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Sensex reclaims 35,000 mark; rises over 200 points on earnings optimism

The benchmark BSE Sensex gained almost 219 points to reclaim the 35,000-mark in early trade Tuesday as investors widened their positions ahead of quarterly earnings from some bluechip companies amid positive Asian cues.........

Flipkart, Amazon rake in big moolah, sell goods worth $2 billion; Flipkart alone clocks sales of $1 billion

In their respective festive 5-day sale offers, Indian e-commerce firms including industry leaders Flipkart and Amazon have recorded sales of $2 billion across categories such as smartphones, large appliances, and fashion etc.........

Amazon Likely to Buy 7-8 Percent Stake in Future Retail

Amazon.com Inc is likely to buy at least 7 per cent to 8 per cent stake in Future Retail Ltd through an investment arm. The potential cash-and-stock deal, which is in its final stages, could be worth 25 billion rupees ($338 million) and is likely to be signed in the next two weeks........

Mutual funds cannot use Aadhaar-based authentication

The UIDAI wrote to the mutual fund industry, the registrar and transfer agents (R&T) and some online distributors—asking them to discontinue using Aadhaar-based authentication to complete the Know Your Client (KYC) norms........

Air Asia India to Appoint Sunil Bhaskaran as New CEO

AirAsia India appointed Tata group veteran Sunil Bhaskaran as their new chief executive officer. Bhaskaran will take charge as the new CEO on November 15. The airline is a joint venture between Tata Sons Ltd and Malaysian AirAsia Berhad.........

India to raise import tariffs on electronic and communication items

India said on Thursday it will raise import tariffs on several electronic items and communication devices, in another move to rein in imports and bolster a falling rupee. The latest set of increased tariffs could ratchet up trade tensions with the United States and China, among other countries and hurt the network equipment makers ........

Ikea online store in India likely by March next year

Swedish furniture and home furnishings retailer Ikea of Sweden AB will start its online retail operations in India by March 2019. The company, which launched its first India store in Hyderabad on 9 August, will invest ₹ 1,000 crore for its 500,000 sq. ft Bengaluru outlet, which is expected to open in the summer of 2020.........

Stock market crash erodes over Rs 3 lakh crore from investor wealth

As the BSE benchmark index plummeted over 1,000 points during the morning trade Thursday, investor wealth got eroded by over Rs 3 lakh crore. Led by the sharp carnage in equities, the market capitalisation of BSE-listed companies slumped Rs 3,05,625.87 crore to Rs 1,35,59,695.82 crore........

P&G India fund to invest in Indian start-ups

Procter & Gamble India (P&G India) said it has established a multimillion-dollar fund to invest in Indian start-ups and pursue a collaborative growth strategy. It has also launched a first-of-its-kind programme, vGrow, which will identify and collaborate with small businesses, individuals and large organizations, and offer innovative industry-leading solutions.........

Rupee Hits New Low of 74.45 Against Dollar

Continuing its six-session losing streak, the rupee on Thursday plummeted to another low of 74.45 against the US dollar. Forex dealers said besides strong demand for the American currency from importers, concerns of fears of rising fiscal deficit and capital outflows weighed on the domestic currency.........

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Kingfisher launches first non-alcoholic drink Radler

India’s largest beer maker United Breweries Ltd (UBL) is entering the non-alcoholic beverages segment with the launch of its lemon-based drink brand Kingfisher Radler. The new Radler is a natural drink that is a blend of lemon juice and imported barley malts and is being launched in three flavours—lemon, ginger lime and mint lime.........

SBI to buy assets worth Rs 45,000 cr from NBFCs to resolve liquidity crisis

State Bank of India (SBI) said on Tuesday it will buy good quality assets worth Rs 45,000 crore from NBFCs that are facing liquidity crunch triggered by a series of debt repayment defaults by financial conglomerate IL&FS and its subsidiaries.........

Oyo set to enter Japan, tap into 2020 Olympic Games demand

Oyo Rooms, the newest unicorn in India, is all set to launch its operations in Japan as it eyes a dominant market share in Japan’s budget hotel market ahead of the 2020 Olympic Games. The Gurugram-based company has set up operations in five countries within the last 12-18 months.........

IMF projects India's growth at 7.3% in 2018, 7.4% in 2019

The International Monetary Fund (IMF) on Tuesday forecasted a growth rate of 7.3 per cent for India in the current year of 2018 and that of 7.4 per cent in 2019. In 2017, India had clocked a 6.7 per cent growth rate.........

Deadline for filing Income Tax return, audit report extended to October 31

Upon consideration of representations from various stakeholders, CBDT further extends the ‘due date’ for filing of Income Tax Returns as well as reports of Audit from 15th October, 2018 to 31st October, 2018.........

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Rupee crosses 74-mark against US dollar for first time as RBI holds rates, hits new low of 74.13

The rupee breached 74-mark against US dollar for the first time on Friday, as global oil prices continued to rise, deepening concerns about the current account deficit and capital outflows. The latest development comes after the Reserve Bank kept its key policy rate unchanged.........

RBI leaves repo rate unchanged at 6.50 per cent, reverse repo rate at 6.25 per cent

The Reserve Bank of India (RBI) in its fourth bi-monthly meeting left the repo rate unchanged at 6.50 per cent while the reverse repo rate remains at 6.25 per cent. The monetary policy stance has changed from neutral to ‘calibrated tightening’.........

Salaries in India Likely to Rise 10% in 2019: Report

Salaries in India are projected to rise the highest in the Asia Pacific region at 10 per cent in 2019. The median salary increase for 2019 at the executive level is projected at 9.8 per cent, and at 10 per cent for mid-management and production or manual labour.........