Author: Finance Khabar
Mumbai: In the wake of COVID-19 crisis, GVK MIAL managing Chhatrapati Shivaji Maharaj International Airport (CSMIA) has put together measures to curb the spread of coronavirus. The airport has formulated standard operating procedures for post-lockdown safety of the passengers, which include social distancing, stringent thermal screening, positioning temporary quarantine centres and also continues to sanitise and disinfect the airport to ensure safety and well-being of the passengers when operations resume. “To enable safety precautions at the airport, CSMIA plans to maintain social distancing through distinctive markings at both the terminals, maintaining 1.5 metres distance between each passenger,” GVK MIAL said…
Every business owner of small or big enterprise always has this fear in mind to avoid any legal hassles or never ever run out of cash in their venture. However, in order to avoid these two problems, one must avoid to make any mistakes in setting up their new business, right from the beginning. Here we discuss some points that needs to be kept in mind as one starts their new endeavour: 1) Your business shouldn’t fail to address market needs. Starting a business is cool. Thinking about an innovative idea is also fine. But if your business is not…
Most startups take a lot of time to sustain. Yes, small, self-funded startups are a big thing than it is considered. Because it is created from scratch. As coronavirus lockdown is going on in many states all over India, you would have ample time every day that can be utilized to start your own venture. Why is this the right time? Because coronavirus teaches that nothing in this world is going to live forever. If you have a day job and think about starting your business after settling down in your life, then you are wrong. That time is not…
Running a successful startup is no joke. At the same, managing employees with transparency and following business ethics is not everyone’s cup of tea. If you are being criticized for your managerial and leadership skills by your friends or ex-employees, then time to equip yourself with the much-needed leadership skills in this coronavirus lockdown. 1) Be confident and positive:Coronavirus may have killed many dreams and aspirations of your employees. Considering the effects of lockdown is huge, they may also feel they will lose their job sooner or later. You need to be confident about your team and the business ideas.…
Coronavirus has impacted the economy in the most negative way. Many companies have laid off their employees or have asked the employees to take a salary cut. Uncertain future, outdated business model and inexperienced crisis management are also some of the causes for the downward trend of jobs. As they say, there lies an opportunity in every crisis. Similarly, coronavirus has led to creation of ample of work opportunities in e-commerce sector. So, why lose hope and sit idle at home when you can think about venturing into e-commerce startup space? Here are some tips to help you start a…
Since January 2020 i.e. when coronavirus entered our country, we are seeing the worst happening everywhere. As per economists, we have entered into a worst recession stage in modern history. Coronavirus pandemic has created an atmosphere of uncertainty and anxiety among business owners and entrepreneurs. Venture capitalists are keeping their money on hold as they want to invest their capital only when the pandemic ends. Many businesses are saving their cash reserves the best possible way so that they can survive the next few months. Yes, you cannot predict how your and your business’s future will look like in this…
New Delhi: The recent COVID-19 lockdown has impacted domestic poultry industry severely with fourth quarter (January to March) being the worst in recent times, according to investment information firm ICRA. The industry incurred large net losses due to sharp decline in demand, realisation and profitability. Rumours circulated in social media, linking poultry birds as possible vectors of the virus, further lead to the demand drop and hence realisations. While realisation has recovered from lows of March, overall volume is likely to remain modest in Q1 FY21 (April to June) thereby putting pressure on overall profitability. As per ICRA research, the…
Mumbai: Brickwork credit rating agency has assigned A1-plus rating to Tata enterprise Titan’s bank loan facilities of Rs 5,000 crore and proposed commercial paper of Rs 900 crore. Titan proposes to issue commercial paper to meet its working capital requirements and also to take advantage of lower interest rates. The commercial paper issues are proposed to be unsecured and expected to have a tenure of 7 to 365 days. Brickwork said the ratings continue to draw strength from the strong parentage and support of the Tata group and Tamil Nadu Industrial Development Corporation (TIDCO), established brand equity, experienced and professional…
Chennai: Tyre major MRF Ltd has committed to spend a sum of Rs 25 crore to support various initiatives to address the exigencies arising out of the COVID-19 pandemic. The support will be in the form of contribution to the PM Cares Fund at the Central level, support to various state governments where the company’s factories are located and also direct district-level projects undertaken to provide relief in various forms. This will include providing medicines, personal protective equipment for medical and relief personnel and also weaker sections of society, sanitisation of areas, distribution of essentials to migrant labour and local…
Supply 10,000 ventilators by May-end New Delhi: India’s largest carmaker — Maruti Suzuki India Limited (MSIL) — on Friday said that it will complete its first order of 10,000 ventilators in collaboration with AgVA Healthcare, an existing approved manufacturer of ventilators, to the Central government by the end of May. The first ventilator was manufactured on April 11, within 10 days of MSIL joining with AgVa Healthcare, a new and small start-up to scale-up ventilator production. Speaking to ANI over the phone about the production of ventilators, MSIL Chairman R C Bhargava said: “We have been approached by the government…
