Business news

Essar Oil closes 98% stake deal to Rosneft-led consortium for $12.9 bn

As part of the deal, oil major Rosneft will get a 49.13 percent stake in Essar Oil and the Trafigura-UCP consortium will hold another 49.13 percent stake in the company.

Aug 21, 2017

Buyback flops, Infosys stock slips to three-year low

The stock tanked 9.6% on the Bombay Stock Exchange at Friday's closing, its sharpest fall since April 2013.

Aug 21, 2017

Too little, too late: 'Vishal Sikka might have stayed on had the board sided with him sooner'

It is now also being said that Infosys would have a tough time retaining its clients, many of whom had a good equation with former CEO and MD Vishal Sikka and worked closely with him.

Aug 21, 2017

3 insurers file IPO papers in 3 weeks; aim to raise Rs 20,000 crore

Two dozen companies have filed draft papers with the Securities and Exchange Board of India.

Aug 20, 2017

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Wilful defaulters owe 27% of total outstanding loans to SBI alone

As many as 1,762 defaulters owe State Bank of India a staggering amount of Rs 25,104 crore.

Aug 20, 2017

Talks fail, banks going ahead with August 22 strike

Not happy with government's response to protests against bank consolidation and corporate NPAs.

Aug 20, 2017

Who will succeed Vishal Sikka? Finding next Infosys chief won't be easy

Infosys is likely to pick an insider to succeed Sikka, even that won't be easy for the board.

Aug 20, 2017

GST return filing date extended till August 25

Traders across the country faced problems on Saturday due to the technical snag and could not file GST returns.

Aug 20, 2017

7 products Apple probably wish theyd never made

Apple doesnt always get it right.

Aug 19, 2017

Law suits chase the bear's shadow: 3 US firms to sue Infosys over investor losses after Sikka exit

The firms intend to investigate potential securities claims on behalf of Infosys shareholders arising from allegations that it may have issued materially misleading business information.

Aug 19, 2017

Crash course: GST website back on line after buckling under filing stampede

The last date for businesses to file the GSTR-3B form for July is 20 August.

Aug 19, 2017

Concrete takeover: Indians beat Arabs in buying London property

Indian buyers took advantage of changes made in 2015 to the Liberalized Remittance Scheme in India that led to a rise in the amount of capital buyers can bring into the UK to $250,000 per person.

Aug 19, 2017

Software services exports lowest in 7 years, protests in Hyderabad against mass IT layoffs

India's software services exports slumped to the lowest in seven years which could blow the current account deficit to the widest since 2013 and add further pressure to the rupee.

Aug 19, 2017

Infosys board clears Rs 13,000-crore share buyback at Rs 1,150 apiece

The tech bellwether expects the buyback to push higher return on equity and serve as an opportunity to put its cash holdings to good use.

Aug 19, 2017

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Is this the real reason Jet Airways asked its pilots to take a salary cut?

Airline officials have now said that Jet Airways may have asked its pilots to take a salary cut after overestimating their pilot requirement and hiring more than necessary.

Aug 19, 2017