Good monsoon, consumer spending to see India grow at 7.4% this fiscal: StanChart report

Good monsoon, consumer spending to see India grow at 7.4% this fiscal: StanChart report

The expectations of a growth recovery are contingent on consumption revival, especially rural demand as investment-led recovery will likely be gradual amid rising external woes, the global financial services major said.

Jabong's parent company secures 300 mn euro funding from Rocket Internet
Jabong's parent company secures 300 mn euro funding from Rocket Internet

While Rocket Internet will underwrite around 100 million euros (about Rs 760.7 crore) of the financing, it will invest around 85 million euros (about Rs 646.7 crore), including the conversion of an existing investment at the terms of the financing.

Wipro, partners set up Saudi Arabia's first all-women business park
Wipro, partners set up Saudi Arabia's first all-women business park

Wipro's larger rival Tata Consultancy Services (TCS) had established its first all-women Business Process Services (BPS) centre in Riyadh in 2013.

Carmaker Maruti Suzuki sales jump 13% in April
Carmaker Maruti Suzuki sales jump 13% in April

The firm said sales of compact segment, comprising Swift, Estilo, Ritz, Dzire and Baleno increased by 8 per cent to 45,700 units in April as against 42,297 units a year ago.

InterGlobe Aviation drops over 6% after muted Q4 result

After opening on a weak note, the stock further slipped 6.42 per cent to Rs 1,007.40 on BSE.

Sanjeev Gupta's Liberty House confirms bid for Tata Steel in UK

The commodities trading firm, which emerged as an early front-runner for Wales-based Port Talbot steelworks, had said last week that its team was evaluating the bid.

Demand slows down for office space in Bengaluru

Sanjay Dutt, managing director at Cushman and Wakefield, believes instances of space being given up are possible adding, decision-making at companies is definitely slower than it was last year.

Sensex tanks 210 points on rout in Japan; Nifty below 7,800

The benchmark BSE Sensex tumbled 210 points and the NSE Nifty dipped below the 7,800-mark in early trade Monday on across-the-board selling by investors, tracking heavy losses in Japan as a surging yen hit exporters.

All you need to know about India's proposed Insolvency and Bankruptcy Code

Once fully implemented, the code would seek to speed up debt recoveries and restructurings by setting a deadline of 180 days to decide the fate of a company that defaults.

Australia, NZ dollars regain some ground on US dollar and yen

The Australian dollar edged up to $0.7615, from $0.7603 late on Friday.

Greenpeace to publish leaked documents on US-EU trade deal

"These leaked documents confirm what we have been saying for a long time: TTIP would put corporations at the centre of policy-making, to the detriment of environment and public health"

Beyond the News: Why growth in bank deposits is at a 53-year low

It is the clearest sign, perhaps, of the pressure on household incomes today.

From crisis to boom to crisis all over again: The journey of Steel
Express Economic History Series

Just as in the late 1990s, Indian lenders have been forced to recast loans to the some of same promoter firms that had dragged them down then too!

Trial version: Govt to launch e-platform for labour market information

Final version likely in two months; Centre also working on a catchy name.

Good start to earnings season as both big & small firms beat Street estimates

Consumer durables seem to be seeing better demand. That pricing power is returning to manufacturers was evident from Maruti’s smart 12.3% jump in revenues for March quarter.

Vodafone picks Kotak, UBS, ICICI for $ 2-bn share sale

The company has also picked ICICI Securities, HSBC and Deutsche Bank as joint book-runners, the sources said.

Amul eyes Rs 50,000-crore turnover by 2020

In the last six years, the dairy cooperative's turnover has jumped nearly three-fold to Rs 23,000 crore.

Top three companies add Rs 34,256 cr in market capitalisation, TCS shines

The m-cap of TCS soared Rs 22,236.28 crore to reach Rs 4,98,528.12 crore, emerging as the biggest gainer among the top-10 firms.

Need stable policy, sudden changes affect investments: Honda

Honda Cars India, which was manufacturing petrol cars primarily in the country till a couple of years back, invested heavily in diesel technology when demand began to shift towards diesel cars due to wide gap in petrol and diesel prices.

Vedanta unit seeks rollover of $1.25-bn loan from Cairn

The loan, which was extended for two years at floating rate of 3 per cent plus LIBOR, was to be repaid by July 2016.

Lenders begin auction of brand Kingfisher, trademarks

The online auction of brand Kingfisher is being conducted by SBI Cap Trustee Company on behalf of lenders under the SARFAESI Act.

Non-Performing assets of public sector banks to be examined by parliamentary panel

As per the government, the main reasons for rise in NPAs are sluggishness in the domestic growth in the recent past, slow recovery in the global economy and continuing uncertainty in global markets.

