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.
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.
Tata Power today said it has partnered with Tata Motors to make Maharashtra electric vehicle (EV) ready and to establish electric vehicle charging stations in the state for public use. Tata Motors has signed a memorandum of understanding (MoU) with the state to support the Maharashtra Electric Vehicle Policy (2018) in accelerating the adoption of electric vehicles, Tata Power said in a statement.
In a pre-dawn swoop, the CBI today raided residences and an office of some people linked to senior Congress leader and MP DK Suresh at five places in Bengaluru, Kanakapura and Ramanagara for alleged illegal exchange of demonetised currency notes in 2016. The raids took a political hue with Shivakumar, an MLA, and his MP brother Suresh calling it a "vindictive act" by the BJP-led government at the centre to frame them.
11 dead in latest Nicaragua unrest, reports AFP.
Four persons suspected of involvement in the killing of journalist-activist Gauri Lankesh were today remanded in police custody for 10 days by a city court. The Special Investigation Team (SIT) produced Manohar Gundappa Edve (30), Sujith Kumar alias Praveen (37), Amol Kale alias Bhaisab (40) and Amit Degwekar alias Pradeep before the Additional Chief Metropolitan Court and sought their custody for interrogation.
Azure Power said today that it has tied up USD 135 million (about Rs 910 crore) in debt financing, the largest solar power funding in the country, with a consortium of Development Finance Institutions. The proceeds will be used to finance 200 MW of solar rooftop projects across India, Azure said in a statement.
Dilip Buildcon (DBL) today said it has won a Rs 1,750-crore highway project in Maharashtra for construction of access-controlled Nagpur-Mumbai Super Communication Expressway. "DBL has been declared L-1 bidder for a new EPC (engineering, procurement and construction) project valued at Rs 1,750 crore by the Maharashtra State Road Development Corporation Ltd," the company said in BSE filing.
In a setback to crisis-hit Jaypee group, the CK Birla Group firm Orient Cement has terminated its Rs 1,946-crore deal to acquire Jaiprakash Associates Ltd's (JAL) two firms -- Bhilai Jaypee Cement and Nigrie Cement Grinding Unit. The deal has been terminated as both parties failed to complete the transactions within the stipulated 12 months time, according to regulatory filings. Jaypee Group has been selling cement plants and other assets to reduce its debt from the peak level of around Rs 75,000 crore.
Punjab National Bank today revised upwards the marginal cost of funds based lending rate (MCLR) for select tenors by 0.05-0.10 percent, effective June 1, a move that will lead to costlier loans for consumers. "The bank has decided to revise the marginal cost of funds based lending rate (MCLR) with effect from June 1, 2018," PNB said in a regulatory filing.
E-commerce major Flipkart Internet has seen its losses narrow to Rs 1,638.6 crore in 2016-17, as per a regulatory documents. It had a net loss of Rs 2,306.5 crore in the previous financial year, 2015-16.
Centre for Asia Pacific Aviation (CAPA) today urged the government to carry out a comprehensive restructuring of debt-ridden Air India, which failed to find any taker for its strategic disinvestment today.
The Reserve Bank today said non-food credit growth accelerated to 10.7 percent for April as against 4.5 percent in the year-ago period, led by retail and the services sector. The non-food credit grew 10.7 percent to Rs 76,130 billion as on April 27, the central bank said.
