Economy News

Ashok Leyland gets patent for tech to help improve fuel economy
Sajan C Kumar | February 17, 2018 5:24 AM
Hinduja flagship commercial vehicle major Ashok Leyland has been granted a patent for its invention related to a technology for real-time road slope estimation, which could be used in predictive systems for improving fuel economy of vehicles.
Reliance Jio offers 2,200 cash back on smartphone purchase
FE Bureau | February 17, 2018 5:17 AM
Reliance Jio has tied up with 22 handset manufacturers and will offer to new as well as existing subscribers cash back of `2,200 if they purchase a smartphone and recharge it with the operator’s `198 or `299 plans.
SC asks firm to deposit `90 cr for agreeing to buy Unitech land
FE Bureau | February 17, 2018 5:09 AM
The Supreme Court on Friday directed Chennai-based Omshakty Agencies, which had entered into an agreement with Unitech, to deposit `90 crore with the court’s registry by March 31.
Realty coming out of doldrums on RERA, GST, says survey
FE Bureau | February 17, 2018 5:04 AM
The real estate sector has started showing signs of revival. According to the FICCI-NAREDCO-Knight Frank India’s latest survey findings for the period of October-December 2017, the realty sector is slowly but surely coming out of the doldrums.
Mahindra leads $40-m investment in Zoomcar
FE Bureau | February 17, 2018 5:00 AM
Self-drive car rental start-up Zoomcar has raised $40 million in a Series C funding round led by auto major Mahindra & Mahindra (M&M).
NCLT ruling: Insolvency OK even if plea for winding up is pending in HC
Surya Sarathi Ray | February 17, 2018 4:50 AM
Insolvency proceedings can be started against a company even if the winding up petition against it is pending in a high court, the principal bench of the National Company Law Tribunal
SBI’s `1,935-crore loans up for ARC bids
Shritama Bose | February 17, 2018 3:16 AM
State Bank of India (SBI) on Friday put on sale loans worth `1,935.62 crore to 24 different entities. It has sought bids for these from asset reconstruction companies (ARCs) on cash basis or a mix of cash and security receipts (SRs), according to a sale document.
LIC to invest 10k crore in equities in Q4
FE Bureau | February 17, 2018 3:11 AM
Life Insurance Corporation of India (LIC), the country’s largest insurer and the biggest life insurer, has invested `70,000 crore in equities till the end of the third quarter ended December 31, 2017, and it plans to invest another `10,000 crore before the end of the financial year.
Maintain ‘buy’ on Dhanuka Agritech with TP of `861
Edelweiss | February 17, 2018 2:54 AM
Dhanuka Agritech’s (DAL) Q3FY18 revenue at `2.2 billion (up 5% YoY; 7% volume growth) came 5% below estimate as low crop prices, erratic monsoon and GST impacted performance.
HG Infra Engg plans `462-crore IPO, offer opens on Feb 26
FE Bureau | February 17, 2018 2:48 AM
Jaipur-based infrastructure construction, development and management company, HG Infra Engineering is planning to raise `462 crore through an initial public offer (IPO). The price band for its public offer has been set at `260-270.
Q3: Operating performance was below par
Nomura | February 17, 2018 2:24 AM
Glenmark’s Q3FY18 operating performance was lower than our estimates. Net revenues at `22 bn were down 13% y-o-y, 0.8% lower than our expectations.
Volume growth for company at inflection point
Motilal Oswal | February 17, 2018 2:16 AM
We visited Jindal Steel and Power (JSP)’s Angul, Raigarh and Tamnar facilities. Crude steel production at Angul is gathering pace.
Volatile quarter but the trend is improving
Jefferies | February 17, 2018 2:10 AM
Although volatile & wider vs expectation, trends broadly reflect a strengthening core profitability, peak stress but elevated provision needs.
Karnataka’s election-eve budget rolls out sops
FE Bureau | February 17, 2018 12:53 AM
Two months ahead of assembly elections, Karnataka chief minister Siddaramaiah presented the budget for 2018-19, rolling out sops such as free LPG connections and a universal healthcare plan.
