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Consumer goods stocks most expensive in soaring market

MUMBAI, May 23 -- Consumption-focused stocks continue to be the most expensive stocks as market hovers near record highs. Five of the top 10 most expensive stocks in the BSE 200 pack are consumption-focused, as investors focus on a revival in domestic consumption story, with investors already discounting a good monsoon to an extent.

BSE FMCG (fast moving consumer goods) index trades at 41.51 times 1-year forward earnings, compared to a 5-year av... Read More


HC seeks Maran brothers' reply in Aircel--Maxis case

NEW DELHI, May 23 -- The Delhi high court on Monday sought responses from former telecom minister Dayanidhi Maran, his brother and industrialist Kalanithi Maran and others on a CBI plea challenging their discharge in the Aircel-Maxis graft case. The court asked them to respond to the plea and fixed the matter for hearing on August 29. The special court had said no prima facie case warranting framing of charges was made out against them. The HC ha... Read More


Modi government mulls allowing 100% FDI in retail, with caveats

New Delhi, May 23 -- To promote its flagship Make In India scheme with job creation at its core, the Narendra Modi government is considering allowing 100% foreign direct investment (FDI) in multi-brand retail-as long as the products are made in India.

A government official familiar with the matter, who spoke on condition of anonymity, said the proposal is being considered. "A final decision on the matter will be taken after wider consultation," ... Read More


RBI to expand oversight committee for bad loan resolution

Mumbai, May 23 -- The Reserve Bank of India (RBI) on Monday proposed expanding the scope of oversight committees and a larger role for credit rating agencies as it draws up an action plan to deal with the Indian banking system's Rs7.7 trillion bad loan problem. Earlier this month, the government moved an ordinance empowering the central bank to intervene directly in stressed asset cases.

In a statement on its website, the central bank said it wa... Read More


Shekhar Gupta's The Print raises funds from Ratan Tata, Nandan Nilekani, Uday Kotak

New Delhi, May 23 -- Editor-turned-entrepreneur Shekhar Gupta's media venture Printline Media Pvt. Ltd has raised an undisclosed sum from investors including Ratan Tata, Uday Kotak and Nandan Nilekani, all of whom are putting money in the company in their personal capacity. The company will use the money to launch its news site The Print, a multimedia digital news platform, in the next three months.

The anchor investors-the list also has Biocon ... Read More


Tejas Express housefull for first ride from Mumbai, bookings full till May 24

Mumbai, May 23 -- The Tejas Express, which comes with features such as automatic doors, vacuum bio-toilet, tea-copy vending machines, the local cuisine on the catering menu, onboard WiFi and entertainment screens, has received an overwhelming response from passengers.

All 990 seats were booked and the waiting list stood at 5 for the executive class and 30 for the chair car till Monday 6.30pm-barely three hours after it was flagged off by railway... Read More


Modi govt mulls allowing 100% FDI in retail, with caveats

New Delhi, May 23 -- To promote its flagship Make In India scheme with job creation at its core, the Narendra Modi government is considering allowing 100% foreign direct investment (FDI) in multi-brand retail-as long as the products are made in India.

A government official familiar with the matter, who spoke on condition of anonymity, said the proposal is being considered. "A final decision on the matter will be taken after wider consultation," ... Read More


Govt forges consensus to bring full-fledged budget

KATHMANDU, May 23 -- The government has forged political consensus to table the budget on May 29 as stipulated by the constitution.

Clearing doubts about the government's budget and programs in the middle of two elections, Minister for Finance Krishna Bahadur Mahara on Monday said that political consensus has been reached among major political parties to bring a full-fledged budget.

Talking with media persons at the Ministry of Finance, Mahara ... Read More


GST in, Maharashtra can rid civic bodies of corruption

India, May 23 -- With the state legislature passing the required legislations in its three-day long special session that ended on Monday, Maharashtra is all set to enter the Goods and Services Tax (GST) regime. The days leading to the session saw haggling between the ruling Bharatiya Janata Party and its alliance partner Shiv Sena as the latter was worried over the financial situation of the civic bodies, such as Brihanmumbai Municipal Corporatio... Read More


We can cope with GST losses, don't need help from Centre, says Maharashtra finance minister

Mumbai, May 23 -- After the Maharashtra legislature on Monday unanimously cleared the Goods and Services Tax (GST) ratification bill after two days of discussion, state finance minister Sudhir Mungantiwar said that the state was capable of dealing with revenue losses and did not need any compensation from the Centre after two years. He further said that the state's revenue was likely to go up by 2% with the introduction of the GST.

The state gov... Read More