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Showing posts from July, 2018

CBI arrests Saket SHO in bribery case, books Unitech founder Ramesh Chandra

It is alleged that the Saket court had referred 47 cases related to the Unitech Ltd to Saket police station for probe. from Moneycontrol Business News https://ift.tt/2OrjDzz

Karuna to have extended stay in hospital; Rahul meets him

Congress chief Rahul Gandhi, met the 94- year-old leader at the Kauvery Hospital. from Moneycontrol Business News https://ift.tt/2Ao9VuG

SBI General Q1 net profit up 126%; wipes out accumulated losses

Gross written premium collected grew by 52 percent to Rs 1,011 crore in the first quarter. from Moneycontrol Business News https://ift.tt/2n13ft0

Call drop: Trai sets new quality norms for 4G networks

The regulator has mandated telecom operators to ensure that not more than or equal to 2 percent of total data packets transmitted during uplink and downlink of calls should be lost so that customers get to experience better call quality. from Moneycontrol Business News https://ift.tt/2AstTob

GSFC Q1 net profit up 75%

Its net profit stood at Rs 40.52 crore in the same quarter last fiscal, the company said in a regulatory filing. from Moneycontrol Business News https://ift.tt/2mZ8BoJ

Madras HC upholds acquittal of ex-minister in colour TV scam

Dismissing the appeal filed by the CBI against the 2009 order by the lower court, Justice G Jayachandran said the prosecution had failed to conduct the investigation properly and collect adequate material to substantiate the charges. from Moneycontrol Business News https://ift.tt/2M56GtE

EIH Q1 net profit dips 12% to Rs 10 cr

Company#39;s total revenue for the quarter under consideration stood at Rs 343.46 crore for the quarter under consideration. from Moneycontrol Business News https://ift.tt/2AshWPi

TI Financial clocks standalone Q1 net profit of Rs 2.43 crore

The city-based Murugappa Group company had recorded a net loss of Rs 0.34 crore during the same period last year. from Moneycontrol Business News https://ift.tt/2OvZvMw

JK Paper Q1 profit up 58 pc to Rs 95 cr

The company had posted a net profit of Rs 60.11 crore in April-June quarter a year ago, JK Paper said in a BSE filing. from Moneycontrol Business News https://ift.tt/2ApFqV8

Need for relook at payments norms to keep pace with tech changes, says Niti Aayog

The digital payments market In India is expected to grow to USD 1 trillion by 2023 led by growth in mobile payments, presenting huge business opportunities for players in the digital space, he said at the launch of Niti Aayog report -- #39;Digital Payments - Trends, Issues and Opportunities. from Moneycontrol Business News https://ift.tt/2Oy37xR

Edelweiss Tokio Life partners with Fincare Small Finance Bank; to offer savings, protection plans

The bank will sell the insurance products across its branches from Moneycontrol Economy News https://ift.tt/2vlStkU

Will RBI hike or hold? Experts think it will be a close call this time

If the RBI#39;s expectation of inflation increases to higher than the prevalent inflation levels, we may see another rate hike on Wednesday from Moneycontrol Economy News https://ift.tt/2mZ239D

BEML awaiting clarity on bullet train coaches#39; indigenisation

"We are keen in the indigenisation of bullet train coaches. BEML had tied up with Japanese company Hitachi in this regard. There is nothing final yet on the quantum of the indigenisation project or total order for the coaches," BEML Chairman and Managing Director D K Hota said. from Moneycontrol Business News https://ift.tt/2NZQ6f4

Brent crude set for biggest monthly drop since 2016

OPEC increased production in July by 70,000 barrels per day (bpd) to 32.64 million bpd, a high for the year. from Moneycontrol Business News https://ift.tt/2NUIRFg

Ayushman Bharat: Insurance companies left in lurch as states opt for trust-based models

In a trust-based model, each state will form its own trust to manage the scheme and claims will be paid from a corpus created from central and state government contributions from Moneycontrol Business News https://ift.tt/2OwsDTZ

Gold heads for fourth month of losses, worst streak since 2013

The dollar was flat versus a currency basket, following a three month streak of gains, with the U.S. Federal Reserve set to reaffirm the outlook for further gradual rate rises at the end of its two-day rate review through Wednesday. from Moneycontrol Business News https://ift.tt/2vllVHH

MEA cites privacy clause to stonewall queries about Nirav Modi’s passport status

A Right to Information query was filed regarding this case with the Ministry of External Affairs in June, asking for details on the status of his passport. from Moneycontrol Business News https://www.moneycontrol.com/news/business/mea-cites-privacy-clause-to-stonewall-queries-about-nirav-modi’s-passport-status_11233361.html

