Page 1593 - Business Finance
Zydus Wellness gets CCI approval for acquisition of Heinz India
ZWL will primarily be acquiring the business related to the four brands GluconD, Nycil, Sampriti and Complan, through this transaction. Of these, Complan, GluconD & Nycil have a legacy of over 50 years and Glucon-D & Nycil are leading brands in their respective markets.
Tata Motors drives in top of the line Tiago variant
Tata Motors Tuesday said it has launched top of the line variant of its entry level model Tiago priced between Rs 5.57-6.38 lakh (ex-showroom Delhi). The petrol variants of the Tiago XZ+ are priced at Rs 5.57 lakh and Rs 5.64 lakh while the diesel trims are tagged at Rs 6.31 lakh and Rs 6.38 lakh. "Offering features and styling from a segment above, we are confident that XZ+ will be much loved by customers and will further help expand our market share and support in the journey to win sustainably in the PV business," Tata Motors Passenger Vehicles Business Unit VP Sales, Marketing & Customer Support S N Barman said in a statement.
Titan Company gets revision in credit ratings from CRISIL
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Shanktikanta Das named new RBI Governor
Former bureaucrat Shaktikanta Das on Tuesday was appointed the new governor of the Reserve Bank of India, a government statement said. Das, who retired as Economic Affairs Secretary in May 2017, has been appointed for a term of three years. He replaces Urjit Patel, who surprisingly resigned from the central bank Monday.
India Inc's overseas direct investment drops 35 pc to USD 1.05 bn in Nov
India Inc's overseas investment fell 35 per cent over the year to USD 1.05 billion in November, data from the Reserve Bank showed Tuesday. Indian firms had invested USD 1.62 billion in their foreign ventures in November 2017. In October this year, overseas investment by Indian companies stood at USD 1.96 billion. Of the total investment in November, USD 447.52 million was infused as equity, USD 216.91 million as loan and rest of USD 384.71 million was in the form of issuance of guarantee, according to the RBI data on Outward Foreign Direct Investment (OFDI). Among the major investors were Bank of Baroda, which infused USD 190.39 million in its UK subsidiary Bank of Baroda (UK) Ltd; Vedanta Ltd USD (172.50 million in its Mauritius-based wholly owned subsidiary), GMR Airports (USD 82.37 million in the Netherlands) and Sterling and Wilson (USD 48.70 million in the UAE). ONGC Videsh invested a total of USD 39.50 million in various joint ventures in Myanmar, Russia and Vietnam, as per the .
Oil rises thanks to stronger equities, Libyan supply outage
LONDON (Reuters) - Oil rose on Tuesday, recouping some of the previous day's hefty losses as a modest show of strength in global stocks, a slightly weaker dollar and an unplanned supply outage in OPEC member Libya lent support.
BJP loses vote share big time, but not all to Congress
With the BJP suffering losses in three key states, its vote share has taken a sharp dip in Chattisgarh, Rajasthan and Madhya Pradesh since the last assembly elections in 2013, but all these votes do not seem to have gone to the Congress alone as other players have also reaped the gains. The vote share loss is even bigger for the saffron party since the 2014 Lok Sabha elections, in which it had virtually swept all the three states by winning 62 out of 65 seats, as per the Election Commission data. In Telanagana and Mizoram, it is the regional parties who have come out with flying colours, a post-2014 trend clearly visible in many states with sizeable presence of non-BJP and non-Congress parties. Political pundits said this trend indicates that the regional satraps might play key roles in 2019 general elections for which attempts are already underway by non-BJP parties to put a united front against Prime Minister Narendra Modi's bid for a second term. For Chattisgarh, the latest data ...
China moves on U.S. car tariff cut - Bloomberg
(Reuters) - China is moving to cut import tariffs on American-made cars, a step which was brandished by President Donald Trump as a concession won during trade talks in Argentina, Bloomberg News reported on Tuesday citing people familiar with the matter.
Saudi banks close to deal with authorities on Islamic tax: sources
DUBAI/RIYADH (Reuters) - Saudi Arabian banks are expected to reach a deal with Islamic tax authorities before the end of the year to resolve a dispute over increased liabilities, banking sources say.
Bengal Chemicals gets excellent governance rating again
City-based central PSU Bengal Chemicals and Pharmaceuticals Limited (BCPL) has received excellent corporate governance rating from the Department of Public Enterprises for three years in a row, the oldest pharma company in the country said Tuesday. Out of 13 PSUs which falls under the Department of Pharmaceuticals, BCPL is the only one which has been awarded the Excellent Corporate Governance Rating for the year 2017-18, it said. The company received excellent rating during 2015-16, 2016-17 and 2017-18. The company said in a statement thet under the stewardship of PM Chandraiah, director (finance) holding additional charge of managing director, performance has improved from poor corporate governance rating in 2013-14 to excellent from 2015-16 onwards. In 2016-17, the company reported a net profit of Rs 4.51 crore while it rose to Rs 10.06 crore in 2017-18. The company estimates a turnover of Rs 105 crore in 2018-19, with net profit in the Rs 15-20 crore range.
