbai

Markets leader UltraTech Cement on Tuesday announced a Rs 2,600-crore new integrated cement plant in Madhya Pradesh with a capacity of 3.5 million tonne per annum, which will increase its capacity to 96.5 mt by FY19. ‘The board has approved a greenfield integrated cement plant at Dhar in Madhya Pradesh with...

Jaitely says no to lowering GST rate for textiles sector

Wednesday, 19 Jul 2017 | PTI | New Delhi

The Government on Tuesday ruled out cutting tax rates for the textiles sector, saying a zero per cent GST on fabrics will break the input tax credit chain for the domestic industry and make imported items cheaper. Amid protests in Gujarat by textile traders who are demanding rollback of 5 per...

18% GST on 5-star, other hotels with tariff less than Rs 7,5K: Govt

Wednesday, 19 Jul 2017 | PTI | NEW DELHI

Hotels, including those with 5- star rating, will attract GST rate of 18 per cent for room tariffs of less than Rs 7,500, the Government clarified on Tuesday. As per the rate structure decided by the GST Council, hotels, guest houses and clubs having room tariff of Rs 1,000 and...

Hindustan Unilever Q1 profit increases 9% to `1,283 crore

Wednesday, 19 Jul 2017 | PTI | NEW DELHI

FMCG major Hindustan Unilever on Tuesday posted an over 9 per cent rise in its standalone net profit at Rs 1,283 crore for the April-June period, while some of its business verticals saw a muted quarter due to ‘destocking’ in view of the GST implementation from July 1. The company...


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Cong to launch protest against Centre, UP Govt next month

16 Jul 2017 | PNS | Lucknow

The Congress would launch a protest campaign both against the Centre as well as UP Government starting from next month. “People are feeling the pinch of unpopular decision of Modi Government like demonetisation, GST etc so now we will raise the people voice by protesting on all the district head-quarters in the State on August 9 on occasion of August Kranti Day”, disclosed chairman of the UPCC media...

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RIMS a total failure on every ground, pronounces PAC

21 Jul 2017 | SANJEEV JHA | Ranchi

In perhaps the most ruthless chidings so far the Rajendra Institute of Medical Sciences (RIMS) had been waiting for, three member of Jharkhand Assembly Public Accounts Committee (PAC) has after its maiden visit to the premier institute on Thursday said that the largest public hospital was a total failure on every counts with nothing in the institute happening the way it was expected to take place. Chaired by JMM MLA Stephen...

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