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Mon,20 May 2013

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Infosys to challenge latest tax demand of Rs. 5.77 bn

Infosys Ltd, India's No 2 software services exporter, said today it would challenge a Rs. 5.77 billion ($105.3 million) income tax demand raised by the sgoverment earlier this month.

Markets open on a strong note; Sensex up 138 points

The BSE benchmark index Sensex surged by nearly 138 points in early trade today on sustained buying by funds and retail investors triggered by a firming trend on other Asian bourses.

Rupee down 10 paise against dollar, hits 2-1/2 month low

The rupee weakened by 10 paise to 54.98 against the dollar on the Interbank Foreign Exchange market in early trade today.

Rs 20,000-crore deals in push for rural broadband

The government’s Rs. 20,000-crore project to provide high-speed broadband in 200,000 villages across India has finally taken off. Manoy Gairola reports.

FinMin’s new amnesty scheme for service tax defaulters

Aimed at widening its revenue base from indirect tax collections, the finance ministry has implemented an amnesty scheme for service tax defaulters to pay their dues without any penalty.

Income Tax office slaps Rs. 577-cr tax demand notice on Infosys

Income Tax department has slapped a fresh Rs. 577-crore tax demand notice on Infosys for 2009-10 assessment year, adding to the tax woes of India's second largest IT firm.

Stock markets may see consolidation; SBI results soon

Stock markets may witness some consolidation this week after key indices closed at fresh multi-year highs and corporate earnings from SBI, Tata Steel and Larsen & Toubro will decide the course, experts said.

Panel probing Walmart’s lobbying charge submits report

A government-appointed committee that was looking into allegations of US retail major Walmart’s lobbying activities to enter the Indian market has submitted its report to corporate affairs minister Sachin Pilot on Saturday.

Overseas business margins under pressure: SBI

Public sector lender State Bank of India chairman Pratip Chaudhuri today said the lender's margins in overseas business were under pressure. However, NPA levels of the bank in the fourth quarter last fiscal remained low compared to third quarter.

Tata Motors raises 350 mn Singapore dollars via securities

Tata Motors today said it has raised 350 million Singapore dollars (about Rs. 1,525 crore) through issue of securities in Singapore, mainly for redemption of preference shares.

Markets welcome Pandit’s bank foray

The return of Vikram Pandit to India amid an expected flurry of new licences in the banking sector got a welcome salutetoday, as shares of his partner Nimesh Kampani’s JM Financial surged by 13%. HT reports.

Can’t stay invested? Lock in your money

Safe strategy: Put in funds to reap long-term gains but don’t forget to stash away enough cash to meet short and medium term needs. Lisa Pallavi Barbora reports.

Yahoo! talking deal, alliance with Tumblr: report

Yahoo! has begun talks with the popular blogging platform Tumblr about an acquisition or strategic alliance, the technology website AllThingsD reported today.

AI wants compensation for 787s not delivering 20% fuel savings

Air India has sought compensation from Boeing for Dreamliners not meeting the 20% fuel efficiency claims as the airline could achieve only a tad over 17% fuel economy by its six 787s, a source said.

Sensex advances for 4th day; up 39 points on higher inflows

Extending gains for the fourth day in a row, the BSE benchmark Sensex on Friday rose by 39 points, mainly on buying in power, capital goods and realty sector stocks amid increased foreign inflows.

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