Business

The government is planning to float Expression of Interest (EoI) for selling its entire 100 per cent stake in the loss-making flag carrier some time next week.

Besides giving relief to the domestic industry and boosting employment, the move to keep imports down and help to raise revenue. Many of these are industries which are essentially concentrated in the small and medium sectors and employment intensive.

The Supreme Court had on October 24 ruled that statutory dues need to be calculated by including non-telecom revenues in what is known as adjusted gross revenues (AGR) of telcos.

At 1:02 pm, the benchmark BSE Sensex was trading at 41,854.69, down 5 points, or 0.01%, while the Nifty 50 index was up 6.55 points, or 0.05%, to 12,336.10.

Infosys on Friday after market hours said Q3 consolidated net profit jumped 11% compared with the previous quarter to Rs 4,457 crore (up 23.5% year-on-year) on the back of higher other income and lower other expenses.

The Nifty Realty Index closed the day higher by 2.7% after climbing as much as 2.9% at the highest point of the day. All the constituents of the index closed in the green.

Professor Abhijit Banerjee said introduction of a wealth tax in the Union Budget 2020 was the 'natural way to go' as the country's tax base is thin.

Talking to reporters, Yashwant Sinha also demurred Prime Minister Narendra Modi holding 'pre-budget consultation', saying it is 'unprecedented' and asked what the latter's Finance Minister is doing.

Gold rose following rise of geo-political uncertainty and weaker rupee, HDFC Securities Head - Advisory (PCG) Devarsh Vakil said.

Mistry, the ousted Tata Sons chairman, in a public statement on late Sunday evening said he has taken the decision in the overall interest of the Tata group, whose interests are far more important than those of any individual.

Shares of sister firms IIFL Finance Ltd and IIFL Wealth Management Ltd also soared 7.5% and 3%, respectively. Rakesh Jhunjhunwala’s RARE Enterprises bought 27.85 lakh shares of IIFL Securities through a bulk deal on BSE on 2 January.

In order to encourage digital economy and move towards a less-cash economy, a new provision was inserted in the Income Tax Act to require every person having a business turnover of more than Rs 50 crore to mandatorily provide facilities for accepting paym...

This implies that all operators, backed by equipment vendors they have decided to partner with, will be able to participate in the upcoming 5G trials in the country, and the stance is expected to spell a relief for Chinese gear maker Huawei.

In October this year, the government approved a revival package for BSNL and MTNL that includes merging the two firms, monetising their assets and giving VRS to employees.

The Irdai action will benefit all lenders of Reliance Capital as sale proceeds of RGICL's shares will go to all lenders and not just Credit Suisse and Nippon India MF.

AK Chaudhary, SAIL's current chairman assumed the position in September 2018, is scheduled to retire in December 2020. However, on the government's approval, chairman of a public sector undertaking can get an extension.