Author: Finance Khabar
The country’s largest automobile manufacturer Maruti Suzuki India recently introduced the Dzire facelift with minor cosmetic and feature upgrades. After which the company is now preparing to launch the Swift facelift and S-Cross petrol. In the newly updated Maruti Swift, the company will use a 1.2 liter capacity BS6-standard dualjet petrol engine. Recently, the company also used this engine in its new facelift Dzire sedan. This engine is more powerful than the current model. Which generates around 83bhp power and 113Nm torque. Let us know, the company is also using start-stop technology in the new Maruti Swift. Which will increase…
Bajaj has launched the Pulsar NS200 BS6 in India. The Bajaj Pulsar NS200 price in India is Rs 1.25 lakh, Rs 11,000 more than the BS4 model. The motorcycle is yet to reach dealerships and this is down to the lockdown phase. We believe Bajaj dealers should be able to cater to customers with the updated model within a few weeks of the lockdown lifting. We will come straight to the point here. The NS200 BS6 gets a power bump. It and the RS200 now make the same power – 24.5hp and 18.5Nm. The 4-valve engine benefits from fuel injection…
New Delhi: With the current lockdown to contain the coronavirus outbreak in India, the routine process of going to one’s nearest doctor for a consultation has become impossible. Hence, while sitting at home, if one feels unwell, there is both a sense of helplessness in getting expert medical help and a fear of having contracted COVID-19. To address these concerns, while at the same time helping to minimize the burden of the coronavirus pandemic on the Indian healthcare system, Pristyn Care has set up an end-to-end ecosystem of tele-medicine and COVID-19 testing. The health-tech company has established a control room…
Mumbai: ANAROCK’s latest report ‘COVID-19 – Will it Reset Indian Real Estate?’ takes a hard look at how the ongoing pandemic is impacting Indian real estate. No sector will remain immune to the impact of the coronavirus, which has shaken up industries across the globe and forced them to consider immediate, mid-term and long-term ways to re-strategize and rethink their businesses and business models. Housing sales to see 25-35 per cent y-o-y fall in 2020; new launches by 25-30 per cent. Unsold housing inventory to remain stable, may even see 1-3 per cent yearly reduction. Construction delays could run into…
Hyderabad: Aurobindo Pharma’s planned acquisition of the US generic oral solids and dermatology businesses of Sandoz Inc has fallen apart. Aurobindo said on Thursday it is calling off the proposed acquisition of US dermatology business and three manufacturing units of Sandoz, a division of Swiss drugmaker Novartis. “This decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within anticipated timelines,” it said in a statement. In September 2018, Aurobindo had agreed to purchase Sandoz’s US dermatology and generic pills business for one billion dollars in the biggest overseas acquisition by an Indian…
Noida: Domino’s Pizza said on Thursday it is partnering with ITC Foods to help customers order everyday grocery essentials as coronavirus cases continue to climb despite the countrywide lockdown. “The partnership between a quick service restaurant (QSR) and a fast moving consumer goods (FMCG) company is aimed at serving the community at large by ensuring uninterrupted supply of essential items without them having to step outside the safety of their homes,” Domino’s said in a statement. A combo pack of Aashirvaad atta and spices including chilli, coriander and turmeric powder will be available on Domino’s app starting Thursday. This service…
New Delhi : Indigram Labs Foundation, a leading agri-tech focused incubator, has announced the winners of its smart village program – ‘Adhunik Gram’, an initiative to empower agribusiness in rural India. The winner was IndusTill FarmeTech Pvt. Ltd. which won a cash prize of Rs 1 Lakh. The 1st runner up was Urdhvam Environmental Technologies Pvt. Ltd. which won a cash prize of Rs. 50,000 and the 2nd runner up was Impagro farming solutions Pvt. Ltd. which won Rs. 30,000. The program which was launched in September 2019, received over 120 applications of which 14 start-ups were shortlisted and 11…
Mumbai: Tata Motors said on Wednesday its domestic sales last month crashed by 84 per cent to 11,012 units compared with 68,727 units in March last year. The sales in domestic and international markets during March 2020 stood at 12,924 vehicles compared with 74,679 units during March 2019. Commercial vehicle sales cracked by 90 per cent to 5,336 units from 50,917 units in March last year while commercial vehicle exports plunged by 68 per cent to 1,787 units in March 2020 from 5,619 units in the same month last year. “Cumulatively, commercial vehicle domestic sales for FY20 at 3.1 lakh…
Gurugram: The board of directors at Minda Industries Ltd has approved an investment of Rs 33.5 crore in TG Minda, a 49.9 per cent joint venture of Uno Minda and Toyoda Gosei of Japan. The proceeds of the investment will be used to consolidate Toyoda Gosei’s business in India by transferring the shares of Toyoda Gosei South India Ltd (TG SIN) to TG Minda. TG SIN is a 95 per cent subsidiary of Toyoda Gosei. The transaction is expected to be completed by September. TG SIN reported a turnover of Rs 377 crore in FY 2019. It is engaged in…
Mumbai: India’s largest fast-moving consumer goods company Hindustan Unilever Ltd (HUL) said on Wednesday it has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) with itself. The merger was announced on December 3, 2018 and was subject to obtaining necessary approvals, which have now been secured. “This is one of the largest deals in the FMCG sector in recent times and will lead to significant value creation for all stakeholders,” HUL said in a statement. In addition, the board of directors on Wednesday approved HUL acquiring the Horlicks brand for India from GSK for a consideration of 375.6…
