New Delhi, April 16 (IANS) Assocham has approached the Finance Ministry with a plea to reimpose moratorium on taking debt-ridden companies to NCLT under the Insolvency and Bankruptcy Code (IBC) till December 2021 in the face of severe outbreak of second wave of coronavirus. “Given the increasing pressure on businesses, it would be imperative to […]

Hyderabad, April 16 (IANS) Infrastructure major GMR Group on Friday announced the launch of GMR AeroCity Hyderabad which offers a gateway airport with the best-in-class logistics hub with smart technology. Spread across 1,500 acres, GMR AeroCity Hyderabad is envisaged to be an integrated mixed-use development, which includes key ports and establishments like business park, retail […]

New Delhi, April 16 (IANS) Amazon Prime has reached a user base of 200 million, according to the outgoing CEO Jeff Bezos, which is an increase of over 50 million during the pandemic only. In his final annual letter to Amazon’s shareholders on Thursday, Bezos who will be replaced by former AWS head Andy Jassy […]

New Delhi, April 15 (IANS) Base effect, along with healthy demand conditions abroad, pushed India’s merchandise exports higher by 60.29 per cent on a year on year basis in March 2021, official data showed on Thursday. The country’s merchandise exports during the month under review increased to $34.45 billion as compared to $21.49 billion in […]

New Delhi, April 15 (IANS) Domestic airlines are expected to log net losses in FY22 on the back of lower domestic air traffic compared with pre-pandemic levels, together with high fuel prices, ratings agency Crisil said. However, the agency said that these net losses will be 35-40 per cent below the ones reported for fiscal […]

New Delhi, April 15 (IANS) The ‘Asmbhav Summit’, successfully held virtually across India representing the voices and aspirations of lakhs of small retailers and traders across India saw enthusiastic participation from participants across industry. A key point that emerged was the need for stricter regulation and penalization for wrongs done by the foreign retailers posing […]

Mumbai, April 15 (IANS) IL&FS Group has addressed a debt of Rs 43,000 crore so far and the management has now raised its aggregate debt recovery estimate to Rs 61,000 crore. The previous estimate of overall debt recovery was Rs 56,000 crore. The increased estimate represents a resolution of nearly 62 per cent of overall […]

New Delhi, April 15 (IANS) Fuel prices in the country finally fell on Thursday with oil marketing companies deciding to pass the benefit of softer global oil prices earlier this month to the consumers. Accordingly, pump prices of petrol and diesel fell by 16 paisa and 14 paisa per litre respectively on Thursday. With this, […]

New Delhi, April 14 (IANS) Quint Digital Media Ltd (QDML) on Wednesday reported a net profit of Rs 45 lakh for the quarter ended March. During the previous quarter, the company had reported a net profit of Rs 18 lakh. Its revenue for operations for the fourth quarter of FY21 stood at Rs 6.56 crore, […]

New Delhi, April 14 (IANS) Moodys Investors Service has said in a new report that while the quantitative easing (QE) programmes launched by the central banks in the emerging markets are largely positive, the risks involved vary widely because of differing macroeconomic fundamentals. In the report, Moody’s analysed 11 emerging markets where the central banks […]

Mumbai, April 14 (IANS) Having barely recovered from the one-year pandemic lockdown, the fresh 15-day ‘lockdown-style’ restrictions in Maharashtra could lead to massive economic and business losses, the Mumbai-headquartered All India Association of Industries (AIAI) said on Wednesday. “The restrictions will impact over Rs 7,500 crore tax revenues and the Centre will lose over Rs […]

New Delhi, April 14 (IANS) Bharti Airtel on Wednesday announced a new corporate structure with focus on four verticals — Digital, India, International and Infrastructure. The new structure envisages Airtel Digital Ltd folding into listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, […]

New Delhi, April 14 (IANS) Despite the uncertainty prevailing in FY 2020-21 owing to Covid-19 pandemic, fundraising in FY 2020-21 was better than that in FY 2019-20 for both Public Issues and Rights Issues, the finance ministry said in a statement on Wednesday. During FY 2020-21, Rs 46,029.71 crore and Rs 64,058.61 crore were raised […]

New Delhi, April 14 (IANS) Fuel prices in the country remained unchanged on Wednesday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices static for over a fortnight now. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre […]

New Delhi, April 13 (IANS) The Supreme Court on Tuesday said when the resolution plan is approved by the National Company Law Tribunal (NCLT), the claims, which are not part of the plan, would stand extinguished and the proceedings related to them stand terminated. A bench of Justices R.F. Nariman, B.R. Gavai and Hrishikesh Roy […]

Mumbai, April 13 (IANS) Predictions of a normal monsoon, along with short covering and hopes of healthy Q4FY21 results, triggered a rebound in India’s benchmark equity indices from two-month lows on Tuesday. Besides, reports of a fall in incremental Covid cases and higher recoveries stabilised sentiments. This led a fall in India’s Volatility Index by […]

By Rohit VaidNew Delhi, April 13 (IANS) Resurgence of Covid infections along with the re-imposition of partial travel restrictions in some major states have triggered a clamour among a section of airlines for financial assistance as well as reduction of flight capacity. Industry insiders have contended that rising Covid cases have severely impacted demand, leading […]

New Delhi, April 13 (IANS) Retail and wholesale businesses across the country have taken a hit of Rs 46,000 crore in the last 10 days amid curfews and partial lockdowns across several states. According to the Confederation of All India Traders (CAIT), retail businesses have taken a hit of Rs 32,000 crore, while wholesale businesses […]

New Delhi, April 13 (IANS) Industry body FICCI has suggested that the government should provide incentives to vaccine manufacturers to increase the production of Covid-19 vaccines in the country. In a statement, it recommended financing vaccine makers under a production linked incentive (PLI) type scheme to support the vaccine manufacturers. Noting that there is an […]

New Delhi, April 13 (IANS) Distributed solar energy company Amplus Solar, Asia’s has acquired 17 On-site operational solar projects from Sterling and Wilson totalling 7.2 MW. Spread over Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Telangana and Karnataka, these 17 projects have been supplying solar power to 13 leading Industrial, Commercial, and Institutional customers. This addition […]

Mumbai, April 12 (IANS) Siemens Healthcare Private Ltd, a wholly-owned subsidiary company of global medtech company Siemens Healthineers AG, has elevated Vivek Kanade as its Managing Director. Kanade will continue to lead the business for Siemens Healthineers India including manufacturing, sales and distribution, strategy for ‘Zone India’, comprising of neighboring countries — Bangladesh, Nepal, Sri […]

New Delhi, April 12 (IANS) The Supreme Court on Monday held that lack of scientific material, blood tests or breath analyser results will not prevent insurance companies from establishing a case for exclusion from liability under ground of intoxication in a contract. A bench comprising Justices U.U. Lalit, Indira Banerjee and K.M. Joseph said: “If […]

Mumbai, April 12 (IANS) The Indian rupee continued to depreciate for the sixth consecutive day, breached the 75 per US dollar mark amid rising cases of Covid-19 and concerns of fresh localised lockdowns. On Monday, the rupee closed at 75.05 per dollar after weakening to an over eight-month low of 75.14 against the greenback. Further, […]

Chennai, April 12 (IANS) Requesting the Tamil Nadu government for relaxation or waiver of statutory payments, the Federation of Hotel and Restaurant Associations of India (FHRAI) also urged the former to have Covid-19 restriction norms for hotel meetings and banquets commensurate to the venue size. In a letter to Tamil Nadu Chief Minister K. Palaniswami, […]

New Delhi, April 12 (IANS) Concerned over possible imposition of lockdowns due to a resurgence in coronavirus infections, the Apparel Export Promotion Council (AEPC) has urged the government to keep factories free from lockdowns and requested for essential service sector tag for the labour-intensive apparel export industry. For ensuring uninterrupted manufacturing at factories, the industry […]

