Page 32 - Business Finance
IIFL HFL's Kutumb concludes Bengaluru chapter to encourage green housing
In its journey of being the change agent towards encouraging Green Affordable Housing in India, IIFL Home Finance Ltd (IIFL HFL) organized the 4th Chapter of KUTUMB - an initiative towards Green Affordable Housing at Bengaluru on 6 June 4, 2019.In its mission, IIFL HFL has been joined by Asian Development Bank (ADB), International Finance Corporation (IFC), CDC - a UK sovereign fund, Indian Green Building Council (IGBC), German Agency for International Cooperation (GIZ), Green Building Council of India (GBCI), Energy Efficient Services Ltd. (EESL), Ashok B Lall Architects and National Housing Bank (NHB).In the event held at Bengaluru International Center, the company managed to educate and enable more than 120 developersabout the benefits associated with developing green homes in the affordable housing segment in India.Part of the esteemed panel of speakers at the event included Srini Nagarajan (CDC), Ashok B Lall (Principal, Ashok B Lall Architects), Rajkumar Rakhra (EESL), V Suresh .
Birlasoft allots 5.72 lakh equity shares under ESOS
With this allotment, the paid-up capital of the Company has increased to Rs. 54,94,33,306/- divided into 27,47,16,653 equity shares of face value of Rs. 2/- each.
William Dalrymple's new book on rise of East India Company; to hit stands on September 10
Eminent historian and writer William Dalrymple is coming out with a new book, this time with the tale of the East India Company and how it became the first global corporate power by conquering an entire subcontinent. "The Anarchy: The Relentless Rise of the East India Company" will hit stands on September 10, publishers Bloomsbury have announced. Calling it Dalrymple's "most ambitious book to date", the publishers said the book discusses one of the most supreme acts of "corporate violence" in world history. "'The Anarchy' tells the remarkable story of how one of the world's most magnificent empires disintegrated and came to be replaced by a dangerously unregulated private company, based thousands of miles overseas and answerable only to its shareholders," Bloomsbury said in a statement. The award-winning author took to Twitter earlier this week to announce that the book would come in three different covers for the US, the UK and India, with "slightly different images and ...
EAC-PM releases detailed analysis on robustness of India's GDP estimation methodology
The Economic Advisory Council to the Prime Minister (EAC-PM) said on Wednesday that India's GDP estimation methodology is at par with its global standing as a responsible, transparent and well-managed economy.A detailed note titled 'GDP estimation in India: Perspectives and Facts' rubbished former Chief Economic Adviser Arvind Subramanian's claims that India's average annual growth between 2011-12 and 2016-17 may have been over-estimated by about 2.5 percentage points -- meaning that India actually grew at 4.5 per cent and not 7 per cent, between 2011-12 and 2016-17.The note said Subramanian cherry-picked a few indicators and performed a rather unconvincing regression analysis to prove his hypothesis that India's GDP was over-estimated post-2011-12.For instance, Subramanian's paper selectively ignores tax data based on the argument that the period post-2011-12 witnessed major changes in direct and indirect taxes.The note said Subramanian's analysis ended on March 31, 2017, while the ..
EAC-PM rejects Subramanian's claim on over-estimation of GDP
The Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday rejected the claims of former CEA Arvind Subramanian regarding over-estimation of GDP growth after 2011, saying his analysis ignores data on services and agriculture and shows blind trust in a private firm CMIE. In a paper released by EAC-PM, India's GDP estimation methodology stands at par with its global standing as a major and responsible economy. Primary contributors of the paper are economists Bibek Debroy, Rathin Roy, Surjit Bhalla, Charan Singh, Arvind Virmani. Last week, the advisory body had said it would issue a point-to-point rebuttal of the Subramanian's research paper. In a research paper, Subramanian, who stepped down last year, said India's economic growth rate has been overestimated by around 2.5 percentage points between 2011-12 and 2016-17 due to a change in methodology for calculating GDP. Subramanian's paper titled 'India's GDP Mis-estimation: Likelihood, Magnitudes, Mechanisms, and ...
