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The Council had in May fixed 28% as the top rate for cigarettes. A 5% ad valorem cess was levied on top of it and Rs 1,591 per thousand sticks as fixed cess on both filter and non-filter cigarettes of not exceeding 65 mm.

ITC says increase in compensation cess would 'exacerbate' legal sales

The high incidence of taxation on cigarettes was further compounded by increase in taxes announced by the GST Council.

27 July 2017 9:16 PM IST

ONGC on Thursday reported a 8.2 per cent drop in its June quarter net profit after sharp reduction in natural gas rates.

Fall in gas price take ONGC Q1 net profit down by 8.2 per cent

The company got USD 51.03 for every barrel of crude oil it produced from fields.

27 July 2017 8:39 PM IST

Diversified conglomerate ITC on Thursday reported an increase of 7.37 per cent in standalone net profit to Rs 2,560.50 crore for Q1.

ITC records 7.37 per cent rise in Q1 net profit

Its total expenses were up 3.34 per cent to Rs 10,332.61 crore, as against Rs 9,998.18 crore of Q1 FY 2016-17.

27 July 2017 8:15 PM IST

IDFC Limited on Thursday registered a growth of over 65.2 per cent in consolidated net profit at Rs 299.40 crore for Q1.

IDFC Q1 net profit shoots up by 65 per cent at Rs 299 crore

The company's net profit in the corresponding quarter of 2016 stood at Rs 181.21 crore.

27 July 2017 8:01 PM IST

HDFC shares up nearly 6 per cent post Q1 results; mcap shoots up

Its consolidated net profit during the April-June quarter of previous fiscal stood at Rs 2,797 crore.

27 July 2017 7:52 PM IST

ONGC may buy all of the governments 51.11 per cent stake in HPCL

ONGC confirms govt slapping it, RIL, Dutch Shell with USD 3.9 bn...

The demand is in interpretation of contract for the Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea.

27 July 2017 7:39 PM IST

Coai said that this trend of mergers and consolidation, will remain a positive development, benefiting everyone in the long run.

COAI had 'no business' writing to TRAI: Reliance Jio on IUC row

COAI, on its part, defended itself saying it strives to ensure facts are placed on record to.

27 July 2017 7:15 PM IST

ONGC may buy all of the governments 51.11 per cent stake in HPCL

ONGC reports 8 per cent drop in Q1 net profit

Revenue was up at Rs 19,073.54 crore, from Rs 17,784.75 crore in the first quarter of 2016.

27 July 2017 6:18 PM IST

Most of the benefits are being targeted at 4G subscribers where competition is fierce as being targeted by Reliance Jio. (Representational Image)

India to displace US to become 2nd largest 4G phone market: report

With a base of 150 million users, India is currently placed behind China and the US.

27 July 2017 6:09 PM IST

ICICI Bank spokesperson said it has installed state-of-the-art note sorting machines that check the quality of millions of notes every day.

ICICI Bank Q1 net profit tanks to USD 319.6 million

Analysts on average had expected a net profit of Rs 20.43 billion, Thomson Reuters data showed.

27 July 2017 5:48 PM IST

Axis Bank MD and CEO Shikha Sharma

Axis Bank re-appoints Shikha Sharma as CEO for 3 more years

Axis Bank scotched various media reports, one of them being that she was asked by Tata Sons to work for their financial...

27 July 2017 5:33 PM IST

Idea said it plans to extend its 4G services to 20 circles across India by FY2017 after the board approved an additional Rs 1,000 cr capital expenditure to build its infrastructure.

Idea Cellular Q1 loss at Rs 815 crore on Jio woes

Idea, third largest telecmom company, had posted a profit of Rs 220 crore during same period last year.

27 July 2017 5:22 PM IST