News digest: India Inc struggles for profits, NSE probe, and more

Arun Jaitley has hinted that reform measures such as introduction of GST could possibly lead to deviation from fiscal road map

Structural reforms could change the glide path: Arun Jaitley

Union Finance Minister Arun Jaitley has hinted that reform measures such as the introduction of the goods and services tax (GST) could possibly lead to a deviation from the fiscal road map. Read more

NSE probe: I-T dept searches premises of brokers, employees

The income tax (I-T) department on Thursday conducted extensive search and survey operations on the premises of current and former top officials of the National Stock Exchange (NSE) and brokers in connection with the ongoing probe into the preferential access controversy at the exchange’s co-location facility. Read more

Options to revive group drying up for Anil Ambani

The shareholders of Anil Ambani group firms are a worried lot these days, particularly due to the stress in Reliance Communications (RCom). News reports on the group have been mixed — while the demerger and separate listing of Reliance Capital’s (RCap’s) housing finance arm and the initial public offering (IPO) of its asset management business were positive, RCom disappointed. Read more

Boeing and HAL discuss building F/A-18 fighter

The Boeing Company (hereafter Boeing), which is a vying strongly to supply the Indian Navy with 57 “multi-role carrier borne fighters” (MRCBF), has entered talks with Hindustan Aeronautics (HAL) to explore the co-manufacture of its F/A-18E/F Super Hornet fighter in India, say credible sources in the defence ministry. Along with HAL, Boeing also intends to involve the Mahindra Group in building Super Hornets in India. Read more

Leonardo da Vinci's painting 'Salvator Mundi' sells for $450 mn

After 19 minutes of duelling, with four bidders on the telephone and one in the room, Leonardo da Vinci’s “Salvator Mundi” sold on Wednesday night for $450.3 million with fees, shattering the high for any work of art sold at auction. It far surpassed Picasso’s “Women of Algiers,” which fetched $179.4 million at Christie’s in May 2015. The buyer was not immediately disclosed. Read more

India Inc's combined net profit down 2.6% led by telcos, textile firms

Festival sales and restocking of goods after the goods and services tax (GST) roll-out provided some relief to corporate India during the July-September quarter, but the gains were not enough to completely erase the losses caused by the note ban and the new indirect tax system. Read More