This was part of a set of clarifications issued by DIPP on the norms to be used to treat downstream investments by Indian companies which have foreign equity, termed Press Note 4. Investing company means an Indian one holding only investments in other Indian companies. Foreign owned or controlled means either having foreign ownership in excess of 50 per cent or non-residents having powers to appoint a majority of board members.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
DDT is levied at the rate of 20% on dividend paid by cos to shareholders.
The government on Thursday approved Rs 20,001 crore in additional cash subsidy to state-owned oil companies to compensate them for selling fuel below cost in 2010-11 fiscal. With this, the government has paid a total of Rs 40,912 crore in subsidy to oil companies in 2010-11 financial year, an oil ministry official said.
Microsoft chief Satya Nadella said the tech giant will fund hundreds of new generation entrepreneurs in India's 'smart cities' space and is overwhelmed by the start-up culture in the country, especially in e-commerce.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
Information technology firms that announced a boycott of the city's annual IT exposition protesting poor infrastructure received support from National Association of Software and Service Companies
RBI and Sebi are close to reaching an agreement for providing waiver of existing norms to banks.
Large Indian firms may have to adopt international accounting norms, IFRS, from the next fiscal when the new direct tax regime comes into effect, bringing clarity on the tax structure for companies.
The market valuation of ITC slumped Rs 18,863 cr to Rs 2,68,725 cr, taking the steepest hit among the top 10 firms.
With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup.
India on Monday invited South Korean oil companies to invest in the country's upstream and refining sector and also work jointly to explore opportunities in other countries.
Upset over the government "not keeping its word" on improving infrastructure in Bangalore, India's tech capital, a group of top software companies have decided to boycott Karnataka's flagship IT event, "Bangalore.IT.COM 2005," to be held in October.
Leading pharmaceutical company Lupin Ltd on Wednesday said it was looking at acquiring companies and brands in a bid to strengthen its paediatric business in the US market.
In order to become major players in the global economy, Indian companies need to break free from the nation's feudal mindset, according to a new report released by The Conference Board.
On her maiden visit to India, US Food and Drug Administrator Margaret A Hamburg has said recent lapses in quality by a handful of pharma companies has overshadowed the good things done by other Indian companies, who emphasise on quality products and practices.
The product will enalble Japanese companies to jumpstart their business operations in India in a short time.
Australia is abolishing the 457 visa, which, brings temporary foreign workers into the country
As many as 61 companies hit the primary market in the 2010-11 fiscal.
Marico's chief executive officer (Consumer Products Business) Saugata Gupta, too, affirmed that his company was being cautious in dealings with such retailers. FMCG companies work on tight credit cycles. On the other hand, modern trade retailers such as Aditya Birla Group's More, RPG's Spencer, Mukesh Ambani group's Reliance Fresh, Subhiksha and Vishal have been expanding aggressively over the last couple of years.
Besides, National Stock Exchange has lowered the daily permissible trading price limits for 24 stocks.
Leading power players Reliance Infrastructure and GMR Energy believe this will help ensure coal availability for their mega projects in the pipeline. "They have various proposals on their table, which are relatively cheaper when compared to the scene before the beginning of the financial crisis. However, the acquisitions will depend on the ability of the acquirers to raise funds as the banks have stopped lending at cheaper rates," said a source.
Companies say they have ensured that services to clients remain unaffected.
Interview with The Insead chaired professor of 'Marketing and Innovation'.
Protesting against imposition of levy on roaming calls to be paid to state owned BSNL as announced by TRAI, cellular operators have challenged the order in TDSAT saying "the order is arbitrary and anti-consumer."
Even as the economic crisis ravages global markets, the two billionaires are making investments in firms from America to Australia. According to reports, Soros snapped up a five per cent stake in Australian firm Sphere Investments. In October, he acquired over five per cent of Australian mining firm Legend International. Buffett has bought preferred shares worth $ 5 billion from Goldman Sachs. In addition, he has acquired preferred stocks worth $ 3 billion dollars in GE.
The new corporate governance norms for listed companies, currently being finalised by the Securities and Exchange Board of India, may also mandate greater disclosures regarding IPOs, sources said.
The trend is expected to remain bullish in 2015, global consultancy Grant Thornton said
State-owned oil producers are planning to upgrade security arrangements protecting their oil installations in Assam following a series of bomb blasts on Thursday that left many dead and injured.
Acting seriously against fly-by-night operators, government has filed first information report against 76 vanishing companies, which are believed to have eloped with crores of investors' money.
From a business perspective, local manufacturing of mobile handsets not only acts as a safeguard against possible barriers to cost-effectively importing handsets, but also ensures that domestic handset companies will be able to better serve Indian consumers, by reacting to changing trends and needs faster while ensuring that quality is maintained.
In the ranking of top 10 firms, TCS retained its numero- uno position
The stock exchanges have raised various concerns mainly about two UB Group firms -- Kingfisher Airlines and United Spirits -- for not providing required disclosures and not adhering to deadline regarding finacial results and the annual general meeting.
Fund-raising by Indian companies through issue of shares to institutional investors is gathering pace, rising to Rs 2,211 crore in August highest in a month during the current fiscal.
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
SpiceJet grounded all its aircraft due to payment woes
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