Author: Finance Khabar
New Delhi: Despite the DoT order, no company paid the AGR till midnight yesterday. Bharti Airtel has promised to give the first installment of 10 thousand crores by February 20, so far no information has been received from Vodafone. Companies have not paid AGR. No one paid the dues despite the DoT order. Let me tell you that by midnight tomorrow the deadline to give AGR is over. Meanwhile, Bharti Airtel has written a letter to the Department of Telecommunications. In which it is said that the company will make a payment of 10,000 crore by 20 February. The company…
Mumbai: Go-Air, promoted by the Wadia Group, said on Friday that it has appointed Vinay Dubey as Chief Executive Officer (CEO). Dubey was an advisor to the aviation company. He left Jet Airways in May last year to come here. GoAir’s board of directors has approved Dubey’s appointment as CEO and will report to the chairman, managing director and board. The post of CEO at Go Air was vacant following the departure of Cornelis Wrijwijk in March last year. Dubey has served in various positions including senior vice president-Asia Pacific at Delta Air Lines, CEO at Delta Technology LLC, vice…
Due to the increasing demand for electric scooters in the Indian market, two-wheeler manufacturers are launching more than one scooter. Recently, the country’s leading electric two-wheeler manufacturer Ather Energy has launched its new Ather 450X in the market. Since the launch of Ather 450X, there has been doubt about its prices. However, the company has revealed the price of this scooter, and these prices have been kept between Rs 1.49 lakh and Rs 1.59 lakh. Let me tell you, this scooter has been launched by the company under the monthly subscription plan, in which if you choose the subscription, then…
New Delhi: Income tax department gets target – bring two lakh crores till March, posting will also be the basis of recovery Income tax department got directive to deposit tax of Rs 2 lakh crores by March. During a recent event, Prime Minister Narendra Modi raised the issue of taxation by very few Indian citizens. Now two days after this, the government has targeted the Income Tax Department to collect tax of Rs 2 lakh crore by March. This target amnesty scheme is given under the ‘Vivaad se Visvaas’, whose deadline is June 2020. The bill is yet to pass…
Integration progressing well with 86% districts consolidated Highlights for the Quarter • Revenue grew by 2.3% QoQ supported by strong growth in 4G additions; average daily revenue (ADR) returned to growth after 14 quarters of decline (except Q4FY19: +2.3% QoQ). • 4G subscriber base now 104.2 million; 4G net additions accelerated to 8.3 million during the quarter. • Synergy realization on track with ~85% of the guided synergy achieved by Q3FY20. • 86% of districts consolidated driving a significant improvement in network speeds, leading to enhanced customer experience. • Fastest 4G network in the three metros – Delhi, Mumbai and…
New Delhi: After the Supreme Court rebuke, the Department of Telecommunications has issued orders to telecom companies like Bharti Airtel and Vodafone Idea to pay the statutory dues before midnight on Friday. The Supreme Court pulled up the department for prohibiting collection of dues from telecom companies. After that, the Department of Telecommunications has started sending notices to companies regarding dues on a circle basis. Uttar Pradesh (West) Telecom Circle issued notice to all telecom service providers on Friday asking them to pay the dues by 11.59 on Friday. It states, “… you are directed to pay the outstanding amount…
New Delhi: Public sector Oil and Natural Gas Corporation (ONGC) net profit on a standalone basis declined by 49.8 percent to Rs 4,152 crore for the quarter ended December 2019 due to lower oil and natural gas prices and declining production. ONGC, in a statement on Friday, reported a net profit of Rs 8,263 crore in the same quarter a year ago. The company received $ 59.73 on the oil produced in the quarter under review, which is 10 percent lower than the year-ago quarter of 2018-19. At the same time, the price of natural gas was down 4 per…
New Delhi: Sun TV Network’s integrated net profit related to television and radio broadcasting service increased 7.15 percent to Rs 384.69 crore for the quarter ended December 2019. Sun TV said in a report to the Bombay Stock Exchange that the company had a net profit of Rs 359.01 crore in the same quarter of FY 2018-19. However, the company’s revenue fell 7.89 percent to Rs 914.17 crore in the quarter under review. Whereas it was Rs 992.58 crore in the third quarter of 2018-19 a year ago.
