Credit rating agency ICRA Ltd downgraded Fortis Healthcare’s outstanding debt obligations of Rs 1,170 cr after the company missed the repayment of a loan. The company’s long term rating for Rs 250 crore non-convertible debenture programme, Rs 105 crore fund-based limits, and Rs 195 crore term loans has been revised from BBB- to C. It […]
Vedanta, one of the world’s largest metal producers, said its application for renewal of consent for operating its smelter plant in Thoothukudi in Tamil Nadu has been rejected. The company had shut down the copper smelting plant on March 27 “as part of a regular maintenance program,” it said. “..the Company had applied for renewal […]
The Goods and Services Tax Council is planning to take up a proposal to give a discount in the tax imposed on a transaction, if the payment for the same is made in electronic mode, the government said. “An agenda note, proposing certain concession in GST rate on supplies made to end consumers, for which […]
With the launch of Reliance Jio’s home broadband services drawing nearer, competitor Bharti Airtel has introduced new fiber-based broadband plans with speeds of up to 300 Mbps. The FTIH (Fiber-To-the-Home) based plan comes at a monthly rental of Rs. 2199 and offers 1200GB of ultra-high speed data along with unlimited STD and local calling benefits. […]
The Supreme Court today asked the government why it was dragging its heels on the implementation of the court’s order on the sharing of the Cauvery river water. The court asked the center to file a draft sharing plan by May 3. The court’s sharp comments come in the context of it missing the March […]
Anil Ambani Group’s construction and infrastructure arm Reliance Infrastructure said it received an order of Rs 1,081 crore for the construction of a “Common Services System, Structure & Components (SSC) package” and allied civil works for the upcoming Unit 3 and 4 of Kudankulam Nuclear Power Project at Tirunelveli District in Tamil Nadu. SSC’s are […]
UK’s largest automaker and a unit of Tata Motors, Jaguar Land Rover, reported a 7.8% dip in its March retail sales due to weakness in its home market. Much of the damage came from Jaguar sales, which were down 12.7% at 24,300, while Land Rover sales declined by 5.7% to 59,432. “UK industry sales were […]
Bank of Baroda, India’s second biggest bank by assets, raised its lending interest rate by 10 basis points across all tenures up to one year. With this, the one-year marginal cost of funds based lending rates or MCLR has been raised to 8.4% from 8.3% with effect from tomorrow, Apr 7. The six-month rate has […]
Bollywood’s second biggest star Salman Khan has been handed a prison term of five years by the court of Chief Judicial Magistrate of Jodhpur in the black buck killing case after a 20-year trial. The sentence implies that Salman Khan is most likely to spend at least one day in jail, before he applies for […]
Construction major Larsen & Toubro said its Hydrocarbon Engineering unit, along with its partner, won an order to supply three Gas Production Deck Modules from Saudi Aramco, one of the world’s largest oil companies. “This is the fourth award for the consortium of L&T Hydrocarbon Engineering (LTHE) with Subsea 7,” the Indian company said. The […]
Salman Khan has been convicted of killing a black buck, a protected animal, while out on a ‘hunt’ 20 years ago during the shooting of “Hum Saath Saath Hain”. UPDATE: Media has reported that the actor has been given 2 years of imprisonment, but there’s no confirmation yet. UPDATE 2: The final quantum of punishment […]
Construction company Capacit’e Infraprojects said it won two orders from Mumbai-based Oberoi Realty Group for a total of Rs 365 cr. The first is for the construction of a residential “rehab and sale tower” at Tardeo in South Mumbai. The order was obtained from group entity Shri Siddhi Avenues LLP and is worth Rs 145.50 […]
Royal Enfield, which makes the iconic ‘Bullet’ retro motorbikes in India, said it will invest Rs 800 cr this financial year to create the second phase of its factory at its Vallam Vadagal site near Chennai. The company, whose products cost upwards of Rs 1.15 lakh, has seen sales of its motorbikes rise rapidly in […]
WhatsApp, the biggest interpersonal text-messaging platform in India, has started rolling out its ‘verified accounts’ feature with IndusInd Bank as one of its first customers. For now, verified accounts are limited to businesses, and will be used to assure customers that they are communicating with the official, and authorized, phone number of a business or […]
Faced with severe criticism from the media and the opposition, the Prime Minister’s office has directed the Information & Broadcasting ministry to withdraw the ‘fake news’ directive. The ministry had, last evening, issued a statement that envisaged provisions to punish journalists who reported ‘fake news’. According to the press release issued yesterday, action — including […]
Hero MotoCorp said it sold 7.3 lakh motorcycles in March 2017, marking the highest number of monthly sales in its history. The strong performance also helped Hero MotoCorp make another record for the highest ever number of motorcycles sold in a year. The company sold 7.59 million (76 lakh) motorcycles and scooters in a financial […]
Chief Justice of India Deepak Misra refused to hear a petition filed by a Dalit activists’ organization seeking urgent relief from the a recent judgment by another bench that imposed restrictions on the powers of the police in cases filed under the SC ST Prevention of Atrocities Act. “If you have filed a petition, it […]
Finance Minister Arun Jaitley is unlikely to withdraw the defamation case filed against Aam Aadmi Party Supremo Arvind Kejriwal, according to sources. Instead, the legal team of Arun Jaitley, himself a lawyer, will mention the matter before the Chief Justice of the Delhi High Court today. Jaitley wants a legal settlement in which the allegations […]
Heavy equipment maker Bharat Heavy Electricals Limited said it won a Rs 4,400 cr order from the UP state electricity generation company to set up a 660 MW thermal power plant near Kanpur. The order has been placed on BHEL by Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL). Located at Panki in Kanpur district […]
Reliance Infrastructure said it has won a Rs 441 cr contract to create a new tunnel and 7 km of road on the Mumbai-Goa road, also known as NH-66. It will create a three by three lane twin tunnels of total length 3.44 km and highway with paved shoulders and viaducts for 7.2 Km. The […]
