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  3. fe bureau

FE Bureau

Cognizant is among the world’s largest digital engineering firms, and Magenic is its second digital engineering acquisition in recent months following Tin Roof, a custom software and digital product development services company, that it acquired in September 2020.
Cognizant to acquire Magenic Technologies

Magenic works across a range of industries, including financial services, professional services, insurance, pharmaceutical, and manufacturing.

By FE Bureau
January 20, 2021 04:45 IST
The inflows received across six schemes are nearly 41% higher than anticipated in the maturity profile published for April 23, 2020. The borrowing levels in Franklin India Income Opportunities Fund continue to come down steadily and currently stand at 6% of AUM.
Six shut Franklin Templeton MF schemes get Rs 669 cr in first 15 days of Jan

Even Franklin India Short Term Income Plan turned cash positive recently, taking the total number of cash positive schemes to…

By FE Bureau
January 20, 2021 04:40 IST
The government has been expressing concerns over foreign entities picking up large stakes in start-ups, particularly at the early-stage seed capital and at very low valuations.
Govt should find ways to encourage more Indians to back local entrepreneurs, says Zerodha founder

Kamath, however, acknowledged that there has been a palpable change in the broader mindset and believes that the emerging crop…

By FE Bureau
January 20, 2021 04:30 IST
The bank’s gross NPAs as on December 31, 2020, were 7.69% against 16.77% on December 31, 2019, while net NPAs reduced to 2.59% in the quarter under review against 5.46% in the same period last year.
BoM Q3 net up 14% to Rs 154 cr helped by improved asset quality and higher interest income

In addition to growth in retail demand, investment in infrastructure and new projects had started pouring in, adding to the…

By FE Bureau
January 20, 2021 04:20 IST
He also stated that currently domestic investors can only invest in this high growth sector by investing directly in warehouses. (Representative image)
Welspun One Logistics Park launches AIF

Welspun One Logistics Park is a pan-India integrated fund, development and asset management platform backed by the $2.7 billion Welspun…

By FE Bureau
January 20, 2021 04:15 IST
However, had the bank classified borrower accounts as NPA after August 31, 2020, its proforma Gross NPA ratio and proforma Net NPA ratio would have been 3.42% and 1.93%, respectively, the bank sources said.
CSB Bank reports 89% y-o-y rise in Q3 net profit

The Thrissur-based lender had reported a net profit of Rs 28.1 crore in Q3 FY20 and Rs 68.9 crore in…

By FE Bureau
January 20, 2021 04:10 IST
It will be ensured that domestic manufacturers will have adequate stocks to meet domestic requirements while supplying abroad.
India to start supply of Covid vaccines to neighbouring countries from Jan 20

This is in keeping with India’s stated commitment to using indigenous vaccine production and delivery capacity to help humanity fight…

By FE Bureau
January 20, 2021 04:00 IST
niti aayog, Niti Innovation Index
Merely producing engineers not enough, says Niti Aayog CEO

He said India can actually create up to $1 trillion of economic value from the digital economy by 2025, up…

By FE Bureau
January 20, 2021 03:45 IST
Foreign portfolio investors bought stocks worth $2.9 billion so far in February, which have helped the market rally.
Sensex soars 834 points on US stimulus hopes

European markets in countries such as France, Germany and the United Kingdom up between 0.10% to 0.14%. Additionally, the Dow…

By FE Bureau
January 20, 2021 03:30 IST
Joshi, a former south Asia head of International Food Policy Research Institute (IFPRI), also said the committee is hopeful of completing the report within two months, as directed by the SC.
Farm laws: SC panel to submit ‘unbiased’ report within 2 months

“Our views may be different. When a responsibility like this is given by the court, we have to work in…

By FE Bureau
January 20, 2021 03:15 IST
A Bench led by justice Rohinton Nariman dismissed around 40 petitions filed by home-buyers and others challenging the rule, saying the petitioners have failed to prove arbitrariness in the provision of the threshold that was introduced by the 2020 amendment.
SC upholds threshold for home-buyers to move NCLT

“We aim to file a review in order to seek certain clarifications as well as modifications,” Sinha, who appeared for…

By FE Bureau
January 20, 2021 03:00 IST
In their representation to the finance ministry, the industry association has said that despite sufficient domestic capacity, nearly 60% of the domestic demand is currently being met through imports against the spirit of the self-reliance India.
Aluminium companies seek hike in customs duty

They also want to eliminate GST compensation cess on coal, around Rs 400 per tonne, to support the power-intensive aluminium…

By FE Bureau
January 20, 2021 02:45 IST
Elaborating on various schemes and events of Kerala Startup Mission (KSUM), he said women entrepreneurs will get up to Rs 15 lakh as loan.
Kerala looking into the possibility of setting up a dedicated VC fund

This will be done beside opening up the government market for startup consortiums and hiking the special fund for startup…

By FE Bureau
January 20, 2021 02:30 IST
Input costs also fell 18% in the first half of the fiscal given the subdued global demand for automobiles and softer crude prices (crude derivatives account for about 40% of raw material requirement).
Operating profits of tyre makers to surpass pre-Covid levels, says Crisil

Tyre offtake by OEMs is seen skidding 5-7% this fiscal primarily on account of a sharp decline in demand from…

By FE Bureau
January 20, 2021 01:00 IST
chola
Arun Alagappan resigns as Chola MD

Alagappan will be relieved from the services of the Chola effective February 14, 2021, the company said in a stock…

By FE Bureau
January 19, 2021 08:32 IST
Total has partnered with Adani to increase its presence in the country on other energy fronts as well.
20% stake: Total puts $2 billion into Adani Green

Currently, AGEL’s operational renewable energy portfolio stands at 3,000 MW, with an equal capacity under construction.

By FE Bureau
January 19, 2021 04:35 IST
The apex court had in November asked the government to submit a status report on extradition of Mallya within six weeks.
Extradition: Legal hitch delaying Vijay Mallya return, says Modi govt

Solicitor General Tushar Mehta told the bench led by Justice UU Lalit that the UK government has reassured the government…

By FE Bureau
January 19, 2021 04:20 IST
Though electrical audit inspection is supposed to be done every six months, the last inspection before the incident was carried out in July, 2019.
Hazira gas plant fire due to faulty gasket: PNGRB report

The report said that gaskets from the original equipment manufacturers (OEM) were not purchased, while the ‘O’ rings were bought…

By FE Bureau
January 19, 2021 03:00 IST
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