Author: Finance Khabar
New Delhi: Dewan Housing Finance Corporation (DHFL) on Saturday posted a consolidated net loss of Rs 13,095.38 crore in the third quarter ended December 2020 against a net profit of Rs 934.31 crore in the year ago quarter. Sequentially, the company witnessed widening of net loss from Rs 2,122.65 crore in the second quarter ended September 2020. Crisis-ridden DHFL, which is under the process of Corporate Insolvency Resolution Process (CRIP), under the provisions of Insolvency and Bankruptcy Code, 2016 said during this quarter, additional transaction amounting to Rs 1,039.84 crore is identified and reported by the company to stock exchanges…
Mumbai: Shapoorji Pallonji group company Sterling and Wilson Solar Ltd said on Saturday it has signed an order worth 127.5 million dollars (about Rs 930 crore) in the Kom Ombo region of Egypt. The order has been received from Saudi Arabia’s leading renewable energy company and is scheduled to be commissioned by Q1 2022. Sterling and Wilson Solar, one of the leading solar engineering, procurement and construction (EPC) and operations and maintenance (O&M) players in the world, has already executed five projects of over 322 MWp in Benban Solar Park in Egypt. Bikesh Ogra, Director and Global CEO, said the…
New Delhi: Industry organization PHDCCI said on Saturday that the country’s GDP is expected to record a record increase in the third and fourth quarters of FY 2020-21 and due to various reforms undertaken by the government during the last 10 months of the economy is getting strengthened. The organization said in a statement that it has nine positives out of 10 indicators of QET (accelerated economic trends). QETs are indicators of economic and business activity monitoring, supervised by PhDCCI. The Indian economy had a record 23.9 per cent decline in the June quarter, while the second quarter witnessed a…
Mumbai: According to the company, the standalone Q3FY21 net profit fell to Rs 1,378 crore against Rs 4,226 crore reported during the corresponding period of previous fiscal. Similarly, gross revenues declined 28.2 per cent to Rs 17,024 crore against Rs 23,710 crore in FY20. “Despite countrywide lockdown due to Covid-19 pandemic, ONGC has almost reached last year’s production levels in case of crude oil from its operated blocks,” the company said in a statement. “The shortfall in gas production is primarily due to less offtake by customers due to Covid-19 pandemic.” On a consolidated basis, the company reported a rise…
New Delhi: Consolidated loss of debt-ridden telecom company Vodafone Idea in the third quarter of the current financial year 2020-21 was Rs 4532.1 crore. The net loss of the telecom company has decreased compared to the previous financial year. Vodafone Idea had a net loss of 6438.8 crore in the third quarter of October-December 2019 of the last financial year. Revenue through operations declined 1.7 percent in the December quarter. Vodafone Idea Ltd (Vi), the country’s third largest company by market share, reported a net loss of Rs 7218 crore in the second quarter of the current financial year. Net…
Mumbai: German airline Lufthansa has removed 103 flight attendants placed in India from service on demand for a ‘job guarantee’. The company gave him the option of going on leave without pay for two years. Sources connected with the case gave information about this. Sources said that these workers were working on a fixed contract with the airline and some of them had been with the company for more than 15 years. A Lufthansa spokesperson said in a statement to PTI-language that due to the severe financial impact of the Corona virus epidemic there is no other option but for…
New Delhi: Former ICICI Bank CEO and MD Chanda Kochhar has got bail from a special PMLA (Prevention of Money Laundering Act) court. Today, on the morning of February 12, the former MD and CEO of the bank appeared in Mumbai Sessions Court for a hearing. After the hearing, the special PMLA court granted bail to Chanda Kochhar. The court granted bail to Kochhar on a bond of Rs 5 lakh. Apart from this, he has been asked not to leave the country without the approval of the court. Chanda Kochhar got bail from special PMLA court during the hearing…
The central government has increased the upper limit of family pension more than two and a half times after the death of a government employee. Giving this information, Union Minister of State Jitendra Singh said that the maximum limit of family pension has been increased to Rs 1.25 lakh. Earlier this limit was maximum 45 thousand rupees. The Union Minister of State said that after the death of a government employee due to this step, the family members dependent on him will get ease of living and they will get adequate financial security. According to current rules, if a parent…
Last year in December 2020, the rate of growth of industrial production in the country was 1 percent. This figure was released on Friday 12 February. According to the Index of Industrial Production (IIP) data, manufacturing sector output grew by 1.6 percent in December 2020 last year. Mining output declined by 4.8 percent in December 2020, while power generation grew by 5.1 percent. There was a 0.4 percent increase in IIP in December 2019. Industrial production has been severely affected due to the Corona epidemic in 2020 last year. In March last year, IIP had fallen by 18.7 percent. According…
Lucknow: U.P. Women Power Line 1090 launched today “Humari Surakhsa” a digital outreach programme wherein 1090 reaches out to people digitally, creates awareness, and captures data signals to device integrated solutions. In a press conference held today, ADG Neera Rawat shared a digital outreach roadmap for Digital Chakravyuh (360 degree ecosystem for women safety) in Uttar Pradesh. She explained the cons of traditional modes of outreach while outlining the pros of implementing digital outreach. She described their technical edge from having a cross channel digital strategy to having a team of data scientists to execute the mammoth task of generating…
