Honda to hike vehicle prices by up to Rs 10,000 from next month
NEW DELHI: Honda Cars India on Thursday said it will increase prices of its vehicles by up to Rs 10,000 from next month in order to partially offset the impact of increase in commodity prices and foreign exchange rates. The company will hike price of its premium SUV CR-V by Rs10,000 and other models by […]
IL&FS says unable to meet interest payment obligation
NEW DELHI: Infrastructure Leasing & Financial Services Ltd (IL&FS) on Thursday said it would be unable to service its obligation in respect of interest of non-convertible debenture due on January 19. “The company would be unable to service its obligation in respect of the interest of non-convertible debenture due on January 19,” the company said […]
Reliance Industries 1st private firm to post Rs 10, 000 crore quarterly profit
NEW DELHI:Reliance Industries Ltd (RIL) on Thursday became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore after record earnings from petrochemical, retail and telecom business offset a dip in refinery margins. The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to […]
Reliance Jio Q3 net profit jumps 65% to Rs 831 crore on rise in customer base
NEW DELHI: Telecom operator Reliance Jio on Thursday reported a jump of 65 per cent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base. The company had recorded a net profit of Rs 681 crore in the corresponding period a year ago. […]
IBC Section 29A needs more clarity: SBI
MUMBAI: State Bank of India (SBI) chairman Rajnish Kumar said Section 29A of Insolvency and Bankruptcy Code (IBC), which disallows defaulting promoters and related persons from bidding for assets, is being “stretched too far”. Speaking at an event in Mumbai, he said most of the litigation at present are due to Section 29A. “But this […]
Noida-Greater Noida metro line to start from this month
NEW DELHI: The Noida-Greater Noida Metro Rail line will be “likely” inaugurated on January 25 by Uttar Pradesh Chief Minister Yogi Adityanath, the Noida Metro Rail Corporation (NMRC) said on Thursday. The rail corridor also known as the Aqua Line would run between Sector 51 station in Noida and the Depot Station in Greater Noida, […]
Narendra Modi inaugurates global trade show at Vibrant Gujarat Summit
NEW DELHI: Prime Minister Narendra Modi inaugurated a global trade show in Gandhinagar on Thursday, organised as part of the ninth edition of the Vibrant Gujarat Global Summit 2019. A fter inaugurating the trade show, Modi visited a few pavilions and saw some of the products kept on display. The Vibrant Gujarat Global Trade Show […]
Tata’s Trent buys 1.5 lakh sq ft space in Lodha’s project
NEW DELHI: In a major commercial deal, Tata Group’s retail arm Trent has acquired five floors of office space in Lodha Group’s commercial building Lodha Excelus at New Cuffe Parade for a transaction value of Rs 300 crore. Of the 5 floors, the company, as the first and anchor client, has bought four floors on […]
GoAir seeks increase in flying rights to Thailand amid increasing demand
PHUKET: Budget carrier GoAir is looking for an increase in flying rights to Thailand amid growing air passenger traffic, according to a senior airline official. GoAir Vice-President (International) Arjun Dasgupta said the airline wants to launch flights from seven more Indian cities, including Chandigarh and Lucknow, to Phuket. Currently, it has direct flights to Phuket […]
PM-headed panel likely to meet on Jan 24 to appoint new CBI Director: Sources
NEW DELHI: The high-powered Selection Committee is likely to meet on January 24 to appoint the new CBI Director, sources said here. Prime Minister Narendra Modi heads the committee, in which the Chief Justice of India and the Leader of Congress in Lok Sabha Mallikarjun Kharge are the other members. The sources said the government […]
Gaurs Group raises Rs 640 crore from PNB Housing Finance Limited
NEW DELHI: Gaurs Group has raised Rs 640 crores from a housing finance company, PNB Housing Finance Limited to speed up construction of Gaur City Mall and 7th Avenue at Gaur City both at Greater Noida West. The group is speeding up the construction of Gaur City Mall and 7th Avenue at the Gaur City […]
Supreme Court bans transportation of extracted coal lying at various sites in Meghalaya
NEW DELHI: The Supreme Court of India on Tuesday banned the transportation of extracted coal lying at various sites in Meghalaya which has had no success in rescuing 15 miners trapped inside an illegal rat-hole coal mine for almost a month. The order was passed by a bench comprising justices A K Sikri and S […]
Apple loses bid to undo $440 million judgment in VirnetX patent case
A US appeals court on Tuesday upheld a judgment worth $440 million that was won by intellectual property licensing firm VirnetX Inc against Apple Inc in a patent infringement case. The US Court of Appeals for the Federal Circuit denied Apple’s appeal of a 2016 jury verdict originally valued at $302 million that grew to […]
Fortis Healthcare completes acquisition of RHT assets
NEW DELHI: Fortis Healthcare on Tuesday said it has completed the acquisition of RHT Health Trust (RHT) assets. In February last year, Fortis had announced that it has entered into definitive agreements with RHT to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore. “The company has […]
MGNREGA gets additional Rs 6,000 crore, highest ever total allocation in a fiscal
NEW DELHI: The government of India Tuesday said it has made an additional allocation of over Rs 6,000 crore to rural employment scheme MGNREGA, taking the total allocation to Rs 61,084 crores, which is highest ever in a financial year. The additional allocation comes after nearly 90 lawmakers, several prominent civil society members, activists, leaders […]
Airtel launches 4G services in Andaman and Nicobar
NEW DELHI: Telecom service provider Bharti Airtel today announced the launch of its 4G services in Andaman and Nicobar Islands. Airtel is the first mobile operator to launch high speed data services on the archipelago, which is now connected to the digital superhighway. Airtel’s 4G services will enable local residents to enjoy digital services like […]