Page 696 - Business Finance
Jet Airways shares drop nearly 4%
Shares of Jet Airways fell nearly 4 per cent Tuesday amid the debt-ridden company massively cancelling flights after grounding of a large part of its fleet. The shares of the company declined 3.35 per cent to close at Rs 229.05 apiece on the BSE. During the day, it plunged 5.48 per cent to Rs 224. At the National Stock Exchange (NSE), shares dropped 3.65 per cent to close at Rs 228.10 per scrip. On the traded volume front, 13.19 lakh shares were traded on the BSE and over one crore shares on the NSE during the day. Civil Aviation Minister Suresh Prabhu on Tuesday directed his ministry's secretary to hold an emergency meeting on debt-ridden Jet Airways massively cancelling flights after grounding of a large part of its fleet. The minister's direction came in the wake of the airline drastically reducing its operations due to liquidity crunch. "Directed Secretary, @MOCA GOI to hold an emergency meeting on grounding of flights by Jet Airways, advance bookings, cancellations, refunds and ..
V-Mart Retail expands its retail presence with opening of two stores
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Jet pilots to meet to decide future course of action
Jet Airways pilots' union will meet in Mumbai and Delhi to chart out their future course of action regarding non-payment of salaries.
RCOM stocks jump 10% after it pays dues to Ericsson
Shares of Anil Dhirubhai Ambani-led Reliance Communication (RCOM) settled 10 per cent higher on Tuesday after it paid the due amount of Rs 580 crore to Ericsson on Monday.
Tata Power Solar launches residential rooftop solution in city
West Bengal Power Minister Sobhandeb Chattopadhyay on Tuesday inaugurated a residential rooftop solution by Tata Power Solar, and said the demand for such products would grow with rising environmental awareness. Residential rooftop solar solutions could typically save up to Rs 50,000 annually for 25 years, company officials said. "It is good that corporates are taking interest in this sector, and demand will also grow with rising environmental awareness. "The state government has been installing rooftop solutions in government offices and schools," Chattopadhyay said on the sidelines of Energy Forum 2019 here. Tata Power Solar is a wholly-owned subsidiary of Tata Power. "After the successful launch of residential rooftop solution in Delhi, Mumbai, Bhubaneswar, Bengaluru, Chennai, Guwahati, Jamshedpur... we are extending the solution to all West Bengal customers," Tata Power MD & CEO Praveer Sinha said.
Mizoram CM presents Rs 3,588 crore vote on account
Mizoram Chief Minister Zoramthanga Tuesday presented vote on account for the first four months commencing from April amounting to Rs 3,588.85 crore in the state Assembly. Presenting the vote on account, Zoramthanga, who also holds charge of the Finance portfolio said, "I am deeply conscious of the inconvenience to present a regular budget due to the enforcement of model code of conduct for the coming general election." He said that Mizoram was witnessing significant progress in terms of economic and social progress with the GSDP projected to be at Rs 22,238.92 at current price at a growth rate of 12.5 per cent which is estimated at the same growth rate from 2017-18 to 2018-19. "The projected growth rate is considered remarkable as compared to the national growth rate of 7.3 per cent," he said. Zoramthanga also presented Supplementary Demands for grants for the current financial year amounting to Rs 2,926.55 crore and also sought regularisation of excess expenditure of .
UN patent data shows Asia innovation surge
More than half of all international patent applications filed last year came from Asia, a further sign of innovation shifting "from west to east," the United Nations said Tuesday. In the latest annual breakdown of patent filings released by the World Intellectual Property Organization (WIPO), the United States remained the leading individual country for applications in 2018. But on a regional basis, Asia's surge continued. "Asia is now the majority filer of international patent applications via WIPO, which is an important milestone for that economically dynamic region and underscores the historical geographical shift of innovative activity from west to east," the agency's director general Francis Gurry said in a statement. WIPO's complex system of registering international patents involves multiple categories. In the main category -- the Patent Cooperation Treaty -- the US led the way with 56,142 applications, followed China (53,345) and Japan (49,702). Germany and South Korea came ..
Companies betting on rural demand to grow: Report
A brokerage report on consumers and their consumption patterns on Tuesday said that consumption in central Indian rural states and Odisha is growing fast and that it favours companies with reach in both urban as well as rural India.
