Even as taxation of e-commerce continues to be a vexed issue, several states have told the Centre that firms like Flipkart, Amazon and Snapdeal need to be treated like conventional retailers and be held liable to pay tax on the sales taking place through their platforms, without disadvantaging states where the end-consumer is located.

Arguing that conventional retailers can’t be deprived of a level-playing field, some states like Kerala have said that either e-tailers must set up warehouses in their states for sales to local consumers and pay VAT or pay a higher tax on sales to their consumers from warehouses in other states.

Continuing its winning run for the third straight session, the benchmark BSE Sensex gained over 122 points in early trade today on sustained across-the-board buying by participants amid a rebound in Asian markets.

At 10:58 am, Sensex was up 73.41 points at 28,282.17 . Similarly, Nifty was up 24.85 points at 8,547.00 during the same time.

BENGALURU: Wipro's billionaire chairman Azim Premji, the first Indian to sign the Giving Pledge, has set aside more than half of his wealth for charity by allocating an additional 18% stake in the company to fund philanthropy.

Premji, who will turn 70 this month, controls a 73.39% stake in India's third-largest software company, which is worth about Rs 99,500 crore ($15.7 billion). In Wipro's annual report for the year ended March 2015, Premji said he has now allocated the equivalent of 39% of the company's shares to a trust focussed on philanthropic initiatives, mainly primary education. The additional 18% stake forms the latest tranche of shares Premji has allocated for charity.

MUMBAI: Tata Consultancy Services' iON cloud platform, which failed to live up to its initial expectations of revolutionising the small-and-medium business space by offering them computing capabilities at a low cost, has taken on a new life almost five years after its launch. It's now the preeminent platform for conducting examinations in the country.

Coal India, Bajaj Finance, Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC), Dabur India, Britannia Industries, BEML and SRF are among 143 stocks that have touched their respective 52-week highs on the Bombay Stock Exchange (BSE) in this session.

Bajaj Finserv, Emami, Essar Oil, Karnataka Bank, Oracle Financial Services Software, TV18 Broadcast and Welspun Corp are prominent stocks from the A group to hit 52-week highs.

To reinvent itself in the two-wheeler segment, Mahindra Two Wheelers Ltd (MTWL) has started a product-led overhaul. The Mumbai-based company has discontinued sales of two scooters, Flyte and Kine, and one motorcycle, Pantero. Scooter brand Duro is available only in dealerships at present. It has also shifted focus to new-generation products. Its pruned portfolio now has only three models — Centuro, Gusto and Rodeo UZO 125.

This is the first major revamp MTWL has done since its debut in the sector six years ago. The company, which inherited a handful of models from the erstwhile Kinetic Motor Company after acquiring its business assets in 2008, has been struggling to scale up its business against competition from Hero MotoCorp and Honda.

Mukesh Ambani’s Reliance Industries Limited (RIL) announced a proposal to sell 32.5 million shares of Network18 Media & Investments Limited (NW18). This is close to 3.1 per cent of the equity capital of NW18. The offer-for-sale will open on Wednesday.

The sale is to bring down the aggregate shareholding of the promoter and promoter group to 75 per cent and increase the public shareholding to 25 per cent, in line with Clause 40A of the listing agreement pursuant to Securities Contract (Regulation) Rules, 1957.

Maruti Suzuki’s plan to use only the S logo to brand its premium cars follows the lead of most luxury car makers, which use logos and not names on vehicles.

Hyundai Motor India, Maruti’s closest competitor, has made this a standard practice in many of its models. Hyundai stopped using the company badge in some models from the end of 2013. Its uses the circular H with the model name.

C-DOT, the research and development institute of the department of telecommunications, will launch four broadband products developed to fast forward the Digital India initiative, an official statement said.

The products, which includes long distance Wi-Fi system, solar-powered Wi-Fi system, 100 Gbps optical fibre cable (OFC) link and C-DOT’s next generation network (NGN) in MTNL network, will be launched by Communications Minister Ravi Shankar Prasad on July 6 as a part of the Digital India week.

“Recover the coal sector for me, the entire economy will rebound.”

This was Prime minister Narendra Modi's first message to union coal secretary Anil Swarup last October after appointing him as a Of?cer on Special Duty (OSD) in the coal ministry. Recalling the conversation, Swarup now believes, with the successful auctioning coal blocks to captive miners and state-owned Coal India Ltd (CIL) recording double digit production growth, he and the CIL mangement are on course to deliver on the PM's mission.

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