Haryana government draws flak from industrialists over job quota Bill
GURUGRAM: Industry bodies on Monday criticised the Haryana government’s Bill providing 75 per cent reservation in the private sector to job seekers from the state, saying that the government should have increased the job opportunities by bringing in new investment in the state rather than introducing the reservation policy. Scores of industrialists from Manesar, Gurugram, […]
Ready to discuss bringing petrol, diesel under GST at next Council meet: Nirmala Sitharaman
NEW DELHI: Amidst outcry over high taxes on motor fuel, Finance Minister Nirmala Sitharaman on Tuesday said she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council. State levies and central excise duty account for […]
Sensex ends 280 points higher; Nifty tops 14,800
MUMBAI: Equity benchmark Sensex jumped 280 points on Tuesday following gains in index majors HDFC Bank, ICICI Bank and Reliance Industries despite a weak trend in global markets. The 30-share BSE index ended 280.15 points or 0.56 per cent higher at 50,051.44. The broader NSE Nifty advanced 78.35 points or 0.53 per cent to 14,814.75. […]
Cipla board approves reappointment of Umang Vohra as MD & Global CEO
NEW DELHI: Pharma major Cipla on Tuesday said its board hasapproved the re-appointment of Umang Vohra as the Managing Director and Global CEO of the company for a further period of five years. The board of directorshas considered and approved the re-appointment ofUmang Vohra, Managing Director, designated as ‘Managing Director and Global Chief ExecutiveOfficer’ of […]
Supreme Court restrains banks from charging interest-on-interest on borrower during moratorium
NEW DELHI: The Supreme Court on Tuesday said any amount collected during moratorium period by banks as interest on interest or compound interest, should either be refunded or adjusted against the next EMIs payable by the borrowers. A bench comprising Justices D. Y. Chandrachud, M. R. Shah and Sanjiv Khanna pronounced the verdict. The top […]
Abhimanyu Munjal takes charge as Chairman of CII Northern Region
NEW DELHI: Abhimanyu Munjal and Anshuman Magazine have been elected as the Chairman and Deputy Chairman respectively of CII Northern Region for 2021-22. The proficient incumbents were elected during the first meeting of the newly elected Regional Council members. Mr Munjal will head CII Northern Region which comprises 7 States – Uttar Pradesh, Delhi, Haryana, […]
Adani Ports to acquire controlling stake in Gangavaram Port for Rs 3,604 crore
NEW DELHI: Adani Ports and Special Economic Zone on Tuesday said it will acquire controlling interest in Gangavaram Port Ltd (GPL) from DVS Raju and family for Rs 3,604 crore taking its stake in GPL to 89.6 per cent. GPL is located in the northern part of Andhra Pradesh (AP) next to Vizag Port. Adani […]
BJP promises Rs 6,000 for fishers, crop loan at zero per cent and promises 50 lakh jobs for Tamil Nadu people
NEW DELHI: An annual financial assistance of Rs.6,000 for fishermen; crop loan at zero per cent; enactment of anti-conversion law and implementation of anti-cow slaughter law; free tablets for students, revival of legislative council were some of the promises made by Tamil Nadu BJP in its manisfesto. Releasing the manifesto, Union Minister for Road Transport […]
Delhi High Court stays order restraining Future Retail to go ahead with Reliance deal
NEW DELHI: The Delhi High Court on Monday stayed a single judge’s order restraining Future Retail Ltd from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon. A division bench of Chief Justice D N Patel and Justice Jasmeet Singh […]
Central government’s tax collection on petrol, diesel jumps 300% in six years
NEW DELHI: Central government’s tax collections on petrol and diesel have jumped over 300 per cent in the last six years as excise duty on the two fuels was hiked, the Lok Sabha was informed on Monday. The central government collected Rs 29,279 crore from excise duty on petrol and Rs 42,881 crore on diesel […]
Narendra Modi launches ‘Jal Shakti Abhiyan
NEW DELHI: The Prime Minister Narendra Modi launched the ‘Jal Shakti Abhiyan:Catch the Rain’ campaign on World Water Day i.e today via video conferencing. A Memorandum of Agreement was signed between the Union Minister of Jal Shakti and the Chief Ministers of Madhya Pradesh and Uttar Pradesh to implement the Ken Betwa Link Project, the first […]
PGCIL signs agreement to acquire 74% stake in Jaiprakash Power Ventures Limited
NEW DELHI: Power Grid Corporation of India Limited (POWERGRID Or PGCIL), a Maharatna PSE under Ministry of Power, Government of India has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity. JPL will become a wholly owned subsidiary […]
Mahindra signs contract with Ministry of Defence to supply 1,300 light specialist vehicles to Indian Army
NEW DELHI: Providing further boost to ‘Make in India’, Ministry of Defence (MoD) signed a contract with Mahindra Defence Systems Ltd (MDSL) for supply of 1,300 Light Specialist Vehicles to the Indian Army, at a cost of Rs 1,056 crore, in New Delhi on March 22, 2021. The induction of vehicles is planned to be […]
Piramal Capital & Housing Finance raises Rs 4,050 crore
NEW DELHI: Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of Piramal Enterprises Limited (PEL or the Company), has raised Rs 4,050 crore through issuance of long-term, five-year Non-Convertible Debentures (NCDs) in two tranches. The first tranche of the NCD issue amounting to Rs 2,000 crore opened on March 10, 2021 with a […]
At $36 billion, FPI inflows into equities at record high since FY13: RBI report
NEW DELHI: Foreign portfolio investors have pumped in a record USD 36 billion into equities so far this fiscal up to March 10, which is the highest since FY13, shows the latest data from the Reserve Bank of India (RBI). On the other hand, net foreign direct investment inflows jumped to USD 44 billion, till […]
Gold imports slip 3.3% to $26.11 billion in April-February, jewellery exports fall 34%
NEW DELHI: Gold imports, which have a bearing on the country’s current account deficit (CAD), fell 3.3 per cent to USD 26.11 billion during April-February 2020-21, according to the commerce ministry data. Imports of the yellow metal stood at USD 27 billion in April-February 2019-20. The decline in gold imports has helped in narrowing the […]