FE Bureau

Articles By FE Bureau

21072 Articles

PSL benefits for bank loans to NBFCs for on-lending only till March 2020

The RBI also said that bank credit to NBFCs for on-lending will be allowed up to a limit of 5% of any individual bank’s total PSL on an ongoing basis.

The central bank also raised a bank’s exposure limits towards a single NBFC to 20% of the Tier-I capital of a bank against 15% currently. (Represnetational image) News

PVR, INOX put up a brace face to Reliance Jio Fibre’s offer

Called the ‘Jio-First-Day-First-Show’ service is planned to be launched in the middle of 2020.

Mukesh Ambani, chairman, RIL, on Monday said at the company’s 42nd AGM that Jio Fibre’s premium customers will be able to watch new movies in their living rooms the same day these movies are released in theatres. (PTI Photo) News

Mukesh Ambani’s ‘debt-free’ move: Reliance rallies the most in 2 years

Shares of RIL rallied the most in over two years as investors cheered company’s promise to bring its net debt to zero in 18 months.

The stock surged as much as 12% in intra-day trade on BSE, before settling at Rs 1,275.00, up 9.72%. News

CCI slaps penalty on Jaiprakash Associates for abusing dominant position

In the case under question, the regulator said adverse effects are clearly evident as customers have suffered due to lower common areas than what was envisaged.

The regulator imposed a penalty of Rs 13.82 crore on JAL. News

Ola ‘acquihires’ artificial intelligence start-up Pikup.ai

Ola expects this acquisition to deliver innovations that continue to improve safety and transform customer experience.

As part of the deal, Ola will hire Pickup.ai’s team. The start-up uses autonomous technologies like artificial intelligence, computer vision and sensor fusion to provide seamless solutions for business News

Smartphone shipments hit record 36.9 million in April-June

Offline channel registered an 8.5% Y-o-Y growth driven by the new launches in Samsung Galaxy A series, marketing activities by Vivo during IPL and Xiaomi’s growing multichannel distribution, it added.

A total of 69.3 million mobile phones were shipped to India in Q2 2019, which was up 7.6% over the previous quarter, IDC said. (Representational Image) News

Apollo Hospitals register 32 per cent growth in Q1 profit

Revenue has received a boost driven by positive trends at our mature hospitals, which reported revenue growth of 14%, and an improved performance from our new hospitals, which reported revenue growth of 20%.

He further said that Apollo Hospitals will continue to work towards a further improvement in the margins to 23% by the first half of FY21. (File photo) News

Bosch to restructure operations on weak automative demand

Meanwhile, the company has reported a 35% drop in its net profit for the quarter ended June 2019 to Rs 280 crore compared to Rs 431 crore in the same quarter last fiscal.

It is to be noted that Bosch has recently announced production suspension across its plants in Tamil Nadu, Karnataka and Maharashtra for a number of days to avoid inventory pile-up. News

5Paisa.com’s rights issue oversubscribed 111 pct

The firm’s stock also ended the day on a positive note at Rs 134.25, up by 2.44% or Rs 3.20, on BSE.

The rights issue opened on July 23 and closed on August 6. (Website image) News

Promoter pledges decline in June quarter

Companies in the Nifty-50 with over 5% of pledged promoter holdings were Adani Ports & SEZ (32.1%), Asian Paints (12%), IndusInd Bank (26.3%), JSW Steel (49.1%), Sun Pharmaceutical (11%) and Zee Entertainment (64%), says the

Promoters of 112 firms of the BSE-500 index have pledged their holdings. News

Guarantee for NBFC assets: Rules framed with tough riders

The guarantee provided by the government on the assets will be valid for 24 months from the date of purchase and can be invoked on the occurrence of default.

The NBFCs/HFCs can have the option to buy back their assets after 12 months as a repurchase transaction, on a right of first refusal basis. News

CSR obligation: Panel for making non-compliance a civil offence

The high-level committee, constituted in October 2018, made recommendations on strengthening the CSR ecosystem, including monitoring implementation and evaluation of outcomes.

The panel also emphasised on not treating CSR as a means of resource gap funding for government schemes. News

Uniphore raises $51 million in Series C funding

The company in the past had raised over $20 million through Series-A and B rounds from Krish Gopalakrishnan and ex-Cisco chairman John Chambers and other investors.

