FAME II: MoTown welcomes govt’s package to boost electric vehicles

Besides charging stations the government will be setting up seven testing centres across the country for certifying electric vehicles

Weekly Tactical Pick: Garden Reach Shipbuilders Engineers

At the current market price, the stock is offering a dividend yield of close to 5 percent. Besides dividend, GRSE is attractively valued at 10 times its FY19 estimated earnings

Grofers raises $60 million; valuation jumps to $425 million: Report

The latest funding would help Grofers continue its expansion into the fast-moving consumer goods segment.

Ashok Leyland February sales increase 0.4%, MHCV segment reports 3% decline

Light commercial vehicle sales during the month increased sharply by 11 percent to 4,954 units, but medium heavy commercial vehicle sales fell 3 percent to 13,291 units in February YoY.

Nalco declares interim dividend of Rs 4.50 per share

"The board of directors of the company..have approved payment of interim dividend at the rate of Rs 4.50 per share on the paid-up equity share capital of Rs 932.81 crore for the financial year 2018-19," Nalco said in a regulatory filing.

More trouble: Jet Airways, on standalone basis, loses rank 2 to SpiceJet in aviation market

The distressed airline is now ranked fourth, behind IndiGo, SpiceJet and Air India.

Revised FAME scheme puts EV segment in fast lane: MM

The Mumbai-based company, which is at the forefront of electric vehicle (EV) segment in the country, said the scheme puts electric vehicles in the fast lane.

FAME II scheme to see faster adoption of EVs: Tata Motors

Tata Motors on Friday said the FAME II scheme would help faster adoption of electric vehicles (EVs) in the country. While welcoming the initiative, the auto major said the revised scheme brings policy stability in the EV space.

Vistara to start daily flights from Dibrugarh to Bagdogra, Delhi from April 3

The airline said booking is now open and tickets for Bagdogra-Dibrugarh flight as well as Dibrugarh-Bagdogra flight are available at an all-inclusive fare of Rs 2,399.

LT says audit panel to seek external expert#39;s help on alleged Cognizant bribery case

Last month, Cognizant Technology Solutions Corp (CTS) had said it would pay USD 25 million to the US Security and Exchange Commission (SEC) to settle its India bribery charges.

Maruti Suzuki February sales miss estimates, down 0.8% to 1.48 lakh units

Ciaz sales, which comes under mid-size segment, plunged 37 percent while utility vehicle and vans segments sales remained strong, rising 7.4 percent 17.2 percent respectively.

Global investors push Ola#39;s green electric mobility unit

Ola Electric Mobility raised Rs 292 crore from global investors including Tiger Global Management, Matrix Partners and Sarin Family India

Escorts tractor sales up 12% at 7,240 units in February

Domestic tractor sales during last month stood at 6,918 units as against 6,295 units in February 2018, up 9.9 percent, Escorts said in a regulatory filing.

Podcast | NSE Invest O Cast episode 8: Tips to secure your child#39;s future

In this episode, expert Nisreen Mamaji explains how you can plan your investments with your children in mind.

SEBI restrains North End Foods Marketing, RK Commodities, 24 others from trading in securities

SEBI has observed that NEFM, with the help of other entities, acquired an influential beneficiary position in Mentha Oil Contracts through unfair means.

Vedanta says it loses Rs 50 million daily due to smelter shutdown

The government of Tamil Nadu state ordered the smelter shut permanently on May 28 after bloody protests at the plant in the city of Thoothukudi culminated in police opening fire on demonstrators and shooting people in the head and the chest.

Escorts February sales increase 12% to 7,240 units

Export for the month of February at 322 tractors increased 92.8 percent year-on-year.

Bajaj Auto February sales grow 10% driven by exports, beat expectations

Bajaj Auto said total motorcycle sales grew by 10 percent to 3.27 lakh units and 3-wheeler sales increased by 8 percent to 65,104 units in February YoY.

What explains a relatively steady show by the FMCG companies?

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Cabinet clears transfer of Air India#39;s Rs 29,464cr loans, 4 subsidiaries to SPV

The government said the SPV, Air India Asset Holding Company, will hold transferred ‘debt of the national carrier to the tune of Rs 29,464 crore#39;

Hurun Global Rich List 2019: Jeff Bezos takes No 1 spot, Mukesh Ambani enters top 10

Hurun released its Global Rich List for 2019, find out who the world#39;s richest individuals are.

Cabinet approves Aadhaar ordinance, Air India SPV, FAME II scheme

The Cabinet has also approved the setting up of a special purpose vehicle (SPV) for the disinvestment of Air India and its subsidiaries. The government estimates the debt of Air India Ltd to be around Rs 29,464 crore.

China#39;s Fosun to expand Gland Pharma operations in India

Frank Yao, Co-Chairman, Fosun Pharma who was in India, told Moneycontrol that the integration process of Gland Pharma with Fosun is over, and Fosun has plans to expand manufacturing footprint and add more products to the pipeline.

Cabinet okays Vodafone Idea#39;s up to Rs 25,000 cr rights issue

The promoter shareholders Vodafone Group and Aditya Birla Group have told the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, as part of such rights issue.

