Business


Gold, Silver Cost Today, 23 July 2021: On the Multi Product Exchange (MCX), gold futures due for an August 5 shipment, were last seen trading lower by Rs 75 - or 0.16 percent - at Rs 47,559 ...
Details
Category: Business

Write comment (94 Comments)


Zomato IPO was subscribed 38.25 times; the part booked for qualified institutional purchasers was subscribed 51.79 times, non-institutional financiers attracted 32.96 times subscription and retail... Zomato IPO: The food delivery start-up has actually repaired the IPO cost at Rs 76 per shareZomato shares will debut on the bourses tomorrow i.e. July 23 rather of the scheduled date of July 27, a Zomato representative informed TheIndianSubcontinent. The food delivery start-up has actually repaired the IPO cost at Rs 76 per share, which is at the upper end of the rate series of Rs 72-76. The shares will be noted on both, BSE and NSE.Zomato's Rs 9,375-crore offer had gotten a stupendous reaction from the investing community. The IPO was subscribed 38.25 times; the part reserved for qualified institutional purchasers (QIB) was subscribed 51.79 times, non-institutional investors drew in 32.96 times membership and retail sector, 7.45 times.The restaurant aggregator and food shipment company's offer included a fresh issue of Rs 9,000 crore and a market of Rs 375 crore by the promoter, Info Edge India.The anchor book had likewise amassed a strong action ahead of the IPO. Zomato raised Rs 4,196.51 crore from 186 anchor financiers, consisting of New World Fund Inc, American Funds, Tiger Global Investments Fund, BlackRock Global, Lansforsakringar Asienfond, JPMorgan, Morgan Stanley Mutual Fund, T Rowe Rate and Canada Pension Plan Investment Board, at a price of Rs 76 per share.Zomato was incorporated in 2008. Backed by China's Ant Group, Zomato is among the most popular startups in the nation today and also has a presence in 24 nations worldwide.
Details
Category: Business

Write comment (90 Comments)


Hindustan Unilever Q1 FY22 Results: Hindustan Unilever Limited - the country's leading fast-moving durable goods maker reported a net earnings of Rs 2,061 crore on a standalone basis, registering a. ... Hindustan Unilever Q1 Incomes: Net revenue rose 10 percent to Rs 2,061 crore Hindustan Unilever Q1 FY22 Results: Hindustan Unilever Limited - the country's leading fast-moving durable goods maker reported a net earnings of Rs 2,061 crore on a standalone basis, registering a growth of 9.5 percent in the April-June quarter from Rs 1,881 crore during the very same quarter in 2015. The overall earnings stood at Rs 11,982 crore, compared to Rs 10,716 crore in the year-ago period. On a sequential basis, Hindustan Unilever's standalone net earnings decreased 3.8 per cent, compared to Rs 2,143 crore reported at completion of the preceding January-March quarter in the financial year 2020-21 (Also Check Out: Hindustan Unilever Revenue Jumps 41% To 2,143 Crore In March Quarter )The company's profits from operations in the June quarter stood at Rs 11,915 crore, compared to Rs 10,560 crore in the corresponding quarter in 2015, marking a growth of 12,83 percent year-on-yearThe business's overall sales grew by 13 per cent, domestic customer growth grew by 12 percent, while the hidden volume development can be found in at 9 percent in the first quarter of the current fiscal.The company's house care organization grew at 12 per cent driven by double-digit growth in fabric wash. The home care sector provided double-digit growth on a strong base.The charm and individual care company grew 13 per cent led by hair care and skin care, both delivering high double-digit development. Skin Cleansing marked strong momentum, and soaps grew on a high base.During the quarter, HUL launched 'Pepsodent' mouthwash, new hydrating gels, and body creams in 'Vaseline' and 'Lakme Lip Crayons'. It also released 'Kwality Wall's Cadbury Crackle' frozen desert, in partnership with Mondelez International.The foods and drink service grew by 12 per cent in the quarter. All tea brand names provided high double-digit development. Ketchups and soups performed well driven by strong volume growth on a high baseHindustan Unilever's EBITDA (incomes before interest, taxes, depreciation, and amortization) margins stood at 24 percent in the April-June quarter Our performance in the quarter has actually been durable and is reflective of our abilities, the agility in our operations and the intrinsic strength of our portfolio ... Looking forward, we stay meticulously optimistic about the demand healing. Our focus strongly remains behind providing volume-led competitive development and margins in a healthy range, stated Sanjiv Mehta, Chairman and Managing Director, HUL.On Thursday, shares of Hindustan Unilever were last trading 2.07 per cent lower at Rs 2,383.50 apiece on the BSE
Details
Category: Business

Write comment (97 Comments)


