News Round-up For The Week Ending July 18

Business

oi-Sunil

By Sunil Fernandes

Published: Saturday, July 18, 2015, 8:44 [IST]

Here's a quick look at the news round-up for the week ending July 18, 2015

Sensex reports good weekly gains of 3%

Benchmark indices soared during the course of the week as a Greece exit from the Eurozone was averted.

The Sensex ended the week with gains of 3 per cent on the back of buying in IT and banking shares.

MindTree results beats expectations

The results reported by MindTree beat expectations and the stock saw a good rally this week. MindTree reported net profits of Rs 138.2 crore, which was largely led by forex gains. Margins at the company were on the lower side.

CPI Inflation surprises on the upside

CPI inflation for the month of June came in at 5.4 per cent surprising on the upside. This has limited the possibility of a rate cut by the Reserve Bank of India in its policy meet early next month.

Charges collected by hotels is not service tax

The government has said that some restaurants, hotels, eateries besides charging for the food and beverages are also charging ‘service charges' in their bills. And these ‘service charges' are retained by the restaurants/hotels/eateries.

Gold imports slide 37% to $1.96 bn in June

Gold imports dipped by almost 37 per cent to USD 1.96 billion in June, a development which will help in keeping the current account deficit (CAD) in check.

Credit Card: Penalty only after 3 days of due date

The Reserve Bank of India has said that banks can levy late payment charges only when a credit card account remains ‘past due' for more than three days.

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