Companies News

CPSUs to spend over Rs 1 lakh crore in FY20, told to clear dues by Oct 15: FM Nirmala Sitharaman

CPSUs to spend over Rs 1 lakh crore in FY20, told to clear dues by Oct 15: FM Nirmala Sitharaman

The FM said that the PSUs have been asked to set up a portal by October 15 to enable service providers, vendors and contractors to track bills and payments so that the liquidity crunch is mitigated.

Sep 28, 2019, 16:48 PM IST
Steel sector not witnessing any major slowdown: SAIL chairman Anil Kumar Chaudhary

Steel sector not witnessing any major slowdown: SAIL chairman Anil Kumar Chaudhary

Commenting on ratings given by different global rating agencies, SAIL chief Anil Kumar Chaudhary remarked that these agencies keep on changing their outlook with the change in circumstances.

Sep 23, 2019, 16:14 PM IST
India's Petronet signs MoU with Tellurian for 5 million tonnes of LNG through equity investment in Driftwood

India's Petronet signs MoU with Tellurian for 5 million tonnes of LNG through equity investment in Driftwood

As per the MoU signed between the two companies, Petronet and its affiliates will negotiate the purchase of up to five million tonnes annually of LNG from Driftwood. 

Sep 22, 2019, 07:03 AM IST
Indigo appoints Pallavi Shardul Shroff as independent woman director

Indigo appoints Pallavi Shardul Shroff as independent woman director

Shroff is the Managing Partner of Shardul Amarchand Mangaldas & Co. with over 37 years of extensive experience.

Sep 20, 2019, 15:57 PM IST
At Rs 1.45K crore, govt's burden for reducing corporate tax is 33% of FY19-20 defense budget

At Rs 1.45K crore, govt's burden for reducing corporate tax is 33% of FY19-20 defense budget

The total estimated expenditure to be born by the government is 33.64 percent of India's total Defense Budget at Rs 4,31,010.79 crore.

Sep 20, 2019, 15:38 PM IST
With no buyback tax, plans of a dozen firms may revive

With no buyback tax, plans of a dozen firms may revive

Announcing yet another set of incentives to boost the economy, Finance Minister Nirmala Sitharaman said that listed companies which have announced buyback before July 5 (the Budget presentation day)

Sep 20, 2019, 15:28 PM IST
How India Inc reacted to FM Nirmala Sitharaman's announcement on corporate tax, MAT rate cuts

How India Inc reacted to FM Nirmala Sitharaman's announcement on corporate tax, MAT rate cuts

The Finance Ministry on Friday announced that corporate tax rates will be slashed to 22 percent for domestic companies and 15 percent for new domestic manufacturing companies.

Sep 20, 2019, 12:54 PM IST
Corporate tax rates slashed to 22% for domestic companies, 15% for new domestic manufacturing companies

Corporate tax rates slashed to 22% for domestic companies, 15% for new domestic manufacturing companies

The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.

Sep 20, 2019, 11:24 AM IST
Amit Shah-led ministerial panel discusses Air India disinvestment issues

Amit Shah-led ministerial panel discusses Air India disinvestment issues

Air India currently has a debt of nearly Rs 60,000 crore which includes long-term loan for aircraft purchase and working capital.

Sep 19, 2019, 16:44 PM IST
Nirav Modi's custody extended by 28 days to October 17

Nirav Modi's custody extended by 28 days to October 17

Nirav Modi is wanted in India in connection with the Rs 13,500 crore Punjab National Bank (PNB) fraud case.

Sep 19, 2019, 14:57 PM IST
FM reminds Biocon chief of govt's fiscal steps on growth revival

FM reminds Biocon chief of govt's fiscal steps on growth revival

To a suggestion by Shaw that Sitharaman should rather announce some fiscal measures to support growth, the Minister responded that she has been speaking about the economic measures taken by he

Sep 19, 2019, 14:27 PM IST
IDBI Bank's board approves preferential issue of Rs 4,557 crore to government, Rs 4,743 crore to LIC

IDBI Bank's board approves preferential issue of Rs 4,557 crore to government, Rs 4,743 crore to LIC

After this infusion, IDBI Bank expects to be able to subsequently raise further capital on its own and expects to come out of RBI`s Prompt Corrective Action (PCA) framework sometime next year.

Sep 19, 2019, 11:34 AM IST
Key GoM meet on Air India to take up 10 major disinvestment issues

Key GoM meet on Air India to take up 10 major disinvestment issues

Employee package, including medical facilities to nearly 40,000 current and retired employees would also be on the agenda for discussion in the crucial meeting.

Sep 18, 2019, 14:40 PM IST
Air India Assets Holdings' Rs 7,000 cr bonds oversubscribed

Air India Assets Holdings' Rs 7,000 cr bonds oversubscribed

The issue was oversubscribed with marquee market players SBI Bank, ICICI Securities, Axis Bank, ICICI Bank and SBI Capital buying it. Rating agency ICRA had given AIAHL bonds a "AAA "rating with

Sep 17, 2019, 11:16 AM IST
Govt nudges Apple Inc to increase Indian operations' scope

Govt nudges Apple Inc to increase Indian operations' scope

Apple has started to export iPhones to some European markets from India, which boosts the government's 'Make in India' and also the company's projection of making India an export hub.

Sep 17, 2019, 10:20 AM IST
Yes Bank promoters seek probe against short sellers hammering the stock

Yes Bank promoters seek probe against short sellers hammering the stock

Yes Capital and Morgan Credit are the promoters of Yes Bank facing heat from investors and stake holders over multiple rating downgrade and stakes in fraud-hit CG power.

Sep 13, 2019, 17:55 PM IST
CAIT writes to Piyush Goyal, says online festival sales violation of FDI policy

CAIT writes to Piyush Goyal, says online festival sales violation of FDI policy

CAIT in its letter said that these online portals are indulging into predatory pricing and deep discounting and are openly flouting FDI norms.

Sep 13, 2019, 17:21 PM IST
Sebi imposes fine of Rs 10 lakh on ICICI Bank, Rs 2 lakh on Sandeep Batra over disclosure lapses

Sebi imposes fine of Rs 10 lakh on ICICI Bank, Rs 2 lakh on Sandeep Batra over disclosure lapses

Sebi said that it is suspected that the delay on the part of ICICI Bank in making the disclosure of the agreement resulted in insider trading in the scrip of BoR.

Sep 13, 2019, 16:01 PM IST
Goldman Sachs sacks India V-P for Rs 38 crore fraud

Goldman Sachs sacks India V-P for Rs 38 crore fraud

The police arrested Jhunjunwala under section 420 of the Indian Penal Code (IPC) on a complaint by the company's Indian subsidiary for reportedly siphoning off funds fraudulently.

Sep 11, 2019, 16:44 PM IST
Tearful Jack Ma bids Alibaba farewell with rock star show

Tearful Jack Ma bids Alibaba farewell with rock star show

A tearful Jack Ma formally left Alibaba on Tuesday, donning a guitar and a rock star wig at an event for thousands of employees of the e-commerce giant he founded 20 years ago in a small shared

Sep 11, 2019, 06:28 AM IST