FE Bureau

Karur Vysya Bank Q3 net plummets 70% to Rs 21 crore

The bank has witnessed asset quality weakening further in December quarter with the gross non-performing assets (NPA) as of December 2018 increasing to Rs 4,056 crore (8.49%) compared to Rs 2, 663 crore (5.95%).

Industry News

Coal India Q3 net rises 34% to Rs 4,566 crore

Until February, CIL supplied 407. 2 MT to the power sector, 7.3 % more than that supplied during the corresponding period last fiscal. This to a great extend addressed the sector’s woes, building up a coal stock in the ther

Industry News

Ford launches shared mobility app in Pune, to help 3.5 lakh commuters daily

R Mahadevan, country director, Ford Smart Mobility, India, said as a mobility company, they are working with cities to help address growing transportation challenges and this was the start of their collaboration with the Pune

Industry News

Analysts downgrade Motherson Sumi estimates after third quarter results

With regard to global operations, the Motherson management had highlighted that factors such as Brexit and the worldwide harmonised light vehicle test procedure (WLTP) rules will continue to keep the auto industry under press

Markets News

KKR’s NBFC arm invests Rs 725 crore in Embassy group project in Bengaluru

REEL operates waste treatment facilities in more than 60 locations across India, Singapore, West Asia and Africa. According to a release, the company handles 3.5 million tonnes of municipal waste and one million tonnes of ind

Industry News

NCLAT removes mortarium on 22 Indian, 133 foreign subsidiary of IL&FS

In a release, the Institute of Chartered Accountants of India (ICAI) Monday said ICAI ARF has been assigned the task of “reopening” of the books of IL&FS.

Investors require clarity on IL&FS, IL&FS, IL&FS NEWS

SpiceJet profit down 77% on high fuel costs, weak rupee

According to Indian Oil Corporation, the average aviation turbine fuel price was Rs 72,900 per kl during the October-December period against Rs 54,900 per kl a year ago, up 33% y-o-y.

Industry News

Lok Sabha clears Interim Budget amid walkout by Opposition

Replying to the debate on the Budget, finance minister Piyush Goyal said the government had initiated a lot of steps over the past four-and-a-half years for the poor, farmers and middle class, and the interim Budget was a log

Budget 2019 News

Zomato to turn 40% of delivery fleet into power-assisted bikes

Currently, the company has over 5,000 cyclists operating across 12 cities in India, with the majority of the fleet being in Delhi-NCR, Zomato said in a statement.

Industry News

PFC Q3 profit rises 71 per cent to Rs 2076 crore, borrowing cap raised before REC buy

The company’s board on Monday approved to raise its FY19 market borrowing limit to Rs 97,000 crore. In the beginning of the fiscal, the limit was set at Rs 57,000 crore.

Industry News

NTPC threatens to cut power supply to Jammu and Kashmir over dues of Rs 2,000 crore

As per the regulation notice sent to the electricity distribution company (discom) by NTPC, some of the bills for which payments have not been made were issued as early as February 2018.

Industry News

India Cements Q3 profit takes huge hit on rise in variable costs

This reduction in NPR, together with increase in input costs, has resulted in a lower Ebitda Rs 139 crore for the quarter compared to Rs 171 crore in the same quarter previous year, almost a drop of 19%.

Industry News

TPG announces final close of Asia-focused PE fund

TPG Asia VII has so far committed more than 40% of the capital across 12 companies.

Money News

Electronic Manufacturing Summit 2019: UST Global-Kerala govt joint venture laptop gears up for national debut

Coconics, the recent laptop manufacturing PPP in Kerala, also enjoys Intel’s technology hand-holding. “In the first phase, Coconics aims the educational, business and e-governance segments. Later, this can feed other sect

Industry News

Govt to sell up to 3% stake in Axis Bank to meet Rs 80,000 cr disinvestment target

At the end of December 2018, Suuti held a 9.56% stake in Axis Bank. The OFS is part of the government’s move to meet its disinvestment target of Rs 80,000 crore for FY19.

Markets News

Corporation Bank swings back in black as provisions decrease sharp 73 per cent

NII is the difference between interest earned and interest paid by a bank. The lender’s asset quality improved q-o-q with gross non-performing assets (NPA) of 17.36%, down 10 basis points over Q2FY19.

Markets News

As more farmers opt for Soybean, SOPA pegs output at 114.83 lakh tonne

As per SOPA estimates, the actual area in Maharashtra is 36.390 lakh hectare, which is 10% less than the government estimates of 40.433 lakh hectare. Soyabean output in Maharashtra is estimated to rise by 32% to 38.4 lakh ton

Markets News

Kerala’s ‘Kole’ paddy fields must be used as prawn farms: MPEDA

Such an initiative will work effectively in the coastal state that is endowed with water bodies and enjoys high domestic demand for prawns, MPEDA chairman KS Srinivas noted here at ASCEND Kerala 2019 meet, which aims to showc

Markets News

Covering cotton yarn under MEIS will boost India’s exports: Textile industry body

To benefit the farmers with better price for raw cotton, the Centre shall also bring the cotton yarn under MEIS coverage, said the Confederation of Indian Textile Industry.

Industry News

Petrotech 2019: 23 hydrocarbon blocks put up for auction under revenue sharing model

Under the OALP, once an explorer selects areas after evaluating the National Data Repository (NDR) and submits the EoI, it is to be put up for competitive bidding and the entity offering the maximum share of oil and gas to th

Economy News

Startup India: Oppo to support Indian firms for solving specific problems of mobile users

Through this partnership, both parties will work towards systematically developing a support system for startups and entrepreneurs in the specific areas of expertise.

Industry News

Maruti Suzuki starts car servicing at night in these five cities

It’s in five cities to start with; the company has trained workshop teams for night operations.

Industry News

Adopt new syllabus to drive innovation, says Prof CNR Rao

The event served as the official launch of the Wiley Innovation Black Book on Exponential Technologies, a guide on future-forward scenarios.

Budget 2019 budget announcements for education News

Angel tax row: War of words continues between taxmen and Delhi-based startup — Here’s what happened

Pushpinder Singh, founder, TravelKhana, responding to the CBDT clarification said in his blog that there was no cash transaction involving the company as alleged by the income tax department (ITD) notice.

Industry News

Election 2019: I have never seen such a united, cohesive, egos in pocket (opposition) moving ahead, says Derek O’Brien

Last week, WB CM Mamata Banerjee’s dharna to protest against CBI’s raid on Kolkata police commissioner Rajeev Kumar’s residence, turned into a show of Opposition unity. Politicians such as Andhra Pradesh CM N Chandrabab

India News

Gentleman’s game: When celebrating, you don’t get carried away, says Cheteshwar Pujara

Cheteshwar Pujara’s childhood revolved around cricket. His adult life has been about adapting to challenges — thrown by Dale Steyn’s high-quality bowling, Australian sledging, selection blues and public perception.

Sports News

Second cable connection: Network capacity fee not mandatory, says Trai

The regulator also said the regulatory framework allows broadcasters to offer discount or waive the NCF for second connection. However, such disicounts have to be uniform in the target market area of the TV channel distributo

Industry News
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