New Delhi: Mini-ratna public sector unit RailTel said on Friday it registered a consolidated income of Rs 1,243 crore in the financial year 2019-20, marking 20 per cent growth in the year-ago period. “While the telecom market has been posing negative growth for the past few years, RailTel not only managed to stay profitable but also recorded significant growth over the years,” it said in a statement. The net worth of the company has also grown steadily and consistently. The company maintained a steady profit and has been consistently paying dividends to the Ministry of Railways. RailTel is also one…
Bengaluru: L&T-owned digital transformation company Mindtree on Friday reported 3.9 per cent growth in the fourth quarter net profit at Rs 206 crore over the same period in previous fiscal. The growth was 4.7 per cent quarter-on-quarter. Revenue during Q4 FY20 grew by 11.5 per cent at Rs 2,050 crore year-on-year and 4.3 per cent quarter-on-quarter. In dollar terms, the net profit was flat at 28.2 million dollars year-on-year and up 1.8 per cent quarter-on-quarter. The revenue moved up 6.3 per cent to 278 million dollars year-on-year and 1.2 per cent quarter-on-quarter. Mindtree said it closed FY20 with the highest…
Mumbai: Equity benchmark indices closed the week in negative zone amid weak global cues as investors opted for safer assets while awaiting another government stimulus package to revive economic activity in the wake of COVID-19 lockdown. Reports said Finance Minister Nirmala Sitharaman will soon meet Prime Minister Narendra Modi to finalise a second stimulus package for industry, the poor and farmers amid the COVID-19 lockdown. The BSE S&P Sensex closed 536 points or 1.68 per cent lower at 31,327 while the Nifty 50 slid by 160 points or 1.71 per cent at 9,154. Except for Nifty pharma which moved up…
Pune: Strengthening the fight against Covid-19, employees of Bajaj Finserv and its subsidiaries have voluntarily decided to contribute a part of their salary to the PM-CARES fund. The collective effort of around 32,000 employees resulted in an amount of Rs 5,07,66,716/- being contributed by employees of Bajaj Holdings & Investments and Bajaj Finserv, along with its subsidiaries – Bajaj Finance, Bajaj Housing Finance, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Bajaj Finserv Direct and Bajaj Finserv Health. The Bajaj Finserv companies have decided to match this contribution, thereby doubling the amount to Rs 10,15,33,432/-, which will be donated to…
Mumba: Motilal Oswal Asset Management Company (MOAMC) said on Friday it has successfully completed the new fund offer (NFO) of Motilal Oswal S&P 500 Index Fund, an open-ended scheme replicating and tracking S&P 500 Index. It is an index fund that helps investors invest in the world’s largest brands in the world’s largest index — the S&P 500 Index. It was the first time in India that a mutual fund NFO has been marketed and transacted exclusively through digital modes of transaction, said MOAMC. For the NFO, besides the company website and app, investments were received through various intermediaries transacting…
Washington: LG’s latest flagship phone, the Velvet, will be revealed in full on May 7th. The company has posted a teaser video clip on its Korean YouTube channel and the clip evokes raindrops and a catwalk which is a common reference to the phone’s camera layout, the Verge reported. LG had already announced the Velvet and the phone will have a “raindrop” triple-camera setup, a symmetrical curved-glass design, a Snapdragon 765 processor with built-in 5G, and a headphone jack. However, the price of the phone is still unknown and no release date outside of South Korea has been revealed.
Singapore: Airlines in India are likely to suffer a revenue loss of 11.2 billion dollars this year leading to 2.9 million jobs at risk as passenger demand falls by 47 per cent due to COVID-19 crisis, the International Air Transport Association (IATA) said on Friday. The latest estimates from IATA indicate a worsening of the country impact from coronavirus pandemic and travel restrictions in the Asia Pacific region. On April 14, IATA released an updated analysis showing that the COVID-19 crisis will see global airline passenger revenues drop by 314 billion dollars in 2020, a 55 per cent decline compared…
Mumbai: Infrastructure major Larsen & Toubro (L&T) said on Friday its railway strategic business unit of construction business in consortium with Kyosan Electric Manufacturing Company of Japan has won a significant order in the form of three packages from the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL). The design and build orders involve 2×25 kilovolt overhead electrification, signalling and telecommunication, and associated works at the Dadri-Khurja and Sahnewal-Khurja sections of the Eastern Dedicated Freight Corridor (EDFC). The works are spread across 442 route km and 638 track km. Though L&T did not give the value of the contract, it…
Chennai: Hinduja Group flagship Ashok Leyland Ltd has acquired 1.57 crore shares of Rs 10 each constituting 3.36 per cent of the equity of its subsidiary Hinduja Leyland Finance Ltd (HLFL). The cost of acquisition was done at a price of Rs 119 per equity share. The proposed acquisition of equity shares of HLFL is at arm’s length basis. The acquisition is part of the 6.99 per cent acquisition approved by the board of directors at a meeting held on March 21. With this, the shareholding of Ashok Leyland in the finance company has gone up from 65.45 per cent…
Whitley: Tata Motors-owned Jaguar Land Rover (JLR) plans to gradually resume production from May 18 starting with manufacturing plants at Solihull in the UK as well as in Slovakia and Austria. “In China, we are beginning to see recovery in vehicle sales and customers are returning to our showrooms. Our joint venture plant in Changshu has been in operation since the middle of February,” JLR said in a statement. As countries are relaxing distancing guidelines and retailers are reopening around the world, the restart of production at our other plants will be confirmed in due course, it added. “The health…