New Delhi, April 12 (IANS) Base effect, along with low interest rates and pent-up demand, accelerated domestic passenger vehicle sales in March 2021 on both year-on-year and sequential basis. Sales of passenger vehicles increased to 290,939 last month compared to over 135,196 units during the same period of 2020. In February 2021, 281,380 units of […]

Chennai, April 12 (IANS) Pramerica Life Insurance Ltd on Monday announced the elevation of Kalpana Sampat as its Managing Director & CEO with effect from April 9, 2021. She was earlier the company’s Chief Operating Officer. With her elevation, Sampat becomes one of the three female CEOs in the Indian life insurance sector. “Kalpana is […]

New Delhi, April 12 (IANS) Fuel prices in the country remained unchanged on Monday with oil marketing companies continuing the pause mode and keeping petrol and diesel prices static for the 13th consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively […]

New Delhi, April 11 (IANS) Amid rising Covid cases and talks of partial and total localised lockdowns, most of the CEOs in India believe that along with the ongoing vaccination drive, stringent implementation of safety norms should be adopted instead of going for restrictions and partial lockdowns, according to a CII survey. Around 75 per […]

New Delhi, April 11 (IANS) Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the 12th straight day across the four metro cities on Sunday. In the national capital, petrol was sold for Rs 90.56 per litre. Prices of the fuel in Mumbai, Chennai and Kolkata were at Rs 96.98, Rs 92.58 and […]

New Delhi, April 10 (IANS) The Indian Railway Stations Development Corporation Ltd. (IRSDC) has invited e-Request for Proposal (RFP) for leasing of land parcel for mixed-use development as a part of Bijwasan railway station development project. The IRSDC in a statement said that the total land area available for mixed used development is 18,000 square […]

Dhahran, April 10 (IANS) Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimise its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening […]

New Delhi, April 10 (IANS) Travel between India and Sri Lanka will become easier in the near future as the two countries have finalised an ‘Air Bubble’ agreement. Notably, the current international flights are operated under the ‘Air Bubble’ agreements between India and other countries. This special arrangement mandates certain prerequisites along with permissions which […]

New Delhi, April 10 (IANS) India’s toll roads are likely to witness a 14-15 per cent growth in collections in FY22, ratings agency ICRA said in a report. Accordingly, this growth will be achieved on a low base following an estimated de-growth of 5-7 per cent in FY21. “Road traffic has witnessed a marked improvement […]

New Delhi, April 10 (IANS) The recent spike in Covid-19 cases along with associated lockdowns, though localised, could disrupt foreign portfolio investments as well as domestic credit markets, said India Ratings and Research (Ind-Ra). According to Ind-Ra, India’s second round of Covid outbreak is moving in a direction different from the global trend. “The cases […]

New Delhi, April 10 (IANS) India’s automobile OEMs are accelerating their shift towards EVs by investing in startups and enhancing collaborations, HDFC Securities said. “Along with developing electric products in-house, OEMs are open to collaborations, to reduce the speed-to-market as well as maintain capital efficiency,” HDFC Securities said in a report. “Part suppliers are attempting […]

New Delhi, April 10 (IANS) JioMart activity is scaling up as per a report by JP Morgan research which found brisk online activity across stores and formats it visited in Mumbai in the last week of March that could have been nudged further by rising Covid-19 cases. “We found the delivery infrastructure to be a […]

Mumbai, April 10 (IANS) States have once again begun imposing restrictions to prevent the spread of Covid-19 virus. For instance, Maharashtra, which is seeing the maximum number of cases, has announced the most stringent one — a mini-lockdown through April 30. Many other states have also announced night curfews and weekend lockdowns. Maharashtra is also […]

New Delhi, April 10 (IANS) Fuel prices in the country remained unchanged on Saturday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices static for 11th consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre, respectively, […]

Mumbai, April 9 (IANS) India’s foreign exchange reserves fell $2.415 billion during the week ended April 2. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves decreased to $576.869 billion from $579.285 billion reported for the week ended March 26. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special […]

New Delhi, April 9 (IANS) India’s second wave of Covid-19 infections pose an increased risk to the country’s fragile economic recovery and its banks, Fitch Ratings said. Accordingly, Fitch expects a moderately worse environment for the India’s banking sector in 2021, but headwinds would intensify should rising infections and follow-up measures to contain the virus […]

Mumbai, April 9 (IANS) The renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has secured a turnkey EPC Contract worth Rs 5,000-7,000 crore, to set up the Sudair Solar PV Project of 1.5 GW capacity in Saudi Arabia. In a statement, L&T said it has received the contract from the consortium of […]

Lucknow, April 9 (IANS) To ease government transactions and improve transparency and efficiency, the Yogi Adityanath government has decided to implement the e-Kuber system of RBI to disburse government funds directly to the payee’s bank account, in times of natural disasters like flood, drought, hailstorm, excess rain, lightning, etc. Chief minister Yogi Adityanath has issued […]

Lucknow, April 9 (IANS) To ease government transactions and improve transparency and efficiency, the Yogi Adityanath government has decided to implement the e-Kuber system of RBI to disburse government funds directly to the payee’s bank account, in times of natural disasters like flood, drought, hailstorm, excess rain, lightning, etc. Chief minister Yogi Adityanath has issued […]

Chennai, April 9 (IANS) Siemens Limited and the Hinduja group’s Switch Mobility Automotive Limited have signed a Memorandum of Understanding (MoU) to play in the electric commercial vehicles segment. Siemens also said Siemens Financial Services (SFS), the financing arm of Siemens AG, would consider a minority investment in OHM Global Mobility Private Limited, another Hinduja […]

New Delhi, April 8 (IANS) The Department of Telecommunications (DoT) has issued directions that in respect of AGR dues, there shall be no reassessment, nor the telecom operators be allowed to raise any disputes. The DoT issued the directions through an affidavit filed in the Supreme Court following an earlier order of the apex court. […]

New Delhi, April 8 (IANS) Express Stores plans to expand its network both in tier 1 and 2 cities along with a growth in revenue in 2021. Apoorv Jain, Co-Founder & CEO at Express Stores said that the company plans to strengthen its presence across the National Capital Region (NCR). “We have multiple partner stores […]

Bengaluru, April 8 (IANS) Global software major Infosys on Thursday said it won a contract for digital transformation of steel maker ArcelorMittal’s IT operations. “As part of the deal, we will deliver next-generation application and business process management (BPM) services to ArcelorMittal,” the city-based firm said in a statement. Infosys will work with the London-based […]

Bengaluru, April 8 (IANS) Global software major Infosys on Thursday said it won a contract for digital transformation of steel maker ArcelorMittal’s IT operations. “As part of the deal, we will deliver next-generation application and business process management (BPM) services to ArcelorMittal,” the city-based firm said in a statement. Infosys will work with the London-based […]

New Delhi, April 8 (IANS) State-run construction major NBCC Ltd, and Suraksha Realty have submitted fresh resolution plans for Jaypee Infratech. The Committee of Creditors (CoC) are scheduled to meet on April 12 to discuss both the resolution plans. This is the fourth time that both the companies have submitted their bids for the bankrupt […]

Chennai, April 8 (IANS) Malaysia’s MMC Corporation Behard, a utility and infrastructure conglomerate has chosen India’s Ramco Systems Ltd’s enterprise resource planning (ERP) for digital transformation of its five ports business systems, said top officials. The MMC Corporation has five ports under its fold in Malaysia. Internationally, MMC has presence in Saudi Arabia via Red […]