Trai views on spectrum auction this week: RS Sharma

The government is planning to hold the largest-ever spectrum auction of 3,000 MHz radiowaves in the next round of sale, and the regulator#39;s ensuing views will wrap up almost year-long consultation over the issue. from Moneycontrol Business News https://ift.tt/2LJ6dRS

Over 15,000 non-compliant firms likely to lose registration in Andhra Pradesh, Telangana

According to official sources at the Registrar of Companies (RoC) here, over 20,000 companies were de-registered last year due to non-compliance. from Moneycontrol Business News https://ift.tt/2NUOnYz

Online traders body plans protest if govt allows hybrid marketplace model

The government on July 30 discussed about the need to ease out FDI regulation in inventory based e-commerce segment in a meeting with representatives of the industry. from Moneycontrol Business News https://ift.tt/2LH7Z5C

Tata Motors to stop manufacturing ops in Thailand

Tata Motors is committed to the ASEAN region wherein Thailand is an important market and the company endeavours to continue serving customers as it transitions to the new operating model, it added. from Moneycontrol Business News https://ift.tt/2vlSqW5

Setco Automotive posts net profit of Rs 8.1 cr in June qtr

The company had reported a net loss of Rs 11.8 crore in the year-ago period. from Moneycontrol Business News https://ift.tt/2OuPy1X

Hathway Cable Datacom plans to deleverage by Rs 500 crore by March 2020

Hathway#39;s cable operations straddle across key Indian geographies and offers cable television services across 140 cities and towns and cable broadband services across 21 cities. from Moneycontrol Business News https://ift.tt/2Kcc5NP

Mahindra may not upgrade some models to BS-VI, says Pawan Goenka

A call will have to be taken about the future of those products that are low in volume from Moneycontrol Business News https://ift.tt/2Kde0l9

IIFL Holdings Q1 net profit up 36 pc at Rs 345 cr

The company#39;s net profit in the corresponding April-June period of 2017-18 fiscal stood at Rs 252.71 crore. from Moneycontrol Business News https://ift.tt/2M1Vyh0

LS grants more time to jt panel on Citizenship Amendment Bill

The committee was been given time till the first day of the last week of the Winter Session to submit its report. from Moneycontrol Business News https://ift.tt/2M67Yoj

General Atlantic gets CCI nod to buy stake in IIFL Wealth

In a tweet today, the Competition Commission of India (CCI) said it has approved "acquisition of 5,66,500 equity shares of IIFL Wealth Management Ltd by General Atlantic Singapore Fund, pursuant to exercise of its pre-emptive rights". from Moneycontrol Business News https://ift.tt/2M8fbE3

Maha food rule can reduce multiplex profits by 200bps: Crisil

The rating agency estimates that multiplexes in the state will be required to increase ticket prices by Rs 70 to offset the impact on the food and beverages (FB) division, while observing that such a sharp hike may not go well with movie-goers. from Moneycontrol Business News https://ift.tt/2OsRgRk

Infra sector growth jumps to 7-month high of 6.7% in June

The previous high rate of growth was recorded in November 2017 at 6.9 percent. from Moneycontrol Business News https://ift.tt/2vrmFey

Sebi imposes Rs 5 lakh fine on Anand Rathi in Datsons IPO case

The Securities and Exchange Board of India (Sebi) conducted an investigation in the matter of initial public offer (IPO) by Datsons (formerly known as Aanjaneya Lifecare) during the period of May-June 2011 to ascertain any possible violation regulations. from Moneycontrol Business News https://ift.tt/2OuP5Ne

Fiscal deficit shows improvement in Q1 on higher revenue

The government had budgeted to cut fiscal deficit to 3.3 percent of GDP in the current fiscal, from 3.53 percent in 2017-18. from Moneycontrol Business News https://ift.tt/2votr4z

Sebi to empanel auditors to conduct forensic audits of listed cos

Sebi has now invited applications from eligible CA firms "for empanelment to take up assignments relating to forensic audit of financial statements of listed companies". from Moneycontrol Business News https://ift.tt/2LIENeV

Govt to withdraw FRDI bill; writes to Parliamentary panel

The Union Cabinet had earlier this month decided to withdraw the legislation in view of the concerns expressed by certain sections of people, including politicians, over the #39;bail-in#39; clause, which they feared would harm the interest of depositors. from Moneycontrol Business News https://ift.tt/2vlwVoA

Solar water pumps can help India surpass 100 GW target: Report

A preliminary assessment shows that replacing 100 percent of all agricultural consumption in the next five years would require a total solar PV installed capacity of close to 150 GW. from Moneycontrol Business News https://ift.tt/2Oxr1Jx

Cryptocurrency exchange Coinbase hires first chief compliance officer

For the past three years Horowitz has served as global head of compliance for Pershing LLC, a subsidiary of Bank of New York Mellon Corp. Pershing handles approximately $1.8 trillion in client assets. from Moneycontrol Business News https://ift.tt/2AsUnG6

