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Tata Power partners with Tata Motors to make Maharashtra electric vehicle ready
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.
CBI raids residences, office of Karnataka Congress leader's associates
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.
JUST IN |
11 dead in latest Nicaragua unrest, reports AFP.
Lankesh case: Four suspects remanded in police custody for 10 days
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 ties up for $135 mn financing for its solar rooftop projects
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 wins Rs 1,750-cr highway project in Maharashtra
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.
Orient Cement calls off Rs 2,000-cr deal to acquire 2 units from Jaypee
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.
PNB ups MCLR by 0.05-0.10% for select tenors
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.
Flipkart Internet trims losses at Rs 1,638.6 cr in FY17
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.
CAPA urges govt for comprehensive restructuring of Air India
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.
Non-food credit growth up to 10.7% for April: RBI
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.
CBI books 13 ONGC officials in Rs 80-cr scam case
The CBI has booked 13 senior serving and retired officials of the ONGC for alleged irregularities in giving a contract to a private company for supplying gas dehyrdation units for its Rajahmundry plant in Andhra Pradesh, causing a loss to the tune of Rs 80 crore, the agency said.
US ends steel, aluminum import tariff exemption on EU, Canada, Mexico
The US today announced the end of exemption on steel and aluminum tariffs on imports from European Union, Canada and Mexico. The EU, Canada and Mexico have threatened retaliation after US Commerce Secretary Wilbur Ross announced that exemptions on steel and aluminum import tariffs would end on June 1.
Toyota domestic sales surge 20% to 13,113 units in May
Toyota Kirloskar Motor (TKM) today reported a 20 percent increase in domestic sales at 13,113 units in May. The company had sold 10,914 units in the same month last year in the domestic market, TKM said in a statement.
Banking services hit for 2nd day; operations likely to be normal on June 1
Banking services were disrupted for the second day today with over 10 lakh bank employees abstaining from work to protest a "meagre" 2 percent salary hike proposed by the Indian Banks Association (IBA), a body representing management. Apart from disruption in operations related to deposits, FD renewals, government treasury and money market operations, there were reports of ATMs running dry in parts of the country.
Govt may re-look at Air India stake sale strategy, says RN Choubey
The civil aviation ministry today said it was expecting better participation for the Air India stake sale and indicated that there could be a rethink on the strategy after the disinvestment failed to attract any initial bids. The deadline for submission of Expression of Interest (EoI) ended today and did not elicit any response from potential bidders.
Maersk Line to levy $60 surcharge on rising fuel costs
Maersk Line, which ferries the largest proportion of the country's container traffic, said it will be levying a surcharge of around USD 60 per standard 20-foot container to cover for rising fuel costs.
Cyrus Mistry hits out at Tatas for 'shameful' CBI case against AirAsia executives
Ousted Tata Sons chairman Cyrus P Mistry today hit out at "shameful" case of top executives of AirAsia being booked for allegedly paying bribes to influence policy, saying there was a decline in governance standards at the group's airline venture. Mistry slammed AirAsia director R Venkataraman, who has along with chief executive Tony Fernandes been named by the CBI in the FIR, for using his name to cloak his alleged misadventures, and said individuals with "questionable motives" are bringing disrepute to the Tata brand.
SoftBank invests USD 2.25 bn in Genera Motor's self-driving venture
Japanese telecom giant SoftBank will invest USD 2.25 billion in General Motors' autonomous car programme in exchange for a stake in the venture, GM announced. The infusion of cash is a vote of confidence in the big US automaker, which is competing with other carmakers and technology companies to introduce autonomous cars globally.
Toll from Nipah virus rises to 16 in Kerala:
Sixteen persons have lost their lives to the Nipah virus in Kerala, with one more person succumbing to it, reported PTI.