Mumbai: The country’s foreign exchange reserves rose by $ 1.701 billion in the week ended February 7, reaching an all-time record high of $ 473 billion. This information has been given in the latest data of the Reserve Bank. In the previous week, the country’s foreign exchange reserves had increased by $ 4.607 billion to $ 471.3 billion. Foreign currency assets have increased as foreign currency assets have increased in the week under review. During this period foreign exchange assets increased by $ 1.938 billion to $ 439.186 billion. During this period, gold reserves declined by $ 218 million to…
London: Liquor businessman Vijay Mallya has claimed that the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have treated him unfairly in the last four years. Mallya (64), former boss of Kingfisher Airlines, is appealing against the extradition order to India on charges of alleged fraud and money laundering of Rs 9000 crore. Mallya’s lawyers said in the British High Court this week that he had been the victim of a disaster on the aviation industry and that he had no intention of manipulating the airline to seek a loan for the now-shutdown. The Crown Prosecution Service (CPS),…
Mumbai: The Sensex and Nifty fell nearly half a percent on Friday. Earlier on Thursday, the market closed in red. The pressure on banking stocks increased due to the strict stand of the Supreme Court on the non-payment of revenue arrears of Rs 1.47 lakh crore by telecom companies. The 30-share BSE Sensex fell 202.05 points, or 0.49 per cent, to close at 41,257.74. The 22 stocks included in the index closed at a loss. The NSE Nifty fell 61.20 points or 0.50 percent to close at 12,113.50. Banking, auto, FMCG and energy stocks were sold during the day. The…
New Delhi: Car maker Maruti Suzuki launched the CNG variant of its budget range, the popular car WagonR. The ex-showroom price of the WagonR BS6 S-CNG variant has been kept at Rs 5.32 lakh. The CNG model of the WagonR has been launched only in the LXI trim. This is the company’s third model launched with S-CNG technology. Earlier, Maruti Suzuki has also launched the CNG model of Alto 800 (Alto 800) and MPV category car Artiga (Ertiga). The car is part of the company’s ‘Mission Green Million’ that the company announced at the Auto Expo 2020. The CNG model…
New Delhi: The way has been cleared to build the National Gas Exchange. According to sources, PNGRB has got the approval of the Law Ministry to regulate the gas exchange under the existing rules. The Law Ministry has approved the exchange / trading hub. According to sources, PNGRB Act will be amended if required. PNGRB approached the Ministry of Petroleum after the Legal Advisor report. Legal Advisor DSK questioned the authority of PNGRB. According to Legal Advisor, PNGRB does not have the authority to regulate trading hubs. The Legal Advisor also stated that PNGRB does not have the authority to…
New Delhi: Finance Minister Nirmala Sitharaman said on Friday that the government is ready to take more steps apart from budget announcements if needed to speed up the economy. In a discussion with professionals from asset management, property consultancy, tax advisors and other related services on the subject of ‘Budget and beyond’, the Minister also said that the budget for 2020-21 is one that has a positive impact on equity, bonds and money markets. Sitharaman said, “If there is a need to do more than the budget, we are ready to do it.” During the discussion, professionals made several suggestions…
Showcases its latest Spring-Summer Collection Lakme Fashion Week, 2020 Bata, European footwear major and India’s leading footwear brand, announced today its partnership with Lakme Fashion Week, 2020 as their Showcase Partner. After successfully hosting Bata Fashion Weekend (BFW) in Milan and Prague over the last two years, this collaboration is a first of its kind for Bata in India, and is yet another step by the brand towards cementing its image as a fashion-forward brand. LWF X Bata is sure to leave the audiences in awe! The brand is collaborating with stellar designers, including Riddhi Mehra and Pankaj & Nidhi,…
New Delhi: The International Monetary Fund (IMF), while reacting to the recently presented budget, said that India’s current economic climate is weaker than even its earlier estimates. The IMF said that India needs to make ambitious structural and financial reforms soon, so that the treasury will grow in the medium term. For this, India has to work under a strategy. Finance Minister Nirmala Sitharaman presented the budget in the Lok Sabha on 1 February. The Central Government had said that this budget was better for the country and hoped for a big improvement in the near future. IMF spokesman Gerry…
New Delhi: After retail inflation, wholesale inflation is also indicating increasing burden on consumers’ pockets. Wholesale inflation rose to 3.1 percent in January, the highest level in eight months. According to the government data, wholesale inflation has erupted due to increase in the prices of manufactured products. Retail inflation rose to 7.59 per cent, the highest level in the past five and a half years. According to the Ministry of Commerce and Industry, the wholesale price index-based inflation was 2.76 percent in the same month last year. Last December, wholesale inflation stood at 2.59 per cent. According to a statement…
New Delhi: GVK Power and Infrastructure incurred a loss of Rs 120.06 crore in the December quarter of the current financial year on an integrated basis. The company informed BSE on Friday. The company said that it had a loss of Rs 122.61 crore in the same quarter of the previous financial year. The company said that during the quarter under review, its consolidated revenue increased to Rs 1,156.15 crore from Rs 1,109.28 crore a year ago. The company’s stock was up 8.19 percent at BSE at Rs 4.36.
New Delhi: The Supreme Court has reprimanded telecom companies for delay in payment of arrears. During the hearing in the AGR case, the court expressed resentment whether the government officials are above the Supreme Court. MDs of telecom companies have been summoned to the court by issuing notice. MDs have been asked to appear in court and explain why their companies have not deposited the AGR dues so far. Airtel, Voda Idea and Tata Teleservices etc. owe Rs 1.47 lakh. At the same time, the court also questioned the relief of companies from the Department of Telecom. Justice Mishra said,…
New Delhi: Senior IAS officer Rajiv Bansal has been appointed as the new Chief Managing Director of Air India, replacing Ashwani Lohani. Bansal is a 1988 batch Nagaland cadre IAS officer. Presently, he was the Additional Secretary of the Ministry of Petroleum and Natural Gas. Rajiv Bansal has been appointed in his place after the term of Ashwani Lohani ends. Rajiv Bansal has a huge responsibility to properly disinvest Air India. The government had announced to sell 100 per cent stake in Air India. March 17 is the bid submission date. After that further process will be adopted. Let me…