The CCI examination is the current setback for the companies, which are also facing harder foreign financial investment guidelines ... Karnataka High Court on Friday dismissed an appeal by Amazon.com Inc and Walmart's Flipkart that sought to stall an antitrust examination into their company practices - a major problem for the companies.The Competition Commission of India (CCI) in 2015 purchased a probe following accusations from brick-and-mortar merchants that the U.S. firms promote select sellers on their e-commerce platforms and utilize deep discounts to suppress competition.The investigation was on hold for numerous months after companies challenged it, denying misdeed and arguing that the CCI lacked proof, however a court enabled it to continue in June. On Friday, the Karanataka High Court rejected the U.S. companies' appeals. The appeals are nothing however an effort to ensure that action initiated by the CCI ... does not attain finality, a two-judge bench said while reading the choice in court. The appeals are lacking merit, and be worthy of to be dismissed. Amazon and Flipkart did not immediately react to an ask for comment. This further strengthens that the CCI investigation must continue immediately, stated Abir Roy of Sarvada Legal which submitted the antitrust case against Amazon, Flipkart on behalf of a trader group.The CCI investigation is the latest obstacle for the firms, which are also facing tougher foreign investment guidelines and accusations from brick-and-mortar sellers that they circumvent Indian law by developing complicated organization structures.
Details
Category: Business

Write comment (95 Comments)

Bank of Maharashtra Q1 Results: The Pune-based public-sector lender's net profit jumped 104 per cent -almost two-folds to Rs 208 crore in the first quarter of the current fiscal...
Details
Category: Business

Write comment (93 Comments)

Hindustan Unilever has reported a 9.6 per cent jump in Q1 net profit at Rs 2,061 crore in the quarter ended June 30 compared to Rs 1,881 crore in the same quarter last year...
Details
Category: Business

Write comment (96 Comments)


Telecom Shares Today: Shares of Vodafone declined 9.7 per cent to hit their lowest level considering that October in 2015, while Bharti Airtel fell 2.6 percent ... Shares of Vodafone decreased 9.7 per cent, while Bharti Airtel fell 2.6 per cent.Shares of top telecom business including Bharti Airtel and Vodafone Concept dropped on Friday, July 23, after the Supreme Court rejected their appeal to think about the mistakes in adjusted gross profits (AGR) calculations. Shares of Vodafone declined 9.7 percent to hit their least expensive level considering that October in 2015, while Bharti Airtel fell 2.6 percent. (Likewise Check Out: Supreme Court Rejects Telecoms' Plea To Recalculate Charges Owed To Centre )On Friday, Bharti Airtel opened on the BSE at Rs 549, inching to an intra day high of Rs 560.50 and an intra day low of Rs 532.85, in the trading session so far. Shares of Bharti Airtel were last trading 0.60 per cent greater at Rs 549.80 on the BSE. Vodafone Concept opened on the NSE at Rs 9.35, inching to an intra day high of Rs 9.55 and an intra day low of Rs 7.90, in the session up until now. Shares of Vodafone were last trading 7.03 per cent lower at Rs 8.60 on the NSE.The telecom majors had actually moved the Supreme Court in 2015 looking for modification in the court's decision in the AGR matter. The companies, wishing to reduce their liabilities, had argued that the nation's telecommunications department made mathematical errors while calculating their AGR fees. Bharti Airtel owed more than Rs 43,000 crore as AGR dues. Vodafone Concept's balance payment went beyond 50,000 crore, according to the Department of Telecom.The matter revolves around the definition of the adjusted gross revenue. Telecom firms pay a portion of their incomes as a license cost to the federal government and their contention was that non-core services such as rent or income from the sale of handsets or roaming charges need to not be consisted of in the revenue of which they pay a percentage. The companies look for to pay on incomes earned only from their core business.
Details
Category: Business

Write comment (99 Comments)


The Cabinet approved strategies to permit 100 per cent foreign direct investment in state-run oil companies in which a tactical stake sale is announced ... Cabinet has actually authorized strategies to allow 100 percent FDI in state-run oil companiesThe Union Cabinet authorized plans on Thursday to permit 100 percent foreign direct investment in state-run oil business in which a tactical stake sale is announced, a move to help privatisation of Bharat Petroleum Corp, 2 federal government sources said. Foreign investment approximately 100 per cent under automatic path is allowed in cases where government has accorded in-principle approval for strategic disinvestment of the PSU (public sector undertaking) participated in petroleum and gas sector, stated one of the sources.India up until now permits 49 percent foreign direct financial investment in state-run oil and gas companies. The government wants to offer its near 53 percent stake in BPCL, India's second-largest state-run refiner, in this financial year ending in March 2022, as part of plans to raise 1.75 trillion rupees ($23.5 billion) from stakes in companies.
Details
Category: Business

Write comment (97 Comments)


