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BUSINESS

National Peroxide temporarily shuts down plant in Maharashtra

National Peroxide has temporarily shut down its plant located at Kalyan, Maharashtra from September 30, 2019, for carrying out expansion of production capacity from 95,000 MT per annum (50%w/w) to 150,000 MT per annum (50%w/w). The increased capacity will help the company to improve its market share and overall performance. ... Read More »

Asian Granito expands bathware range

Asian Granito India is entering faucets, showers, and bath accessories to provide ‘Complete Bathroom Solutions’ to leverage its vast distribution reach and brand equity. The Company to commence commercial operations by December 2019 with around 12-15 series and expand gradually including launching premium range in the coming time. The Company ... Read More »

Central Bank of India allots Bonds worth Rs 500 crore

Central Bank of India has allotted 500 numbers of Non-Convertible, Taxable, Redeemable Unsecured Basel III compliant Tier II Bonds (Series IV) aggregating to Rs 500 crore. The Capital Raising Committee of the bank at its meeting held on September 30, 2019 has approved the same. Central Bank of India is ... Read More »

Some Boeing 737 NGs to be inspected for structural cracks

New Delhi, Sep 30 (udaipur kiran) India’ civil aviation regulator has ordered inspection of a limited number of Boeing 737 NG (next generation) aircraft which have completed 26,000 flight cycles for structural cracks, after the defect was reported in the US. According to a Directorate General of Civil Aviation (DGCA) ... Read More »

April-August fiscal deficit at 78.7% of budgetary target

New Delhi, Sep 30 (udaipur kiran) India’s budgetary fiscal deficit for the April-August 2019-20 period came in at 78.7 per cent, or Rs 5.538 lakh crore, of the budget estimates (BE), official data showed on Monday. The government has targeted the fiscal deficit to be at Rs 7.03 lakh crore ... Read More »

EoW files FIR against officials of HDIL, PMC Bank

Mumbai, Sep 30 (udaipur kiran) The Economic Offences Wing (EoW) of Mumbai Police has registered an FIR against senior officials of Housing Development and Infrastructure Ltd (HDIL) and Punjab and Maharashtra Cooperative (PMC) Bank over allegedly causing losses to the tune of Rs 4,355.43 crore to the bank. The FIR ... Read More »

Gear Change: Lower cost due to tax sops to fuel auto demand

By Rohit Vaid New Delhi/Mumbai, Sep 30 (udaipur kiran) Lower automobile costs resulting from the recent tax sops announced to prop-up growth and reverse the economic slowdown, along with the upcoming festive season offers, have the potential to accelerate the sector’s sales, industry insiders said. Market observers contended that reducing ... Read More »

Clix Capital raises $40 mn from existing investors

New Delhi, Sep 30 (udaipur kiran) Digital lending player Clix Capital Services Pvt Ltd on Monday announced that it raised $40 million (around Rs 280 crore) from its existing investors AION Capital Partners Ltd as well as promoters Pramod Bhasin and Anil Chawla in its latest round of capital infusion. ... Read More »

India’s June quarter external debt rises to over $557 bn

Mumbai, Sep 30 (udaipur kiran) India’s external debt for the quarter-ended June 2019 rose to $557.4 billion, from $543.3 billion during the previous quarter and $513.1 billion in the year-ago period. According to the Reserve Bank of India’s external debt statistics released with a lag of one quarter, the country’s ... Read More »

India’s Q1 current account deficit narrows to $14.3 bn

Mumbai, Sep 30 (udaipur kiran) Lower crude oil prices, along with higher earnings from invisible trade such as services, aided in narrowing India’s current account deficit to $14.3 billion in Q1 of 2019-20. The Reserve Bank of India’s data on India’s Balance of Payments (BoP) showed that CAD narrowed from ... Read More »

Govt sticks to Budget numbers, says no sovereign borrowings

New Delhi, Sep 30 (udaipur kiran) The government will borrow Rs 2.68 lakh crore through gilts or bonds in the second half (October-March) period under gross borrowings programme, sticking to the budget numbers, and will hold 17 weekly G-Sec auctions in the same period, Economic Affairs Secretary Atanu Chakarborty said ... Read More »

Production up, but garlic prices jump 40% in September

By P.K. Jha New Delhi, Sep 30 (udaipur kiran) Garlic prices jumped up to 40 per cent in the last one month even after production of this crop was 76 per cent higher than the previous year. On Monday, garlic price in Delhi was Rs 200 per kilogram. Meanwhile in ... Read More »

Indian cement industry commits towards waste management

New Delhi, Sep 30 (udaipur kiran) The Cement Manufacturers Association (CMA) on Monday expressed its commitment towards disposal of wastes and plastics and use of alternate fuels and raw materials. Addressing the ‘CONSERVE 2019’ conference on alternate fuel and raw materials in the cement industry, CMA President Mahendra Singhi said: ... Read More »

NBCC may offer to keep Jaypee Infra’s unsold stock for now

By Rituraj Baruah New Delhi, Sep 30 (udaipur kiran) Reversing its offer on bankrupt Jaypee Infratech’s (JIL)unsold inventory, public sector construction major NBCC may decide to monetise these assets on its own, rather than leaving the exercise for the bankers. Sources said that the NBCC, in a revised resolution plan ... Read More »

RInfra engineering, defence segments to be asset, capital light

Mumbai, Sep 30 (udaipur kiran) Reliance Infrastructure (RInfra) on Monday said that going fo rward both its engineering and construction, as well as defence businesses will remain “asset and capital light”. Addressing the company’s AGM here, Reliance ADAG Chairman Anil Ambani on Monday said: “Going forward both the growth engines ... Read More »

RPower ‘ideally’ placed for strong performance: Anil Ambani

Mumbai, Sep 30 (udaipur kiran) Reliance Anil Dhirubhai Ambani (ADAG) Group Chairman Anil Ambani on Monday said that Reliance Power is ideally positioned to deliver a strong operating and financial performance. Addressing the Annual General Meeting of Reliance Power, Ambani observed that the company is among the top three private ... Read More »