Business news

SEBI Asks PACL to Refund ₹49,000 Crore and Stop Raising Money from Investors

This step is the biggest crackdown on a large scale unlawful scheme after the Saradha Scam and is over twice the size of Sahara's illicit scam.

Aug 23, 2014

Kerala and Uruguay: One Weeds Out Alcohol, Other Welcomes Marijuana - Both in the Name of Societal Benefits

Kerala seems to be headed towards the non-alcoholic way – the Gujarat way.

Aug 23, 2014

Jignesh Shah Granted Bail on Cash Surety of ₹5 lakh; NSEL Scam Timeline

The NSEL scam is estimated to be a ₹5,600 crore fraud that came to light after the National Spot Exchange failed to pay its investors.

Aug 23, 2014

BSE closes points 59.44 up on August 22

New Delhi, August 22 (ANI): Trading at the Bombay Stock Exchange today closed 59.44 points up to stand at 26,419.55. At the National Stock Exchange the Nifty closed 22.10 points up to stand at 7,913.20. Financial Technologies (India) Ltd. and UPL were among the top gainers of Group A with an increase of 5.00% and 4.56% along with UNIONBANK and Jubilant Food Works Ltd with an increase of 3.69% and 3.43% respectively, while the top losers of Group A include BHUSHAN STEEL LTD. and JAIPRAKASH ASSOCIATES LTD. with a decrease of 4.97% and 3.98% along with SOBHA and MMTC with a decrease of 3.90% and 3.78% at the close of the markets. The Auto sector is up 13.62 points at 17,034.27 while the banking sector is up 199.03 points at 18,114.53 and the reality sector is down 16.49 points at 1,821.03. The Indian currency is down 0.3% at Rs 60.49 per dollar.

Aug 22, 2014

a-worker-spreads-sugar-inside-a-sugar-factory-at-sanyan-village-in-gujarat-april-23-2012

Sugar Stocks Surge after 25% Raise in Import Duty

Indian government raised the import duty on sugar to 25 percent from 15 percent to help regional mills struggling with lower prices and higher stocks.

Aug 22, 2014

RBI Report 2013-14: Highlights and Growth Outlook

The Reserve Bank of India on Thursday released its annual report of 2013-14.

Aug 22, 2014

SpiceJet Pips Jet Airways to Take Second Position, Becomes Only Airline to Report Profit in July

Low fare airline SpiceJet has crossed Jet Airways in market share figures in July, to become the second largest domestic airline in the country, with only IndiGo ahead of them.

Aug 21, 2014

Indian Companies Come out in Support of Modi's 'buy India' Pledge

Analysts expect that India, which is currently the largest arms importer, will spend $250 billion in the next decade.

Aug 21, 2014

Eros International Acquires TV Rights from Zee Media, Share Value Surges 8.83%

Shares of Eros International Media rose to its highest since November 2011, after it acquired 10 worldwide shows from Zee TV.

Aug 20, 2014

Ex-CEO Steve Ballmer Resigns from Microsoft to Focus on NBA's Clippers

Steve Ballmer resigned from the board on Tuesday as he aims to dedicate more time to the newly acquired LA Clippers

Aug 20, 2014

Banks Examine Administration of Bhushan Steel with Help from Engineering Firms

Creditors of Bhushan Steel Limited are set to audit and investigate the steel maker's administration with the help of engineering and auditing firms.

Aug 20, 2014

Textile Firm Arvind Enters into E-Commerce with Clothing Brand Creyate [VIDEO]

Creyate is an online platform by Arvind, which allows online subscribers to customise the design, fabric, buttons and structure of clothes before ordering online.

Aug 20, 2014

A man walks outside the factory of United Breweries Ltd (UB) that manufactures Kingfisher beer in Thiruvalluar district of the southern Indian state of Tamil Nadu

Vijay Mallya May Lose Company Board Place if Declared 'Wilful Defaulter'

United Breweries Limited (UBL) group owner Vijay Mallya may have to quit the boards of India's largest alcoholic beverage companies, if he is declared a 'wilful defaulter' by multiple banks

Aug 18, 2014

Hotel Plaza owned by Sahara Chief in New York

Sultan of Brunei Refutes Rumours of Bidding for Sahara's New York and London Hotels

The Sultan of Brunei Hassanal Bolkiah, has dismissed a report by The Wall Street Journal, which said that he is bidding for a few hotels in New York and London.

Aug 18, 2014

Gold Demand in India Falls 40%, Metal Gains on Geopolitical Tensions

Persistently soft demand for gold in Asia has stoked worries that buying will fail to pick up in the second half of the year, when it is normally stronger,

Aug 16, 2014