Govt seeks parliament nod for $143 million capital injection in Air India

The government has "sought funds for infusion of equity in Air India under (its) turn around plan," a statement tabled in the lower house of parliament said. from Moneycontrol Business News https://ift.tt/2O0OphN

Tata Motors Q1 net loss at Rs 1,862 crore, misses estimates by huge margin

India’s biggest automaker Tata Motors on Tuesday reported a consolidated net loss for the quarter ended June at Rs 1862.57 crore, missing estimates by a huge margin. from Moneycontrol Business News https://ift.tt/2OuRmbj

JM Financial MF to change fund managers of 2 funds from Aug 1

JM Dynamic Debt Fund will now be managed by Vikas Agrawal, while Shalini Tibrewala will oversee JM Money Market Fund from Moneycontrol Business News https://ift.tt/2vnr0z3

Deepak Parekh re-appointed as director even as 22.64% HDFC shareholders voted against

HDFC had to come out with special resolution for re-appointment of its Parekh as he would cross the age of 75-year on October 18 next year. from Moneycontrol Business News https://ift.tt/2OuPpeZ

Indian government seeks parliament nod for $143 million capital injection in Air India

The government has "sought funds for infusion of equity in Air India under (its) turn around plan," a statement tabled in the lower house of parliament said. from Moneycontrol Business News https://ift.tt/2vnqVeJ

Union Mutual Fund appoints two fund managers for equity savings scheme

Parijat Agrawal and Hardick Bora will be co-managing Union Equity Savings Fund from Moneycontrol Business News https://ift.tt/2NXOF0H

Give public sector banks more autonomy, says Ravi Venkatesan

"Public sector banks are systemically more accident-prone," Venkatesan said. from Moneycontrol Business News https://ift.tt/2LRzFEn

Tata Motors Q1 net loss at Rs 1862 crore, way below estimates

India’s biggest automaker Tata Motors on Tuesday reported a consolidated net loss for the quarter ended June at Rs 1862.57 crore, missing estimates by a huge margin. from Moneycontrol Business News https://ift.tt/2NZbnWm

An evening walk down Dalal Street | Bull run continues on D-Street as Sensex, Nifty end at record closing highs

In fact, the upmove also ensured that the market ended on an extremely strong note in July, gaining around 6 percent. from Moneycontrol Market Reports https://www.moneycontrol.com/news/local-markets/an-evening-walk-down-dalal-street-|-bull-run-continuesd-street-as-sensex-nifty-end-at-record-closing-highs_11230421.html

Exclusive | Third party insurance premium on commercial vehicle could be cut by 10%

The transport union had been demanding a cut in insurance premium after the premium was hiked in the range of four to 30 percent for 2018-19 from Moneycontrol Economy News https://www.moneycontrol.com/news/economy/exclusive-|-third-party-insurance-premiumcommercial-vehicle-could-be-cut-by-10_11230341.html

GST a transformational economic reform, says Baba Kalyani

The impact that GST has had on “ease of doing business” has been phenomenal from Moneycontrol Business News https://ift.tt/2AqHOeB

Exclusive | Third party insurance premium on commercial vehicle could be cut by 10 percent

The transport union had been demanding a cut in insurance premium after the premium was hiked in the range of four to 30 percent for 2018-19 from Moneycontrol Economy News https://www.moneycontrol.com/news/economy/exclusive-|-third-party-insurance-premiumcommercial-vehicle-could-be-cut-by-10-percent_11230341.html

Rs 830 cr recovered from drug firms for overcharging: Govt

Since the inception of National Pharmaceutical Pricing Authority (NPPA) till May this year, 1,794 demand notices were issued to drug companies for overcharging patients, Union Minister Mansukh L Mandaviya said in a written reply to the House. from Moneycontrol Economy News https://ift.tt/2vliu3O

India#39;s weak banking system to strengthen over 2 years: SP

In its report titled #39;The Worst Is Almost Over For India#39;s Banks#39;, SP said the ratings on the banks are "more likely to be raised than lowered" in the next 2 years. But, weak risk management and internal-control practices limit the potential for considerable upside, it said. from Moneycontrol Economy News https://ift.tt/2n49goZ

US-China trade dispute likely to escalate further, may derail global growth: Moody#39;s

The trade dispute would stop short of full implementation of the most severe potential measures announced so far, including tariffs on all US automotive imports or a breakdown of The North American Free Trade Agreement (NAFTA), Moody#39;s said in a report titled #39;Trade - Cross-Sector: Global Trade Monitor-July#39;. from Moneycontrol Economy News https://ift.tt/2Ouc2A0