UP budget for FY19 focuses on capex, infrastructure
FE Bureau | February 17, 2018 12:50 AM
The Yogi Adityanath government on Friday tabled a `4.28-lakh-crore budget for FY19 — 11.4% higher from last year’s — that primarily focuses on infrastructure.
Road construction pace up in April-January at 21.46 km a day
Surya Sarathi Ray | February 16, 2018 5:10 AM
The pace of building highways picked up and touched 21.46 km a day in the April-January period of 2017-18 compared with 18.30 km per day in the same period last fiscal.
No one will be spared over Rs 11,400-crore fraud at Punjab National Bank , says Union minister Ravi Shankar Prasad
FE Bureau | February 16, 2018 5:03 AM
Under relentless attack from a united Opposition over the Rs 11,400-crore fraud at Punjab National Bank (PNB) involving jeweller Nirav Modi, the government on Thursday asserted that no one, however high and mighty.
States to deposit funds collected under NMET to consolidated fund
Surya Sarathi Ray | February 15, 2018 5:36 AM
States will now have to deposit the fund collected under the National Mineral Exploration Trust to the Consolidated Fund of India instead of the trust’s own bank account.
Fund diversion: Big setback for 8 builders, YEIDA issues notices – Check list of realtors here
FE Bureau | February 15, 2018 5:25 AM
The Yamuna Expressway Industrial Development Authority (YEIDA) has issued notices to eight builders for allegedly diverting (Rs 840 crore meant for completing construction of flats.
Import duty hike: Sindh government’s subsidy offer prompts India’s sugar move
Banikinkar Pattanayak | February 14, 2018 5:03 AM
A 70% duty needed to stop cheaper imports from Pak via Mumbai and 100% for supplies via Wagah,
India, Iran to discuss deepwater pipeline
Huma Siddiqui | February 14, 2018 4:50 AM
Besides the $500-million Chabahar agreement aimed at expanding bilateral cooperation, India and Iran will discuss the Middle East to India Deepwater Pipeline (MEIDP) when Iranian President Hassan Rouhani meets Prime Minister Narendra Modi in New Delhi later this week.
5 killed, 7 injured in blast on ship under repair at Cochin Shipyard
FE Bureau | February 14, 2018 4:45 AM
Five workers died and seven others were injured in a fire accident on a ship that was under repair at Cochin Shipyard (CSL) on Tuesday morning, CSL sources said in a press release.
Government, financial portals face 40 percent of all cyber attacks
FE Bureau | February 14, 2018 4:34 AM
Government websites and those by financial institutions, including banks, face around 40% of all cyberattacks and data breaches taking place in the country, government sources revealed.
Industry impacted by GST; AI may replace accountants in 10 years: Survey
FE Bureau | February 14, 2018 4:28 AM
The survey findings emphasised the importance of accounting professionals for businesses to be compliant with GST, underscoring the willingness for compliance and the trust of people in the acumen and expertise of accounting professionals.
IIP grows a healthy 7.1 percent in December
FE Bureau | February 13, 2018 6:07 AM
Retail inflation falls to 5.07 percent, but oil prices, MSPs pose risks.
Refund delays may have hit exports in October, says RBI paper
FE Bureau | February 13, 2018 6:02 AM
The implementation and refund delays under the goods and services tax regime may have led to working capital constraints for firms, which in turn might have hurt their exports in October 2017, a paper put out by researchers at the Reserve Bank of India said.
Canadian PM Justin Trudeau on India visit from February 17-23
Huma Siddiqui | February 13, 2018 5:57 AM
With the focus on bolstering economic and cultural ties between the two countries, Canadian Prime Minister Justin Trudeau will be on a state visit to India from February 17-23.

Budget 2018

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SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more

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