Remote work has been on the rise since the outbreak of the COVID-19 pandemic. It's no surprise that businesses have had to adjust to remote work conditions to keep up with the changes. However, it can be challenging to track employee hours and productivity when they are working outside the traditional office environment. Fortunately, with [...]
Beverage major Coca-Cola India Ltd has acquired a minority 15 per cent stake in Hashtag Loyalty, which owns the food ordering platform Thrive. This move will help Coca-Cola to get benefitted from Thrive, which has a partnership with over 12,000 restaurants across India. Hashtag Loyalty is an associate of the country's leading QSR chain operator [...]
Continued government push to build infrastructure will drive cement demand further this fiscal by 8-9 per cent on top of a 9 per cent growth in FY22, which will help the sector see some recovery in profitability, a report said. According to India Ratings, which has a neutral outlook for the sector for the year, [...]
State-owned Bank of Maharashtra (BoM) on Monday announced increase in the marginal cost of funds based lending rates (MCLR) by 10 basis points across tenors. The revision in MCLR is effective from April 15, 2023. The benchmark one-year MCLR is up by 10 basis points to 8.50 per cent, it said. The one-year rate is [...]
As many as 76 key infrastructure projects worth about Rs 5.14 lakh crore of different ministries have been evaluated under the PM Gati Shakti initiative in the last one year, a senior official said on Monday. These projects have been recommended by the Network Planning Group (NPG) constituted under the PM Gati Shakti initiative launched [...]
With software exports hitting a record high of USD 320 billion in FY23, the country's share in global computer services exports has jumped to around 11 per cent in the year, according to an analysis. But the country still lags in the overall services export share at about 4 per cent, according to analysis of the [...]
The dispute panel of the Geneva-based World Trade Organisation (WTO) on Monday said the import duties imposed by India on certain informational and technology products violates global trading norms. The ruling followed a dispute filed by the European Union, Japan and Taiwan against these duties in the WTO. "We recommend that India bring such measures [...]
Two individuals on Monday offloaded shares in NBFC company Poonawalla Fincorp Ltd for Rs 290 crore through open market transactions. The two individuals are Sanjay Chamria and Mayank Poddar, who were the co-founders of Magma Fincorp Ltd (now known as Poonawalla Fincorp Ltd). According to the block deal data available with the National Stock Exchange [...]
The Competition Commission of India (CCI) on Monday said it has cleared the stake acquisition in VVDN Technologies by IBEF-IV under the green channel route. India Business Excellence Fund - IV (IBEF-IV) is a Sebi-registered alternative investment fund (AIF). The proposed combination relates to the acquisition of shareholding by the IBEF-IV through a combination of [...]
Media firm TV18 Broadcast Ltd on Monday reported a 91.09 per cent decline in its consolidated net profit at Rs 19.66 crore in the fourth quarter ended on March 31, 2023, on account of a fall in advertising revenue. The company had posted a net profit of Rs 220.85 crore in the January-March period of [...]
Union Minister Nitin Gadkari on Monday called for active support from states and UTs to strengthen policies and strategies for the transformation of the road transport sector, according to an official statement. The Union road transport and highways minister chaired a meeting of transport ministers from all states and Union Territories (UTs) to discuss various [...]
Equity benchmark indices rebounded in early deals on Tuesday after falling sharply in the previous trade amid strength in the US markets. The 30-share BSE Sensex climbed 202.72 points to 60,113.47 in early trade. The broader NSE Nifty gained 59.75 points to 17,766.60. Among the Sensex firms, Tata Motors, HCL Technologies, IndusInd Bank, Maruti, Nestle, [...]
Two and three-wheeler maker TVS Motors on Monday announced the launch of the TVS NTORQ 125 Race Edition at the Makina Auto Show in Philippines. The vehicle comes with TVS SmartXonnect TM that lets the rider connect their smartphone to the scooter, unlocking a host of smart connected features. These can be accessed through an [...]
Inflow in gold exchange-traded funds (ETFs) dropped 74 per cent year-on-year to Rs 653 crore in 2022-23, mainly due to profit booking in this asset class and investors' preference for equities. However, the asset base of gold ETFs and investors' account or folio numbers increased in the last fiscal, data from the Association of Mutual [...]
Private equity and venture capital funds' investments declined by 4 per cent to USD 5.3 billion in March 2023 as against the year-ago period, a report said on Monday. In terms of number of deals, there were only 82 transactions in March 2023 as against 125 in the year-ago period, as per the report by [...]
According to the Association of Mutual Funds in India, inflows into equity markets are on the rise. The inflows reached a 12-month high in March 2023 at ₹ 20,534 crores and they were at ₹ 15,685 crores in February and at ₹ 12,546 crores in January 2023. Meanwhile, the assets under management (AUM) of the [...]
The South Central Railway (SCR) Zone has earned a Gross Originating Revenue of Rs 18,973.14 crore during the fiscal 2022-23, which is the highest originating revenue earned by the Zone since its inception, a senior official said on Monday. "Backed by proactive planning and dedicated efforts by Team SCR on all segments of its operation, [...]
Godrej Capital, the financial services arm of the Godrej Group, is looking at a loan book of Rs 12,000 crore this fiscal, up from Rs 5,500 crore in the just-concluded fiscal. The company, among the youngest NBFCs, began operations only in late 2020 as a housing finance firm, primarily to serve the group's realty arm [...]
The state-run Kerala Feeds Limited (KFL) on Monday said it has posted impressive results in 2022-23 with its total sales turnover going up to Rs 621 crore from Rs 577 crore the previous year. In a release, KFL, a State Public Sector Undertaking, said it has played a vital role in the growth of the [...]
Union power minister R K Singh on Monday inaugurated POWERGRID Vishram Sadan, which would provide boarding and lodging facility to attendants of patients getting treatment in the premises of SSG Hospital in Vadodara. "POWERGRID Vishram Sadan was inaugurated through video conference by R K Singh, Union Minister for Power, New and Renewable Energy," a statement [...]
