Page 1571 - Business Finance

TiE Mumbai Welcomes SEBI's new Startup Listing Reforms

/ -- In a major push to kickstart the listing of startups in India in a big way, the markets regulator, SEBI, has relaxed the norms for new-age startups in sectors like e-commerce, data analytics and biotechnology to raise funds and get their shares listed and traded on the stock exchanges. As a significant contributor to the promotion, mentoring, helping and funding of startups in this region, TiE Mumbai greatly lauds this decision and views this as a positive move in further facilitating entrepreneurship and the ecosystem in the nation. TiE Mumbai has committed to work with various stakeholders, especially the government and regulators and help in policy forming thereby playing a significant role in the mission of Startup India and supporting growing entrepreneurs and their businesses. TiE Mumbai along with various stake holders and ecosystem partners have been in talks with SEBI and Stock Exchanges to have the right platform for the startups to get listed and raise funds. As a ...

Co-working operators to lease 7-9 mn sq ft space by 2020 from over 5 mn sq ft this yr: CBRE

With rising demand for shared office space, co-working operators are expected to lease about 7-9 million sq ft by 2020 from over 5 million sq ft estimated this year, according to property consultant CBRE. "Originating as a shared service for start-ups, flexible spaces are now being utilized by established corporates as well to make their portfolios more agile amid a dynamic business environment. "Given that the Indian flexible space market is one of the biggest across APAC, we anticipate that this segment will remain high on the investor radar as well," Anshuman Magazine, Chairman, India and South-East Asia, CBRE, said in a report. He said the leasing quantum of this segment is expected to rise from about 5.4 million sq ft in 2018 to 7-9 million sq ft by 2020. The CBRE report further highlighted that the overall stock of flexible space market in India (including seven Indian cities) increased by about 50 per cent, from almost 10 million sq ft in 2017 to about 15 million sq ft by Q3 ...

IOC to buy back 3 pc equity shares for Rs 4,435 cr

State-owned Indian Oil Corp (IOC) Thursday said its board has approved buyback of 3.06 per cent of equity shares for Rs 4,435 crore. IOC will buy back 29.76 crore shares at Rs 149 apiece, the company said in a regulatory filing. The company board also recommended an interim dividend of 67.5 per cent (Rs 6.75 per share) for the 2018-19 fiscal.

Yes Bank says on track to find CEO within RBI deadline

(Reuters) - India's Yes Bank Ltd said it was on track to find a new chief executive officer within the central bank's Feb. 1 deadline, but the lender's shares fell sharply as the market was expecting some clarity at its board meeting on Thursday.

'Auto part firms' capex may be at Rs 24k cr over FY19 & FY20'

The capital expenditure by the domestic automotive component manufacturers is likely to be high at around Rs 24,000 crore over fiscals 2019 and 2020, to meet tightening regulations, R&D requirements and capacity expansion, rating agency Crisil said Thursday. It noted that capex continues to be substantial, as it represents close to 20 per cent of the existing investment in fixed assets by component manufacturers. To meet regulations and demand, the agency expects capex spend by vehicle makers to rise 30 per cent over fiscals 2019 and 2020, compared with the preceding two fiscals. It added that component makers will also have to ramp up on investments in product development, and acquire technology faster than before, in order to remain relevant. "Strong balance sheets and a recovery in business prospects in fiscal 2020 will help firms absorb the investments without materially affecting their credit risk profiles," it said. The agency said that an analysis of around 225

TVS Motor rolls out 50,000 unit of BMW 310cc series bike

TVS Motor Company Thursday said it has crossed 50,000 production milestone for BMW 310 cc series bikes in less than two years after rolling out the first unit of the range from its Hosur plant. In April 2013, TVS Motor Company and BMW Motorrad signed a long-term strategic partnership to manufacture sub-500cc motorcycles for the global markets. This collaboration has resulted in the launch of three products on the 310cc platform namely BMW G 310 R, BMW 310 GS and TVS Motor Company's TVS Apache RR 310. "Over the course of this six-year partnership, we have had an opportunity to create a common learning platform for both the companies resulting in the creation of aspirational products for the global market," TVS Motor Company Director and CEO KN Radhakrishnan said in a statement. It is heartening to see BMW's foray into sub 500cc segment meet with positive response across the globe, he added. "In them (TVS), we found a perfect partner who have always stood for high quality and ...

