SBI reports Rs 2,312 net profit in Q1
NEW DELHI: The country’s largest bank State Bank of India (SBI) on Friday posted a standalone net profit of Rs 2,312.02 crore for the first quarter of current fiscal, mainly driven by higher income and reduction in bad loans. The bank had reported a loss of Rs 4,875.85 crore in the April-June quarter of 2018-19. […]
‘Inquisition’: Siddhartha’s death fuels India Inc’s anger against crackdown
By Aftab Ahmed & Aditya Kalra NEW DELHI: The apparent suicide of coffee baron V.G. Siddhartha, under investigation by tax authorities, has inflamed anger towards the government among business leaders who feel it is going too far in its crackdown on fraud and tax evasion. Drastic measures taken by Prime Minister Narendra Modi’s administration include […]
UP government selects Urbainia Trinity NX in Investor’s Meet 2019
NEW DELHI: Uttar Pradesh Government said that it has selected Urbainia Trinity NX, a mixed land use project by Urbainia Spaces Pvt Ltd as a part of the projects launched and felicitated in the Ground Breaking Ceremony, which held in Lucknow. Urbainia Trinity NX, an integrated business park is located in TechZone 4 at Greater […]
PM Modi should work like CM Modi to revive economy’s growth: L&T’s A M Naik
NEW DELHI: Industry doyen AM Naik went public with concerns over the economy, saying we should feel “lucky” even if GDP clips at 6.5 per cent, and recommended faster project clearances like the one in Gujarat when prime minister Narendra Modi was the chief minister, as a solution. The Padma Vibhushan awardee also said the […]
Rajya Sabha passes National Medical Commission Bill amid walkout by AIADMK
NEW DELHI: Rajya Sabha on Thursday passed the National Medical Commission Bill for replacing the corruption-plagued MCI with a new body, in what was described by the government as one of the biggest reforms for medical education in the country. The bill that seeks to repeal the Indian Medical Council Act 1956 was passed by […]
Hyundai Motor India sales down 4% in July at 57,310 units; exports up 13.6%
NEW DELHI: Hyundai Motor India Ltd (HMIL) on Thursday reported 3.8 per cent decline in total sales at 57,310 units in July. The company sold a total of 59,590 units in the same month last year, HMIL said in a statement. Domestic sales were at 39,010 units last month as against 43,481 units in July […]
Maruti Suzuki continues slide, sales down 33.5% to 1,09,264 units in July
NEW DELHI: The country’s largest car maker Maruti Suzuki India (MSI) on Thursday reported 33.5 per cent decline in total sales at 1,09,264 units in July. The company had sold 1,64,369 in July last year, Maruti MSI said in a statement. Domestic sales declined by 36.3 per cent at 98,210 units last month as against […]
Samsung donates 550,000 notebooks in government schools
NEW DELHI: Samsung R&D Institute – Bangalore (SRI-B), Samsung‘s largest R&D centre outside Korea and Government of Karnataka today donated 550,000 notebooks and one lakh stationery items to 2,100 government schools in Kolar and Ramanagar districts of Karnataka. In the fifth edition of the notebook donation drive for around one lakh students studying at government […]
IT major Cognizant posts 11.6% increase in Q2 net profit to $509 million
NEW DELHI: IT major Cognizant on Thursday posted 11.6 per cent increase in net profit to $509 million for June 2019 quarter, and said it expects 3.9-4.9 per cent growth in annual revenue this year. The US-based company, which has a significant portion of its workforce based in India, had posted a net profit of […]
Bajaj Auto’s sales down 5% at 3,81,530 units in July, exports up 8%
NEW DELHI: Bajaj Auto on Thursday reported 5 per cent fall in total sales at 3,81,530 units in July, 2019. The company had sold 4,00,343 units in the same month a year ago. Domestic sales in July this year were at 2,05,470 units as against 2,37,511 units, down 13 per cent, Bajaj Auto said in […]
Monsoon expected to be normal in August, September
NEW DELHI: Monsoon is expected to be normal in August and September, the India Meteorological Department (IMD) said on Thursday in its forecast for the second half of the four-month rainfall season. Quantitatively, the rainfall across the country as a whole during the two-month period is likely to be 100 per cent of the Long […]
Amazon signs pact with GMR to expand its biggest fulfilment centre in India
NEW DELHI: E-commerce giant Amazon.in on Thursday said it has signed a lease with GMR Hyderabad Airport City to expand its largest Fulfilment Centre (FC) in the country. The existing warehouse is spread across 400,000 sq ft and will now be expanded by another 180,000 sq ft, a statement said. “With this investment, Amazon.in has […]
Enforcement Directorate raids former Ranbaxy group promoters
NEW DELHI: The Enforcement Directorate (ED) on Thursday raided the premises linked to erstwhile Ranbaxy promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, in connection with a money-laundering case, agency officials said. They said the raids were conducted after the filing of a case under the Prevention of Money Laundering Act (PMLA). The action is […]
Aircel-Maxis deal: Court extends protection from arrest to Chidambaram, Karti till Aug 9
NEW DELHI: A Delhi court on Thursday extended till August 9 the interim protection from arrest to former Union minister P Chidambaram and his son Karti in Aircel-Maxis cases filed by the CBI and the ED. Special Judge O P Saini extended the relief after the argument on anticipatory bail plea of the father-son duo […]
Police book Amrapali group directors in cheating case
NEW DELHI: The Economic offence Wing of Delhi Police on Wednesday registered a case of cheating against directors of the Amrapali Group, said officials. The case was registered on the complaint of one Anurag Sahay, who had booked a flat with Amrapali group but was not delivered the same within the promised deadline, said police. […]
Rajya Sabha passes Motor Vehicles Amendment Bill 2019
NEW DELHI: The Motor Vehicles (Amendment) Bill, 2019 was passed by Rajya Sabha today. Speaking on the occasion SNitin Gadkari, Minister of Road Transport & Highways and MSME thanked the Members of the House and said that this was a matter of great happiness for him. He said the much needed amendments will improve road […]