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Smartphone sales in India dip 7per cent. in Q1: CMR
Published on Wednesday, May 6, 2015 6:22 PM

Weighed down by changes in duty structure and restricted supplies from China, Smartphone sales in India declined 7 per cent in the first quarter of this year to 19.5 million units, Cybermedia Research said. The overall mobile handsets market in the country, including feature phones, declined 15 per cent to 53 million units in the January-Marc ...

Smartphone sales in India dip 7per cent. in Q1: CMR
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SREI Infrastructure Finance says may dilute or divest stake in tower operator Viom
Published on Wednesday, May 6, 2015 5:03 PM

MUMBAI  - SREI Infrastructure Finance Ltd said on Wednesday it, along with other investors, may either dilute or divest stake in unlisted telecom tower operator Viom Networks.

SREI holds about 18 percent stake in Viom, which is majority owned by Tata Teleservices Ltd. Four private equity investors includ ...

SREI  Infrastructure Finance says may dilute or divest stake in tower operator Viom
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Lok Sabha passes goods and services tax reform
Published on Wednesday, May 6, 2015 4:51 PM

NEW DELHI  - The Lok Sabha on Wednesday passed a bill that seeks to transform the country into a common market, harmonising state and central levies into a national goods and services tax which is expected to boost manufacturing.

The Rajya Sabha will now have to pass the constitution amendment bill, afte ...

Lok Sabha passes goods and services tax reform
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Reliance Communications says looking to monetise tower assets
Published on Wednesday, May 6, 2015 2:52 PM

MUMBAI - Reliance Communications Ltd  said on Wednesday it had invited proposals from investment banks to monetise assets of the company's tower unit, Reliance Infratel, within the year ending March 2016.

The country's No. 4 telecom operator, which had a net debt burden of close to $6 billion at ...

Reliance Communications says looking to monetise tower assets
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India not interested in high sales tax rate - Finance Minister
Published on Wednesday, May 6, 2015 2:05 PM

NEW DELHI- The central and state governments are not interested in imposing higher goods and services tax (GST) rates that could hurt people, Finance Minister Arun Jaitley told lawmakers in the lower house of parliament on Wednesday.

The proposed GST would harmonise a mosaic of state and central levies into a ...

India not interested in high sales tax rate - Finance Minister
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HPCL revises down May petrol import demand
Published on Wednesday, May 6, 2015 12:41 PM

SINGAPORE  - Hindustan Petroleum Corp Ltd (HPCL) has revised down its petrol May imports to a total of 52,000 tonnes from an initial 57,000 tonnes, traders said on Wednesday.

It is now looking to buy a total of 30,000 tonnes of petrol for May 15-23 delivery to Mundra, down from its original target of a t ...

HPCL revises down May petrol import demand
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AXA wins India approval to raise stake in Bharti insurance joint ventures
Published on Wednesday, May 6, 2015 12:21 PM

MUMBAI - Europe's second biggest insurer AXA has won the Indian government's approval to raise its stake in two local insurance joint ventures with Bharti Enterprises to 49 percent, a government statement showed.

In March, foreign ownership limit in Indian insurance companies was lifted to 49 percent ...

AXA wins India approval to raise stake in Bharti insurance joint ventures
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Services growth loses more steam in April - PMI
Published on Wednesday, May 6, 2015 11:06 AM

BENGALURU - Growth in India's dominant services industry continued to lose momentum in April as domestic demand softened, a business survey showed on Wednesday.

Coupled with a slowing manufacturing sector and falling inflation, the findings are likely to strengthen expectations that the Reserve Bank of In ...

Services growth loses more steam in April - PMI
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GDP growth may pick up pace and expand 7.8% this fiscal: HSBC
Published on Wednesday, May 6, 2015 9:38 AM

India's GDP growth is likely to pick up pace and expand by 7.8 per cent during this fiscal and higher next year on the back of improved urban consumption, says a HSBC report. "We expect actual GDP growth to pick-up pace gradually from 7.4 per cent in FY15 to 7.8 per cent and 8.3 per cent over the next two years on the back of improve ...

GDP growth may pick up pace and expand 7.8% this fiscal: HSBC
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