Page 672 - Business Finance
Bharti Airtel simplifies tariffs for Bangladesh and Nepal
The new ISO call charges, which are currently available to Airtel prepaid mobile users, are the most affordable in the industry and eliminate the need for buying additional ISO packs to make calls to Bangladesh and Nepal. Airtel mobile customers can now enjoy the most competitive ISO tariffs with their regular recharge packs and bundles.
DLF launches QIP to raise over Rs 3,000 cr
Realty major DLF Monday launched its QIP offer to raise over Rs 3,000 crore by selling 17.3 crore equity shares to qualified institutional investors. With an aim to become a debt-free company, DLF had last year announced plans to issue up to 17.3 crore shares through qualified institutional placement (QIP) to raise funds and pre-pay loans. According to a regulatory filing, DLF has launched its QIP on Monday and the floor price has been fixed at Rs 193.01 per equity share. The company said that at its discretion it may offer a discount of up to 5 per cent on the floor price in the QIP. DLF's shares closed at Rs 189.40 on the BSE, down 3.49 per cent. This is the third major fund raising from DLF. In 2007, DLF raised close to Rs 9,200 crore through initial public offer (IPO). In 2013, the company had raised nearly Rs 1,900 crore through institutional placement programme. The DLF's QIP comes close in the heels of successful launch of India's first Real Estate Investment Trust (REIT), ...
Pakistan receives USD 2.1 billion from China
Pakistan on Monday received USD 2.1 billion from its all-weather ally China to help it in making international payments mainly on import and debt repayment counters. Finance Ministry Spokesperson Khaqan Hassan Najeeb said the funds deposited in the State Bank of Pakistan would strengthen the stability of the country. "?Deposit of RMB 15Bn equivalent to USD 2.1Bn received in State Bank of Pakistan account on March 25th 2019 from China," Najeeb tweeted. He said government was following a successful multipronged strategy to ensure stability in balance of payment including curtailing current account (deficit) improving remittances and ensuring adequate foreign exchange financing. "Foreign exchange reserves increase to comfortable level," he said. The SBP reserves stood at USD 8.84 billion as on March 15, 2019, according to the central bank's latest weekly report. The latest deposits came from Beijing are expected to boost the SBP reserves into double digit after a gap of almost one ...
NHPC commences power trading for J&K
The sale and purchase of power in Power Exchange is for a period of 1 year from the date of LoA and for purchase of 1000 MUs and Sale of 400 MUs through Power Exchange.
Online event booking portal aims 1,000 banquets by 2022
BookEventZ, an online portal for event bookings, aims to have over 1,000 banquets across the country by 2022. The Mumbai-based company has launched flagship venues under the brand name of BookEventZ Venues and aims to have over 1,000 banquets across the country by 2022, Shriti Chhajed, one of the founders of the company, told PTI. "Theexisting hitch in the venue booking system is that there are so many standalone banquets and no standard brand. This makes the services unpredictable. In this scenario, the customer is always apprehensive to give a final yes to any venue," Chhajed added. The company started offering services in 2013 for event bookings, weddings, parties and corporate events, said Harsh Baid, another founder of the company, who is a graduate from IIT Bombay and an MBA from IIM Lucknow.
Board of Tamil Nadu Petro Products approves change in directorate
At meeting held on 25 March 2019
Rupee settles flat at 68.96 vs USD ahead of RBI swap auction
The rupee ended almost flat at 68.96 per US dollar Monday as participants preferred to wait on the sidelines to see the outcome of RBI's first-ever rupee-dollar swap auction. The forex market sentiment revived towards the fag-end, offsetting early losses amid increased selling of the greenback by exporters, traders said. At the Interbank Foreign Exchange market, the rupee opened on a weak note at 69.09 then fell further to 69.17 against the US dollar. The local unit, however, erased the initial gains and finished at Rs 68.96, down by just 1 paisa over its previous close. On Friday, the rupee had ended lower by 12 paise at 68.95 against the American currency on rise in demand for the greenback from importers and sell-off in domestic equities. The rupee-dollar swap auction announced by the RBI earlier in March will infuse Rs 35,000 crore into the system. The auction of USD 5 billion for a tenure of three years will be conducted on Tuesday. "The currency, sovereign-debt and credit ...
