Lucknow, Jan 19 (IANS) The Yogi Adityanath-led government in Uttar Pradesh has emerged as the fifth largest exporter of goods during the Covid-19 pandemic. Goods like rice, medicines, carpets, silk, fertilisers, sugar, toys and fish from the state have been exported abroad. The state government made efforts under its ‘ease of doing business’ policy to […]

New Delhi, Jan 19 (IANS) Adani Enterprises on Tuesday said that it has signed the concession agreement with the Airports Authority of India (AAI) for operating and developing the Jaipur, Guwahati and Thiruvananthapuram airports. In a regulatory filing, the company said that the concession period is 50 years from the commercial operation date. “Adani Jaipur […]

New Delhi, Jan. Jan 18 (IANS) The real estate sector may be in for further bonanza with the government looking to extend tax free status of income accruing from unsold residential units by another year. Sources said that a proposal is being examined by the Centre to defer the implementation of provisions relating to the […]

New Delhi, Jan 18 (IANS) Some recent soap advertisements caught the eye and raised a few questions. Is there a perfect pH product for human skin? What characteristics define a good soap? Let’s start at the beginning. pH (Potential Hydrogen) is defined as the concentration of hydrogen ions in a solution. PH value ranges between […]

New Delhi, Jan. Jan 18 (IANS) The good old traditional snack food ‘papad’ or ‘pappadam’, as it is known in south India, cannot be equated with packaged ‘un-fried fryums and cannot have similar tax treatment, the Authority for Advance Rulings (AAR) has ruled. In its order rejecting a petition seeking to bring irregular sized packaged […]

New Delhi, Jan 18 (IANS) Petrol and diesel prices rose again by 25 paisa per litre each on Monday after oil marketing companies decided to break their three days pause on price revision in wake enlarging under recovery on sale of the two petroleum products. The increase in pump price of petrol and diesel came […]

Mumbai, Jan 17 (IANS) Dewan Housing Finance Corporation Ltd (DHFL) on Sunday said that its Committee of Creditors (CoC) has approved the resolution plan of Piramal Capital and Housing Finance Ltd. “The resolution plan submitted by Piramal Capital and Housing Finance Ltd (under Option I in terms of the RFRP dated September 16, 2020) was […]

New Delhi, Jan 17 (IANS) Investment into real estate through fractional ownership has gained a momentum in the country amid the pandemic, according to ‘hBits’, a fractional real estate ownership platform. Shiv Parekh, Founder of hBits is of the view that investment through fractional ownership is still at a nascent stage. Overall investment in India […]

New Delhi, Jan 15 (IANS) The Indian Railways on Friday allowed e-catering services to resume at selected railway stations. In a statement, the Railway Mnistry said that it will be subject to compliance of all the guidlines on health and safety matters issued by Central and state governments and other authorised agencies under them. The […]

New Delhi, Jan 15 (IANS) Tamil Nadu has become the 11th state in the country to successfully undertake “One Nation One Ration Card system” reform stipulated by the Finance Ministry, and has become eligible to mobilise additional financial resources of Rs 4,813 crore through Open Market Borrowings. Permission for the same was issued by the […]

Hyderabad, Jan 15 (IANS) Air India’s first non-stop flight on the Hyderabad-Chicago route arrived from the US city at the Rajiv Gandhi International Airport here on Friday. A few hours later, the first flight from the city to Chicago departed. Flight AI-108 landed at 01.00 hours with 237 passengers and 16 crew. The same aircraft […]

Washington/Bengaluru, Jan 14 (IANS) Biocon Chairperson Kiran Mazumdar-Shaw is the new vice-chair of the US-India Business Council (USIBC) board for 2021, the apex trade body said on Thursday. “Kiran Mazumdar-Shaw will be one of the three vice-chairs for the US-India Business Council’s board of directors,” said USIBC Chairman Vijay Advani in a statement from Washington […]

Chandigarh, Jan 14 (IANS) Haryana Chief Minister Manohar Lal Khattar on Thursday launched an air taxi service between Chandigarh and Hisar from the Chandigarh International Airport under UDAN scheme of the central government. On this occasion, Khattar handed over a boarding pass to the first passenger. He also visited the airstrip where he was apprised […]

New Delhi, Jan 12 (IANS) Taking another step towards e-governance and encouraging the participation of citizens as stakeholders in curbing tax evasion, the Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website of the department to receive and process complaints of tax evasion, foreign undisclosed assets as well […]

New Delhi, Jan 12 (IANS) A probe by the Competition Commission of India’s (CCI) investigation arm has found that Maruti Suzuki restricted its dealers from passing on extra discounts to the customers, sources said. The investigation wing of the anti-trust body submitted its report on the probe on Tuesday. According to sources, the report mentions […]

New Delhi, Jan 12 (IANS) Midcap stocks outperformed large cap stocks in 12 out of last 20 years, including in 2020. A comparison of the large caps meaning Nifty 50 and midcaps meaning Nifty 100 Midcap Index shows that in the year 2020, midcaps outperformed large caps by 7 per cent. While large caps gave […]

New Delhi, Jan 12 (IANS) There were around 5.02 lakh housing units stuck at various stages of construction across the top seven cities by the end of 2020, showed a report by Anarock Property Consultants. The report noted that a total of 1,132 projects were stuck by the end of the year, compared to 1,322 […]

Bengaluru, Jan 12 (IANS) Railway Minister Piyush Goyal on Monday reviewed the status of the Bengaluru suburban service project in a virtual meeting from New Delhi, an official said. “Reviewing the project status, Goyal said the suburban rail service should be built keeping in view the growing needs of Bengaluru and should be based on […]

New Delhi, Jan. Jan 11 (IANS) After successfully completing the country’s first-ever auction of commercial coal mines last year, the government is set to begin the process with new mines later this month. Union coal and mines minister Pralhad Joshi announced on Monday that the next tranche of commercial mines auction would be launched as […]

New Delhi, Jan 11 (IANS) Telecom major Bharti Airtel on Monday announced its partnership with National Small Industries Corporation (NSIC) to accelerate the digital transformation of Micro, Small and Medium Enterprises (MSMEs) in India. NSIC is a Government of India Enterprise having its mission “to promote and support MSME sector by providing integrated support services […]

New Delhi, Jan 11 (IANS) Power transmission player Sterlite Power on Monday announced that it has raised Rs 200 crore in debt financing from Allianz Global Investors (Allianz GI) — one of the world’s leading investment managers with a focus on sustainable investments. This transaction is one of the first infrastructure sector financing deals for […]

New Delhi, Jan 11 (IANS) Domestic institutional investors (DIIs) recorded their first outflows in 2020 after five years of inflows. This is at odds with bulge bracket FIIs powering the indices to fresh highs virtually daily, as on Monday the BSE Sensex powered to a new peak crossing 49,000. According to a report by Motilal […]

New Delhi, Jan 11 (IANS) Under stiff Competitive Bidding, state-owned Bharat Heavy Electricals Limited (BHEL) has secured order for a steam and power plant from National Aluminium Corporation Limited (NALCO). Valued at around Rs 450 crore, the order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, […]

New Delhi, Jan 11 (IANS) Reliance Capital (RCAP) debenture holders at their meeting held on January 5, passed the resolution with overwhelming majority for monetisation of its assets. This comes on the back of shareholders having already approved RCAP monetisation. Reliance Capital had commenced its asset monetisation process – to unlock value of its underlying […]