Tata Group is taking a more vocal interest in rules shaping online marketplaces, meaning ambitions as it reappraises its retail technique ... Tata Group is bullish about e-commerce space even as Federal government prepares to tighten up rulesTata Group is taking a more vocal interest in guidelines forming online markets, hinting at aspirations as it reappraises its retail method just as e-commerce reform threatens to muddy plans.The $106 billion corporation yet e-commerce minnow was much more vociferous in conversations than market leader Amazon.com Inc at a July 3 meeting with Government authorities about proposals such as the restriction of sales of own-brand or affiliates' products, attendees said.The rules would greatly increase the compliance concern of a conglomerate's many entities and interests, and injured them far more than smaller sized rivals, Tata Vice President Poornima Sampath informed the online event, according to two attendees.Tata declined to comment for this article. Ms Sampath did not react to an ask for comment.Two weeks earlier, the federal government alarmed the industry by proposing increased examination of relationships in between online market operators and their partners. The plan was widely considered as an effort to curb the dominance of Amazon and Walmart Inc's Flipkart and support high-street shops.The 153-year-old Tata conglomerate is ubiquitous on Indian high streets, so its voice in favour of e-commerce at the July 3 meeting suggests the degree to which it is altering tack.The firm is probably best known globally as owner of British high-end automobile brand name Jaguar Land Rover, however it also makes cars and trucks at home under its own brand. The group is likewise active in steelmaking, IT outsourcing, and hotel and airline company operation.In retail, Tata has an expansive offline portfolio including a joint venture with cafe operator Starbucks Corp and shops it operates for Inditex style brand Zara. Yet it is a minor gamer online - a situation it is determined to correct, stated 5 people with direct understanding of its plans.It bought most of online grocer BigBasket in May for over $1 billion and in June took control of online drug store 1mg. They will likely sign up with other marquee brand names on an app that Tata aims to pilot this year, stated 3 of the people.E-commerce is the next huge thing for Tata, and with that in mind, it plans to purchase many more brand names, stated among the people.None of the sources were authorised to speak publicly so decreased to be identified.Tata AppTata's latest digital push is not its first. It launched its Tata CliQ online market in 2016, which booked sales of $36 million in 2019-20. Yet that compared with approximately $10 billion at Amazon, which has actually invested billions of dollars in India.Still, in an e-commerce market widely predicted to be worth $200 billion by 2026, there is lots of area for Tata to grow.Through its app, Tata prepares to bring its brands together to offer services such as grocery shopping, meal and medication delivery, sales of electronic products plus online fitness plans, people knowledgeable about its plans said.Tata is still developing the app's features and identifying a go-to-market strategy, with the launch likely in stages, starting with some big cities, stated among the people.Another stated the pilot could begin as early as September in Bengaluru, the nation's IT hub.Spearheading the app is Tata Digital President Pratik Buddy, who acquired extensive experience with sellers in 28 years at IT contracting out unit Tata Consultancy Solutions Ltd.Yet digitally integrating the wide range of companies at a corporation the size of Tata Group is a challenging job, stated Keyur Majmudar, a handling partner at India's Bay Capital, adding that retaining consumers on a super app will be tough when there is a rise in numerous specific niche e-commerce gamers. They need an extreme shift in thinking. That (digital combination) is something they have actually never ever done prior to. The jury is still out, he said.Mr Buddy decreased to comment.Just as Tata's new digital technique gathers speed with acquisitions and app advancement, the Government has sprung a surprise that might indicate a rethink before the app is even piloted.A ban on marketplaces using affiliates' products could disallow its Croma electronics chain and Starbucks from Tata websites, Sampath stated at the July 3 meeting, according to 2 attendees.A restriction on sales of own-brand items has actually also activated questions about whether it will be able to retail its household names such as Tata Tea or Tata Salt on its e-commerce platform.The Tata brand name includes a level of guarantee for consumers, Ms Sampath objected at the conference, looking for clearness on the federal government's policy strategies, attendees stated.
Details
Category: Business

Write comment (95 Comments)


