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Top 10 biz headlines: IndiGo row, surcharge on FPIs, IIP growth, and more

BS Web team/New Delhi 13 Jul 19 | 07:45 AM

IndiGo promoters' war: Can work with Bhatia if system fixed, says Gangwal


IndiGo co-promoter Rakesh Gangwal has said if the corporate governance structure in the company is improved, he’s open to working with Rahul Bhatia. Read more here

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Infosys raises revenue forecast by 10%; net up 5% in first quarter


Infosys, the country’s second-largest IT services company, on Friday announced a sound set of numbers for FY20. Read more here


Manufacturing, mining pull down industrial output growth to 3.1% in May


Manufacturing and mining pulled down industrial output growth to 3.1 per cent in May, compared to 4.3 per cent in April. Experts partially attributed this to cut in private spending during elections. Read more here


Budget impact: Surcharge hike likely to hit global passive funds


The surcharge on foreign portfolio investors (FPIs), introduced by Finance Minister Nirmala Sitharaman in her maiden Budget last week, may dent the returns of passive funds that invest in India, affecting their ability to mimic the benchmark returns, experts say. Read more here


Pension, provident funds to get top priority in repayment from IL&FS: NCLAT


The National Company Law Appellate Tribunal (NCLAT) on Friday said pension and provident funds which had invested in Infrastructure Leasing & Financial Services (IL&FS) would have priority in payment from all categories of companies, whether classified as green, amber or red. Read more here


From THDC India to Neepco, govt plans to list 10 PSUs this fiscal year


The Centre plans to list around 10 state-owned companies on the bourses this fiscal year, to be able to meet the disinvestment target of Rs 1.05 trillion, Atanu Chakraborty, secretary to the Dipam. Read more here


The Dhoni era: How Captain Cool's genius changed Indian cricket forever


The occasional bulging of the eyes, the annoyingly incessant fastening and unfastening of the gloves, the odd tilt of the head behind the stumps, the look up to the heavens, the thumb reaching out for the periphery of the left eye, the flapping of the shoulders in one sudden circular motion. Read more here


Audi announces top management changes for India


Rahil Ansari, Audi AG's head for India operations, is relocating to the carmaker’s headquarters in Germany's Ingolstadt, the company said. He will be replaced by Balbir Singh Dhillon, who currently heads the dealer development for Audi, reported the Livemint. 

Startups can’t overcome Angel Tax fear despite Nirmala Sitharaman’s assurance


The threat of 'angel tax' is yet to recede despite assurances from finance minister Nirmala Sitharaman that startups wouldn’t face out-of-the-ordinary tax scrutiny. 


Soon, Tax Dept to send SMS on 18 types of high-value transactions


Soon, one will receive an SMS from the I-T Department if he or she quotes PAN for 18 types of financial transaction where it is mandatory. The I-T department will now act as an accountant for assessees, said CBDT chairman PC Mody, reports the Hindu Business Line.

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Sensex

Company Price Gain (%)
St Bk of India372.152.17
HCL Technologies1,040.652.02
Kotak Mah. Bank1,532.902.02
IndusInd Bank1,500.701.85
Asian Paints1,394.851.67

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