Feb 9 Daily Updates

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Feb 8, 2016, 9:11:14 PM2/8/16
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  • FM urges states to step up social, infra spending: Reports

    Posted:2016-02-09 07:33:34 UTC+05:30
    According to media reports, the country’s Finance Minister Arun Jaitley has called on state governments to bolster spending on key development areas such as infrastructure and poverty alleviation schemes. Jaitley said that with the 14th Finance Commission allocating higher funds to states, their development spending is expected to go up. The 14th Finance Commission had in 2015 recommended a 

  • Rs 1 lakh cr disbursed under MUDRA Yojana: PM

    Posted:2016-02-09 07:28:58 UTC+05:30
    Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, Prime Minister Narendra Modi said, emphasising that the government wants youth to be job creators and not job seekers. Speaking at the inauguration of Indian Oil Corp's (IOC) Rs 34,555-crore Paradip Refinery, Modi said apart from public and private sector, there was a need for 

  • Implementation of flagship schemes "big test" for India: Kochhar

    Posted:2016-02-09 07:28:41 UTC+05:30
    India must remain focussed on executing various ambitious programmes like Make in India and strengthen institutional framework, top banker Chanda Kochhar has said while underlining that the implementation of these campaigns is going to be a "big test" for the country. "There is a genuine effort and a genuine intent on the part of the government to make these changes happen. We are seeing a whole

  • NBCC secures biz worth Rs 2,525.86 cr in January

    Posted:2016-02-09 07:28:06 UTC+05:30
    State-owned real estate developer National Buildings Construction Corporation Ltd (NBCC) on Monday said it has secured business amounting to Rs 2,525.86 crore (approx) in the month of January, 2016. The company has secured Project Management Consultancy work (PMC) amounting to Rs 2,458.88 crore out of total business in the month of January, NBCC said in a filing to the Bombay Stock Exchange on 

  • Strides Shasun posts Rs 51.86 cr profit in Dec quarter

    Posted:2016-02-09 07:27:47 UTC+05:30
    Bangalore-based pharma major Strides Shasun Ltd on Monday reported a consolidated net profit after taxes (PAT) of Rs 51.86 crore in the October-December quarter of FY 16. “The consolidated net profit of the company stood at Rs 19.04 crore during the same period a year ago,” said Strides Shasun Ltd in a filing to the Bombay Stock Exchange on February 08, 2016. Shasun Pharmaceuticals’ merger with 

  • AMBIKA COTTON MILLS LTD. (AMBIKCO) - FINANCIAL QUARTERLY

    Posted:2016-02-08 07:42:12 UTC+05:30
    AMBIKA COTTON MILLS LTD. (AMBIKCO) - FINANCIAL QUARTERLY FIGURES IN RS CROREDEC-2015SEP-2015JUN-2015MAR-2015DEC-2014 REVENUE124.29123.42124.22121.66123.43 OTHER INCOME0.070.080.080.090.08 TOTAL INCOME124.36123.50124.30121.75123.51 EXPENDITURE101.30100.7399.3998.08100.54 OPERATING PROFIT23.0622.7724.9123.6722.97 INTEREST1.071.201.471.261.42 PBDT21.9921.5723.4422.4121.55 

  • MCX

    Posted:2016-02-07 20:22:45 UTC+05:30
    MCX

  • ​January jolt! Mutual fund AUM ​crashes by Rs 11.2 billion

    Posted:2016-02-07 20:21:46 UTC+05:30
    The latest plunge in equities, which began as the world ushered in 2016 and China tripped the global markets, shaved assets under management (AUM) of mutual funds by Rs 11.21 billion, or 10 basis points, to Rs 12.74 trillion in January, according to data from the Association of Mutual Funds in India. ​​What saved the blushes were income, liquid funds and exchange-traded funds (ETFs), including 

  • Why is Petrol Diesel Prices so high ?

    Posted:2016-02-06 18:31:28 UTC+05:30
    Record production in the United States (US), weakened demand from the Eurozone and emerging economies like China and Brazil, and Iran’s entry into the international market have effectively slashed the price of crude oil for India, from $106 per barrel in July 2014 to $26 in January 2016—a 75% drop over 15 months.So, why are you not seeing evidence of this price-cut at your local petrol and diesel

  • PLFs of power plants to remain at 22 year low: Ind-Ra

    Posted:2016-02-06 18:30:35 UTC+05:30
    Plant load factors (PLFs) of power companies are unlikely improve in FY17 from the 61.7 per cent in 9MFY16, despite improving fuel supply since demand growth for electricity is expected to stay muted says India Ratings & Research (Ind-Ra). All India thermal plant PLFs have been consistently declining and have fallen 21.5 per cent since the peak of 78.6 per cent in FY08. Ind-Ra expects 

  • CPWD to generate 42.50 MW solar power by Sept, 2016

    Posted:2016-02-06 18:29:56 UTC+05:30
    State-controlled construction major, the Central Public Works Department (CPWD) will generate 42.50 MW of solar energy across the country besides replacing energy inefficient electrical fittings in 20 government buildings in Delhi by September, 2016 and in rest of the country later, according to an official statement. “These initiatives of CPWD are estimated to result in a total saving of Rs.115