Motherson Sumi to acquire Bombardier#39;s UK rolling stock electrical biz for 10.87 mn pounds

As per the deal, MRSS will enter into a lease agreement for the part of Bombardier#39;s Derby site currently occupied by the business and will continue to operate the business with its current employees.

Cabinet approves Rs 1,400cr greenfield airport at Rajkot

The greenfield airport is situated in Hirasar district of Gujarat which will be 28 kilometres from Rajkot.

Jet Airways grounds 6 more aircraft over failure to pay up lease dues

Moneycontrol had a day earlier reported that Jet Airways may be forced to ground 42 aircraft in two days. As per a PTI report, the company had grounded as many as 13 planes as of February 27.

Jet Airways grounds 6 more aircraft over failure to pay up lease dues

Moneycontrol had a day earlier reported that Jet Airways may be forced to ground 42 aircraft in two days. As per a PTI report, the company had grounded as many as 13 planes as of February 27.

NCLAT directs NCLT Ahmedabad to take call on ArcelorMittal#39;s Essar Steel bid by March 8

A two-member NCLAT bench, headed by Justice S J Mukhopadhaya, on Thursday observed that hearing was not concluded and final order was yet to be passed.

RBI approves amalgamation of DBS Bank

In a press release, the RBI said the scheme of amalgamation between the two entities has been sanctioned under the provisions of the Banking Regulation Act, 1949.

Notes, coins to have separate space in currency chests now

The committee recommended the steps for relating to standardisation of storage facilities in currency chests.

OnePlus plans up to 5-fold increase in headcount at India RD centre

The research and development centre has an employee strength of 100 at present.

Rise in Mobile Money ensures greater Financial Inclusion: Report

The report also shows that the mobile money industry processed transactions worth US$1.3 Billion per day in 2018.

Jet Airways founder Naresh Goyal agrees to step down as chairman: Sources

Saddled with a billion dollars in debt, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months. Lessors have grounded more than a dozen of its planes pending payment of dues.

Retail attacks and API Traffic Surges to record high: Akamai Report

Hackers target login pages for banks and retailers as many customers use the same login credentials for multiple accounts.

MFs, PMS to be get to play in commodity derivatives soon: Sebi

The regulator, he said, has also allowed alternative investment funds (AIFs) of category III to participate in the commodity space. All contracts will be settled by delivery.

Seqrite launches Cloud Enterprise Mobility Management portfolio

Organisations can avail the benefits of the BYOD approach without compromising their larger security posture.

Accenture launches pre-configured Applied Intelligence Platform

The new platform allows organizations to leverage AI without the need for deep data science expertise.

JJ resumes production of baby talc in India after tests find no asbestos

The regulator and its counterparts in Indian states launched an investigation into JJ#39;s Baby Powder following a Reuters report in December that the firm knew for decades that cancer-causing asbestos could be found in the product.

US economy grew 2.9% in 2018, highest in 13 years

GDP expanded by 2.9 per cent in 2018, up from 2.2 per cent the year before, approaching the target set by President Donald Trump.

Jaypee Infratech#39;s lenders to discuss NBCC, Suraksha takeover bids Friday

A meeting of the Committee of Creditors (CoC) will be held on March 1, said Anuj Jain, the Insolvency Resolution Professional (IRP) of Jaypee Infratech, in a regulatory filing.

RBI, Bank of Japan completes signing of $75 bn currency swap pact

The Bilateral Swap Arrangement (BSA) was negotiated between India and Japan during the visit of Prime Minister Narendra Modi to Tokyo on October 29, 2018.

RBI constitutes task force under Usha Thorat on offshore rupee markets

The Reserve Bank of India (RBI) said it would also recommend measures to address concerns, if any, arising out of offshore rupee trading besides proposing measures to generate incentives for non-residents to access the domestic market.

AkzoNobel targets double digit growth in India; looks to spearhead premium paints

Currently, decorative paints constitutes 60 percent of company’s revenue

Arun Jaitley hopes more banks will exit RBI#39;s PCA framework with govt funding support

The 6 PSBs which remain in the PCA list are United Bank of India, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank.

Xiaomi exploring new products for Indian market

Xiaomi, which competes with players like Samsung, vivo and Oppo in the Indian smartphone market launched its latest device Redmi Note 7 Pro, priced Rs 13,999 onwards.

Kotak Bank lowers lending rate by a marginal 5 bps

Kotak Mahindra Bank cut the MCLR in four tenors, including the important one-year maturity ones to which all the major consumer loans including home loans are linked.

iBank credit grows 14.35%, deposits rises 10.16%

Advances to agriculture and allied activities registered a growth of 7.6 percent in January as against 9.4 percent in the year-ago month.

IIT-Delhi alumni launch AI-led free resume startup

Basic resumes can be created and downloaded for free while niche features are paid

India Inc spends Rs 50,000 crore in CSR in FY15-18: Report

The Companies Act, 2013 makes it mandatory for businesses with Rs 500 crore in annual revenues to set aside 2 percent of their profit for social good or affirmative action.