MOIL revises prices of manganese ore

State-owned manganese-ore mining company MOIL on Monday said it has revised prices of different grades of manganese ore, with effective from July 01, 2017. “The prices of various grades of Manganese Ore have been revised, the average increase being 4.6 per cent on an weighted average basis,” said MOIL in a filing to the Bombay Stock Exchange.

MOIL have reduced the free cre

India bonds slump after RBI announces open market bond sale


Indian government bonds yields rose sharply on Monday after the central bank announced an open market sale of debt to mop up excess liquidity that filled the country's banking sector following last year's demonetisation push.

The announcement from the Reserve Bank of India late on Friday on a 100 billion rupees ($1.55 billion) sale of govern

Sensex rises; ITC surges on GST boost

Indian shares rose nearly 1 percent on Monday, heading for a third straight session of gains as consumer goods makers such as ITC Ltd surged on hopes the newly implemented goods and services tax (GST) would reduce retail prices and boost sales.

India on Saturday rolled out its biggest tax reform in the 70 years since independence from British colonial rule, replacing more than a dozen

GST will boost revenue, positive for Indian credit profile: Moody's

The just effected Goods and Services Tax (GST) regime in India is positive for the country'scredit profile as it would increase government revenues through improved tax compliance, US ratings agency Moody's said on Sunday.

"It (GST) will support higher government revenue generation through improved tax compliance and administration. Both will be positive for India

GST impact, global cues to set market trajectory

The impact of Goods and Services Tax (GST), coupled with global cues, are expected to determine the trajectory of key domestic stock exchanges in the upcoming week.

According to market observers, key macro-economic data points released after market hours on last Friday, like the eight core industries (ECI) figures, external debt and fiscal deficit data, will heavily influence the

Confused about GST rates, many refrain from doing business

After the countrywide launch of the Goods and Services Tax (GST) on Friday midnight, many businessmen in Delhi-NCR on Saturday seemed confused about the new indirect tax regime, with some even refraining from buying and selling any products.

However, there were some who found different ways of generating bills, while a number of businesses with updated software generated bills wi

Tata Motors' June sales down 9%

utomobile major Tata Motors on Saturday reported that its total sales including exports during June declined by nine per cent to 40,358 units from 44,525 vehicles sold during the same month last year.

The automobile major said its domestic sales for last month fell by five per cent to 36,854 units from 38,718 units sold in June 2016.

"Mixed consumer sentiments

Chartered accountants a big pillar of Indian economy: Narendra Modi

 Prime Minister Narendra Modi on Saturday called chartered accountants a "big pillar" of the Indian economy and urged them to bring technological innovations to meet global standards.

Addressing CAs at an event organised by the Institute of Chartered Accountants of India (ICAI), Modi said "You (CAs) take care of the economic health of the country and you are f

Country will benefit immensely from GST: Arun Jaitley

 Finance Minister Arun Jaitley has said the Goods and Services Tax (GST) that was rolled-out from Saturday across the nation is a modern, efficient tax system and the country will get immensely benefited from this.

"The government wanted a modern and efficient tax system through GST. And we wanted it to be assessee friendly, taxation friendly and a simple procedure. The

M&M's June sales down 8%

Leading SUV manufacturer Mahindra & Mahindra (M&M) on Saturday reported a decline of eight per cent in its overall sales for June.

According to M&M, its total sales for the month under review declined to 35,716 units from 39,009 units sold during June 2016.

The company's domestic sales was lower by three per cent to 33,861 vehicles during last month

Mixed opinions as many Kolkata traders confused, clueless about GST

On the first day of business under the GST regime on Saturday, there was mixed reaction from traders -- iconic outlets to the small roadside shops -- in Kolkata but many complained of being totally clueless about the new system.

While some jacked up prices to pass on the enhanced tax rates to the consumers, others said they were bearing losses, unable to fathom the billing proced

Hyundai`s June domestic sales down 5.6%

Automobile major Hyundai Motor India on Saturday reported a 5.6 per cent decline in its domestic sales for June 2017.

According to the company, its domestic sales decreased to 37,562 units from 39,807 units off-take for the corresponding month of 2016.

However, the company's January-June sales edged up by 4.1 per cent to 253,428 units from 243,442 units.


Maruti Suzuki`s June sales up 7.6%

 Automobile major Maruti Suzuki India on Saturday reported a rise of 7.6 per cent in its monthly sales for June.

According to the company, its total sales during the month under review rose to 106,394 units from 98,840 units sold during the corresponding month of 2016.