Norway's Vipps signs payment deal with China's Alipay
OSLO (Reuters) - Norwegian payment firm Vipps has signed a deal with China's Alipay to expand its payment solutions, a Vipps spokeswoman said on Tuesday.
DNIF Wins 'Security Product Company of the Year' Award at DSCI Excellence Awards 2018
/ -- Organized annually by NASSCOM's Data Security Council of India (DSCI), DSCI Excellence Awards is the country's most coveted security awards that recognize leading innovations in the cyber security sector The NASSCOM-DSCI excellence awards are held annually at the Annual Information Security Summit (AISS) to recognize, honor and reward organizations for the exemplary work carried out in the field of security and privacy, and reward visionary leaders and products in the space. (Logo: https://mma.prnewswire.com/media/796709/DNIF_Logo.jpg ) DNIF, a product launched by NETMONASTERY in 2015, won the award in the 'Security Product Company of the Year' category. This award is presented to companies that have developed futuristic and innovative cyber security products that address real risks, build resilience, increase trustworthiness and create a conducive environment for businesses; thus, enabling organizations to harness security as a lever for business growth. The Jury panel for this
38 pc British firms made new investments in India in 2017: Report
Close to two fifths (38 per cent) of British companies made new investments in India in 2017 and created 51,188 new private sector jobs from 2016 to 2018 -- a 14 per cent rise over the previous 18 months, according to a report released Tuesday. The 'Sterling Assets: Britain Meets India' report revealed that the UK has strengthened its investments in India to become the largest single western investor, while British companies have created over 422,000 jobs in India since the turn of the century. Between 2000 and 2018, total FDI which flowed into India from all channels from the UK is estimated at USD 50.57 billion. Of this, the UK directly invested USD 26.09 billion in India -- increasing its investment by USD 847 million between 2017 and 2018 -- representing 7 per cent of all foreign direct investment (FDI) into the country, a release said. "Close to two fifths (38 per cent) of British companies made new investments in India in 2017. The UK is the fourth largest investor in India and .
OEMs to verify authorised vendors at govt's e-mkt platform
Over 100 original equipment manufacturers (OEMs) from various sectors have been asked to verify vendors that are willing to sell goods at the government e-Marketplace (GeM) with a view to contain procurement of fake and counterfeit goods. GeM is an online platform of the commerce ministry for procurement of goods and services by public sector units, departments and states. Concerns have been raised by certain firms about sale of fake and counterfeit goods at this platform. Large number of complaints have been recorded from sectors, including IT hardware, furniture and automobiles. "We have joined hands with industry associations including CII, PHDCCI and Nasscom. We have given access to the member companies to this online platform. They will verify whether vendors selling products from their sector are authorised dealers or not," GeM Chief Executive Officer Radha Chauhan told reporters here Tuesday. She said it will help in stopping sale of fake and counterfeit goods at this ...
Reliance Industries allots NCDs aggregating Rs 5500 crore
On private placement basis
Wipro launches Automotive Innovation Center in Detroit
Wipro's new Automotive Innovation Center will develop and showcase cutting-edge solutions that leverage artificial intelligence, analytics, Industrial Internet of Things (IIOT), cloud and crowd sourcing. The hub will evangelize connected vehicle technologies with In-vehicle Human Machine Interface (HMI), on-board sensor data management, big data insights and end-user mobile apps for delivering personalized driving / mobility experiences.
Indian markets stage sharp recovery after early slide, aided by vote results
MUMBAI/BANGALORE (Reuters) - Indian bonds and stocks rebounded after early falls on Tuesday to end stronger while the rupee recovered from the day's low as state election results were not as poor for the ruling party as some expected.
India's fuel demand fell 1.8 percent year on year in November
NEW DELHI, Dec 11 (Reuters) - India's fuel demand fell 1.8 percent in November compared with the same month last year.
Analysis: As India looks for new RBI head, investors worry about independence
MUMBAI/NEW DELHI (Reuters) - Reserve Bank of India (RBI) Governor Urjit Patel's shock resignation following a policy tussle with the government sent tremors through financial markets on Tuesday, and investors are keen to see the government quickly name a credible replacement.
Yes Bank jumps 8% ahead of board meeting
Shares of Yes Bank jumped around 8 per cent Tuesday ahead of its board meeting where it will recommend names for new chairman for approval by the Reserve Bank. The stocks of private lender surged 7.59 per cent to end at Rs 177.40 on the BSE. Intra-day it touched high of Rs 179.70, a jump of 8.89 per cent. Besides, it was biggest gainer in Sensex pack. On the NSE, the stock rose 8.09 per cent to close at Rs 179.05 before touching a high of Rs 179.85 intra-day. In terms of volume, a total of 81.53 lakh units were traded on the BSE, while over 8.51 crore shares changed hands on the NSE. Last month, Yes Bank said its board on December 13 will recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors. During the meetings, they would consider proposals for appointment of independent directors and also recommend name(s) of the new chairman for approval of the RBI. The private sector lender, which is grappling with governance as well ..