Zomato IPO listing: At the day's highest level Zomato achieved market capitalisation of Rs 1.08 lakh crore on the BSE making it among the couple of noted entities to enter Rs 1 lakh crore market... Zomato shares jumped as much as 83% from concern cost to strike an intraday high of Rs 138.90. Zomato's market capitalisation topped Rs 1 lakh crore-milestone after a blockbuster listing on stock market, data from BSE revealed. Zomato shares rose more than 50 percent over the problem cost of Rs 76 to open at Rs 116 on the National Stock Market. Zomato shares leapt as much as 83 per cent from the problem cost to strike an intraday high of Rs 138.90. At the day's greatest level Zomato accomplished market capitalisation of Rs 1.08 lakh crore on the BSE making it one of the couple of noted entities to go into Rs 1 lakh crore market capitalisation club on market debut.The IPO of the online food shipment provider was the second biggest IPO after the Rs 15,199.44 crore Coal India share sale method back in October 2010. It is likewise the very first Indian mega startup to go public, leading the way for the other leading digital business such as Paytm, Flipkart and Ola to take the IPO route.Zomato's Rs 9,375-crore offer had gotten a stupendous reaction from the investing neighborhood. The IPO was subscribed 38.25 times; the part reserved for certified institutional buyers (QIB) was subscribed 51.79 times, non-institutional financiers brought in 32.96 times membership and retail section, 7.45 times.Following the bumper listing Zomato co-founder tweeted: A great deal of individuals are calling this a 'historical minute'. It is not. History is always made in hindsight. Never in today. Back to work. Zomato was integrated in 2008. Backed by China's Ant Group, Zomato is among the most popular startups in the country today and has a presence in 24 nations worldwide.As of 11:44 am, Zomato shares traded 64 per cent higher from problem price at Rs 124.
Details
Category: Business

Write comment (97 Comments)


Rupee Vs Dollar Rate Today: At the interbank forex market, the local unit opened at 74.46 against the dollar and signed up an intra-day high of 74.33 ...
Details
Category: Business

Write comment (91 Comments)


5 years given that the Corporate Insolvency Resolution Process under the Insolvency and Personal bankruptcy Code 2016 started, it has dealt with only 394 cases ... Only 394 out of the 4,540 cases under business insolvency process have actually been solved in five yearsIn the last 5 years given that the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 came into existence, only 394 cases have managed to reach a resolution out of the 4,540 cases which have actually been admitted under it till June 30, 2021. According to data provided by the Ministry of Corporate Affairs, the aggregate realisable quantity from the 394 cases which have actually been dealt with under CIRP is Rs 2.45 lakh crore. This quantity relates to financial creditors in addition to banks.The Insolvency and Insolvency Code, 2016 (IBC) is a personal bankruptcy legislation, which was passed by the Parliament in May 2016 with the goal of developing a single law for bankruptcy and insolvency.It was termed as a one stop solution for fixing insolvencies which earlier took a long time to get cleared and frequently did not provide an economic practical arrangement.The CIRP is started on the basis of default quantity and info on the quantity of total debt of the corporate debtors under it is not preserved by the Insolvency and Bankruptcy Board of India.
Details
Category: Business

Write comment (90 Comments)

In September last year, the topcourt had granted the telecom companies a period of 10 years to pay their pending AGR dues, amounting to Rs 93,520 crore, to the government...
Details
Category: Business

Write comment (90 Comments)


A petition has been filed before the Supreme Court seeking constitution of the Product and Services Tax Appellate Tribunal ... A petition has been submitted in Supreme Court for constitution of GST Appellate TribunalA petition has been filed before the Supreme Court seeking constitution of the Goods and Provider Tax (GST) Appellate Tribunal.The petition, which is likely to come up for hearing soon, stated that even after 4 years of the Central Product and Provider Act coming into existence, the tribunal has not been constituted.It claimed that the citizen aggrieved are constrained to approach particular high courts in the absence of a Tribunal and the very same is overburdening work of the high courts. In lack of an Appellate Tribunal, the litigants are not able to get justice within an affordable duration and the exact same is triggering extreme hardship to the litigants across the country, the PIL, submitted by supporter Amit Sahni, said.It said that the constitution of national and other benches of Appellate Tribunal has ended up being an outright requirement of the hour and the respondents can not drag its constitution for an indefinite period.It even more said that the duration of restriction to submit appeal prior to the tribunal, i.e., 90 days, can not be extended by way of administrative order by the Centre in conflict of statutory arrangements, and more particularly such extension can not be provided for an indefinite duration.
Details
Category: Business

Write comment (90 Comments)


Zomato IPO: The Rs 9,375-crore public offer consisted of a fresh concern of Rs 9,000 crore and a sell of Rs 375 crore by the promoter, Information Edge India ...
Details
Category: Business

Write comment (92 Comments)

India also plans to build strategic storage at Chandikhol in Odisha and Padur in Karnataka for around 6.5 million tonnes of crude to provide an additional cover of 12 days of net oil imports...
Details
Category: Business

Write comment (96 Comments)


Havells India Share Price: On Thursday, Havells India opened on the BSE at Rs 1,150, swinging to an intra day high of Rs 1,184 and an intra day low of Rs 1,125.50, throughout the session ...
Details
Category: Business

Write comment (92 Comments)


The cooperation will allow Airtel to power a hyperconnected world where market 4.0, cloud gaming and virtual or increased truth end up being a day-to-day experience for consumers ...
Details
Category: Business

Write comment (94 Comments)


Ultra Tech Cement Q1 Results: The company's profits from operations stood at Rs 11,830 crore, compared to Rs 7,671 crore in the same quarter in 2015, marking a growth of 54.2 percent ...
Details
Category: Business

