Tatas say Mistry left Board meeting, wrote nasty email Supreme Court reserves verdict
NEW DELHI: The long-drawn legal battle between Ratan Tata and Cyrus Mistry has reached finality, after the Supreme Court on Thursday reserved its verdict on the cross-appeals by Tata Sons and Cyrus Investments, challenging the NCLAT order, which restored Mistry as the Executive Chairman of the Tata conglomerate. Senior advocate Harish Salve, representing Tata Sons, […]
‘Auto price hikes to dampen recovery after festive boost’
NEW DELHI: Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday. Accordingly, the ratings […]
Sugar production rises over 61 percent to 73.77 lakh tonne till December 15
NEW DELHI: Around 460 sugar mills in operation till December 15 in the current sugar season 2020-21 (October-September) have produced 73.77 lakh tonnes of sugar, up 27.96 lakh tonnes or 61 percent as compared to the sweetener produced in the corresponding year ago- period, as per the production data released by the ISMA on Thursday. […]
ZEEL to acquire film production, distribution from Zee Studios
NEW DELHI: The Board of Zee Entertainment Entertainment Ltd (ZEEL) on Thursday has approved the acquisition of film production and distribution business from Zee Studios Limited, a wholly owned subsidiary of the former for a cash consideration of Rs 275 crore. This transaction comprises the acquisition of the business undertaking pertaining to film production and […]
Net direct tax collection in FY21 down 13%
NEW DELHI: Tax collection has been subdued amid the pandemic and the net direct tax collections so far in the current financial year declined by 13 per cent to Rs 5.87 lakh crore, sources said. During the corresponding period (April 1 – December 17) of last financial year, the net collections stood at Rs 6.80 […]
Trial run on 343 km DFCC’s Bahupur-Khurja section successful
NEW DELHI: The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) conducted successful trial runs of two fully-loaded freight trains on the 343 km long Bhaupur-Khurja section of Eastern Dedicated Freight Corridor (EDFC) at a speed of 100 kmph. The trial run was done on December 11. The trains were remotely flagged-off from both Khurja […]
Tata Motors to buy Marcopolo’s stakes in bus, coach JV for Rs 99.96 crore
NEW DELHI: Indian automobile major Tata Motors Ltd on Thursday said it would buy the 49 per cent stakes of Marcopolo S.A. in the bus and coach making joint venture Tata Marcopolo Motors Ltd for Rs 99.96 crore. In a regulatory filing, Tata Motors said that as a consequence of its refreshed business strategy, Marcopolo […]
Now Meghalaya’s Lakadong turmeric reaches USA
NEW DELHI:A United States of America (USA) firm has collaborated with Farmer Producer Organisations (FPOs) to manufacture nutraceuticals from turmeric ‘Lakadong’, a special turmeric variety that grows in India’s Meghalaya. In this regard, Union Agriculture Minister Narendra Singh Tomar and Meghalaya Chief Minister Conrad K. Sangma on Thursday launched the famous ‘Lakadong’ turmeric in the […]
L&T Hydrocarbon lowest bidder for HPCL Rajasthan Refinery
NEW DELHI: L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has emerged as the lowest bidder for HPCL Rajasthan Refinery Ltd’s two engineering, procurement, construction and commissioning (EPCC) packages, coming up at Barmer in Rajasthan, according to sources. HRRL opened the financial bids submitted by the 2 bidders (Petrofac and L&T Heavy […]
Exim Bank forecasts India’s Q3 Non-Oil exports to hit $ 68.3 billion
NEW DELHI: Export-Import Bank of India (India Exim Bank) forecasts India’s Non-Oil exports for the third quarter of FY2021 to amount to $ 68.3 billion, witnessing a marginal positive growth of 0.3 per cent over the corresponding quarter of the previous year, after three consecutive quarters of contraction. On the other hand, total merchandise exports […]
At this stage, farmers’ protest should be allowed to continue: Supreme Court
NEW DELHI: The Supreme Court on Thursday unequivocally pronounced that it will not interfere with the farmers’ protest as the right to protest is fundamental right, but emphasised on forming a committee comprising independent and impartial persons, including domain experts, to resolve the impasse between Centre and farmers unions. A bench headed by Chief Justice […]
Land acquisition for Patna Metro depot to start next week
PATNA: The process of acquiring 76 acres of land for a depot of Patna Metro project is expected to start from next week, an official said on Thursday. According to the official, soil testing and other technicalities pertaining to the underground stretches as well as elevated tracks have been completed. A Metro depot is projected […]