Corporates

May 21, 2013 07:53 (IST)

The board of iGate Corp, an information technology outsourcing services provider, has sacked Chief Executive Officer Phaneesh Murthy following an investigation into a claim of sexual harassment, the company said in a statement.

Chennai | May 20, 2013 23:40 (IST)

Non-banking finance company Shriram City Union, part of the diversified Shriram Group, has reported a 33.1 per cent increase in its consolidated net profit at Rs 125.61 crore for the fourth quarter that ended on March 31, 2013.

New Delhi | May 20, 2013 23:27 (IST)

Paint maker Akzo Nobel India reported a 20 per cent decline in its net profit at Rs 62.50 crore for the quarter ended March 31, 2013.

New Delhi | May 20, 2013 23:23 (IST)

Tata group firm Voltas reported on Monday a whopping 91 per cent decline in its consolidated net profit at Rs 9 crore for the quarter ended March 31, 2013.

May 20, 2013 22:21 (IST)

United Airlines is getting its 787s back in the air. The planes are flying again after being grounded for four months because of smouldering batteries on 787s owned by other airlines.

Kolkata | May 20, 2013 22:10 (IST)

Srei Infrastructure Finance Ltd reported on Monday an over five-fold jump in consolidated net profit at Rs 69.28 crore for its fourth quarter that ended on March 31, 2013.

New Delhi | May 20, 2013 20:49 (IST)

London-listed Essar Energy Plc said has said that its Mauritius-based unit will buy 2.41 per cent stake in Essar Oil for over Rs 267 crore.

Mumbai/New Delhi | May 20, 2013 20:24 (IST)

Essar Oil Ltd will sign a $1 billion loan deal with China on Tuesday that sources with knowledge of the matter said would be backed by supply of refined products to top state oil producer PetroChina.

New Delhi | May 20, 2013 20:12 (IST)

Riding on dividend income paid by its subsidiaries, Coal India Ltd (CIL) on Monday reported nearly a 90 per cent jump in standalone net profit at Rs 2,320.61 crore for its fourth quarter that ended on March 31.

May 20, 2013 18:06 (IST)

Yahoo Inc said it is acquiring blogging service Tumblr for $1.1 billion cash, a bold bet by chief executive Marissa Mayer to revitalise the struggling internet pioneer by co-opting a web property with strong visitor traffic but little revenue.

May 20, 2013 17:02 (IST)

Securities and Exchange Board of India (Sebi) chief UK Sinha today told NDTV that despite the regulator informing the West Bengal government, no timely action was taken against chit-fund companies like Saradha that allegedly cheated thousands of investors.

New Delhi | May 20, 2013 14:24 (IST)

US-based Walmart and UK-based Tesco have sought clarifications from the DIPP on whether they could set up warehouses in states which are against the Centre's retail FDI policy.

May 20, 2013 12:16 (IST)

Morgan Stanley launched the sale of its Indian private wealth management unit in November 2012, after entering the highly fragmented and competitive market about four years earlier.

Bangalore, India | May 20, 2013 10:14 (IST)

Infosys, India's No. 2 software services exporter, said on Monday it would challenge a Rs 577 crore ($105.3 million) income tax demand raised by Indian authorities earlier this month.

New Delhi | May 19, 2013 19:34 (IST)

A lingering row between CIL and power producers, such as NTPC, is casting a shadow over 10 per cent divestment plans in the coal major as its parent ministry has reservations about stake sale till issues like Rs 9,000-crore dues owed by electricity utilities are resolved.

May 19, 2013 18:58 (IST)

The current payroll practices - an essential element in employee satisfaction - facehurdles like incorrect tax withholding, tax and regulatory changes, cost of solution, according to a study by global consultancy firm Ernst and Young (E&Y).

Kolkata | May 19, 2013 17:59 (IST)

State Bank of India (SBI) is projecting a 25 per cent deposit growth during the current fiscal year compared to 14.85 per cent in 2012-13.

New Delhi | May 19, 2013 17:50 (IST)

Under pressure from the Directorate General of Hydrocarbons (DGH), Reliance Industries Ltd (RIL) has agreed to do separate tests to confirm 3 natural gas finds in the KG-D6 block but the regulator is not impressed and wants the discoveries to be taken away from the company.

New Delhi | May 19, 2013 16:50 (IST)

The Cellular Operators Association of India (COAI) is planning to approach the Department of Telecommunications (DoT) in the "next few days" asking it to cancel 19 licences awarded to Tata Teleservices (TTSL) over 5 years ago.

New Delhi | May 19, 2013 14:30 (IST)

Land acquisition will be a major hurdle for Swedish furniture retailer IKEA to set up its stores in India and it may have to even depend on public auction by government, according to real estate consultants.