Author: Finance Khabar
Bhubaneswar: ArcelorMittal Group, the world’s largest steelmaker, said it plans to invest Rs 2,000 crore in Odisha. Group chairman and CEO LN Mittal gave this information on Saturday. Mittal said this during a video conferencing conversation with Odisha Chief Minister Naveen Patnaik. Mittal told Patnaik during the conversation, “We have a Rs 2,000 crore investment plan in Odisha. This scheme is proceeding under the support and guidance of your administration, your people. Your experience is very big and you have handled the Covid-19 crisis very well, that’s good news. ” Regarding ArcelorMittal’s investment plan, Mittal said, “If it happens that…
New Delhi: Tata Communications incurred a loss of about Rs 275 crore in the fourth quarter of the financial year 2019-20 ended March 31. The main reason for this is to make provision for legislative dues. The company said on Saturday that it had a loss of Rs 199 crore in the same period a year ago. The company said that it had to make a provision of Rs 342 crore for the additional license fee liabilities in the March 2020 quarter. During this period, the company’s total income increased 3.6 percent year-on-year to about Rs 4,398 crore. The company…
New Delhi: Petrol and diesel prices have increased for the eighth consecutive day. Petrol prices were increased by 62 paise per liter on Sunday and 64 paisa per liter in diesel prices. With this, petrol has reached 75.78 per liter and diesel 75.78 per liter in the capital Delhi. In eight days, the price of petrol has increased by more than Rs 4 per liter and the rate of diesel by more than Rs 4.50 per liter. Fuel prices have been increased across the country, but their prices may vary depending on VAT or local sales tax in each state.…
New Delhi: After 8 and a half months, from 8 June, retail industry including malls, restaurants have been allowed to open. It is about a week but customers are not leaving the house due to fear of Corona. There is a huge possibility of retrenchment in the retail industry due to the decline in business. Shoppers Stop, the buyers’ favorite place in every malls, has decided to sack its 1,100 employees. The Corona epidemic has had the worst effect on a Shoppers Stop in India’s oldest department store. People involved in the case said that 1000 people have been evacuated…
New Delhi: There is no stopping of these cyber crimes, and even amidst strict laws and policing the incidences are only cropping day after day even in these pandemic times. As per reports, a banker who ordered booze online has been cheated of Rs. 82500. In a leading daily it has been reported that the banker while making the order shared his credit card details for home delivery of liquor worth Rs. 4500. A resident of Raheja Vihar in Chandivili shared the details despite the cyber officials warning against it. The incident occurred on May 18 when the victim was…
The European Union will agree to borrow billions of euros from financial markets this summer, a European official predicted Friday, despite ongoing differences over how to deal with the economic shock from Covid-19. European countries have battled over a plan to raise 750 billion euros ($847 billion) in public markets since the European Commission, the executive arm of the EU, presented the idea in late May. Negotiations are ongoing, but some member states are still reluctant to take the unprecedented step, fearing taking too much risk for their own taxpayers. However, speaking at a Goldman Sachs virtual conference on Friday,…
New Delhi: With seven straight days of hike in auto fuel price since the daily revision norm has been reinstated, the petrol and diesel prices have gone up by Rs. 3.9 and Rs. 4 per litre. On Saturday, the prices in line with international crude oil rates and foreign exchange rates have been upped by 59 paise per litre on petrol and 58 paise on diesel. In the wake of lockdown which spanned over 2 months, the daily revision was stalled with a huge cut back on demand. As per the price notification of state oil marketing companies, petrol and…
MUMBAI: On Saturday, public sector Bharat Heavy Electricals Ltd (BHEL) reported a net loss of Rs 1,534 crore for the quarter ended March when compared to a net profit of Rs 676 crore in the same period a year ago. Total income of the engineering major fell to Rs 5,198 crore in the fourth quarter of 2019-20 from Rs 10,492 crore last year. Total expenses too came down to Rs 5,906 crore from Rs 9,217 crore year-on-year. The quarter was an execution-heavy quarter for capital goods companies whose deliveries were hit by the COVID-19 nationwide lockdown in the last week…
PUNE: While coronavirus positive cases continue to soar in Maharashtra, Apollo Diagnostics has come forward and initiated door-to-door blood sample collection facilities for the needed patients. This service is a boon for patients as they will not have to step out of their house, and the spread of the disease can be controlled. The Apollo Diagnostics workers giving these services adhere to the safety measures required to keep themselves away from getting infected with the coronavirus. Amid lockdown, the workers also faced many challenges while entering society to collect the samples. Till now more than 1,000 home samples were collected.…
MUMBAI: NAREDCO on Friday organized an online meet with recently formed MoEF Expert Committee members to discuss long pending MOEF issues for fast tracking and framing model conditions for housing and construction projectsrequiring prior environmental clearance. The suggestions for Conditions or pre certifications to qualify for fast track and Framing model conditions for EC to housing and construction projects were presented by Mr Kishore Bhatija, Vice President, NAREDCO Maharashtra and MD, K. Raheja Corp. The meeting was attended by all the 4 members of the committee including the Chairman , Shri. Sunil Kumar Singh, I.A.S, MoEF Expert Committee, MOEF&CC, Government…
