Business

State-owned Hindustan Petroleum Corporation (HPCL) has joined the Indian consortium negotiating buying a 49 per cent stake in Russia's Vankor Cluster oil fields in the Arctic region.

UK's Cairn Energy, which became the first company to face coercive recovery in retrospective tax action, had created a maze of subsidiaries in a span of just six months to transfer Indian assets, an event that led to a demand of Rs 10,247 crore as dues.

Infosys CEO Vishal Sikka on Saturday said Prime Minister Narendra Modi would convey the contribution made by Indian IT companies towards the US economy during his deliberations with President Donald Trump.

Benchmark Sensex gave up early gains to end 153 points lower at 31,138.21 on Friday while the Nifty cracked below the 9,600-mark as investors took profit ahead of a long weekend.

The Reserve Bank of India (RBI) on Thursday reconstituted a panel to oversee restructuring of troubled loans, as it strives to cut more than $150 billion of bad debt banks in Asia's third-largest economy have accumulated over the past years.

Assocham said presently, highway toll collected from passengers and annuity amounts received from NHAI for construction and maintenance of highways is exempted from Service tax

Indian conglomerate Adani Group has signed an MoU with one of China's largest private companies to invest USD 300 million in a manufacturing unit of an Indian port.

The rupee firmed up 2 paise to 64.31 against the dollar in early trade today even as traders expect an increase in interest rate by the US Fed at its policy meeting on Wednesday.

For the first time, the NDA government is planning to conduct a study for assessing the impact of corporate social responsibility projects undertaken by various public sector firms.

The buses plying on the Delhi- Lahore and Kolkata-Dhaka routes for transporting passengers as well as fuel they use will be exempt from levy of Integrated-GST (IGST).

Signalling the intent of the government, Power Minister Piyush Goyal today said the ministry is doing its job to revive stalled and stressed thermal and hydro power projects.

The GST Council has set up 18 sectoral groups to interact with the sectors like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime.

Sterling fell sharply on Friday as British elections seemed to leave no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe.

Early passage of the budget for 2017-18 has contributed to an upfronting of expenditure, resulting in a sharp 51.2 percent rise in revenue expenditure in April, rating agency Icra said.

India's gross domestic product data shocked again on Wednesday as economic growth unexpectedly slumped to its lowest in more than two years in the March quarter, stripping the country of its status as the world's fastest growing major economy.

The Centre is committed to curb the circulation of black money and widen tax base, a senior Income Tax official said here on Thursday.