Mumbai, Sep 28 (IANS) Come Monday, Indian Railway Catering and Tourism Corporation (IRCTC), a subsidiary of the Indian Railways, will hit the market with the initial public offering (IPO), likely to be the largest of the IPOs issued by the IR subsidieries, at Rs 635-645 crore. The IPO will open in a price band of … Read more
New Delhi, Sep 28 (IANS) Asserting that all payment delays to the vendors to be ironed out at the earliest, Finance Minister Nirmala Sitharaman on Saturday directed the CPSEs to clear all outstanding payments by October 15 to kick off investment cycle in the economy and sought their estimated capex plans for the next four … Read more
Mumbai, Sep 28 (IANS) Come Monday, the Indian Railways will hit the country’s stock markets with its fourth and largest Initial Public Offer (IPO), that of the IRCTC worth over Rs 635 crore. The state-run firm’s IPO will open on September 30 with a price band of Rs 315-Rs 320 per share taking the issue … Read more
New Delhi, Sep 28 (IANS) Finance Minister Nirmala Sitharaman on Saturday asked the Central Public Sector Enterprises (CPSEs) to clear their dues by October 15. Addressing a press briefing here after meeting with the representatives of 32 CPSEs, she pointed out that a drive has been started to clear all pending dues. Besides, an online … Read more
Chennai, Sep 28 (IANS) Private sector Lakshmi Vilas Bank on Saturday said the Reserve Bank of India (RBI) had initiated Prompt Corrective Action (PCA) against it on account of its high non-performing assets (NPA) and others. In a statutory filing in the BSE, Lakshmi Vilas Bank said: “The RBI has initiated PCA on account of … Read more
Mumbai Sep 28 (IANS) Reliance Capital Ltd. on Friday announced successful completion of 21.54 per cent stake in Reliance Nippon Life Asset Management Ltd (RNAM) to Nippon Life Insurance of Japan (Nippon) for sale proceeds of Rs 3,030 crore ($430 million), pursuant to binding definitive agreement signed on May 23, 2019. Reliance capital will further … Read more
New Delhi, Sep 27 (IANS) Along with reducing Rs 5,000 in prices of its bestselling cars, automobile major Maruti Suzuki has reduced the ex-showroom price of its Baleno RS by Rs 100,000. “This is to inform that Maruti Suzuki India Limited announced a price reduction of select models by Rs 5,000 on September 25, 2019,” … Read more
Mumbai, Sep 27 (IANS) India’s foreign exchange reserves declined by $388 million during the week ended September 20, official data showed on Friday. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves declined to $428.57 billion from $428.96 billion reported for the week ended September 13. India’s forex reserves comprise … Read more
Bengaluru, Sep 27 (IANS) E-commerce major Flipkart’s festival season sale ‘The Big Billion Days’ kickstart on Saturday with around 15 cr products across 80 segments, the company said in a statement. “… 80 categories, over 150 million products, lakhs of brands, 1 lakh plus sellers from over 2,000 cities and towns, and for the first … Read more
Hyderabad, Sep 27 (IANS) Suresh Chitturi, Vice Chairman and Managing Director of Srinivasa Farms, has been appointed as Chairman of International Egg Commission. The first Asian to become Chairman of IEC, he will hold the position for the next two years. His work has been recognized at a global level as he is engaged in … Read more
New Delhi, Sep 27 (IANS) In a major setback for Indibulls Housing Finance Ltd (IBHFL), a public interest litigation has been filed against the company in the Delhi High Court for alleged irregularities, violations and siphoning of funds. The company, however, in a statement, denied any wrongdoing, saying it has filed an application before the … Read more
Mumbai, Sep 27 (IANS) US domestic political developments along with profit booking dragged the Indian equity markets down on Friday. Both the key indices — the S&P BSE Sensex and the NSE Nifty50 — declined by around 0.50 per cent. The losses were led by the BSE Metal, Realty, Healthcare and Auto indices. Index-wise, the … Read more
By Nirbhay Kumar New Delhi, Sep 27 (IANS) As decks are being cleared for privatization of national carrier Air India, government is considering five key suggestions given by Ajay Singh-controlled SpiceJet to make India a global aviation hub. Niti Aayog, the government’s think tank, has written to the Civil Aviation Ministry for giving its recommendation … Read more
Panaji, Sep 27 (IANS) The Goa government, along with the Union Civil Aviation Ministry, is in talks with Air India to ply additional flights from London to Goa in a bid to tide over the crisis arisen following the collapse of leading travel agency Thomas Cook, Goa Small and Medium Hoteliers Association president Serafin Cotta … Read more
New Delhi, Sep 27 (IANS) Finance Minister Nirmala Sitharaman on Friday said the government’s capital expenditure was on track and asked the ministries and the PSUs to clear all non-litigation dues at the earliest to keep the investment and consumption cycles active while stating close to 90 per cent of the outstanding GST dues have … Read more
New Delhi, Sep 27 (IANS) In a major setback for Indibulls Housing Finance Ltd (IBHFL), a public interest litigation (PIL) has been filed against the company in the Delhi High Court for alleged irregularities, violations and siphoning of funds. The High Court has issued a notice to the company, Ministry of Corporate Affairs (MCA), Reserve … Read more
Mumbai, Sep 27 (IANS) Mumbai-based low-profile company, Motech Software Pvt. Ltd., with ex MP Annu Tandon – whose husband Sandeep Tandon worked with RIL – as its MD, could be allegedly involved in the Swiss black money trail sought to be unearthed by India. However, as per some reports not confirmed, Motech Software had later … Read more
New Delhi, Sep 27 (IANS) The government has compulsorily retired 15 more senior Income Tax (I-T) Department officials on alleged charges of corruption. Sources here said on Friday that the Officials have been sacked under the Fundamental Rule 56 (J) and in the public interest. This is the fourth batch of officers who have been … Read more
–Indo-Asian News Service nk-rv/arm
New Delhi, Sep 27 (IANS) Finance Minister Nirmala Sitharaman on Friday said the government’s capital expenditure plans are on track as per the budget targets. Addressing the media after meeting with financial representatives of several key ministries, she said that no overdue payments have been held back by any government departments. Sitharaman also said that … Read more