SEZs unlikely to get tax sops in DTC New Delhi: The Finance Ministry has indicated that the revised Direct Taxes Code draft may stick to denying tax sops to special economic zones (SEZs),even as Commerce Minister Anand Sharma assured that the interests of investors will be protected. The Commerce Ministry should first give its appraisal on what is the current state of SEZs,before demanding continuation of income tax benefits, a senior finance ministry official said. TCS directors pay up 25 pc in 2009-10 New Delhi: The Indian IT sector,which is reviving from the global financial crisis,might not have seen great salary hikes last fiscal,but the combined pay package of the directors at the countrys top software firm TCS shot up by about 25 per cent during 2009-10. The total pay package of its top management personnel and Directors on Board increased by over Rs 2.24 crore during the said period. FIIs invest $2.3 billion in India in Q1 Mumbai: Wary of fluctuations in European and US markets,foreign institutional investors preferred to park their money in Indian equities and invested over $2 billion during the first quarter this year. According to the market regulator SEBIs data,foreign institutional investors (FIIs) invested $2.33 billion in the domestic market during April-June 2010. Vardhman to invest Rs 230 cr on capacity Chandigarh: Leading textile company Vardhman Textiles Limited plans to invest a sum of Rs 230 crore on expanding the spinning capacity of its unit in Madhya Pradesh to cater to domestic and export markets. We will pump in Rs 230 crore on ramping up the production capacity of our unit at Mandideep,in MP,and it is expected to be commissioned within this fiscal, a senior official of Vardhman Textiles said. RIL may market financial products New Delhi: Mukesh Ambani is all set to enter the financial sector,hitherto considered a domain of Anil Ambani,and chances are that his group would showcase the products of the younger brother as also other players. The Mukesh Ambani group is contemplating a foray into financial services distribution business,using its vast network of retail chain to sell products like insurance,mutual fund and forex of different players from India and abroad. Nissan Copper eyes 150 pc revenue jump Mumbai: Leading semi-finished copper products maker Nissan Coppers turnover is likely to surge by over 150 per cent to Rs 325 crore in FY11 on the back of its new plant becoming operational this month. The new plant,which will manufacture inner groove copper tubes used for air-conditioning and refrigeration,will be the first of its kind in India. ETP eyes investment for expansion MUMBAI: Software major ETP International is looking at huge investments in retail solution projects in India,Sri Lanka and Bangladesh for its expansion. ETP will support this expansion through increased investments in sales and marketing across all major cities in the three counties, ETP CMD Naresh Ahuja said.
