On Friday (July 16), a consortium of banks led by the State Bank of India (SBI) recovered ₹792.11 crores from fugitives and wilful defaulters such as Vijay Mallya, Nirav Modi, and Mehul Choksi. As per reports, the banks sold the shares of the three businessmen that were handed to them by the Enforcement Directorate (ED). The central … Read more
Adani Logistics Ltd has decided to shut its inland container depot (ICD) at Kilaraipur in Ludhiana after it remained blocked by farmer protesters for seven months. The company took the decision after the Punjab government failed to remove the blockade despite a high court order. This decision has meant that around 400 people will lose their jobs, … Read more
As per the IHS’s recently released monthly Survey, India’s manufacturing sector witnessed the strongest growth in the manufacturing sector in July in the last three months. Asserting the strongest growth rate, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose from 48.1 in June to 55.3 in July. It is imperative to note that … Read more
One of the worst legacies of the UPA government carried forward by the Modi government, the provision for Retrospective Tax, is finally set to be buried. The union finance ministry on Thursday informed the Lok Sabha that it is bringing an amendment to the Income Tax Act, 1961 to this effect. The move comes even as the … Read more
The state of Karnataka has attracted Foreign Direct Investments (FDIs) worth Rs 62,085 crore in the first quarter of FY 2022 which is 48% of the total such investments India received during this period. When India was battling to control the second wave of Covid 19, Karnataka has managed to attract huge foreign investments, hinting at the … Read more
Ford India, the Indian arm of American auto major, today announced that it is ending the manufacturing of vehicles in the country. The company has decided to shut down its car assembly plants in Sanand in Gujarat and Chennai in Tamil Nadu, after suffering continuous losses for several years. The company will however keep the engine plant in Sanand running … Read more
PepsiCo India has chosen Uttar Pradesh to set up its largest greenfield foods plant to manufacture potato chips. UP CM Yogi Adityanath on Wednesday (September 15) inaugurated the leading global food and beverage company’s largest greenfield foods plant worth Rs 814 crore in Kosi Kalan in Mathura. It may be noted that the company had taken an exit route … Read more
Yesterday the union cabinet approved the setting up of the National Asset Reconstruction Company (NARCL) with the objecting of cleaning the banking sector of bad loans. This institution has been dubbed as ‘Bad Bank’, because it will take over bad debt of nearly Rs 2 lakh crore from banks, cleaning the books of the banks. This is … Read more
NDTV shares on Monday zoomed to hit its upper circuit of 10 per cent after rumours started doing rounds that Adani Group is going to buy the company. As of 1:19 PM on September 20, the share price of NDTV was hovering around Rs 79.85, up by Rs 7.25 or 9.99 per cent today, which … Read more
The BSE Sensex on Friday touched an important milestone, breaching the 60,000-mark for the first time ever as the 30-stock benchmark index continues to rally on the back of expanding Covid-19 vaccination coverage, eased restrictions on business activity and the government’s measures to boost the economy. Besides, NIFTY, another benchmark Indian stock market index that represents the weighted average of … Read more