Page 801 - Business Finance
Allahabad Bank reduces MCLR rates by 10 bps
With effect from 01 March 2019
Panacea Biotec spurts after board OKs one time settlement with lenders
Panacea Biotec rose 3.82% to Rs 201 at 14:19 IST on BSE after the company said its board approved one time settlement with the consortium of lenders of the company.
ANAROCK Completes 300 Exclusive Project Mandates Worth INR 22,000 Cr
/ -- 100 exclusively mandated projects worth INR 9000 Crore currently ongoing Sale rate of 1000 units/month unprecedented in current market Firm relies heavily on technology as key differentiator ANAROCK today announced the successful closure of 300 exclusive mandates to market residential projects across India and in the Gulf. The cumulative market value of the inventory sold to date exceeds INR 22,000 Cr. (Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/827633/ANAROCK_Anuj_Puri.jpg ) Anuj Puri, Chairman - ANAROCK, says, "ANAROCK has strategically partnered with over 150 top developers across 13 Indian cities and in the Gulf. The market value of the overall mandated inventory we have sold since our launch in 2017 exceeds INR 22,000 Cr across the 300 residential projects. Interestingly, 11,000 units of these, with a value of INR 10,000 Cr, were sold in the current financial year (FY18-19) itself. The combination of focused ...
Brigade Group signs MoU with Kerala Govt. for developing World Trade Center at Thiruvananthapuram
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Volumes spurt at Max India Ltd counter
Max India Ltd registered volume of 43.17 lakh shares by 14:14 IST on NSE, a 19.05 fold spurt over two-week average daily volume of 2.27 lakh shares
PEBS Pennar to Ramp up Engineering Service Outsourcing Business
/ -- Pennar Engineering Services, a division of Pennar Engineered Building Systems (PEBS Pennar), sees big opportunities in engineering design outsourcing services. Pennar's engineering services outsourcing has already made inroads in the US market and has undertaken significant work for multiple clients. Started in FY 2015, the engineering services division has already registered a revenue of INR 60 crore. PEBS Pennar expects this division to grow at a CAGR of 30% over the next 5 years. Structural steel detailing is an important and mandatory process in all types of manufacturing and construction activities, such as erection of residential and commercial buildings, factories and institutes, as well as shipbuilding. The process of steel detailing is a vital 'communications link' that connects key professionals such as engineers, architects, contractors, fabricators and others - all of whom are individually and collectively responsible for the highest levels of accuracy at each stage.
Board of Rain Industries approves change in directorate
At meeting held on 27 February 2019
Board of GSL Securities accepts resignation of company secretary
At meeting held on 27 February 2019
RBI To Inject Durable Liquidity Through OMO Purchase Auctions
On a review of the evolving liquidity conditions, it has been decided to continue with the Open market operations (OMO) purchase auctions in March 2019, noted the Reserve Bank Of India (RBI) in a latest update. Based on an assessment of the durable liquidity needs going forward, RBI has decided to conduct the purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 250 billion during the first fortnight of March 2019 through two auctions of Rs 125 billion each.
IOC wins city gas licences for 10 areas; HPCL 9
State-owned Indian Oil Corp (IOC) has won licences to retail gas in 10 cities while Hindustan Petroleum Corp Ltd (HPCL) won rights for nine towns as oil regulator PNGRB announced winners for the 10th city gas bid round. IOC won city gas distribution licences for nine cities, most of them in Bihar and Jharkhand, on its own and one in a joint venture with Adani Gas, according to a press statement issued by Petroleum and Natural Gas Regulatory Board (PNGRB). HPCL, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC), won licences to retail CNG to automobiles and piped natural gas to households in nine cities in Uttar Pradesh and West Bengal. A little known consortium of LNG Marketing Pte Ltd and Atlantic Gulf & Pacific Company of Manila Inc won rights for nine cities in Andhra Pradesh, Karnataka, and Kerala. Gujarat Gas Ltd won rights for six cities while state gas utility GAIL India's unit GAIL Gas Ltd won rights for four. Indraprastha Gas Ltd and Torrent Gas won rights for ..
Gold rebounds by Rs 120 on jewellers' buying
Gold prices rose Rs 120 to Rs 34,650 per 10 grams at the bullion market Wednesday following increased buying by local jewellers and retailers, according to All India Sarafa Association. Silver followed suit and recovered by Rs 70 to Rs 41,475 per kg due to increased offtake from industrial users and coin makers. However, global cues were weak, capping the gains in both the precious metals. Traders attributed the rise in gold prices to pickup in buying by local jewellers at spot markets to meet ongoing wedding season demand. Besides, weakness in the rupee which depreciated 42 paise to 71.49 against the dollar (intra-day) at the forex market, making imports costlier, too supported the upside in gold prices, they added. Globally, spot gold fell 0.12 per cent to USD 1,327.80 an ounce and silver spot by 0.22 per cent to USD 15.94 an ounce in New York Wednesday. In the national capital, gold of 99.9 per cent purity rebounded by Rs 120 to Rs 34,650 and gold of 99.5 purity rose by Rs 80 to Rs
Sankhya InfoTech and General Atomics Aeronautical Systems collaborate on simulation and training for India
GAASI anticipates working with Sankhya to provide simulation and training technology in compliance with global standards, and to deliver cutting-edge training to pilots, sensor operators and maintenance crew.
