Iran is struggling to spend the rupees it’s made from oil sales to India that are sitting in the south Asian nation’s banks. Meanwhile, sugar stockpiles are stacking up in India after a bumper crop. Now the two have struck a deal that eases each other’s woes -- albeit only to some extent.
A bench of Justices Arun Mishra and U U Lalit said: "We had never stopped any agency from arresting the directors, who are presently housed at a hotel under the detention of UP police." The apex court also directed attachment of personal properties of Sharma and other directors.
The 30-share index took off on a strong footing, advancing to a high of 36,085.85 in early session largely on the back of sustained foreign fund inflows and covering-up of short positions by speculators.
Future Retail, which operates local retail chains such as Big Bazaar, Foodhall and Nilgiris, plans to set up 7-Eleven stores as well as convert some of its existing operations into the US brand, the company said.
The department said refunds will be sent to bank accounts as it will issue "only e-refunds from March 1, 2019." Link your PAN (permanent account number) with your bank account to get your refund directly, swiftly and securely, the department said in a public advisory issued Wednesday. It added the bank account could be either savings, current, cash or overdraft.
Going by this formula, which is linked to the battery capacity, a buyer of Mahindra E-Verito may get a subsidy of around Rs 1.5 lakh, while a buyer of a good quality electric two-wheeler could get around Rs 40,000. For electric buses, the subsidy would be up to Rs 60 lakh.
“We have initiated legal action against companies that have defaulted on due payment to IFIN, after giving them adequate notice to make payment. We also propose to take legal action in cases where loans have been sanctioned in collusion — by concerned committee of office bearers — with the borrowers,” said an IL&FS spokesperson in response to a query from TOI.
In a series of tweets to his 25 million followers following charges from the US Securities and Exchange Commission earlier this week, Elon Musk accused the regulator of failing to read Tesla's annual reports and said its oversight was "broken".
If you're at the airport and the flight is delayed by 2-6 hours (depending on the travel time), the airline needs to offer you free meals and refreshments. For delays more than six hours for flights scheduled between 8pm and 3am and a delay of over 24 hours for other flights, airlines should inform passengers a day in advance and also offer them free hotel accommodation, the charter said.
Investors are covering their pending short positions on the last trading session of February futures and options (F&O) expiry in the derivatives segment, brokers said. Market is also awaiting GDP numbers and fiscal deficit data scheduled for release later in the day.
A two-member bench of the NCLAT headed by Justice S J Mukhopadhaya has directed the financial creditors of the company, including the State Bank of India, to file their reply on the issue by March 8.
Known as Grab, the startup provides third-party, last-mile logistics services for food delivery companies, online pharmacy and grocery delivery, among others. “Grab has been talking to potential suitors for the last six-seven months. The company had also held talks with Paytm for an acquisition,” said one of the sources mentioned earlier.
Telecom regulator Trai said that it will not recommend any reduction in 5G spectrum reserve prices even as Bharti Airtel said it will not participate in the auction of the airwaves due to excessive pricing. “There is no question at all of making any changes to the prices, which we have recommended for 5G spectrum,” Trai chairman said.
In 2016, Wipro acquired the Workday and Cornerstone OnDemand business as part of its Appirio buyout. The Indian IT firm bought US-based cloud consultancy firm Appirio for $500 million some three years ago.
Jet said in a regulatory filing on Wednesday: “Further to our letter dated February 23, 2019, we now write to inform you that an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements… company is actively engaged with all its aircraft lessors….”
The Air India management held a series of meetings on Tuesday itself to deal with the situation. Delhi’s IGI Airport is the Maharaja’s base from where it operates non-stop Boeing 787 Dreamliners to Europe and B777s to American cities like New York (both JFK and Newark-EWR), Chicago, Washington and San Francisco (SFO).
Jet Airways has sought relaxation in flight duty and rest-hour norms from the regulator DGCA due to the closure of the Pakistani airspace and subsequent rerouting of the west-bound flights amid escalation of tension between the two nations. The dispensation has been sought as these west-bound flights will now have to be operated over the sea.
Central Board of Indirect Taxes and Customs member (Investigation) John Joseph further said the department would soon call a meeting of the representatives of the real estate sector to understand transition issues faced by the sector post reduction in GST rates.
Elon Musk is a visionary and inventive boss but is highly unpredictable, especially on Twitter. On Feb 19, he tweeted that Tesla would make 500,000 cars in 2019 - up from the 400,000 that the company had estimated. Musk corrected himself four hours later, saying that Tesla would indeed produce about 400,000 cars and annualized production rate at end of 2019 around 500k.
Investor sentiment took a beating after Pakistani fighter jets violated Indian air space in Jammu and Kashmir's Poonch and Nowshera sectors, brokers said. After rising nearly 400 points in early trade, the Sensex turned negative triggered by across-the-market selling by participants.
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Air India has decided to reroute its west-bound flights from Delhi. The airline has a number of flights to Europe from Delhi in the afternoon that fly over Pakistan and then enter Afghanistan on their western journey.
The PCA framework is designed to keep a check on the asset quality of weak banks by preventing them from lending until they improve financial parameters like capital adequacy and the ratio of bad loans to total loans.
This is PSA’s third attempt at cracking the Indian market. It first entered India in the mid-90s but was forced to shut shop due to labour unrest. Its second attempt eight years ago had to be shelved due to the economic downturn.
