Page 2617 - Business Finance
Leap Green Energy to expand renewable power capacity to 2 GW by 2020
Clean energy generation firm Leap Green Energy Thursday said it looks to increase its power capacity to 2 GW from existing operational 751 MW and also plans fund infusion of USD 300 million. "Leap Green Energy Pvt Ltd (LGE), India's leading renewable power generation company, plans to increase its power capacity through opportunistic acquisitions and setting up green field projects," a statement said. The company is expecting to have an installed capacity of above 2 GW by FY2020, it said. The company currently has an operational capacity of 751 MW of wind assets and 400 MW of under construction wind assets. To meet capital requirements for expansion, the firm is planning a fund infusion to the tune of USD 300 million. The state electricity boards (SEBs) and various industrial and commercial corporate consumers form the prospective users of the produced power capacity, it added. The company intends this robust expansion encouraged by growing demand. Their reported revenue was Rs 525 ...
Stocks stage relief rally on value-buying; RIL leads recovery
Markets staged a strong comeback Thursday after six straight sessions of losses as investors accumulated recently hammered healthcare, energy and power stocks towards the fag-end even as the rupee breached the 72-level for the first time. The BSE Sensex rebounded 224.50 points to end at 38,242.81, while the broader Nifty gained 59.95 points to 11,536.90. Benchmarks largely benefited from value buying in beaten-down stocks lead by RIL and Sun Pharma, tracking a rebound in European shares in late-morning trade, traders said. The session was marked by high volatility and stock-specific action. The 30-share Sensex stayed choppy on alternate bouts of buying and selling and shuttled between 38,320.96 and 37,912.50. It finally ended 224.50 points or 0.59 per cent higher at 38,242.81. The index had lost 878.32 points in the previous six sessions as the rupee plunged to a record low amid a general flight of capital from emerging market assets. The broader NSE Nifty too reclaimed the key ...
Oil rises on weaker dollar, but demand doubts remain
LONDON (Reuters) - Oil rose on Thursday, encouraged by a weaker dollar and evidence of strong U.S. fuel demand, though demand prospects remain clouded by the turmoil engulfing emerging markets and an escalation in the U.S. trade dispute with China.
Kovind meets Bulgarian PM, invites companies to participate in 'Make in India' prog
President Ram Nath Kovind on Thursday met Bulgarian Prime Minister Boyko Borissov here and invited companies from the Balkan nation to manufacture in India as part of the ambitious 'Make in India' programme. Kovind arrived here on Tuesday from Cyprus on the second leg of his eight-day three-nation visit to Europe to continue India's high-level engagements with European countries. From Bulgaria, he will fly to Czech Republic. "President Kovind meets PM Borissov of Bulgaria; calls for stronger bilateral relations; invites Bulgarian companies to come and manufacture in India as part of the 'Make in India'programme," the President's Secretariat tweeted. The bilateral trade between India and Bulgaria stands at just over USD 300 million. Referring to the trade volume, Kovind on Wednesday said at the India-Bulgaria Business Forum, "This falls way below the potential. I am confident that a lot more can be done together if we drive deeper into each other's economies and look for prospects. I ..
Sayaji Industries sells its entire 40% stake in JV for USD 3.2 mn
The proceeds from the transaction is intended to be used for expansion and upgradation plans, and to strengthen company's balance sheet via reduction of debt.
Lemon Tree Hotels signs license agreement for property in Ranthambore
Carnation Hotel, the hotel management arm of the Company will be operating and marketing this Hotel.
Uflex develops Premium Lens Transfer Paper, Paperboard Using Fresnel Lens
This ready-to-print metalized lens transfer paper/paperboard, which shall be available in the market for clients from September first week onwards, can be registered as per the customer's design. The product boasts of not only being environment friendly but is also 100% biodegradable and decomposes in soil along with the main substrate of paper/board.
Housing Development Finance Corporation allots 4.56 lakh equity shares
On conversion of warrants and under ESOP
Market logs modest gains
Key benchmark indices logged modest gains in a volatile session of trade led by index heavyweights Reliance Industries and HDFC. The barometer index, the S&P BSE Sensex, gained 224.50 points or 0.59% at 38,242.81, as per the provisional closing data. The Nifty 50 index gained 59.95 points or 0.52% at 11,536.90, as per the provisional closing data. Pharma stocks were in demand.
Hinduja Global Solutions to generate 500 jobs in US
Hinduja Global Solutions (HGS), a global business process management major, on Thursday announced the opening of its first customer experience centre in the US state of Florida which is expected to generate nearly 500 jobs.
Sugar softens on ample stock, muted demand
Sugar saw a modest fall of up to Rs 10 per quintal in its prices at the wholesale market in the national capital following bumper stocks on persistent supplies from mills amid scattered buying by stockists and bulk consumers. Marketmen said the huge positions of stock in the market on record output coupled with limited buying by stockists and bulk consumers, such as soft-drink and ice-cream makers mainly pulled down sweetener prices. Sugar production is estimated to have touched a record 32 million tonnes in the 2017-18 season (October-September), as against 20.3 million tonnes in the previous year, while the demand is around 25 million tonnes, which put weighed on sugar prices. Sugar ready M-30 and S-30 prices closed lower by Rs 10 each to Rs 3,370-3,470 and Rs 3,360-3,460 per quintal. Mill delivery M-30 and S-30 prices also eased by Rs 10 each to finish the day at Rs 3,100-3,245 and Rs 3,090-3,235 per quintal. In the mill gate section, sugar Kinnoni, Asmoli, Budhana, Thanabhavan, ..