Consumer Brand 'Casio' Conducts Awareness and Anti-counterfeit Drives

/ -- Casio, a leading consumer brand in the country, is aggressively running awareness drives to fight the counterfeit markets in India and to educate customers about genuine Casio products. Casio India is advising the consumers to register their products at https://register.casio.in/Home.aspx. This helps to acknowledge the originality of Casio product and also seamlessly gives access to warranty service to the consumer. The brand is continuously advising consumers to purchase Casio products only from authorized retail partners, modern retail outlets and official online channel partners. The list of brand's authorized online channel partners is available at https://www.casio-intl.com/in/en/news/2015/BewareofFakeCasioCalculatorswhenpurchasingonline/ . Consumers can visit www.casio.co.in or contact Casio India on casiocare@casio.co.in for more information on its official channel partners. Continuing its drive to curb the sale of fake Casio products in the market, Casio carried out a ...

IDFC Bank gets NCLT approval for composite scheme of amalgamation

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NIIT Technologies gets NCLT approval for scheme of amalgamation

The Scheme shall come into effect, upon filing of certified true copy of the order with the Registrar of Companies.

Vehicle sharing firm Drivezy adds 10,000 bikes to its fleet

Vehicle sharing marketplace Drivezy Thursday said it has added 10,000 bikes on the platform, and plans to launch them across Bengaluru, Hyderabad, Mysore, Mangalore and Manipal. Founded in 2015, Bengaluru-based Drivezy offers car, motorcycle and scooter sharing services across nine cities in the country. The company recently announced a USD 20 million Series B funding and a USD 100 million asset financing deal with Anypay, under which it will induct over 50,000 vehicles. "The induction of new fleet will bolster the company's position as market leader in the growing Indian vehicle sharing segment," Drivezy said in a statement. Over the last one year, the company has enlisted more than 4,000 two-wheelers in a bid to expand footprint across the nation. With the addition of the new fleet, the company now plans to launch a one-way two-wheeler rental service that will allow customers to rent a scooter or a motorcycle from a location and drop it at any other company location as per their ...

Indian Foodservice industry to reach Rs 5,52,000 crore by 2022 with a 10% growth

Speaking at FICCI's Foodzania 2018 - The Food Service Retail Conference on the theme of 'Changing Landscape of the Food Service Retail Industry', Mr Unnat Varma, Chairman - FICCI Task Force on Food Service Retail and MD - Pizza Hut India Sub Continentsaid that the Indian food service industry is at the cusp of a massive growth. He further added that the changing landscape of the food service retail industry is largely driven by the changing consumer behaviour which can lead the sector for a sustained double digit growth over a decade. "There is a huge consumer market, changing consumer habits, increase in disposable income, and as the industry has evolved, it has become bigger and better," said Mr Varma.

India has 'multi-pronged' approach to strengthen trade ties with Myanmar: Kovind

India has a "multi-pronged" approach to strengthen its economic and commercial relations with Myanmar, President Ram Nath Kovind said Thursday, as he urged the two countries to learn and leverage from each other's competencies. Kovind, who is in Myanmar to pursue India's high-level bilateral engagements under the rubric of the 'Act East' and the 'Neighbourhood First' policies, inaugurated the Fifth 'Enterprise India Show' here. Myanmar Vice President U Myint Swe interacted with the leading Myanmarese businesses and over 50 Indian companies, from globally reputed majors to small and medium-sized enterprises engaged in cutting-edge manufacturing. Kovind said Myanmar and India are close neighbours with an abiding friendship, according to a statement by the Ministry of External Affairs. "Our trade and investment partnership, however, at present, is modest. But we both remain deeply committed to bring them up to steam. Opportunities before us are many and multiple to expand trade, forge ..