IndiGo Q4 net profit remains flat at Rs 579 cr

Indigo airlines flew 24 per cent more passengers at 8.93 million compared to the year-ago period.

Idea Celullar down by nearly 6 per cent as Quarter 4 profit shrinks

Idea Cellular's net profit dived 39 per cent to Rs 575.6 crore in the said quarter due to a spike in finance costs.

Sensex slips 56 points as May series gets off to a shaky start

The 30-share Sensex, which lost 461 points in the previous session, fell by another 55.65 points, or 0.21 per cent, to 25,547.45.

I am in 'forced exile', willing to reach 'reasonable' debt settlement: Vijay Mallya

Mallya said he was in "forced exile" and had no plans to leave Britain.

Sensex dips 461 points on BOJ shock, April contracts expiry

Nikkei also fell over 3.6 per cent and European markets also followed suit.

Bankruptcy code: Cut timelines for liquidation processes, says House panel

The report of the 30-member Joint Committee on ‘Insolvency and Bankruptcy Code, 2015’ was tabled in Parliament on Thursday.

Bad loans: To speed up recovery process, govt plans SARFAESI, DRT amendments

Finance Minister Arun Jaitley on Wednesday said that the SARFAESI Act and DRT Act are being amended to make the recovery process more efficient and expedient.

Wait for one more year before you can seek shelter under Real Estate Act

The housing ministry effectively set April 30, 2017, as the deadline for all states to establish a Real Estate Regulatory Authority and an Appellate Tribunal.

10% rise in China apparel prices would create 1.2 million jobs in India: World Bank report

For India to meaningfully cash in on the gradual shifting of China from the apparel sector, it needs to move quickly to ease barriers to the import of man-made fibres, facilitate access and encourage investments

HCL Tech net profit grows 14.4 per cent to Rs 1,926 crore

In dollar terms, the company's net profit grew 5.5 per cent to USD 285.1 million while revenue rose 6.5 per cent to USD 1.58 billion in the third quarter of 2015-16 from the year-ago period.

‘No plan of reversing as of now’: FinMin defends lower PF rate, cites fund crunch

An interest rate of 8.7 per cent would leave a surplus of around Rs 1,000 crore with EPFO for 2015-16, lower than the surplus of Rs 1,604.05 crore for 2014-15, the official said.

Joint Parliament Standing Committee clears Bankruptcy code: Arun Jaitley

Jaitley said the government is taking various steps, including introduction of Bankruptcy Law in the Lok Sabha, to deal with the problem of mounting bad loans.

Under single-brand FDI rules: Panel suggests exempting Apple from mandatory local sourcing norms

At present, Apple does not have any wholly-owned store in India and sells products through distributors such as Redington and Ingram Micro.

With 10 branches, first small finance bank kicks off operations

The bank’s business is projected to increase four-fold from Rs 3,000 crore as on March 31, 2016 to Rs 12,000 crore and branch network to 216 by March 2021.

Bharti Airtel beats Street estimates with 15.49% rise in net profit

Firm’s total revenue was up 3.7% at Rs 24,960 crore quarter-on-quarter.

Profit-booking and weak Asian cues pull BSE Sensex down by 122 points, falls below 26k

rokers said that apart from profit-booking, a weak trend in Asia amid caution ahead of a closely watched Federal Reserve policy announcement later in the day and the start of Bank of Japan policy meeting mainly pulled the indices down.

Will evaluate opportunities in processed food retail: Walmart

The company which operates 21 cash and carry stores under the brand 'Best Price'in nine Indian states, plans to open 50 more stores by year 2020.

Bad loans: Reform the banking system, Supreme Court tells govt
The Great Govt Bank Write-Off

A bench led by Chief Justice T S Thakur said that a “sensible and sensitive” approach is required to overhaul the entire system, which today has scores of people and entities with outstanding to the tunes of crore of rupees.

Supreme Court asks black money SIT to look into Bank of Baroda case

A bench led by Justice Anil R Dave asked the SIT headed by former Judge MB Shah to apprise the court on the progress made in the probe in the scam by May 11.

Haryana quota agitation dents Maruti profit; first quarterly loss in 2 years

Misses expectations with a 12% year-on-year decline in its net profit to Rs 1,133.6 crore during the January-March quarter.

Axis Bank net slips 1.2%, bad loans rise sharply

Gross NPAs of the bank surged by 48 per cent to Rs 6,087.51 cr in the latest quarter from Rs 4,110.19 cr a year ago.

Trai to SC on calldrops: ‘Can reconsider fines, if free calls provided’

Citing Telenor as an example, Attorney General Mukul Rohatgi said that if Telenor can come out with a scheme to give free calls for every call drop, so could other telcos.

NGT quizzes Volkswagen India arm on recall of vehicles

The counsel appearing for the auto major said that recall of vehicles is a long procedure and it would take some time.