India Business News

Tax stalement continues in Maharashtra, traders on strike

by sulekha news on May 8 2013 7:14PM IST

Mumbai, May 8 (IANS) A large number of retailers, wholesellers and manufacturers in Mumbai remained on strike for the third day Wednesday and their counterparts in Thane, Pune and Pimpri-Chinchwad them as the stalemate over Local Body Tax (LBT) in Maharashtra continued as the state government did not give in to their demand.

Hyderabad largest retail hub in south: Study

by sulekha news on May 8 2013 6:54PM IST

Hyderabad, May 8 (IANS) Hyderabad has emerged as the largest retail hub in south India, according to a latest study by leading retail IT solutions provider Ginesys.

Chemists across India to go on strike Friday

by sulekha news on May 8 2013 6:54PM IST

New Delhi, May 8 (IANS) Around 7.5 lakh chemists across India will observe a one-day strike Friday against government policies and their impact on traders, a statement said Wednesday.

Servion Global Solutions mulls offering solutions on the cloud

by sulekha news on May 8 2013 6:34PM IST

Chennai, May 8 (IANS) City-based Servion Global Solutions is mulling plans to offer customer interaction management solutions on cloud computing basis, look at large managed services deals and also focus on the European market with Britain as its hub, said a top company official.

Jay Robotics plans to raise $8 million for expansion

by sulekha news on May 8 2013 6:24PM IST

Hyderabad, May 8 (IANS) Jay Robotics, a multidimensional robotics company, plans to raise $7 million to $8 million through venture capital for its expansion.

Delhi-Mumbai Industrial Corridor to get $3.24 billion

by sulekha news on May 8 2013 6:14PM IST

New Delhi, May 8 (IANS) The government has approved Rs.17,500 crore ($3.24 billion) for the Delhi-Mumbai Industrial Corridor (DMIC) project, which is estimated to cost around $100 billion overall, Minister of state for Commerce and Industry D. Purandeswari said Wednesday.

Akhilesh seeks Delhi Metro extension to Noida, Ghaziabad

by sulekha news on May 8 2013 5:34PM IST

Lucknow, May 8 (IANS) Uttar Pradesh Chief Minister Akhilesh Yadav Wednesday wrote to the central urban development minister to expedite the extension of the Delhi Metro Rail service in the state's National Capital Region (NCR).

Five weeks before monsoon, Maharashtra running dry

by sulekha news on May 8 2013 5:34PM IST

Mumbai, May 8 (IANS) With at least five weeks before the normal onset of monsoon, Maharashtra has just 20 percent water in all its reservoirs, Chief Minister Prithviraj Chavan said here Wednesday.

Bengal moots social security scheme for investors: Mamata

by sulekha news on May 8 2013 4:44PM IST

Kolkata, May 8 (IANS) The West Bengal government is planning to start a social security scheme for depositors and investors to ensure proper return of public money after the Saradha chit fund mess, Chief Minister Mamata Banerjee said here Wednesday.

State Bank of Hyderabad's net down by 3.70 percent

by sulekha news on May 8 2013 4:44PM IST

Hyderabad, May 8 (IANS) State Bank of Hyderabad (SBH) has reported net profit decline of 3.70 percent for fiscal 2012-13. The profit during the year was Rs.1,250 crore against Rs.1,298 crore during 2011-12.

Ooredoo launches first live IPX+ in Middle east with Tata Communications

by sulekha news on May 8 2013 4:34PM IST

New Delhi, May 8 (IANS) Qatar's telecom network Ooredoo, formerly known as Qtel, has launched the first live IPX+ enabled network in the Middle East with Tata Communications to meet the growing demand for mobile data.

Sensex crosses 20,000-mark, first time since Jan 31

by sulekha news on May 8 2013 4:24PM IST

Mumbai, May 8 (IANS) A benchmark index of the Indian equities markets Wednesday crossed the 20,000-level-mark for the first time in more than three months gaining 119.23 points as fast moving consumer goods (FMCG) and bank stocks rallied.

State Bank of Hyderabad to continue as independent bank

by sulekha news on May 8 2013 4:17PM IST

Hyderabad, May 8 (IANS) State Bank of Hyderabad (SBH) Wednesday said it is not considering merger with the State Bank of India (SBI) and that it will continue as an independent bank.

Amid border tensions, Chinese dig tunnel for Delhi Metro line (With image)

by sulekha news on May 8 2013 4:17PM IST

New Delhi, May 8 (IANS) Amid the media brouhaha in India over the border incursions by their troops, Chinese engineers were last week calmly tunneling in the heart of the national capital for the heritage line of the Delhi Metro network, signifying the growing commercial linkages between the two neighbours.

HDFC profit rises 17 percent in January-March quarter

by sulekha news on May 8 2013 4:17PM IST

Mumbai, May 8 (IANS) India's largest mortgage lender Housing Development Finance Corporation (HDFC) Wednesday said its net profit increased 17.27 percent to Rs.1,555.21 crore in the quarter ended March 31, 2013.