With India’s workforce being subject to pay cuts and massive layoffs in the last 6 months, with over 10.8 million jobs lost as per research by a leading web portal , the need for careful financial planning is ever apparent. Thankfully, in many sectors, the economy is picking up, salary...
liquor sales down by 29% in first half of 2020-21
New Delhi: There has been a steep decline in liquor sales during the Corona period. In the first quarter of the current fiscal, liquor sales have fallen by 29 per cent. Everything remained closed during the tight lockdown for the first two months. The sale of liquor was then allowed,...
Automakers use virtual reality to cut the development time for vehicles like the Hummer EV
General Motors developed the 2022 GMC Hummer EV in rapid time with help of virtual reality, an increasing trend for the automotive industry before and during the coronavirus pandemic. GM CEO Mary Barra called the Hummer EV’s process a “new benchmark in GM’s ability to quickly bring EV products to...
Around 47% BSE-200 companies yielded negative returns in October
Nearly half of the BSE-200 companies yielded negative returns last month, according to a recent report by Motilal Oswal Institutional Equities. On a year-to-date basis, 59 per cent of BSE-200 constituents declined, as Future Retail and financial stocks like Canara Bank, Bank of Baroda, and Punjab National Bank were the...
Railways earning close to all-time low
New Delhi: The condition of Indian Railways has deteriorated during the Corona period. How bad the situation has become, one can guess from the fact that the earnings of the railways have been less than 10% before the Corona period. Rather, say that the earnings of the railways have touched...
Biocon Biologics receives USD 150 million capital injection from Goldman Sachs
Bengaluru: Biocon Ltd, an innovation-led global biopharmaceuticals company, on Saturday announced that the Board of its subsidiary Biocon Biologics Ltd (Biocon Biologics) has approved a Rs 1,125 Crore (~USD 150 million) capital injection from Goldman Sachs.As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible...
ECLGS needs to be extended to more stressed sectors: CII to FinMin
New Delhi: The Confederation of Indian Industry (CII) has written to the Finance Ministry urging the government to explore an Emergency Loan Credit Guarantee Scheme (ECLGS) to support the resource starved stressed sectors. As per the industry body prolonged strain on employment-intensive stressed sectors could impede overall economic recovery. In...
CAIT demands compensation for traders’ losses
New Delhi: The Confederation of All India Traders (CAIT) on Sunday said states that have banned sale of firecrackers should compensate firecracker traders for the losses suffered by them due to the ban. CAIT in a statement demanded that Delhi Chief Minister Arvind Kejriwal and chief ministers of other states...
FPIs invest Rs 8,381 cr in five trading sessions of November
New Delhi: Foreign portfolio investors (FPI) have put in a net Rs 8,381 crore into Indian markets in first five trading sessions of November, with participants growing more confident in view of resumption of business activities and better than expected quarterly numbers, among others. As per depositories data, FPIs invested...
Working on aviation fuel from Gadchiroli bamboo plan: Gadkari
New Delhi: Union Minister Nitin Gadkari on Sunday said he was working on an idea to set up a refinery for production of aviation fuel from bamboo grown in Maharashtra''s Gadchiroli district. Gadkari was speaking at the inauguration of an "Atmanirbhar Bharat'' assistance office here. "I am planning to set...