Saturday 23rd September 2017,
Radio Metta

Business

Sales accounted under GST could distort September quarter picture

Sales accounted under GST could distort September quarter picture

Investors are in for a surprise when the September quarter results are declared. This will be the first earnings season post-goods and services tax (GST) and differences in how sales will be recorded now are likely to distort reported growth figures. Companies have cautioned about this in their analyst meets and conference calls. Some may [...]

September 8, 2017 Loknath Das Business Comments Off on Sales accounted under GST could distort September quarter picture

Modi, Putin vow to boost cooperation in oil, natural gas sector

Modi, Putin vow to boost cooperation in oil, natural gas sector

Prime Minister Narendra Modi held talks with Russian President Vladimir Putin on Monday and discussed ways for boosting bilateral trade and investment, especially in the oil and natural gas sector. The two leaders met in this southeastern Chinese city on the sidelines of the BRICS Summit. “The two sides basically touched upon several aspects of [...]

September 8, 2017 Loknath Das Business Comments Off on Modi, Putin vow to boost cooperation in oil, natural gas sector

Ishaat Hussain retires from TCS board

Ishaat Hussain retires from TCS board

IT major Tata Consultancy Services (TCS) on Monday said its Director Ishaat Hussain has retired from the company’s board. Hussain had served as interim Chairman at TCS from November last year amid the boardroom battle between Tata Sons and Cyrus Mistry. In February this year, he was succeeded by TCS’ former CEO N Chandrasekaran taking [...]

September 8, 2017 Loknath Das Business Comments Off on Ishaat Hussain retires from TCS board

Sensex, Nifty snap three sessions of gains on Korea tensions

Sensex, Nifty snap three sessions of gains on Korea tensions

Shares in India snapped three sessions of gains on Monday as investors sought refuge in safe havens as tensions in the Korean peninsula escalated following North Korea’s sixth and most powerful nuclear test on Sunday. The Sensex fell 0.6% to 31,702.25, while the broader Nifty ended 0.62 % lower at 9,912.85. The NSE’s volatility index, [...]

September 8, 2017 Loknath Das Business Comments Off on Sensex, Nifty snap three sessions of gains on Korea tensions

India to bid for Israel oil-and-gas exploration blocks: Dharmendra Pradhan

India to bid for Israel oil-and-gas exploration blocks: Dharmendra Pradhan

Indian state-run Oil and Natural Gas Corp plans to bid for Israeli offshore oil-and-gas exploration blocks, India’s oil minister told Reuters, the first major deal between the two countries since a groundbreaking trip by Prime Minister Narendra Modi in July. India and Israel have deep defence ties but Modi and his right wing ruling group [...]

September 8, 2017 Loknath Das Business Comments Off on India to bid for Israel oil-and-gas exploration blocks: Dharmendra Pradhan

Tata Motors President and CTO Timothy Leverton quits, to move back to UK

Tata Motors President and CTO Timothy Leverton quits, to move back to UK

Tata Motors on Monday said its President and Chief Technology Officer (CTO) Timothy Leverton has resigned, after nearly seven years of association with the automaker. Leverton has decided to disengage from his services in the organisation as he wishes to relocate back to the UK for personal reasons, Tata Motors said in a statement. He [...]

September 8, 2017 Loknath Das Business Comments Off on Tata Motors President and CTO Timothy Leverton quits, to move back to UK

GST council panel extends deadline to file detailed returns

GST council panel extends deadline to file detailed returns

A panel of the goods and services tax (GST) council, which is authorized to take emergency decisions, on Monday decided to extend the deadline for filing detailed indirect tax returns for July, giving taxpayers extra time for compliance. Businesses and traders have to file detailed returns for their transactions in three forms—GST returns 1, 2 [...]

September 8, 2017 Loknath Das Business Comments Off on GST council panel extends deadline to file detailed returns

Zomato in talks with Ant Financial to raise $100-200 mn

Zomato in talks with Ant Financial to raise $100-200 mn

Food ordering and restaurant discovery platform Zomato Media Pvt. Ltd is in talks with China’s payments giant Ant Financial Services Group to raise $100-200 million, three people familiar with the matter said. The deal, which hasn’t been finalized, may value Zomato at between $800 million and $900 million, said two of the three people cited [...]

September 8, 2017 Loknath Das Business Comments Off on Zomato in talks with Ant Financial to raise $100-200 mn

Supply disruption halts work at Hyundai Motor’s plant in China

Supply disruption halts work at Hyundai Motor’s plant in China

Hyundai Motor Co said its China plant halted operation due to a supply disruption on Tuesday, its second shutdown in China in less than a month as diplomatic tensions between China and South Korea over a US missile defence system took toll on its business. One of the five China plants operated by its joint [...]

September 8, 2017 Loknath Das Business Comments Off on Supply disruption halts work at Hyundai Motor’s plant in China

Govt plans to reduce number of PSU banks to 10-15

Govt plans to reduce number of PSU banks to 10-15

India is looking to reduce the number of state-run banks to 10 to 15, more than what was envisaged earlier, through a series of mergers and acquisitions so that none of the banks become too big to fail, said Sanjeev Sanyal, principal economic adviser at the finance ministry. “Consolidation will not be taken too far [...]

August 21, 2017 Loknath Das Business Comments Off on Govt plans to reduce number of PSU banks to 10-15

Income tax scrutiny to remain limited despite surge in returns filed

Income tax scrutiny to remain limited despite surge in returns filed

The income tax department will maintain the number of tax returns chosen for scrutiny at the current level of less than 1% of all returns in spite of a surge in individual tax filings to keep the process non-intrusive and tax-payer friendly. Gentle persuasion through text messages, emails and advertisements will remain the department’s main [...]

August 21, 2017 Loknath Das Business Comments Off on Income tax scrutiny to remain limited despite surge in returns filed

BSE to delist 200 firms, bar their promoters on August 23

BSE to delist 200 firms, bar their promoters on August 23

Leading stock exchange BSE will ‘compulsorily’ delist 200 firms this week and bar their promoters from the markets for 10 years as trading in these shares have remained suspended for over a decade. All these companies will be delisted from August 23. The move also comes at a time when authorities are clamping down on [...]

August 21, 2017 Loknath Das Business Comments Off on BSE to delist 200 firms, bar their promoters on August 23