Business

Airtel owes around Rs 23,000 crore as licence fee and penalties.

New Delhi: 

Bharti Airtel and Vodafone Idea, among other telecom firms will now have to shell out huge past dues to the Department of Telecom (DoT) following a Supreme Court order on Thursday.

The Supreme Court ordered eight telecom companies including Bharti Airtel and Vodafone Idea to

Details
Category: Business

Write comment (92 Comments)

At the forex market, the rupee opened lower at 71.01 then fell to 71.03 against the greenback.

Mumbai: 

The rupee rose 3 paise to close at 70.91 against the dollar on Wednesday amid lack of triggers and geopolitical uncertainties. Easing crude oil prices propped up the local unit, though fresh capital outflows capped the gains, forex traders said.

Details
Category: Business

Write comment (92 Comments)

Kotak Mahindra Bank expects credit growth for the year ending March above "mid-teen" percentage digits

Mumbai/Bengaluru: 

Two top private-sector lenders on Tuesday signalled stress in their loan books as the banks grapple with the worst economic slowdown in years that has increased bad loans across the sector.

Kotak Mahindra Bank, the country's

Details
Category: Business

Write comment (93 Comments)

MTNL rose to as much as Rs 610 apiece on the NSE, marking an increase of 4.27 per cent.

Shares of government-owned Mahanagar Telephone Nigam Ltd (MTNL) surged nearly 5 per cent on Thursday, a day after the Union Cabinet approved its merger with Bharat Sanchar Nigam Ltd (BSNL). In an official statement on Wednesday, the Cabinet said the plan is

Details
Category: Business

Write comment (95 Comments)

Earlier in October, IndiGo commenced operations on Kolkata-Hanoi route.

Passenger carrier IndiGo commenced operations to Guangzhou, China from Kolkata on October 20, making Guangzhou its 23rd international destination and 83rd overall destination, the company said in a statement. "We are pleased to inaugurate our first flight to Guangzhou. The

Details
Category: Business

Write comment (91 Comments)

IRCTC news: Tatkal charges have been fixed as a percentage of fare at 10% for second class trains.

Tatkal train ticket service (Tatkal Railway Reservation) of Indian Railways allows passengers to book train tickets for travelling on urgent basis. Tatkal train tickets come with payment of premium charges to normal ticket booking making it expensive

Details
Category: Business

Write comment (99 Comments)

SC said that the adjusted gross revenue will also include other items besides licence fee.

The Supreme Court on Thursday rejected telecom companies' appeal against the government's definition of adjusted gross revenue (AGR) and allowed the Department of Telecommunications (DoT to recover dues worth Rs 1.33 lakh crore from telecom companies - Bharti

Details
Category: Business

Write comment (97 Comments)

Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi on Wednesday approved opening up fuel retailing norms to non-oil companies to set up petrol pumps.

Briefing reporters about the decisions taken by the Cabinet, I-B Minister Prakash Javadekar said the opening up the fuel retailing will increase investment and

Details
Category: Business

Write comment (91 Comments)

Infosys share price today: Infosys shares edged higher after falling more than 4% in early deals

Infosys shares rose more than 1 per cent on Wednesday, a day after a plunge in the stock amid whistleblower complaints that its top two executives engaged in unethical practices wiped out nearly Rs 53,000 crore of investor wealth. Infosys shares rose as

Details
Category: Business

Write comment (91 Comments)

Two-wheeler major Hero MotoCorp on Wednesday reported a net profit of Rs 874.80 crore on a standalone basis for the quarter ended September 30, 2019.

The company also reported an exceptional item worth Rs 60.11 crore for the VRS that it has introduced in its standalone financial results.

Consequently, the profit after tax (PAT) for the quarter under

Details
Category: Business

Write comment (94 Comments)

Infosys has settled with Sebi case of alleged disclosure lapses regarding a payment made to Mr Bansal.

New Delhi: 

Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company's top executives were following "unethical practices" to shore up profits through

Details
Category: Business

Write comment (98 Comments)

On Tuesday, the Sensex and Nifty fell 0.85% and 0.63% respectively to snap a six-day winning run

Domestic stock markets started Wednesday's session on a positive note with the S-P BSE Sensex index opening 100 points higher and the broader NSE Nifty benchmark starting the day 3.80 points shy of 11,600, a day after the indices broke a six-day

Details
Category: Business

Write comment (92 Comments)

Infosys received complaints from anonymous whistleblowers alleging certain unethical practices.

Infosys Ltd said on Thursday that the US Securities and Exchange Commission had launched an investigation into whistleblower claims that the software services firm used "unethical practices" to boost revenue and profit.

The company said market regulator

Details
Category: Business

Write comment (93 Comments)

State-run BSNL has been reporting losses since 2010

The Cabinet Committee on Economic Affairs on Wednesday gave an in-principle nod to a proposed merger of Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL) in a bid to revive debt-ridden state-run telecom operators. "The

Details
Category: Business

Write comment (90 Comments)

Riders will see "Public Transport" as an option alongside UberGo, Premier and Pool.

New Delhi: 

Hiring a cab from a Metro station in Delhi is set to become a lot more easier as ride hailing major Uber on Tuesday announced it has won a competitive bid to expand its operations across 210 Delhi Metro stations.

