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HindustanTimes Wed,03 Sep 2014

Business

Sensex surges past 27,000 to third consecutive life high

Bombay Stock Exchange
The BSE Sensex on Tuesday surged past the psychologically key level of 27,000 to a third consecutive record high as blue-chips such as HDFC Bank gained after recent data raised hopes about the economy.

Now Jet Airways announces Rs. 500 fare offer on domestic route

Bombay Stock Exchange
A day after budget carrier SpiceJet announced fares starting at Rs. 499 across its domestic network, Jet Airways too jumped on the bandwagon rolling out Rs. 500 fares for the economy class on its domestic flights for a limited period on Tuesday.

CBDT panel to scrutinise new cases of retrospective taxation

Arun Jaitley
The Central Board of Direct Taxes has set up a high-level committee to scrutinise fresh cases arising out of the retrospective amendments of 2012 in respect of indirect transfers.

Hero MotoCorp appoints Sanjay Jorapur as chief HR officer

Hero MotoCorp Ltd
Sanjay, who is scheduled to join the company later this month, would be part of the senior leadership team at Hero MotoCorp and will report to manging director and CEO Pawan Munjal, the company said in a release.

Gold falls to near one-week low on dollar strength

gold
Gold fell to its lowest level in nearly a week on Tuesday as a stronger dollar outweighed any safe-haven demand from lower equities and heightened tensions over Ukraine.

Bajaj Auto reports 8% increase in August sales

Bajaj Auto
Two-and-three wheeler manufacturer Bajaj Auto Tuesday reported an increase of 8% in its sales for August which stood at 336,840 units against 312,188 units sold in the like month of 2013.

Banks to put mid-size, big loans under lens

banking
With the loan books of public sector banks coming under scrutiny in the wake of the Syndicate Bank scam, top managements and even branches of state-owned lenders have decided to inspect all mid- and big-size loan books to ensure there are no discrepancies or unfair play.

United Bank declares Mallya wilful defaulter

CEO of Kingfisher Airlines Limited Vijay Mallya.
Kolkata-based United Bank of India (UBI) on Monday declared UB Group chairman Vijay Mallya, his grounded airline Kingfisher Airlines (KFA) and three directors on its board, Ravi Nedungadi, Anil Kumar Ganguly and Subash Gupte wilful defaulters.

RBI asks banks to set timeline to process loans

RBI
To expedite credit decisions, the Reserve Bank of India on Monday asked banks to set a timeline for disposal of loan proposals but did not ascribe a particular timeframe for the same.

Good signs from global market, diesel decontrol imminent: Pradhan

Fuel price
Hinting that deregulation of diesel prices was imminent, oil minister Dharmendra Pradhan on Tuesday said there were good signals from international market and his ministry will approach the appropriate forum for freeing of rates.

12 Indian firms in Forbes' 50 best companies in Asia-Pacific

Forbes
Tata Consultancy Services (TCS),HCL Technologies and HDFC Bank are among the 50 best public companies in Asia-Pacific according to a?compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines".

Kingfisher to challenge Union Bank's decision

3
Hours after the Supreme Court refused to entertain a petition filed by Kingfisher Airlines against being declared wilful defaulter by Union Bank of India, the airline on Tuesday said it would 'vigorously challenge' the bank's decision.

Samsung Electronics says may acquire rest of Samsung Medison

Samsung
Samsung Electronics Co Ltd said on Tuesday that it is considering acquiring the shares of unlisted medical equipment maker Samsung Medison Co Ltd that it does not currently own. It controls about 68.5% of Samsung Medison.

Diesel deregulation on the cards; losses hit all-time low of 8p/litre

A petrol-pump employee filling fuel
Diesel prices may soon become market-linked as in the case of petrol as deregulation looks imminent with losses of oil companies on diesel sales dropping to an all-time low of just 8 paise a litre.

Rupee at two-week low of 60.68 on sustained dollar demand

Currency
The rupee hit two-week closing low of 60.68 by losing 15 paise against the dollar on consistent demand for the US currency from importers and some banks on strong global cues, continuing its downward trend for the fourth straight session.

Nifty ends above 8,000-mark for 1st time; Sensex at new peak

Bombay Stock Exchange
Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,812.69 in opening trade on Monday on the back of positive economic growth data for the April-June quarter.
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