New Delhi, Jan 11 (IANS) Retail fuel prices across the four metro cities remained unchanged for the fourth consecutive day on Monday. Accordingly, in the national capital, petrol was sold at the record high of Rs 84.20 per litre, reached on Thursday (January 7). In Mumbai, Chennai and Kolkata, the fuel was priced at Rs […]

New Delhi, Jan 10 (IANS) The Ministry of Corporate Affairs has proposed a pre-packaged insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC). The ministry has sought comments on the recommendations of sub-committee of the Insolvency Law Committee by January 22. Government constituted the sub-committee in June last year to prepare a detailed scheme […]

New Delhi, Jan 10 (IANS) Telecom major Bharti Airtel on Sunday announced the appointment of Pradipt Kapoor as its Chief Information Officer (CIO). In his new role, Kapoor will drive Airtel’s overall engineering strategy and be a key player in helping realise the company’s digital vision, Bharti Airtel said in a statement. He will be […]

New Delhi, Jan 10 (IANS) Retail fuel prices across the four metro cities remained unchanged for the third consecutive day. In the national capital, petrol was sold at the record high of Rs 84.20 per litre, reached on Thursday (January 7). In Mumbai, Chennai and Kolkata, the fuel was priced at Rs 90.83, Rs 86.96 […]

Mumbai, Jan 9 (IANS) The rollout of Covid-19 vaccines coupled with a gradual revival in demand has enabled crude oil prices to surge above $50 per barrel level in December 2020 for the first time in FY21, India Ratings and Research (Ind-Ra) said in a report. Besides, the report said the 1 million barrel per […]

New Delhi, Jan 9 (IANS) Department of Revenue (DoR) has clarified that any purchase of gold, silver, jewellery or precious gems and stones below Rs 2 lakh does not require PAN or Aadhaar of a customer as a mandatory KYC document. Sources said that the notification issued under (Prevention of Money Laundering) PML Act, 2002, […]

New Delhi, Jan. Jan 9 (IANS) Oil marketing companies decided to keep fuel prices unchanged on Saturday even though oil prices in global markets remained firm with benchmark Brent crude within a whisker of $56 a barrel mark. Accordingly, petrol prices in Delhi remained unchanged at Rs 84.20 a litre, while diesel prices maintained its […]

Mumbai, Jan 8 (IANS) India’s foreign exchange reserves rose by $4.483 billion during the week ended January 1. According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $585.324 billion from $580.841 billion reported for the week ended December 25. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

New Delhi, Jan 8 (IANS) The Directorate General of GST Intelligence’s (DGGI) Gurugram Zonal Unit (GZU) on Friday arrested a Delhi businessman on charges of illegally availing and passing on input tax credit (ITC) on goods-less invoices. On the basis of the investigation conducted, it was found that that Sanjay Goel, through his entity ‘Redamancy […]

New Delhi, Jan 8 (IANS) Continuing with its pandemic relief initiatives, the government may extend income tax deduction benefits for Covid-19 treatment to individuals not covered under any health insurance. Sources said that several pre-budget proposals for providing tax relief for Covid-19 treatment have come to the Revenue Department and these are being actively examined. […]

Mumbai, Jan 8 (IANS) As the Indian equity indices continue to hit new highs, Nifty50 has witnessed its fastest rally since the financial year 2009-10. The Nifty50 on the National Stock Exchange (NSE) has gained 86 per cent in the current financial year, showed a report by ICICI Securities. On Friday, it hit a fresh […]

Mumbai, Jan 8 (IANS) Automobile major Mahindra & Mahindra on Friday raised the prices of its range of personal and commercial vehicles by around 1.9 per cent resulting in an increase of Rs 4,500 – Rs 40,000, depending on the model and variant. Accordingly, the new prices will become effective from the day. The company […]

Washington, Jan 8 (IANS) The US Justice Department announced on Thursday that Boeing has agreed to pay more than $2.5 billion to resolve a criminal charge related to a conspiracy to defraud regulators over the 737 MAX crashes. “The tragic crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302 exposed fraudulent and deceptive […]

New Delhi, Jan 7 (IANS) Oil prices continued to surge on Thursday with the Brent nearing the $55 per barrel mark on the back of Saudi Arabia’s surprise decision to reduce production over the next two months, along with the fall in crude stockpiles in the US. Further, the violence in Washington as supporters of […]

Mumbai, Jan 7 (IANS) IL&FS Solar Power Limited (ISPL), an IL&FS Group company, has paid its entire debt amounting to nearly Rs 845 crore across all its creditors, including financial and operational debt, tax and statutory dues, without any preference to any creditor or class of creditors. ISPL had undertaken construction and financing of a […]

New Delhi, Jan 6 (IANS) India’s services sector output growth further eased in December, but remained on on the recovery path. The IHS Markit India Services PMI data showed that both output and new business rose for the third straight month in December but at a slower pace than previous months. The data report cited […]

Hyderabad, Jan 6 (IANS) Telangana’s tower density is 0.71 per thousand population against the national average of 0.42 per cent, Chief Secretary Somesh Kumar said on Wednesday while presiding over the second meeting of the State Broadband Committee. The National Broadband mission has set the tower density target of 1.7 by 2024. Kumar informed that […]

Bengaluru, Jan 6 (IANS) Dell Technologies on Wednesday expanded its product line with the launch of new PCs, monitors along with Dell Optimizer software. The company has unveiled Latitude 9420, Latitude 7520, Latitude 5420 at $1,949, $1,649, $1,049 respectively. “Our new intelligent PCs make it possible for us to work smarter and collaborate easier, so […]

New Delhi, Jan 6 (IANS) The new year has broken the patience of oil marketing companies as they increased the pump price of petrol and diesel breaking over a month long pause. Accordingly, the retail price of petrol and diesel increased by 26 paise and 25 paise per litre to Rs 83.97 and Rs 74.12 […]

San Francisco, Jan 6 (IANS) Chip maker Qualcomm on Tuesday announced that Cristiano Amon will succeed Steve Mollenkopf as CEO, effective from June 30. Mollenkopf informed the Board of his decision to retire as CEO following 26 years with the company. Amon, who has worked at Qualcomm since 1995, is currently President of the Company. […]

New Delhi, Jan 5 (IANS) As digital technologies make business processes automated and establish new productivity benchmarks, micro, small and medium enterprises (MSME) should adopt the new technologies and solutions which would help them reach the next level of growth, a senior official said. At a recent session of the MSME Business Forum, Ramanan Ramanathan, […]

New Delhi, Jan 5 (IANS) Nithia Capital, a global distressed alternative asset manager and CarVal Investors, a global alternative investment manager focused on distressed and credit-intensive assets, announced that they have completed the acquisition of Uttam Galva Metallics Limited (UGML) and Uttam Value Steel Limited (UVSL) (together Uttam) through their Singapore-based Joint Venture Holding Company, […]

New Delhi, Jan 5 (IANS) India has been witnessing a ‘V-shaped’ recovery since June with the gradual easing of restrictions on economic activities, said a Finance Ministry report. “The sustained improvement in high frequency indicators ignite optimism of an improved performance in second half of the year,” it said. The Monthly Economic Recovery for December […]