Write comment (91 Comments)


In a letter dated June 4, the Competitors Commission of India stated Amazon concealed accurate elements of the transaction by not exposing its strategic interest in Future Retail when it looked for approval for... Amazon has actually hidden its strategic interest in Future Retail, the letter saidThe country's antitrust regulator has actually accused Amazon.com Inc of hiding truths and making false submissions when it sought approval for a 2019 investment in a Future Group system, a letter to the U.S. e-commerce giant seen by Reuters showed.The letter complicates Amazon's bitter legal battle with Future Group over the company's choice to offer its retail possessions to Reliance Industries - a matter that is now before India's Supreme Court.Amazon has argued that terms agreed upon in its 2019 deal to pay $192 million for a 49 percent stake in Future's present voucher unit avoid its parent, Future Group, from offering its Future Retail Ltd organization to Reliance.In the letter dated June 4, the Competition Commission of India (CCI) stated Amazon concealed factual aspects of the transaction by not revealing its strategic interest in Future Retail when it sought approval for the 2019 offer. The representations and conduct of Amazon prior to the Commission total up to misrepresentation, making incorrect statement and suppression or/and concealment of product truths, the letter stated. It likewise noted that its review of the submissions made had actually been triggered by a complaint from Future Group.In the four-page letter, a so-called 'show cause notification', the CCI asked Amazon why it must not do something about it and punish the business for supplying false information.Amazon has yet to react, according to a source with direct understanding of the matter who declined to be determined as the letter has actually not been made public.Amazon stated in a declaration to Reuters it had actually gotten a letter, was dedicated to complying with India's laws and would extend its complete cooperation to the CCI. We are confident that we will be able to resolve the CCI's concerns, it said. Representatives for Future and the CCI did not respond to Reuters ask for comment.Vaibhav Choukse, a competitors law professional and partner at J. Sagar Associates, said it was unusual for the CCI to release such a notification which if the CCI was not pleased by Amazon's action, it might result in a fine and even an evaluation of the deal. The CCI has broad powers which includes directions to re-file the approval application and even revoke the approval under extraordinary circumstances, Choukse said.The CCI's 2019 approval order states its decision shall stand withdrawed if, at any time, the info supplied is found to be incorrect.Shares in Future Retail leapt after Reuters released details of the letter, extending gains to be up almost five per cent in Thursday afternoon trade. Submissions ComparedThe disagreement over Future Retail, which has more than 1,500 supermarket and other outlets, is the most hostile flashpoint in between Jeff Bezos' Amazon and Reliance, run by India's wealthiest male Mukesh Ambani, as they try to get the upper hand in winning over the nation's consumers.Amazon also has a host of other difficulties in India, a crucial development market where it has devoted $6.5 billion in financial investments, consisting of a separate CCI probe into alleged practices that small businesses state have harmed them.In addition, it deals with the possibility of more guidelines that would limit the sale of personal labels and would prohibit the U.S. company from allowing its affiliates to list products on its website.The CCI letter compared 3 sets of submissions Amazon made to it in 2019 with submissions made later on to other legal online forums, saying they were inconsistent. In particular, it stated Amazon had explained its interest in investing in Future's coupon system as one that would resolve gaps in India's payments industry. But the letter mentioned Amazon had actually revealed in other legal forums that the structure of its relationship with Future Voucher was particular unique rights it acquired over Future Retail. Amazon has actually hidden its strategic interest in Future Retail, the letter stated, adding: Such interest and the function of the combination ... was not disclosed to the Commission despite particular requirements. The CCI likewise challenged one section of a submission where Amazon had actually told the regulator it had nothing to do with one specific legal agreement that 2 Future entities had signed between themselves days ahead of its 2019 deal. Amazon later on declared prior to an arbitrator that the contract was an integrated part of the deal, the letter said.
Details
Category: Business

Write comment (94 Comments)