New Delhi, April 8 (IANS) The National Company Law Appellate Tribunal has admitted hospitality major OYO’s plea against the admission of an insolvency plea against its subsidiary by the Ahmedabad-bench of NCLT. OYO had moved the appellate tribunal on Wednesday after NCLT on March 30 ordered the commencement of the insolvency proceeding against OYO Hotels […]

New Delhi, April 8 (IANS) The country’s largest lender State Bank of India (SBI) and the umbrella body of retail and digital payments National Payments Corporation of India (NPCI) have joined hands to launch a dedicated campaign to focus on deepening the reach of UPI transactions across all sections of the population. The joint initiative […]

New Delhi, April 8 (IANS) Vi Business, the enterprise arm of Vodafone Idea Ltd (VIL), has launched ‘Integrated IoT Solutions’ for enterprises. “With this industry first initiative, VIL has become the only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security and support,” the […]

New Delhi, April 7 (IANS) The Centre on Wednesday approved a proposal for implementation of Production Linked Incentive (PLI) scheme ‘National Programme on High Efficiency Solar PV (Photovoltaic) Modules’ for achieving manufacturing capacity of gigawatt (GW) scale in high efficiency solar PV modules. The approval was given by the Union Cabinet which met here under […]

New Delhi, April 7 (IANS) Automobile major Mahindra & Mahindra has initiated a new end-to-end solution for scrapping of old vehicles. The company has signed an MoU with Mahindra MSTC Recycling Private Ltd (MMRPL) towards offering its customers first of its kind end-to-end solution for scrapping of vehicles. At present, MMRPL is engaged in the […]

Chennai, April 7 (IANS) Global automotive manufacturer Stellantis group’s Indian arm PCA Automobiles India Private Limited is planning to launch one new model every year for the next four-five years and will ship out those vehicle platforms, a senior official said on Wednesday. Launching the company’s first vehicle for the Indian market, Citroen C5 Aircross, […]

Mumbai, April 7 (IANS) The Reserve Bank of India (RBI) has relaxed the period of external commercial borrowing (ECB) proceeds in terms deposits. Post the decision, unutilised ECB proceeds drawn down on or before March 1, 2020 can be parked in term deposits with AD Category-I banks in India, prospectively up to March 1, 2022. […]

New Delhi, April 7 (IANS) The Ahmedabad-bench National Company Law Tribunal (NCLT) has admitted the insolvency application against OYO subsidiary, OYO Hotels & Homes Private Ltd (OHHPL). Following the development, OYO has moved the National Company Law Appellate Tribunal (NCLAT) against the NCLT order. An OYO spokesperson said: “We are surprised to hear that the […]

New Delhi, April 7 (IANS) Reliance Industries Chairman Mukesh Ambani topped the Forbes list of India’s 10 richest billionaires with a net worth of $84.5 billion, followed by Adani Group chief Gautam Adani. Amid the Covid-19 pandemic, Ambani accomplished a fund-raising feat, garnering $35 billion through a string of deals to achieve his target of […]

Hyderabad, April 6 (IANS) T-Hub on Tuesday announced the launch of the fifth edition of Lab32, its flagship pre-acceleration programme under which 30 startups will receive goal-oriented consultation from leading experts on business goals like revenue growth, customer acquisition, market expansion and product roadmap. T-Hub is a startup catalyst established in November 2015 as a […]

New Delhi, April 6 (IANS) Credit Suisse CEO Thomas Gottstein has said that “serious lessons will be leart” as the global bank took a $4.7 billion hit and fired two top executives after the collapse of the hedge fund, Archegos. Gottstein said: “The significant loss in our Prime Services business relating to the failure of […]

New Delhi, April 6 (IANS) Bharti Airtel on Tuesday announced an agreement with Reliance Jio Infocomm to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) to Jio. The agreement is subject to statutory approvals, Airtel said in a statement. Through this […]

New Delhi, April 5 (IANS) Indian Railways on Monday completed the arch closure of the iconic Chenab Bridge, the world’s highest railway bridge and a part of the Udhampur-Srinagar-Baramulla rail link project. In a statement, the Railway Ministry said that this was one of the most difficult parts of the bridge over the Chenab and […]

New Delhi, April 5 (IANS) National Council of Applied Economic Research (NCAER), Indias largest and oldest economic think-tank, has announced the appointment of Poonam Gupta as its new Director-General. Poonam Gupta, the first woman Director General of NCAER, will succeed Shekhar Shah who led NCAER since 2011 and will complete his second five-year term in […]

New Delhi, April 5 (IANS) With successful completion of trial operations by Unit 2 (660 MW) capacity in Stage 2 (2X660MW) of Tanda Super Thermal Power Station in Uttar Pradesh, the NTPC said that its installed capacity has risen to 65,810 MW. NTPC is striving to achieve highest reliability and efficiency keeping safety and environment […]

New Delhi, April 5 (IANS) Loss of growth momentum, due to a surge in Covid-19 cases as well as high input cost pressure, decelerated pace of new orders and production for India’s manufacturing sector in March. The IHS Markit India Manufacturing PMI report said that firms scaled up production and input buying in line with […]

New Delhi, April 5 (IANS) Loss of growth momentum due to a surge in Covid-19 cases as well as high input cost pressure decelerated pace of new orders and production for India’s manufacturing sector in March. Accordingly, IHS Markit India Manufacturing PMI report said that firms scaled up production and input buying in line with […]

Mumbai, April 5 (IANS) The shares of multiplex players PVR and Inox Leisure plunged on Monday post the Maharashtra government’s decision to shut cinema halls and multiplexes amid rising number of Covid cases. Around 12 noon, shares of PVR on the BSE were trading at Rs 1,136.20, lower by Rs 100.60 or 8.13 per cent […]

New Delhi, April 5 (IANS) Oil marketing companies (OMCs) on Monday continued on the pause mode and decided against revising petrol and diesel prices after cutting its retail rates last week on Tuesday. Accordingly, pump prices of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively in […]

New Delhi, April 4 (IANS) Although the economy moves towards a rebound, unemployment remains the topmost worry among urban Indians, a report said. An Ipsos survey showed that joblessness remains India’s topmost worry and has further increased by 4 per cent in ‘worry’ levels. Likewise, Covid-19 which is India’s second biggest worry, after a major […]

New Delhi, April 4 (IANS) The iconic SUV, Mahindra Thar is made by using a unique process called Barbeque Framing at the Nashik facility. Barbeque framing is not something to be seen at car manufacturing plants but is an important fixture at Mahindra & Mahindra’s plant. The Thar is manufactured at the Nashik facility. The […]

Mumbai, April 4 (IANS) Hyundai Motor India Ltd (HMIL) on Sunday announced the culmination of durability tests being conducted on its upcoming 7-seater SUV, Hyundai Alcazar. “Developed to redefine benchmarks, Hyundai Alcazar has been tested over varying terrains such as rough roads, fast-paced highways and hilly terrain. Pushed to the limits, Hyundai Alcazar has surpassed […]

Mumbai, April 4 (IANS) IL&FS has received Rs 693 crore worth of settlement claims for two road projects from the National Highways Authority of India (NHAI). With the latest development, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 road projects. In a statement, IL&FS said that its subsidiary […]

New Delhi, April 4 (IANS) Centre has sanctioned an amount of Rs 25,586 crore under the ‘Stand-Up India’ scheme to over 1.14 lakh accounts up to March 23 since the inception of the scheme. A total of Rs 3,335.87 crore has been sanctioned for 16,258 borrowers from the Scheduled Castes category under the schemed, followed […]

New Delhi, April 4 (IANS) Oil marketing companies have kept petrol and diesel prices unchanged for the fifth straight day. In the national capital, petrol was sold for Rs 90.56 per litre on Sunday. Price of the fuel in the other key cities of Mumbai, Chennai and Kolkata were at Rs 96.98, Rs 92.58 and […]