Wipro Infra Engineering announces
launch of industrialautomation business
Wipro Infrastructure Engineering (WIN), a part of Wipro, on Thursday announced the launch of industrialautomation business, 'WIN Automation'. It is a full-service line industrial automationbusiness that will focus on the discrete manufacturing sector in India and ASEAN and enable companies to be automated, digitised and smart, the company said in a release. (PTI)
GDP growth has been increasing continuously every quarter with growth of 7.7% in Q4 of 2017-18. This shows that the Indian economy is on the right track & set for even higher growth in the future. This is 'Sahi Vikas' under theleadership of PM Narendra Modi ji & Arun Jaitley ji: Union minister Piyush Goyal
Six states to roll out
intra-state e-way bill from tomorrowAs many as six states, including Punjab and Odisha, will make mandatory e-way bill requirement for intra-state movement of goods from tomorrow. The six states -- Mizoram, Odisha, Punjab, Chhattisgarh, Goa and Jammu & Kashmir -- are set to implement the e-way bill system for intra-state movement of goods from June 1, GST Network said in a statement.
Besides, Tamil Nadu and West Bengal will roll out the same on June 2 and June 3, respectively. The Central Board of Indirect Taxes and Customs (CBIC) has already said that e-way bill for moving goods within a state will become mandatory from June 3, with the country-wide roll out of the mechanism. (PTI)
Bhaichung Bhutia formally launches
newpolitical partyFormer footballer Bhaichung Bhutia on Thursday launched his new political outfit, Hamro Sikkim Party (HSP), in his native state Sikkim. The launch took place at a public meeting at Daramdin in West Sikkim, located 104 km away from the state capital Gangtok. The ace footballer was accompanied by senior colleague and former minister RB Subba as he unfurled the party's flag before addressing the audience. (PTI)
"The low base of April 2017 pushed the expansion in coal output to a high 16.0% in April 2018, which would support mining growth in that month. The weak performance of the coal sector in May-June 2017, suggests a moderate growth outlook for the coming two prints," said Aditi Nayar, Principal Economist atICRA, commenting on core data released today.
CSO pegs India's FY18 GDP at 6.7%; Q4 growth at 7.7%
The real or inflation-adjusted GDP grew in its fastest pace in the entire financial year at 7.6% percent growth in January-March, indicating that the broader economy has well recovered the disorderly effects of demonetisation and the new indirect tax system, GST, data released by the government’s statistics office showed.
The new estimates firmly cement India’s place as the fastest-growing major economy, ahead of China’s 6.8 percent growth in the quarter ended March.
CSO pegs India's FY18 GDP growth at 6.7%
The Indian economy grew at 6.7 percent in 2017-18, the government said in new estimates on Thursday, marginally higher than the 6.6 percent expansion projected in February.
Eight core industries grew at 4.7 percent in April vs 4.4 percent in March
April coal sector output increases 16 percentvs 9.1 percentrisein March.Crude oil output saw a 0.8% decline vs 1.6% decline in March.Natural gas output was up 7.4% vs 1.3% rise in March.Cement output stood at 16.6% vs 13% rise (MoM).
Petro refinery products output up 2.7% vs 1% rise in March. Fertiliser output was up 4.6% vs 3.2% rise in March. Electricity output in April was up 2.2% as against a 4.5% rise in March. Steel output in April was up 3.5% as against a 4.7% rise in March. (CNBC-TV18)
EESL in talks with Telangana, MP, Rajasthan to supply EVs
State-run Energy Efficiency Services (EESL) is in talks with states like Telangana, Madhya Pradesh and Rajasthan among others for supplying electric vehicles (EV), a senior company official said.
EESL, a joint venture company of government-owned four power sector companies including NTPC, Power Finance Corporation, Rural Electrification Corporation and Power Grid, has so far signed agreements with states like Maharashtra, Andhra Pradesh and Gujarat to supply EVs for government use. (PTI)
Lalu family plots in Patna are money laundering assets: PMLA authority
A Prevention of Money Laundering Act (PMLA)authority has held that 11 land plots worth Rs 44.75 crore, attached by the Enforcement Directorate (ED) in the name of a firm linked to RJD chief Lalu Prasad's family, are money laundering assets and ordered that their attachment should continue.
Tata Motors inks MoU to deploy 1,000 EVs in Maharashtra
Tata Motors today said it has inked a pact with Maharashtra government to deploy 1,000 electric vehicles (EVs) from its range of passenger and commercial vehicles across the state. The MoU states thatTata Motors, along with Tata Power will also facilitate setting up of EV charging stations in the Maharashtra.
Idea Cellular completes a transaction with ATCIndia. The deal was closed with an enterprise value of Rs 4,000 crore for about 9900 towers.