All the four home-grown financial services groups were involved in the Rs 5,600-crore NSEL scam, Sebi orders show. The orders were part of Sebi’s investigations into the scam at the spot exchange, which had come to light in August 2013.
The Airtel chairman is against the general view in the market that older telecom operators are going down due to Jio’s onslaught or may default on statutory and bank payments.
On the BSE index, Sun Pharma, Yes Bank, Bajaj Auto, Mahindra & Mahindra, Asian Paints and Tata Motors were among the major gainers with their stocks rising as much as 2.86 per cent. On NSE, except for Nifty IT, all other sub-indices were trading in green with Nifty Auto and Pharma leading the pack by climbing as much as 1.37 per cent.
The fiscal deficit, or the gap between the government's expenditure and revenue, stood at Rs 7.70 lakh crore during April-January of the current financial year ending March. The government had budgeted to cut the fiscal deficit to 3.3 per cent of GDP or Rs 6.24 lakh crore in 2018-19, from 3.53 per cent in the previous financial year.
That would be a bigger deficit than those of its larger rivals Bharti Airtel Ltd and Vodafone Idea Ltd, even though the company known as Jio will probably overcome them over the next 12 months in terms of service revenue and subscribers, the analysts wrote in a note to clients dated February 26. The fiscal year of Jio’s parent, Reliance Industries Ltd ends March 31.
Social media giant Twitter Tuesday said it is working "collaboratively" with the Election Commission of India and is taking a number of steps, including setting up a cross-functional team, to ensure integrity and transparency on its platform ahead of general elections.
"Indian indices traded lower mainly due to two factors – first, the indications of weakness from all major Asian markets since their opening; and second, the strike carried out by the Indian Air Force against terrorist camps located inside Pakistan," said Joseph Thomas, Head Research, Emkay Wealth Management.
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The median forecast from more than 55 economists polled on February 19-25 was for growth of 6.9 per cent, compared with 7.1 per cent in July-September.
Nooyi, who stepped down as CEO of Pepsico in October last year, is the second women of colour to be added on the Amazon's board of directors. Early this month, Starbucks executive Rosalind Brewer joined the Amazon board. Early this month, Starbucks executive Rosalind Brewer joined the Amazon board. Nooyi would be a member of the audit committee.
The proposed norms will apply to whole-time directors, chief executives and `material risk takers. It will also apply to staff with control functions. Some of the main changes proposed by RBI include requiring a large part of the compensation to be in the form of variable pay, which is a term used for performance linked salaries or bonuses.
“I think we only ask for a level-playing field in terms of regulation. I think it’s fair to say that for the last two years, we have had many regulatory outcomes that have worked against everyone in the market except (Reliance) Jio. We have made these points clear even earlier,” Vodafone global CEO Nick Read said when asked by TOI on whether there has been a ‘regulatory arbitrage’ in favour of the new entrant.
Last week, a section of pilots had reportedly warned the airline of non-cooperation from March 1 if the management did not give a clarity on salary payment by February 25. The Naresh Goyal-founded carrier has 1,600 pilots, of which over 1,100 are unionised and represented by the NAG.
The reversal from strong numbers in Modi's initial years in charge may indicate that investors are being deterred by the government's recent protectionist policies and uncertainty about this year's general election result.
Without taking into account finance costs, which was a derivative expense on account of the down-round fund-raise by the company in mid-2017, losses increased by 75% to Rs 5,964 crore. Finance costs — mostly under “fair value loss on derivative financial instruments” — increased nearly tenfold to Rs 40,937 crore in FY18 from Rs 4,309 crore in FY17.
Yes Bank, Hero MotorCorp, ICICI Bank, SBI, Tata Steel and Sun Pharma were among the major losers on BSE with their stocks sliding as much as 2.55 per cent. Out of 30, just four stocks were trading in green on the 30-share BSE index. On NSE, all sub-indices were in red with Nifty Realty and PSU Bank dipping the most, down as much as 3.07 per cent.
Abu Dhabi-based Etihad has for the first time officially acknowledged it is working for restructuring of Jet Airways to ensure the airline avoids a Kingfisher-like fate. Jet chairman Naresh Goyal and Etihad CEO Tony Douglas on Monday issued a joint statement, saying the airline’s restructuring is on and that the process will soon be completed.
Commenting on the development, Fortis Healthcare Ltd chairman Ravi Rajagopal said: "Once Sebi order was received in Oct 2018, then the revised version in Dec 2018, we began legal proceedings to recover the money as per the directive in the order. All the nine parties/noticees were sent notices from FHL."
On Monday, oil prices edged up amid political uncertainty and sanctions and involuntary curbs on several producers but could face pressure from continued anxiety over the global economy and record US exports. Opec members and non-Opec producers such as Russia are leading efforts to rebalance the market and support oil prices.
A Vistara spokesperson said: "We confirm that our flight UK 733 operating Chennai-Kolkata (Monday) experienced a technical malfunction in the right engine during descent. The pilots carried out the necessary procedures and proceeded to land safely at Kolkata International Airport."
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On BSE, Tata Consultancy Services, Infosys, Yes Bank, IndusInd Bank, HCL Tech, Bharti Airtel and HDFC Bank were among the major gainers with their stocks rising as much as 3.25 per cent. On the NSE index, sub-indices Nifty IT, Private Bank and Auto surged the most, moved as much as 2.03 per cent higher.Indian markets surged on Tuesday, with the Sensex closing above 80,000 points, fueled by a global rally following Donald Trump's victory...