Visakhapatnam, April 3 (IANS) Having achieved it’s target of handling 69.84 metric tons (MT) in financial year 2020-21, the Visakhapatnam Port Trust (VPT) is aiming to handle 80 million MT of cargo in the current fiscal. Addressing a media conference here on Saturday, Chairman K Rammohan Rao said that the VPT maintained 3rd position among […]

New Delhi, April 2 (IANS) Even as the country looks at electric vehicle to provide pollution free transportion options, a study has suggested that in the intervening auto LPG can be a better and cleaner fuel option than regularly used petrol and diesel. Tailpipe emissions from Auto LPG have been found to be significantly lesser […]

Mumbai, April 2 (IANS) The Crisil Ratings credit ratio (upgrades to downgrades) scaled to 1.33 in the second half of fiscal 2021 – with upgrades and downgrades at 294 and 221, respectively – from a decadal low of 0.54 in the previous half, as demand recovery strengthened and GDP growth returned to positive territory in […]

New Delhi, Apr. April 2 (IANS) The Finance Ministry has released an amount of Rs 4,608 crore to the states for providing grant-in-aid to the local bodies. The grants are both for the Rural Local Bodies (RLBs) and Urban Local Bodies (ULBs). Out of this, RLBs will get Rs 2,660 crore and ULBs will receive […]

New Delhi, April 1 (IANS) Base effect, along with low interest rates and preference for personal mobility due to the pandemic, accelerated year-on-year sales momentum of major automobile players during March. Maruti Suzuki reported a growth of over 99 per cent in its overall sales during March 2021 on a year-on-year basis. The company sold […]

Mumbai, April 1 (IANS) Tata Motors on Thursday reported a sale of 66,609 units of vehicles in March. The sales were six-fold higher compared to 11,012 units sold in March 2020. Sales were severely hit in March last year as Covid cases surged during the period across the country. The company sold 36,955 commercial vehicles […]

New Delhi, April 1 (IANS) The Commodity Participants Association of India (CPAI) has met Finance Minister Nirmala Sitharaman and sought her immediate intervention and policy support following a sharp decline in the volumes of exchange-traded commodities. During the meeting, the CPAI representatives tabled their concerns pertaining to current challenges and hurdles that the industry is […]

Bengaluru, April 1 (IANS) Global software major Wipro on Thursday announced buying Australia-based Ampion for $117 million (Rs 858 crore), as it provides cyber security, Dev Ops (software development and IT operations) and engineering services. “The transaction is expected to be completed during the quarter ending June 30, 2021, subject to regulatory approvals,” said the […]

Mumbai, April 1 (IANS) The Board of Britannia Industries has appointed former Reserve Bank Governor Urjit Patel as the company’s Additional Director in the category of Non-Executive and Independent Director. He has been appointed as the Additional Director with effect from March 31 for a five-year period. “The Board of Directors of the Company at […]

New Delhi, April 1 (IANS) JM Financial has reiterated a buy with a target price of Rs 2,500 as Reliance Industries Limited (RIL) is entering a strong free cash flow generation phase with major capex completed and expectation of strong 17-18 per cent EPS CAGR over the next 3-5 years led by Digital and Retail […]

New Delhi, March 31 (IANS) Realty major DLF said on Wednesday that its CEO and wholetime director Rajeev Talwar has retired for his post. “Further to our disclosure dated January 29, 2021, please note that Rajeev Talwar has been superannuated from the close of business hours of March 31, 2021,” the company said in a […]

New Delhi, March 31 (IANS) India has retained the Reserve Bank’s retail inflation target band of 2-6 per cent under the ‘Flexible Inflation Targeting’ framework. The target for retail inflation has been retained at 4 per cent with a margin of 2 per cent on either side for the period of 2021-26. Economic Affairs Secretary […]

New Delhi, March 31 (IANS) Amazon Pay on Wednesday announced the launch of Delhi Metro Smart Card recharge on Amazon.in. Customers using the Delhi Metro can recharge their cards in a convenient, cashless and safe manner, said a company statement. “As part of our commitment to our customers, we are constantly innovating and creating new […]

Mumbai, March 31 (IANS) The battle between Tata Sons and Shapoorji Pallonji Group over the latter’s exit from Tata Sons is set to continue even as the Supreme Court has resolved the long-drawn tussle between the two groups. A major contention between the two groups is the difference over the exact value of SP Group’s […]

New Delhi, March 31 (IANS) India’s budgetary fiscal deficit for the April-February 2020-21 period stood at Rs 14.05 lakh crore, or 76 per cent of the revised estimates (RE). The 2020-21 deficit — the difference between revenue and expenditure — had been enhanced to Rs 18.48 lakh crore, as compared to the earlier target of […]

Chandigarh, March 31 (IANS) In a step aimed at giving a major push to the state’s food processing sector, the Punjab Agro Industries Corporation on Wednesday gave nod for forming a special purpose vehicle (SPV) for branding and marketing of products manufactured by micro food processing units. The decision was taken at a meeting of […]

New Delhi, March 31 (IANS) India’s Foreign Trade Policy (FTP) 2015-20 has been extended till September 30. The policy was applicable till March 31. Accordingly, the Union Commerce and Industry Ministry in a statement on Wednesday said: “The existing Foreign Trade Policy 2015-2020 which is valid up to March 31, 2021 is extended upto September […]

Mumbai, March 31 (IANS) Sterling and Wilson Solar Solutions, Inc (SWSS), the US subsidiary of Sterling and Wilson Solar Ltd (SWSL) has announced that it has signed an order worth $121.7 million (Rs 890 crore) in the Pacific Northwest region of the US. In a regulatory filing, Sterling and Wilson Solar said that the order […]

New Delhi, March 31 (IANS) Budget airline SpiceJet has entered into a Memorandum of Understanding (MoU) with Avenue Capital Group, New York for financing, acquisition and sale and lease-back of new planes. Accordingly, the Avenue Capital Group are specialists in the field of aircraft leasing and have identified the new planes to be ordered by […]

Mumbai, March 30 (IANS) A strengthening US dollar as well as rising bond yields depreciated the Indian rupee to a month’s low level on Tuesday. The rupee closed at 73.38 per dollar, down from 72.51 on Friday. The broad strength in the dollar has hit almost all emerging market currencies, while the India rupee looks […]

New Delhi, March 30 (IANS) International property consultant Knight Frank has observed in its recent Attitudes Survey 2021 that 14 per cent of India’s ultra-high net worth individuals (UHNWIs, $30 million plus) are from the salaried employee segment. This makes India the fourth highest contributor in the Asia Pacific for salaried employees in the ultra-wealthy […]

New Delhi, March 30 (IANS) IndiaEs inflation trend is uncomfortably high which will restrict the Reserve Bank’s ability to offer further rate cuts, Moody’s Analytics said. In a note, Moody’s Analytics cited that retail inflation has held above the Reserve Bank’s 4 per cent target for the past eight months. Accordingly, IndiaEs core CPI excluding […]

New Delhi, March 30 (IANS) Torrent Gas has signed a Share Purchase Agreement (SPA) with the promoters of Sanwariya Gas for the takeover of the company to provide Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mathura. The transaction is subject to the approval from PNGRB and fulfilment of other condition precedents. With […]

Mumbai, March 30 (IANS) Oil marketing companies reduced fuel prices on Tuesday after a four-day halt. Prices of the transportation fuel declined in the range of 22-19 paise across the four metros. In the national capital, petrol was sold for Rs 90.56 per litre, 22 paise lower than the previous level of Rs 90.78. In […]

