Page 745 - Business Finance
Washing machines, microwave ovens to have energy efficiency ratings
The power ministry Thursday said two more electrical appliances microwave ovens and washing machines will now be assigned star ratings based on their energy efficiency metrics. The star labelling programme have been formulated by the Bureau of Energy Efficiency (BEE), as part of its mandate, under the Energy Conservation Act, 2001, a power ministry statement said. "The programme will now include these two appliances for grant of star rating in terms of their energy performance. Initially, the programme for above two appliances will be implemented on a voluntary basis and will be valid up to December 31, 2020," the statement said. The programme is aimed at improving energy efficiency in household appliances to reduce energy bills of common consumers. The BEE has also revise the criteria for washing machine for inclusion of water efficiency in addition to energy performance for grant of star rating. The ministry has estimated savings of over three billion units of electricity at ...
Government may extend 25% corporate tax rate to Rs 500-cr turnover
The government will walk the talk on its 2016 promise of lowering the corporate tax rate in a major way in the full budget in July if it is voted back to power.
Arvind Fashions shares jump 5 pc in debut trade
Shares of Arvind Fashions, which deals in apparels and accessories, jumped 5 per cent in its debut trade Friday following a demerger process. The stock advanced by 4.99 per cent to close at Rs 621.30 -- its upper circuit limit -- from its opening price on the BSE. The scrip opened the day at Rs 591.75. On the National Stock Exchange, shares of the company climbed 4.99 per cent to close at Rs 620.45. The company's market valuation stood at Rs 3,603.21 crore on the BSE. Arvind Ltd had in 2017 announced it would spin off its branded apparel and engineering businesses into separate listed companies to focus on its core textiles business.
O.P. Jindal varsity launches online course in 'Impact investment'
O.P. Jindal Global University has launched a 4-week long online course in 'impact investment', aiming to train people in how to invest in companies to generate measurable social and environmental gains and at the same time earn from it too.
World's biggest sovereign fund to dump oil and gas stocks: Norway
Norway's sovereign wealth fund, the world's biggest and which is fuelled by petrodollars, will divest its oil and gas holdings to reduce its exposure to the oil sector, the Norwegian government announced on Friday. While the decision is based solely on financial considerations and not on the environment or climate change, a divestment by an investor worth more than $1 trillion will undoubtedly be seen as a major blow to polluting fossil fuels. The government of Norway, the biggest hydrocarbon producer in western Europe, said it would exclude companies classified as exploration and production companies from the fund. "The objective is to reduce the vulnerability of our common wealth to a permanent oil price decline," Finance Minister Siv Jensen said in a statement. The decision follows a recommendation made the Scandinavian country's central bank in 2017. Oil and gas represent almost half of exports of Norway's and 20 percent of the state's revenues. The revenue from the state-owned ..
Production at Parsoda mine expected to begin by April-end: MOIL
State-run MOIL Friday said production at its Parsoda manganese mine is expected to begin by the end of April 2019. The mine will be operated by opencast mining method, the company said in a BSE filing. "MOIL has been granted mining lease of Parsoda manganese mine near village Parsoda, 46 kms from Nagpur in the year 2016. "The lease extends...for 50 years period i.e. from April 22,2016 to April 21, 2066 and the project cost is estimated to be Rs 19.54 crore. The production is expected to be started by end of March/April, 2019," it said. MOIL, under the Ministry of Steel, operates around 10 mines, including six in Maharashtra and four in Madhya Pradesh. Balaghat mine is its largest, which produces top quality manganese ore.
Rupee snaps 3-day winning streak, drops 14 paise to 70.14 against USD
Halting its three-day winning run, the Indian rupee Friday edged lower by 14 paise to close at 70.14 to the US dollar in line with fall in domestic equities market. On a weekly basis, however, the domestic currency logged 78 paise gains. The rupee saw a fall Friday despite drop in global crude prices and weakness in US dollar against key rival currencies. At the Interbank Foreign Exchange (forex), the domestic currency opened lower at 70.18 a dollar and fell further to touch the day's low of 70.22. It finally settled at 70.14 per dollar, down 14 paise over its previous close. Brent crude futures, the global oil benchmark, fell 1.76 per cent to USD 65.13 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.25 per cent to 97.42. "The Indian rupee has gained 2 per cent over the last one month to trade below 70 per US dollar. The India rupee is the best performing emerging market currency over last one month," Sunil Sharma, Chief ..