New Delhi, Jan 5 (IANS) The business sentiment and demand momentum in India has improved tremendously since September 2020, according to PHD Chamber of Commerce and Industry’s Economy GPS Index. A report by the industry body said that as a result of recovering investor sentiment, the ‘PHDCCI Economy GPS Index’ stood at record 124.1 in […]

Agra, Jan 5 (IANS) The Taj city with three world heritage monuments, could soon be air connected with major Indian cities. The Kheria airport officials confirmed some airlines had sought permission to begin flights. Tourism circles in the Taj city welcomed fresh initiatives to air connect Agra with Goa, Mumbai, Lucknow, Bhopal. Air India is […]

New Delhi, Jan 5 (IANS) Adani Wilmar has stalled advertisements of its Fortune Rice Bran cooking oil which feature former Indian cricket team’s captain and current BCCI President Sourav Ganguly, who recently suffered a heart attack. The development comes after social media users criticised and trolled the advertisement campaign which promoted the brand as one […]

New Delhi, Jan 4 (IANS) Two-wheeler major Honda Motorcycle & Scooter India on Monday reported a rise of 3 per cent in its December sales on a year-on-year basis. Honda’s total sales in December closed at 263,027 units from 255,283 units sold during the corresponding period of the previous year. The company said demand recovery […]

New Delhi, Jan 4 (IANS) Automobile manufacturer Hyundai Motor India has commenced exports of its recently launched premium hatchback, the ‘all-new i20’. According to the company, the milestone marks the beginning of the “next decade and HMIL’s resilient commitment to ‘Atmanirbhar Bharat’”. Presently, HMIL is India’s largest exporter of automobiles. It has surpassed the three […]

New Delhi, Jan 4 (IANS) Air India pilots have asked the management to immediately replace the airline’s Commercial Director Meenakshi Malik who is heading a consortium bidding for the national carrier. In a letter to Rajiv Bansal, Air India, Chairman and Managing Director, the pilots’ associations said Malik should be replaced along with any other […]

Mumbai, Jan 4 (IANS) Shares of public sector undertaking BEML surged nearly 8 per cent on Monday after the government announced to sell 26 per cent stake in the company and invited expressions of interest (EoI) for the same. Its shares opened 7.7 per cent higher to touch an intraday high of Rs 1,050 points. […]

New Delhi, Jan 3 (IANS) The Delhi Development Authority (DDA) has launched a new housing scheme that offers 1,354 flats ranging from the Economically Weaker Section (EWS)/Janata to High Income Group (HIG) categories in areas like Dwarka, Vasant Kunj, Rohini, Jasola and Manglapuri. Applicants can apply online till February 16 through the DDA website. Of […]

New Delhi, Jan 3 (IANS) The PHD Chamber of Commerce and Industry has lauded state-run BSNL’s move to test India-made telecom equipment before allowing indigenous manufacturers participate in the 4G tender to be floated by the company. Terming the move as the right direction in fulfilling the vision of self-reliant India, PHD said that it […]

Mumbai, Jan 3 (IANS) As foreign portfolio investments (FPI) surged amid the pandemic, December 2020 recorded the highest-ever monthly inflow of FPIs at Rs 62,016 crore. FPI inflows into Indian equities surpassed the previous high of Rs 60,358 crore recorded in November 2020. This was the third consecutive month of net inflows. The year 2020 […]

New Delhi, Jan 3 (IANS) Oil marketing companies kept petrol and diesel prices unchanged for the 27th consecutive day on Sunday across the four metro cities. In the national capital, petrol was sold for Rs 83.71 per litre. In Mumbai, Chennai and Kolkata, the fuel was priced at Rs 90.34, Rs 86.51 and Rs 85.19 […]

New Delhi, Jan 2 (IANS) Lockdown measures in some of the key export markets subdued India’s merchandise exports in December 2020 by 0.80 per cent to $26.89 billion from $27.11 billion in December 2019, preliminary data showed on Saturday. “India’s merchandise exports in December 2020 totalled $26.89 billion, compared with $27.11 billion in December 2019, […]

New Delhi, Jan 2 (IANS) Telecom major Bharti Airtel has said that Reliance Jio’s allegations claiming sabotage of the latter’s tower infrastructure by its rivals are baseless and outrageous. In a letter to the Anshu Prakash, Secretary of Department of Telecommunications, Airtel also condemned the disruption of telecom networks and the instances of vandalism. “We […]

New Delhi, Jan 2 (IANS) Lockdown measures in some of the key export markets subdued India’s merchandise exports in December 2020 by 0.80 per cent to $26.89 billion from $27.11 billion in December 2019, preliminary data showed on Saturday. “India’s merchandise exports in December 2020 totalled $26.89 billion, compared with $27.11 billion in December 2019, […]

Mumbai, Jan 2 (IANS) Franklin Templeton’s six shut schemes have received Rs 13,120 crore from maturities, pre-payments, and coupons since their closure in April. Over the latest fortnight, December 16-31, 2020, these schemes received Rs 1,213 crore. Further, five out of the six schemes have already turned and have close to Rs 8,527 crore available […]

New Delhi, Jan 2 (IANS) Lockdown measures in some of the key export markets subdued India’s merchandise exports in December 2020, preliminary data showed on Saturday. Accordingly, the country’s merchandise exports during the month under review receded by 0.80 per cent to $26.89 billion from $27.11 billion in December 2019. “India’s merchandise exports in December […]

New Delhi, Jan 1 (IANS) Pent-up demand, along with attractive year-end discounts accelerated the year-on-year sales of major automobile players’ during December. Besides, analysts cited factors such as low interest rates, preference for personal mobility over public transport due to the pandemic as other key reasons for the upswing. Amongst the major players, Maruti Suzuki […]

New Delhi, Jan 1 (IANS) Delhi’s peak power demand hit the season’s highest level at 5,021 MW on Friday, owing to the ongoing cold wave conditions, power distribution company (discom) BSES said. It is the first time this winter that the national capital’s peak power demand has crossed the 5,000 MW mark, a company statement […]

New Delhi, Jan 1 (IANS) Mahindra & Mahindra (M&M) on Friday reported 10 per cent fall in its overall auto sales in December 2020 at 35,187 units. During the same period of 2019, the company had sold 39,230 units. However, in the utility vehicles segment, Mahindra sold 16,050 vehicles in December 2020, compared to 15,225 […]

New Delhi, Jan 1 (IANS) The rise in crude oil cost on hopes of accelerated global demand has not impacted India’s retail fuel prices which have largely been static for around a month now. On Friday, both petrol and diesel prices remained unchanged across the four metropolitan cities. The OMCs have gone on a pause […]

New Delhi, Jan 1 (IANS) Bajaj Auto’s market capitalisation crossed Rs 1 lakh crore on Friday. The share price of Bajaj Auto closed at Rs 3,479 per share on the NSE, making its market capitalisation Rs 100,670.76 crore at this price. “This market cap is considerably higher than all other domestic two-wheeler companies. As per […]

New Delhi, Jan 1 (IANS) Indian Auto LPG Coalition has called for policy measures by the government to encourage and boost the adoption of auto LPG and CNG as alternative fuel for transportation. In a statement, the industry body said that the country’s auto LPG sector is upbeat about its prospects as rising diesel prices, […]