Nifty settles above 11,500 level
Local stocks extended gains for seventh straight trading session amid support from index pivotals, Reliance Industries, ITC and Infosys. Most auto shares declined. The Nifty ended above 11,500 mark.
Quick Wrap: Nifty PSU Bank Index rises 1.87%
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India's fuel product consumption up 3.8% in February 2019
Consumption or sales of fuel products rises 3.2% in April-February 2019
Voltamp Transformers to commence production of 11kV Ring Main Unit
RING MAIN UNIT (RMU) is a self-contained unit with protection and controls, for reliable distribution of 11 KV Supply. Product has been developed inhouse and successfully completed all mandatory tests at accredited Test Labs of international repute. Like transformer it finds use in electrical installations of utility industry, infrastructure, real estate, smart cities, compact sub-stations etc.
Xiaomi launches Mi Pay to take on Google Pay, Paytm
Aiming to take on the likes of Google Pay and Paytm, Chinese handset maker Xiaomi on Tuesday launched its Unified Payments Interface (UPI)-based payments application "Mi Pay" for its MIUI users in India.
Norway's Norsk Hydro hit by 'extensive' cyberattack
One of the world's biggest aluminium producers, Norway's Norsk Hydro, said Tuesday it had been hit by a cyber-attack of unknown origin. "Hydro became victim of an extensive cyberattack in the early hours of Tuesday, impacting operations in several of the company's business areas," the energy group said in a statement. Spokesman Halvor Molland said it was too early to determine the full extent of the attack, or its origin. "Our IT department is working to contain the impact" of the attack, he told AFP. Most of the company's IT systems were affected, many of them disconnected and switched to manual operations. The group's website was down on Tuesday morning. The news sent the firm's share price tumbling 2.0 per cent in early trading on the Oslo Stock Exchange. Norway's National Security Authority (NSM), tasked with protecting the country from cyberattacks, espionage, sabotage or acts of terrorism, said it was assisting Norsk Hydro. "We are obviously trying to identify whether it will ...
Nifty March futures at premium
Reliance Industries, State Bank of India, ICICI Bank March 2019 futures most active
Velan Hotels update on OTS offer to ARC
OTS amount - Rs 97.50 crore Initital payment - Rs 16.78 crore on or before 26 March 2019 Interest rate - Coupon Rate 6.50% p.a. on outstanding amount Sales proceeds - Payment to RARE from proceeds of sale of Hotel Property situated at Coonoor, Nilgiris District, Tamil Nadu and sale of part machinery at power plant.
RBI Renews the Authorization Issued to Vakrangee for White Label ATMs
/ -- The Reserve Bank of India (RBI) has provided the Renewal of Authorization for Vakrangee Limited. RBI has extended the validity of Authorization issued to Vakrangee limited to setup, own and operate the White Label ATMs in India. The validity has been extended till March 31, 2020. Under Scheme "B" opted at the time of grant of authorization, Vakrangee is desired to have minimum 15,000 ATMs. The ratio of 2:1 would be applicable, i.e., for every 2 WLAs installed in Tier III to VI centres, 1 WLA can be installed in Tier I to II centres. Out of the WLAs installed in Tier III to VI centres, a minimum of 10 % should be installed in Tier V and VI centres. Vakrangee currently has ~3,500 Nextgen Vakrangee Kendra's spread across 20 states, 340+ districts and 2,000+ postal codes. More than 70% outlets are from Tier 5 and tier 6 cities. Vakrangee's planned target is to reach at least 25,000 operational Nextgen Vakrangee Kendras by FY 2019-20 and further enhance it to reach 45,000 Nextgen ...
China: Market falls on profit booking
Shares of nuclear-power equipment makers gained after the ministry of ecology and environment said government will construct nuclear power station in the southern province of Guangdong and in the east Fujian province. The two projects will cost a combined 81.2 billion yuan in investment. China Nuclear Engineering surged 8.1% and Lanzhou LS Heavy Equipment jumped by the 10% daily limit to 6.33 yuan.
IBBI and SEBI signs MoU for better implementation of IBC
Agreed under the MoU to assist and co-operate with each other for the effective implementation of the Code