Sensex, Nifty scale new peaks on global cues After a brief pause, markets continued their record-setting spree today with benchmark Sensex climbing about 136 points to new closing peak of 31,273.29 and Nifty gaining 37.40 points to 9,653.50 on a flurry of buying, tracking upbeat global cues. Besides, strong sales…
Narayana Murthy comes up with ways to tackle IT layoffs Infosys co-founder N R Narayana Murthy has said that it was possible to check rising number of job losses in India’s IT sector provided major players adopted some crucial changes in their structure. “It is possible to protect jobs if senior executives…
Kingfisher House auction fails for 5th time Lenders’ attempt today to auction Kingfisher House, the erstwhile headquarters of Vijay Mallya- owned, now defunct Kingfisher Airlines, proved to be a damp- squib for the fifth time, despite cut in the reserve price. The 17-lender consortium led by State Bank of India…
Nestle launches iron fortified Maggi noodles FMCG major Nestle India today launched iron fortified Maggi noodles aimed at iron deficient (anaemic) people in the country. As per the 2015-16 National Family Health Survey, 53 per cent females and 22.7 per male between 15 and 45 years age group suffer from iron deficiency…
Cess to yield Rs 55,000 cr in first 9 months of GST rollout The Centre expects to mop up as much as Rs 55,000 crore by levy of cess, including a big chunk from demerit and luxury goods, during the 9-month period of the current fiscal after the Goods and Services Tax (GST) is rolled out from July 1. The amount to be…
ICICI Bank CEO Kochhar draws Rs 7.85 crore in FY17, Rs 2.18 lakh per day Chanda Kochhar, the head of country’s largest private sector lender ICICI Bank, has drawn Rs 7.85 crore as total remuneration in 2016-17, a jump of over nearly 64 per cent from a year ago. ICICI Bank MD & CEO Chanda Kochhar’s basic…
Sensex zooms 472 pts to hit record high of 30,774 ; Nifty tops 9,500 Benchmark Sensex zoomed 472 points to a fresh lifetime high of 30,774.14 in pre-close trade today, led by a rally in capital goods, banking, IT, realty and auto counters. The 30-share index broke its previous record of 30,712.35 (intra-day) reached on…
Gold falls below Rs 29,000 on weak global cues, low demand Gold prices plunged Rs 235 to Rs 28,915 per 10 grams at the bullion market today amid a weak trend overseas and fall in demand from local jewellers. However, silver remained in demand and advanced by Rs 315 to Rs 39,815 per kg. Traders said apart from a weak…
Framework under NPA ordinance by RBI may be out within 15 days The Reserve Bank is likely to announce within a fortnight the guidelines to operationalise NPA ordinance so as to expedite the recovery of bad loans which have crossed Rs 8 lakh crore. The framework would include creation of a separate cell to identify…
GST council finalises tax on services; exempts education, healthcare The all-powerful GST Council today finalised tax rates for services under the Goods and Service Tax (GST) regime, scheduled to kick-in from July 1. Healthcare and education would be exempt from GST. Kerala Finance Minister Thomas Issac said there will…