RBI Governor meets Finance Minister Jaitley ahead of monetary policy meeting
A week before the financial year 2018-19 comes to a close, Reserve Bank of India (RBI) Governor Shaktikanta Das met Finance Minister Arun Jaitley to get a brief on the overall economy.The development came as the six-member Monetary Policy Committee (MPC) prepared to decide on the first bi-monthly statement for 2019-20 scheduled for April 2 to 4.The MPC will factor in several economic factors and decide on key interest rates for banks.The second meeting of the MPC in next fiscal (April 1, 2019 to March 31, 2020) will be held on June 3, 4 and 6, third meeting from August 5 to 7, fourth meeting in the first week of October, fifth meeting from December 3 to 5 and sixth meeting from February 4 to 6 next year.
Hyundai inks wage deal with workers, technicians to get hike of Rs 25,200 per month over 3 yrs
Hyundai Motor India Monday said it has signed a wage settlement agreement with the workers of its Chennai plant, under which the technicians will get an average salary increase of Rs 25,200 per month spread over three years. The three-year wage settlement will be implemented with retrospective effect from April 2018 and will remain effective until March 2021, Hyundai Motor India Ltd (HMIL) said in a statement. The wage settlement agreement was signed between the company's management and the recognised union, the UUHE (United Union of Hyundai Employees), it added. "As per the agreement, technicians will receive an average salary increase of Rs 25,200 per month spread over three years," the company said. Technicians will receive 55 per cent of the increased salary in the first year, 25 per cent in the second year and 20 per cent in the third year. "This would mean a monthly salary raise of Rs 13,860 will be given in the first year, Rs 6,300 in the second year and Rs 5,040 a month in the
Sensex tanks 355 pts on global growth concerns (2nd Lead)
Following a steep decline in the Asian and other global markets, Sensex tanked 355 points on Monday over concerns of global slowdown.
Nifty March futures at premium
Turnover in F&O segment falls
Rajiv Saxena turns approver in AgustaWestland case
A Delhi court on Monday allowed Dubai-based businessman and alleged middleman Rajiv Saxena to become an approver in the Rs 3,600 crore AgustaWestland VVIP chopper deal case.
Bajaj Finance fixed deposit have MAAA (stable) rating from ICRA
ICRA, a credit rating agency, offers ratings to fixed deposits of companies that can help guide investors in making the right decisions when it comes to investing money in FDs. These ratings are extremely crucial, as fixed deposits with companies are unsecured in nature and unlike bank fixed deposit it is not covered by a guarantee from the Deposit Insurance and Credit Guarantee Corporation of India.Higher ratings suggest that the company does not default on the payment of the principal as well as the interest amount. It also has good credibility in the market.MAAA ratings (stable) are considered as one of the highest ratings that are given to fixed deposit products of companies. Bajaj Finance Ltd, the lending and investment arm of Bajaj Finserv, is been accredited with ICRA's MAAA (stable) rating and Crisil's FAAA/Stable rating. These ratings indicate the lowest investment risk and highest safety for the investors. Along with the highest safety rating, Bajaj Finance Ltd offers many ..
FinTech Has Potential To Reshape Financial services And Financial Inclusion Landscape In fundamental Ways Says RBI Governor
FinTech has the potential to reshape the financial services and financial inclusion landscape in India in fundamental ways, noted the RBI governor Shaktikanta Das in a speech today. It can reduce costs and improve access and quality of financial services. FinTech stands for financial technology and describes technologically enabled financial innovations. From 'start-ups' to 'big-techs' to established financial institutions, all the key players are harnessing this technological edge along the financial services' value chain to provide agile, efficient and differentiated experiences to the end-user.
