Here are the top stories this evening:
Mahindra & Mahindra profit dips 4.5% sequentially, revenue up 12%
Mahindra & Mahindra on May 28 reported a 4.5 percent sequential decline in standalone net profit at Rs 1,292 crore for the March quarter. Standalone revenues rose 12 percent quarter on quarter to Rs 17,124 crore. It rose more than five times or 427 percent from a year ago when profit had taken a hit from an exceptional expense of Rs 753 crore, without which it would have been Rs 998 crore, and the profit in the quarter under review would have risen 17 percent.
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DGCA imposes Rs 5 lakh penalty on IndiGo for denying boarding to special child
The Directorate General of Civil Aviation (DGCA) on May 28 levied a penalty of Rs five lakh on IndiGo airline for denying boarding to a special child with reduced mobility on its flight from Ranchi on May 7. Handling of the special child by the IndiGo ground staff was deficient , which in-turn ended up exacerbating the situation, according to a press release from the aviation regulator.
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SEBI conducts raids on 16 entities in Axis MF case: Report
Market regulator Securities and Exchange Board of India (Sebi) has carried out ‘search and seizure’ operations on 16 entities in more than 30 locations across the cities of Maharashtra and Gujarat as part of its ongoing probe of Axis Mutual Funds front-running case, says a report. Since a few months, the market regulator had been receiving alerts and internal market information along with inputs from NSE, based on which it decided to act.
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Meet PhysicsWallah’s Alakh Pandey who earlier rejected Unacademy offer now runs an edtech worth a billion dollars
Prayagraj-based physics teacher after rejecting a whopping Rs 40 crore per annum of SoftBank-backed edtech unicorn Unacademy, went on to build an edtech startup that is on the cusp of becoming a unicorn. This is the story of Alakh Pandey.
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Adani Green Energy arm commissions 390 MW wind-solar hybrid power plant in Jaisalmer
The new plant, country’s first ever wind and solar hybrid power generation facility, has a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) with tariff at Rs. 2.69 per kWh.
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Here’s why the NGT order directing Noida, Greater Noida authorities to stop concretization of road sides is important
The National Green Tribunal (NGT) has recently prohibited any kind of concretization of the roadsides, open spaces and soft landscapes in Noida and Greater Noida, with interlocking tiles or otherwise, and to keep them soft, natural and unconcretized, so as to allow natural ground water recharge and prevent surface run-off, water-logging and urban flooding.
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Fresh plea in SC challenges validity of sections of Places of Worship (Special Provisions) Act
The petition, filed by Mathura-resident Devkinandan Thakur, has challenged the validity of sections 2, 3, 4 of the 1991 Act claiming that it takes away right of judicial remedy of Hindus, Jains, Buddhists and Sikhs to take back their places of worship and pilgrimage and property which belong to the deity.
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