Author: Finance Khabar
The net profit of Haridwar-based Patanjali Ayurved Limited has increased by 21.56 per cent to Rs 424.72 crore in FY 2019-20. Business information platform Toffler gave this information. According to Toffler, the company had registered a net profit of Rs 349.37 crore in the previous financial year 2018-19. Toffler further stated that Patanjali Ayurved’s revenue from operations stood at Rs 9,022.71 crore in the financial year ended 31 March 2020, which is 5.86 per cent higher than Rs 8,522.68 crore in the previous financial year. The total revenue of the company was Rs 9,087.91 crore in FY 2019-20, which was…
New Delhi: The ministry of new and renewable energy had amended guidelines of of Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) Scheme is expanding its scope to include new areas for setting up of solar power plants in rural agricultural areas. The scheme so far allowed power plants only on barren, fallow and agricultural land. But with the changes, solar power plants can now also be installed on pastureland and marshy land of farmers. Changes have also been made on the size of the power plant so that it makes it easier even for small farmers to invest…
Due to weak global cues, domestic stock market has also seen pressure. In today’s business, both the Sensex and the Nifty have closed in the green mark. The Sensex has gained 86 points and closed at the level of 43,443.00. At the same time, the Nifty climbed 33 points and closed at 12719 level. In today’s business, there has been a good boom in Pharma and Realty shares. Bank and financial stocks also recovered. Bajaj Finserv and Tata Steel are the top gainers of today. At the same time, L&T and HDFC Bank were the biggest losers. Talking about global…
New Delhi: NTPC’s research project on production of Geo-polymer coarse aggregate from fly ash has met the statutory parameters of Indian Standards and confirmed by National Council for Cement and Building Materials (NCCBM). NTPC has developed Geo-polymer coarse aggregates as a replacement to natural aggregates. The technical parameters as per Indian standards for its suitability to use in concrete works were tested by NCCBM, Hyderabad and the results are in acceptable range. The development is NTPC’s R&D achievement in expanding the horizon in ash utilisation. India’s demand for these aggregate touches close to 2,000 million metric tonne mark every year.…
New Delhi: Finance Minister Nirmala Sitharaman on Thursday said the Indian economy was witnessing a strong recovery. Addressing the media here, Sitharaman cited several data, including the growth in Composite Purchase Managers Index (PMI), GST collections, FDI inflow and the stock markets’ recent surge to record highs to show a strong revival of the Indian economy. She also said that bank credit has grown by 5.1 per cent on a year-on-year basis. FDI inflows in April-August stood at $35.37 billion, 13 per cent higher on a year-on-year basis. The minister noted that prominent economists have suggested that the rebound has…
New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) said life insurers can dispense with getting the wet signature of a prospective policyholder on the proposal form till March 31, 2021. According to IRDAI, life insurers should send the completed proposal form, benefit illustration and suitability assessment to the registered email id or mobile phone number of the proposer. The proposer can give his/her consent by affixing digital signature or clicking the confirmation link or by validating the one time password (OTP) that was shared.
New Delhi: Traders across the country are disappointed with the third Stimulus package announced today by Finance Minister Nirmala Sitharaman. The Confederation of All India Traders (CAIT), an organization that claims to represent around seven crore small traders in the country, has said this. CAT national president BC Bhartia and general secretary Praveen Khandelwal issued a statement here saying that this is a neglect of the business community. He said that it is a matter of great regret that in the three incentive packages announced by Finance Minister Nirmala Sitharaman, not a single penny has been allocated for traders. This…
PUBG MOBILE is coming back to India, PUBG Corporation, the subsidiary of South Korea’s KRAFTON, Inc., today announced that it is preparing to launch PUBG MOBILE INDIA, a new game created specifically for the Indian market. PUBG Corporation is planning to bring back the popular battle royale game in a new version by creating its Indian subsidiary, and investments as much as $100 million USD for the Indian market. More than two months ago, PUBG MOBILE was banned in India by the Government of India under the section 69A of the Information Technology Act, however, PUBG Corporation started working on…
New Delhi: According to the Consumer Price Index (CPI) data released by the government on Thursday, inflation stood at 7.27 per cent in September 2020. It was 4.62 per cent in October 2019. The rise in general inflation was mainly on account of elevated food prices. As per the data, the Consumer Food Price Index (CFPI) rose to 11.07 per cent in October, up from 10.68 per cent in the previous month of September. The RBI, which mainly factors in retail inflation while arriving at key policy rates, has been mandated by the government to keep inflation at 4 per…
New Delhi: As part of efforts to revive the derailed Covid-19-hit economy, the Modi government on Thursday announced a ‘Atmanirbhar Bharat 3.0 package’ and ‘Atmanirbhar Bharat Rozgar Yojana’ for those who lost their jobs during the pandemic. Announcing this at a press conference here, Finance Minister Nirmala Sitharaman said and Minister of State for Finance Anurag Thakur said that 12 schemes are being announced in this new package. The Finance Minister said that recent figures are showing signs of improvement in the economy. The GST revenue collection has reached Rs 1.05 lakh crore in October. She said that Reserve Bank…
