The government today extended the deadline for payment of tax and penalty under the black money disclosure scheme and allowed declarants to pay the amount in three instalments by September 30 next year.

The first instalment of 25 per cent under the Income Declaration Scheme 2016 will have to be paid by November 2016 to be followed by another instalment of 25 per cent by March 31, 2017. The remaining amount, according to a finance ministry statement, will have to be paid to the exchequer by September 30, 2017.

Bengaluru: Infosys Ltd’s head of cloud, infrastructure and security unit, Samson David has resigned, a setback for chief executive officer Vishal Sikka who earlier this year entrusted David with the additional responsibility of heading artificial intelligence platform Mana.

David will join Hewlett Packard Enterprise Co. as senior vice-president, enterprise services delivery, and will report to Mike Nefkens, executive vice-president of HPE Enterprise Services, said a spokesman for HPE.

Ahead of the first quarter results of Reliance Industries, that is due on Friday, top brokerages and analysts have predicted an average rise in net profits of 5.5 per cent over the like period of last year, with the maximum jump seen at 10 per cent.

Sequentially, though, all the 16 such forecasts by firms like Citi, HSBC, Nomora, JP Morgan and Kotak, see a fall ranging between 5.5 per cent and 15.5 per cent (for the first quarter of this financial year over the last quarter of the previous year. The average is 11.3 per cent.

ONGC has hired US-based petroleum reserves certifier Ryder Scott to review the hydrocarbon present and recoverable in the 1,850 sq km GSPC-owned block KG-OSN-2001/3 in the East Coast.

This is in the wake of the central government-owned explorer, which is negotiating a deal to pick up a majority stake in the GSPC deep water block, finding that the actual hydrocarbon that could be taken out is far less than the presumed 7.6 trillion cubic feet (tcf) — probably not even half that.

Shares of Tata Consultancy Services (TCS) were trading in green in the morning trade on Thursday ahead of its earnings for the first quarter ended June 30, 2016.

At 10.10 am, TCS was trading 0.35 per cent up at Rs 2,500. The scrip opened at Rs 2488.50 and has touched a high and low of Rs 2,512 and Rs 2472.05, respectively, in trade so far.

The domestic equity markets opened flat on Thursday, tracking a similar trend in the Asian markets.

MSCI's broadest index of Asia-Pacific shares outside Japan, were down 0.1% but the index was still at an eight-month peak; Nikkei was flat, a Reuters report said.

India’s largest automobile company, Tata Motors, has set its eyes on being among the top three global commercial vehicle makers and reclaiming its number three spot in the country’s car and sports utility vehicle market.

Addressing shareholders while presenting the company’s 71st annual report, Chairman Cyrus Mistry said the current year would be crucial, entailing new launches.

The three 'Maharatna' public sector utilities (PSUs), NTPC, Coal India and Indian Oil, would form a special purpose vehicle (SPV) to revive three fertiliser units in UP, the Union Cabinet approved today.

These include two closed urea units of Fertilizer Corporation India (FCIL) at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) and Barauni (Bihar) unit of Hindustan Fertilizers (HFCL).

The Securities Appellate Tribunal (SAT) will hold on September 13 the final hearing on realty major DLF's plea against the Rs 86 crore penalty imposed on it by capital market regulator Sebi.

In February last year, Sebi had slapped fines totalling Rs 86 crore on DLF, its top executives, their family members and various other related entities for alleged fraudulent transactions during its initial public offer (IPO) in 2007.

Amid shareholder complaints about many companies refusing to pay dividend despite having extra cash, markets regulator Sebi has made it mandatory for the top 500 listed firms to have a 'dividend distribution policy'.

The new norms will not force companies to pay dividend, but will help investors get a clearer picture on returns from their investments in such listed firms and also identify stocks matching their investment objectives.

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