Briefly Business

Hutch deal cannot be taxed under present laws

New Delhi:Resuming its arguments against Rs 11,000 crore tax demand by the I-T Department,the British telecom giant Vodafone on Thursday contended before the Supreme Court that the present Indian income tax laws do not cover gains from overseas transactions.

Bank employees plan to go on strike today

New Delhi: Employees protesting the proposed banking sector reforms are expected to go on strike on Friday after talks with the department of financial services and the Indian Banks Association failed to take shape.

Maruti expects FY12 sales growth in low single digit

UDAIPUR: Maruti Suzuki India on Thursday said it expects sales growth for the fiscal to be in low single digit as the Indian automobile market struggles to cope with rising interest rates and high fuel prices.

RBI revamps TAC on monetary policy

mumbai: The RBI has reconstituted the Technical Advisory Committee TAC,which advises the bank on its monetary policy stance,in the light of macroeconomic and monetary developments. The new committee will include eminent economists like Shankar Acharya of ICRIER.

Auto stocks skid as FM hints at higher diesel prices

Mumbai: Shares of auto majors such as Maruti,Tata Motors and Mahindra amp; Mahindra lost ground following indications that the government was moving in the direction of taking measures that might make diesel expensive for car owners. Maruti shares dropped 1.2 per cent to close at Rs 1,200.75 and Tata Motors fell 1.5 per cent to Rs 913.35 on the BSE. The losses were much sharper for Mamp;M,whose stock fell 4.5 per cent to close at Rs 679.25. Ashok Leyland fell 2.77 per cent.