Rajesh Exports bags Rs 942 cr order from Germany
Rajesh Exports Wednesday said it has has bagged an order worth Rs 942 crore from Germany to supply designer range of jewellery. The order is to be completed by August 2019, the company said in a regulatory filing. "I am confident that with this order and its successful execution, we would be looking forward for more such orders from other markets," Rajesh Exports Chairman Rajesh Mehta said. Rajesh Exports is the largest gold refiner in the world. It is a zero debt company on standalone basis with an annual sales of about USD 25 billion on a consolidated basis in 2018-19. Rajesh Exports processes 35 per cent of gold produced in the world. With the recent acquisition of Valcambi, the world's largest gold refinery at Switzerland, Rajesh Exports has built up a total capacity to refine 2,400 ton of precious metal per annum. It is the largest manufacturer of gold products in the world. Across its various manufacturing facilities, Rajesh Exports has a total installed capacity to manufacture .
Government consults small traders for e-commerce policy
India will not allow multi-brand retail by foreign companies and curb predatory pricing by them while supporting small traders and retailers to grow their business, Minister of Commerce and Industry Piyush Goyal said on Wednesday.However, bringing in greater controls through rules and laws will only help up to a certain point, he said. For a long-term gain, short term pain will have to be borne. India cannot remain in isolation and will be part of the global value chain to become a five trillion dollar economy in the next five years, said Goyal.He was holding a meeting with representatives of associations of 'kirana' stores, traders and retailers in the national capital. Ministers of State of Commerce and Industry Hardeep Singh Puri and Som Parkash were also present.Goyal urged small retailers and 'kirana' store owners to leverage modern technology and avail benefits of government schemes like Pradhan Mantri MUDRA Yojana to expand their business, spruce up shops, increase inventories .
Parsvnath Developers announces reaffirmation in credit ratings of subsidiary Parsvnath Rail Land Project
From Brickwork Ratings India
HPCL appoints Al Nabooda Automobiles as its UAE distributor
India's state-owned Hindustan Petroleum Corporation Limited (HPCL) has appointed Al Nabooda Automobiles as its UAE distributor, the petroleum giant has announced. Part of the diversified conglomerate Khalifa Juma al-Nabooda Group, al-Nabooda Automobiles has more than four decades of experience in the automotive sector and is the exclusive dealer for the Audi, Porsche and VW brands in Dubai and the Northern Emirates of UAE. Al Nabooda Automobiles was appointed by the HPCL through its 100 per cent subsidiary in the UAE HPCL Middle East, it was announced on Tuesday. Incorporated in 2018, HPCL Middle East FZCO is the UAE arm of the Indian Petroleum giant which is a market leader in the highly-competitive Indian lubricant market. The HPCL is a Global Fortune 500 Company grossing more than USD 35 billion in sales revenues and apart from its major fuel refineries, owns and operates the largest Lube Refinery in India. In the large Indian Lubricants market, the HPCL has consolidated its ...
Trent shares jump nearly 5 pc on fundraising plans
Shares of Trent rose nearly 5 per cent Wednesday after the company announced plans to raise up to Rs 1,550 crore in the current financial year through a combination of issuance of shares to its promoter Tata Sons on a preferential basis and other options, to fund its expansion. The scrip gained 4.62 per cent to close at Rs 414 on the BSE. During the day, it jumped 5.42 per cent to Rs 417.15. On the National Stock Exchange, shares climbed 4.71 per cent to close at Rs 415 apiece. "The board of directors at its meeting...approved issue of equity shares on a preferential basis to Tata Sons Pvt Ltd, promoter of the company, subject to such regulatory/ statutory approvals as may be required, including approval of the shareholders of the company," Trent Ltd said in a regulatory filing Tuesday. The company said total amount to be raised from issuance of shares to the promoter is about Rs 950 crore. Separately, Trent said, "Independent of the above issuance, the board of directors also ...
