Business

More than 100 employees and former staffers have become millionaires after India’s second largest startup company’s stock sale of 500 million rupees. About 200 employees working in the company have sold their own Optional Option (ESOP). Their cost is around 300 crores. After this, the company’s market valuation has risen. Employees of the company have been sold by selling these ...

DAINIK NATION BUREAU The Economic Survey paints as bright a picture for India’s short and medium term growth, while pointing out some pitfalls. Growth in the current fiscal would be quarter of a percentage point larger than the CSO’s advance estimate of 6.5%, owing to a pick-up in exports and the base effect from poor fourth quarter growth in Demonetisation-hit ...

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore. “Total revenue Collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crores till January 24 2018,” the Finance Ministry said in a tweet. Total collections under the Goods and Services ...

Mobile data rates will see a further drop to as low as Rs 2.7 per GB with Reliance Jio announcing extra 500 MB data for its users of select plans as part of ‘Republic Day offer’, says a Bank of America Merrill Lynch report. As per calculations done by the BoFA-ML analysts, per GB data will cost Rs 2.7 under ...

India’s oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on its vast consumer base, two oil ministry officials told Reuters on Monday. Prime Minister Narendra Modi, who faces elections in key states later this year, and a nationwide election in early ...

Mauritius was the largest source of foreign investment in India, followed by the US and the UK, according to a census by the Reserve Bank. Singapore and Japan were the next two sources of foreign direct investment (FDI), said the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI today. Of the 18,667 companies ...

DAINIK NATION BUREAU Uttarakhand Finance Minister made a strong plea for the release of green bonus and also apprised him about the financial problems being faced by the state due to the implementations of the recommendations of the 14th Finance Commission. Prakash Pant discussed the schemes underway in the state at a pre-budget meeting held at vigyan bhawan led by ...

The BSE Sensex continued its record-setting spree for a second day, scaling a new high of 35,476.70 in opening trade today as banking stocks led rally on sustained foreign fund inflows. Also, the broader NSE Nifty zoomed to a new high of 10,887.10. The 30-share index rallied by 394.88 points, or 1.12 per cent, to hit the peak of 35,476.70, ...

DAINIK NATION BUREAU Japanese steel and engineering companies are in the driver’s seat to bag major supply contracts for a $17 billion Indian bullet train, several sources said, undermining a key component of Prime Minister Narendra Modi’s economic policy – a push to ‘Make in India’. Japan is funding most of the project, and Japanese companies are likely to supply ...

In a major initiative to ensure expeditious implementation of ambitious Railway Infrastructure Development Plans, Ministry of Railways is organizing a “Mega Conclave” tomorrow i.e. 17th January, 2018 with all stakeholders including leaders of the construction industry. The Conclave will not only see Railway Board Members and Senior Zonal Railway Officials interacting with construction industry captains but will also see Minister ...