CHENNAI: The Income Tax Appellate Tribunal – Chennai bench on Wednesday ordered that a Rs 19,000-crore share buyback undertaken by technology major Cognizant in 2017-18 attracts dividend distribution tax of Rs 4,853 crore. The ITAT‘s ruling dismissed an appeal filed by Cognizant. Cognizant conducted a share buyback through a scheme approved by the Madras high…
Representative Image New Delhi: The retail apparel brands in the US and the EU, which together account for close to 55 per cent of global apparel trade, are expected to liquidate the high inventory build-up of FY2023 and book their orders for the spring and summer season in H2 FY2024. Despite a tepid demand environment…
New Delhi: Louis Philippe, a premium menswear brand owned by the Aditya Birla Group, has forayed into the Middle East region with the opening of the brand’s newest outlet in the UAE. Besides, Aditya Birla Fashion and Retail Ltd (ABFRL) plans to increase its retail footprint by launching several additional Exclusive Brand Outlets (EBOs) of…
NEW DELHI: Ethnic apparel retailer Sai Silks (Kalamandir) Ltd on Wednesday said its initial share sale will open for public subscription on September 20. The bidding for the anchor investors will open on September 18. The IPO of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares aggregating up to Rs 600 crore…
Representative Image The recent equities rally has stolen the sheen from gold ahead of the festive season that starts from Ganesh Chaturthi. Jewellers and industry executives said gold sales are down by up to 15 per cent compared to last Ganesh Chaturthi despite prices falling below Rs 60,000 per 10 gm. Though the price of…
NEW DELHI: Foreign minister S Jaishankar is likely to participate in both Quad and Russia and China-led SCO meetings on the margins of the 78th session of the UN General Assembly later this month, during what will be his first visit abroad after the G20 summit in Delhi.Jaishankar was scheduled to travel to Cuba later…
NEW DELHI: Road transport and highways minister Nitin Gadkari on Wednesday said that the government has decided against mandating six airbags on Indian cars, arguing that the new Bharat NCAP safety standards and star rating on cars will itself prompt companies to go for adding more safety apparatus to attract buyers. He also said that…
Richa Grover Badruka (L) & Raina Grover (R), Co-founders, 1 Hair Stop New Delhi: 1 Hair Stop, a hair topper and extension startup is expecting 30 per cent year-on-year (YoY) revenue growth in this fiscal on the back of its offline expansion plans and sustainable strategies, Raina Grover, co-founder of the company told ETRetail in…
Senco Gold, the largest organised jewellery retail player in eastern India, is likely having a golden run since its marktrading debut that added glitter to the brand value and led to increased footfall across stores. “We are seeing additional footfalls and our brand awareness among customers have increased due to the IPO,” Managing Director Suvankar…
In a surprise development, Bernard Looney has resigned as the CEO of BP, after less than four years in the oil major’s top job. The resignation came after it was revealed that he had failed to fully disclose details of past personal relationships with colleagues.“He did not provide details of all relationships and accepts he…