New Delhi, March 29 (IANS) The container ship that blocked the Suez Canal has been freed and is now on the move. Reports said the Even Given was under way and heading for the Great Bitter Lake further along the canal, about 45km away. Boskalis, the salvage company involved in the rescue, said the ship […]

New Delhi, March 29 (IANS) Centre has received multiple Expressions of Interest (EoI) for the privatisation of Neelachal Ispat Nigam Ltd (NINL). In a tweet on Monday, Secretary for the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey said that the transaction has moved to the second stage as per schedule. “Multiple […]

Pasel (Switzerland), March 29 (IANS) Tennis great Roger Federer has become an official brand ambassador for Switzerland Tourism (ST), the country’s national tourism board. “Roger Federer and Switzerland Tourism will together develop initiatives to promote Switzerland globally. The support is much needed at this time, emerging from the biggest tourism crisis since the Second World […]

New Delhi, March 29 (IANS) Stock markets in Asia heaved a sigh of relief and crude oil prices fell as the vessel blocking the Suez Canal was freed. This will clear the canal and allow movement on the busiest waterway in the world. Crude prices fell after rising 4 per cent over the last few […]

New Delhi, March 28 (IANS) The National Investigation Agency (NIA) on Sunday arrested a Fake Indian Currency Notes (FICN) racketeer having association with a gang of Bangladeshi smugglers involved in the illegal trade. Jakir Sekh, a resident of Bahargoria in Purba Bardhaman district in West Bengal, used to receive FICNs from Bangladesh based smugglers through […]

Gorakhpur, March 28 (IANS) It is a Holi bonanza for the aviation sector of Uttar Pradesh as national carrier Air India’s wholly-owned subsidiary Alliance Air on Sunday commenced daily direct flights from Gorakhpur to Lucknow and back. As many as seven new routes will be opened for air travel — five from Sunday while two […]

New Delhi, March 28 (IANS) National carrier Air India’s wholly-owned subsidiary Alliance Air on Sunday commenced daily direct flights from Gorakhpur to Lucknow and back. The airline has deployed a 70-seater aircraft to connect these cities. “The airline is already connecting Gorakhpur and Delhi with daily flights,” the airline said in a statement. “This new […]

New Delhi, March 28 (IANS) Narrowing the price gap between internal combustion engine equipped two-wheelers and their electric variant, can accelerate electrification of urban focused scooters, said Motilal Oswal Financial Services Ltd. (MOFSL). Accordingly, MOFSL in a report cited that cost of ownership due to regulatory factors, rising fuel prices, reduction in Lithium-ion battery prices, […]

New Delhi, March 28 (IANS) Private sector could help increase funding options for creating railway infrastructure, said ratings agency ICRA. “Given the increased funding requirements, besides higher global business services (GBS), other avenues like Joint Ventures (JVs) with the state government, sourcing funds from multilateral financing institutions, and attracting private sector investment will be important,” […]

New Delhi, March 28 (IANS) Headwinds for India’s economy might emerge due to higher inflation prospects, EY India said. According to the latest ‘EY Economy Watch’ report, persistently high domestic fuel prices on account of steadily rising global crude prices has stroked inflationary pressure. Lately, recovery in global crude prices has been driven by a […]

New Delhi, March 27 (IANS) The Indian Railway Finance Corporation (IRFC), the dedicated financing arm of the Indian Railways has raised Rs 1,375 crore through issuance of domestic bonds. The fund has been raised at 6.80 percent coupon rate with 20-year maturity, IRFC said in a statement. “The bond issuance received a very good response […]

New Delhi, March 27 (IANS) Noting that investments in the Indian agrochemicals sector are increasing despite Covid-19, the Pesticides Manufacturers & Formulators Association of India (PMFAI) has urged the Centre to extend policy support to enable a two-fold growth of the Indian agrochemical market double, with a major focus on exports. Addressing the 52nd Annual […]

New Delhi, March 27 (IANS) The United States Trade Representative has announced initiation of investigation against the taxation on digital services adopted or under consideration by countries including the equalisation levy applied by India. The other counties under investigation included Italy, Turkey, UK, Spain and Austria. A statement from the office of the USTR said […]

Mumbai, March 27 (IANS) In a move in the privatisation process of Bharat Petroleum Corporation Ltd. (BPCL), the state-run energy major has sold its entire 61.5 per cent in Numaligarh Refinery in Assam. The privatisation-bound company has sold its stake to a consortium of Oil India Ltd. (OIL) and Engineers India and Government of Assam […]

New Delhi, March 27 (IANS) Fuel prices were unchanged for the second straight day after declining for two days in a row. In the national capital, petrol was sold for Rs 90.78 per litre. Price of the fuel in Mumbai, Chennai and Kolkata was at Rs 97.19, Rs 92.77 and Rs 90.98 per litre, respectively […]

Mumbai, March 26 (IANS) Vehicle manufacturer Mahindra and Mahindra Ltd (M&M) announced on Friday that its board has cleared the appointment of Anish Shah as the new Managing Director and Chief Executive Officer of the company with effect from April 2, 2021. Anish Shah is presently the Deputy Managing Director and Group Chief Financial Officer […]

New Delhi, March 26 (IANS) To bring parity in UPI digital payments and ending the monthly race to the top spot, the National Payments Corporation of India (NPCI) has issued guidelines capping the market share of UPI transactions to 30 per cent. This will help in providing diverse opportunity and prevent market dominance of the […]

Mumbai, March 26 (IANS) In a much awaited development, JSW Steel has implemented the resolution plan for Bhushan Power and Steel Limited (BPSL) making the payment of Rs 19,350 crore to the financial creditors to acquire the bankrupt company. Post the transaction, Piombino Steel Limited (PSL), a wholly-owned subsidiary of the company, now owns 100 […]

Mumbai, March 26 (IANS) Shares of Sterling and Wilson Solar, a Shapoorji Pallonji Group (SP Group) company, plunged over 10 per cent after the Supreme Court dismissed appeals of the group and set aside the judgement which had ordered the reinstatement of Cyrus Mistry as Chairman of Tata Sons. Around 2.30 p.m., shares of Sterling […]

Chennai, March 26 (IANS) Commercial vehicles major and part of Hinduja Group Ashok Leyland Ltd on Friday launched its 4-axle 14-wheeler truck. The Gross Vehicle Weight (GVW) of the new truck is 40.5 ton. “We have last year launched AVTR – India’s first Modular Truck platform to address the varied Load-Road-Application and customer requirements. Now, […]

Mumbai, March 26 (IANS) The automotive components sector will see revenue rebound 21-23 per cent next fiscal as domestic and export demand revives after two straight contractions and higher margins lift its operating profits, ratings agency Crisil said on Friday. Also, demand revival along with prudent capital spending and working capital management, will lead to […]

Mumbai, March 26 (IANS) Mahindra & Mahindra (M&M) on Friday said that it’s board of directors has granted an in-principle approval for the merger of its subsidiary Mahindra Electric Mobility Ltd into the company. In a statement, M&M said that the consolidation would categorise EV operations in two focused verticals — ‘Last Mile Mobility’ (LMM) […]

New Delhi, March 26 (IANS) The Indian Gas Exchange (IGX), India’s first authorised Gas Exchange, has introduced open auction trading on its platform. The trading through new formats has commenced with effect from Thursday. The proposal for change was made to downstream regulator PNGRB and the same was approved by it last week, IGX said […]

Mumbai, March 26 (IANS) The shares of Tata Group companies shot up on Friday after the Supreme Court came up with a favourable judgement for the group in the case relating to removal of Cyrus Mistry as the as the executive chairman of the conglomerate. The Supreme Court on Friday accepted all contentions of the […]

