Mumbai, Mar 13 (PTI) The fifth largest affordable housing player Shriram Housing Finance has set a target of doubling its loan-book to Rs 10,000 crore and become the third largest player by FY2024 on the back of a 45 per cent growth this fiscal at around Rs 5,300 crore. Shriram Housing Finance, promoted by Shriram [...]
New Delhi, Mar 13 (PTI) SpiceHealth and the Airports Authority of India (AAI) are putting the onus on each other for the "contamination" of COVID-19 testing machines at the Amritsar airport that led to approximately 64 percent of the passengers on two international flights falsely testing positive on arrival in January.SpiceHealth, which was then operating [...]
New Delhi, Mar 13 (PTI) The government's fertiliser subsidy bill in the current fiscal year may go up by about Rs 10,000 crore due to the Russia-Ukraine war, but higher tax revenues will help keep fiscal deficit close to the estimated 6.9 per cent level, an official said. The official further said the oil prices are [...]
New Delhi, Mar 13 (PTI) M1xchange, an online platform for discounting trade receivables of MSMEs, is targeting to double its customer base and hit transaction value of Rs 30,000 crore in the next fiscal year, as the market has huge growth potential, the company's top official said. The invoice discounting of the due payments of [...]
New Delhi, Mar 13 (PTI) Realty firm Birla Estates expects sales revenue of around Rs 11,000 crore from its newly launched luxury housing project in south Mumbai and has already sold properties worth Rs 1,000 crore, its CEO K T Jithendran said. Birla Estates Pvt Ltd, which is a wholly-owned subsidiary of BK Birla group's [...]
New Delhi, Mar 13 (PTI) Paytm founder and CEO Vijay Shekhar Sharma was arrested and granted bail last month for allegedly ramming his car into the official vehicle of the Deputy Commissioner of Police (South), the Delhi Police said on Sunday. The incident took place on February 22. Sharma was arrested the same day and [...]
In the second week of March 22 between 7th March to 13th March 2022, the share market witnessed a rebound with Sensex going higher +2,706.53 (5.12%) to 55,550.30 points and NSE’s benchmark index Nifty reclaiming 16,630 points by rebounding +803.30 (5.08%) points. The biggest market actions in the second week of March’22 involved FPI Sellings, [...]
New Delhi, Mar 13 (PTI) India's economic recovery from COVID-19 is progressing well, with better than expected growth rates, and the trajectory will continue but persistently high oil prices can play spoilsport, eminent economist Ashima Goyal said on Sunday. Goyal, who is also a member of the Monetary Policy Committee (MPC) of the RBI, further said [...]
New Delhi, Mar 13 (PTI) State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payout will be Rs 2,220.19 crore with a record date of March 22, the company said in a [...]
Toronto, Mar 13 (The Conversation) Western governments have united to bring in a number of serious economic sanctions against Russia in retaliation for its violence in Ukraine, including the latest announcement that the US is revoking Russia’s “most favoured nation” status that will impose new trade tariffs.The moves were not a surprise.The US and its [...]
Ottawa, Mar 13 (The Conversation) The wave of sanctions that has followed Russia’s invasion of Ukraine has been described with adjectives such as “massive” and “severe.” Another word has also often been used to describe sanctions on Russia: “targeted.” Ursula von der Leyen, the head of the European Commission, has even used both words side [...]
New Delhi, Mar 13 (PTI) RattanIndia Enterprises, which recently made a foray into the fintech business, looks to have tie-ups with all the banks by the end of the next financial year. The fintech platform of the company, BankSe, has an arrangement with 21 banks and financial firms to offer loan products, at present. "Plan [...]
New Delhi, Mar 13 (PTI) Macleods Pharmaceuticals is recalling two products in the US market due to deviation from standard manufacturing norms, according to a USFDA report. According to the latest enforcement report issued by the US Food and Drug Administration (USFDA), the US-based arm of the drug firm is recalling 3,672 bottles of Amlodipine [...]
Jabalpur, Mar 13 (PTI) The MP Power Transmission Company Limited's (MPPTCL) load dispatch centre here has been provided additional cyber security, after the facility was recently recognised as a 'heritage critical and protected system' by the Union government, an official said on Sunday. The MPPTCL set up a cyber security system at the state load [...]
India has become the fifth most valued stock market in the world after markets from the US, China, Japan, and Hong Kong. Equity markets, especially in India, are being impacted by the Russia-Ukraine conflict, which has resulted in sustained selling by foreign institutional investors (FII). Amid changes, ICICI Securities has recommended these 6 stocks that [...]
New Delhi, Mar 13 (PTI) The Russia-Ukraine issue, the US Fed interest rate decision and release of domestic inflation data are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Market experts believe that stock markets are likely to stay volatile until the existing headwinds subside. "FOMC [...]
Aerospace and defence technology major Rolls-Royce plc on Saturday said India will continue to be an “important and high potential” market for the company. Speaking at The Economic Times Global Business Summit Rolls-Royce plc Chief Executive Warren East CBE said that India is not only among the few large economies to have managed a very [...]
New Delhi, Mar 12 (PTI) Diageo-controlled United Spirits Ltd (USL) on Saturday said it will acquire a minorirty 22.5 per cent stake in Nao Spirits for Rs 31.5 crore. Diageo India will also have a call option to acquire the remaining shares on "pre-agreed principles" in Nao Spirits & Beverages Private Ltd, a joint statement said. Launched [...]
New Delhi, Mar 12 (PTI) Interest rate on employees' provident fund deposits on Saturday was cut to a four-decade low of 8.1 per cent for the 2021-22 fiscal from 8.5 per cent in the previous year. This is the lowest interest rate since 1977-78 on deposits that employees make towards their retirement fund. Interest rate [...]
Mumbai, Mar 12 (PTI) Japanese financial group Mitsubishi UFJ Financial Group (MUFG) is establishing a USD 300 million fund to invest exclusively in Indian start ups, a senior official said on Saturday. "MUFG is establishing a 300 million US dollar fund named MUFG Ganesha Fund to invest exclusively in seeding Indian start ups," MUFG's Member [...]
