TCS net income jumps 10.8% to Rs 8,131 crore
NEW DELHI: Largest software exporter TCS on Tuesday reported a 10.8 percent rise in June quarter net at Rs 8,131 crore and said focus will be on maintaining double-digit revenue growth in the rest of the year. The Tata Group cash machine reported a revenue growth of 11.4 percent to Rs 38,172 crore during the […]
Connaught Place 9th most expensive office location; Hong Kong tops chart
NEW DELHI: New Delhi’s Connaught Place (CP) is the ninth most expensive office location in the world with an annual rent of nearly $144 per sq ft, according to property consultant CBRE. CP, located in the heart of the national capital, was at the ninth position even last year. In its annual Global Prime Office […]
Deposit Rs 18,000 crore if you want to travel abroad: Delhi High Court to Naresh Goyal
NEW DELHI: A Delhi High Court Tuesday refused to allow Jet Airways founder Naresh Goyal to leave India and sought response of the Centre on his plea challenging a look out circular issued against him. Justice Suresh Kait said no interim relief can be granted to Goyal at this stage and added that he may […]
MD Ashok Venkatramani quits Zee Media Corp with effect from July 9
NEW DELHI: Zee Media Corporation Ltd on Tuesday said its Managing Director (MD) Ashok Venkatramani has resigned from the company. Venkatramani’s resgination will be effective from July 9, 2019. “Ashok Venkatramani has decided to pursue interest outside the company and has accordingly resigned as Managing Director of the company with effect from close of business […]
Hyundai Kona launched at Rs 25.30 lakh
NEW DELHI: South Korean auto major Hyundai Tuesday launched its full-electric SUV Kona in India priced at Rs 25.3 lakh, and sought government support for electric vehicles (EVs) for personal usage, not just for fleets. The company, which is present in the country through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), is also planning […]
Gujarat cancels Dahej port contract given to absconding Sandesara brothers
NEW DELHI: The Gujarat government on Monday canceled all permissions granted to the bankrupt Sterling group promoted by the absconding Sandesara brothers to develop an all-weather port in Dahej. The absconding promoters of the Sterling group — Nitin and Chetan Sandesara–are alleged to have defrauded over Rs 14,500 crore of public money. Two of their […]
Air India unions oppose privatisation bid, demand meeting with government
NEW DELHI: Over a dozen unions of Air India on Monday came out strongly against the government’s second bid to sell the financially-crippled national carrier, union sources said after a meeting with the airline’s management. After the budget announcement on Friday, Air India chairman Ashwani Lohani had called a meeting of all the 13 unions […]
Telecom regulator sticks to stance on pricing of 5G spectrum, other bands
NEW DELHI: Regulator Telecom Regulatory Authority of India (Trai) on Monday stuck to its recommendation on base price and valuation of spectrum, including for 5G radiowaves, making it clear to the telecom department that it has considered “all relevant factors” while giving views on prices. Last month, amid an industry disquiet over the pricing of […]
GoAir announces launch of flights on 7 new international routes
NEW DELHI: Budget carrier GoAir Sunday announced the launch of flight services on seven new international routes, including three new destinations Bangkok, Dubai and Kuwait, as part of its overseas expansion plans, starting July 19. The services on the new routes are subject to regulatory approval, GoAir said in a release Sunday. GoAir will be […]
Parliament passes Aadhaar amendment bill
NEW DELHI: Parliament on Monday passed an amendment bill which allows voluntary use of Aadhaar as proof of identity for users to open bank accounts and get mobile phone connection. The Aadhaar and Other Laws (Amendment) Bill, 2019, was passed by Rajya Sabha by a voice vote. The Bill, which also provides for a stiff […]
Renault India launches updated SUV Duster, price starts at Rs 8 lakh
NEW DELHI: French auto major Renault Monday launched the updated version of its popular SUV Duster in India, priced between Rs 8 lakh and Rs 12.5 lakh (ex-showroom). The new Duster is equipped with 25 brand new features and technology enhancements, including Apple CarPlay, Android Auto infotainment with voice recognition and EcoGuide along with safety […]
Daimler India gets its first BS-VI certificate for tractor model 5528TT
NEW DELHI: Daimler India Commercial Vehicles (DICV) has said it has received its first BS-VI readiness certification with heavy-duty tractor trailer model, 5528TT. The 5528TT, which is targeted at applications like cement, bulkers, steel coils, tankers and other heavy load transportation, received homologation certificate from Automotive Research Association of India (ARAI), DICV said in a […]
A first for Kerala in 10 years as Crisil upgrades Technopark rating to ‘A’
NEW DELHI: Crisil has upgraded Kerala-based Electronics Technology park–Technopark granting it A/Stable rating. The new rating is based on the latest review by Crisil, a global analytical company providing ratings, research, and risk and policy advisory services, a press release said. This is the first time in 10 years that a Kerala-based Electronics Technology Park […]
Indian Railway union says will launch protest after Budget proposes privatisation
NEW DELHI: Stating that the Union Budget has revealed the intention of the government to go ahead “aggressively” towards corporatisation and privatisation of railways, the National Federation of Indian Railwaymen (NFIR) has said its affiliates are going to launch massive protests across the country against the move. Union Finance Minister, Nirmala Sitharaman in her Budget […]
Reliance Power disagrees with CARE ratings on its subsidiary Sasan Power
NEW DELHI: Reliance Power on Saturday said rating agency CARE has revised long-term and short-term ratings of its subsidiary Sasan Power on account of significant weakening in the financial risk profile of the parent firm. The rating agency has also cited continual uncertainty over the compensatory tariff implementation towards change in law during construction and […]
Adi Godrej’s FY19 remuneration 114-time higher than median employee pay
NEW DELHI: Godrej Consumer Products Ltd (GCPL) Chairman Emeritus Adi Godrej’s total remuneration in 2018-19 was 114.18 times higher than the median pay of the company’s employees, while that of MD and CEO Vivek Gambhir was 311.26 times more, according to the company’s Annual Report. As per the report, Godrej’s total remuneration in FY19 stood […]