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Feb 07, 2018 09:37 PM IST | Source: Moneycontrol.com

News highlights of the day: Disclosing Rafale details will compromise national security: Government

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • Feb 07, 09:36 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Feb 07, 09:14 PM (IST)

    Lalu Prasad Yadav constitutes RJD's new national executive from jail

    In jail following his conviction in fodder scam cases, RJD chief Lalu Prasad has constituted the party's new national executive, which includes eminent lawyer Ram Jethmalani but omits don-turned-politician Mohammad Shahbuddin, a party release said today.

    The release issued by RJD general secretary S M Qamar Alam said the appointments were made by Prasad.

    Lalu's three children — Tej Pratap Yadav, Tejashwi Yadav and Misa Bharti — have also made it to the panel. (PTI)

  • Feb 07, 08:39 PM (IST)

    443 candidates files nomination for Meghalaya assembly poll, finally

    A total of 443 candidates have filed papers for the 60 constituencies in Meghalaya after end of filing of nominations today, chief electoral officer FR Kharkongor said.

    The 443 candidates include 59 of the Congress, 53 of the NPP and 47 contestants of the BJP besides other regional parties and Independents, Kharkongor told PTI.

  • Feb 07, 08:33 PM (IST)

     IPL 2018 News | Mumbai Indians have appointed Lasith Malinga as the Bowling Mentor for the upcoming season.

  • Feb 07, 08:19 PM (IST)

     Disclosing Rafale details will compromise national security: Government

    The government today called "unfounded" allegations made by the Opposition about the Rs 58,000-crore deal for 36 Rafale jets, asserting that the demand to disclose details such as its value was "unrealistic" as doing so might compromise India's national security.

    In a statement, the defence ministry said the earlier UPA government had also expressed its inability to disclose the price of various defence procurements, including in its responses to Parliament questions, in keeping with confidentiality requirements. (PTI)

  • Feb 07, 07:46 PM (IST)

    Railways pushes to block 19 websites over misuse of ticket-booking software

    The Indian Railways has asked the Ministry of Electronics and Information Technology to block 19 websites over concerns of misuse of a software on its catering and tourism portal for tatkal booking, Parliament was informed today.

    Railway Minister Piyush Goyal told the Lok Sabha that the misuse of the automation system on the Indian Railway Catering and Tourism Corporation's (IRCTC) web portal - www.irctc.co.in - has been reported to the ministry and steps were being taken to counter it, including the blocking of suspected websites. (PTI)

  • Feb 07, 07:21 PM (IST)

     BREAKING | Indian captain Virat Kohli scores his 34th ODI century. India 223/4 in 40 overs.

  • Feb 07, 07:19 PM (IST)

     Bed linen washed after every use, blankets at least once in 2 months: Railways

    The Indian Railways ensures that bed linen, except blankets, provided to passengers on trains are washed after every use, it informed Parliament today.

    Minister of State for Railways Rajen Gohain told the Lok Sabha that more than 65 percent linen are washed in mechanised laundries set up inside railway premises and the remaining are washed at laundries hired on contracts.

    The CAG had said in a report last year that various zonal railways did not follow the rule of washing linen after every use. Instead, they had set periodicity of once every fortnight/month/once in two-three months for washing blankets, it had said.

  • Feb 07, 07:06 PM (IST)
  • Feb 07, 07:05 PM (IST)

    Keen on manufacturing F-16V fighter jets in India: Lockheed Martin

    Lockheed Martin sees decades of business opportunities to make the latest and most advanced 4th generation multi-role F-16V fighter jets in India for its air force and exports, a top official of the American defence firm said today.

    The F-16V, where the V suffix is for its Viper nickname, is claimed by the company to be the latest and most advanced combat-proven jet of the family in the market. (PTI)

  • Feb 07, 06:58 PM (IST)

     WORLD VIEW | German Chancellor Angela Merkel's conservatives and Social Democrats have sealed a deal for new coalition, potentially ending four months of political standstill.

  • Feb 07, 06:25 PM (IST)

    Centre to link driving licence with Aadhaar: Supreme Court told

    The Centre is in the process of linking driving licences with Aadhaar number to weed out fake licences and a software for this covering all states on a real time basis is under preparation, the Supreme Court was told today.

    A bench comprising Justices Madan B Lokur and Deepak Gupta was informed about it by a court-appointed committee on road safety headed by former Supreme Court judge Justice KS Radhakrishnan.

  • Feb 07, 06:05 PM (IST)

     BREAKING | India's Jhulan Goswami has become the first woman in the world to take 200 ODI wickets.

