Industry

Axis Bank raises Rs10,000 crore through share sale

Livemint August 11,2020

The deal, Axis Bank said, was oversubscribed with the aggregate final transaction size being Rs10,000 crore.The fund-raise is expected to bolster the bank’s capital position amid the covid-19 crisis...

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Dubai businesses return to growth but not so good news on jobs front

Livemint August 11,2020

Businesses in Dubai are benefiting from the lifting of lockdown restrictions, with foreign visitors allowed to enter the Middle East’s commercial hub from July 7.The United Arab Emirates, of which D...

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Retailers go mobile, take stores to customers’ doorsteps

Livemint August 11,2020

Retailer Landmark is piloting both concepts for its Lifestyle and Max retail formats.Retailers, especially those selling apparel and accessories, have seen a slump in business, first because of the lo...

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Patanjali Ayurved to bid for IPL 2020 title sponsorship

Livemint August 11,2020

BCCI is expected to offer a 20-30% discount on the deal pegged at ₹440 cr owing to tough market conditions

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Banks  in  a  spot as most bad loans out of recast ambit

Livemint August 11,2020

While the central bank has allowed a one-time debt recast for SMA-0 accounts—those with payments late up to 30 days—SMA-1 (31-60 days’ delay) and SMA-2 (61-90 days) are not covered.The central b...

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Cipla shifts remdesivir production to Goa plant

Livemint August 11,2020

Cipla CFO Kedar Upadhye says that he expects the supply gap to narrow considerably as more Indian companies launch the licensed generic version of remdesivir

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E-tail hits it big with small-town shoppers

Livemint August 11,2020

Flipkart-owned fashion e-tailer Myntra’s ‘End of Reason Sale’ in June-end, the first big e-commerce sale of the year, drew over 3.5 million customers.Demand in India’s smaller towns and cities...

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Union objects to Kamath on debt recast committee

Livemint August 11,2020

The bank workers’ body cited his alleged involvement in the Chanda Kocchar case.On Friday, RBI had announced the constitution of an expert committee under Kamath to suggest financial parameters for ...

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Kotak Bank 'achieves compliance' with promoter stake reduction requirement

Livemint August 10,2020

The bank was required to bring down the promoter's shareholding to 26%

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ICICI Bank launches $2 billion share sale

Livemint August 10,2020

The bank said it has fixed a floor price of ₹351.36 apiece for the so-called qualified institutional placement (QIP) offering.Investment banks Bank of America, Morgan Stanley, BNP Paribas, ICICI Se...

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Govt must form plan to recover AGR dues from bankrupt telcos, says SC

Livemint August 10,2020

The apex court observed that recovery of dues may not be possible from telcos undergoing insolvency, while asking the government to explain whether spectrum can be sold under the Insolvency and Bankru...

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Baba Ramdev's Patanjali considering bidding for IPL title sponsorship

Livemint August 10,2020

The title sponsorship is a significant part of the IPL's commercial revenue, half of which is shared equally by the franchises.The slot of the title sponsorship of IPL was vacated after the Chinese ha...

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'Aur Le Panga': Abhishek Bachchan shares quirky artwork defeating Covid-19

Livemint August 10,2020

'Le Panga' is the catchline of the Kabaddi team owned by the Junior Bachchan.The poster shows the virus lying down defeated on the ground

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Bharti Airtel launches ‘Ultra-Fast 4G’ services in Andamans

Livemint August 10,2020

Prime Minister Narendra Modi today launched the undersea cable project that will connect Chennai and Andaman and Nicobar Islands and boost 4G services on the islands.

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PM Modi launches submarine cable project to boost 4G services in Andamans

Livemint August 10,2020

Modi said, besides enhancing national security, the project will improve internet connectivity in the islands, enabling its citizens to use net banking, e-commerce, online education and telemedicine f...

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Hinduja Leyland Finance in talks to raise $100 million

Livemint August 10,2020

The fundraise will see the financer divest anywhere between 15% and 20% stake.HLFL plans to come out with an initial public offering (IPO) in the near to medium term

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Chinese brands hold back spending on ads

Livemint August 10,2020

Smartphones are the hottest category with investments of ₹2,500-2,700 crore annually.The advertising go-slow comes after smartphone brand Vivo’s exit from IPL 2020 as the tournament’s title spo...

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Phonemakers in India build capacity  to  tap global orders

Livemint August 10,2020

Lava plans to produce as many as 100 million smartphones annually in the next few years.Smartphone makers have already begun investing in expanding capacities and their manufacturing capabilities to m...

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Verdict on staggered AGR payments awaited as SC to hear bankrupt telcos

Livemint August 09,2020

In its last hearing on 20 July, the apex court had directed the Department of Telecommunications (DoT) to submit details of the insolvency proceedings of the bankrupt telcos before the next hearing

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10 central trade unions observe day long protest seeking jobs, job protection across states

Livemint August 09,2020

Ten central unions affiliated to several political parties except the ruling BJP, said the protest was conducted in almost 100,000 places across the country and claimed 10 million workers participated...

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The repo rate cut cycles help PSBs shore up capital

Livemint August 09,2020

The RBI on Thursday decided to keep the repo rate or the interest rate at which it lends to banks, at 4%. In his new book, former RBI deputy governor Viral Acharya explains why the government loves th...

