Maharashtra plans to take Rs 15,000 crore loan from ABD to build roads
NEW DELHI: Maharashtra PWD Minister Ashok Chavan on Monday said his government was planning to obtain loans to the tune of Rs 15,000 crore from the Asian Development Bank at a nominal rate to build roads and clear the work backlog in the state. Speaking to reporters here, Chavan said the backlog in road work […]
IPL: Delhi Capitals appoint Colonel Vinod Bisht as Interim CEO
NEW DELHI: Indian Premier League (IPL) side Delhi Capitals on Saturday appointed Colonel Vinod Bisht as its interim Chief Executive Officer (CEO). Bisht, a paratrooper with over two decades in the Indian Army, will take charge with immediate effect. Bisht will take over from Dhiraj Malhotra, who held the position for two years. Malhotra parted […]
Indiabulls Housing Finance plans to raise Rs 5,000 crore this quarter
NEW DELHI: Mortgage lender Indiabulls Housing Finance is looking to raise Rs 5,000 crore through the securitisation route in fourth quarter of the current financial year, according to a senior company official. In the three months ended December 31, 2020, it had raised around Rs 2,000 crore through the route. Securitisation is the process of […]
Hiranandani Group to set up Industrial -Logistics and Data Center Park in West Bengal
NEW DELHI: Mumbai based diversified conglomerate -The Hiranandani Group, has entered into an memorandum of understanding (MoU) in the state of West Bengal to set up logistics and hyperscale data center park in the region. The group has signed an MoU to acquire a 100-acre land at Uttarpara, Kolkata to set up an integrated logistics […]
Indian Angel Network plans to invest over Rs 100 crore in start-ups in 2021
NEW DELHI: Venture capital consortium Indian Angel Network (IAN) is planning to invest over Rs 100 crore in start-up firms across sectors in 2021, according to a governance committee member and co-founder of the network. IAN co-founder Padmaja Ruparel told PTI that the consortium members will evaluate opportunities in biotechnology, augmented reality, manufacturing and in […]
18 Tourism projects launched in Kerala
THIRUVANANTHAPURAM: Ramping up tourism facilities state-wide with an aim at boosting the sector, hit hard by the COVID-19 pandemic, the Kerala government on Sunday launched 18 projects, completed at a cost of Rs 40.46 crore. The projects inaugurated by Tourism Minister Kadakampally Surendran through videoconferencing, include destination development of Kovalam Phase 1 — Samudra Beach […]
Final production batch of LRSAM Missiles flagged off
HYDERABAD: The final production batch of Long Range Surface-to-Air Missile (LRSAM), designed and developed by DRDO in collaboration with various industry partners and integrated by BDL, was flagged off at DRDL, A P J Abdul Kalam Missile Complex here on Sunday. The event was held in the presence of G Satheesh Reddy, Secretary, Department of […]
Court convicts Rose Valley group official for money laundering
NEW DELHI: A special PMLA court in Kolkata has convicted an official of a Rose Valley group company and awarded him seven years rigorous imprisonment on money laundering charges, the Enforcement Directorate (ED) said on Saturday. The central probe agency had registered an FIR against the firm, its Chairman Gautam Kundu and others in 2014 […]
Labour Ministry finalises rules under 4 codes, reform to be a reality soon
NEW DELHI: The Ministry of Labour and Employment has finalised rules under the four labour codes paving the way for making reforms a reality by notifying those for implementation soon. The four broad codes on wages, industrial relations, social security and occupational safety, health & working conditions (OSH) have already been notified after getting the […]
Market capitalisation of seven of top-10 most valuable firms jump over Rs 1.40 lakh crore
NEW DELHI: Seven of the top-10 most valuable companies together added Rs 1,40,430.45 crore in market capitalisation last week, in line with a bullish broader market trend with Reliance Industries emerging as the biggest gainer. During the week, the BSE benchmark surged 812.67 points or 1.60 per cent. The companies that witnessed gain in their […]
FASTag declared mandatory from midnight tomorrow
NEW DELHI: Ministry of Road Transport & Highways has decided that all lanes in the fee plazas on National Highways shall be declared as “FASTag lane of the fee plaza” w.e.f midnight of 15th/16th February 2021. Therefore, as per NH Fee Rules 2008, any vehicle not fitted with FASTag or vehicle without valid, functional FASTagentering […]
All steel to be allowed to be used for Highway construction
NEW DELHI: The Ministry of Road Transport and Highways has issued orders that all steel – whether produced from ore, billets, pellets or melting of scrap – would be allowed to be used for National Highway construction, as long as it meets the standards required for specific grades of steel. The steel proposed to be […]
Indian Railways freight revenue surges to Rs 98,000 crore
NEW DELHI: In a heartening new development, first time post Covid, Indian Railway’s cumulative Freight Revenue has surged past last year’s levels and stands at Rs 98068.45 crore as compared to Rs 97342.14 crore to Fy 20-21 in same corresponding. On a month to month basis as well, in first 12 days of February, Railways […]
Narendra Modi inaugurates and lays foundation stones of key projects in Tamil Nadu
NEW DELHI: The Prime Minister Narendra Modi inaugurated and laid the foundation stones for several key projects and handed over the Arjun Main Battle Tank (MK-1A) to the Army, at Chennai today. Speaking in the occasion, the Prime Minister said “these projects are symbols ofInnovation and Indigenous development. These projects will further the growth of […]
Tesla to set up electric car manufacturing unit in Karnataka
BANGALURU: Billionaire Elon Musk’s Tesla Inc will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters on Saturday. “The U.S. firm Tesla will be opening an electric car manufacturing unit in Karnataka,” the state government said in a brief statement. The statement was […]
Prestige Estates’ profit down 59% at Rs 87.8 crore in Q3 FY21
NEW DELHI: Realty firm Prestige Estates Projects Ltd on Thursday reported a 59 per cent fall in consolidated net profit at Rs 87.8 crore for the quarter ended December. Its net profit stood at Rs 216.4 crore in the year-ago period. Total income fell to Rs 1,928.2 crore in the third quarter of this fiscal […]