Bhubaneswar, Jan 1 (IANS) Petroleum Minister Dharmendra Pradhan on Friday launched a unique missed call facility for booking LPG refills and registration of new connections. Facility for booking LPG refill by giving a missed call on 8454955555 has been rolled out pan-India and for registering a new LPG connection has been rolled out in Bhubaneswar, […]

New Delhi, Jan 1 (IANS) Hyundai Motor India on Friday reported overall sales including exports grew by 33.14 per cent during December despite the Covid-19 pandemic. The company’s overall sales grew to 66,750 units from 50,135 units sold during December 2019. Similarly, the company’s domestic sales rose during the month under review. It edged higher […]

Mumbai, Jan 1 (IANS) India’s foreign exchange reserves slipped by $290 million during the week ended December 25. According to the Reserve Bank of India’s weekly statistical supplement, the reserves declined to $580.841 billion from $581.131 billion reported for the week ended December 18. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

Abu Dhabi, Jan 1 (IANS) As airlines around the world gear up for the New Year with exciting offers and plans, the UAE’s national airline, Etihad Airways, is offering travellers complimentary Covid-19 PCR tests. Covid-19 PCR testing is mandatory before every flight and depending on where you are flying to, your test must be carried […]

New Delhi, Jan 1 (IANS) The International Financial Services Centres Authority (IFSCA) has become an associate member of the International Organization of Securities Commissions (IOSCO). IOSCO is the international organisation that brings together the world’s securities regulators, covering more than 95 per cent of the world’s securities markets, and it also sets the global standard […]

New Delhi, Jan 1 (IANS) Suneet Sharma on Friday took over the charge as new Railway Board Chairman and Chief Executive Officer (CEO) of the Indian Railways and ex-officio Principal Secretary to the government, officials said. The Appointments Committee of the Cabinet had approved the appointment of Sharma as Chairman and CEO of the Railway […]

New Delhi, Jan 1 (IANS) Petrol and diesel remained unchanged on Friday across the four metropolitan cities. Retail fuel prices were unchanged for the 25th consecutive day after they were last revised on December 7. In the national capital, petrol price was at Rs 83.71 per litre. In Mumbai, Chennai and Kolkata, the fuel was […]

New Delhi, Jan 1 (IANS) Automobile major Maruti Suzuki on Friday reported a growth of 20.2 per cent in its overall sales during December 2020 on a year-on-year basis. The company sold 1,60,226 units of vehicles last month, against 1,33,296 units sold in December 2019. On a sequential basis, the company sold 1,53,223 units of […]

Bengaluru, Dec 31 (IANS) The Bengaluru International Airport installed the category-3B (CAT-3B) instrument landing system (ILS) on its new runway to improve visibility for aircraft landing and take-off in inclement weather and foggy conditions, said its operator on Thursday, “The new runway has been upgraded with CAT-3B ILS to enable any aircraft landing at 50-metre […]

New Delhi, Dec 31 (IANS) Airline major IndiGo on Thursday said some of its servers were hacked earlier this month. According to the airline, some internal documents of the company might get uploaded by the hackers on public websites and platforms. “We would like to make this disclosure that some of our servers were subject […]

New Delhi, Dec 31 (IANS) India’s budgetary fiscal deficit for the April-November 2020-21 period stood at Rs 10.75 lakh crore, or 135.1 per cent of the budget estimates (BE). The 2020-21 deficit — the difference between revenue and expenditure — had been pegged at Rs 7.96 lakh crore, as compared to the revised deficit of […]

New Delhi, Dec 31 (IANS) The Directorate General of GST Intelligence (DGGI), North Zone, Gurugram has arrested three persons — Alok Bhargava and his sons Akul and Atin Bhargava, owners of Delhi Foils, Abinox Industries and Matalax Industries, Wazirpur, New Delhi, for fraud. A Finance Ministry statement said that the firms had fraudulently taken cumulative […]

New Delhi, Dec 31 (IANS) Railway Minister Piyush Goyal on Thursday launched a complete revamped new IRCTC website, along with the rail connect app. In his remarks on the occasion, Goyal said: “The Railways is committed to serving the nation, and constantly working to augment its services to further improve the rail travel experience.” “This […]

New Delhi, Dec 30 (IANS) Kapil Wadhawan has yet again come up with a revised proposal for acquiring Dewan Housing Finance Corporation Ltd (DHFL). In a letter to RBI Governor Shaktikanta Das, DHFL administrator R. Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an […]

Mumbai, Dec 30 (IANS) India’s current account surplus moderated to $15.5 billion in Q2FY21 from $19.2 billion reported for the first quarter of the current fiscal. On a YoY basis, the country’s Balance of Payment status was in a deficit of $7.6 billion during Q2FY20. “The narrowing of the current account surplus in Q2 of […]

Mumbai, Dec 30 (IANS) India’s current account surplus moderated to $15.5 billion in Q2FY21 from $19.2 billion reported for the first quarter of the current fiscal. On a YoY basis, the country’s Balance of Payment status was in a deficit of $7.6 billion during Q2FY20. “The narrowing of the current account surplus in Q2 of […]

New Delhi, Dec 30 (IANS) Travel and hospitality demand has improved in India after the unlocking of economic activities was announced, an OYO report released on Wednesday said. The ‘OYO Travelopedia 2020’ said that India topped the chart for the hospitality chain as the most booked country, with Delhi clocking the most bookings across the […]

New Delhi, Dec 30 (IANS) Reliance Industries Limited (RIL) and BP Exploration Alpha Limited (BPEAL) have invited bids through an online platform companies for the gas produced from the KG D6 basin in Kakinanda. In a public notice, RIL and BP while inviting bids said they expect to sell the gas from February 1, 2021. […]

By Hamza AmeerIslamabad, Dec 30 (IANS) After reports emerged about Pakistans ally and all-weather friend China, asking Islamabad to provide guarantees if it intends to avail the $6 billion package; Beijing has rejected “what it called rumors” of gradually ending financial support to Pakistan, pledged under the China Pakistan Economic Corridor (CPEC). Chinese Foreign Miniter’s […]

New Delhi, Dec 29 (IANS) Real estate developer Emaar Properties has filed a complaint with the National Company Law Tribunal (NCLT) against MGF, its Chairman Shravan Gupta, among others, over an alleged fraud. Emaar Properties alleged fraud by Gupta and his associates while he was the MD and CEO of their erstwhile joint venture, Emaar […]

By Anand SinghNew Delhi, Dec 29 (IANS) December 2020 added another feather to the cap of the Integral Coach Factory (ICF) as its new design vistadome tourist coach successfully completed the 180 kmph trial run. The announcement was made by Union Railway Minister Piyush Goyal. Taking to Twitter, Goyal said: “Ending the Year on a […]

New Delhi, Dec 29 (IANS) Civil Aviation Minister Hardeep Singh Puri on Tuesday said a slight extension of the temporary suspension of UK flights beyond December 31 can be expected. According to the Minister, over 60 flights per week were being operated between UK and India prior to the suspension. “I foresee a slight extension […]

New Delhi, Dec 29 (IANS) Hindustan Oil Exploration Company (HOEC)s attempt to contest implementation of the Resolution Plan completed in September was struck down for the third time by NCLTs Allahabad Bench on December 21. This a series of repeated appeals made by HOEC since 2018 which have been repeatedly dismissed by the NCLAT. HOEC […]