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'TRAI to give decision on priority plans within 2 weeks of telcos reply'

Livemint August 09,2020

TRAI expects to finalise its decision on priority plans of Vodafone Idea and Airtel within two weeks of getting detailed responses on its queries from the two telcos

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68K cr of loans released under discoms liquidity package

Livemint August 09,2020

Finance Minister Nirmala Sitharaman in May announced the ₹90,000 crore liquidity infusion into cash-strapped discoms, facing demand slump due to the lockdown to contain COVID-19

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Coal import falls 43% in July owing to high stockpile at pitheads, plant

Livemint August 09,2020

India's coal import fell 43.2% to 11.13 million tonnes (MT) in July this year on account of high stockpile of the dry fuel at pitheads, plants and ports. The country had imported 19.61 MT of coal in J...

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Goa taking steps to make agri sector self-reliant: CM Pramod Sawant

Livemint August 09,2020

Pramod Sawant said the state government had started a special drive to offer Pradhan Mantri Kisan Credit Card to 30,000 farmers in Goa, which will enable them to get collateral-free, interest-free cre...

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Expert committee on COVID-19 vaccine administration to meet on Wednesday

Economic Times August 11,2020

The phase-1 human clinical trials of the two COVID-19 vaccine candidates, developed indigenously by Bharat Biotech in collaboration with the Indian Council of Medical Research and Zydus Cadila Ltd, ha...

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Fuel hacks by Indian farmers among multiple threats to diesel as fuel price continue to rise

Economic Times August 11,2020

While no one is predicting the imminent demise of diesel in India, LPG is one of several energy sources that look set to chip away at the dominance of the fuel that accounts for around 40% of the coun...

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No basic customs duty relief to SEZ solar manufacturing units yet; govt mulling equalisation levy

Economic Times August 11,2020

While setting up their plants, SEZ units were allowed a one-time exemption on import duty on capital goods required to manufacture solar gear. They also enjoyed a rebate on the duty levied on electric...

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Smooth Sale-ing for Chinese brands, clock double-digit sales growth during Amazon, Flipkart events

Economic Times August 11,2020

Industry executives said several products of prominent Chinese brands have stocks running out, including offline. Brick-and-mortar retailers and said it had been business as usual as far as Chinese br...

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SC questions spectrum sale by ailing telcos, asks govt how it plans to recover AGR dues

Economic Times August 11,2020

​​The observations that came Monday could potentially impact the resolution plans of the two telcos. The insolvency court has already approved the sale of Aircel’s assets, and was about to take ...

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Increased demand for groceries lifts household consumption to a two year high in April-June

Economic Times August 10,2020

The fast-moving consumer goods market expanded 4.3% in volume and more than 8.5% by value during the quarter, according to data from Kantar Worldpanel. Kantar's numbers contrast with data from market ...

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Pay charges daily and then operate flights from airports: AAI puts GoAir on 'cash and carry' basis

Economic Times August 10,2020

An airline has to pay various charges -- air navigation, landing, parking etc -- to AAI, which works under the Civil Aviation Ministry, to use facilities at any of its more than 100 airports.

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Edu Port of GMR Hyderabad Airport City teams up with St. Mary’s Society

Economic Times August 10,2020

The new international school will come upon a 15-acre of serviced land at Hyderabad Airport City where the residential academic facility is slated to be unveiled by 2022. GMR Hyderabad Aerotropolis sa...

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IMC Chamber of Commerce and Industry appoints new banking committee members

Economic Times August 10,2020

The committee, aimed at addressing current problems included other bigwigs like Zarine Daruwala CEO Standard Chartered Bank, Amitabh Chaudhry, CEO Axis Bank, NS Kannan of ICICI Prudential Life Insuran...

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Contempt of court petition filed in Delhi High Court against Oyo, founder Ritesh Agarwal

Economic Times August 10,2020

The contempt of court petition filed by hospitality company Anam Datsec will be heard on August 20.

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Kozhikode plane crash: Air India Express hires US-based firm to recover baggage

Economic Times August 10,2020

Angels of Air India is a special team of the airline to assist passengers and their family members at a time of accident. Air India Express is a wholly owned subsidiary of national carrier Air India.

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PESB picks Soma Mondal as the next chairman of Steel Authority of India

Economic Times August 10,2020

Mondal's appointment is subject to approval from the Appointments Committee of the Cabinet (ACC). If the ACC gives its approval, she will make history with the rare distinction of being the first-ever...

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Indian Railways extends train shutdown till September 30, only special trains to run

Economic Times August 10,2020

The Railways' original halt of express, passenger and suburban trains was scheduled to end on August 12​​.​

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75% Indian students find it risky if colleges reopen, 71% feel it’s vital for economy: Study

Economic Times August 10,2020

The survey conducted on behalf of Pearson in May 2020 by The Harris Poll found that only 64% of students think that colleges and universities were prepared for the COVID-19 pandemic in India.

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Zostel bets big on domestic travel, set to open five hundred new properties in two years

Economic Times August 10,2020

Zostel currently has 60 properties which are a mix of hostels and homestays. The company is also raising a Rs 10 crore round from the market.

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India plans Rs 10,000 cr transshipment port at Great Nicobar Island: PM Modi

Economic Times August 10,2020

The dedicated container transshipment terminal at the strategic port locale in the Andaman and Nicobar Islands along the Bay of Bengal coastline offers two geographical advantages -- proximity to the ...

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Spectrum of bankrupt telcos who owe statutory dues cannot be sold: Govt to SC

Economic Times August 10,2020

"Spectrum can never be a subject of sale in IBC proceedings," solicitor general Tushar Mehta told the three-judge SC bench, headed by Justice Arun Mishra. The bench was hearing the adjusted gross reve...

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