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  • Why Vedanta could gain out of Electrosteel acquisition

    21 April, 2018 3:29 PM 35

    For Vedanta, acquisition of Electrosteel could be value accretive as it has iron ore mines around the latter's plant thus reducing the overall cost For Vedanta, acquisition of Electrosteel could be value accretive considering that the company has got ready iron ore mines around the latter's plant thus reducing the overall cost and generate better returns

  • ‘Road map for manufacture of commercial planes soon’

    21 April, 2018 3:05 PM 34

    Focus is on self-reliance, jobs, says Prabhu; Sinha-led task force set up for drones The Indian government is preparing a road map for the manufacture of commercial aircraft and drones in the country in order to stem the drain of foreign exchange, to become self-reliant and to create high-value jobs, said Suresh Prabhu, Minister for Commerce, Industry

  • ‘Walmart, Flipkart deal very soon’

    21 April, 2018 3:03 PM 34

    Purchase of new equity likely to value e-commerce firm at at tleast $18 billion Walmart Inc. could seal a deal to buy a more than 51% stake in Indian online marketplace Flipkart as early as next week, two sources familiar with the matter said. The U.S. retail giant has been in talks with Flipkart for months to acquire a controlling stake in the firm as it looks

  • Phoenix Mills, Canada firm acquire land for retail use

    21 April, 2018 2:58 PM 36

    Mumbai-based realty firm Phoenix Mills Limited (PML), in association with Canada Pension Plan Investment Board (CPPIB), has acquired a land parcel in Hebbal, Bengaluru, for a total consideration of ₹650 crore (Canadian $130 million). The acquisition was done through Island Star Mall Developers Pvt. Ltd. (ISMDPL), the strategic investment alliance of PML and CPPIB

  • HDFC Bank profit rises 20%

    21 April, 2018 2:53 PM 36

    Advances grow 18.7% in fourth quarter aided by retail and corporate portfolios HDFC Bank, the second largest private sector lender, reported 20.3% year-on-year growth in net profit to ₹4,799.3 crore for the quarter ended March 31, 2018. The net profit was in line with analysts’ expectation. The profits were boosted by both interest and non-interest-income

  • Rs 12,000 crore farmers' financial assistance scheme from May 10

    21 April, 2018 12:59 PM 66

    The state government allotted Rs 12,000 crore in the budget for implementation of the scheme. A Rs 12,000 crore financial assistance scheme for the benefit of farmers will be rolled out by the Telangana government from May 10. Chief Minister Chandrasekhar Rao, in a review meeting on Saturday, suggested that the ministers, MPs, MLAs, MLCs and other local

  • AIADMK to field candidates in 3 constituencies in May 12

    21 April, 2018 12:31 PM 40

    The ruling AIADMK in Tamil Nadu today announced it would field its candidates from three Assembly constituencies for the May 12 Karnataka polls. AIADMK coordinator O Panneerselvam and co-coordinator K Palaniswami announced their party's candidates for Hanur, Gandhinagar and Kolar Gold field assembly segments. M P Yuvaraj is the party's pick for Gandhinagar

  • MPC members to tread cautiously over interest rate hike

    20 April, 2018 4:15 PM 41

    RBI Governor Urjit Patel and 4 other members of the Monetary Economic Policy (MPC) will wait for more data before making any judgement regarding the future course of interest rates. India’s Monetary Policy Committee (MPC) that is responsible for fixing benchmark index rates in the country, which so far favoured a wait-and-watch approach on interest

  • Siddaramaiah declares assets worth over Rs 20 cr; Kumaraswamy Rs 167 cr

    20 April, 2018 3:37 PM 29

    Karnataka Chief Minister Siddaramaiah and his family have assets worth over Rs 20 crore, as per his affidavit filed along with the nomination for the May 12 assembly elections. State JDS chief H D Kumaraswamy, who is contesting from two constituencies, declared his and his wife's assets totalling more than Rs 167 crore. Their liabilities stood at over Rs 103 crores

  • Life insurers see 11% rise in new premiums in FY18

    20 April, 2018 3:28 PM 38

    The private sector companies beat LIC in terms of growth in new premium collection Life insurance companies saw an 11 percent increase in their first year premiums for the financial year 2017-18 (FY18). According to data from the Insurance Regulatory and Development Authority of India (IRDAI), the insurers collected new premiums of Rs 1.94 lakh crore