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About three-fourth items in the highest tax slab may move to lower brackets. As many as 165 such items could be moved to the 18 percent category, with only 62 attracting the highest rate. Those retained in the highest category could include digital cameras, shaving creams, paints and varnishes, cigars, pan masala, chocolates, cosmetics, vacuum cleaners, refrigerators, washing machines, hair conditioning items, hair dyes, marble and granite.
Global direct selling major Amway has been asked to remove two of its products from sales by the apex consumer commission, which also slapped a fine of 1 lakh rupees on it for allegedly wrongly branding its products. The National Consumer Disputes Redressal Commission (NCDRC) asked Amway India Enterprises Pvt Ltd to remove Amway Madrid Safed Musli (Apple) and Kohinoor Ginger Garlic Paste from the market within six weeks.
Leading telcom companies and PE funds interested in mobile tower and the fibre optic assets of Reliance Communication (RCom) that are up for sale. RCom, debt of 40,000 crore, able to garner 17,000 crore by monitising its tower, fiber and spectrum assests and 10,000 crore from sales of Real Estate.It has also suggested that the bankers convert around 7,100 crore of their loans into equity by which they would have a 51% stake in RCom.
Revenue from operations jumped 41.2 percent to Rs 1,258.02 crore, compared with Rs 890.89 crore in corresponding quarter.Profit for the quarter increased to Rs 203.72 crore from Rs 126.89 crore in year-ago.Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) surged 49.4 percent year-on-year to Rs 370 crore and margin expanded by 160 basis points to 29.4 percent for quarter ended September 2017.
Other income (non-interest income) spiked 81.55 percent to Rs 1,059.24 crore and operating profit jumped 62.3 percent to Rs 1,551.4 crore compared with same quarter last fiscal. The bank had reported profit at Rs 153.3 crore year-ago quarter. Net interest income during the quarter fell 4.9 percent to Rs 1,251.7 crore year-on-year, with loan growth of 4.8 percent at Rs 1.49 lakh crore. NPAs were lower at 9.44 percent from 9.56 percent QoQ.
In domestic market, with around 19 percent it headed towards 23-25 percent because we have done very well over this season. We had tremendous retailing in excess of what we have invoiced to dealers good momentum going into the third quarter. We need to look what the industry is like but I do expect our market to be around 25 percent. On the back of Pulsar NS200 and NS160 doing very well.
Maruti Suzuki would look to achieve annual sales of 2.5 million cars by 2023 once it achieves the milestone of 2 million cars per year by 2020, Chairman RC Bhargava. Maruti Suzuki, a 56.21 percent subsidiary of Japan’s Suzuki Motor Corporation, sold 1.56 million vehicles (domestic plus export) in the last financial year. During the first seven months (April-October) of the FY18, India’s largest passenger carmaker sold 1,033,135 vehicles
Airtel is offering 1.5GB per day data with unlimited local, STD calls and 3000 text message.However, Reliance Jio is still offering a validity of 70 days with unlimited calls and text messages. Airtel calls are capped at 250 minutes a day or 1000 minutes a week beyond this a levy of 10p per min for Airtel to Airtel calls and 30p per min for other network.The offer can be availed by using Airtel's application.
Biyani said that his group looking FMCG revenues from Rs 1,800 crore to Rs 20,000 crore by 2021 and 70 per cent of FMCG sales will come from his own brands.Future Consumer Limited India’s first sourcing-to-supermarket food company by Future Group. Under FCL’s spectrum, the company sources best quality commodities from world over, comprises of extensive portfolio of established brands in food and HPC space.
India at the 100th place - a 30-notch jump over the previous ranking in ease of doing Business. World Bank CEO Kristalina Georgieva said a jump of this nature is “very rare since the beginning of the survey 15 year ago”. “It is particularly rare when we talk about size of India. I understand that in a cricket-loving nation hitting a century is a very important milestone,” she said.“We know that there is a very strong condition that extreme poverty would be history in India. Extraordinary achievements in the last three decades, the per capita income has quadrupled,” she said. -Indianexpress
Latha Venkatesh in special chat with expert panel to discuss recap bonds; The structure, lock-in period and whether government should capitalise PSU banks with rights issue. Indianomics Special: Desired Framework Of Recap Bonds : CNBC TV18
Gurgaon-based electric vehicle startup showcased its electric scooter named ‘Flow’ to be launched in the Auto Expo 2018, aims to sell 50,000 units in the first year. “We are confident. The charging anxiety is not there can remove the scooter battery and charge out from 5 Ampere socket. The scooter goes up to 80 km on a single charge have to charge only twice or thrice in a month," said Kharb, Co-Founder & CEO