New Delhi, Dec 29 (IANS) Oil marketing companies (OMC) continued to hold the pause button on the petrol and diesel prices on Tuesday. Fuel prices were unchanged across the four metros. In the national capital, petrol was sold for Rs 83.71 per litre. Similarly, in Mumbai, Chennai and Kolkata, petrol prices were unchanged at Rs […]

New Delhi, Dec 29 (IANS) Prime Minister Narendra Modi on Tuesday inaugurated the 351 km long ‘New Bhaupur-New Khurja section’ of the Eastern Dedicated Freight Corridor (EDFC) and Operation Control Centre (OCC) at Prayagraj. Speaking on the occasion, Modi said, “After Independence we are witnessing the inauguration of the most advanced rail section in the […]

Mumbai, Dec 29 (IANS) Shares of Fineotex Chemical have surged over the past two days after Nippon India Mutual Fund picked up nearly six per cent stake through the open market. On Tuesday, its shares on the BSE hit a 52-week high of Rs 62.15 per share. Around 11.10 a.m., shares of Fineotex Chemical were […]

New Delhi, Dec 29 (IANS) Brand Welcomhotel is taking a giant leap, soon touching 26 hotels. A huge addition of nine new Welcomhotel properties in the next 12 months; almost one new hotel every month makes this brand one of the fastest growing brands in the country with an extensive location spread in every region […]

New Delhi, Dec 28 (IANS) India’s homegrown digital financial services platform Paytm announced on Monday that its Payout service which enables businesses to make multiple instant money transfers to their employees, vendors and partners today announced that corporate gifting of Paytm Gift Wallet Cards and 24-Karat Digital Gold has crossed Rs. 100 crore in yearly […]

Chennai, Dec 28 (IANS) Instant coffee company SLN Coffee on Monday launched four variants of flavoured coffee-Vanilla, Caramel, Hazelnut and Choco-Orange targeting the Gen-Z and the Millennials. The company also launched another variant of instant coffee with mix of 70 per cent coffee and 30 per cent chicory called ‘Levista Supreme’. The flavoured coffee would […]

New Delhi, Dec 28 (IANS) National capital’s Indira Gandhi International (IGI) Airport on Monday introduced a new passenger tracking system intended to reduce waiting time, enhance operational efficiency and manage passenger flow to ensure social distancing at Terminal-3. According to Delhi International Airport Limited (DIAL), to repose faith in flying among passengers, it has introduced […]

New Delhi, Dec 28 (IANS) Futures of gold and silver surged on Monday tracking rise in the international markets after US President Donald Trump signed a much-awaited coronavirus relief and stimulus package into law. The February contract of gold on the MCX is currently trading at Rs 50,318 per 10 gram, higher by Rs 245 […]

Mumbai, Dec 28 (IANS) Covid-hit retailers are looking at the upcoming year 2021 with cautious optimism, shows a survey by the Retailers Association of India (RAI). The Retail Business Survey indicated a steady month-on-month recovery for retail businesses across India, with sales in November 2020 being 13 per cent short of the sales during the […]

Mumbai, Dec 27 (IANS) UltraTech Cement is considering to raise Rs 1,000 crore by issuing non-convertible debentures (NCDs) on private placement basis on or after December 30. The Board of Directors of the company in May this year had approved the raising of funds, by way of issuance of NCDs, foreign currency loan or rupee […]

New Delhi, Dec 27 (IANS) The Income Tax Department has said that over 4.2 crore income tax returns (ITR) have been filed so far for the assessment year (AY) 2020-21. A tweet by the IT Department said that as of December 26, more than 4.15 crore ITRs were filed, compared to over 4.14 crore as […]

New Delhi, Dec 27 (IANS) The All India Rubber Industries Association (AIRIA) has called for rationalisation of duties on rubber goods and raw materials and said that the inverted duty structure impacts the local industry. It also said that the government should consider providing adequate support and handholding to the producers and should device ‘Phased […]

New Delhi, Dec 27 (IANS) The All India Rubber Industries Association (AIRIA) has called for rationalisation of tax structure and said that the inverted duty structure impacts the local industry. It also said that the government should consider providing adequate support and handholding to the producers and should device ‘Phased Manufacturing Programme’ for enhancing the […]

New Delhi, Dec 27 (IANS) The Finance Industry Development Council (FIDC), an industry body of asset and loan financing NBFCs has written to the Reserve Bank of India (RBI) seeking implementation of the proposed guidelines for dividend distribution by NBFCs with effect from April 1, 2021. As per the draft circular released by the RBI, […]

New Delhi, Dec 27 (IANS) As many as 442 infrastructure projects have reported a cost overrun of more than Rs 4.34 lakh crore as of December 1, according to the data from the Ministry of Statistics and Programme Implementation. A report by the Ministry showed that 536 Central sector projects are delayed from their original […]

Mumbai, Dec 26 (IANS) The Securities and Exchange Board of India (SEBI) has appointed former Chief Election Commissioner (CEC) Taruvai Subayya Krishnamurthy as the observer for the e-voting process of unit holders of six shut schemes of Franklin Templeton Mutual Fund. A SEBI statement said the appointment was made on December 18, 2020, for the […]

New Delhi, Dec 26 (IANS) Even though the Covid-induced nationwide lockdown brought to a halt the operations of all passenger, mail and express trains, the national transporter will meet its operating expenditure from its earnings, Railway Board Chairman V.K. Yadav said on Saturday. He was commenting on the health of the beleaguered railways which so […]

Mumbai, Dec 25 (IANS) India’s foreign exchange reserves rose by $2.563 billion during the week ended December 18. According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $581.131 billion from $578.568 billion reported for the week ended December 11. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

New Delhi, Dec 25 (IANS) As e-commerce operations witnessed a steep growth amid the pandemic, a recent survey shows that there is a sense of optimism among small and medium enterprises (SME) in India backed by higher sales through this route. The survey, commissioned by FedEx and conducted by Dun & Bradstreet India, showed that […]

New Delhi, Dec 25 (IANS) The toll collection per day via ‘FASTag’ crossed Rs 80 crore on Thursday as 50 lakh transactions took place via the electronic highway user fee collection system. According to state-run NHAI, Rs 80 crore per day toll collection mark was crossed on December 24. “With more than 2.20 crore ‘FASTag’ […]

New Delhi, Dec 25 (IANS) Automobile major Maruti Suzuki’s commercial vehicle Super Carry has reached a cumulative sales of more than 70,000 units in the last four years. The company, known for its passenger vehicles, had forayed into the commercial segment in 2016. “Specifically engineered for the Indian mini-truck customer who values superior mileage, Super […]

New Delhi, Dec 25 (IANS) Automobile major Maruti Suzuki’s commercial vehicle Super Carry has reached a cumulative sales of more than 70,000 units in the last four years. The company, known for its passenger vehicles, had forayed into the commercial segment in 2016. “Specifically engineered for the Indian mini-truck customer who values superior mileage, Super […]

New Delhi, Dec 25 (IANS) The race to acquire the bankrupt Dewan Housing Finance Corporation Ltd (DHFL) has intensified with both the final bidders Oaktree and Piramal having enhanced their offers. US-based Oaktree Capital has raised its offer for the insolvent NBFC by Rs 1,700 crore, intensifying the bidding war with Piramal Enterprises. In its […]