Though the Uniphore officials were tight-lipped on the valuation, market sources said that the firm is closer to becoming a Unicorn. News

Zee partners KPMG to train 450 front-line managers

“Spanning seven months, the participants would go through multiple interventions inclusive of case studies, skill-drills, role-play, webinars & e-reads across touch points to help build their managerial capabilities,” the

The programme aims to train 450 managers in the organisation over the period of two years. News

Jammu and Kashmir: Supreme Court refuses to intervene, for now

While the Centre submitted that it was doing everything necessary to maintain law and order in J&K, Poonawalla asked the SC to direct the government to restore essential services such as that in hospitals, police stations and

“Nobody can take even a one per cent chance… in case the position remains like this then we will take a call,” the judges said. News

Paddy stubble burning declines in western UP, Haryana and Punjab: ICAR

As harvesting of kharif paddy crop may start from October in these states, ICAR is geared up to distribute over 55,000 happy seeder machines this year.

The happy seeder machine is mounted on a tractor to sow wheat into the soil. News

CARE Ratings lowers outlook for Telangana solar projects to negative

Out of these, the agency has downgraded the ratings on projects of two subsidiaries of Acme Solar (Dayakara Solar and Grahati Solar) from A- to BBB+.

CARE Ratings, Telangana, Telangana solar projects, electricity distribution, Acme Solar News

Catholic Syrian Bank files DRHP with Sebi

The fund-raise will also help it to ensure compliance with guidelines related to Basel III regulations and other regulatory requirements.

Catholic Syrian Bank, SEBI, draft red herring prospectus, DRHP, Axis Capital, IIFL securities News

Exporters seek alternative scheme after MEIS removal

The revival of export growth was resumed when there was news that the government would announce Rebate of State and Central Taxes and Levies (RoSCTL) from October 2017 onwards though the announcement came on March 2019.

Exporters, Tirupur Exporters’ Association, Merchandise Exports, readymade garments, garments industry News

AePS boom: Aadhaar-enabled transactions cross 200 million mark in July

In July 2019, the transaction count of AePS stood at 220.18 million with a transaction value of Rs 9,685.35 crore, up from a transaction count of 194.33 million and value of Rs 8,867.33 crore in the previous month.

Payments, AePS, AePS transactions, National Payments Corporation of India, automated teller machines, AadhaaR-enabled payment system News

Kotak Investment achieves final close to fund at $1 billion

The fund was launched in February 2019 and is anchored by a $500-million commitment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Kotak Investment achieves final close to fund at $1 billion

Natco Pharma gets 6 observations from USFDA

The company said it will provide due justifications and corrective action plan within the next 15 working days to address the USFDA observations.

Natco Pharma, USFDA, Mekaguda Village, active pharmaceutical ingredient, Kothur facility News

Reliance Jio launches connectivity and cloud services for MSMEs

Talking about small businesses, Ambani said a bundle of connectivity, productivity and automation tools now costs a micro and small business between Rs 15,000 and Rs 20,000 per month.

Reliance Jio, Reliance Jio cloud service, start-ups, MSMEs, mukesh Ambani, connectivity, productivity News

Mukesh Ambani’s Reliance sees a $700 billion opportunity in New Commerce

Calling New Commerce as a new business opportunity of $700 billion, chairman Mukesh Ambani said, “The main purpose of New Commerce is to completely transform the unorganised retail market, which accounts for 90% of India's

Reliance Industries, online-to-offline, New Commerce, Mukesh Ambani, Internet of Things, Artificial Intelligence News

Jet Airways resolution: Anil Agarwal gets cold feet, pulls out of bid

“The EoI for Jet Airways by Volcan was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further,” said Agarwal in a statement on Monday.

Anil Agarwal, Jet Airways, Jet Airways bid, Vedanta, Jet Airways resolution process, Etihad airways News

After mobile, Reliance Jio set to disrupt fixed broadband market

Like the mobile broadband initiative here, too, Mukesh Ambani announced ambitious plans with tariffs aimed at disrupting the market.

Reliance Jio, broadband market, fixed broadband, Mukesh Ambani, mobile broadband, industry news

Reliance Industries debt reduction plan: Stake sale to Aramco, BP

The Aramco investment, together with the sale of a 49% stake to BP in the fuel-retailing entity for Rs 7,000 crore, is expected to net the company Rs 1.1 lakh crore.

Reliance Industries, RIL, Aramco, BP, Stake sale, RIl stake, industry news