Odisha amends ITC Policy-2014, to make it more attractive
The Odisha government has amended some of the clauses of the state Information and Communication Technology (ICT) Policy - 2014 to make it more attractive, officials said. The decision in this regard was taken at the cabinet meeting chaired by Chief Minister Naveen Patnaik on Tuesday. "We have amended two clauses of the ITC Policy 2014," chief secretary A P Padhi said. According to the amended decision, industrial units in IT/ITES/ESDM sectors which were receiving or are eligible to receive net VAT reimbursement under ICT Policy 2014, will now be eligible for net SGST reimbursement for balance period out of eligibility period from the date of commencement of production. Padhi said new industrial units in IT/ITES/ESDM sectors will be eligible for reimbursement of 100 per cent of net SGST paid for a period of five years from the date of starting of commercial production on or after July 1, 2017 limited to 100 per cent of fixed capital investment provided that the SGST ...
Commerce Minster Discusses With FPOs About Measures To Boost Farm Exports
Union Minister of Commerce and Industry, Suresh Prabhu, held an interaction with Farmer Producers' Organizations (FPOs) through video link in 81 locations of the country in New Delhi yesterday. Around twelve locations from the North East were part of this interaction with the Minister. Commerce Minster discussed with the FPOs about measures that may be implemented by them in order to boost exports of products from specific regions of the states. In order to implement the Agriculture Export Policy 40 clustershave been formedacross the country and through NABARD, APEDA, MPEDA and Plantation Boards farmer's organizations will be given all assistance in order to ensure that farmers get adequate market price and are able to export their produce.
Pitstop hires former Mericar.com CEO Rakesh Sidana as a General Manager
Pitstop, India's largest doorstep car services & repair provider today announced the appointment of Rakesh Sidana, Former Mericar.com CEO and Founder."Pitstop is on the anvil to become the largest doorstep service company in India. While tech-driven, garages are the backbone of our operations, and Rakesh Sidana has joined us to lead this critical function. He joins the core team at Pitstop and we are elated to have him. His wealth of knowledge in our domain is unmatched, and I have no doubt that he will rightfully shape the future of auto services in India with standardised garages, delivering a transparent, convenient, robust and reliable experience," said, Mihir Mohan, CEO & Founder, Pitstop.Pitstop is your one-stop solution to maintain the healthy life of your car. Founded in 2015, Pitstop aims to provide quality, economical and convenient car general service through their doorstep service vehicles. Currently operating in six cities, the company has partnered with over .
IHG opens 7 more Holiday Inn Express hotels under partnership with SAMHI
Global hospitality major InterContinental Hotels Group (IHG) Wednesday said it has opened seven more Holiday Inn Express hotels in the country under its partnership with SAMHI. IHG and hotel asset firm SAMHI had entered into a partnership in 2017 to rebrand 14 hotels with around 2,000 rooms, operating and under- construction in India, to Holiday Inn Express hotels. With this development, 10 Holiday Inn Express hotels from the IHG - SAMHI partnership are now open across the country, InterContinental Hotels Group said in a statement. The hotels are in key cities of Pune, Hyderabad, Nashik, Ahmedabad and Bengaluru, it added. IHG South West Asia Regional Vice President Vivek Bhalla said: "The brand has gained tremendous momentum in the country and we have also made significant progress towards our commitment to strengthen our midscale portfolio in India." The company is confident that all newly opened Holiday Inn Express hotels will successfully cater to the needs of the modern business ..
Crude steel output in India at 9.18 million tonne in January : Report
India's crude steel output fell about two per cent to 9.180 million tonne (MT) during January 2019, according to World Steel Association (worldsteel). The country had produced 9.354 MT during the same month in 2018, according to worldsteel's latest report. Global crude steel production for the 64 countries reporting to the association was 146.70 MT in January 2019, up one per cent compared to the year ago month, it said. Last month, China's crude steel production stood at 75.013 MT, higher by 4.3 per cent as against 71.887 MT output in January 2018. China is the world's largest steel producing country. While India produced 9.2 MT of crude steel in January 2019, Japan and South Korea produced 8.1 MT and 6.2 MT, respectively. The production of the US was at 7.6 MT, a rise of 11 per cent over January 2018. Italy produced 2 MT, France 1.2 MT, Spain 1.2 MT, Ukraine 1.9 MT, Brazil 2.9 MT and Turkey 2.6 MT. The members of worldsteel represent approximately 85 per cent of the world's steel ..
Bajaj Auto Ltd spurts 1.6%, up for five straight sessions
Bajaj Auto Ltd is quoting at Rs 2905, up 1.6% on the day as on 12:44 IST on the NSE. The stock is down 3.83% in last one year as compared to a 2.84% gain in NIFTY and a 24.84% gain in the Nifty Auto.
Canon launches its lightest full-frame mirrorless camera in India
Japanese camera maker Canon on Wednesday launched its lightest and smallest full-frame mirrorless camera EOS RP in India starting at Rs 110,495.
Anarock sells flats worth Rs 22K cr since Apr 2017; to be profitable in FY19 with Rs 200 cr revenue
Homegrown property brokerage firm Anarock has sold around 24,000 housing units worth Rs 22,000 crore since its inception in April 2017 despite slowdown in real estate market, a top company official said. The company achieved a turnover of around Rs 90 crore last fiscal and is likely to more than double its revenue and be profitable in the current 2018-19 fiscal, Anarock founder and Chairman Anuj Puri said. He formed Anarock in April 2017 after quitting global property consultant JLL India. Puri, who served JLL India as chairman and country head for 10 years, bought the residential brokerage arm of JLL to set up his own venture. "Our performance has been very good since we started our operation in April 2017 despite overall slowdown in housing market," Puri told PTI. Anarock sold 13,000 flats worth Rs 12,000 crore during the 2017-18 fiscal year and has achieved sales bookings of 11,000 units worth Rs 10,000 crore till January in the current fiscal. "We have partnered with over 150 top .