New Delhi, Dec 24 (IANS) In a major step towards strengthening port infrastructure, the government proposes to create product specific warehouses at various major and non-major ports across the country. The proposed warehouses will cater to a host of products such as cement, electronic products, pharmaceuticals, auto spares parts and components. They will also be […]

New Delhi, Dec 24 (IANS) Smaller enterprises have shown a “big digital shift” to shore up sales in pandemic times, a Crisil survey report said on Thursday. According to the survey report of firms with revenue less than Rs 25 crore, the adoption of digital sales channels among micro and small enterprises (MSEs) has increased […]

New Delhi, Dec 24 (IANS) Christmas and New Year celebrations have come about as a silver lining for the hospitality industry which has been among the worst-impacted sectors due to the lockdowns and the pandemic. More and more people are moving outstation on staycations of three to four days, along with their friends and families. […]

New Delhi, Dec 24 (IANS) Infogain, a Silicon Valley-based digital platform and software engineering company, has acquired Absolutdata, a San Francisco Bay Area based AI and Advanced Analytics company. Absolutdata’s award-winning ‘NAVIK AI’ platform and 300 data scientists will significantly enhance Infogain’s ability to engineer superior business outcomes for its clients through the use of […]

Beijing, Dec 24 (IANS) In a significant development, China’s top market watchdog on Thursday started investigation into alleged anti-competition practices by ecommerce giant Alibaba, as Beijing tightened control of an expanding Internet. In a brief note, the State Administration for Market Regulation said that it is investigating Alibaba over its “choosing one from two” policy. […]

Hyderabad, Dec 23 (IANS) Telangana’s Industry and Information Technology Minister K.T. Rama Rao on Wednesday urged the Centre to allocate special funds for various projects in the state in the upcoming Union Budget 2021-22. In a letter to Union Commerce and Industry Piyush Goyal, he requested special funds for projects such as Hyderabad Pharma City, […]

By Rohit VaidNew Delhi, Dec 23 (IANS) Two-wheeler manufacturer Honda Motorcycle & Scooter India is hopeful of a demand recovery in 2021, on the back of lower industry base, new launches and a differentiated customer experience centres. Accordingly, the company looks forward for further demand revival during the initial few months of 2021. Honda Motorcycle […]

New Delhi, Dec 22 (IANS) A Delhi High Court verdict clearly shows that the Future Retail Limited (FRL) board resolution of selling out to Reliance has been found to be fine and it is therefore aligned to the company law and other relevant provisions. The takeaway from the verdict is that it seems there are […]

Mumbai, Dec 22 (IANS) Amid the Covid-19 pandemic, Maharashtra remains the biggest magnet for investors, attracting a whopping Rs 1.12 lakh crore plus worth of industrial investments in the past six months, Chief Minister Uddhav Thackeray said on Tuesday. The state signed 25 fresh MoUs with investment commitments of Rs 61,000 crore spanning 15 different […]

New Delhi, Dec 22 (IANS) Railways Minister Piyush Goyal on Tuesday emphasised making parcel services more customer-friendly as he directed officials to increase the production of LHB parcel vans, and to introduce e-Payment and digital payment facilities. In a review meeting with Railway Board officials, Goyal appreciated the efforts done by the national transporter, especially […]

Mumbai, Dec 22 (IANS) A last hour bout of healthy buying lifted the country’s domestic stock markets on Tuesday after concerns over a mutant strain of Covid-19 discovered in the UK dampened indices for the better part of the day’s trade session. Monday’s sharp decline made valuations more attractive and re-ignited FII flows into the […]

New Delhi, Dec 22 (IANS) A revival in demand, led by increased offtake from e-commerce channels, will support a rebound for paper-packaging entities this fiscal, offsetting the impact of pandemic-induced disruptions in the first quarter, Crisil said on Tuesday. According to the rating agency, despite a 200 basis points (ps) blow to operating margin, credit […]

Bengaluru, Dec 21 (IANS) Karnataka cleared five investment proposals worth Rs 26,659 crore, which would create 13,341 jobs, an official said on Monday. The proposals were cleared at a meeting of the state high level clearance committee under the chairmanship of Chief Minister B.S. Yediyurappa. The proposals include Elest Ltd investing Rs 14,255 crore to […]

Takkellapadu (Andhra Pradesh), Dec 21 (IANS) Andhra Pradesh Chief Minister Y. S. Jagan Mohan Reddy launched an ambitious comprehensive land survey exercise at Takkellapadu village of Jaggaiahapeta mandal in Krishna district on Monday. Dubbed YSR Jagananna Shaswata Bhu Hakku and Bhu Raksha, the survey is one of its kind initiatives taken up by the government, […]

New Delhi, Dec 21 (IANS) Mahindra & Mahindra’s South Korean subsidiary SsangYong Motor Company (SYMC) has filed for rehabilitation procedure with the Seoul Bankruptcy Court. In a regulatory filing, Mahindra said that SYMC has also applied for an Autonomous Restructuring Support (ARS) programme which is a court-designed process. “SYMC has today intimated to the Korean […]

New Delhi, Dec 21 (IANS) The Supreme Court has given the judgment in the case of MMTC versus Anglo American Metallurgical Coal within seven days from the day the order was reserved, while the hearing was concluded within three months from the date of filing of the petition in the apex court. The Supreme Court […]

Mumbai, Dec 21 (IANS) Prices of precious metals rose on Monday, with futures of silver surging over 3 per cent on the Multi-Commodity Exchange (MCX). The March contract of silver on the MCX is currently trading at Rs 70,479, higher by Rs 2,572 or 3.79 per cent from its previous close. Gold futures on the […]

New Delhi, Dec 21 (IANS) Industry body FICCI has called for abolition of anti-profiteering provisions in the GST law to allow market forces to determine prices of goods and service. The plea has been made in a set of pre-Budget recommendations submitted by the federation to the Finance Ministry for implementation in FY22 Budget. The […]

Mumbai, Dec 21 (IANS) Edelweiss Financial Services Limited (EFSL), the parent arm of the Edelweiss Group, on Monday announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of a face value of Rs 1,000 each, amounting to Rs 100 crore, with an option to retain over-subscription up to Rs 100 crore aggregating to a […]

Mumbai, Dec. Dec 21 (IANS) The ambitious 8-lane Mumbai Coastal Road project is now 17 per cent complete on the southern side from Marine Drive to Worli and the sector is expected to be operational by July 2023, BMC Municipal Commissioner I.S. Chahal said here on Monday. “Substantial work has been done in the past […]

New Delhi, Dec 21 (IANS) Oil marketing companies continued to hold back any change in retail price of petrol and diesel, continuing with their wait and watch stance that has kept the prices of two auto fuels static for the past couple of weeks. Accordingly, there was no change in retail price of auto fuels […]

Hyderabad, Dec 20 (IANS) South Central Railway has won three national energy conservation awards announced by the Bureau of Energy Efficiency, Ministry of Power, Government of India. These awards were declared for the year 2020 as part of the National Energy Conservation week being celebrated from December 14 to December 21 throughout the year. The […]

Hyderabad, Dec 20 (IANS) South Central Railway has won three national energy conservation awards announced by the Bureau of Energy Efficiency, Ministry of Power, Government of India. These awards were declared for the year 2020 as part of the National Energy Conservation week being celebrated from December 14 to December 21 throughout the year. The […]