Mumbai: The equity market got a brake on Thursday, after rally of eight sessions as the BSE Sensex slipped by 236.48 pts to settle at 43,357.19 as selling was seen in Bankex, Finance, Utilities and Energy stocks amid weak Asian Market. The Nifty of national stock exchange too fell by 58.35 pts at 12,690.80. The day opened on a weak note at 43,291.89, sliding by 302 pts. During the day it was nosedived by 466 pts to 43,127.55, days low before closing at 43,357.19, down by 236.48 pts from its previous close. The sensex registered days high and low at…
New Delhi: In yet another setback for the struggling Indian economy, the Reserve Bank of India has projected that the economy is likely to enter into a technical recession for the first time in history at the end of the first half of 2020-21. India has already witnessed a worrying decline of 23.9 per cent in the GDP for April-June quarter which was a result of nationwide lockdown induced due to the coronavirus pandemic. However, before the pandemic too, the World Bank had projected India’s economy to grow a mere 4.5 per cent. The RBI also said that the NSO…
Gland Pharma issue subscribed over 2.05 times Meerut: The biggest issue of the pharma industry became oversubscribed. The Rs 6480 crore issue of Gland Pharma has become the biggest issue in the pharma industry so far. The company has raised Rs 1943.86 crore from Anchor Investors. Gland Pharma has allotted 12,959,089 equity shares to anchor investors at an upper price band of Rs 1500 per equity share. 70 global and domestic funds have joined Gland Pharma as anchor investors. The price band of the IPO was fixed at Rs 1490 to Rs 1500 per equity share. It is being told…
ndian Banks’ Association (IBA) along with four unions in the banking sector on Wednesday jointly announced that their three-year wage talks finally resulted in a written agreement. In a joint circular issued to their members the four unions – All India Bank Employees’ Association (AIBEA), National Confederation Bank Employees (NCBE), National Organisation of Bank Workers (NOBW) and Indian National Bank Employees Federation (INBEF) said the 11th Bipartite Settlement on revision of wages and improvement in service conditions of bank employees has been signed today (Wednesday) with IBA at Mumbai. The increase in the wage bill will be about Rs 3,385…
New Delhi: The company had posted a loss of Rs 28.25 crore for the year-ago period, Nalco said in a filing to BSE. The company”s income during July-September period declined to Rs 2,399.05 crore from Rs 2,420.11 crore in the year-ago period, the filing said. “The year began with unforeseeable challenges, which has affected the entire world. NALCO collective rose to the challenge and braved all odds to overcome the sluggishness in the market and get the business operations back on track amidst the pandemic. “The company is geared up to take all necessary actions to remain competitive, deliver world-class…
New Delhi: The company had registered a consolidated net loss of Rs 22.32 crore in the corresponding quarter of the previous financial year, according to a BSE filing. Its total income during July-September 2020 rose to Rs 917.80 crore, compared with Rs 545.43 crore in the year-ago period. The consolidated results include the results of GE Power India Ltd (GEPIL) and its subsidiary GE Power Boilers Services Ltd. The group’s business activity falls within a single operating segment — power generation equipments and related services. In a statement, GE Power India Managing Director Prashant Jain said, “We have achieved positive…
Mumbai: Its profit in the year-ago period stood at Rs 772.20 crore. On a consolidated basis, the company reported about 3 per cent rise in net profit at Rs 789.67 crore for September quarter of this fiscal year. “Our portfolio growth was muted. In April and May, there was no business and it got spilled over to this quarter. With competitive interest rates in the market, we received many applications for re-writing, which also had some bearing on our total profitability,” Managing Director and CEO Siddhartha Mohanty said. During the quarter, total disbursements were Rs 12,443 crore as against Rs…
New Delhi: The Cabinet Committee on Economic Affairs on Wednesday approved the continuation and revamping of the scheme for financial support to the Public Private Partnerships (PPPs) in Infrastructure Viability Gap Funding (VGF) Scheme till 2024-25, with a total outlay of Rs 8,100 crore. Addressing a press conference after the Cabinet meeting, along with Union Finance Minister Nirmala Sitharman, Information and Broadcasting Minister Prakash Javadekar said the revamped scheme is mainly related to introduction of two sub-schemes (Sub scheme -1 and Sub scheme -2) for mainstreaming private participation in social infrastructure. The Cabinet meeting, chaired by Prime Minister Narendra Modi,…
Lucknow: Spread across an area of nearly 50,000 square feet, the facility will support Flipkart’s ability to deliver a wide selection of grocery products to consumers in the cities of Lucknow, Kanpur and Allahabad. This is the e-commerce major’s first grocery centre in Uttar Pradesh. According to the company’s official spokesman, the new centre will create more than 500 direct and thousands of indirect job opportunities as the company establishes its supply chain working with a host of local transport contractors, staffing vendors, security agencies, consumable suppliers and other administrative and housekeeping agencies across the state. This new fulfilment centre…
Kolkata: The miner had posted a net profit of Rs 3,523 crore in the year-ago period. The company’s revenue from sales was at Rs 19,484 crore during the quarter under review as against Rs 18,986 crore registered in the corresponding period last year, the miner said in a regulatory filing in the stock exchanges. Contractual expenses jumped sharply by about Rs 1,000 crore to Rs 3,311 crore in three months ended on September 30, 2020. The company also said its board of directors approved an interim dividend at a rate of Rs 7.50 per share for 2020-21 fiscal. The Maharatna…