Jyoti Bansal: Meet the IIT-Delhi alumnus who sold his start-up for $3.7 billion
NEW DELHI: Indian-American entrepreneur Jyoti Bansal has agreed to sell his application intelligence venture AppDynamics to Cisco Systems for a $3.7 billion (Rs 25,150 crore approx) deal. The announcement has come a day before AppDynamics was to launch its initial public offer (IPO), which valued the company at $2 billion. Click here to read more.. […]
India’s online spend to touch Rs875,600 crore by 2018: Report
New Delhi: Indian shoppers are likely to spend almost 85% more on global online marketplaces in 2017 across categories, said a report jointly published by digital payments platform PayPal and market research firm Ipsos. The report titled PayPal Cross-Border Consumer Research 2016 projected that the overall online spending in the country (including domestic and cross-border) […]
Why oil can spoil India’s budget math
Mumbai: One of the biggest drivers of India’s superlative macro-economic performance in the recent past has been a relatively under-appreciated element: oil. Since 2014, the dramatic fall in crude oil prices has helped India contain her twin deficits, and tame inflation. But with oil exporting countries planning to curtail oil supply, raising the possibility of […]
N. Chandrasekaran begins long road to restoring Tata group’s image
Bangalore/Mumbai: Amid the carnage on Wall Street in 2008, as Bank of America Corp. was trying to forge its rushed merger with Merrill Lynch & Co., Natarajan Chandrasekaran boarded a plane for New York to try to reassure the two financial behemoths that an Indian IT company could make the systems of their strikingly different […]
Infosys results provide little reason for cheer
Infosys Ltd’s December quarter results were in line with Street expectations, which isn’t great news because expectations had been running low. Revenues fell 1.4% sequentially to $2.551 billion, largely due to the ramp-down of a large project with Royal Bank of Scotland Plc. (RBS) subsidiary Williams and Glyn. While the trouble with the RBS project […]
Indian airlines soar but experts warn of turbulence ahead
New Delhi: A major acquisition by Indian budget airline SpiceJet this week underscored the vast potential of the world’s fastest-growing aviation market, but experts say woefully inadequate infrastructure and high operating costs could threaten the industry’s rapid expansion. India’s burgeoning middle classes are taking to the skies in ever greater numbers, with passenger growth of […]
N. Chandrasekaran must improve dividend payout to Tata Trusts: V.R. Mehta
Mumbai: The new leadership at Tata Sons Ltd should take into account the main worry of Tata Trusts—a decline in the dividend income of the group holding company—and work towards improving the performance of all operating firms, said V.R. Mehta, a trustee of the Sir Dorabji Tata Trust. The leadership should ensure that the overall […]
Infosys, TCS, Wipro stocks in focus as US plans tougher H1-B visa norms
Stocks of information technology (IT) companies such as Infosys, TCS and Wipro continue to remain in focus over rising concerns of a clampdown by the US Congress over H1-B visas. Infosys’ stock prices were marginally down by less than a percent on Monday morning and TCS’ stock prices were stable. Click here to read more… […]
Air India’s woes continue, rated third worst airline in the world by FlightStats
Air India, the country’s state-owned carrier, has been listed as the third worst performing airline in the world in a recent survey by flight data firm FlightStats. Apart from Air India, the 10 worst carriers list included Air China, Hong Kong Airlines, Philippine Airlines, Qantas, Delta Air Lines, Qatar Airways, among others. Click here to […]
Banks’ lending rate cuts raise hopes of a revival in credit growth
A bunch of banks have cut lending rates after State Bank of India’s (SBI’s) deepest loan rate slash in recent years, raising hopes of a credit growth revival after economic activity was disrupted by the withdrawal of high-value currency. After SBI cut its marginal cost of funds-based lending rate (MCLR) by 90 basis points (bps) […]
To invest in gold, go for gold ETFs and gold bonds instead of jewellery
This week, Srikanth Meenakshi shares his views on some of the investment mistakes that many people that he interacted with tend to make. Gold jewellery as investment Gold is a useful hedge against inflation. Buying gold jewellery for investment, as many are wont to do, is not the ideal way. Making charges in gold jewellery […]
India may offer China tariff removal on over 70% goods
NEW DELHI: India plans to offer tariff elimination on more than 70% traded goods with China over an extended period of time under the ongoing negotiations for a Regional Comprehensive Economic Partnership (RCEP) agreement. “One cannot go beyond 6% offer on either side of common concession. For example, if common concession is decided at 80% for […]
In Delhi’s industrial hub, jobless workers sell chicken, wash utensils
The ordinarily raucous Mayapuri Industrial Area in West Delhi, comprising 1,800 factories manufacturing everything from shoes to coolants and vehicle engines, has fallen largely silent over the last month. The only ones seeing brisk business are eight glitzy banquet halls on the Ring Road, veiling Mayapuri’s sooty factories and crumbling jhuggies. It’s to these banquet […]
Demonetisation impact: PSU bank shares outperform private peers
MUMBAI: Shares of most state-owned banks have rallied since demonetisation on the back of swelling deposits and falling treasury yields, and are surprisingly turning out to be better performers than their private-sector counterparts, even as the problem of bad loans continues to weigh. In a surprise move to curb black money, terrorism finance and fake […]
Patanjali fined by court for misleading advertisements
A local court in Haridwar has slapped Ramdev’s Patanjali Ayurved’s five production units with a fine of Rs 11 lakh for “misbranding and putting up misleading advertisements” of their products. ADM Lalit Narayan Mishra’s court has asked the company to pay the fine within a month. Patanjali Ayurved was found guilty of misbranding as the […]
NRIs have advantage in India’s luxury property market after demonetisation
SINGAPORE: NRIs have an advantage in luxury property market in India post-demonetisation as real estatedevelopers in major cities of the country have ‘significantly’ dropped property rates, according to Singapore-based business analysts. “Given the recent demonetisation move, property rates have significantly dropped across various cities in India,” said Abhijit Ghosh, India Desk leader at PricewaterhouseCoopers (PwC) […]
Cyrus Mistry misled to become chairman, retracted on promises: Tata Sons
Escalating the boardroom battle at India’s largest conglomerate, Tata Sons on Sunday charged Cyrus P Mistry of misleading to get selected as Chairman, retracting on his promises, concentrating powers and using free-hand given to him to weaken management structures. Days ahead of meetings of shareholders of group companies to consider removing Mistry from board of […]
I-T dept rejects declarations of over Rs 2 lakh crore by ‘suspicious’ people
The government will not take into account two high-value disclosures under an amnesty scheme for tax dodgers — Rs 2 lakh crore by a Mumbai family of four and Rs 13,860 crore by an Ahmedabad-based real estate businessman. The Union finance ministry said the declarations were rejected as these were “suspicious in nature, being filed […]
RBI to soon issue Rs 20, Rs 50 notes; old notes to remain valid
The Reserve Bank of India will shortly issue new notes of Rs 50 and Rs 20. The Rs 50 notes will be without inset letter in both the number panel while the Rs 20 notes will have inset letter ‘L’ in both the number panels, bearing signature of Urjit R Patel, Governor, Reserve Bank of […]
India projected to grow 7.6% in 2017: UN report
UNITED NATIONS: India’s economy is projected to grow at 7.6 per cent in 2017 as investment regains momentum and manufacturing base strengthens on the back of structural reforms in the country, a UN study said, crediting India and China for steady growth of the Asia-Pacific region. “India’s economy is projected to sustain a 7.6 per […]
