Govt removes import restrictions on refined palm oil until December

India, the world#39;s largest importer of vegetable oils, buys nearly 15 million tonne annually. Of this, palm oil comprises 9 million tonne and the rest 6 million tonne is soybean and sunflower oil.

SpiceJet posts net loss of Rs 235 crore in Q4 of FY21

The loss incurred by the airline in Q4 of last fiscal has gone up, compared to the quarter ended on December 31, 2020. The airline had posted a net loss of Rs 57 crore in Q3.

Parsvnath Developers posts Rs 109.56 crore loss in March quarter

Total income fell to Rs 272.79 crore in the fourth quarter of last fiscal from Rs 1,060.74 crore in the corresponding period of the previous year, according to a regulatory filing.

Omaxe posts Q4 profit at Rs 1.11 crore; income falls 46% at Rs 192 crore

For the full 2020-21 financial year, Omaxe has clocked a net loss of Rs 233.93 crore as against a net loss of Rs 97.33 crore in the previous year.

74% of hospitality sector companies face negative credit profile, 2nd wave delays recovery: Report

Being one of the high contact sectors, hospitality has been one of the first and worst-hit sectors due to the pandemic, and the second wave has only added to their woes as it has come at a time when the industry was on its path to recovery.

SEBI gives more time to brokers, clearing members to comply with rules

The deadline for maintaining call recordings of orders or instructions received from clients has been extended by one month till July 31, the Securities and Exchange Board of India (SEBI) said in a circular.

JSW Steel to pump over Rs 25,000 crore to ramp up capacity to 37 million tonne

The company, which sold nearly 15 MT of steel in FY21, claimed to have invested Rs 48,000 crore in the past three years for augmenting its production capacity to nearly 28 MT, company officials said.

Crude oil prices near 52-week high ahead of EIA inventory report; WTI trades above $74 a barrel

The black gold has been trading higher than 5, 20, 50, 100 and 200 days#39; simple moving averages and exponential moving averages on a daily chart.

If you have ability to deliver right quality and possess strong ethics, you will be successful: Jai Agarwal of Gyan Dairy

The Face of Vibrant Bharat, Jai Agarwal believes India is steadily moving towards becoming a quality conscious market

Here is what five experts are saying on #39;mix and match#39; of COVID-19 vaccines

There are some studies mostly conducted in Europe that show that if you use Oxford-AstraZeneca vaccine followed by Pfizer-BioNTech vaccine - that there is increase in reactogencity and the antibody response is little higher- which is good, says one of the experts.

Gold prices fall for 4th straight day to Rs 46,753/10 gm, tumbles 4.65% in June; silver flat

The bullion may witness choppy trade but general bias might be weak owing to Fed#39;s tightening expectations.

China’s Didi touts tech spending ahead of Wall St debut

The Beijing-headquartered company operates in 16 countries but almost 90 percent of the 493 million customers who used the service at least once in the past year are in China.

AstraZeneca partners with Docon to digitise 1,000 clinics across India

Under the partnership, Docon will equip the identified clinics with customised Electronic Medical Record (EMR) systems enabling clinicians to access complete patient history, a joint statement said.

Cabinet approves Rs 19,041 crore viability gap funding for BharatNet in 16 states

Telecom Minister Ravi Shankar Prasad said the decision to involve private players was taken after Prime Minister Narendra Modi announced on August 15, 2020 that around 6 lakh villages in the country will be connected with broadband in 1,000 days.

Flipkart opens its first grocery centre in Coimbatore

In the initial stages, only a part of the facility would be utilised for which over 500 people would be hired and this would be the only facility for Flipkart which would almost be entirely run by women constituting 90 percent of the overall workforce.

Explained | Impact of SEBI amendments on norms for Independent Directors

SEBI has revised guidelines for the appointment and removal of independent directors and strengthened their position in the remuneration and audit committees.

RBI ban on new credit cards sale hit market share; will come back with a bang once embargo lifted: HDFC Bank

The bank#39;s head of consumer finance, digital banking and information technology, Parag Rao, said that it has used the last six months to "introspect, re-engineer and innovate" about the cards business, where it has 15.5 million customers.

Natural gas futures rise for sixth day in a row, jumps over 24% in June

The commodity has been trading higher than 5, 20, 50, 100 and 200-days#39; simple moving averages and exponential moving averages on the daily chart.

