Tulip Infratech hands over possession of Tulip Lemon Affordable Housing
NEW DELHI:Successfully delivering homes to its clients year after year via group housing projects, Tulip Infratech, one of the major forces to reckon with in the Real estate sector, has yet again reiterated its success through its prestigious Affordable Housing project ‘Tulip Lemon’ located in sector-69, Gurgaon, the hand over process for which has started […]
Cyclone Fani likely to hit revenue generation in Odisha
BHUBANESWAR: Noting that the state’s revenue generation during the first quarters of the 2019-20 fiscal is likely to be hit by the cyclone Fani, Odisha government on Tuesday launched a drive to seek suggestions from the people for preparing the budget to be presented in July. “As the cyclone Fani has caused massive damage in […]
Bajaj Auto sales rise 3 per cent in May to 4.19 lakh units
NEW DELHI: Bajaj Auto on Monday reported 3 per cent increase in total sales in May at 4,19, 235 units as against 4,07,044 units in the same month previous year. Motorcycle sales increased 7 per cent to 3,65,068 units in the previous month as against 3,42,595 units in May 2018, the company said in a […]
Merger and acquisition activity in January-March quarter fell to 242 deals worth $9.9 billion: EY India
NEW DELHI: Merger and acquisition activity in India saw a sharp decline in the January-March period, amid subdued global deal market and uncertainty around general election results, according to a report. According to EY’s 32nd Transaction Quarterly Report, M&A activity in the first quarter of 2019 fell to 242 deals with $9.9 billion, from 260 […]
Amazon expands ‘packaging-free shipment’ programme to 9 Indian cities
NEW DELHI:E-commerce major Amazon on Monday said it is expanding its ‘packaging-free shipment’ (PFS) programme, an India-first initiative, to nine cities including Delhi, Mumbai, Ahmedabad and Nagpur. The programme, under which orders are shipped in their original packaging without any secondary or additional packaging, will also be available in Bengaluru, Gurgaon, Noida, Chennai and Hyderabad. […]
Aviation minister meets Shiv Sena MPs, Jet Airways employees on airline’s revival
NEW DELHI: Three days after taking charge as the Civil Aviation Minister, Hardeep Singh Puri on Monday met six Shiv Sena MPs and representatives of Employees’ Union of Jet Airways to discuss the revival of the beleaguered airline, which temporarily suspended operations in April. “A delegation of six Shiv Sena MPs led by Shri Anil […]
Airtel Africa targets $750 million via IPO, eyes listing on London exchange
NEW DELHI: Telecom operator Bharti Airtel on Tuesday said its subsidiary Airtel Africa expects to raise at least $750 million (approx Rs 5,189 crore) through a public offer and subsequent listing on the London Stock Exchange. “The offer is targeted to raise $750 million (plus primary greenshoe option of up to 15 per cent) and […]
Milkbasket raises $10.5 million from Unilever Ventures, Kalaari Capital, others
NEW DELHI: Grocery delivery startup Milkbasket on Tuesday said it has raised an additional $10.5 million (approx Rs 69.20 crore) in its latest round of funding led by Unilever Ventures, with participation from Mayfield India, Kalaari Capital, and Blume Ventures and few Indian family offices. “While the industry is witnessing a number of players adopting […]
Jet Airways a ‘wake up call’; policymakers to be partly blamed: SpiceJet chief
NEW DELHI: The failure of Jet Airways should be a “wake up call” for the aviation industry and at least part of the blame should be at the doorstep of the policymakers as the cost structure is high, SpiceJet chief Ajay Singh has said. Low-cost carrier SpiceJet is expanding its operations and is set to […]
IFC sees green bond scope in India, says project identification only issue
NEW DELHI: The International Finance Corporation (IFC) sees immense opportunities to finance projects through green bonds in India especially in areas like urban transportation, waste-to-energy and water treatment, its senior official said here on Tuesday. “Opportunities in India are huge. Look at infrastructure and amount of urbanisation and the level of agriculture (projects),” said Vivek […]
L&T picks up Mindtree shares worth Rs 70 crore between May 27-30
NEW DELHI: Infrastructure major Larsen and Toubro (L&T) picked up 7.11 lakh shares of IT firm Mindtree between May 27-30 for about Rs 70 crore, according to regulatory data. The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of […]
Investors richer by Rs 1.76 trillion as indices reach all-time high
NEW DELHI: Driven by a robust show by benchmark indices, investor wealth on Monday rose by Rs 1.76 trillion as the BSE Sensex rallied 553 points to close at an all-time high level. The BSE 30-share index zoomed 553.42 points or 1.39 per cent to close at 40,267.62. During the trade, it advanced 594.7 points […]
Zomato introduces 26 weeks paid parental leave to all employees
NEW DELHI: Online restaurant guide and food ordering firm Zomato on Monday said as part of its new paternal leave policy it will be offering at least 26 weeks paid leave to its employees. In addition to the flexibility and empowerment to care for their families as they deem fit, the new parents will also […]
India’s GDP to exceed $3 trillion; to become 5th largest economy in 2019
NEW DELHI: India is forecast to overtake the UK to become the world’s fifth largest economy this year and projected to surpass Japan to feature at the second position in the Asia-Pacific region by 2025, IHS Markit said on Monday. In a report on Prime Minister Narendra Modi and his BJP party’s victory in the […]
Ashok Leyland sells more than 13,000 units in May, total sales dips 4%
NEW DELHI: Hinduja Group flagship firm Ashok Leyland on Monday reported a four per cent decline in total sales to 13,172 units in May. The company had sold 13,659 units during the corresponding month last year, Ashok Leyland said in a statement. Sales of medium and heavy commercial vehicles in May declined by 14 per […]
Dip in oil prices, stable rupee indicate signs of growth: Finance Secretary
NEW DELHI: Declining global oil prices, stable rupee and falling interest rate are sure signs of high growth in coming months, said Finance Secretary Subhash Chandra Garg. India’s growth rate has declined to 5-year low of 5.8% in the fourth quarter of the previous fiscal and 6.8% for the full financial year 2018-19. “Turn around […]