One of the highlights of the discussions at the StartUp20 Engagement Group meeting underway in Goa is to find ways to get investment of USD one trillion in the start up eco system globally by 2030, a top official said on Saturday. USD one trillion, which is 1 per cent of the world’s GDP, is […]
While the satellite industry has unanimously demanded spectrum allocation through administrative methods, major telecom firms Reliance Jio, Vodafone Idea, and Bharti Airtel offered divergent views to sector regulator Trai. The comments on a consultation paper on spectrum assignment for space-based communication by the Telecom Regulatory Authority of India were made public on Friday. Reliance Jio […]
Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to […]
Aditya Birla Group is set to pump in Rs 1,250 crore into its financial services arm Aditya Birla Capital Ltd.The board of Aditya Birla Capital Ltd (ABCL), which is into lending, asset management and insurance, on Thursday approved a preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, according to a […]
Apple Inc supplier Foxconn will start manufacturing iPhones in the southern Indian state of Karnataka by April 2024, the state government said on Thursday.The land for the factory would be handed over to Foxconn by July 1, the government said, adding that the project, valued at 130 billion rupees ($1.59 billion), is expected to create […]
Reliance Capital, a part of debt-ridden Anil Ambani-promoted Reliance Group on Saturday said its consolidated net loss narrowed to Rs 1,488 crore in the fourth quarter ended March 2023.The company posted a net loss of Rs 4,249 crore in the January-March quarter of the last fiscal.Its total consolidated income declined to Rs 4,436 crore in […]
State-owned construction firm NBCC Ltd on Monday reported a more than two-fold jump in its consolidated net profit at Rs 113.63 crore for the fourth quarter ended March 2023.Its net profit stood at Rs 41.10 crore in the year-ago period.The total income rose to Rs 2,843.09 crore in the fourth quarter of the last fiscal […]
Indian Railway Catering and Tourism Corporation (IRCTC) on Monday posted a fiscal fourth quarter profit at Rs 278.80 crore, up 30.4 per cent in comparison to Rs 213.78 crore in the corresponding quarter of previous year. It posted revenue from operations at Rs 965.02 crore, up 39.7 per cent as against Rs 690.96 crore in […]
Power trading solution provider PTC India Ltd on Saturday posted a 17.67 per cent fall in its consolidated net profit at Rs 129.34 crore during the March quarter, dragged by higher expenses.Its net profit was Rs 157.11 crore during the January-March quarter of FY22, the company said in a regulatory filing. The company’s total income, […]
India’s state-owned Bharat Heavy Electricals Ltd reported a 34.2% fall in quarterly profit on Friday, hurt by a rise in total expenses despite the surging power demand in the country. Standalone net profit fell to 5.98 billion Indian rupees ($72.4 million) for the fourth quarter ended Mar. 31, from 9.09 billion rupees a year earlier, […]