Fuel prices resume breaking records
Fuel prices, after a day's halt, resumed its northward march on Thursday with petrol being sold at Rs 79.51 per litre and diesel at Rs 71.55 per litre in the national capital breaking all previous record highs.
PM to inaugurate first Global Mobility Summit tomorrow
Prime Minister Narendra Modi will Friday inaugurate the first Global Mobility Summit - MOVE - which among other things will deliberate on steps to promote electric vehicles and shared mobility, according to an official statement. The two-day summit (September 7-8), being organised by Niti Aayog, will be attended by union ministers including Arun Jaitley, Nitin Gadkari, Piyush Goyal and Ravi Shankar Prasad, among others. The summit will deliberate on five themes including comprehensive: electrification and alternative fuels, reinventing public transport, goods transport and logistics and data analytics and mobility, the statement said. Representatives of companies including Mahindra Electric, Hero Cycles, Tata Motors, Tata Power, Ola, Maruti Suzuki, Honda, Toyota, Bosch, Sun Mobility will also participate in the summit, it added. Niti Aayog vice chairman Rajiv Kumar, while addressing a curtain-raiser press conference of the summit, said that India needs to make unified convergent ...
Trump trade threats bite into German factory orders
BERLIN (Reuters) - German industrial orders fell unexpectedly in July on weak foreign demand, data showed on Thursday, in a further sign that factories in Europe's largest economy are feeling the bite of U.S. President Donald Trump's protectionist trade policies.
China food startup Miss Fresh raises $450 mln in new funding round
HONG KONG (Reuters) - Miss Fresh, an e-commerce startup that delivers fresh produce in 20 Chinese cities, has raised $450 million from investors including Goldman Sachs and Tencent Holdings Ltd, the company's financial adviser said on Thursday.
Airtel Payments Bank enables card-less cash withdrawal at ATMs
Airtel Payment Bank, India's first payments bank, has announced that its customers can now make card-less cash withdrawals at over 100,000 ATMs across India.Airtel Payments Bank has partnered with Empays, a global provider of cloud based payment solutions, under which it will enable Airtel Payments Bank's savings account holders to withdraw cash using just their mobile phone through the card-less cash technology of Empays, called IMT (Instant Money Transfer).The technology can be used for self-withdrawal or for sending money to an intended recipient for ATM cash withdrawal."We believe in digital India. We are making this a reality by providing innovative digital solutions that enhance banking," said MD and Chief Executive Officer, Airtel Payments Bank, Anubrata Biswas."Our tie-up with Empays is an important step that enables our customers to realize digital, phone based cash withdrawals at over 100,000 ATMs, through either USSD or the MyAirtel App," added Biswas.Over 100,000 ATMs ...
Salary delay: Jet Airways' pilots warn of "non-cooperation"
With Jet Airways delaying salaries of its pilots and engineers for the second consecutive month amid a severe financial crunch, its pilots have warned the management of "non-cooperation" over default on payments. The Naresh Goyal-promoted private airline, in which UAE national carrier Etihad holds 24 per cent stake, is facing acute cash crunch after posting two back-to back quarterly losses this year. While its losses stood at Rs 1,036 crore in the March quarter, the losses jumped to Rs 1,300 crore RPT crore in the subsequent June quarter of the current fiscal. "Withholding salaries, that too without prior notice, is a serious matter and the management will bear sole responsibility for any repercussions," Jet Airways' pilots said in a communication to the management earlier this week. "We would like to advice that failure to address the above points and not paying the salaries on time would lead to non-cooperation by pilots," they warned. A Jet Airways' spokesperson said .
National Aluminium Company Ltd leads losers in 'A' group
Zee Entertainment Enterprises Ltd, Shriram Transport Finance Company Ltd, Shankara Building Products Ltd and GE T&D India Ltd are among the other losers in the BSE's 'A' group today, 06 September 2018.
Australia's big banks raise mortgage rates, risk political backlash
SYDNEY/BENGALURU (Reuters) - Two of Australia's biggest banks, Commonwealth Bank of Australia and Australia and New Zealand Banking Group, raised mortgage rates citing higher funding costs, cutting chances of an official rate hike and risking a political backlash.
Policybaazar eyes Rs 700 cr revenue in FY19
Insurance web aggregator Policybaazar.com is eyeing a revenue of Rs 700 crore in the current financial year, double of what achieved in the last fiscal. In the last fiscal, the company earned a revenue of Rs 350 crore, a company official said. "We are growing at a rapid pace and all the insurance companies including the LIC are on our platform. The expected revenue this fiscal is Rs 700 crore", head (communications) of Policybaazar Aman Dhall said Thursday. He said the other business vertical, paisabazaar.com, also a web aggregator for banking products, was gaining in strength and the revenue generated was expected to surpass that of Policybazaar in the next two to three years. Dhall said the company was luanching a new product similar to that of Practo, online doctors' directory. "Named Docprime, this new platform would be subscription-based OPD model where doctors' consultations can be availed of by giving a monthly fees," he said. He did not rule out the possibility of