New Delhi, March 25 (IANS) Honeywell has partnered with FarEye, a low-code SaaS platform, to provide its intelligent delivery management platform to Honeywell mobile computer users. A statement said that FarEye allows mobile workers with devices to manage, visually track and monitor delivery logistics operations. It works with major retailers, carriers & consumers around the […]

New Delhi, March 25 (IANS) The Covid-19 pandemic has changed how business are conducted globally. The increased use of technology has fast became a norm and more and more people are staying connected while operating remotely from their homes. A Boston Consulting Group (BCG)-Zoom survey report, brings this aspect of change in the way businesses […]

New Delhi, March 25 (IANS) The National Company Law Tribunal (NCLT) has approved the merger of VSAT (very small aperture terminal) satellite operations of Bharti Airtel Ltd with Hughes Communications India Ltd and its subsidiary HCIL Comtel Pvt Ltd. The NCLT’s principal bench, through its order dated March 23, sanctioned the composite scheme of arrangement […]

New Delhi, March 25 (IANS) Hotter years have been routinely linked with reduced economic output in the developing countries, and one reason is that people are less productive at work and are more likely to be absent on hot days, a new research showed on Thursday . The aggregate effects are large enough to significantly […]

New Delhi, March 25 (IANS) Indian Oil Corporation Ltd. (IOCL) had announced its partnership with Dorf Ketal Chemicals India Pvt Ltd, wherein IOCL’s Patented Drag Reducing Agents (DRA) technology will be utilised to manufacture the DRA at Dorf Ketal’s manufacturing unit at Dahej, Gujarat. This agreement also represents a significant move towards Atmanirbhar Bharat as […]

New Delhi, March 25 (IANS) The Lok Sabha was adjourned sine die on Thursday, curtailing the ongoing Budget Session in the wake of Assembly elections in four states and one Union Territory slated to begin from Saturday. The Budget Session was originally scheduled to continue till April 8. The move comes after requests by floor […]

New Delhi, March 25 (IANS) Consumers can heave a sign of relief as oil marketing companies (OMCs) have finally relented and started reducing the retail price of petrol and diesel after keeping them steady for 24 days in March. This is the second reduction in petrol and diesel prices in as many days in 2021. […]

By Subhash NarayanNew Delhi, March 24 (IANS) The government has given freedom to the central sector power producers such as NTPC, NHPC and SJVN to sell power relinquished by state discoms to new buyers under long or short term contracts or place the surplus power on exchanges for discovery of price in the day ahead, […]

New Delhi, March 24 (IANS) The Supreme Court on Wednesday extended the timeline for the resolution of Jaypee Infratech Ltd (JIL) by another 45 days and directed the interim resolution professional to invite fresh bids from NBCC and Suraksha Realty. “The matter regarding approval of the resolution plan stands remitted to the Committee of Creditors […]

Lucknow, March 24 (IANS) The Yogi Adityanath government in Uttar Pradesh has notified new rules for the retail sale and storage of liquor. Under the new rules , a person cannot store liquor in quantities more than the limit prescribed and liquor up to the prescribed limit can only be sold to a person above […]

Mumbai, March 24 (IANS) Futures of brent crude oil rose around 1 per cent on Wednesday after the 4 per cent tumble in its previous trading session. The May contract of Brent crude on the Intercontinental Exchange (ICE) is currently trading at $61.50 per barrel, 1.17 per cent higher than its previous close. The improvement […]

Mumbai, March 24 (IANS) Improved yarn prices because of a sharp rebound in demand in the second half of the current fiscal will help maintain the operating profitability of Indian synthetic (polyester and viscose) yarn companies at 10 per cent this fiscal, despite the pandemic effects. This has been indicated in a study of 75 […]

New Delhi, March 24 (IANS) Union Minister for Consumer Affairs, Food and Public Distribution, Piyush Goyal, said on Tuesday that domestic prices of edible oil have not surged as much as global rates, which have been very high over the last year. In a written reply to a question asked by Lok Sabha MP Lallu […]

New Delhi, March 23 (IANS) Moving ahead with India’s first high-speed rail project, the National High-Speed Rail Corporation Limited (NHSRCL) has opened technical bids for the design and construction of about 18 km of the viaduct between Anand and Sabarmati, including stations at Ahmedabad and Sabarmati. NHSRCL spokesperson Sushma Gaur said that the agency has […]

San Francisco, March 23 (IANS) An investigation by the National Labor Relations Board (NLRB) in the US has found that Amazon allegedly threatened and retaliated against workers protesting the company’s handling of the Covid-19 pandemic. The official NLRB documents, seen by Motherboard, revealed that the e-commerce behemoth “illegally interrogated and threatened Jonathan Bailey, a lead […]

New Delhi, March 22 (IANS) The Delhi Government has lowered the legal drinking age in the city from 25 to 21 under its new excise policy. The proposal was passed in a Delhi Cabinet meeting on Monday. The new excise policy would be implemented in the city soon. Addressing a press conference, Delhi Deputy Chief […]

New Delhi, March 22 (IANS) Banking consumers may face difficulties in getting services from March 27 to April 4 as all banks in the country will largely stay closed or offer curtailed services as the institutions switch to the new financial year. All banks will stay closed for three consecutive days from March 27 (4th […]

Mumbai, March 22 (IANS) In view of the cash balance situation, the Centre has decided to cancel the auction of G-Sec which was scheduled to have been held on March 26. As per the revised issuance calendar for ‘Government of India Dated Securities’, the next auction was scheduled to have been held on March 26. […]

Mumbai, March 22 (IANS) In an exercise to usher in the next phase of growth, budget carrier GoAir has appointed Ben Baldanza as the Vice Chairman of the company’s board. Jeh Wadia has stepped down from his position of Managing Director while continuing as a promoter of the company. “With the goal of taking GoAir […]

Mumbai, March 22 (IANS) Luxury car manufacturer Audi on Monday launched ‘new Audi S5 Sportback’ in India priced from Rs 79.06 lakh (ex-showroom). According to the company, the four-door sports coupe is powered by a 3-litre, twin-turbo TFSI petrol engine delivering 354 hp and 500 Nm of torque. The engine is mated to an eight-speed […]

Mumbai, March 22 (IANS) Piramal Capital & Housing Finance Ltd (PCHFL) on Monday said it has raised Rs 4,050 crore through issuance of long-term, five-year Non-Convertible Debentures (NCDs) in two tranches. The first tranche of the NCD issue amounting to Rs 2,000 crore opened on March 10, 2021 with a pay-in on March 12. The […]

New Delhi, March 22 (IANS) FICCI-IFSCA signed a Memorandum of Understanding (MoU) to establish a framework for collaboration and co-operation for development of Gujarat International Finance Tec-City (GIFT) IFSC as a world class FinTech Hub. This MoU will pave the way for future collaborations and cooperation between IFSCA and FICCI for development of world class […]

Mumbai, March 22 (IANS) Futures of precious metals continued their bearish trend on Monday with gold contracts on the MCX falling below the Rs 45,000 per 10 gram. The surge in US 10-year bond yields weighed on the futures of the yellow metal. The April contract of gold on the MCX is currently trading at […]

New Delhi, March 21 (IANS) Demanding the issuance of a revision plugging all the loopholes in the press note 2 of the FDI policy, the Confederation of All India Traders (CAIT) on Sunday announced that trade associations across the country will undertake an ‘e-mail Satyagraha urging Union Commerce Minister Piyush Goyal to accept the long […]

New Delhi, March 21 (IANS) Despite price hikes, the passenger vehicle and two wheeler segments are experiencing sustainable demand recovery, India Ratings and Research (Ind-Ra) said in a report. Notably, the domestic automobile industry’s sales volumes (excluding CVs) grew 10 per cent YoY in February 2021, recording positive growth for the seventh consecutive month. Segment […]