Surging oil prices to hurt airlines' profits: IATA
Surging oil prices are forecast to dent airlines' profits and could significantly hurt their bottom lines next year, the boss of airline industry group IATA warned today. Oil was trading at 3.5-year highs recently amid concerns about supply disruptions caused by the United States' decision to quit the Iran nuclear deal and unrest in Venezuela.
UIDAI extends deadlines for virtual ID rollout
The Unique Identification Authority of India, or UIDAI,gavceservice providers like banks and telecom companies time till July 1 to rollout the Virtual ID system. This system verifies Aadhaar details without the need to furnishone’sAadhaar number.
M&M signs 2 MoUs with the Mahrashtra Govt to make 1000 EVs
Automaker Mahindra and Mahindra signedtwo Memorandums of Understanding withthe Maharashtra government to invest an additional 500 crore rupees in manufacturing electric vehicle components. The company also commits to rolling out 1000 electric vehicles in the state in the next one year.
Lupin launches oral antibiotic Solosec in US
Drug major Lupin said it has launched Solosec— an oral antibiotic used in treating bacterial vaginosis (BV) in women, in the US market.The company received approval from the US Food and Drug Administration (USFDA) earlier, Lupin said in a statement.
Binani Industries posts Q4 net loss at Rs 3.95 crore
Binani Industries today reported a standalone net loss of Rs 3.95 crore for the fourth quarter ended March 2018.The company had posted a net loss of Rs 1.22 crore during the January-March quarter a year ago, said Binani Industries, which holds over 98 per cent shares in debt-ridden Binani Cement.
RBI seen turning hawkish in June, raising rates in August, says poll
The Reserve Bank of India (RBI) will hike rates in August on concerns that already above-target inflation will climb further, according to economists in a Reuters poll.The dramatic shift in expectations was driven by India's annual consumer price inflation accelerating in April to 4.58 percent, above the central bank's target of 4 percent.
Nipah virus claims another life, death toll rises to 15
The Nipah virus death toll in Kerala rises to 15 as a 28-year-old man diedfrom the deadly viruson Thursday.Akhil, a native of Karassery was undergoing treatment at the Kozhikode Medical college hospital (KMCH) since May 29 before his demise.
Congress candidate establishes 44,000 votes lead over BJP in Raja Rajeshwari
Congress' N Muniratna established an unassailable lead of over 44,000 votes over his nearest BJP rival Tulsi Muniraju Gowda in the Rajarajeshwari Nagar assembly constituency here, as per trends available after the first three hours of counting. Officials said Munirathna has secured 75,282 votes, followed by Gowda with 31,182 votes.
Palghar bypoll: BJP candidate leads after fifth round
The BJP candidate was today leading by more than 10,000 votes over his Shiv Sena rival in the counting for Palghar Lok Sabha seat bypoll in Maharashtra.
The BJP candidate Rajendra Gavit, secured 44,589 votes while the Shiv Sena's Shrinivas Wanaga polled 34,218 votes, an election official said.
Nilekanis, 3 PIOs billionaires pledge to donate more than half their wealth to charity
Infosys co-founder and Chairman Nandan Nilekani, his wife Rohini Nilekani and three Indian-origin billionaires have joined the philanthropic initiative created by philanthropists Bill and Melinda Gates and Warren Buffett, pledging to commit more than half of their wealth to charitable causes.
GMR Infra's Q4 net loss narrows to Rs 819.53 crore
GMR Infrastructure reporteda reduction in its net loss to Rs 819.53 crore for the March quarter, as opposed to a net loss of Rs 2,478.78 crore in the corresponding period a year ago.
Orient Cement calls off deal to acquire 2 units from Jaypee
CK Birla Group firm Orient Cement has terminated the agreement to acquire two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms. The deal was pegged at Rs 1,946 crore.
I-T dept looks in to Walmart-Flipkart deal
The Income-Tax department has begun to examine the recent acquisition of a 77 percent majority stake in e-commerce giant Flipkart by US-retailer Walmart, media reports say.
PM meets Malaysian counterpart Mahathir Mohammad
Prime Minister Narendra Modimethis newly-elected Malaysian counterpart Mahathir Mohammad as a part of his three-nation tour. The leaders exchanged views on strengthening the strategic partnership between the two nations.
