The business wrap: Cousin denies role in Cyrus Mistry's ouster from Tata, and six other top stories
In other headlines: Arun Jaitley said tax collections would exceed the Union Budget's estimates, and Indian markets gained after strong sectoral performances.
A look at the headlines right now:
- Cyrus Mistry’s cousin refutes claim that he influenced his ouster, calls him ‘Lame duck of Bombay House’: In a petition, the former Tata Sons chairperson had accused Mehli Mistry of pushing Ratan Tata to remove him from the post.
- Tax collections for 2016-2017 will exceed Budget estimate of Rs 16.3 lakh crore, says Arun Jaitley: The finance minister said demonetisation had not affected revenue collections, even as states asked the Centre to relax borrowing limits.
- Sensex gains 245 points, Nifty rises by 83 amid hopes of Centre achieving fiscal deficit target: The Bombay Stock Exchange’s automobile, industrial and telecom indices also rose following strong performances by sectoral companies.
- Banks reportedly received 94% of Rs 15.4 lakh crore in old notes after demonetisation: The Rs 14.5 lakh crore figure is expected to rise as NRIs and those who were abroad in the 50-day window still have time to deposit the scrapped bills.
- Xiaomi’s India sales cross $1-billion mark two years after entry into country: The China-based firm has increased its focus on the world’s largest-growing smartphone market, even as it has failed to meet sales targets at home.
- Trai wants your opinion on its latest net neutrality consultation paper: The regulatory body said it was important to identify the types of practices that violate the concept.
- Apple joins SoftBank’s Vision Fund with $1-billion investment: The Silicon Valley company believes this will help ‘speed the development of technologies that may be strategically important’ to it.
