Business news

Will Sitharaman cross lines of control to bomb ease of doing business hurdles?

Prime Minister Narendra Modi's biggest task is to bring India on par with China on ease of doing business index and Sitharaman is his best bet for the task.

Jun 12, 2019

Wipro CEO Abidali Neemuchwala gets 41% salary hike, overtakes Infosys chief Salil Parekh

Abidali Neemuchwala received about Rs 6.9 crore as salary and allowances, Rs 6.17 crore as commission and variable pay, about Rs 13.85 crore as others and rest in long-term compensation.

Jun 12, 2019

SFIO seeks investigation into RBI officials' alleged role in IL&FS collapse

Financial fraud watchdog asks RBI to investigate why warning bells about imminent IL&FS crash would go up to only a certain level in the hierarchy.

Jun 12, 2019

Patanjali: Rapid expansion taking a toll on Baba Ramdev's biz? Sales plunge 10%

Customers were snapping up Patanjali Ayurved's affordable, Indian-made products such as coconut oil and ayurvedic remedies, in a mounting threat to foreign companies that had bet big on India.

Jun 12, 2019

IL&FS (Infrastructure Leasing and Financial Services Ltd.)

Modi govt drags Deloitte, KPMG affiliate BSR to NCLT; seeks 5-year ban

The two firms won't be allowed to audit any listed or unlisted company, including banks and non-banking financial companies (NBFCs), for five years if the proposed punishment is accepted by the NCTL.

Jun 11, 2019

Does Sitharaman's 'surgical strike' show PM Modi's displeasure over Jaitley's term?

Poll-bound PM Modi's worst headaches were the departments under the finance ministry that churned out contradictory data on the state of the economy exposing the government to relentless opposition fire.

Jun 11, 2019

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Debt-ridden Suzlon faces loan repayment default even as shares nosedive

Suzlon's losses have increased from Rs 384 crore in 2018 to Rs 1537 crore in 2019. The company has a debt of about Rs 11,141 crore.

Jun 11, 2019

IMA fraud: How do you find out if an investment plan is really a Ponzi scheme?

Ponzi schemes are characterised by the paying of 'profit' or returns to subscribers from money collected from later subscribers and the business will collapse when the addition of new clients tapers off.

Jun 11, 2019

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TCS overtakes IBM in market capitalisation

As of Monday's closing, the market cap of TCS stood at Rs 8.36 lakh crore on NSE whereas IBM was stable at Rs 8.31 lakh crore.

Jun 11, 2019

Yes Bank gets another blow; former MD and CEO Ajai Kumar quits board

The shares of YES Bank closed 2.89 per cent down at Rs 135.90.

Jun 10, 2019

Suppliers' bankruptcy petitions may prove the last nail in Jet Airways coffin

The fate of Jet Airways lenders rescue plan in the balance as several suppliers and operational creditors head to National Company Law Tribunal to initiate proceedings under Insolvency and Bankruptcy Code.

Jun 10, 2019

Risk aversion of mutual funds key reason for NBFC liquidity crunch, defaults

Ballooning IL&FS and DHFL crises drove mutual funds to reduce exposure to NBFCs in a big way since September sapping liquidity from shadow banks.

Jun 10, 2019

A week for stock specific action while market searches for new direction

Indices are back on even keel after exit poll results triggered a choppy ride to hit record highs twice; market may remain rangebound as no new data expected.

Jun 9, 2019

Trump calls off plans to impose tariffs on Mexico after deal on migration

The agreement announced on Friday followed three days of negotiations in Washington.

Jun 8, 2019

Auditor emails reveal Deloitte knew of loan evergreening in ILFS

The investigation team found a document in the email server of IL&FS prepared by the DHS Engagement team identifying the funding of borrowers for paying principal and interest.

Jun 8, 2019