Maruti's domestic sales inched up by 1.2 per cent to 93,263 units from 92,133 units.


GST effect: Maruti Suzuki reduces vehicle prices by up to 3%

 Automobile major Maruti Suzuki India on Saturday said that it has passed on the entire benefit of GST (Goods and Services Tax) rates on vehicles to its customers.

According to the company, after the implementation of GST, the ex-showroom prices of its models have come down by up to three per cent. 

"The rate of reduction varies across locations depending on t

Infosys names TVS Capital executive as director

 Infosys Ltd appointed TVS Capital Funds Ltd Vice-Chairman D. Sundaram as an independent director on its board, the software major announced on Saturday.

"Sundaram is appointed as independent director with effect from July 14 on the recommendation of the company's nomination and remuneration committee of the board," said the IT giant in a statement here after a regu

Equity markets turn sluggish on GST caution, global cues

Caution ahead of the launch of the country's biggest indirect tax reform -- the Goods and Services Tax (GST) -- tightened the bear grip over the Indian equity markets, which settled in the negative territory for the third week in a row.

Weak global cues and June derivatives expiry, too, added to the volatility in the equity markets.

On Friday, the 30-scrip Sensit

Automakers, retailers lure customers with discounts as GST kicks in

By Jatindra Dash and Fayaz Bukhari

MUMBAI - Some of India's biggest automakers and retailers announced price cuts on Saturday as Asia's third-largest economy switched to a new nationwide sales tax at the stroke of midnight, replacing a host of provincial and national levies.

The Goods and Services Tax (GST), India's biggest tax reform in the 70 y

Reliance Capital`s Madhusudan Kela moves to part-time advisory role

 Reliance Capital on Friday said that Madhusudan Kela will be moving into a "part-time advisory" role from July 1, 2017.

According to the company, Kela intends to devote a significant portion of his time on spiritual and philanthropic pursuits with the renowned spiritual leader, Sadhguru, and the Isha Foundation. 

"Considering his deep and valuable c

SEBI toughens rules for credit rating agencies

By Rafael Nam and Abhirup Roy

MUMBAI  - India's market regulator on Friday set tougher rules for the country's ratings agencies, including mandating them to more closely monitor whether issuers are meeting their debt obligations and increasing disclosure requirements.

Regulators and market participants argue the agencies were slow to adjust rati

CDSL stocks close at 75% premium over its issue price

Shares of Central Depository Services (CDSL) on Friday closed at Rs 260.70 per share on the National Stock Exchange (NSE) -- an almost 75 per cent premium over its issue price of Rs 149 per scrip.

The shares of the depository arm of the BSE on its debut on the NSE opened 67.78 per cent higher at Rs 250 per share from its issue price.

According to data from the stock exchange

RBI says severe credit shock may hit capital levels at some lenders

MUMBAI  - The Reserve Bank of India (RBI) said on Friday the country's financial system remained "stable", but warned its stress tests showed that a "severe" credit shock would likely impact the capital adequacy and profitability of a significant number of banks.

The assessment, contained in the RBI's semi-annual Financial Stability Re

India`s end-March external debt rises to $471.9 billion

NEW DELHI - India's end-March external debt was at $471.9 billion, up $15.8 billion from end-December, the Reserve Bank of India said in a statement on Friday.

The country's external debt in March 2017 was, however, lower compared with $485 billion a year ago, the statement showed.

On a residual maturity basis, short-term debt constituted41.5 percent

India`s infrastructure output grows 3.6 percent in May

NEW DELHI- India's annual infrastructure output grew 3.6 percent in May, mainly driven by a pick up in refinery output and electricity generation, government data showed on Friday.

The output grew a revised 2.8 percent year-on-year in April.

Annual growth in refinery production rose 5.4 percent last month from 0.2 percent in April, while electricity prod

Government had 105.36 billion rupees outstanding loans from RBI in June 23 week

The government had 105.36 billion rupees ($1.63 billion) outstanding loans with the central bank under ways and means

advances in the week ended June 23, according to the Reserve Bank of India's weekly statistical supplement released on Friday.

The central government had no outstanding loans in the week earlier.

State governments had 19.30 billion rupees loans

Equities close higher ahead of GST, consumer durables surge

The Indian equity markets on Friday pared all its morning losses to provisionally close in the green just ahead of the launch of the country's biggest indirect tax reform -- Goods and Services Tax (GST) -- at midnight.

According to market observers, positive European markets and healthy buying in consumer durables, FMCG and healthcare stocks trimmed losses and pushed the key equit