Second COVID wave derailed hospitality industry recovery: ICRA

Since mid-April, the industry has been affected by the pandemic-related lockdowns/restrictions on mobility by various states and increased wariness to travel due to fear of infection contagion, ICRA said in statement.

Boom times for lawyers as Washington pursues Big Tech

The mounting legal and regulatory scrutiny facing Big Tech has led to a wave of lawsuits, investigations and proposed legislation aimed at ending the dominance of Amazon, Apple, Facebook and Google.

Amul announces pan-India hike in prices of milk by Rs 2 per litre

"Prices of Amul milk will be increased by Rs 2 per litre across India from tomorrow. The new prices will be applicable on all Amul milk brands like Gold, Taaza, Shakti, T-special, as well on cow and buffalo milk," said RS Sodhi, Managing Director, GCMMF, which markets Amul brand of milk and dairy products.

Moneycontrol Pro Panorama | The rise and rise of retail investor

In today’s edition of Moneycontrol Pro Panorama: Moment of truth for market, the FOMO factor, why inflation view has an issue , Repco Home Finance makes a point, a bright spot in logistics, recipe for success for hotel sector, and more

COVID tourism impact could top $4 trillion: UN

The joint report by the UN#39;s World Tourism Organization (UNWTO) and Conference on Trade and Development (UNCTAD) found that the lack of widespread vaccination in developing countries was leading to mounting economic losses.

Cipla says doesn#39;t have definitive pact on commercial supplies of Moderna vaccine

Cipla said it is supporting Moderna with the regulatory approval and importation of vaccines to be donated to India. The government of India has issued a registration certificate and a permission to import the COVID-19 Vaccine Moderna for restricted use in an emergency situation, in adults aged 18 years and older.

Ruchi Soya posts Rs 314 crore profit in Q4; revenue up 51% to Rs 4,859 crore

Total income increased to Rs 16,382.97 crore in the 2020-21 fiscal from Rs 13,175.36 crore in the previous year.

COVID-19 vaccine | Serum Institute applied for marketing approval of Covishield jab in Europe: Sources

The information contrasts with the European Medicines Agency statement on June 29 which clarifies that it hasn#39;t received any request for marketing authorisation of Covishield.

IRCTC#39;s profit after tax declines 23% to Rs 103 crore in March quarter

The company had reported a profit after tax (PAT) from continuing operations of Rs 135.14 crore for the corresponding quarter a year ago, according to a regulatory filing to the BSE.

Google India is country’s most attractive employer brand for 2021; check out others on top 10 list

The Randstad Employer Brand Research 2021 survey shows that technology giant Google India is the most attractive employer brand in the country. Based on the findings from the report, the company scored highest on the top three Employee Value Proposition parameters – financial health, strong reputation, and attractive salary and benefits. As per the reports, in 2021, work-life balance trumps attractive salary and benefits as the most important driver for job seekers in India while choosing an employer. This is followed by a COVID-19- compliant work environment and job security.

Gold prices down for 3rd day to Rs 47,008/10 gm on firm dollar; silver slumps Rs 398

The gold/silver ratio currently stands at 69.32 to 1, which means 69.32 ounces of silver is required to buy an ounce of gold.

What makes mixing and matching of different COVID-19 jabs more effective?

UK study shows that mixed schedules of AstraZeneca and Pfizer jabs, when given at a four-week interval, induced an immune response that is above the AstraZeneca vaccine. Side-effects, such as chills, headaches and muscle pain, were short-lived in volunteers who received a mixed schedule.

Google, Amazon and Microsoft take top spots in Randstad Employer Brand Research

The survey report said that Google India scored high on financial health, strong reputation and attractive salary benefits.

Sun Pharma, Cipla and others partner to conduct trials of COVID-19 antiviral drug Molnupiravir

As per the directive of the Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization, Dr.Reddy’s will conduct the clinical trial using its product, and the other four pharma companies will be required to demonstrate equivalence of their product to the product used by Dr. Reddy’s in its clinical trial.

Oil prices fall for second straight day on coronavirus concerns, profit booking; Brent slips below $74 a barrel

The momentum indicator Relative Strength Index is at 64.43, indicating bullish movement in prices.

Dvara E-Dairy partners with IFFCO Tokio General Insurance for AI-led tag for cattle insurance

In a statement, the company said that one of the biggest issues faced by cattle insurance companies is the accurate identification of cattle and the processing time involved.

Silver prices slide on dollar rebound; weakness in gold and industrial metals

The momentum indicator Relative Strength Index (RSI) is at 37.01, which indicates weakness in the price.

