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Wednesday, August 12, 2020

Andhra Pradesh unveils new Industrial Development Policy 2020-23

August 11, 2020 3:34:30 am

Special Chief Secretary for Industries R Karikal Valaven said the state is committed to delivering on each element of the policy. It proposes interventions across infrastructure, ease of doing business, skill development, business enablement, and fiscal incentives.

Of 93L EPFO claims settled so far in FY21, 11.27L filed via UMANG

August 11, 2020 3:29:59 am

The claims filed through the app saw a 180% rise from the 3.97 lakh claims filed through the app during the pre-Covid-19 period of December-March 2020.

PM Modi inaugurates Chennai-Port Blair submarine optical fibre internet link

August 11, 2020 3:05:54 am

The project, funded by Universal Service Obligation Fund (USOF), was started late in 2018, and aimed to connect seven island in the Andaman group, apart from the capital Port Blair, with high speed broadband.

First time in 4 years: Equity schemes see net outflow in July

August 11, 2020 3:01:38 am

Despite a 7.5% rise in the Nifty index in July, equity mutual fund schemes saw an outflow of Rs 2,480 crore.

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InterGlobe Aviation to raise up to Rs 4,000 crore via share sale

August 11, 2020 3:01:29 am

The board of directors of InterGlobe Aviation Limited at its meeting on August 10, 2020 has considered and approved the raising of funds for an aggregate amount not exceeding Rs 4,000 crore through an issue of equity shares by way of a qualified institutions placement.

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RBI bans routing of term loans via current accounts

August 11, 2020 3:00:53 am

Banks without significant exposure to a borrower cannot open their current accounts.

Passenger vehicle retail sales dip by 25% in July, says FADA

August 10, 2020 5:55:36 pm

Total sales across categories declined 36.27 per cent to 11,42,633 units last month as against 17,92,879 units in the year-ago month.

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Equity mutual funds see first outflow in over four years in July on profit-booking

August 10, 2020 3:27:51 pm

Overall, the mutual fund industry witnessed a net inflow of 89,813 crore across all segments last month, much higher than Rs 7,265 crore seen in June, data by Association of Mutual Funds in India showed on Monday.

Cipla shares rally 10% after Q1 earnings

August 10, 2020 1:12:28 pm

Cipla stock zoomed 9.99 per cent to Rs 801.45 -- its 52-week high -- on the BSE. It rose sharply by 9.99 per cent to its one-year high of Rs 801.50 on the NSE.

AC and commercial refrigeration businesses to return to normal by last quarter of this fiscal: Blue Star

August 10, 2020 12:36:48 pm

Blue Star, which reported a consolidated net loss of Rs 19.66 crore for the first quarter ended June 30, 2020, said its manufacturing and supply chain operations are fully operational.

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Rupee opens flat against US dollar

August 10, 2020 12:03:42 pm

Forex traders said, while firm start of the equity market and foreign fund inflows supported the rupee, factors like weak Asian currencies and rising COVID-19 cases dragged down the local unit.

Aramco still aims for $15 billion investment in RIL’s refining and chemicals business

August 10, 2020 11:06:37 am

A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers. State-owned Aramco is already a major supplier of crude to India, while Reliance sells petroleum products, including gasoline, to the kingdom.

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Sensex rises 142 points; L&T spurts over 4%

August 10, 2020 4:03:46 pm

After rallying 390.12 points during the day, the 30-share BSE benchmark pared some gains to end 141.51 points or 0.37 per cent higher at 38,182.08. The NSE Nifty climbed 56.10 points or 0.50 per cent to close at 11,270.15.

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Asian shares cautious as Sino-US tensions weigh

August 10, 2020 10:05:34 am

MSCI's broadest index of Asia-Pacific shares outside Japan see-sawed between red and green but held in small ranges to stay below a 6-1/2 month peak touched last week.

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Authorities look to revive plan to extend Kozhikode airport runway

August 10, 2020 9:07:27 am

On Friday, a Boeing 737-800 aircraft with 191 people on board overshot the runway at Kozhikode airport after landing and fell into a 35 feet deep gorge resulting in the aircraft being broken up into three parts.

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Amid staggering losses, India Inc says recovery depends on course of pandemic

August 10, 2020 1:55:39 am

Q1FY21 results were marked by severe disruptions to the supply chain as also demand, with much of India locked down for most of the time.

June quarter: Even as MFs & FPIs see dip in holding in NSE-listed cos, retail investors raise theirs to 30-mth high

August 10, 2020 1:50:46 am

During the June quarter, which witnessed 20 per cent jump in Nifty, retail investors raised their holding in 1,018 companies listed on the National Stock Exchange (NSE).

Falling cash usage in May-Jul: Transaction value via UPI 24% higher than that of IMPS

August 10, 2020 1:42:36 am

During May, June, and July, for example, the total number of transactions done through the NPCI’s Unified Payments Interface (UPI) stood at 1,234.5 million, 1,336.9 million, and 1,497.3 million, respectively.

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Pilot scheme: RBI sets Rs 200 limit for offline transaction

August 9, 2020 12:35:56 am

total limit for such transactions on an instrument has been set at Rs 2,000 at any point of time for the pilot scheme.

FM Sitharaman: 15 proposals of stressed NBFCs, HFCs worth Rs 6,399 crore sanctioned

August 9, 2020 12:25:37 am

Finance Minister Nirmala Sitharaman said 37 more applications seeking financing of up to Rs 11,037 crore are under process.

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Kerala plane tragedy: Global reinsurers to shell out over 90% of crashed Air India Express plane claim

August 10, 2020 7:21:06 am

Air India Express’s aircraft is reinsured for around Rs 375 crore and Air India will recover this amount from reinsurers as the plane has been totally damaged.

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Mukesh Ambani eclipses richest European to become world’s number 4

August 8, 2020 7:31:33 pm

Reliance Industries Ltd.’s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index.

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Elon Musk sued by Tesla Twitter critic for defamation

August 8, 2020 10:46:11 am

Hothi has been a thorn in Musk’s side, accusing him of being unable to live up to his promises for delivery of new Tesla cars and technologies.

Consumer confidence at record low in July; real GDP likely to contract by 5.8% in FY21: RBI survey

August 8, 2020 1:42:19 am

The future expectations index charted back into the positive territory, indicating signs of recovery for the year ahead, the survey said.

Uber yet to see recovery of mobility biz in India: CEO

August 8, 2020 1:32:53 am

“Mobility recovery is clearly dependent on the public health situation in any given area,” Khosrowshahi said addressing investors on the company’s Q2 2020 earnings call.