Delhi-Meerut RRTS: Micro-tunnelling strategy for utility diversion work began at the under-construction Anand Vihar station on the upcoming Delhi-Meerut local quick corridor...Delhi-Meerut quick rail will reduce travel time in between Delhi and Meerut to 55 minutesThe National Capital Regional Transport Corporation(NCRTC)-accountable for carrying out the nation's very first semi-high speed regional fast transit system (RRTS)network, began micro-tunneling strategy for energy diversion work at the under-construction Anand Vihar station on the upcoming 82.5 km long Delhi-Ghaziabad-Meerut local rapid rail passage.(Likewise Check Out: Alstom Starts Manufacturing Of Trains For India's 1st Quick Rail Corridor) Micro-tunnelling is an underground tunnel building method used for constructing smaller tunnels for energy diversion such as drainage pipelines, to minimise the public hassle caused during the building work, according to the National Capital Regional Transportation Corporation.The strategy allows free public movement in the area and is mainly adopted in places where footfall is high and trenching is not recommended as the extraction of debris triggers the blockage of passages restricting motion. It is likewise useful for preserving the existing infrastructure from any physical damage or alteration.The Anand Vihar station location on the upcoming RRTS corridor is one of the busiest commuter transit centers surrounded by a city station serving 2 metro lines, a train station, as well as two interstate bus terminals(ISBT)-one at Delhi side and the other one at the Kaushambi, Uttar Pradesh side.The Delhi-Meerut rapid rail-the nation's first local fast passage, will have an overall of 22 RRTS stations, out of which 4 will remain in the nationwide capital, consisting of the one at Anand Vihar. Once completely ready for services, the Delhi-Meerut rapid rail will lower the travel time in between Delhi and Meerut to simply 55 minutes.In the first stage of the regional fast transit system network in the national capital area, three concern passages will be implemented -Delhi-Ghaziabad-Meerut, Delhi-Gururgram-Rewari-Alwar, and Delhi-Sonipat-Panipat. These passages will converge at Delhi's Sarai Kale Khan RRTS station. Delhi-Ghaziabad-Meerut will be India's very first local fast rail which is targeted for conclusion by 20215. Its top priority area -the 17 km long Sahibabad-Duhai is likely to open for commuters by 2023.
Details
Category: Business

Write comment (100 Comments)


Sources in the Ministry of Area stated that 27 proposals from personal entities were received so far for undertaking numerous space activities in India ... Personal entities have showed interest in Indian area sectorAmid growing interest of huge ticket private entities in area market what with billionaires Richard Branson and Jeff Bezos having finished area odysseys in their personal spacecrafts, Federal government of India has received 27 propositions from the private sector for carrying out different space activities.Sources in the Ministry of Space stated that 27 proposals from private entities were received up until now for carrying out various area activities in India. The proposals include structure and introducing of launch lorries, along with structure, owning and operating satellites, offering satellites based services, developing ground sections, research collaborations and supplying mission services.With the area sector reforms, Indian private area market is slated to add to the core aspects of worldwide area economy - space-based services, launch services, manufacturing of launch cars and satellites, facility of ground sector and launch infrastructure - to a substantial degree, main sources said.Participation of private sector including academic organizations, start-ups and markets in end-to-end space activities is anticipated to expand the nationwide area economy, which will translate in higher job opportunity and boosted scope for manufacturing in the country, they added further.
Details
Category: Business

Write comment (93 Comments)

Jubilant FoodWorks Share Price: Share price of the food service company rallied 12 per cent to touch a 52-week high of Rs 3,449.90 after reporting a net profit of Rs 63 crore in Juen quarter...
Details
Category: Business

Write comment (97 Comments)


Civil Aviation Ministry formed 3 advisory groups comprising airline companies, airport operators, cargo carriers, ground handling companies, flying training organisations and maintenance, repair work and... The air travel sector was badly hit by the coronavirus pandemic's second waveThe Civil Aviation Ministry has actually formed 3 advisory groups consisting of airline companies, airport operators, freight carriers, ground handling companies, flying training organisations and maintenance, repair work and overhaul companies to ponder and fix challenges faced by the sector, according to an official declaration on Wednesday.The aviation sector was badly hit by the coronavirus pandemic's 2nd wave that swept the nation in April and Might. Numerous air travel stakeholders are not in a good financial shape currently. The ministry stated on Twitter: Under the chairmanship of the Honourable Minister of Civil Air Travel, Jyotiraditya Scindia, the Ministry of Civil Aviation (MoCA) has actually formed 3 advisory groups consisting of airlines, airport operators and MRO, freight providers, FTOs and ground handling companies. The groups will satisfy regularly to ponder upon problems and resolve difficulties facing each sector. Orders have actually been released for the very same, it added. The first advisory group makes up chiefs of all significant airlines in India-- Air India Chairman and Handling Director Rajiv Bansal, IndiGo Chairman Rahul Bhatia, SpiceJet Chairman Ajay Singh, Go First Director Ness Wadia, Vistara Chairman Bhaskar Bhat, AirAsia India CEO Sunil Bhaskaran, Alliance Air CEO Harpreet A De Singh.According to the Air travel Ministry's order on July 20, the first group would recommend the federal government on issues such as protecting the practicality of airlines, boosting the domestic and international connectivity, promotion of passenger and cargo services, workforce skilling in the aviation sector and advancement of India as a center for guest travel, cargo and MRO services.The second group consists of leading officials of major Indian airport operators-- Airports Authority of India Chairman Sanjeev Kumar, GMR Group Company Chairman G B S Raju, Adani Group Vice President Jeet Adani and Bangalore International Airport Limited Ceo Hari K Marar.Another Air travel Ministry's order specified that the second group would recommend the federal government on concerns consisting of boosting the airport capacity, facilities enhancement and modernisation, increasing traveler centers and amenities at airports and regulatory problems concerning airports.The 3rd advisory group would consist of four sub-groups: one each on MRO, ground handling, freight and FTO. Each of the sub-group would have 4 market executives as members who work in that specific industry.Scheduled domestic passenger traffic was suspended in India for about two months in between March 25 and Might 24 last year due to the coronavirus-induced lockdown. Because June 2020, the domestic traffic had actually been on a course of healing when the 2nd wave of the pandemic hit India during April and Might this year.
Details
Category: Business

