The government of India is exploring ways to ban the advertising of junk foods and soft drinks on television channels targeted at children, junior minister for information and technology Rajyavardhan Rathore told the parliament today. Rathore said intimations in this regard will be sent to television channels soon, and the idea was to discourage children […]
Housing Development Finance Corporation Ltd has tied up with Bangalore-based real estate player Prestige Estates to invest Rs 2,500 cr in affordable housing. The tie-up has been implemented through its subsidiary HDFC Capital Advisors Limited, which is the investment manager to HDFC Capital Affordable Real Estate Fund 1. The fund, which focuses on middle income […]
The government has reduced the Goods and Services Tax on amusements parks and events such as circus, pageants, drama, functions and concerts. While the GST rate on amusements parks has been reduced to 18% from 28%, all ticket sales of up to Rs 500 each for events has been made GST free. The new rate […]
The government has cut the GST rate of ‘affordable houses’ covered by the ‘Credit Linked Subsidy Scheme’ to an effective rate of 8% from an effective rate of 12%, and also said that most customers should not have to pay any GST on such flats at all. The reduction in GST has been made to […]
SpiceJet reported a 32% increase in its net profit to Rs 239.99 crore for the three months ended December from Rs 181.14 crore in the same quarter last year. The airline’s capacity grew by 14% during the same period. SpiceJet reported an operating revenue of Rs 2,081.95 crore in the quarter, up 27% on year. […]
Hero MotoCorp, India’s largest two-wheeler maker unveiled what it called India’s first adventure bike in the 200cc class, the XPulse, as well as 125cc variants of its Maestro scooters. The XPulse is Hero’s second offering in the premium motorcycle segment after the Xtreme 200R that was unveiled just a week ago. The new scooter range […]
Hero Moto Corp Ltd reported modest improvements in its top and bottom lines, with revenue rising by 5.9% and net profit up 4.3%. The company able to keep costs under control, but a dip in non-operating income prevented the gains from trickling through to the bottom line. Against an increase of 5.9% in net sales, […]
JSW Energy Ltd reported a sharp decline in its profit on a sequential basis due to a steep increase in fuel costs, but the company’s numbers were an improvement on a year-on-year basis. The company’s profit before tax fell to just Rs 70 cr from Rs 417 cr in the preceding quarter due to lower […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
Uttar Pradesh has emerged as the most aggressive state in terms of targeting traditional schools known as madrasas for upgradation. In the last two years, the state has sought to upgrade 10,854 madrasas under the Center’s ‘Quality Education in Madarsas’ scheme. This is more than 70% of the total proposals submitted by all states under the […]
The number of people appearing for the Joint Entrance Exam for admission to centrally funded engineering colleges continues to fall, with the latest numbers showing a year-on-year decline of 3.3%. JEE 2018 saw only 11.35 lakh students appear for the exam, compared to the 11.86 lakh that appeared for JEE 2017. The Joint Entrance Exam […]
The Central Board of Secondary Education, the country’s largest national-level school certification body, is tweaking its rules of affiliation, the government said. “Although no financial and organizational lacunae have been observed, still, considering the future needs, the Board is considering to revamp the affiliation byelaws,” Prakash Javadekar, union minister for human resources development, said. The […]
The Supreme Court today sent notices to relevant parties on cricketer Sreeshant’s plea to lift a lifetime ban on him imposed by the Mumbai-based Board of Control for Cricket in India. This is the third hearing on the matter. In August last year, a single judge bench of the Kerala High Court lifted the ban […]
Union Bank of India, one of India’s largest state-controlled banks, reported a deterioration in its loan book quality and wider losses for the October-December quarter. The bank posted net loss for Rs 1,250 crore for the quarter, compared to net profit of Rs 104 cr for the same quarter last year. Higher provisions to deal […]
Tata Steel said it has completed the acquisition of a 135 MW power plant from a subsidiary of Jasper Industries for Rs 255 paid in cash. The thermal power plant, located in Cuttack district in Odisha, will help it increase its captive source of power to meet its growing demand, it said. The acquired company […]
Hero MotoCorp reported strong auto sales numbers for January. Total two-wheeler sales rose 31% to 6.41 lakh during the month, taking the total for the financial year over the 6 mln mark with two months remaining. The performance is comparable to those of the others in the industry. Bajaj Auto, for example, reported a 36% […]
Info Edge India, which runs websites like jeevansathi.com and naukri.com, reported a 22% year-on-year increase in revenue and but the top line remained flattish on a sequential basis. Margins suffered due to higher advertising costs. Total billing during the third quarter increased 19% on year to Rs 228.3 cr, the company said. Net sales rose […]
Godrej Properties reported a sharp 66% fall in its net profit for the third quarter despite strong sales growth, as it was hit by a sharp increase in its input costs. Net profit fell to Rs 25.94 cr for the three months ended December from Rs 77.24 in the same period last year. In Q2, […]
PC Jewellers, the Delhi-based jewelry retailer, denied that there was any reason for the halving of its share price as was seen today. It issued a statement after the company’s shares fell from around Rs 500 to Rs 217 in trading today, reportedly over worries that the company may be linked with Vakrangee, another firm […]
Government of India-controlled Cochin Shipyard Limited said it signed an agreement with Russia’s largest shipbuilding company to jointly design and manufacture inland and coastal ships in India to enable the government’s Sagar Mala program. Sagar Mala is a ₹8 lakh cr investment initiative of the Government of India to promote the use of water ways […]