Over 450 Exhibitors From the Shipping & Maritime Industry With State-of-the-art Brands to Drop Anchor at INMEX SMM India 2019
/ -- South Asia's most comprehensive and reliable expo for the sector from UBM-Informa and Hamburg Messe Und Congress UBM-Informa, India's leading B2B event's organizer, is all set to bring in the 11th edition of INMEX SMM India at the Bombay Convention and Exhibition Center in Mumbai, the shipping capital of India from October 3-5, 2019. Backed by years of expertise and the collective forces of UBM India, Informa Exhibitions and Hamburg Messe und Congress, INMEX SMM India is committed to crafting a platform for global manufacturers and suppliers to showcase their state-of-the-art products to the South Asian maritime market. (Logo: https://mma.prnewswire.com/media/675607/UBM_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/840446/Informa_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/840425/UBM_INMEX_SMM_2019_Logo.jpg ) The scaled up 2019 edition of the INMEX SMM India Expo will bring buyers and manufacturers from across the globe to conduct business and be a coveted ...
Samsung tops consumer-focused brands in India list
Samsung, Tata Motors, Apple, Hero MotoCorp and Nike are the top-five consumer-focused brands in the country, according to a study by TRA. The study, titled 'India's Most Consumer-Focused Brands 2019', measures brands on their increase in buying propensity index over the previous year. "Samsung showed an upward movement of eight ranks to secure the top position on the list of this year. The South Korean conglomerate dominates the Indian market by displaying its determined supremacy through complete consumer focus, thus dominating their mind and perception," TRA said in a statement. Life Insurance Corporation, LG, HDFC Bank, Bajaj Pulsar and Vivo took the sixth, seventh, eight, ninth and tenth place, respectively. Category-wise, Tata Motors secured first position in four-wheeler manufacturer category, while Eicher topped in the commercial vehicle category. Budweiser won the title of India's most consumer-focused alcoholic beverage brand. Chennai-based Otto was ranked number one in the ..
Stocks tumble amid global sell-off
Key benchmark indices ended with sharp losses amid weak global stocks. Concerns about the health of the world economy spooked investors. The uncertainty around Brexit (the withdrawal of the United Kingdom from the European Union) also kept markets nervous.
Quick Wrap: Nifty Media Index registers a drop of 2.76%
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Sonata Software Makes Strategic Investment in Retail10X, a Silicon Valley-based Retail AI Software-as-service Platform Company
/ -- Sonata Software today announced that it has made a strategic investment in Retail10x, a Palo Alto, California Headquartered Retail AI software-as-service platform company. R10x is a Retail AI software-as-service platform for retailers, distributors and consumer packaged goods companies that helps them in: Improving Operational Effectiveness through advanced demand sensing, shrink reduction inventory optimization and merchandizing capabilities. Real-time Supply chain Collaboration. Building Customer Loyalty by helping connect with their customers in a personalized, relevant and timely manner during their shopping experience. The platform leverages advanced AI and ML capabilities to deliver actionable field-level recommendations. Retail10x team has deep industry experience having worked for some of the leading organizations like Apple, Walmart, Coke, Heineken, Moet Hennessy, SC Johnson and IRI. Sonata software has been focused on being a Digital Transformation Partner of choice ..
Founder Naresh Goyal to exit Jet Airways board; airline to get immediate funds worth Rs 1,500 cr
Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal will step down from the board of the ailing airline, which will also receive an immediate funding of Rs 1,500 crore under a resolution plan piloted by its lenders. Goyal would also cease to be the Chairman of the full-service carrier, which has been flying for more than 25 years, according to a regulatory filing. After weeks of speculations and uncertainties over the future course of Jet Airways, which has grounded over 80 planes due to financial woes, the airline's board Monday approved a resolution plan formulated by SBI-led domestic lenders. Naresh Goyal, his wife Anita Goyal and Etihad Airways PJSC's nominee director Kevin Knight would step down from the board. Gulf carrier Etihad holds 24 per cent stake in Jet Airways. According to the filing, two nominee directors of the lenders would be inducted. Further, an immediate funding of up to Rs 1,500 crore would be provided to the cash-strapped airline by "way of ..