Bayaweaver to invest Rs 1,000 crore on a commercial project in Noida
NEW DELHI: Realty firm Bayaweaver will invest around Rs 1,000 crore over the next four years to develop a commercial project in Noida, which will have retail space, hotel and service apartments, a top company official said. The company has already tied up with India Infoline Finance Ltd (IIFL) to fund this project, Bayaweaver CEO […]
Complete exploration of 329 mining leases expiring in 2 years: Centre to states
NEW DELHI: The government of India (Centre) has asked mineral rich states to complete by next month the exploration of all the 329 mining leases expiring in another two years. Mines Secretary Anil Mukim advised that “exploration of all mining leases expiring in 2020 should be completed by December 2018,” according to the minutes of […]
SBI puts up 11 NPA accounts for sale to recover Rs 1,019 crore dues
NEW DELHI: SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore. The country’s largest lender said the e-auction of these NPA accounts will take place on 22 November. “In terms of the bank’s policy on sale of financial assets in line […]
75 lakh new tax filers added this fiscal: I-T department
NEW DELHI: About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said. The target for the taxman is to add 1.25 crore fresh tax filers by the end of the 2018-19 financial year that ends in March next year, […]
Indian Rupee registers biggest single-day gain in 5 years to close at 72.45
NEW DELHI: The Indian rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices and possibility that the US might grant waivers to India from sanctions on Iranian oil imports. Besides, a bullish trend in the […]
FPI outflow hits 2 year high in October; total withdrawal crosses Rs 1 trillion mark in 2018
NEW DELHI: Overseas investors pulled out a massive Rs 38,900 crore (over $5 billion) from the capital markets in October, the steepest outflow in nearly two years, on rising crude oil prices, depreciating rupee and worsening current account deficit. With this, the total outflow from the capital markets (equity and debt together) has reached over […]
Deloitte, EY among 5 entities shortlisted to streamline online registration process: SEBI
NEW DELHI: Regulator Securities and Exchange Board of India (SEBI) has shortlisted five entities including Deloitte and EY that will be entrusted with the task of improving online registration system, inspect market intermediaries and enhance the efficiency of the complaint redressal process. Other firms on the shortlist are Accenture Solutions, BDO India LLP and EIT Services […]
Mukesh Ambani sets up Estonian JV for e-governance; takes up e-residency
TALLINN/MUMBAI: Industrialist Mukesh Ambani is keen on the e-governance space and has set up a subsidiary company in Estonia to get a grip on the solutions, government officials of the Northwestern European nation have said. Ambani has formed a subsidiary with the Estonian government’s former chief information officer Taavi Kotka. The joint venture will be […]
RBI kick-starts process to set up PCR for capturing details of borrowers
NEW DELHI: The Reserve Bank of India (RBI) has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The PCR will also include data from entities like market regulator Sebi, the […]
Delhi High Court directs e-commerce site Darveys to ensure products for sale on portal are not counterfeits
NEW DELHI: In a step towards ensuring counterfeits of popular branded products are not sold on online marketplaces, the Delhi High Court has directed an e-commerce platform to make sure that each item put up for sale on its site is genuine. Justice Pratibha M Singh issued the direction, saying in the world of e-commerce, […]
Forex reserves down by $1.4 billion to $392 billion due to fall in foreign currency assets
NEW DELHI: Continuing its decline, the country’s foreign exchange reserves slumped by $1.444 billion to $392.078 billion in the week to October 26 due to a fall in foreign currency assets, according to Reserve Bank of India (RBI) data. In the previous week, the reserves had declined by $942 million to $393.523 billion. In the […]
NPPA fixes retail price of 68 drug formulations
NEW DELHI: Drug price regulator National Pharmaceutical Pricing Authority (NPPA) on Friday fixed prices as well as revised ceiling and retail prices of 68 formulations, including those used for treatment of diabetes, blood pressure and HIV. The National Pharmaceutical Pricing Authority (NPPA) said while the retail price of 55 scheduled formulations has been fixed, that […]
Global factors, rupee, oil to drive stock markets this week: Experts
NEW DELHI: Trend from global equities, macroeconomic data as well as movement of the rupee and crude oil prices will set the tone for the stock markets in the holiday-shortened week ahead, say experts. Bourses would remain closed on Wednesday and Thursday for ‘Diwali Laxmi Pujan’ and ‘Diwali Balipratipada’. The BSE and NSE will conduct […]
Eight of top-10 firms gain Rs 1.69 trillion in m-cap; TCS, SBI shine
MUMBAI: Eight of the 10 most valued Indian firms together added Rs1.69 trillion in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI. A strong broader market drove the market capitalisation (m-cap) of the eight blue-chip firms, including ICICI Bank, HDFC and RIL, higher by Rs1,69,865.11 crore for the week ended Friday. […]
Narendra Modi’s foreign trips don’t help bring black money back: Ghulam Nabi Azad
NEW DELHI: The Congress on Saturday said Prime Minister of India Narendra Modi’s foreign trips had failed to create an environment that would help bring back black money stashed abroad or fugitives from the law. Leader of Opposition in Rajya Sabha Ghulam Nabi Azad said the Modi government had failed to extradite those who allegedly […]
15 new projects to create 8,883 jobs in Odisha
BHUBANESWAR: Odisha Chief Minister Naveen Patnaik on Saturday conducted groundbreaking ceremony for 15 industrial units that would collectively invest Rs 1,807.92 crore in the state, besides creating employment for 8,883 people. The projects are being developed by companies like Ultratech Cement, Welspun Ltd, Chettinad Cement, Surya Foods, P&A Bottlers, CRPL Infra, Vijaynagar Bio-tech, Coastal Corporation, […]