Mumbai: The Reserve Bank of India (RBI) on Wednesday extended realisation period of export proceeds as part of additional measures to deal with the economic disruption caused by coronavirus epidemic. The value of the goods or software exports made by exporters is currently required to be realised fully and repatriated to the country within nine months from the date of exports. “In view of the disruption caused by the COVID-19 pandemic, the time period for realisation and repatriation of export proceeds for exports made up to or on July 31 has been extended to 15 months from the date of…
Mumbai: Equity benchmark indices closed 4 per cent lower on the first day of new financial year (2020-21) as investors remained focused on rising coronavirus infections and its economic impact within and outside the country. At the closing bell, the BSE S&P Sensex was down by 1,203 points or 4.08 per cent to 28,265 while the Nifty 50 tumbled by 344 points or 4 per cent at 8,254. All sectoral indices at the National Stock Exchange were in the negative zone with Nifty IT down by 5.4 per cent, private bank by 4.8 per cent, financial service by 3.9 per…
Meerut: In the fight against COVID-19, around 2,56,000 employees of the country’s largest lender, State Bank of India (SBI) have decided to contribute two days’ salary to the Prime Minister’s National Relief Fund. With this collective effort and commitment of SBI employees, Rs.100 crore will be donated to the PM CARES Fund which is created to fight the coronavirus pandemic. Last Week, SBI had committed 0.25% of annual profit for FY 2019-20 as a part of its CSR activities to fight COVID-19. Rajnish Kumar, Chairman, SBI said “It is a matter of pride for State Bank of India that all our…
Ahmedabad: Adani Enterprises has bagged a Rs 867 crore hybrid annuity road project from the National Highways Authority of India (NHAI) under Bharatmala Pariyojana. The four-laning of 47 km Nanasa to Pidgaon section of NH-47 in Madhya Pradesh will be done in two years while the operation period is 15 years. Bharatmala Pariyojana is a government-funded road and highways project. With this project award, Adani Group will have a total of five NHAI road projects under hybrid annuity mode spanning in states of Chhattisgarh, Telangana, Andhra Pradesh and Madhya Pradesh. The company said it is focused on incubating successful businesses…
New Delhi: Maruti Suzuki India Ltd (MSIL), the country’s largest passenger car manufacturer, on Wednesday reported 47 per cent year-on-year fall in its total sales during March to 83,792 units. With this, the company ended FY 2019-20 with total sales of 15.63 lakh units, down 16.1 per cent from 18.62 lakh in the previous fiscal. The sales during March 2020 are not comparable with sales in March 2019 due to suspension of operations from March 22 in line with national policy, said the company. “Maruti Suzuki remains committed to the safety and well-being of its employees, business partners and customers.…
Mumbai: As coronavirus crisis deepens in the country, the Indiabulls Group on Tuesday pledged to donate 21 crore to the Prime Minister’s ‘Citizen Assistance and Relief in Emergency Situations Fund’ (PM-CARES Fund). The group, in a statement, said it hopes to keep supporting the exemplary work done by the Centre and State authorities in conjunction with healthcare professionals across the country. “This outbreak has spared no nation, and it will take the collective spirit of our entire country to best fight it. Indiabulls Group will aim to support every effort towards that objective” said Sameer Gehlaut, Chairman, Indiabulls Group, “We…
New Delhi : With the COVID-19 cases steadily rising and Government of India announcing sweeping measures to contain its spread with the lockdown, there has been a growing need for protective equipment like PPE kits, masks and sanitisers. Many states have reported erratic supply and sky- high prices which has further impacted the affordability of these items. Moreover, poor quality has been observed in items such as sanitisers reported to have insufficient alcohol amount. At this critical juncture, it has, therefore, been essential to ensure that “quality” preventive protection items are made available where they are needed the most. Up…
New Delhi: Some state-run banks have given huge relief to the borrowers facing problems with the nationwide lockdown by the government to prevent the corona virus epidemic. Banks have postponed the EMI of the loan of the borrowers for three months, so that they will not have to pay the loan installment for the next three months. The banks have taken this step following an RBI directive that asked all banks to approve a three-month moratorium on loan payments. Last Friday, the RBI announced the imposition of a three-month moratorium on all term loans and working capital payments, including retail…
Mumbai: Equity indices bounced back from yesterday’s decline and closed over 3 per cent higher on the last trading day of the financial year 2019-20 (FY 20) tracking gains in global markets. A sizable improvement in Chinese manufacturing data for March supported the market sentiment. Investors, however, continued to track development related to coronavirus and measures taken by the government to minimise its impact. The BSE S&P Sensex closed 1,028 points or 3.62 per cent higher at 29,468 while the Nifty 50 nudged higher by 317 points or 3.82 per cent to 8,598. All sectoral indices at the National Stock…
Bengaluru : Government-owned Hindustan Aeronautics Ltd (HAL) recorded a turnover of over Rs 21,100 crore for the financial year ended on Tuesday, up 7 per cent from Rs 19,705 crore in the previous fiscal. “The company posted a revenue growth of around 7 per cent during 2019-20 for the second year consecutively post listing as compared to 3.8 per cent during 2017-18,” it said in a statement. HAL said the performance has been achieved in spite of difficulties in cash flows, interruptions in operations due to workmen agitation and interruption due to COVID 19 lockdown which affected final tests and…