Andhra Pradesh faces debt burden of Rs 3.73 lakh crore: CAG
By Surya Desaraju AMARAVATI: The Andhra Pradesh government’s gross debt burden has increased to Rs 3,73,140 crore by the end of November 2020. CAG’s latest accounts revealed that from April to November 2020 alone Rs 73,811.85 crore was borrowed from different sources as against the annual target of Rs 48,295.59 crore for the whole year. […]
Shivraj Singh Chouhan expands his cabinet, 2 Jyotiraditya Scindia loyalists return as ministers
BHOPAL: The Shivraj Singh Chouhan-led Madhya Pradesh cabinet was expanded on Sunday with the induction of two loyalists of BJP leader Jyotiraditya Scindia, whose exit from the Congress in March last year led to the fall of the 15-month-old Kamal Nath-led Congress dispensation in the state. Governor Anandiben Patel administered the oath of office to […]
Competition Comm to have regional presence; more streamlined processes: CCI chief
NEW DELHI: As it seeks to become more nimble as well as strengthen its prowess to clamp down on unfair business ways, the Competition Commission of India (CCI) plans to further streamline processes and also have its regional presence. The CCI, which has the mandate to check anti-competitive practices and also encourage fair business ways […]
Aiming India sales this year to be over 2019 levels: Lamborghini
NEW DELHI: Italian super luxury carmaker Lamborghini expects its sales in India this year to be more than 2019 levels after witnessing good traction in the later part of last year, recovering from the pandemic-induced disruptions, according to a senior company official. The company is hoping that there is no change in the tax structure […]
Reliance, BP commit to pay for any shortfall in KG-D6 production to buyers
NEW DELHI: Reliance Industries Ltd (RIL) and its partner BP Plc of UK have committed to pay in cash for any natural gas volumes they are unable to deliver to customers from the next wave of discoveries in the eastern offshore KG-D6 block. According to draft gas sales and purchase agreement (GSPA) Reliance and BP […]
Discoms’ outstanding dues to power gencos rise 35 per cent to Rs 1.41 lakh crore in November
NEW DELHI: Power producers’ total dues owed by the distribution firms rose over 35 per cent to Rs 1,41,621 crore in November 2020, reflecting stress in the sector. The distribution companies (discoms) owed a total of Rs 1,04,426 crore to power generation firms in November 2019, according to portal PRAAPTI (Payment Ratification And Analysis in […]
Maruti Suzuki India reports 20% rise in December vehicle sales
NEW DELHI: Automobile major Maruti Suzuki India (MSI) reported an increase of 20% in its overall sales during December 2020 on a year-on-year basis. Maruti Suzuki India Limited posted total sales of 160,226 units in December 2020. With total sales of 495,897 units in Q3 (FY 2020-21) the company registered a growth of 13.4% over […]
Toyota Kirloskar logs 7,487 units sales in December
NEW DELHI: Indo-Japanese joint venture car maker Toyota Kirloskar Motor on Friday said it closed last month’s sales at 7,487 units. In a statement the company said it sold 7,487 units last month up from 6,544 units sold in during the corresponding period previous year. “As we wrap up the year, we are happy to […]
Ashok Leyland sells 12,762 trucks in December 2020
NEW DELHI: Commercial vehicles major Ashok Leyland Ltd on Friday said it closed last month with a sales figure of 12,762 units. In a statement the company said it sold 12,762 units last month up from 11,168 units sold in December 2019. Cumulatively this fiscal till last month the company had sold 56,657 units down […]
Hyundai Motor India’s overall December sales up 33.14%
NEW DELHI: Hyundai Motor India on Friday reported overall sales including exports grew by 33.14 per cent during December despite the Covid-19 pandemic. The company’s overall sales grew to 66,750 units from 50,135 units sold during December 2019. Similarly, the company’s domestic sales rose during the month under review. It edged higher by 24.89 per […]
Hero MotoCorp logs over 5% growth in December 2020 sales
NEW DELHI: Two-wheeler manufacturer Hero MotoCorp on Friday reported a rise of 5.29 per cent in its overall sales for December 2020. The company sold 447,335 units of motorcycles and scooters last month from an off-take of 424,845 units during the corresponding month of the previous year. Besides, the Hero MotoCorp clocked “its best ever […]
Bajaj Auto’s market capitalisation crosses Rs 1 lakh crore
NEW DELHI: Bajaj Auto’s market capitalisation crossed Rs 1 lakh crore on Friday. The share price of Bajaj Auto closed at Rs 3,479 per share on the NSE, making its market capitalisation Rs 100,670.76 crore at this price. “This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market […]
M&M’s December auto sales down 10%
NEW DELHI: Mahindra & Mahindra (M&M) on Friday reported 10 per cent fall in its overall auto sales in December 2020 at 35,187 units. During the same period of 2019, the company had sold 39,230 units. However, in the utility vehicles segment, Mahindra sold 16,050 vehicles in December 2020, compared to 15,225 vehicles in December […]
TVS Motor logs 17.5% sales growth in December
NEW DELHI: Two- and three-wheeler maker TVS Motor Company Ltd on Saturday said it had logged 17.5 per cent growth in sales last month. In a statement the company said it had closed last month selling 272,084 units (two wheelers 258,239, three wheelers 13,845 units) up from 231,571 units (two wheelers 215,619 units, three wheelers […]
Franklin Templeton’s shut funds receive Rs 13,120 crore so far
NEW DELHI: Franklin Templeton’s six shut schemes have received Rs 13,120 crore from maturities, pre-payments, and coupons since their closure in April. Over the latest fortnight, December 16-31, 2020, these schemes received Rs 1,213 crore. Further, five out of the six schemes have already turned and have close to Rs 8,527 crore available to return […]
Japan’s MUFG Bank dismissed employees to approach Labour Commissioner for relief
By Venkatachari Jagannathan CHENNAI: The dismissed employees of the Japan’s MUFG Bank in India will file a complaint with the Labour Commissioner for reinstatement, said a top official of All India Bank Employees’ Association (AIBEA). “Complaints will be filed with the Labour Commissioners in Chennai and Delhi against the sudden dismissal of employees by the […]