ITC shares tank 15% as govt hikes cigarette cess

Shares fell on Tuesday from record highs hit in the previous session as the country’s biggest cigarette maker and index heavyweight ITC Ltd plunged after the federal government increased tax on cigarettes. Tax on cigarettes were raised on Monday, resulting in an increase of as much as Rs 792 ($12.31) for every 1,000 cigarettes. The new rate will More...

by Loknath Das | Published 4 months ago
By Loknath Das On Monday, July 17th, 2017
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US firms face hiring difficulties, business survey says

A growing share of US employers are struggling to hire new workers and some have raised wages as a result, according to a survey released Monday. The National Association of Business Economists said its quarterly More...

By Loknath Das On Friday, July 14th, 2017
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Tata Motors Global Sales Fall 1.7% In June

New Delhi: Tata Motors on Wednesday reported a 1.71 per cent decline in global sales at 90,966 units last month, including Jaguar Land Rover (JLR). Tata Motors had sold 92,551 units in June 2016, it said in a statement. In More...

By Loknath Das On Tuesday, July 11th, 2017
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Car, Passenger Vehicles Sales Drop 11% In June

New Delhi: Domestic passenger vehicle sales declined by 11.21 per cent to 198,399 units in June from 223,454 units in the same month last year. Domestic car sales were down 11.24 per cent to 136,895 units as against More...

By Loknath Das On Saturday, July 8th, 2017
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Glenmark Pharma Gets USFDA Nod For Hypertension Medicine

New Delhi: Glenmark Pharmaceuticals has received final approval from the US health regulator for Amlodipine and Olmesartan Medoxomil tablets, used in the treatment of hypertension. “Glenmark Pharmaceuticals More...

By Loknath Das On Tuesday, July 4th, 2017
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Reliance Jio Grabs 6.4% Market Shares In 2016

New Delhi: Leading telecom majors Bharti Airtel, Vodafone and Idea Cellular saw their market shares shrinking in 2016, giving way to aggressive newcomer Reliance Jio that ended the year with 6.4 per cent market More...

By Loknath Das On Thursday, June 29th, 2017
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Indian IT Export To Grow 7-8% In Current Fiscal, Says Nasscom

Hyderabad: Indian IT export is projected to grow by 7-8 per cent in 2017-18, industry body Nasscom said in its guidance today. The domestic market is expected to grow 10-11 per cent, it said. The IT-BPM industry More...

By Loknath Das On Thursday, June 22nd, 2017
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Telecom Sector Woes Do Not Pose Systemic Threat To Banks, Says Fitch

Mumbai: In the wake of recent liquidity crisis at Reliance Communications, global rating agency Fitch Ratings today said though the country’s banks do not have large exposure to the telecom sector, but defaults More...

By Loknath Das On Tuesday, June 20th, 2017
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General Motors India dealers to meet this week over ‘measly’ compensation issue

Dealers of General Motors in India have decided to meet later this week to decide on the future course of action, including taking the legal route, against the American automaker over measly compensation. A majority More...

By Loknath Das On Saturday, June 17th, 2017
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Reduce GST on yarn from 18 to 12%: Textile industry

The Textile industry in the region today expressed the hope that the June 18 GST council meeting would consider reducing the GST rate on Man Made Fibres, filaments and yarns from 18 per cent to 12 per cent. There More...