Category Archives: Business

Toyota hikes prices of select models by up to Rs 1.6 lakh

Toyota Kirloskar Motor (TKM) said on Wednesday it has increased prices of select models, including Innova Crysta and premium SUV Fortuner, ranging between Rs 13,000 and Rs 1.6 lakh. The decision to hike the prices has been prompted by the rise in cess from 2-7% across mid-size to large size cars and SUVs by the GST Council, TKM… Read More »

Honda reaches $605 mn settlement over defective airbags

Japanese carmaker Honda reached a $605 million settlement in a lawsuit over defective airbags in millions of cars on American roads, the legal team for the victims said Friday. Honda joins Nissan, Toyota, BMW, Mazda and Subaru in agreeing a deal to settle a lawsuit, replace the defective airbags from now-bankrupt Takata, and to compensate car owners. The… Read More »

Nandan Nilekani will not receive any remuneration for his current post: Infosys

India’s second largest IT services firm Infosys said on Friday that incumbent non-executive and non- independent chairman Nandan Nilekani will not receive any remuneration for his current post. In a BSE filing, the company said Nilekani’s office as director shall be subject to retirement by rotation and the remuneration proposed to be paid to him is nil. Nilekani… Read More »

Modi tells tax officers to register even small traders for GST

Prime Minister Narendra Modi on Friday told tax officers to work on a system to ensure that small traders are brought into the GST network, especially those with an annual turnover of less than Rs 20 lakh. Addressing central and state tax officers on the first day of the 2-day Rajasva Gyan Sangam in New Delhi, he also… Read More »

Nandan Nilekani back as Infosys chairman, Vishal Sikka resigns from board

A little over 36 years after he co-founded Infosys Ltd with six others and exactly a decade after he stepped down as its chief executive officer, Nandan Nilekani has returned to the company after he was unanimously named by the board as its non-executive chairman in a widely anticipated move. The appointment, a significant victory for co-founder NR Narayana Murthy… Read More »

Tata Sons hires Roopa Purushothaman as chief economist

Tata Sons today announced the appointment of Roopa Purushothaman as its chief economist and head of Policy Advocacy. Purushothaman, who will join Tata Sons with effect from September 1, comes from Everstone Capital, where she was leading the research function. “In her role, Purushothaman will drive macroeconomic research as well as all policy and advocacy initiatives as relevant… Read More »

Infosys shares rise on reports co-founder Nilekani may return to board

Shares in Infosys rose for a third straight day on Thursday, following reports that former chief executive Nandan Nilekani could return to the board to help the software services exporter ride out its latest controversy. The board has been locked in a dispute for months with the company’s founders, led by former chairman Narayana Murthy, who have accused the directors… Read More »

11 states may see Rs 9,500 cr revenue loss this year under GST

Even though as a whole states’ revenue may clip past at a CAGR of 16.6 per cent in FY18 over FY16 under the GST, 11 of them may need an additional Rs 9,500 crore compensation from the Centre this year, says a report. “All states combined will grow at a CAGR of 16.6 per cent in FY18 over… Read More »

Oil prices relatively even on wait-and-see Tuesday

Crude oil prices were relatively even early Tuesday as Libyan production resumes after a brief disruption, while anticipation stews over broader OPEC moves. Parties to an agreement from the Organization of Petroleum Exporting Countries to balance an oversupplied market with production declines are wrapping up meetings in Abu Dhabi that assessed compliance and quotas. The effort, implemented in January, brought… Read More »

Raytheon receives $66.4 million contract for SM-3 Block IIA missile

Raytheon Missile Systems has received a $66.4 million modification to an existing contract for the Standard Missile-3 Aegis Ashore ballistic missile defense program for the U.S. Missile Defense Agency. The modification will provide for engineering work, support services and analysis of the SM-3 Block IIA missile and BMD 5.1 flight testing and certification. The work will be conducted in Tuscon,… Read More »