Wipro shares drop nearly 5 pc
Shares of Wipro Friday fell nearly five per cent after the company said that one of its promoters, Azim Premji Trust, has sold 2.66 crore shares in a block deal on the BSE. The scrip declined 4.58 per cent to close at Rs 256.50 on the BSE. During the day, it dropped 4.91 per cent to Rs 255.60. At the National Stock Exchange (NSE), shares plunged 4.18 per cent to close at Rs 257.60 apiece. On the traded volume front, 466.21 lakh shares were traded on the BSE and over 2 crore shares on the NSE during the day. The company, however, did not disclose further details of the transaction. Azim Premji Trust is part of the promoter group that held 3,36,19,97,805 shares amounting to 74.30 per cent stake in the company as of the quarter ended December 31, 2018. On March 7, Azim Premji Trust had sought pre-clearance for selling equity shares of the company and was granted permission for the aforesaid proposal on the same day, Wipro said in a regulatory filing. Pre-clearance for selling equity ...
Market snaps 4-day rising streak
Key equity benchmarks snapped gains after rising in past four consecutive sessions. Weakness in IT and metal shares put pressure on bourses. The Nifty managed to settle above the psychological 11,000 mark. Weak global cues amid concern over sluggish global growth spoiled investors sentiment.
Sri Lanka raises USD 2.4bn as IMF extends bailout
Sri Lanka has raised $2.4 billion as it returned to the international bond market for the first time since a political crisis triggered rating downgrades, the central bank announced Friday. A power struggle between the president and the prime minister late last year prompted three international rating agencies to downgrade Sri Lanka, forcing the government to abandon plans to borrow overseas. With the end of the dispute, the International Monetary Fund has revived a bailout programme with Sri Lanka, and Colombo has resumed its international sovereign bond sales. Sri Lanka's central bank said it went to market on Thursday following the strong backing from the IMF which last week lifted its suspension of a USD 1.5 billion bailout agreed in June 2016. The issue of USD 1 billion in bonds with a five-year tenure and a 10-year USD 1.4 billion bond were hugely oversubscribed. Both bonds attracted offers of USD 7.5 billion, the bank said. The bonds were bought at an average yield of 6.58 per .
FSTC launches country's 1st Level D Q400 and Level D Airbus A320 NEO simulator services
Flight Simulation Technique centre (FSTC) has taken the next big step to service Spice Jet airline and country's requirement to support the training for pilots on Bombardier Q400 simulator. Countries' first Level D Q400 simulator is ready for training to extend simulator services to Q400 operators in India and entire South East Asia operating Dash8 aircraft.The new Level DFS1000 simulator is scheduled to offer its services at the FSTC's newly opened training centre at Rajiv Gandhi International airport, Hyderabad from 01st March 2019. This is the first training facility of the country located at airport vicinity to extend simulator services in India."We welcome the addition of the Bombardier Q400 to our diversified simulator profile. This Simulator & our training programs will further enhance aviation safety in India and help to meet the growing demand for Q400 training in the country and the region. The new simulator will enable us to provide our existing and future airline ...
