Gold remains up on festive buying, positive global leads
NEW DELHI: Gold prices rose by Rs 220 to Rs 32,270 per 10 grams as upward trend continued unabated for the fourth straight week, backed by persistent buying by local jewellers to meet festive season demand coupled with positive global cues. Silver after moving both ways on alternate bouts of buying and selling, managed to […]
Monnet Ispat’s net loss widens to Rs 2,860 crore in second quarter
NEW DELHI: Monnet Ispat and Energy Ltd (MIEL) reported a net loss of Rs 2,859.56 crore for the quarter ended September 2018 due to impairment of value of its assets. Its net loss was Rs 353.24 crore in the year-ago quarter, said MIEL, a joint venture company of AION and JSW Steel Ltd. The company’s […]
IIFT completes summer placements; average stipend at Rs 1.48 lakh
NEW DELHI: The Indian Institute of Foreign Trade (IIFT) said that it has completed summer placements for its 2018-20 batch with an average stipend of Rs 1.48 lakh. Summer placement this year has witnessed participation from a large number of companies from diverse sectors and industries, the IIFT, which is under the commerce ministry, said […]
ArcelorMittal emerges as highest bidder for Essar Steel
NEW DELHI: Global steel giant ArcelorMittal said on Friday it has been selected as preferred bidder for the debt-laden Essar Steel by the Committee of Creditors. The Lakshmi Mittal-owned company, which is the world’s largest steel maker has been on a murky legal battle with other bidders, especially the Russian VTB Bank-promoted NuMetal to take […]
IT firms’ buybacks hamper their future business investment: Moody’s
NEW DELHI: Share buybacks by information technology (IT) firms in the country impede their ability to invest for their future business needs, global ratings agency Moody’s Investors Service said Wednesday. It can be noted that the last few years have seen a high number of share buybacks from the country’s cash-rich IT companies. “High levels […]
IPOs of Bharat Hotels and Spandana Sphoorty get Sebi nod
NEW DELHI: Bharat Hotels, which runs five-star properties under The LaLiT brand, and micro-finance lender Spandana Sphoorty Financial have received markets regulator Sebi’s go-ahead to float IPOs. With this, the total number of companies getting Sebi’s clearance to launch initial share-sales has reached 60 so far this year. Bharat Hotels and Spandana Sphoorty obtained the […]
NIIT Technologies Q2 profit jumps 66% to Rs 111.8 crore
NEW DELHI: NIIT Technologies reported 66.3% jump in net profit to Rs 111.8 crore for the quarter ended September 30, 2018, driven by strong demand across sectors like BFSI and travel and transportation. The company had registered a net profit of Rs 67.2 crore in the year-ago period, it said in a regulatory filing. The […]
Olialia Pan Masala now available in Indian market
NEW DELHI: FMCG brand Olialia World has announced that starting today its much-awaited Vazir Pan Masala is now available in the Indian market. Currently, the Pan Masala is available at retail sales points in Delhi, Uttar Pradesh, Chattisgarh and Gujarat respectively . Three days ago, Olialia Chairperson and Global Brand Ambassador Anca Verma had rolled […]
India to allow data service initially under in-flight connectivity
NEW DELHI: The telecom department is considering to allow only data services initially in flights and water vessels within Indian territorial boundaries, an official source said. Under the proposed in-flight connectivity guidelines, both voice and data services would be provided to passengers on flights and maritime transport within the national boundaries. “DoT will initially seek […]
Honda Activa crosses 2 crore volume mark
NEW DELHI: Honda Motorcycle & Scooter India’s (HMSI) flagship Activa brand of automatic scooters has crossed 2 crore-customer-mark, the second largest two-wheeler maker said on Wednesday. Activa, which pushed Hero Motorcop’s flagship Splendor to second position in May 2017, has retained top spot as largest selling two-wheeler brand in the country. It is also the […]
Reliance makes strategic investment in SkyTran
NEW DELHI: Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited (Reliance), today successfully acquired 12.7% shareholding (on fully diluted basis) in SkyTran Inc. (SkyTran), a US incorporated venture-funded technology company developing state of the art technology in the field of Personal Rapid Transit Systems. Reliance has made a strategic […]
Asus launches 4G smartphones Zenfone Lite and Max
NEW DELHI: Taiwanese mobile phone maker Asus aims to garner 5% share of the hyper-competitive Indian smartphone market as it ramps up product portfolio in the country. “India is a very important market for us. But we don’t want to be just sellers of phones. We have spent a lot of time in research to […]
SEBI directs Singh brothers to pay Rs 403 crore to Fortis Healthcare
NEW DELHI: Finding illegal diversion of funds from the company, markets regulator Securities and Exchange Board of India (Sebi) on Wednesday directed the Singh brothers and eight other entities to repay Rs 403 crore along with interest to Fortis Healthcare Ltd. The Singh brothers—Shivinder and Malvinder—are former promoters of Fortis Healthcare. All the entities have […]
USA plans big changes in H-1B visa rules
WASHINGTON : The Donald Trump administration said it is planning to “revise” the definition of employment and specialty occupations under the US H-1B visas by January, a move which will hit Indian IT companies in the US and small and medium-sized contractual firms mostly owned by Indian-Americans. The H-1B is a non-immigrant visa that allows […]
India could be removed from American currency monitoring list
WASHINGTON: The United States of America (USA) could remove India from its currency monitoring list of major trading partners, the Treasury Department said, citing certain developments and steps taken by New Delhi, which address some of its major concerns. India was for the first time, in April, placed by the US in its currency monitoring […]
House panel to examine functioning of EPFO
NEW DELHI: A parliamentary panel will examine the functioning of the Employees Provident Fund Organisation (EPFO), its coverage and recovery of arrears. The Parliamentary Standing Committee on Labour has also decided to review the implementation of labour laws, social security and welfare scheme for workers. The panel will be headed by BJP MP Kirit Somaiya. […]