Top 5 India business headlines

1. Indian currency trimmed its last increment, however, it is still higher by 8 paise from 65.16 US Dollars
(currency) in the last morning deals on the session of dollar selling from the banks and also export to aim to higher local equalities. The rupees opened sharply increments as compared to the US dollar on yesterday closing to 64.24 at other inter-banks for foreign exchanges in Mumbai. Breaking News in India it gained further to 64.02 on sustained dollar selling by banks lifted by stability in local equities after recent heavy losses.



2. On, 7th February, The Supreme Court suppressed 88 mining leases granted by the Goa government for violating procedure and also gave an ordered that fresh licenses be granted through a bidding process.The leases which were renewed for the second time. SC also announced the time to renewal time would run until March 15 after that day it would be the lapse, a bench headed by justice Madan B Lokur give the information.

3. As per a report published in Livemint, profitability is still elusive for consumer internet start-ups in India even after months of cost-cutting. An exploration of earnings reports of 43 consumer, which shows by the internet companies that the cumulative losses of more Then Rs.19,200 crore on revenues of Rs.26,090 crore for the fiscal year ended on 31st March 2017. Trending News India the list includes companies like Flipkart, Paytm, Zomato, Shopclues, Snapdeal, Hike amongst others. 



4. On Tuesday the Capricorn Food Products, India Ltd filed the Draft Red Herring Prospectus (DRHP) for the public offering (IPO). The share sale will include a fresh issue worth Rs171 crore. According to the sale documents the promoters and private equity fund Quadria Capital will sell 7.64 million shares in an offer for sale. In 2003, the Quadria Capital had invested $10 million in the company out of its India Build-Out Fund.  The expected share sale is to be around Rs 500 crore,  according to the company.Proceeds from the sale of new shares will be utilized to repay debt availed of by the company and its subsidiary and to meet general corporate expenses. 



5. On Tuesday, Central Government doubled import duty on sugar to 100% and raised duty on chana to 40% to protect domestic farmers.At present, customs duty or import tax on sugar is 50% and that of Chana (chickpeas) is 30%.The move is taken to full the aimed at curbing cheaper imports and ensure remunerative prices to domestic growers. Startup world news the info provided by the Central Board of Excise and Customs (CBEC) to seeks the increase import duty on all types of sugar (raw sugar, refined or white sugar, it is from the present 50% to 100%. Further, they also added that the higher tax has been imposed with instant effect and without changing any end-to-date. The sugar industry has been trying to  hike in import duty as ex-mill rates, which have been fallen below the cost of production, affecting their ability to make cane payment to farmers on time 

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