By Venkatachari JagannathanChennai, Dec 20 (IANS) With guest offerings and service levels remaining similar across the star hotels and some four-star hotels matching five-star services, price is the deciding factor now, said senior industry officials. According to them, many corporates are now using the online travel sites to book rooms for their travelling executives as […]

By Venkatachari JagannathanChennai, Dec 20 (IANS) With guest offerings and service levels remaining similar across the star hotels and some four-star hotels matching five-star services, price is the deciding factor now, said senior industry officials. According to them, many corporates are now using the online travel sites to book rooms for their travelling executives as […]

New Delhi, Dec 20 (IANS) As the pandemic has severely impacted several sectors along with the country’s job scenario, a KPMG report has suggested that the government should take appropriate measures to boost employment along with targeted short-term direct income transfers to vulnerable groups who have been hit hard during these tough times. The report […]

New Delhi, Dec 20 (IANS) The Board of IL&FS has approved the appointment of Nand Kishore as the Executive Director of the company, with effect from December 21. Nand Kishore was so far serving on the IL&FS Board as Non-Executive Director. The Ministry of Corporate Affairs had earlier approved his appointment as the Executive Director. […]

New Delhi, Dec 20 (IANS) Petrol and diesel prices were unchanged for the 13th consecutive day on Sunday across the four metro cities. In the national capital, petrol was priced at Rs 83.71 per litre. In the other key cities of Mumbai, Chennai and Kolkata, the fuel was sold for Rs 90.34, Rs 86.51 and […]

By Quaid NajmiMumbai, Dec 20 (IANS) In a dubious distinction of sorts, the Bharatiya Janata Party-led NDA rule achieved the highest loans write-off between 2015 and 2019, which is more than three times compared to the figures of bad loans written off during the previous Congress-led UPA regime from 2004-2014, as per an RTI revelation. […]

New Delhi, Dec 19 (IANS) The civil aviation regulator has granted operation permit to Air Taxi India, making the company the newest airline in the country. According to a senior Directorate General of Civil Aviation official, the airline has received the permit this week. The airline is set to launch regional operations. It plans to […]

New Delhi, Dec 19 (IANS) Country’s largest power producer NTPC proposes to forge a joint venture with government’s strategic investment fund NIIF to set up an infrastructure investment trust (InvIT). The proposed InvIT will help NTPC to monetise some of its operational renewable energy projects. Funds raised from such exercise would be used by the […]

New Delhi, Dec 19 (IANS) Outlook for the on-going Rabi season remains encouraging, said Motilal Oswal Financial Services. In a report, it cited that fertiliser and agrochemical players are also likely to report healthy performances in 2HFY21. “Farm income was impacted in some states, mainly due to lower yield on account of untimely rains,” the […]

New Delhi, Dec 19 (IANS) Oil marketing companies continued to hold back any change in retail price of petrol and diesel continuing with their wait and watch stance that has kept the prices of two auto fuels static for past 12 days. Accordingly, there was no change in retail price of auto fuels on Saturday […]

New Delhi, Dec 18 (IANS) Bharti Global and the UK government-led satellite communications company OneWeb on Friday announced the launch of 36 satellites from a Soyuz launch vehicle, which began from the Vostochny Cosmodrome (Russia). A statement by OneWeb said that the development brings the total in-orbit constellation to 110 satellites, part of OneWeb’s 648 […]

New Delhi, Dec 18 (IANS) Zurich Airport International and UP state government have finalised the nomenclature of the greenfield airport at Jewar as Noida International Airport. The Yamuna International Airport Private Limited will build and operate the airport. According to the company, the name and logo were finalised in the presence of Chief Minister of […]

New Delhi, Dec 18 (IANS) Reliance Industries Limited (RIL) and BP on Friday announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the Kakinada coast. RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which […]

New Delhi, Dec 18 (IANS) Automobile manufacturer MG Motor India on Friday said it will introduce the ‘MG Hector Plus’ seven-seater version in January 2021. Besides, the company would also undertake a price revision across its product range in view of miscellaneous cost increase. Accordingly, the price hike will range up to 3 per cent […]

New Delhi, Dec 18 (IANS) Amid the coronavirus pandemic and ongoing farmers’ protests, the total acreage under Rabi crops in India has witnessed an increase of nearly 5 per cent this season compared with the figure from the corresponding period a year ago, official data showed on Friday. As per Agriculture and Farmers Welfare Ministry […]

New Delhi, Dec 18 (IANS) Airline major SpiceJet on Friday said that its seaplane operations will restart from December 27 after they were temporarily suspended due to mandatory aircraft maintenance. In October, the airline company had launched a seaplane service between Ahmedabad (Sabarmati riverfront) and the Statue of Unity in Kevadia, Gujarat. The flight service […]

New Delhi, Dec 18 (IANS) The railways is operating 1,089 mail and express trains as compared to 1,768 trains which used to run before the Covid-19 pandemic, officials said on Friday. Addressing a virtual press conference here, Railway Board Chairman and CEO V. K. Yadav said, “As of now we are operating 1,089 mail and […]

New Delhi, Dec 18 (IANS) The fitness industry has been severely impacted by the pandemic and a recent report shows that enquiries for gym equipment have declined on a month-on-month basis since August. Citing data on leads or enquiries generated on an e-commerce site, the report by fitness chain, Grand Slam Fitness Pvt Ltd, showed […]

Mumbai, Dec 18 (IANS) Profit booking along with extremely high stock valuations subdued the Indian equity market on Friday. Accordingly, market opened with marginal gains on back of favourable cues from global bourses. However, profit booking led to a correction. Among sectors, IT and Pharma indices gained with losses being seen in banking and financial […]

Mumbai, Dec 18 (IANS) Gold and silver prices declined on Friday as traders booked profits after the recent surge in prices. Further, increasing hopes of an economic stimulus from the US government also weighed on the price of gold internationally, which reflected in the domestic market. As the US Congressional Republicans and Democrats try to […]

New Delhi, Dec 18 (IANS) As the Finance Ministry prepares for the upcoming Union Budget for the FY21-22, it has been speaking to several stakeholders; industry body FICCI has come up with a number of suggestions, including support for infrastructure projects and rationalisation of GST slabs. The industry body has asked government to incentivise investments […]

Mumbai, Dec 18 (IANS) The BSE Sensex opened above the psychological mark of 47,000 for the first time on Friday. It, however, could not hold on to the gains and turned negative in the next few minutes. It opened at an all-time high of 47,026.02 points. Around 9.40 a.m., Sensex was trading at 46,752.93, lower […]

Mumbai, Dec 17 (IANS) Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday. Accordingly, […]

New Delhi, Dec 17 (IANS) India’s aviation regulator DGCA is investigating an incident where in a cargo-only flight of budget airline GoAir took off from Chennai with 160 passengers, without the clearance to land at the destination, Port Blair. An official with the Directorate General of Civil Aviation (DGCA) said that the regulator is probing […]

New Delhi, Dec 17 (IANS) Union Minister Piyush Goyal is hopeful that an early harvest proposition of India, within the framework of a larger Free Trade Agreement, will be accepted by the UK. While, addressing a CII session on ‘Post-Brexit UK and India’, the Union Minister of Railways, Industry and Commerce, and Food and Consumer […]