Write comment (96 Comments)


Wealth management startup Tarrakki revealed a tactical partnership with financial investment platform Smallcase to use a long-lasting equity portfolio to users ... Established in 2018, the start-up - Tarrakki is a thorough wealth management platformWealth management start-up Tarrakki revealed a tactical collaboration with investment platform Smallcase on Thursday, July 22, to offer long-term equity portfolio to users. The collaboration will allow financiers to think about a well-diversified basket of stocks - thoroughly selected with a multi-cap and multi-sector method, according to a declaration shared by the SEBI registered financial investment advisor. The startup's collaboration with the Bangalore-based monetary technology business is likely to provide varied investment options to consumers. Tarrakki has actually streamlined and modernised the way to investment by offering an alternate option for investing directly in a customised design portfolio. This partnership with smallcase will help investors to smartly invest in a varied basket of stocks which will decrease the threats present in investing in a single company or a stock. The smallcase integration makes equity financial investments for the financiers simpler by extending the swimming pool of investment options any user has, said Mr. Saumya Shah, Founder, Tarrakki.So far, Tarrakki has cumulatively raised $225,000 in financing and deals with tier-I, tier-II, and tier-III cities across the nation. The crucial markets include West Bengal, Maharashtra, Delhi, and Gujarat. The platform offers more than 3,500 mutual funds from 42 possession management business. Smallcase is on a mission to alter how India invests by partnering with financiers, consultants, brokers and other market participants who are open to game-changing development. Partnering with an extensive wealth management platform like tarrakki is in line with this mission and will motivate Indians to invest more smartly by offering a substantial variety of investment choices that are qualitative and special, stated Vasanth Kamath, Founder - CEO, Smallcase Technologies Private Limited.Founded in 2018, the start-up - Tarrakki is an extensive wealth management platform that is designed to make investment basic and problem-free, especially for newbie financiers. The new-age innovation used by the individual financing platform permits its users to make regular, calculated investments in shared funds along with peer-to-peer loaning, based upon the person's goals, and other elements such as age group, income, and risk appetite.The start-up also supplies options to consumers and corporates, so that the MSMEs can effectively handle their operating capital requirement and surplus cash, according to its statement.
Details
Category: Business

Write comment (90 Comments)


The Centre is likely to receive monetary bids for its 100 per cent stake sale in Air India, by September 15, 2021 from certified interested bidders ... Government is most likely to get financial quotes for Air India stake sale by September 2021The Centre is likely to receive financial bids for its tactical disinvestment of 100 percent stake in the national provider Air India, by September 15, 2021 from certified interested bidders (QIBs). Minister of State for Civil Air Travel V K Singh informed Lok Sabha about this in a written response to a concern on the status of Air India's disinvestment process, on Thursday.The minister further notified the Lower House that the Civil Aviation Ministry had released the preliminary info memorandum for inviting Expression of Interest (EOI) for strategic disinvestment of Air India together with 100 per cent stake in Air India Express Ltd and 50 percent stake in Air India SATS, on January 27, 2020. Owing to the outbreak of Coronavirus pandemic, the last date for submission of EOI was often postponed and finally it was fixed for December 14, 2020, he stated in the reply.Subsequently numerous EoIs were received by the Deal Advisor , who assessed them for choice of QIBs. Request for Proposition (RFP) along with draft Share Purchase Arrangement (MEDSPA) were shared with QIBs by the Deal Advisor on March 30, 2021 for submission of financial bids, which are now most likely to be received by September 15, 2021. Mr Singh also notified Lok Sabha that a Unique Function Car (SPV) i.e. Air India Assets Holding Limited (AIAHL), has actually been setup inter-alia for warehousing non-core assets of Air India Limited.Monetisation profits of non-core possessions of Air India are to be used to offset the debt of Air India moved to AIAHL, he further said.
Details
Category: Business

Write comment (91 Comments)