World stocks wait for ECB signals, pound strong after Brexit drama

LONDON (Reuters) - Santa delivered his traditional end of year rally on Thursday as world stocks made a third day of gains and the pound and the euro both stayed strong after the latest bout of Brexit drama.

Petrol prices increase after 2 months

After declining for nearly two months, petrol prices rose marginally on Thursday across three of the four metro cities in the country.

Soybean futures up on spot demand

Soybean prices rose by Rs 11 to Rs 3,431 per quintal in futures trade Thursday as speculators enlarged their positions supported by a strong spot demand. Tight arrivals from the producing regions further influenced the prices. At the National Commodity and Derivatives Exchange, soybean for the most-traded delivery in February was up by Rs 11, or 1.39 per cent, to Rs 3,431 per quintal. Soybean for delivery in March 2019, also jumped by Rs 15, or 0.43 per cent, to Rs 3,470 per quintal. Marketmen said fresh positions created by participants following upsurge in domestic demand pushed up soybean prices in futures trade here.

Sowparnika celebrates 15 successful years

Sowparnika Projects and Infrastructure Pvt. Ltd., a leading real estate brand, has hit a milestone of completing 15 years of its business across South India.Sowparnika started with an aim to deliver happiness, fifteen years ago, and in the course of this journey it has helped many home buyers realise their dreams. Committed to providing quality housing, Sowparnika Projects, today, has 6,000+ satisfied customers, 35+ completed projects, 30+ ongoing projects, 50+ lakh sq. ft. developed, 50+ lakh sq. ft. under development and a strong presence in three states namely, Karnataka, Tamil Nadu and Kerala.Sowparnika keeps customer satisfaction as it's priority. This is done through their belief and practice excellence in the execution of the work done, at every step.In the year 2003, Sowparnika ventured into the real estate industry, at a time when there was no systematic process involved in building a house and the services being offered to the home buyers were not upto the mark. Sowparnika ..

Toss Group enters E-comm business, launches tossclick.com

The group has federation of companies under one brand called Toss Group. Toss Group came into existence in the year June 2013 under the leadership of Surendra.His goal and vision is to satisfy consumer needs and thus he started his first company called, Toss Builders Pvt. Ltd. which is a construction group providing dream houses to people in Uttar Pradesh.As the years passed Surendra started many other service oriented companies which serving the people. The companies which he started are - Mts Mutual Benefit Nidhi Ltd. providing loan against mortgage and investing in debt funds, TossVision Micro Finance Foundation which is providing micro loans starting from Five Thousand to Fifty Thousand. Toss Group also started, Toss Survey and Consultant Pvt. Ltd. which acts as legal consultants. Under the leadership of Mr. Surendra the top priority of the group is customer satisfaction.Today more and more people are opting for e-commerce, with the same thought Ms. Shashi Prabha CEO of ...

Oil prices steady as China-U.S. trade tensions ease

LONDON (Reuters) - Oil prices steadied on Thursday, under pressure from high inventories but buoyed by a drawdown in U.S. crude stockpiles and indications that the trade war between the United States and China may be easing.

China to keep 2019 growth within reasonable range: politburo

BEIJING (Reuters) - China will keep its economic growth within a reasonable range next year, striving to support jobs, trade and investment while pushing reforms and curbing risks, the country's top decision-making body of the Communist Party, the politburo, said on Thursday.

Infibeam gains as board to evaluate growth opportunities

Infibeam Avenues rose 1.61% to Rs 47.40 at 15:09 IST on BSE after the company scheduled a board meeting on 17 December 2018 to consider strategic growth opportunities of the business verticals and subsidiaries of the company.