FE Bureau

India Inc stares at higher labour costs

Last year saw one of the steeper hikes in kharif MSPs (4-52%), as a poll-bound government unveiled the new policy and MSPs 50-97% higher than the full paid-out costs (A2+FL).

India Inc, labour costs, high labour costs, benchmark prices, Bill on Wage Code News

Kalpataru to sell stake in 3 assets to CLP India

Kalpataru’s equity holding in Kohima Mariani Transmission is 74% and balance 26% equity is held by Techno Electric & Engineering Company.

Kalpataru, Kalpataru stake, CLP India, Kalpataru Power Transmission, Kalpataru Satpura Transco, Alipurduar Transmission News

Supreme Court dismisses contempt plea against Hasmukh Adhia, Ajay Bhushan Pandey

The petitions were filed by an Indian Revenue Services (IRS) official SK Srivastava who was among 27 tax officials recently forced by the government to retire under section 56(j) of fundamental rules.

Supreme Court, Supreme Court case, Supreme Court plea, Hasmukh Adhia, Ajay Bhushan Pandey News

BK Birla (1921-2019): A tall business leader a great philanthropist

BK Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15.

Birla Group, BK Birla, Basant Kumar Birla, Basant Kumar Birla dead, Basant Kumar Birla death, Basant Kumar Birla passes away News

Kuwait investment firm MarkabCapital picks up controlling stakes in Uniply Industries

Keshav Kantamneni will retain 7% stake and continue in a key functional support role. The acquirer will make an open offer to public shareholders at a price of Rs 82 per share.

Kuwait, investment firm, MarkabCapital, Uniply Industries, Markab Capital, share purchase agreement News

UST Global former chief to roll out $75 million start-up aggregator VF

Sajan Pillai's newly-formed company SP Lifecare has invested in the segment of Rs 275-crore senior assisted living facility, harnessing a tech-intensive, light asset model.

UST Global, start-up aggregator, Sajan Pillai, SP Lifecare, global VF News

Nearly 50% tax on luxury cars in India absolutely unreasonable: Charles Frump, MD, Volvo Car India

The luxury market is hungry for recipes and we have the best recipe, something I am very proud of, says Charles Frump.

luxury cars, luxury cars in india, Charles Frump, Volvo Car India, Mercedes Benz, BMW, Audi News

Icra downgrades McLeod Russel’s rating to default

The total debt for McLeod Russel (MRIL) has significantly increased on account of high exposure to weak group companies, which has been largely funded by short-term debt, Icra said in its note.

Icra, McLeod Russel, McLeod Russel rating, McLeod Russel India, credit rating News

Hyundai unveils new engine technology to cut emissions, up performance

The valve control technology regulates the duration of valve opening and closing according to driving conditions, enhancing performance by 4% and improving fuel efficiency by 5%.

Hyundai, engine technology, emissions, car emissions, performance, Hyundai Motor Group News

SC to hear DoT plea on Bharti-Tikona merger

DoT had in August 2018 asked Bharti Airtel to pay a total of Rs 1,626.89 crore to clear the merger with Bharti Digital Networks (formerly known as Tikona Digital Networks).

dot, Bharti-Tikona merger, Tikona Wireless, Bharti Airtel, Tikona Digital Networks, supreme court News

Less government borrowing: Yields inch down in past 5 sessions

On Wednesday, the benchmark 10-year yield fell marginally by one basis points to close at 6.83%. The system has seen a liquidity surplus in the last four weeks.

government borrowing, government borrowing yields, Foreign portfolio investors, portfolio investors, market news

CARE downgrades Reliance Home Finance’s Rs 400 crore NCDs

CARE, in a press release, stated that the debenture trustee for RHFL’s NCD has informed the rating agency via its email dated July 1, 2019.

CARE rating, Reliance Home Finance, non-convertible debentures, Reliance Home Finance’s rating, market news

Sayadri Farmer Producer company claims to be largest grape exporter in 2018-19 season

Sahyadri Farms contributes 15% to the country’s grapes export. SFPC is among the major farmers’ producer companies in India with more than 8,000 marginal fruit and vegetable farmers.

Sayadri Farmer, Sayadri Farmer Producer company, largest grape exporter, Sahyadri Farms, vegetable farmers, fruit farmers News

AI Solutions: Making real estate firms smart

The full stack solution gives enterprises access to Square Yards’ proprietary tools and automated workflows for their sales, marketing, transactions, mortgage and post sales service functions.