New Delhi: With the gradual opening of the lockdown imposed due to Corona infection, the price of petrol and diesel continues to rise. Petrol and diesel prices were increased by 59 paise per liter for the sixth consecutive day. Government oil companies reintroduced daily changes in fuel prices. Petrol price in the capital Delhi increased from Rs 74.57 to Rs 75.16 per liter. Similarly, the price of diesel increased from Rs 72.81 to Rs 73.39 per liter. In the last seven days, the price of petrol has increased by Rs 3.9 and the price of diesel by four rupees. In…
New Delhi: After all the changes after the corona virus, there can be a change in salary slip. News is coming that sectors like IT sector, banking, FMCG, consultancy, automobile, manufacturing can bring new salary slips. Anshul Prakash, partner at Khaitan & Co, a specialist in Employment and Labor Law, said companies have plans to formulate a new policy on behalf of HR. He also informed that now components like travel and convenience allowance, oil and driver’s allowance, vehicle maintenance charge can be removed from the salary slip. This can happen because people are not traveling and working from home.…
New Delhi: After permission to open restaurants, McDonald’s has started operating its outlets in North and East India. MacDonald said in a statement released on Saturday that customers visiting the company’s restaurants will have a completely safe and comfortable seating environment. The company said that it has changed more than 50 procedures to protect customers and its employees. The company said that its restaurants are undergoing thermal screening of employees. It is mandatory for employees to wear masks and gloves. In addition, employees frequently wash hands and use hand sanitizers. Apart from this, the temperature of customers coming to restaurants…
MUMBAI: India’s ban on electronic nicotine delivery systems (ENDS) such as e-cigarettes has robbed the country’s 120 million smokers of access to less harmful alternatives, a tobacco harm reduction advocate said at an online global forum on June 11. “This got me to wonder why a country which would benefit the most from risk reduction so hastily ban it? Why didn’t the government think that a million Indian lives lost every year to smoking were worth saving?” Association of Vapers India (AVI) director Samrat Chowdhery said during the virtual Global Forum on Nicotine (GFN).
HYDERABAD: AirAsia India today marked its 6th anniversary with #PassOnTheGoodwill – a token of gratitude for all its patrons. Riding on the rich legacy of its promoters – the Tata Group and AirAsia Group, AirAsia India spread its wings in the domestic skies on 12th June, 2014, from Bengaluru-Goa, heralding the emergence of a young, vibrant and dynamic airline brand. The airline has expanded significantly with a workforce of over 3200 Allstars playing a pivotal role in its operations across 21 destinations in India with a fleet of 30 Airbus A320 aircraft. In the spirit of passing on the goodwill,…
Wipro Limited , a leading global information technology, consulting and business process services company, today announced that Wipro VirtuaDesk™, Wipro’s Desktop as a Service solution and Wipro’s Digital Workspace solution, will join forces with Citrix Systems, Inc. and Microsoft to help customers drive business continuity while executing operations within the boundaries of social distancing and other limitations that have currently become the new normal. Wipro will integrate a host of services offered by Citrix and Microsoft to create highperformance virtual compute environments that leverage the power of cloud architecture and next-generation digital workspace technology. The combined solution will allow for…
Zydus Cadila, an innovation-driven, global healthcare company today announced that it has signed a non-exclusive licensing agreement with Gilead Sciences Inc., for the manufacturing and distribution of Remdesivir, the investigational drug, which has been issued an Emergency Use Authorization by the U.S. Food and Drug Administration (FDA) to treat patients suffering from severe symptoms of Novel Coronavirus. Zydus has been supporting the fight against COVID 19 with therapeutics, vaccines and diagnostics. Speaking on the development, Chairman of Zydus, Mr. Pankaj Patel said, “We are happy to collaborate with Gilead Sciences and increase the access to this life saving drug for…
Mumbai: Indiabulls Housing Finance Ltd has today, June 12, 2020, allotted 2,000 Secured, Redeemable, Non-Convertible Debentures of face value Rs. 10 lakh each (‘NCDs’) aggregating to Rs. 200 Crores, on a private placement basis. These NCDs have been subscribed by two large Indian public sector banks. The Coupon Rate is 9.00% p.a. (Payable Annually) and the NCDs are proposed to be listed on National Stock Exchange of India Limited and BSE Limited.
Mumbai: On Thursday, the Reserve Bank of India (RBI) released a discussion paper on ‘Governance in Commercial Banks in India’ for public comments. In it, the central bank proposed the term for bank chief executive officers (CEOs) to be capped at 10 years if they promoters or major shareholders of the entity. The regulator is also considering a cap of 15 years for tenures of CEO who are non-promoters. “To build a robust culture of sound governance practice, professional management of banks and to adopt the principle of separating ownership from management, it is desirable to limit the tenure of…
Mumbai: Today on Friday, 12 June 2020, the stock market was a day of heavy upheaval. The Sensex opened with a fall of nearly 1000 points in the morning and finally closed. Today where the Sensex gained nearly 242.52 points to close at the level of 33780.89 points. The Nifty closed at the level of 9972.90 with a gain of 70.90 points. Apart from this, on the BSE today, a total of 2653 companies were traded, out of which about 1248 shares gained momentum and 1254 stocks closed down. At the same time, there was no difference in the share…