Finance Ministry invites bids from actuarial firms for valuing LIC ahead of IPO
NEW DELHI: The finance ministry on Monday invited bids from actuarial firms for arriving at the embedded value of Life Insurance Corporation (LIC) ahead of its stake sale. The government plans to sell minority stake in the insurance behemoth and list it on the bourses. It has already appointed Deloitte and SBI Caps as pre-IPO […]
Bharat Biotech’s Covid-19 vaccine “Covaxin” enters phase-3 trials
NEW DELHI: The Covid-19 vaccine, Covaxin, being developed by Bharat Biotech is now undergoing phase-3 trials, Krishna Ella, Chairman and Managing Director, Bharat Biotech said on Monday. Speaking virtually at a programme organised by the Indian School of Business, Ella said the company is also working on another vaccine for COVID-19 which would be in […]
IIT Guwahati develops method to turn industrial waste into chemicals
NEW DELHI:Researchers at Indian Institute of Technology (IIT), Guwahati, have formulated efficient “pincer” catalytic systems that transform industrial or biomass wastes into valuable chemicals. According to the team, tiny amounts of these “pincer catalysts” repeatedly convert large amounts of industrial waste such as glycerol into lactic acid and hydrogen. Such catalysts also efficiently convert bioethanol, […]
Navneet Munot quits SBI Mutual Fund, set to become MD & CEO of HDFC Mutual Fund
NEW DELHI: HDFC Mutual Fund on Monday said its board of directors had approved the appointment of Navneet Munot as its next managing director and chief executive officer. Munot, who was the chief investment officer of SBI Funds Management, will succeed the present managing director Milind Barve,HDFC Mutual Fund said in a filing to the […]
Patanjali’s Ruchi Soya to launch follow-on offering next year: Swami Ramdev
NEW DELHI: Edible oil firm Ruchi Soya, which is owned by Patanjali Ayurved, will launch a follow-on public offer (FPO) next year to bring down promoters’ shareholding in the company, said Swami Ramdev. Patanjali Group has run Ruchi Soya efficiently after the acquisition last year, he said,and expected higher growth during the current fiscal year. […]
I-T profiling to help revenue department nab fraudsters claiming fake GST credits
NEW DELHI: The government of India proposes to match GST data mentioned in Form 26AS with the turnover numbers provided while filing income tax returns. The move is aimed at identifying unscrupulous persons who try to avail or pass on input tax credit fraudulently by generating fake invoices. In such cases, the revenue department had […]
NBCC bags orders worth Rs 1,165 crore in October
NEW DELHI: State-owned construction firm NBCC (India) Ltd on Monday said it has bagged business orders worth Rs 1,165.52 crore last month. “NBCC (India) Limited has secured the total business of Rs 1,165.52 crore in the month of October 2020,” the company said in a BSE filing. Last week, NBCC reported a consolidated net profit […]
Nitish Kumar takes oath as Chief Minister of Bihar for seventh time
NEW DELHI: Nitish Kumar was on Monday sworn in as Chief Minister of Bihar for his fourth successive term. Governor Phagu Chauhan administered the oath to Kumar at the ceremony at Raj Bhavan. Those who were administered oath of office included two Deputy Chief Minister designates Tarkishore Prasad and Renu Devi, both from the BJP, […]
Sharad Pawar to tour North Maharashtra on November 20-21
NEW DELHI: NCP chief Sharad Pawar will visit North Maharashtra on November 20 and 21 during which he will interact with party workers there, sources said on Monday. The former Union minister is likely to visit Jalgaon, Dhule and Nandurbar districts of the region during the tour, the sources said. This will be Pawar’s first […]
Gurugram: Accused involved in Rs 400 crore fraud with Citibank held
NEW DELHI: A man involved in a Rs 400 crore fraud case with Citibank in 2010 was arrested by the Gurugram police, officials said on Sunday. The accused was arrested then but he was on bail granted by the court. But later on the accused didn’t appear before the court and was declared a proclaimed […]