Under the partnership to improve first and

Details
Category: Business

Write comment (100 Comments)

The S-P BSE Sensex and NSE Nifty 50 indexes turned flat as gains in HDFC, Larsen - Toubro, ITC, HCL Technologies, Kotak Mahindra Bank and Tech Mahindra were offset by losses in Infosys, ICICI Bank, Bharti Airtel, Axis Bank and Tata Consultancy Services. The benchmarks had opened higher after early trends from Haryana and Maharashtra

Details
Category: Business

Write comment (93 Comments)

JSW Steel on Wednesday reported a net profit of Rs 2,560 crore for the quarter ended September 30. That marked an increase of 20.41 per cent compared to the corresponding period a year ago. Revenue from operations however fell 18.47 per cent to Rs 17,572 crore in the second quarter of current financial year, as gross sales shrank 19.88 per cent to

Details
Category: Business

Write comment (97 Comments)

Forex market was closed on Monday on account of assembly elections in Maharashtra.

Mumbai: 

The rupee on Tuesday rose to a two-week high against the US dollar on hopes of partial trade deal between the US and China next month. The domestic currency closed at 70.94 to the dollar, a gain of 20 paise or 0.28 per cent over the previous close on Friday.

Details
Category: Business

Write comment (92 Comments)

India landed on the most-improved list for the third year in a row.

China and India made the top 10 list of governments that have done the most in the past year to improve the ease of doing business in their countries, the World Bank said Wednesday.

Despite a bitter trade war, in which the United States is demanding reforms from Beijing to protect

Details
Category: Business

Write comment (92 Comments)

Mid- and small-cap shares witnessed mild gains in today's session.

The S-P BSE Sensex and NSE Nifty 50 bounced back and resumed their upmove after day's pause in the previous session led by gains in Infosys which staged a rebound after witnessing worst single-day fall in over six year. HDFC, ICICI Bank, Tata Consultancy Services, Maruti Suzuki

Details
Category: Business

Write comment (93 Comments)

While the United States is Uber's biggest market, it faces stiff competition from local rival Lyft.

New Delhi: 

Uber pinned its growth over the next decade on developing markets like India on Tuesday, despite the problems it has faced in establishing itself in China and Southeast Asia.

India is a very competitive market with demanding consumers but

Details
Category: Business

Write comment (92 Comments)

SEBI found that the auditors had failed to get independent verification of the cash.

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against the Securities Appellate Tribunal's decision to quash a two-year ban on international auditing firm Price Waterhouse due to its role in the Satyam Computer Services' fraud case.

On

Details
Category: Business

Write comment (94 Comments)

On the BSE, Axis Bank shares rose as much as 2.42% to an intraday high of Rs 730 apiece.

Axis Bank shares gave up most of early gains to close on a flat note on Wednesday, a day after the private sector lender reported an improvement in its asset quality. In a regulatory filing after market hours on Tuesday, Axis Bank reported  a net loss of Rs

Details
Category: Business

Write comment (94 Comments)

Overall, IndiGo operates almost 1,500 daily flights with a fleet of over 240 aircraft.

Ho Chi Minh City: 

After consolidating its presence in West and Southeast Asia, country's largest passenger carrier IndiGo plans to add more destinations in China next year followed by a likely entry into the Central Asian market.

Moreover, the airline has also not

Details
Category: Business

Write comment (92 Comments)

Sequentially, net profit rose 19.4 per cent to Rs 2,651 crore from Rs 2,220 crore a quarter ago.

New Delhi: 

Software major HCL Technologies Ltd (HCL) on Wednesday reported a Rs 2,651 crore consolidated net profit for the second quarter (Q2) of fiscal 2019-20, registering a 4.4 per cent annual growth over the same period a year ago.

The company had

Details
Category: Business

Write comment (93 Comments)

S-P said it does not expect contagion to affect state-run banks.

There is rising risk of contagion in country's banking sector with many finance companies having lost more than half of their equity value in the past year, rating agency Standard - Poor's said on Wednesday. India's non-banking finance companies, or more popularly "shadow

Details
Category: Business

Write comment (92 Comments)

Falling industrial demand dragged India's fuel demand to its lowest in more than two years in September.

Country's oil imports fell to their lowest in more than three years in September to 3.82 million barrels per day (bpd), data obtained from industry and shipping sources showed, as some refiners cut purchases due to shutdowns for maintenance and

Details
Category: Business

Write comment (100 Comments)

Wheat is the main rabi crop, sowing of which will begin next month.

New Delhi: 

The government on Wednesday hiked the minimum support price for wheat by Rs 85 to Rs 1,925 a quintal and for pulses by up to Rs 325 per quintal. A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister

Details
Category: Business

Write comment (94 Comments)

Bajaj Auto on Wednesday reported a net profit of Rs 1,402.42 crore for the quarter ended September 30. That was 21.69 per cent higher compared with the corresponding period a year ago. Revenue however declined 4.09 per cent to Rs 7,707.32 crore in the second quarter of current financial year, according to a regulatory filing by the Pune-based auto

Details
Category: Business

Write comment (95 Comments)

Jio new plans: Jio's plan priced at Rs 222 offers 56 GB of data for a period of 28 days.

Reliance Jio, the telecom arm of Reliance Industries, has announced four "all-in-one" plans with data and voice call benefits. These plans are priced at Rs 222, Rs 333, Rs 444 and Rs 555, and provide the subscriber with unlimited free calls on the Jio network (J

Details
Category: Business

Write comment (94 Comments)