Kolkata: Spearheading revolutions since its inception, Maruti Suzuki India Limited launched ‘People Technology’, a dedicated media campaign to celebrate innovations and technologies that delight its customers. Through this campaign, Maruti Suzuki showcases technologies that have over the years mobilised and empowered millions. The campaign celebrates seven recent path-breaking technologies – Smart Hybrid, S-CNG, K-Series Engines, HEARTECT platform, Suzuki Connect telematics solutions, Smartplay infotainment system and range of Automatic Transmissions introduced by the Company on its wide portfolio of BS6 compliant cars. Through these technological interventions, Maruti Suzuki intends to make a noticeable difference that can enhance the lives of customers.…
New Delhi: According to The Financial Times, the tech giant aimed to acquire Pinterest, a platform popular for sharing and discovering recipes, home ideas, style inspiration and other ideas, to create a portfolio of active online communities that could run on its Cloud computing platform. “The talks were currently not active, said one of the people briefed,” the report said. Both Microsoft and Pinterest declined to comment on the report. Pinterest, whose market value increased more than 600 per cent during the pandemic, plans to remain an independent company. Microsoft earlier made an attempt to acquire TikTok but the deal…
Mumbai: Equity benchmark Sensex rose 222.13 points to reach 51,531.52 at the closure of the stock market on Thursday. The NSE Nifty surged by 66.80 points and settled at 15,173.30. In terms of percentage, the BSE rose 0.42 per cent while NSE 0.43. As per traders, the rise was due to the gains by oil-to-telecoms conglomerate Reliance Industries and positive global cues. In indices, Reliance Industries stocks jumped by 4 pc. Sun Pharma, Bajaj Finance and HCL Tech were other gainers. Titan, L&T, ONGC were among the lagers. Asian and European markets had positive sentiments on Thursday while the Brent…
New Delhi: India’s largest software services firm Tata Consultancy Services (TCS) on Wednesday said it will recruit 1,500 technology employees across the UK over the next year. The announcement followed Monday’s meeting in Mumbai between visiting UK Trade Secretary Liz Truss and TCS CEO Rajesh Gopinathan. During the meeting, the two sides discussed TCS’ commitment to continue investing in the UK economy, innovation, technology sector, and in developing workforce skills. The latest announcement builds on TCS’ 45-year history in the UK. “By partnering with some of the UK’s largest corporations, TCS has been an integral part of the UK economy’s…
Spice Jet has said that it will strengthen its domestic network and in the same order the company is going to start 24 new direct flights in the same month i.e. February. Spice Jet will start these 24 new domestic flights from Ajmer, Jaisalmer, Ahmedabad and Bengaluru to some other cities. The airline said that it is the only airline to start airline on Ajmer-Mumbai route and Ahmedabad-Amritsar route. Booking has started on these routes from today. Spice Jet informed that the new flights also include four new seasonal flights connecting Jaisalmer to Delhi and Ahmedabad. The airline will also…
New Delhi: Hit hard by the pandemic, millions of small and medium businesses (SMBs) in India understand the importance of going digital to revive their businesses, and PC and printer major HP is going beyond just products to help SMBs in their rebound in 2021, a top country executive said on Wednesday. More than 73 per cent of the SMBs in India are confident that they will bounce back after the pandemic. More importantly, 75 per cent of the surveyed businesses believe that digital adoption is essential to their success, according to the recently-released ‘HP SMB Outlook Report 2020’. According…
Yamaha has launched an updated version of its FZ model in the Indian market. The changes made by the company will apply to the entry level 150 cc version. The company has introduced the FZ-S in the Matte Red paint scheme. Apart from this, the FZ-S range is now coming with Bluetooth connectivity. Both the FZ and FDase-S have a side stand engine cut-off feature. If the side stand is engaged and the biker applies the gear, the engine will be cut off. This offers a very safe option for times when the side stand does not remember to disengage.…
New Delhi: India’s gross domestic product (GDP) growth will bounce back to 10.4 per cent year-on-year (YoY) in FY22, primarily driven by the base effect, said India Ratings and Research (Ind-Ra). Accordingly, the ratings agency’s estimates showed that after recording negative growth during 9MFY21, GDP growth will finally turn positive at 0.3 per cent YoY in 4QFY21. “Although the recovery in FY22 on a YoY basis will be V-shaped, the size of the GDP will barely surpass the level attained in FY20 and will be 10.6 per cent lower than the trend value.” “The impact of Covid-19 pandemic and lockdown…
Michael Novogratz, founder of cryptocurrency investment firm Galaxy Digital, believes that bitcoin’s value could be as high as $ 100,000 by the end of this year, he said in an interview that the increase would be due to the fact that most companies use bitcoin to purchase are approving. In an interview to Tesla’s decision to allow customers to buy their electric cars through bitcoin in the future, crypto investor Novagratz said these decisions would have a major impact on the bitcoin market. The report quoted him as saying that you will see every American company do the same in…
New Delhi: NHAI has decided that it will no longer have to maintain minimum balance in Fastag. This facility is only for cars, jeeps or vans, not for commercial vehicles. According to information received from the National Highways Authority of India, now the banks issuing FASTAG cannot make it mandatory to keep any minimum balance other than security deposit. Earlier various banks were also asking to keep minimum balance in addition to security deposit in Fastag. Some banks were asking to keep a minimum balance of Rs 150 and some banks of Rs 200. Being a minimum balance, many FASTag…