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  1. 1. ECONOMIC TIMES<br />Presented by:-<br />Ritesh Abrol<br />MBA-2(c)<br />
  2. 2. HC say VODAFONE must pay Tax for HUTCH Buy<br /><ul><li>Bombay high court dismiss Vodafone a international plea challenging the IT department Rs. 12000 crore demand in the tax & penalty on dollar 11 billion takeover of Hutchison telecom.
  3. 3. Indian colgamerateEssar holds about 33% stake in Vodafone India.</li></li></ul><li>Contd……….<br /><ul><li>The I-T department held that Vodafone liable for not deducting tax at source from payment made to Hutchison & claimed around Rs. 12000 crore in tax & penalty on the deal.
  4. 4. I-T department can ask a foreign company to pay tax in India if it takes over another foreign entity that owns an Indian subsidiary & particularly , if the deal made outside the India.</li></li></ul><li>Nissan production<br /><ul><li>Nissan doubled production of its car Micra to 500 units per day in order to clear backlog of 2500 units.
  5. 5. Price of Micra in between Rs.3.98 lac. And Rs.5.29 lac.</li></li></ul><li>Reliance to sign gas supply contract with Essar Oil<br /><ul><li>After months of delay, Reliance Industries is finally ready to sign contract to supply natural gas from its eastern offshore KG-D6 fields to Essar Oil's Vadinar refinery in Gujarat.
  6. 6. RIL has sent a draft GSPA to Essar Oil and the contract may be inked within the next few days. </li></li></ul><li>Tata Sons profit declines 47% to Rs 1,620 cr in FY10<br /><ul><li>Tata Sons — the main holding company of the salt-to-telecom conglomerate, the Tata Group — reported a net profit of Rs 1,620 crore in 2009-10, its lowest since 2005-06 when it earned a profit of Rs 1,612 crore. 
  7. 7. The 2009-10 net is 47% lower than the Rs 3,050-crore profit reported in 2008-09. The dip has been attributed to an extraordinary income from the sale of a strategic investment in 2008-09. </li></li></ul><li>PepsiCo to set up low-cost foods unit.<br /><ul><li>After repeated unsuccessful attempts to buy out Gujarat-based snacks majors such as Balaji Wafers and A-Top Foods Products, beverage and snacks maker PepsiCo India is in the process of creating its own low-cost foods business and increasing manufacturing capacities across its plants.
  8. 8. While Frito-Lay remains category leader in the Rs 3,000-crore salty snacks market with four local brands—Lehar, Uncle Chipps, Aliva and Kurkure—which hold a combined 55-60% share, the multinational has been consistently losing share to local strongholds like Balaji and A-Top in the West and Haldiram and Bikanervala in the North. </li></li></ul><li>The division will be separate from PepsiCo’s joint venture with Tata Tea announced in April this year for healthy non-carbonated beverages, and which is expected to roll out its first product later this year.Details of the new foods value division are yet to be finalised, a PepsiCo spokesman said in response to an email query by ET seeking information about the new division.The efforts to hike capacity come after Frito-Lay’s talks with the Rajkot-based Balaji Wafers failed about a month back. Owned by local entrepreneur ChandubhaiVirani and his family, Balaji has an estimated turnover of Rs 350 crore.Virani, who started his venture in early 1980s by selling sandwiches in a cinema hall near Rajkot and then diversified to home-made chips, has been keenly sought-after by Frito-Lay. <br />
  9. 9. THANK you…….<br />