New Delhi, March 21 (IANS) India’s massive evacuation programme triggered by the Covid-19 pandemic has brought back over 67 million from abroad. In a tweet, Civil Aviation Minister Hardeep Singh Puri said: “It is not just a mission that brought back stranded & distressed citizens from around the world, but Vande Bharat has been a […]

Kochi, March 20 (IANS) A Kerala student’s biotech startup fostered under the Innovation and Entrepreneurship Development Centre (IEDC) scheme of Kerala Startup Mission (KSUM) has bagged an investment of $10 million from the UAE-based TCN International Commerce LLC for his project titled “Algae-Seaweed Technology”, under the brand B-lite Cookies. The biotech startup’s product was showcased […]

New Delhi, March 20 (IANS) Public sector oil marketing companies IndianOil, Hindustan Petroleum and privation bound Bharat Petroleum remained active in the country’s oil market in 2020 even though the pandemic and lockdown severely dented demand for petroleum products. Even with petrol and diesel sales remaining below the pre-Covid levels in the last part of […]

New Delhi, March 20 (IANS) The Bombay High Court has ruled that investigation by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), 2002, can be continued “even if the base offences are closed, compounded or quashed”, Taxscan reported. The accused, promoters of Omkar Realtors and Developers, had sought their release on […]

New Delhi, Mar. March 20 (IANS) Low cost carrier GoAir operated the first night flight from Srinagar to New Delhi, thus becoming the first airline in the history of Indian aviation to achieve this feat. The GoAir flight G8 7007 took off at 7.35 p.m. on Friday. It was an Airbus A320neo aircraft. Going forward, […]

Chennai, March 20 (IANS) Signing up management contracts with several hotels across the country hospitality major Sterling Holiday Resorts Limited will be increasing its room strength to about 3,000 by the end of October this year, said a top company official. Hoteliers are expecting their business to improve with increased Covid-19 vaccination. “By July this […]

New Delhi, March 20 (IANS) Fuel prices in the country have remained steady for three weeks now as softening crude and upcoming assembly elections in a few states have kept Oil companies from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in […]

New Delhi, March 19 (IANS) FICCI President Uday Shankar snubbed the Ficci Ecommerce Committee head after a meet today where all associations were present. In a first, Uday Shankar has said Amazon’s claims at a vital stakeholder-DPIIT meet Friday were false and need to be rescinded. Shankar, in a terse distancing from Amazon’s claims, said […]

Mumbai, March 19 (IANS) The Reserve Bank of India’s budget for FY22 was approved on Friday by its Central Board of Directors. The approval comes before the apex bank shifts its accounting year to April-March period from FY22. “The Board, in its meeting, reviewed the current economic situation, global and domestic challenges and various areas […]

Mumbai, March 19 (IANS) For Indian trade, 2020 was a year dominated by unprecedented challenges, irregular manufacturing and buying patterns, disrupted trade environments and lack of predictability, Maersk report said on Friday. With the Covid-19 pandemic spreading across the world in a staggered manner and in varying proportions, the impact on containerised trade was felt […]

New Delhi, March 19 (IANS) Acknowledging progress in Bharat Petroleum’s divestment process, Fitch Ratings said that multiple steps are still needed. Accordingly, BPCL has made headway on a key pre-condition to its divestment and other key milestones over the last six weeks, including the finalisation of terms to purchase Oman Oil Company’s 36.6 per cent […]

New Delhi, March 19 (IANS) Fuel prices in the country have remained steady for over a fortnight now as softening crude has kept Oilcos from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Friday. Fuel prices have not […]

New Delhi, March 18 (IANS) India Inc on Thursday welcomed the Centre’s automobile Scrappage Policy. Industry players, as well as sector specialists, said the move will enable faster growth for the industry and will be an environment-friendly move. In a statement, the Society of Indian Automobile Manufacturers (SIAM) said: “The benefits to the environment and […]

New Delhi, March 18 (IANS) Keeping in mind the safety of its passengers, the Indian Railways on Thursday said that it carried out third party inspection of identified and critical 815 bridges, road over bridges and foot over bridges on its network. The national transporter has a vast network of 1,50,390 bridges on its tracks […]

New Delhi, March 18 (IANS) Banks might face incremental debt issuance challenges as new norms limiting composition of the Basel III bonds in overall asset under management (AUMs) could affect investment appetite of AMCs, ICRA said on Thursday. Recently, markets regulator SEBI issued a circular revising investment norms for debt mutual funds that invest in […]

New Delhi, March 18 (IANS) Eighteen per cent of India’s urban population is living in cities with renewable energy targets, said the 2021 edition of REN21’s Renewables in Cities Global Status Report on Thursday. For India, the report has particular significance as several “smart cities” have embraced renewables, seeing a significant growth in on-site generation […]

By Rohit VaidNew Delhi, March 18 (IANS) The ongoing vaccination drive in India is reviving McDonald’s business prospects, even as the QSR brand has witnessed healthy growth in Tier II cities. The McDonald’s India – North & East is owned and operated by Connaught Plaza Restaurants (CRPL). In a conversation with IANS, Sanjeev Agrawal, Chairman […]

New Delhi, March 18 (IANS) Fuel prices in the country have remained steady for over a fortnight now as softening crude and upcoming elections in several states later this months has kept Oil companies from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a […]

New Delhi, March 17 (IANS) The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday said its total pension assets under management have crossed the Rs 5.59 lakh crore mark. Subscribers’ contributions under the National Pension System (NPS) and Atal Pension Yojana (APY) have jointly contributed to this landmark figure. “As on 28th February 2021, […]

By Subhash NarayanNew Delhi, March 17 (IANS) Transaction details of individual tax filers with respect of capital gains, dividend income and interest income will soon become a standard of the pre-filled Income Tax return (ITR) form as the government looks to make tax compliance convenient for taxpayers. The Central Board of Direct Taxes (CBDT) has […]

By Rohit VaidNew Delhi, March 17 (IANS) The ongoing vaccination drive in India is reviving McDonald’s business prospects, even as the QSR brand has witnessed healthy growth in Tier II cities. The McDonald’s India – North & East is owned and operated by Connaught Plaza Restaurants (CRPL). In a conversation with IANS, Sanjeev Agrawal, Chairman […]

Secunderabad, March 17 (IANS) The South Central Railway (SCR) zone has commissioned 134 more track kilometres (TKMs) of electrified railway lines in the past couple of days in some important sections of the zone. The new sections where the electrified lines were commissioned are Dharmavaram and Kadiri, 77.89 TKMs, in Guntakal division in Andhra Pradesh […]

New Delhi, March 17 (IANS) Energy Efficiency Services Limited (EESL), a joint venture under the Union Ministry of Power with support from the Global Environment Facility (GEF) and UN Environment Programme (UNEP), had launched a market assessment study for Super-Efficient ACs. A report on District Cooling Potential in India was also launched in collaboration with […]

New Delhi, March 17 (IANS) Energy Efficiency Services Limited (EESL), a joint venture under the Union Ministry of Power with support from the Global Environment Facility (GEF) and UN Environment Programme (UNEP), had launched a market assessment study for Super-Efficient ACs. A report on District Cooling Potential in India was also launched in collaboration with […]

Chennai, March 17 (IANS) The South Indian Hosiery Manufacturer Association has called upon the Centre to ban the export of yarn and fabric and bring yarn under the Essential Commodities Act. Talking to IANS, association President C. Easwaran said: “We demand a total ban on the export of yarn and fabric from our country and […]

New Delhi, March 16 (IANS) Luxury car manufacturer Mercedes-Benz India on Tuesday launched the new E-Class with prices ranging from Rs 63.6 lakh to Rs 80.9 lakh. The company launched the E-Class in three variants ‘E 200’, ‘E 220 d’ and ‘E 350 d’. “We had to advance the launch of the new E-Class owing […]