Dishman Carbogen Amcis expects turnaround in FY22, working on resolution of regulatory issues at Bavla site

The European Directorate for the Quality of Medicines and Healthcare rates the corrective actions taken by the company on certain quality issues as appropriate. The European body had inspected the company’s Bavla site in February 2020.

TVS Automobile unveils digital subsidiary Ki Mobility Solution

Ki Mobility Solutions would raise funds to the tune of Rs 85 crore from Pratithi Investment Trust represented by trustee and Infosys co-founder Kris Gopalakrishnan and SeaLink Capital Partners (SCP).

United Airlines orders 270 new aircraft from Boeing, Airbus

United Airlines executives described the order – the biggest in the company’s history – as a landmark moment symbolising the radically improved outlook for travel due to COVID-19 vaccines.

Reliance Power begins equipment exports from its Samalkot project to Bangladesh project to cut debt

Reliance Power has sold the Module 1 of the gas-based power equipment, which has a capacity of 750 MW, to the Bangladesh project.

Natural gas futures steady at Rs 267.90/mmBtu; trading above major averages

The commodity has been trading higher than 5, 20, 50, 100 and 200-days#39; simple moving averages and exponential moving average on the daily chart.

Tata Electronics joins hands with SASTRA University

As part of the initiative, students admitted to the two-year M.Tech degree in Very Large-Scale Integration (VLSI) design will complete one year of the course at SASTRA campus in Thanjavur, Tamil Nadu, and the second year in either Asia University or Yuan Ze University in Taiwan, Tata Electronics Pvt Ltd (TEPL) said in a statement.

Apollo Hospitals to carry out COVID-19 vaccination drive on June 30

People looking to get vaccinated can book slots using Apollo 24/7 App and select the nearest Apollo vaccination centre, it added. The healthcare major noted that it has trained over 10,000 staff in safe vaccination protocols to ensure a seamless experience at all the vaccination centres.

Construction commences on unit 5 of Kudankulam nuclear power plant: Russian company

The first concrete pouring into the foundation plate is a critical development in building of a nuclear plant.

RBI’s consultative document is an attempt to level the playing field in the microfinance sector

The document aims at harmonising the regulatory set-up, ensuring financial inclusion of low-income borrowers, and promoting healthy competition among the lenders. However, there are some roadblocks and issues which need to be detailed out

Walmart helps MSMEs get medical support to navigate COVID-19

MSMEs have been receiving capacity-building support through Walmart Vriddhi since the start of the pandemic, helping them grow to new markets through Flipkart and Walmart channels and the open marketplace, Nidhi Munjal, Vice President of International Partnership Services at Walmart, said, in a release here Tuesday.

Moneycontrol Pro Panorama | FM’s second wave stimulus: Bootstrapping the economy

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Gold price falls by Rs 116 to Rs 47,089/10 gm on weak global cues; silver cheaper by Rs 263

The broader range on COMEX could be between $1770 - $1795 and on the domestic front, prices could hover in the range of Rs 46,780- Rs 47,280, said said Navneet Damani, VP – Commodities Research at Motilal Oswal Financial Services.

Loan guarantee scheme to boost medical infra, but simplified approvals need of the hour, says private providers

The Finance Minsiter Nirmala Sitharaman said the interest rate offered on the loan guarantee scheme is capped at 7.95 percent. Currently most private hospitals borrow at 12-14 percent interest rates. But executives of hospitals felt that the interest rates can be further cut by 200 basis points to make it more compelling to go beyond metro cities.

Dubai#39;s flag carrier Emirates likely to resume flights from India July 7 onwards: Report

“We#39;re expecting to resume our flights from India to Dubai from 7th of July 2021... We#39;re waiting for the exact travel protocols and relevant permits from the government authorities. We hope to have more details soon," the report said, quoting the airline in response to a query from a passenger on its Twitter account.

Additional Rs 23, 220 crore earmarked for one year for public health care sector, says FM Nirmala Sitharaman

With the additional Rs 23,220 crore earmarked for one year, FM Sitharaman said funding for short term HR augmentation through medical students (interns, residents, final year) and nursing students, will be focused on.

UAE flag carrier Emirates likely to resume Dubai-India flights from July 7: Report

“We#39;re expecting to resume our flights from India to Dubai from 7th of July 2021... We#39;re waiting for the exact travel protocols and relevant permits from the government authorities. We hope to have more details soon," the report said, quoting the airline in response to a query from a passenger on its Twitter account.