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Amtek Auto to be wound up on NCLAT order
Liquidation value for bankrupt auto components maker, which owes lenders Rs 12,603 crore, is Rs 4,119 crore
Article 370: Supreme Court frets over filing of defective petitions
The Supreme Court on Friday refused to examine the petitions against scrapping of Article 370 of the Constitution, saying the pleas filed on the “serious issue” suffer from defects.
Don’t look down on wealth creators, says PM Modi in Independence Day speech
Holds meet with FM on slowdown amid buzz on tax relief, says India to have chief of defence staff, pushes for population control
PSU banks post profits in Q1 on strong treasury gains
Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.
Maruti, Hyundai, Mercedes, Tata Motors will make it to Auto Expo
Among those who confirmed they will stay away include Lamborghini, Porsche, BMW and Bajaj Auto. Audi, Eicher Volvo and Ashok Leyland are yet to make up their minds but there is enough time to sign up.
OTT players like Netflix earn extra moolah from merchandising
Besides Stranger Things, Netflix has licensed products for shows like Riverdale and other originals.
No windfall coming: Bimal Jalan panel sticks to staggered transfer of RBI surplus
The panel held its last meeting on Wednesday and is learnt to have retained its major recommendations despite a change in its composition after new finance secretary Rajiv Kumar had replaced Subhash C
GST losses: States want Finance Commission to recommend support for five more years
States have appealed to the 15th Finance Commission (FC) to recommend extending the time period for which they would be compensated up to 14% revenue growth in the event of a shortfall in GST collecti
Outlook negative: Indiabulls Housing Finance downgraded by Moody’s
The downgrade reflects renewed pressure on the cost and availability of funds for IBH and certain other finance companies in India.
Future retail: Amazon close to picking up 10 per cent stake
India’s No. 2 retailer by turnover, Future is seeking a valuation of about Rs 2,000 crore ($281 million) from Amazon for the stake, according to the people, who asked not to be identified.
In a mess: Sensex crashes 624 points, bank Nifty 703
Since July 5, FPIs have pared their portfolios in all sessions barring three, offloading shares worth over $3 billion.
Slowdown bites: Auto sales see steepest slump in two decades
Analysts said higher inventory levels are likely to stay the same in the near term as retail is not picking up due to lack of easy credit availability.
Amrapali case: SC asks Noida authorities to start registration of flats
The authorities told the judges that they have created a special cell to deal with cases of the Amrapali hombuyers and officials have also been designated to look into the issue.
USOF: Funds meant for rural connectivity being spent elsewhere
Looking at the funds which have accrued to the USOF since its inception on April 1, 2002, it becomes clear that disbursal for telecom connectivity projects in rural areas is sparse.
Offshore Sovereign Bond: Government to gauge macro risks before taking final call
On top of these, the government will also have to decide if the overseas borrowing will be an annual feature or such securities will be issued only occasionally when there is a pressing need for it.
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 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.
Economic slowdown: Govt plans urgent steps to boost exports
Though the goods and services tax (GST) regime has subsumed a plethora of levies, some still exist (petroleum and electricity are still outside the GST ambit, while other levies like mandi tax, stamp
Bank of Baroda launches loans linked to repo rate
BoB customers opting for the home loan product would have a choice between MCLR-linked rate — indexed to the bank’s cost of funds — or a rate linked to RBI’s repo rate.
Real estate: Centre weighs stress fund, Hardeep Singh Puri to head committee
Sources said the real estate industry flagged an “unrest” on account of liquidity crunch and poor sales, which has created a “fragile situation”.
Turf war: DoT rejects space department’s reserved spectrum demand
The earth stations for managing the synchronisation of clock signals from the satellite system have been located at places like Hassan, Bhopal, Jodhpur, and Shillong.
Jet Airways resolution: Vedanta entity submits EOI
Over the next few days, the EoIs will be evaluated and the resolution professional (RP) for Jet is expected to issue a provisional list of eligible applicants, if any, by August 13.
Maruti slips on weak rural demand, fewer new models
Maruti’s smaller cars —which account for 30% of its total volumes — didn’t do well in the April-June quarter, clocking 1.2 lakh units compared with 2 lakh in April-June, 2018.
Taking stock: First quarter a big dampener, no signs of demand revival
Volume growth has been tepid whether for two-wheelers or FMCGs and few companies have been able to demonstrate pricing power.
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BUDGET 2019
- Budget 2019: Central govt to contribute 14% to NPS, employees to get 80C benefit on Tier-II deposits from April 1
- Budget 2019: Hike in import duty may dampen the gold rush
- Budget 2019: More power to villages; Rs 2 lakh crore allocated to Panchayats in five years
- Budget 2019: Healthcare sector expects hike in exemption limits for health checkup, medical reimbursement
