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News digest: IL&FS crisis, car sales, bond markets, LTCG tax, and more

New six-member board may choose Uday Kotak as chairman

BS Web Team 

News digest

Govt takes control of IL&FS; new board may choose as chairman

The Company Law Tribunal (NCLT), Mumbai, superseded the board of beleaguered infrastructure financier Infrastructure Leasing & Financial Services (IL&FS) with six new directors after the government moved a petition to remove the previous board of directors. Read more

in the slow lane as sales fail to pick up speed in September

The domestic car-manufacturing industry has seen a decline of 3 per cent in September sales even with the festive season round the corner, indicating an impact of the escalation in fuel prices, among other things.

This happens to be the third consecutive month of decline for the industry. Read more

Bond markets get a Rs 360-billion boost

The (RBI) on Monday said it would buy Rs 360 billion worth of bonds from the secondary market in October to meet the durable liquidity needs and the seasonal growth in currency in circulation observed in the

build-up to the festive season.

The auctions will be conducted during the second, third, and fourth weeks of October. Read more

private label headed for global high street

Online fashion portal is looking to expand globally by piggybacking on after the US retail giant became the single-largest stakeholder in its parent with a $16-billion investment this May.

While isn’t looking to take its e-commerce service outside the country, the company is planning to sell its private label products in stores overseas. Read more

Stock market crash may make huge dent in tax collection in FY19

The weakness in the could make a huge dent in the collection of long-term capital gains (LTCG) tax introduced this

Only 14 per cent of the stocks — 244 out of the 1,771 traded on the Stock Exchange (NSE) — were above their January 31 closing price at the end of the first half of the Read more

First Published: Tue, October 02 2018. 02:10 IST