In its memo, Infosys stated the nation's safety situation appears to be improving, with growing vaccination coverage ... Infosys stated it had been running in emergency situation mode for monthsOutsourcing giant Infosys Limited informed employees recently they might resume work from offices, according to a memo seen by Reuters that provides an early sign of the country's $190 billion innovation services sector relocating to get back on track.The Bengaluru-based IT services business stopped short of calling all employees back to work, showing broader caution throughout the sector as Indian officials warn about the looming danger of a third wave of COVID-19 infections.Still, after a terrible 2nd wave of infections in Might, the nation's everyday numbers are approximately a tenth of the peak, with infections falling to the most affordable in four months on Tuesday.Health professionals have actually interested state federal governments and people to not decrease their defend against COVID-19, saying a 3rd wave was inevitable.Other sectors such as air travel and production have needed to call some employees back to websites, or are staying closed totally as the pandemic interrupted travel and many states enforced lockdowns to curb increasing cases.In its memo, Infosys said the nation's security scenario seems to be enhancing, with growing vaccination coverage. Infosys did not respond to Reuters' request for comment on the memo.The business stated it had actually been operating in emergency mode for months however kept in mind that the circumstance in the country was now enhancing. We have actually been getting requests from particular accounts to permit their staff member to work from Infosys campuses. In addition, some of our employees have also been asking to come back and start working from workplace, as a personal preference. After reporting results recently, Infosys executives informed analysts that roughly 99 percent of its personnel was working from home, and the business would make efforts to get increasingly more individuals to come to office over the next couple of quarters.The government has actually introduced a campaign to immunize the country's roughly 950 million grownups by the end of the year. So far, practically nine percent of the adult population has been fully immunized with a mandatory second dose.But after a disastrous second wave in April and May that raised the number of deaths to more than 400,000, many business are holding off and concentrating on getting more employees vaccinated.The nation's software application services sector, which offers vital services for some of the world's most significant companies, including banks and retailers, struggled when the pandemic initially struck the country last year.Thousands of tech workers have grown comfy with working from house because and some supervisors in the sector independently say they are worried about their ability to get employees back on site if and when the situation improves.Tata Consultancy Providers Ltd, the nation's biggest outsourcer, said earlier this month that it wanted to vaccinate all its employees and their families by September. Recognizing that vaccination was our best option to an early return to normalcy, we undertook a pan-India vaccination drive that began in May, said Ceo Rajesh Gopinathan, adding that 70 percent of the business's personnel had actually been fully or partly immunized so far.Other companies such as Wipro have actually said they will wait until September to get staff back to work.(Except for the headline, this story has not been modified by TheIndianSubcontinent personnel and is released from a syndicated feed.)
Details
Category: Business

Write comment (99 Comments)

Government has approved the production linked incentive scheme (PLI) for speciality steel, which will run for five years....
Details
Category: Business

Write comment (91 Comments)


The day came from monetary and metal stocks, with Tech Mahindra, Bajaj Finance, Bajaj Finserv and Infosys were amongst the significant gainers on the BSE ...
Details
Category: Business

Write comment (98 Comments)


According to Finance Ministry figures, throughout 2020-21 an overall of 4,15,818 accounts were opened in Uttar Pradesh under Sukanya Samriddhi Yojana ... Uttar Pradesh led all states in opening maximum Sukanya Samriddhi Yojana accounts in 2020-21The popular long term financial investment plan for the woman child, Sukanya Samriddhi Yojana (SSY), which had actually rolled out in 2015 with the aim of offering moms and dads an opportunity to build a long term corpus which would be useful for funding the kid's education and career, has experienced a spurt amongst states throughout the nation in regards to opening of accounts. Uttar Pradesh, the nation's most populous state is presently holding the top spot as more than four lakh SSY accounts were opened there throughout 2020-21. According to Finance Ministry figures, throughout the fiscal year 2020-21 a total of 4,15,818 accounts were opened in Uttar Pradesh under SSY.After Uttar Pradesh, Karnataka and Rajasthan are the other two states which experienced opening of optimal variety of SSY savings account during 2020-21, according to main data.While 3,92,319 accounts were opened in Karnataka, in Rajasthan 3,55,195 SSY accounts were opened.Uttar Pradesh recording opening of such a large number of SSY accounts is a heartening development, thinking about the truth that its sex ratio was a bad 912 women for every 1,000 guys as per the 2011 census figures. The kid sex ratio was an abysmal 902 female child for every 1,000 male child.The same goes for Rajasthan too, which has actually seen a relatively substantial quantity of SSY bank accounts being opened throughout 2020-21. According to the 2011 census, sex ratio in Rajasthan was 928 ladies versus every 1,000 men. The kid sex ratio was worse as there were only 888 girls against 1,000 boys.Only Karnataka, which has recorded the second biggest variety of SSY accounts being opened, has a much better sex ratio of 973 ladies versus 1,000 men. The child sex ratio too is somewhat higher at 948 girls against 1,000 boys.The SSY account has to be mandatorily closed after 21 years of its opening and the optimum amount that can be deposited in it is Rs 1,50,000 each year.
Details
Category: Business

Write comment (94 Comments)