Board of Integra Telecommunication & Software approves change in directorate
At meeting held on 19 June 2019
Jet Airways shares dwindle further; tank 18.5 pc
Shares of Jet Airways further plummeted 18.5 per cent Wednesday after the consortium of bankers took the grounded airline to the NCLT. The scrip tanked 18.17 per cent to close at Rs 33.10 on the BSE. During the day, it dropped 28.18 per cent to hit an all-time low of Rs 29.05. On the NSE, shares of the airline plunged 18.51 per cent to close at Rs 33. This is the 13th consecutive trading day fall for Jet Airways, which has tumbled 78 per cent during this period. The consortium of 26 bankers led by the State Bank of India Tuesday took the airline to the National Company Law Tribunal (NCLT) to recover their dues of over Rs 8,500 crore. Jet Airways, started over 25 years ago, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes. The scrip has also been on back foot following announcement that stock exchanges will impose restrictions on trading in Jet Airways' shares from June 28 as part of preventive surveillance ..
Turnover rises in F&O segment
Indiabulls Housing Finance, State Bank of India and Reliance Industries most active
Quick Wrap: Nifty Pharma Index declines 1.60%
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IndiaMart's Rs 475-cr IPO to open on June 24; price band fixed at Rs 970973 per share
IndiaMart InterMesh, an online marketplace for business products and services, Wednesday said it will launch its initial public offering from June 24 and has fixed a price band of Rs 970973 per share. The initial public offering (IPO) is of up to 48,87,862 equity shares, according to a statement by the company. Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue, while investors Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius will offload 33,20,753 shares and 1,37,000 equity shares by other selling shareholders, it added. At the upper end of the price band, the offer is expected to raise about Rs 475 crore. The issue will open on June 24 and would close on June 26. ICICI Securities, Edelweiss Financial Services and Jefferies India are the book running lead manager to the offer, it said. The equity shares of IndiaMart InterMesh are proposed to be listed on the BSE and the National Stock ...
Renault unveils Triber globally in India
French auto major Renault Wednesday made its global unveil of its compact multi-purpose vehicle Triber here in India, where it aims to double total sales by 2022. Renault Triber is the outcome of a joint project between Renault teams in India and France and is the world's first vehicle specifically designed for the Indian market, the company said. "India is a key market for Groupe Renault. We are still young to India, yet our ambitions are high in line with our 'Drive the Future' strategic plan: we aim at doubling our sales by 2022," Groupe Renault Chief Executive Officer Thierry Bollor told reporters here. He further said, "For that reason, we are bringing Renault Triber, another breakthrough concept, targeted for India's core market." The compact multi-purpose vehicle (MPV) has been conceived, developed and produced in India, for Indian customers first, before it is taken to the world, Bollor said. "It is a real game-changer," he said. Renault said it is aiming to double the sales ..
Jubilant FoodWorks appoints director
With effect from 21 June 2019
EdgeVerve Product TradeEdge Receives POI Best-in-Class Award for Distributor Management
/ -- EdgeVerve Systems, today announced that TradeEdge has been awarded the 'POI Best-in-Class Award for Distributor Management' by Promotion Optimization Institute which published the '2019 Vendor Panorama for Retail Execution and Monitoring (RetX) in Consumer Goods'. TradeEdge provides insights from distributors and retailers across the demand value chain to accelerate growth in emerging as well as developed markets. It is a cloud-based solution that enables brands gain maximum channel visibility, new distributors, improve retail execution and reach new markets faster. TradeEdge provides visibility to over $65 billion in revenues to top 25 CPG companies from across 5000+ channel partners globally. RetX Panorama Survey Report is designed to help consumer goods companies and their distribution channel partners execute at an individual store level. It helps consumer goods companies ensure availability of products, efficient merchandising and effective promotions enabling customers to ..
Blue Star bags order worth Rs 252 cr from Mumbai Metro Rail Corporation
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Bharat Heavy Electricals commissions Chhukha Unit-1 in Bhutan
Unit-3 of the same project, built on the Chhukha River, Bhutan, was earlier commissioned by BHEL, after successful R&M last year and has been running efficiently since. With the commissioning of Unit-1, BHEL has successfully executed the R&M contract for 2 units (Units-1&3), thereby consolidating its position further in Bhutan and rising up to the expectations of the customer, Druk Green Power Corporation (DGPC), Bhutan.