AU Small Finance Bank partners with Insurtech Firm Acko General Insurance
AU Small Finance Bank Ltd. , a Fortune India 500 company and one of India's fastest growing banks, today announced its partnership with a new age insurtech company, Acko General Insurance Limited. Partnering with Acko, India's first digital insurer, AU bank is now set to provide customized insurance products to its customers.AU Small Finance Bank is continuously working on offering its customers access to financial services and products directly through their digital channels. With the objective of building a robust digital banking platform to offer best in class products in Digital Loans, Deposits, and Investment segments. AU is tying up with various technology partners who share a similar vision and have the relevant technology advancements to back up their offering, Acko being the first.Based on user behavior data, Acko's solution is designed to offer contextual insurance, enabling AU to deliver tailor-made policies that offer the right coverage when the customer needs it.Acko is a
Motherland launches premium baby products store in Hyderabad
Motherland launched Hyderabad's brand new premium baby products store in Park Hyatt, Banjara Hills, Hyderabad, Telangana. The baby store is a brain-child of a parent conceptualized for babies and other parents. The first ever store of Motherland will be opened in the highly frequented area of Road no. 36, Jubilee Hills.Designed to cater to the needs of the modern parent, Motherland is going to be an exciting and jovial destination for a vast range of baby products, starting from baby-care, furniture, and furnishings, clothing, accessories and toys all imported from trusted brands. The new store will be a One-of-a-kind, ambient and one-stop destination for all kinds of baby products. Motherland takes their baby products a notch higher as they intend on selling quality-rich products that are mostly chemical free or organic."In India, the baby-care market was only Rs 6917 CR in 2015 and is expected to grow to a whopping Rs 14,079 CR by 2020. On the other hand, the market size of the toys
NCLT gives 90 days more in defaulting resolution applicant case
The Chennai bench of National Company Law Tribunal (NCLT) has granted additional 90 days for resolution of an insolvency case where the original successful resolution applicant failed to pay the dues and close the transaction.
Sensex, Nifty ends marginally lower over weak global cues
Amid weak global cues, the Indian equity indices ended with marginal losses on Friday after trading in a range for a major part of the session.
India launches 3rd IT corridor in China
India has launched its third IT corridor in China that will facilitate partnerships between Indian and Chinese companies. The National Association of Software and Services Companies (NASSCOM) entered into a partnership with China's Xuzhou city from Jiangsu Province in China to help develop the IT corridor. The IT industry body has already launched such corridors at Dalian and Guiyang cities to cash in on the burgeoning Chinese IT industry market. Through its previous similar initiatives in China, NASSCOM has brought to the fore opportunities with over 300 companies where more than 10 Indian SME companies have signed deals worth 31 Million RMB (USD 4.5 million). The previous IT corridors in Dalian and Guiyang have already sprung up opportunities to the tune of 24 Million RMB (USD 4.6 million) and 62 Million RMB (USD 8.9 million) respectively, it said. The first two corridors have paved the way for cooperation in co-create mode in the emerging technologies such as AI, IoT and Analytics .
Turnover in F&O segment drops
Nifty March futures at premium
Sportskeeda set to cross 40 mn users, 1 bn ad impressions monthly
Sportskeeda, Indias largest all-sports website owned and maintained by Absolute Sports Pvt Ltd has revealed their plans for the upcoming 'cricket season comprising of the much-awaited Indian Premier League (IPL) as well as the ICC World Cup.
Canon India Takes Ahead its Sustainability Vision; Spreads Awareness Around Plastic Waste Management and Bio-diversity Conservation
/ -- - Partners with 'I am Gurgaon' to spread awareness around waste management - Conducts a Photo-Walk for its employees and customers at the Wazirabad Bundh Eco-restoration Project Park Strengthening its commitment towards creating a sustainable future for the present and future generations, Canon India, one of the leading imaging organisations has partnered with 'I am Gurgaon', a not-for-profit organization that has taken up the responsibility to make Gurgaon a better place to live in. Through the joint endeavour, the organization aims to spread awareness around the hazard of plastic waste accumulation in the city and spread awareness on its effective and efficient management. Environment is a core element of Canon's '4Es' policy of CSR, which focuses on Environment, Education, Eye Care and Empowerment. (Logo: https://mma.prnewswire.com/media/538728/Canon_India_Logo.jpg) (Photo: https://mma.prnewswire.com/media/832872/Canon_Employees_at_Photo_Walk.jpg) As part of the initiative, ..
Quick Wrap: Nifty Metal Index declines 1.50%
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