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L&T Tech Services shares zoom over 17 pc after Q1 earnings
15 Jul

L&T Tech Services shares zoom over 17 pc after Q1 earnings

editor0 CommentsBusiness, India,
Shares of L&T Technology Services (LTTS) on Thursday zoomed over 17 per cent after the company reported a massive jump in its June quarter net. At 1.54 pm, LTTS stock zoomed 17.72 per cent to Rs 3,426, with its 52-week high of 3447.35 at the BSE. L&T Technology Services on Wednesday reported an 84 per cent jump in its June quarter net at Rs 216.2 crore, largely on widening margins. The company, the engineering and research and development services arm of the infra major L&T, had posted a net profit of Rs 117.2 crore in the year-ago period. Its overall…
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Adani Group in-charge of management Mumbai Int’l Airport after clearance from CIDCO, GoM
14 Jul

Adani Group in-charge of management Mumbai Int’l Airport after clearance from CIDCO, GoM

editor0 CommentsBusiness, India
The Adani Airport Holdings Ltd (AAHL) has taken over the management control of Mumbai International Airport Limited (MIAL), India’s second busiest airport by both passenger and cargo traffic, from the GVK Group following a board meeting of MIAL held on Tuesday, as per a statement issued by its parent company Adani Enterprises Limited. This new move is in line with approvals were received from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra. MIAL is India’s second busiest airport both in terms of passenger and cargo traffic. With eight airports under…
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No fuel price hike for 2nd day in a row
14 Jul

No fuel price hike for 2nd day in a row

editor0 CommentsBusiness, India,
The oil marketing companies kept the retail price of petrol and diesel unchanged on Wednesday, the second consecutive day of no change, to analyse the global oil price movement before making further revisions. After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts and demand concerns over rising Covid cases in several European countries. With price pause on Wednesday, petrol continues to be priced at Rs 101.19 a litre and diesel at 89.72 a litre in the national capital. On Monday, oil companies had raised the…
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Power demand in India expected to grow 6 pc in FY22: Icra
13 Jul

Power demand in India expected to grow 6 pc in FY22: Icra

editor0 CommentsBusiness, India,
Demand for electricity in India is expected to grow 6 per cent in 2021-22 as compared to the previous fiscal year, rating agency Icra said on Tuesday. It has also estimated power generation capacity addition at 17- 18 GW for the ongoing fiscal year. “ICRA Ratings has estimated the all India electricity demand growth at 6.0 per cent for FY2022 on a year-on-year (YoY) basis, considering the favourable base effect, relatively lesser impact of the second wave on electricity demand and the pick-up in the vaccination programme,” an Icra statement said. The electricity demand slowed down during the first two…
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Reliance Industries invests into 10,000 equity shares of RNESL
13 Jul

Reliance Industries invests into 10,000 equity shares of RNESL

editor0 CommentsBusiness, India,
Reliance Industries Ltd said on Monday that it has invested Rs 1 lakh in cash in 10,000 equity shares of its newly incorporated subsidiary Reliance New Energy Solar Ltd (RNESL). RIL noted that RNESL is yet to commence its business operations. RNESL has been incorporated to undertake activities relating to solar energy, the company said in a regulatory filing. “It is hereby informed that the company has invested Rs 1,00,000 in cash in 10,000 equity shares of Rs 10 each of ‘Reliance New Energy Solar Ltd’ (RNESL), a newly incorporated wholly-owned subsidiary,” it said. The filing added that the investment…
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Banks move NCLT to invoke personal guarantee of promoters
13 Jul

Banks move NCLT to invoke personal guarantee of promoters

editor0 CommentsBusiness, India
Several banks have started moving the National Company Law Tribunal (NCLT) to invoke the personal guarantees given by promoters of defaulting companies. According to banking sources, leading banks, including State Bank of India (SBI), Bank of Baroda (BOB), and Union Bank of India (UBI) have approached different benches of NCLT to invoke the personal guarantee of 17 big defaulters including Atul Punj of Punj Lloyd (Rs 3,000 crore), Sanjay Singal of Bhushan Power and Steel (Rs 47,150 crore), and Wadhawans of DHFL (Rs 79,000 crore). Sources says that banks have decided that for invoking the personal guarantees, only the lead…
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Laptop Bazar celebrates Silver Jubilee
12 Jul

Laptop Bazar celebrates Silver Jubilee

editor0 CommentsBusiness,
The Silver Jubilee of Laptop Bazar situated at Siliguri Panitanki More was celebrated today.Pankaj Dutta, director of Laptop Bazar, said that they have been providing services to the people of Siliguri for the last 25 years. This Silver jubilee, discounts starting from Rs 5,000 up to Rs 10,000 are being given for buying laptops. There are also cashback offers and special discounts on installments.
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Facebook must take responsibility for content on its platform: SC
09 Jul

Facebook must take responsibility for content on its platform: SC

editor0 CommentsTechnology, Business,
The Supreme Court on Thursday upheld the Delhi Assembly's right to summon and compel entities like Facebook to appear before its committees on grounds of its privilege. Hearing a plea filed by Facebook India's MD Ajit Mohan challenging the Delhi Assembly's summon to appear before it in connection with the 2020 Delhi riots, the Supreme Court held that digital platforms like Facebook have become power centres that have the ability to influence opinions. The court said they thus will have to remain accountable. While dealing with the controversy over the Delhi Assembly committee summoning Facebook Vice-President Ajit Mohan for spread…
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Mahindra presents Supro Profit Truck range
09 Jul

Mahindra presents Supro Profit Truck range

editor0 CommentsBusiness,
Mahindra & Mahindra Limited (one of the leading automobile companies in India and the world’s largest tractor company by volume) launched its new range of Supro Profit Trucks. This new range of cargo mover is affordable, more powerful, boasts of a greater payload capacity and higher mileage that assures higher profit to the customers. Developed on the successful Supro platform and built at Mahindra’s state-of-the-art plant in Chakan, Maharashtra, the Supro platform has undergone rigorous and full test cycle runs and has been validated on all performance, safety and reliability parameters. Mahidra & Mahindra’s Supro Profit Trucks come with very…
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Amazon launches its first Digital Kendra in India
09 Jul

Amazon launches its first Digital Kendra in India

editor0 CommentsBusiness, , ,
Chief Minister of Gujarat, Shri Vijay Rupani inaugurated the first Amazon Digital Kendra in a virtual event along with Amit Agarwal, Senior VP and Country Head, Amazon India and Manish Tiwary, VP, Amazon India. Amazon India launched its first Digital Kendra in India in Surat, Gujarat. Amazon Digital Kendras are resource centers that will provide micro small and medium enterprises (MSMEs) the opportunity to learn about benefits of eCommerce and avail a range of third party services such as shipping and logistics support, cataloging assistance, digital marketing services, GST and taxation support to kick start their journey towards being digital…
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