Dr Reddy's was the top loser in the Sensex pack, shedding around 5 per cent, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS. NSE Nifty sank 306.05 points to finish at 14,675.70.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The central bank has not set a deadline for banks to conclude the stress-test exercise, but senior bankers opine that some were already looking at this, and will now fast-track it by September-end, when they will have a better picture of their books after the moratorium on the servicing of loans and a 180-day view on the performance of borrowers' accounts.
The government has sacked these officers ranging from the ranks of principal commissioner to assistant commissioner, some of whom were already under suspension.
In her four-page resignation letter addressed to the prime minister, she said, 'In view of the decision of the government of India to go ahead with the Bill on the issue of marketing of agricultural produce without addressing and removing the apprehensions of farmers and decision of my party, Shiromani Akali Dal, not to be a part of anything that goes against the interest of farmers, I find it impossible to continue to perform my duties as a minister in the union council of ministers.'
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
The combativeness reflects her insistence not to meekly acquiesce to what has been going on in Raisina Hill for years or decades, observes Kartikeya Tanna.
It was waiting to happen after India's unceremonious World Cup exit and on Wednesday the Board of Control for Cricket in India ended Virat Kohli's run as India's white-ball captain with a rather matter-of-fact statement, handing the reins to Rohit Sharma "going forward".
The two independent brands Vodafone and Idea will be phased out, and the legacy of the two companies will reflect in the common brand -- Vi.
Govt's decision to allow in-flight Wi-Fi doesn't take off with budget airlines, full-service carriers enthused
Ganguly himself faced the heat after allegations of conflict of interest were levelled against him for his dual role as the president of Cricket Association of Bengal (CAB) and mentor of IPL franchise Delhi Capitals.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
Uttam Ghosh on how rail passengers will benefit from the Railway Budget.
Only asymptomatic passengers with confirmed e-tickets will be allowed in these trains and they will have to report at the station at least 90 minutes ahead of the scheduled departure.
Former Test umpire and Hampshire cricketer John Holder is among those who have called for an independent inquiry into the dearth of non-white match officials in English cricket.
Five young women are getting ready to circumnavigate the world.
Emirates has been voted as the world's best airline.
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Chaudhary conveyed the message to Shetty through an e-mail.
HAL is poised to sell the Philippines at least seven Dhruv Advanced Light Helicopters and eight Dornier 228 aircraft for Rs 30 billion, reports Ajai Shukla.
After news of KV Kamath stepping down as the non-executive chairman, Infosys is on the hunt for filling up the post.
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The newly appointed CMD at Coal India has a tough road ahead.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
To understand the problem with public examinations we need to understand the different objectives they serve and how they interact and conflict with each other.
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
'I told myself, I will be 23 next year. Why can't I be a billionaire too?'
'As engineers, as alumni and as Indians, we should be concerned about today's leadership that is making tomorrow's leaders at our IITs,' says Air Marshal P V Athawale PVSM, AVSM, VSM (Retd).
'My brave JCO managed to get to the gun, sit on top of the dead man and fired away at the attacking aircraft till they melted away into the darkness.'
This provision is a very smart rule against fraudster and would not affect any genuine business entities or Ease of Doing Business in any manner, said a source.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
England's players will wear the names of selected COVID-19 workers with cricketing backgrounds on their training shirts during the upcoming Test series against West Indies in recognition of their selfless services. The England and Wales Cricket Board (ECB) has announced that the three-match Test series, to be played behind closed doors at The Ageas Bowl and Old Trafford due to the pandemic, will be named "raise the bat" series as a tribute to those on the frontline.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
Balakrishnan refused to react to the India Inc criticism of growing incidents of tax terrorism following Siddhartha's letter. Appearing unfazed, he said, "I only believe in doing my job well."
Railway Minister Suresh Prabhu announced new initiatives.
The chairman's post will soon fall vacant, but that's not the only one that needs to be filled.
Indian Railways to bring on board ready-to-eat food companies
Nobody bothered to articulate the upsides; instead, the four-year tour of duty and denial of life-long pensions got played up.
Job-seekers for government and related opportunities found that their future was at risk, points out Shreekant Sambrani.
William D Green, chairman and CEO of Accenture, the $20 billion global management consultancy and technology services company, is in India to chair a select meet of the board of directors. On global economy, he said that there are some pockets of challenges (slowdown) and other pockets of great success (accelerators). "Firms will continue to outsource and offshore as they aspire to become globally efficient and locally responsive," he said.