New Delhi, Dec 17 (IANS) Union Finance Minister Nirmala Sitharaman on Thursday said that any amount of government intervention will not be adequate to deal with the impact of novel coronavirus on the economy. Addressing an event of the Indian Chamber of Commerce (ICC) virtually, Sitharaman said that although the economy was witnessing a revival […]

New Delhi, Dec 17 (IANS) The long-drawn legal battle between Ratan Tata and Cyrus Mistry has reached finality, after the Supreme Court on Thursday reserved its verdict on the cross-appeals by Tata Sons and Cyrus Investments, challenging the NCLAT order, which restored Mistry as the Executive Chairman of the Tata conglomerate. Senior advocate Harish Salve, […]

New Delhi, Dec 17 (IANS) India’s FY21 GDP is expected to contract at 7.8 per cent, ratings agency ICRA said on Thursday. As per the agency, in Q3FY21, rising raw material and wage costs would partly counteract the positive impact of a modest rise in volumes in the industrial sector. Consequently, with a steady performance […]

New Delhi, Dec 17 (IANS) The Board of Zee Entertainment Entertainment Ltd (ZEEL) on Thursday has approved the acquisition of film production and distribution business from Zee Studios Limited, a wholly owned subsidiary of the former for a cash consideration of Rs 275 crore. This transaction comprises the acquisition of the business undertaking pertaining to […]

New Delhi, Dec 17 (IANS) Airline major SpiceJet will launch 30 new domestic services including six new flights from Darbhanga in Bihar. Accordingly, the new flights will commence in a phased manner from December 20, 2020. “Enhancing connectivity from Darbhanga, SpiceJet will launch flights connecting the city with Ahmedabad, Pune and Hyderabad,” the airline said […]

New Delhi, Dec 17 (IANS) Air India pilots have demanded that pilots who have tested positive for Covid-19 be given their monthly base flying allowance. In a letter to the Air India Chairman and Managing Director, the Indian Pilots Guild and the Indian Commercial Pilots Association (ICPA) have said that hardships are being faced by […]

New Delhi, Dec 17 (IANS) India’s FY21 GDP is expected to contract at 7.8 per cent, said ratings agency ICRA on Thursday. According to the agency, in Q3FY21, rising raw material and wage costs would partly counteract the positive impact of a modest rise in volumes in the industrial sector. Consequently, with a steady performance […]

New Delhi, Dec 17 (IANS) A United States firm has collaborated with Farmer Producer Organisations (FPOs) to manufacture nutraceuticals from turmeric ‘Lakadong’, a special turmeric variety that grows in India’s Meghalaya. In this regard, Union Agriculture Minister Narendra Singh Tomar and Meghalaya Chief Minister Conrad K. Sangma on Thursday launched the famous ‘Lakadong’ turmeric in […]

New Delhi, Dec 17 (IANS) Bullish global cues after the US FOMC meet lifted the key Indian equity indices to reach new record intraday highs on Thursday. Accordingly, the market had a “gap up” opening at their respective high levels. In terms of sectors, most of the indices traded in the green. Among them, Pharma, […]

Chennai, Dec 17 (IANS) Indian automobile major Tata Motors Ltd on Thursday said it would buy the 49 per cent stakes of Marcopolo S.A. in the bus and coach making joint venture Tata Marcopolo Motors Ltd for Rs 99.96 crore. In a regulatory Tata Motors said as a consequence of its refreshed business strategy, Marcopolo […]

By Rohit VaidNew Delhi, Dec 17 (IANS) After a healthy festive season led demand push, snacking major Mondelez India foresees continuance of positive off-take sentiment. Accordingly, Mondelez India, which was formerly, known as Cadbury India has cited that pandemic has actually accelerated the growth of snacking in India. Besides, the company has expanded its e-com […]

Mumbai, Dec 17 (IANS) Corporate earnings are likely to witness a sharp revival in the next financial year backed by economic recovery, said a report by Kotak Institutional Equities. “We expect 28 per cent and 19 per cent growth in net profits of the Nifty-50 Index in FY2022 and FY2023 following 11 per cent growth […]

New Delhi, Dec 17 (IANS) Export-Import Bank of India (India Exim Bank) forecasts India’s Non-Oil exports for the third quarter of FY2021 to amount to $ 68.3 billion, witnessing a marginal positive growth of 0.3 per cent over the corresponding quarter of the previous year, after three consecutive quarters of contraction. On the other hand, […]

Mumbai, Dec 17 (IANS) Inflation in India may continue to be elevated in 2021, according to a report by ICICI Securities. The report, however, predicted an ease in inflation by the end of next year. “We expect inflation to remain elevated in early CY21 due to supply-side constraints. As per our forecasts, CPI inflation is […]

New Delhi, Dec 17 (IANS) Oil marketing companies continued to hold back any change in the retail price of petrol and diesel continuing with their wait and watch stance that has kept the prices of two auto fuels static for the past 10 days. Accordingly, there was no change in retail price of auto fuels […]

Panaji, Dec 17 (IANS) The Goa government is making attempts to bring small hospitality industry players on one portal to boost ease of doing business in the tourism sector, Chief Minister Pramod Sawant said on Thursday at the CII Annual Tourism Summit. “Goa has launched a new state tourism policy which will help the government […]

Mumbai, Dec 17 (IANS) The key Indian equity indices opened on a positive note on Thursday with the BSE Sensex crossing the 46,800 mark. Both the Sensex and Nifty50 touched new record highs of 46,812.37 points and 13,724.70 points respectively. Healthy buying was witnessed in consumer durables and healthcare stocks, while decline in metal, telecom […]

Washington, Dec 17 (IANS) The US Federal Reserve on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero after concluding the final policy meeting of 2020, while expecting rates to stay there at least through 2023. “Economic activity and employment have continued to recover but remain well below their levels […]

New Delhi, Dec 16 (IANS) The government has announced a subsidy of Rs 3,500 crore for the export of 6 million tonnes of sugar in the current sugar season 2020-21 (October-September) under the scheme of Maximum Admissible Export Quota (MAEQ) allocated to the sugar mills for the season. Sugar industry body Indian Sugar Mills Association […]

Mumbai, Dec 16 (IANS) Capital markets regulator SEBI has granted Hindujas, the promoters of IndusInd Bank, a month’s extension, till February 4, 2021, to bring in the balance amount of Rs 2,021.45 crore to subscribe to warrants of the bank. The amount forms 75 per cent of warrants to be converted into the equity of […]

Dehradun, Dec 16 (IANS) The Rail Land Development Authority (RLDA), which is working on the redevelopment of the Dehradun railway station, has sought approval for its detailed project report involving a high-rise building of 83.5 m height, officials said on Wednesday. According to RLDA officials, the approval was sought during a meeting of RLDA Vice […]

New Delhi, Dec 16 (IANS) The Indian government and the New Development Bank (NDB) on Wednesday signed a loan agreement for lending $1 billion for supporting India’s economic recovery from Covid-19. The loan from the NDB will support expenditures on rural infrastructure related to natural resource management (NRM) and rural employment generation under the Mahatma […]

New Delhi, Dec 16 (IANS) Former Tata Sons Chairman Cyrus Mistry on Wednesday told the Supreme Court that 2016 board meeting had no agenda for his removal and Articles of Associations (AoA) were breached in his ouster. As the legal battle in the Tata-Mistry case entered its sixth day, senior advocate Shyam Divan, representing Sterling […]