FE Bureau
India’s exports contract 9.7% in June, worst since January 2016
Goods trade deficit ballooned to $46 billion in the June quarter from almost $36 billion in the previous three months, threatening to reverse the benign current account deficit (CAD) level of 0.7% of GDP witnessed in the Marc
Tax on FPIs: Relief to less volatile investors not easy — here’s why
FPIs remained net buyers in most part of 2019, having bought shares and local papers worth $13.08 billion so far this year. This compares with last year’s sale of $4.6 billion in equity and $6.7 billion in bonds.
Three IL&FS entities enter into pact with secured lenders
The revised agreement includes certain concessions given by debtors, including release of cash flow from existing accounts to service financial and operational creditors, reduction in debt service coverage ratio requirement,
Supreme Court questions Sebi on IL&FS fraud probe
Sebi has moved the apex court against SAT’s order claiming that it should not be asked to investigate the Rs 460-crore IL&FS Securities case as it is beyond its jurisdiction to annul trades.
Aditya Birla Fashion to acquire 51% in Finesse International
ABFRL said the acquisition was intended to strengthen presence in the area of branded ethnic apparels and accessories, covering both bespoke ceremonial wear and pret lines.
Ashok Leyland’s Pantnagar plant production down due to weak sales
In a communication to the stock exchanges on Monday, the company stated that its plant situated at Pantnagar will remain closed from July 16 to July 24 (both days inclusive), owning to weak demand and outlook for the industry
Shriram Transport Fin to raise Rs 10,000 crore via NCD issue
Options of investment tenors are 30 months with annual interest payment option and 42, 60 and 84 months, with monthly, annual & cumulative interest payment options.
Consumer delinquencies at NBFCs higher than the industry
The FSR observed that the spike in delinquencies could be a fallout of the exponential growth seen in consumer credit over the last few years. Credit in all four segments grew at a compounded annual rate of above 20% between
Supreme Court rejects PIL against LIC’s Jeevan Saral Policy
An aggrieved policyholder can approach a consumer court for any relief, he said, adding that the policy has been approved by the Insurance Regulatory Development Authority (IRDA).
Captive coal production inches up 2.3% in April-May
Production in four captive coal mines—allocated to Hindalco Industries, Rajasthan Rajya Vidyut Utpadan Nigam (two blocks), Jaiprakash Power Ventures and NTPC — have actually dipped in these two months.
Vegetable oil imports surge 6% to 11.05 lakh tonne in June
During November 2018-June 2019, import of refined oil (RBD Palmolein) went up 39% to 1,825,663 tonne, against 1,315,256 tonne in the year-ago period.
Telecom talks: Airtel loses rural subscribers, Jio sees a rise
Jio's rural base during the same period rose from 35.87% in December end to 37.92% in March end.
Amazon, Flipkart not on Mukesh Ambani’s radar; Reliance Jio readies platform to wire kirana stores
From Jio Prime, not only will these merchants be able to source products cheaper than from normal suppliers and distributors but will also get cash backs and other discounts which would enable them to compete with bigger, org
Beware, new mobile malware on the prowl, 15 million devices in India affected
Agent Smith was originally downloaded from the widely-used third party app store, 9Apps, and targeted mostly Hindi, Arabic, Russian, Indonesian speaking users.
Shell Eco-marathon to be held in Bengaluru from November 19-22
Part of the event is Shell Eco-marathon—world’s longest-running competition in which students design, build and test fuel-efficient cars.
DHFL defaults again, this time to tune of Rs 48 crore
Gross non-performing assets (NPA) stood at 2.74% as on March 31 against 0.91% in the previous quarter and 0.96% in the corresponding quarter last year.
Allahabad Bank reports Rs 1,775 crore fraud by Bhushan Power and Steel
Last week, PNB reported a fraud worth Rs 3,805.15 crore by the bankrupt steel company by misappropriating funds and manipulating its books of accounts.
How Artificial Intelligence is solving different business problems
Tech Mahindra has implemented an AI-based facial recognition to register the attendance of employees, thereby reducing the work load of an HR associate
Kickstart your eco-friendly travel with these eight places
The lake in northern Italy known for its crystal clear water also boasts of one of country’s greenest hotels-Lefar Resort and Spa.
Water a challenge for decades, work should have begun 20 years ago: Jal Shakti Minister
Jal Shakti Minister Gajendra Singh Shekhawat lays out government plan on revival, reuse of water through traditional water bodies, rainwater harvesting and treatment of sewage water, and calls for more interest from states a
Kalyani Rafael gets $100-million order for 1,000 Barak-8 MRSAM missile kits for Indian Army and IAF
Hyderabad-based KRAS is a 49:51 ratio joint venture between Isreal’s Rafael Advanced Systems and Kalyani Strategic Systems, with the Indian partner holding 51%
Jet Airways insolvency: NCLAT to hear Dutch court administrator’s appeal
The NCLAT stayed a part of the order passed by the Mumbai bench of the NCLT, which had in June dismissed the Dutch administrator's plea saying that offshore proceedings are not maintainable.
Essar Steel lenders move Supreme Court against NCLAT order
The CoC in its appeal before the apex court stated that it has power to deal with all commercial aspects of the resolution plan submitted by ArcelorMittal India.
Infosys net profit rises in Q1 — What worked for the second-largest IT firm
Changes capital allocation policy to distribute 80% free cash-flows to shareholders via dividends, buybacks over 5 years
World Cup 2019: Star set to reach its ad revenue mark despite India’s exit
Of the Rs 1,800 crore, about Rs 1,600 crore is expected to come from broadcast while Star India’s digital platform, Hotstar, is estimated to garner about Rs 200 crore in ad revenues, analysts said.
Budget 2019: Govt hints at grandfathering of new tax on buyback of shares
Budget 2019 India: The idea behind the move is to discourage the practice of using buyback option to circumvent the dividend distribution tax (DDT) and encourage investments by firms.
Greenko inks agreements for $329 million equity funding
Greenko has also issued warrants to its founders, which will bring in additional equity for the growth of the company when they are exercised over coming months.
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