  • India's handicraft exports grow 10 pct in Apr-Dec

    Posted:2016-02-06 18:29:31 UTC+05:30
    Country's handicraft exports grew 10 per cent to Rs 14,782 crore during the first nine months of this fiscal notwithstanding a slowdown globally, the Textile Ministry said today. In comparison, the handicraft shipments stood at Rs 13,460 crore during April-December 2014. "In dollar terms, the value of exports has increased by 3 per cent, from USD 2,215 million during April-December 2014 to USD 

  • Cadila Healthcare Q3 profit surges 38.2 pct at Rs 389.6 cr

    Posted:2016-02-06 18:28:27 UTC+05:30
    Pharma major Cadila Healthcare Ltd on Friday reported a growth of 38.2 per cent in its consolidated net profit after taxes (PAT) at Rs 389.6 crore for the third quarter ended December 31, 2015, on the back of robust sales in the US market. “The consolidated net profit of the drug firm stood at Rs 281.9 crore during the same period a year ago,” said Cadila Healthcare Ltd in a filing to the Bombay

  • Domino's Pizza India crosses the 1000th restaurant milestone

    Posted:2016-02-06 18:27:51 UTC+05:30
    Jubilant FoodWorks’ Domino’s Pizza, India’s Pizza delivery expert and market leader in the chained pizza segment has inaugurated its 1000th restaurant at Unity One Mall, Janakpuri, New Delhi. With the 1000th restaurant, India joins the USA - home country of Domino's Pizza where the brand has been operating since 1960 - to become the only other country with over 1000 restaurants, the company said

  • Eicher Motors net profit zooms 76 pct in Dec quarter

    Posted:2016-02-06 18:27:32 UTC+05:30
    Commercial vehicles maker Eicher Motors today reported 76.1 per cent increase in its consolidated net profit at Rs 270.8 crore for the quarter ended December 31, 2015, riding on robust sales. The company had posted a net profit of Rs 153.77 crore in the year-ago period, Eicher Motors said in a filing to the Bombay Stock Exchange. During the quarter under review, total income of the company 

  • NHPC restores unit-2 of Chutak Power Station

    Posted:2016-02-06 18:26:18 UTC+05:30
    Indian hydro power generation company NHPC Ltd on Friday said that unit-2 of the Chutak power station in Jammu & Kashmir has been restored on February 04, 2016. Since October 25, 2015, the company’s unit 2 of Chutak Power Station was under complete shutdown due to problem in water parts. In a filing to the Bombay Stock Exchange, the company informed, “Unit 2 of Chutak Power Station in Jammu & 

  • Friday usually fine! Flat start for indices

    Posted:2016-02-05 09:03:03 UTC+05:30
    What you risk reveals what you value. - Jeanette Winterson Fridays have usually been cheerful for the indices despite the subdued sentiment which prevails broadly. The Indian equity market breached a three-day losing streak and ended higher after a bounce in crude oil prices. We won’t debate on why higher crude prices should benefit  but that seems to be the only plausible explanation for recent 

  • GST to become a reality soon: FM

    Posted:2016-02-05 08:45:58 UTC+05:30
    The Finance Minister has said that he hoped that the opposition parties will see reason and the Goods and Services Tax (GST), which is held up in Rajya Sabha, will become a reality soon. Commenting on the issue, Finance Minister Arun Jaitley told the media, "It (GST) has been supported by most political parties and I am sure others will also see reason and this law will become a reality very 

  • Not only government, MNCs too responsible for tax rows: Raghuram Rajan

    Posted:2016-02-05 08:35:26 UTC+05:30
    Blaming multinational corporations squarely for tax controversies, Reserve Bank Governor Raghuram Rajan said their indulgence in avoidance and evasion results in prolonged legal battles, according to the PTI report. Addressing the issue of tax havens, Rajan wondered aloud as to what makes a bulk of intellectual property reside in Cayman Islands, quipping that no one has seen scientists in so 

  • India's exports may fall to $265-270 bn in FY16: FIEO

    Posted:2016-02-05 08:35:04 UTC+05:30
    The country's exports will range between USD 265-270 billion in 2015-16, sharply lower than the USD 310.5 billion achieved in the previous fiscal, exporters' body FIEO said according to the media report. "According to our assessment exports for the current fiscal will range between USD 265-270 billion. If this trend continues it may lead to job losses," FIEO Director General Ajay Sahai told PTI

  • India's domestic passenger traffic grew by 20.2 pct: IATA

    Posted:2016-02-05 08:34:42 UTC+05:30
    India's domestic air passenger traffic grew by a whopping 20.2 per cent in 2015 over the previous year, helped by higher economic growth and increase in number of flights across domestic airlines network, according to the global airlines body IATA. "Total domestic travel grew by 6.3 per cent in 2015, although there was a wide dispersion in performance by market. The India and China domestic 

  • Most telcos failed Trai's call drop test, improvement in Delhi

    Posted:2016-02-05 08:34:28 UTC+05:30
    Most of the telecom operators, including state-run MTNL, failed random drive tests conducted by the regulator Trai to check quality of their network and services as part of its efforts to rein in call drop menace, according to the media report. As per the test report released by the Telecom Regulatory Authority of India (Trai) today, none of telecom operators showed improvement in call drops in

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