India Blog News - Page 16

Walmart-Flipkart: Alphabet, US retail giant likely to buy up to 75% stake; deal to be announced before end of week

Sources said that Flipkart Group Chief Executive Binny Bansal held a closed-door meeting with the firm’s top leadership at its Bengaluru headquarters on Monday, and one added that Bansal said that Flipkart co-founder Sachin Bansal would exit after the Walmart deal is sealed.

DSP Group to buy out BlackRock stake in JV; another foreign player exits Indian mutual fund space

DSP Group owns 60 percent stake in the JV while the remaining 40 percent is with BlackRock Inc.

ICICI Bank Q4 results: Net profit plunges 45% to Rs 1,142 cr as fresh slippages, provisions soar

ICICI Bank on Monday reported a steep 45 percent drop in March quarter net at Rs 1,142 crore, driven down by fresh slippages of around Rs 10,000 crore due to changes in asset classification norms

Cash-for-tax settlement scandal: Union minister, senior tax officers demand action against corrupt officials

A high profile case of alleged corruption within the top brass of Income Tax has come to light with Director General (Investigation) writing to the Central Board of Direct Taxes (CBDT) to initiate action against one of the additional directors.

Flipkart-Walmart deal: Traders body demands scrutiny of $12 bn pact, warns it would promote predatory pricing

demanded the government to form a regulatory authority for e-commerce and till the authority is formed, no such deal should be allowed.

Karnataka election: 83 candidates from BJP, 59 from Congress face criminal charges; Why are Modi, Rahul mum on fielding crooks?

A number of criminals or, let’s say, potential criminals may get entry to the Karnataka Assembly to represent over 6 crore Kannadigas

Flipkart turns into pvt holding firm for strategic buyout by Walmart

Flipkart's, the decade-old firm, first buyback of shares was on 7 December, 2017 when it spent a whopping $869.15 million to buy 72,83,175

ICICI Bank Board meeting today; CEO Chanda Kochhar loan issue may come up

Although the ICICI Bank board meeting agenda is limited to financial results, some board members may raise the issue of corporate governance, sources said, adding that it is up to the Chairman M K Sharma to allow deviation from the scheduled agenda.

Fraud-hit PNB targets over 10% growth in FY19 to $180 billion, outlines steps to prevent frauds

will split the process of credit underwriting into four divisions with different employees focused on sourcing, appraisal, process and underwriting, documentation and disbursement, and recovery

Fortis stake sale: Manipal-TPG revises offer again, values it at Rs 8,358 cr; proposes to infuse Rs 2,100 crore upfront

Manipal Health also offered to subscribe to the equity shares of Fortis by way of preferential allotment for Rs 2,100 crore at a price per equity share of Rs 160.

Flipkart-Walmart deal nears closure as board approves sale of 75% stake to US retail giant for $15 bn

Flipkart and Amazon dominate the online shopping space in Asia's third-largest economy.

PMI: India's services growth picks up pace in April as demand improves; job growth fastest in 7 years

The service sector plays a crucial role in India’s economy as it contributes about 60 percent to the country’s gross domestic product.

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper

Gems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry

HCC auditors question Lavasa's ability to continue as a 'going concern' after fully eroded networth

Lavasa's Rs 23,000-crore hill city project near Pune ran into rough weather in November 2010 when the Union Forest and Environment Ministry asked the company to halt construction at the site citing violations, because of which its Rs 2,000 crore IPO got delayed.

GST meet today: Arun Jaitley, Council to focus on simplification of tax return form, incentives for digital payments

A decision on simplification of tax return form is on the agenda with the Sushil Modi-led group of ministers (GoM) putting the three models of new form for discussions before the council, sources said.

Lanco Infratech liquidation: IRP seeks NCLT's direction; 270-day insolvency resolution deadline ends today

Lanco, among 12 firms identified by the RBI with high debt for proceedings under IBC, owes over Rs 44,000 crore to the IDBI Bank-led lenders consortium

Co-working space developer Smartworks expands Bengaluru operations; now offers a million sq ft country-wide

Smartworks plans is to grow its footprint by nearly 400 percent with its new centres in other tier-1 cities of Mumbai, Chennai and Hyderabad.

India suffers from a crisis of credible data, not jobs, and that makes for poor policymaking and meaningless debates

Disinformation over lack of jobs is so pervasive and rampant that many assumptions have become axiomatic truths.

IndiGo parent InterGlobe's shares tank 20% post weak Q4 results; market players dump airline stocks in early trade

IndiGo's parent InterGlobe Aviation on Wednesday reported 73 percent plunge in profit after tax (PAT) to Rs 117.64 crore for the March quarter as higher fuel costs and foreign exchange loss took a toll on its bottom line

Bearish bets on rupee surge to highest since August 2013, reflecting concerns about sustainable growth

India’s infrastructure growth slowed to a three-year low of 4.2 percent in the fiscal year ending in March, indicating Prime Minister Narendra Modi faces a tough challenge to boost investment ahead of general elections due early next year.

Tesla aims to roll out 5,000 cars a week; will add more factory jobs as Musk admits 'excessive automation' was a mistake

Elon Musk has also admitted that Tesla, his electric vehicle-making company has been too reliant on robots for production and the human workforce is underrated.

Gold loses shine: Demand falls by 12% to 115 tonne in Q1 due to high local price, says World Gold Council

In terms of value, the gold demand fell by 8 percent to Rs 31,800 crore, compared to Rs 34,440 crore in the same period of 2017

Xiaomi files for mega Hong Kong IPO, largest listing by a Chinese tech firm in 4 years; lifts lid on financials

Xiaomi's listing is expected to raise about $10 billion via the public offering, giving Beijing-based Xiaomi a market value of between $80 billion and $100 billion

Infosys' decision to mandate Srikantan Moorthy to oversee US talent acquisition is all about protecting its bottomline

Infosys could boost employee count in the US via acquisitions. It must have a healthy bottomline and any strategy that facilitates the same will be adopted.

Binani Cement insolvency: NCLT asks CoC to consider UltraTech's revised offer; Dalmia 'surprised' by order

The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana Properties Pvt Ltd (RRPL), if the Dalmia Bharat Group firm, was willing to raise its offer more than UltraTech's bid.

AirAsia India head Amar Abrol quits; to move back to parent co in Malaysia to work on strategic projects

The exit of Abrol comes days after its larger rival IndiGo had said that its president and whole-time director Aditya Ghosh would step down from the position in July.

Walmart-Flipkart deal: Amazon jumps into fray with formal offer to buy 60% of Flipkart

Amazon’s offer could kickstart a new battle between it and Walmart, already fierce retail rivals in the United States.

Draft telecom policy aims 40 lakh new jobs by 2022; $100 bn investment, 50 mbps broadband speed

The draft also proposes to address woes of debt-ridden telecom sector by reviewing licence fees, spectrum usage charges, universal service obligation fund levy -- all of which add to cost of telecom services

Walmart's looming acquisition of Flipkart will be a game changer for e-commerce in India; merger to boost job creation

Going by the recent news reports, US retail giant Walmart may soon foray into the e-commerce sector by acquiring a stake in Flipkart.

Employability in India: Talent crunch across industry forces stakeholders to point fingers at a spiritless education system

India's education system needs to do its bit to help students future-proof their employability levels.