AI Solutions, Artificial Intelligence, real estate, real estate firms, Square Yards News

24 feared dead as dam breach washes away Ratnagiri villages

The Tiware dam located off the Karad-Chiplun Road, which according to residents was due for repairs, had started overflowing in the evening.

Ratnagiri villages, atnagiri village dam, dam breach, Karad-Chiplun Road, Owali, Riktoli, Aakale, Daadar, Nandivase, Kalakavane News

NCLT clears Airtel fibre business demerger

The shareholders and creditors of Airtel had earlier approved the demerger proposal. As part of the scheme of arrangement, Airtel shall transfer its OFC business for a lump sum cash consideration of Rs 4,564.70 crore.

NCLT, Airtel fibre, National Company Law Appellate Tribunal, Bharti Airtel, Telesonic Networks Ltd News

Budget 2019 expectations India: Power sector hopes for wider funding from Modi government

Union Budget 2019 India: With the country planning to install 175 giga-watt (GW) generation capacity by 2022, the focus seemed to have shifted majorly on renewable energy.

budget 2019 india, budget 2019, budget india, budget 2019 india expectations, budget 2019 expectations News

Commercial Vehicles: Sales growth purely hinges on BS-VI pre-buying

It is strongly expected that the demand environment will gradually improve over the next three quarters, aided by recovery in demand from the construction sector, following release of payments to contractors after elections.

Commercial Vehicle, Commercial Vehicle growth, BS VI, BS-VI implementation News

Can Blockchain adoption be a silver bullet in fraud detection

Blockchain involves layering transaction information in the form of a hash block which is added to a distributed ledger that records all such transactions.

Blockchain, Blockchain adoption, fraud detection, digital transformation, new-age technologies News

Get income tax deduction on life insurance premium paid for adult children

While filing the Income Tax Return, in case the total tax payable is less than the total amount of TDS deducted, the difference can be claimed as refund.

tax reduction, life insurance, life insurance premium, adult children, SBI life News

How riders can make your life insurance cover more beneficial

These riders are nothing but additional covers such as term rider, accidental death and disability rider, waiver of premium rider, critical illness rider, etc., offering benefits beyond the conventional insurance policy.

life insurance, Term Rider, Accidental Death, Dismemberment, Premium Rider, personal finance News

There shouldn’t be tweeking with natural rubber import duty, says apex body

Natural rubber (dry form) was the only plantation commodity wherein the bound rate was fixed at a very low level of 25%.

natural rubber, natural rubber import duty, import duty, United Planters' Association of Southern India, economy news

PNB, Allahabad Bank, UCO Bank, Corporation Bank fined for violation of KYC norms

The action, however, is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI added.

rbi, PNB, public-sector banks, UCO BANK, Allahabad Bank, BANKING AND FINANCE News

NBFCs seek access to Mudra NHB-like refinance window

The immediate trigger behind the crisis was a series of defaults by entities from the Infrastructure Leasing & Financial Services (IL&FS) group in mid-2018.

NBFCs, Mudra NHB, refinance window, liquidity crisis, non-banking finance companies, market news

MG Motor ropes in Fortum to set up EV charging stations

The carmaker on Tuesday announced that it has joined hands with the Indian arm of clean energy major — Fortum Charge & Drive India — to install the country’s first 50-KW DC fast-charging EV stations.

MG Motor, Fortum Charge, Drive India, Delhi NCR, Hyderabad, Mumbai, Bengaluru, Ahmedabad News

RenewBuy raises $19 million in series B funding round

Balachander Sekhar, CEO, RenewBuy.com, said the new round of funding will enable the company to accelerate its entry into newer geographies and augment its product portfolio.

RenewBuy, RenewBuy funding, RenewBuy series B funding, series B funding round, Lok Capitalm, IIFL Wealth News

ED attaches Rs 110 crore assets of Simbhaoli Sugars

ED initiated investigation on the basis of an FIR registered by the Central Bureau of Investigation’s (CBI’s) bank security and frauds cell for defrauding Oriental Bank of Commerce on the pretext of financing sugarcane fa

Enforcement Directorate, Simbhaoli Sugars, Simbhaoli Sugars assests, Prevention of Money Laundering Act, companies News