  • Feb 07, 06:05 PM (IST)

    Eicher Motors Q3 Net rises 24% to Rs 520 crore

    Eicher Motors today reported 24.46 percent rise in consolidated net profit at Rs 520.5 crore for the third quarter ended December 31.

    The company had posted a net profit of Rs 418.19 crore for the same period previous fiscal.

    Total revenue from operations stood at Rs 2,269.01 crore. It was at Rs 2,071.42 crore in the same period of previous fiscal, Eicher Motors said in a regulatory filing.

  • Feb 07, 05:50 PM (IST)

    NEIGHBOURHOOD WATCH | Bangladesh on edge before court verdict in Zia graft case

    Bangladesh braced for possible unrest ahead of a court verdict in the corruption trial of former prime minister and opposition BNP chief Khaleda Zia amid escalating tensions.

    The Dhaka Metropolitan Police had issued a special notice prohibiting any form of public gathering from 4 am tomorrow, the day of the verdict, until further orders. The notice said inputs from intelligence agencies warned of efforts to destabilise public order, and sought cooperation from all quarters for security.

    Zia (72) and five others, including her son and Bangladesh Nationalist Party (BNP) senior vice-chairman Tarique Rahman, have been tried in the court of Dhaka's Fifth Special Judge Mohammad Aktaruzzaman on charges of embezzling 21 million takas (USD 252,000) in foreign donations meant for the Zia Orphanage Trust. (PTI)

  • Feb 07, 05:24 PM (IST)

     302 projects delayed, total cost overrun Rs 1.45 lakh crore, says Govt

    As many as 302 infrastructure projects worth Rs 150 crore and above are delayed with a total cost over-run of Rs 1.45 lakh crore as on November 1, 2017, Parliament was informed today.

    "As on November 1, 2017, a total of 1,283 projects (worth Rs 150 crore and above) are being monitored by this ministry. Of these, 302 are running behind their schedule. The cost over-run of these 302 delay projects is Rs 1,45,679.07 crore," Minister of State for Statistics and Programme Implementation Vijay Goel said in a written reply to the Lok Sabha. (PTI)

  • Feb 07, 05:06 PM (IST)

    IIMs asked to indicate interest to prepare BSNL's revival plan

    Three Indian Institutes of Management (IIMs) have been asked to indicate their interest for undertaking a study and preparing a revival plan for the state-owned BSNL, Parliament was informed today. (PTI)

  • Feb 07, 04:55 PM (IST)

    Mercedes Benz launches Maybach S650 at Rs 2.73 crore

    German luxury car maker Mercedes Benz today launched its flagship Maybach S650 with starting price of Rs 2.73 crore and also showcased its futuristic electric vehicle Concept EQ.

    The company also showcased its E-Class All-Terrain sedan at the Auto Expo here.

    The Maybach will come in two versions. While the Maybach S650 is priced at Rs 2.73 crore, the Maybach S650 is tagged at Rs 1.94 crore (ex-showroom all India). (PTI)

  • Feb 07, 04:50 PM (IST)

  • Feb 07, 04:39 PM (IST)

    Mercedes Benz debuts Maybach S650 at Rs 2.73cr

    Luxury carmaker Mercedes Benz unveiled three cars, including one electric concept at the Auto Expo 2018. They include Concept EQ, Mercedes Maybach S 650 and E Class All Terrain. Concept EQ (referring to electronic quotient) has range up to 500 km and will be on road before the end of this year, the company said. The car has a SUV coupe design. Mercedes said that they aim 20-25% of their total sale to be fully electric cars. The German auto giant termed Maybach S 650 as “mahal on wheels”. 

  • Feb 07, 04:33 PM (IST)

    Kawasaki to expand play in Indian premium bike market

    Kawasaki Motors said it will launch new models in the Indian market as it looks to further strengthen its position in the premium bike segment in India. The company launched two new bikes -- Ninja H2 SX Standard and special edition Ninja H2 SX SE -- at the Auto Expo 2018.

  • Feb 07, 04:29 PM (IST)

    Tata Motors showcases 2 concept vehicles, 6 electric vehicles

    Homegrown auto major Tata Motors unveiled two concept vehicles of a luxury SUV and a premium hatchback, besides showcasing six electric vehicles in mass and personal mobility segments. With the theme 'Smart Mobility, Smart Cities', the company's display here at the Auto Expo is focusing on intelligently-connected cities designed to offer convenience, safety, security, and efficiency to its customers.

