Mahindra’s standalone revenue increased 16% from the year earlier to ₹ 13,519.91 crore during the April to June period. Revenue from the automotive sector increased 5.8% to ₹ 8,188.13 crore, while it grew 16% in the farm equipment sector to ₹ 5,006.88 crore.
The International Monetary Fund or IMF today described the Goods and Services Tax (GST) as a “milestone reform” in India’s tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.
The government has doubled the import duty on more than 300 textile products including imported garments, fabrics, specialised fabrics and carpets, among others, will become costlier, which would benefit domestic manufacturing
PepsiCo President Ramon Laguarta, 54, will succeed the 62-year-old Nooyi effective Oct. 3, becoming Pepsi’s sixth CEO. Nooyi will remain as chairman until early 2019
The Indian components industry contributed 4.3 per cent to the overall GDP of the country and had a share of 4 per cent in India’s total exports in FY2017-18. Europe accounted for 34 per cent of the exports with North America and Asia having a share of 28 per cent and 25 per cent respectively.
In gains for HDFC AMC IPO investors, shares of the asset manager made a stellar debut today on both NSE and BSE, surging over 66% from the issue price.