Management

Ashok Leyland Q4 net down 70% at Rs 53 cr

Commercial vehicle maker Ashok Leyland today reported a 70.47 per cent decline in its net profit at Rs 53.32 crore for the quarter ended March 31, 2009, compared with Rs 180.57 crore in the same period a year ago. The total income in the fourth quarter also fell by 52.15 per cent to Rs 1,231.23 crore as against Rs 2,573.03 crore in the corresponding period last year, the company said.

Options limited for Madhya Pradesh

Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”

China 'strongly opposes' US steel pipe tariffs

China today condemned a US decision to slap tariffs on steel pipes from the Asian giant, saying it "strongly opposed" the move.

Top-8 cos add Rs 1 lakh cr in m-cap last week

The country"s most valued firm Reliance Industries (RIL) helped eight of the top-10 Sensex firms add over Rs 1 lakh crore in their market valuation during the last week, while the state-run MMTC and private telecom services provider Bharti Airtel saw value erosion.

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