Category: BUSINESS

Tata Consumer Products Ltd (TCPL) on Friday announced to acquire Tata SmartFoodz Limited (TSFL) from its group firm Tata Industries for a cash consideration of Rs 395 crore. TCPL has signed a definitive agreement to acquire 100 per cent equity shares of TSFL, a deal which will help the Tata group FMCG arm to enter into the Ready to Eat’ category, said a joint statement. This move is consistent with TCPL’s strategic intent to expand into value-added categories, it said, adding the acquisition will enable TCPL to expand its product…

Read More

HCL Technologies has announced its apprenticeship programme in the US, focused on hiring high school graduates for full-time technology jobs that would otherwise be inaccessible. Upon successfully completing the program, apprentices will be offered full-time employment at HCL Technologies and have the opportunity to concurrently pursue a debt-free college education, a statement on late Wednesday said. HCL’s apprenticeship programme provides full pay and benefits, enabling candidates to begin their technology career in software development and testing, digital and cloud services, infrastructure delivery and engineering — with positions available at multiple…

Read More

Equity benchmark Sensex tumbled over 300 points in early trade on Thursday tracking losses in index-majors HDFC twins, ICICI Bank and Infosys amid a largely negative trend in global markets and sustained foreign fund outflow. The 30-share index was trading 303.07 points or 0.50 per cent lower at 60,049.75 in initial deals. Similarly, the Nifty fell 102.60 points or 0.57 per cent to 17,914.60. Tech Mahindra was the top loser in the Sensex pack, shedding around 2 per cent, followed by HDFC, SBI, Nestle India, Axis Bank, HCL Tech and…

Read More

Dearness Allowance for central government employees has been hiked to 31 per cent of the basic pay from 28 per cent with effect from July 1, 2021, the Finance Ministry said. In an office memorandum, the Department of Expenditure, under the Finance Ministry, said the term ‘basic pay’ means the pay drawn as per the 7th pay commission matrix and does not include any other type of pay like special pay, etc. “….the Dearness Allowance payable to central government employees shall be enhanced from the existing rate of 28 per…

Read More

The Income Tax department has issued an order asking taxmen to accept till September 30, applications for settlement of pending tax cases. The 2021-22 Budget, through the Finance Act, amended the provisions of the Income-Tax Act, 1961 to provide that the Income-tax Settlement Commission (ITSC) shall cease to operate from February 1, 2021. Further, it has also been provided that no application for settlement can be filed on or after February 1, which was the date on which the Finance Bill, 2021 was laid before the Lok Sabha. In order…

Read More

Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended for six months till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis. The FTP provides guidelines for enhancing exports to push economic growth and create jobs. “We are notifying it today evening or tomorrow…We have decided to extend the policy (2015-20) until March 31 (2022)…and in the (new) financial year, we can start with the new policy,” he…

Read More

It took just eight months for the BSE benchmark Sensex to cover the journey from 50,000 in January this year to scale the unprecedented 60,000 mark for the first time on Friday. The strong bull rally on the Dalal Street has seen the benchmark index rising 10,000 points after hitting the 50,000 mark in intra-day trade on January 21, 2021. “The roaring bull market is continued in the Indian market with climbing all walls of worries where Sensex has crossed the new milestone of 60,000. We are in a classical…

Read More