India News

PVR close to acquiring DLF’s DT Cinemas

Mumbai: Ajay Bijli-owned PVR Ltd is in the last lap of negotiations to acquire multiplex chain DT Cinemas, a subsidiary of real estate developer DLF Ltd, as it seeks to cement its position as the country’s largest cinema exhibitor.

“PVR and two other cinema chains were in negotiations and now PVR is leading the race to close the deal. The deal is in the final stages,” said one of two persons familiar with the development.

With GenX Nano, Tata Motors takes another shot at entry-level car market

Mumbai: Seven years after Tata Motors Ltd delivered the first Nano, then billed as the world’s cheapest car with a Rs.1 lakh price tag, the jellybean-shaped car has come full circle in terms of price and positioning.

On Tuesday, Tata Motors took the wraps off the GenX Nano, priced between Rs.1.99 lakh and Rs.2.89 lakh, in yet another attempt to revive sales of a car it had launched in July 2009 as an affordable, entry-level vehicle, but which never quite took off.

Higher service tax rate of 14% to be applicable from 1 June

New Delhi: The new service tax rate of 14% will come into effect from 1 June, the government on Tuesday said, in a move that will make eating out in restaurants, insurance and phone bills expensive, among many other things.

The service tax is currently levied at the rate 12.36% including education cess. Top official sources said that the new rate of 14% announced by finance minister Arun Jaitley in his budget for 2015-16 would come into effect from 1 June.

Vishal Sikka sanguine about Infosys future

Bengaluru: Less than a year after taking the helm of India’s second-largest software services exporter, Infosys Ltd’s chief executive officer (CEO) Vishal Sikka is a lot surer about which way the company is headed.

“I’m vastly more confident and comfortable about the future,” Sikka, 47, said in an interview. “Most people do not really understand what it was like when I started. We needed to stabilize then. And now, we all are excited. People are excited because they know they are involved in something great.”

Reliance in cash chase

Mumbai, May 19: Reliance Industries Ltd (RIL) today said it has raised $200 million by selling Formosa Bonds in Taiwan.

These are bonds that are issued in Taiwan, but are denominated in a currency other than the new Taiwanese dollar.

Wipro training 20k unicorns in e-push

BENGALURU: Wipro is building an army of Unicorns that can bounce between code and design as it moves into the new world of artificial intelligence, analytics and robotics.

India's third-largest IT services company is training 20,000 employees to become what it calls Unicorns — people who have a breadth of technology knowledge to define the big picture — as the battle for highly-skilled digital workforce is getting fierce.