Page 1752 - Business Finance
Nissan board votes to oust Ghosn as chairman - NHK
TOKYO (Reuters) - Nissan Motor's board voted on Thursday to oust Carlos Ghosn from his post as chairman following his shock arrest this week, public broadcaster NHK reported, marking the stunning downfall of the executive once hailed as the saviour of the Japanese automaker.
Rupee depreciation adding pressure on pricing: Xiaomi
Xiaomi Thursday said rupee's slide against the US dollar is adding to pricing pressure for the Chinese tech major in India, particularly in the handset market that is witnessing stiff competition. Xiaomi, earlier this month, hiked prices of two of its handsets Redmi 6 and Redmi 6A as well as that of power banks and some television sets on account of the depreciation of the rupee against the greenback. "The rupee has depreciated by about 15 per cent since the beginning of the year. While we do make our phones and power banks in India but raw material and PCBA (printed circuit board assembly) is bought in dollars. "This (depreciation) is adding pressure on us... we want to continue to offer 'honest' pricing to customers," Xiaomi Vice-President and India Managing Director Manu Jain told reporters here. To offset the impact, prices of various products were raised ranging from Rs 100 to Rs 2,000 with effect from November 11. In April this year, Xiaomi founder and CEO Lei Jun had said the ..
Quick Wrap: Nifty Metal Index declines 1.77%
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Mahindra & Mahindra Financial Services to raise Rs 135.60 crore
Through allotment of NCDs
Board of AU Small Finance Bank approves capital raising up to Rs 500 cr
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RCB Digital Wallet to be powered by EdgeVerve Systems
ProximityPayEdge supports multiple card schemes and can be used for any channel that accepts NFCbased payments. This solution was chosen for its ease of use, flexibility of deployment, and its end-to-end security features.
Pennar Group bags orders worth Rs 317 crore
Pennar Industries received multiple orders aggregating Rs 190 crore across its business verticals such as railways, tubes and industrial components. These orders were received from PIL's long standing customers including Solis Engineering, JM Infratech, IFB, Ashok Leyland, Tecumseh, Wabco, Mahindra, Salem Steel, etc.
JSW Steel implements TQM at Vijayanagar Works unit
In October 2018, JSW Steel's Vijayanagar Works unit in Karnataka was awarded the highest global quality honour, The Deming Prize, for its TQM practices. The company now intends to implement TQM across all its steel manufacturing units. TQM implementation at its Salem Works in Tamilnadu is on track and its implementation at Dolvi Works in Maharastra is expected to be completed by 2020
Indoco Remedies gets revision in credit ratings from ICRA
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GAIL (India) to serve as feeder source for natural gas supply to proposed city gas projects
At Deoghar, Sheikhpura and Jamui districts
Kakinada Gateway Port signs concession agreement for development of commercial port
The concession has been awarded with a concession fee of 2.7% of revenue share in the first 30 years of COD, 5.4% of revenue share in the years 31 to 40 and 10.8% revenue share in the years 41 to 50. The Port would be developed in an area of approx. 1811 acres owned by KSEZ.
ITC allots 13.47 lakh equity shares
Under ESOS
Tech outflows biggest since 2015; investors pile into safer sectors - BAML
(Reuters) - Redemptions from technology stocks totalled $1.5 billion in the past week, the biggest since February 2015, Bank of America Merrill Lynch said on Thursday, citing data from EPFR Global.
Germany submits final feasibility report for bullet train
Germany on Thursday submitted its final feasibility report for the 435-km high speed rail (bullet train) corridor between Mysore-Bengaluru-Chennai to the Indian Railways.
Indoco Remedies shares soar 20%
Shares of Indoco Remedies Thursday surged 20 per cent after two of the company's Goa plants cleared an USFDA inspection. Drug firm Indoco Remedies has received two minor observations from the US health regulator for its Goa-based two plants. The stock zoomed 20 per cent to settle at Rs 206.40 on the BSE. On the NSE, shares of the company soared 20 per cent to end at Rs 200.40. The US Food and Drug Administration (USFDA) inspected the manufacturing facilities between November 14-21. "The inspection concluded with the company receiving two minor observations, none of which are repeat in nature," Indoco Remedies said in a regulatory filing. "This positive development will now pave the way for approval of our pending (abbreviated new drug application) ANDAs with consequent boost to revenues from the US market," Indoco Remedies Managing Director Aditi Kare Panandikar said. The company is in the process of responding to the observations within the stipulated time of 15 days. The ...
Alliances Galore, Axis Bank host 4th edition of Gourmet Fest
Alliances Galore is hosting the 4th edition of 'Gourmet Fest' in partnership with Axis Bank. The Bank's cardholders can now enjoy the specially curated menus by the chefs of over 150 leading restaurants across 7 cities such as Delhi NCR, Mumbai, Bengaluru, Kolkata, Hyderabad, Chennai and Pune.The Gourmet Fest is a Fine Dining experience exclusively curated for the Axis Bank cardholders and will offer them specially designed pre-fixe menus across 150 restaurants at special prices of Rs. 799 per person at Five Star hotels and Rs. 599 per person at premium standard restaurants.The Gourmet Fest campaign is available from November 23rd to December 9th, 2018.With the launch of Gourmet Fest, this year Alliance Galore will be celebrating its 10 years anniversary. Over the last decade, the company has partnered with over 50k merchants in 12 countries and has been closely working with the Cards, Wallets, Telecom, Automobile companies to create strong offer based platforms for constant customer .
Oil major Total to buy Brazil's Grupo Zema distribution business
PARIS (Reuters) - French energy group Total has agreed to buy for an undisclosed amount the distribution business of Brazil's Grupo Zema, in order to expand in Brazil and in the biofuels sector.
Sensex drops below 35,000
Stocks registered modest losses in volatile trade weighed by slide in ICICI Bank, Reliance Industries and HDFC Bank. The barometer index, the S&P BSE Sensex, lost 218.78 points or 0.62% at 34,981.02, as per the provisional closing data. The Nifty 50 index lost 73.30 points or 0.69% at 10,526.75, as per the provisional closing data. The Sensex dropped below the psychological 35,000 level in late trade.
CCI seeks public comments on proposed Schneider-L&T deal
The CCI Thursday sought public views on proposed acquisition of L&T's electrical and automation business by Schneider Electric and MacRitchie Investments, after finding that the deal may adversely impact competition. Besides, the competition watchdog has asked the "acquirers (Schneider Electric and MacRitchie Investments) to publish details of the combination for bringing the same to the knowledge and information of public and persons affected or likely to be affected by such acquisition," as per a CCI release. MacRitchie is a Singapore-based investment holding firm and an subsidiary of Temasek Holdings. The proposed combination excludes the marine business unit and Servowatch Ltd, which are also part of Larsen & Toubro's (L&T's) electrical and automation' business, the release added. Under the Competition Act, the regulator can seek public comments on mergers and acquisitions wherein it has a prima-facie opinion that such a deal could adversely affect competition in the ..