  • Feb 07, 04:27 PM (IST)

    Eicher Motors Q3 profit rises 24% YoY to Rs 520cr, margin misses estimates

    Royal Enfield and commercial vehicle maker Eicher Motors' third quarter earnings matched analyst expectations but margin was tad below estimates. Consolidated net profit grew by 24.5% YoY to Rs 520.5 crore for quarter ended December 2017, driven by revenue and operational growth. CNBC-TV18 poll saw profit at Rs 515.4 crore for the quarter. Revenue from operations grew by 23.7% to Rs 2,269 crore in Q3 compared to Rs 1,835 crore in the year-ago period, driven by volume growth.

    Royal Enfield sales volumes increased 18.8% YoY to 2,06,000 units, aided by additional capacity and good demand. "Royal Enfield experienced a strong quarter with the domestic market share in 150cc and above segment increasing to 30.5% from 26.8% in the corresponding quarter of the previous financial year.

    Commercial vehicle volumes were very strong in Q3, rising 37.7% YoY and 8.1% QoQ to 16,231 units. Operating profit growth of 22.6% YoY at Rs 707.2 crore was in line with estimates of Rs 706.8 crore, but margin contraction of 20 basis points at 31.2% missed expectations of 31.7%.

  • Feb 07, 04:18 PM (IST)

    RBI outlines measures to support MSME sector

    The Reserve Bank of India announced a slew of measures for micro, small and medium enterprises (MSMEs), impacted by GST rollout and demonetisation, and gave them additional up to 180 days to clear their dues to banks. The formalisation of business through registration under Goods and Services Tax (GST) adversely impacted cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and non-banking financial companies (NBFCs), RBI Deputy Governor NS Vishwanathan said.

  • Feb 07, 04:16 PM (IST)

    RBI sees inflation firming up at 5.1% in Q4

    The Reserve Bank is expecting retail inflation to rise to 5.1% in the last quarter of the ongoing fiscal due to rising crude oil prices and hike in salary components of government employees. The central bank has also projected inflation to be in the range of 5.1-5.6% in the first half of 2018-19. 

  • Feb 07, 04:12 PM (IST)

    Adani asked to prove Carmichael coal mine jobs promises in Aus

    Adani has failed to meet financial and jobs creation milestones through its $16.5 billion Carmichael coal mine project in Queensland, the Australian state's premier said and asked the Indian energy giant to fulfil its commitment, reports PTI. Premier Annastacia Palaszczuk's remarks came as Labor party leader Bill Shorten cast doubt on the controversy-hit project.

    Palaszczuk said Adani had failed to deliver the jobs it promised when it was granted final approval at a signing ceremony last year. She called on Adani to prove it has the finance and that the project is progressing. "They were given the green light about eight months ago, is my recollection, and we’ve been very firm in that they need to get on with those jobs," she said.

    "We need to make sure the milestones are met and that is an issue for the company. Other companies meet their milestones and it is up to Adani to show the people of this state that they are meeting their milestones," she said.

  • Feb 07, 04:08 PM (IST)

    Yamaha launches new version of YZF-R15

    Two-wheeler manufacturer India Yamaha Motor (IYM) launched the new version of its sports bike YZF-R15 (Version 3.0) priced at Rs 1.25 lakh (ex-showroom Delhi). The bike would be available in two colours - racing blue and thunder grey. The company expects the new version to help it scale its sales numbers in the domestic market and bolster its presence in the 150cc segment.

  • Feb 07, 04:04 PM (IST)

    Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra

  • Feb 07, 04:02 PM (IST)

    Govt seriously looking at revival plan for MTNL

    The government is seriously looking at a revival plan for state-owned MTNL, and various steps have been taken to improve the telecom operator's customer base, Union minister Manoj Sinha said. Replying to supplementaries in the Lok Sabha, he said the government is also considering equipping MTNL and BSNL to start providing 4G services.

    MTNL has taken various steps to improve its network capabilities, quality of services and to increase the market share. These include expansion of 3G network and redeployment of Digital Subscriber Line Asynchronous Mode (DSLAM) mode of existing broadband network.

  • Feb 07, 03:59 PM (IST)

    Hyundai Motor India (HMIL) MD and CEO YK Koo (second right), along with company officials, showcases premium compact hatchback Elite i20 at Auto Expo 2018 in Greater Noida, Uttar Pradesh on Wednesday.

       Hyundai Motor India (HMIL) MD and CEO YK Koo (second right), along with company officials, showcases premium compact hatchback Elite i20 at Auto Expo 2018 in Greater Noida, Uttar Pradesh on Wednesday.
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