New Delhi, March 16 (IANS) The NatWest Group India on Tuesday announced a partnership with the Indian School of Development and Management (ISDM) for the development sector, to strengthen capabilities and drive tangible progress of the country’s development ecosystem. In addition to a significant financial commitment, NatWest Group India will be deeply invested with ISDM […]

New Delhi, March 16 (IANS) The quantum of de-growth in Retail sales has reduced as most segments in it have started to show significant improvement. The 13th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates sales in February 2021 were at -7 per cent of last year’s sales on […]

New Delhi, March 16 (IANS) Fuel prices in the country have remained steady for over a fortnight now even though global oil market remains volatile with regular variations in prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital here on Tuesday. Fuel prices […]

New Delhi, March 15 (IANS) Automobile manufacturer Kia Motors India on Monday announced the appointment of Hardeep Singh Brar as the national head of sales and marketing, with immediate effect. According to the company, Brar will be responsible for enhancing Kia’s leadership position in the Indian market and for enabling the next wave of growth. […]

New Delhi, March 15 (IANS) Bank of Baroda, India’s third largest public sector bank, on Monday reduced Baroda Repo Linked Lending Rate (BRLLR) from 6.85 per cent to 6.75 per cent, effective from March 15. The cut is expected to impact all categories of loans offered by the bank. As all retail loans are linked […]

Ahmedabad, March 15 (IANS) Adani Group subsidiary Adani Ports and Special Economic Zones Ltd (APSEZ) has bagged the contract to develop and operate West the Container Terminal (WCT) in Colombo, making it the first Indian port operator in Sri Lanka. The company has received a Letter of Intent from Sri Lanka’s Ministry of Ports and […]

New Delhi, March 15 (IANS) India’s February merchandise exports rose marginally to remain on the growth trajectory, official data showed on Monday. Accordingly, the country’s merchandise exports during the month under review rose to $27.93 billion from $27.45 billion in January and $27.74 billion in February 2020. “Exports in February 2021 were $27.93 billion, as […]

New Delhi, March 15 (IANS) The year 2021 is extremely critical for Kia in India as the automobile manufacturer expects a more conducive business environment fuelled by recovery from the Covid-19 pandemic. In a conversation with IANS, Kia Motors India’s Executive Director and Chief Sales and Business Strategy Officer Tae-Jin Park said that the immediate […]

Mumbai, March 15 (IANS) The Indian ship-breaking industry is sailing towards a 10 per cent revenue growth this fiscal on-year owing to improved availability of condemned vessels and higher rates for steel scrap, Crisil said on Monday. According to a report by the ratings agency, a plunge in global trade due to the Covid-19 pandemic […]

New Delhi, March 15 (IANS) Indias forex reserves have now become the fourth largest in the world at $580.3 billion surpassing Russia. Emerging markets have been building reserves to guard against volatility due to Covid aftershocks. Reserves for India and Russia have plateaued rising for months. India pulled ahead as Russian holdings declined at a […]

New Delhi, March 15 (IANS) Fuel prices in the country have remained steady for over a fortnight now even though global oil market remains volatile with regular variations in prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Monday. Fuel prices have […]

New Delhi, March 14 (IANS) Indian Railways has extended computerisation of Parcel Management System (PMS) from 84 locations to 143 locations in phase-II and 523 locations in phase-III. In a statement, Ministry of Railways said that Railways’ PMS has been undergoing total transformation and is geared to providing transportation for small consignments, over a vast […]

New Delhi, March 14 (IANS) The Ministry of Electronics and Information Technology (MEITY) has invited applications for the second round of production linked incentive (PLI) scheme for large scale electronics manufacturing. A recent office memorandum said the second round of PLI scheme is open for accepting applications and the last date of receiving application is […]

New Delhi, March 14 (IANS) To further enhance regional air connectivity, the Centre on Sunday invited bids for the 4.1 round of the RCS-Udan scheme. Accordingly, the ‘Bid Document’ has been uploaded on the Central Procurement portal of the National Informatics Centre inviting the bids from interested airlines. The process is expected to be completed […]

New Delhi, March 14 (IANS) Telecom industry’s revenues continued to grow for the fifth quarter in a row during Q3FY21 to Rs 443 billion, India Ratings and Research (Ind-Ra) said in a report. Accordingly, this trend was supported by the industry-wide tariff hikes implemented in the last 12-18 months, increasing penetration of high ARPU (average […]

New Delhi, March 13 (IANS) Indian Oil Corporation Limited (IndianOil) has leveraged its expertise and reach to bolster India’s Covid-19 vaccination programme by supplementing the available cold chain equipment (CCE) infrastructure in four states — Jammu & Kashmir, Tamil Nadu, Bihar and Manipur — for the storage and transportation of vaccines. IndianOil is procuring CCE […]

New Delhi, March 12 (IANS) The Indian Railways on Friday said that its total freight loading for financial year 2020-21 had surpassed that of the previous fiscal. Addressing a press conference here, Railway Board Chairman and CEO Suneet Sharma said it is a huge achievement given the coronavirus pandemic had disrupted rail movement. “In 2020-21, […]

New Delhi, March 12 (IANS) State-owned mining major NMDC decided to reward its shareholders by paying big dividend. The company’s board has decided to give interim dividend at the rate of 776 per cent for the year 2020-21 at its meeting held on March 11. The interim dividend outgo would be Rs 2,274 crore, of […]

New Delhi, March 12 (IANS) With an aim to extend the benefits of One Nation, One Ration Card scheme (ONORC), Department of Food and Public Distribution Secretary Sudhanshu Pandey launched ‘Mera Ration’ mobile app. As of now, the app is in Hindi and English but soon it will be available in 14 Indian languages. While […]

New Delhi, March 12 (IANS) The Enforcement Directorate has recently asked Amazon.com Inc for information related to its operations in India, a global newswire reported on Friday. A senior agency source told the newswire that the ED continues to investigate the US e-commerce giant. Last month, the source at the financial probe agency had said […]

Chandigarh, March 12 (IANS) Vietnam Ambassador to India, Pham Sanh Chau, on Friday sought increased cooperation with industries and the travel community based in Chandigarh, Punjab, Haryana and Himachal Pradesh. Both Punjab and Haryana have emerged as significant markets sharing economic and touristic potential with Vietnam, he told the media here. “Punjab is a key […]

Mumbai, March 12 (IANS) Payment risk from discoms has resurfaced for wind power projects, with four key states — Madhya Pradesh, Maharashtra, Rajasthan and Andhra Pradesh — that act as a counterparty to around 40 per cent of the overall wind capacity totalling up dues of Rs 5,450 crore to 156 renewable projects as of […]

New Delhi, March 12 (IANS) The BRICS Contact Group on Economic and Trade Issues (CGETI) held its first meeting under India’s Chairship from March 9-11, wherein India outlined the priority areas to be delivered on which also included non-tariff measures and resolution mechanism among the countries of the group. The theme of BRICS this year […]

New Delhi, March 12 (IANS) The Supreme Court has said that the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) cannot interfere with the “commercial wisdom” of the Committee of Creditors (CoC), except within the limited scope under Sections 30 and 31 of the Insolvency and Bankruptcy Code(IBC), Live Law […]

Mumbai, March 12 (IANS) The Indian rupee appreciated around 25 paise on Friday morning. The strengthening of the rupee can be attributed to the rising foreign portfolio investments (FPI) and falling bond yields in the US, post President Joe Biden signed the $1.9 trillion stimulus, analysts said. Currently, rupee is trading at 72.66 per dollar, […]