Business

Staging a strong recovery, the rupee on Friday gained 7 paise to end at 67.76 against the American currency, a day after succumbing to pressure created by US Federal Reserve's rate hike.

The impact of the rate increase on the US economy will be negligible.

In a stern warning to assesses trying to misuse the provision of revising I-T returns, CBDT on Wednesday said those "drastically" altering the forms to revise income will face scrutiny and penal action.

To tap opportunities arising out of limited cash supply, SBI Cards will soon launch a credit card with a cap of Rs 25,000 for those at the lower strata of the society, who have the capacity to pay but don't have cards, a top company official said.

The companies include Ambuja Zinc, Asian Alloys, Elder Telecom, Hindustan Breweries & Bottling and Zenith Steel Tubes and Industries.

The government is likely to amend the Reserve Bank of India Act to extinguish the validity of Rs 500 and Rs 1000 printed before November 9 and a reference to this effect would be made in the upcoming Budget.

"We do hire local people by the thousands, and we'll have to adjust some of that depending on what kind of a policy is put into plac

Ratan Tata has written a sharply worded letter to shareholders seeking their support to oust “disruptive” Cyrus Mistry as director from group companies. Tata has cited Mistry’s “hostility” towards Tata Sons as a reason for seeking his removal.

Luxury carmaker Mercedes-Benz India said on Wednesday footfalls at its showrooms across the country fell by up to 60 per cent in November due to banning of high denomination notes by the Union government.

Rising for the second straight day, the 30-share index was trading higher by 119.88 points, or 0.45 per cent, to 26,468.98, with realty, power, oil and gas, capital goods, PSU and IT stocks leading the gains.

Overall, the idea of moving to a cashless society is 'good', Amit Agarwal, VP and Country Head, Amazon India said.

The union leaders were paraded before the waiting media and Tata Motors did not get the benefit of a key work reform measure, he added.

India’s services sector, accounting for nearly 60 percent of the economy, contracted in November for the first time in one and a half years as a result of cash shortages after demonetisation, even as Prime Minister Narendra Modi on Monday said that the ec...

To help its employees tide over the cash shortage the company has tied up with four provision stores in Ambur.

Many jewellers estimate an 85-90 per cent dip in business post-demonetisation -- but exports have been unaffected.

FMCG major Hindustan Unilever Ltd (HUL) on Monday said market growth would be "adversely impacted" in short term due to the ongoing demonetisation scheme of the government and GST but in the long term it would be "win-win for everyone".