Page 2 - Business Finance
Huawei's Honor likely to launch new smartphones in the next quarter
The US government has barred its companies, including Google, from supplying software and hardware to Huawei alleging security risk from the company
 "Huawei's Honor likely to launch new smartphones in the next quarter")
Samsung rapped for not passing GST cut benefit to consumers
The anti-profiteering body, which functions under the GST Council, has also sought documents of sales made by the company
Supplementary Demands for Grants provide for Rs 41,000 crore for recap of PSBs (Lead, correcting headline)
The demands, tabled by Finance Minister Arun Jaitley, contain proposals involving a net cash outgo aggregate to Rs.15,069.49 crore and gross additional expenditure, matched by savings of the ministrie
Govt seeks Parliament approvals for extra spending of over Rs 15000 crore
Finance Minister Arun Jaitley tabled the second batch of Supplementary Demand for Grants for 2018-19 involving a gross spending of Rs 85948.86 crore in the Lok Sabha.
LG to introduce five devices under India-first W series of smartphones
India is one the biggest markets globally for smartphones
 "LG to introduce five devices under India-first W series of smartphones")
Government Releases Total Of Rs 423.23 Crores To States/UTs Under e-NAM Scheme
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RBI Committee Proposes Rs 5000 crore Stressed Asset Fund For MSMEs
A Reserve Bank of India (RBI) expert committee has suggested a Rs 5,000 crore stressed asset fund for domestic micro, small and medium enterprises (MSMEs). Micro, Small and Medium Enterprise (MSME) sector has emerged as a very important sector of the Indian economy, contributing significantly to employment generation, innovation, exports, and inclusive growth of the economy. However, MSMEs continue to face challenges of formalization, access to knowledge services, access to timely and adequate finance, improving competitiveness, availability of skilled man-power, access to latest technology and marketing. The MSME sector is yet to benefit from the advances in digitization, which can substantially reduce the cost and time for this sector. SHGs and rural entrepreneurship have made very good progress in the last few years, but creating the environment for the next stage of their growth is a task yet to be accomplished. The sector was also affected in the recent past due to structural ...
Sensex, Nifty trade with small gains
Key barometers were trading with small gains in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 75.34 points or 0.19% at 39,510.28. The Nifty 50 index was up 21.05 points or 0.18% at 11,817.50.
LGB Forge Ltd leads gainers in 'B' group
The Investment Trust of India Ltd, BSL Ltd, VIP Clothing Ltd and V2 Retail Ltd are among the other gainers in the BSE's 'B' group today, 26 June 2019.
SBI Life Insurance vaults after foreign brokerage maintains buy call
SBI Life Insurance Company was up 4.73% to Rs 706.80 at 11:07 IST after a foreign brokerage reportedly maintained a 'buy' rating on the stock with a target of Rs 830 per share.
Hind Rectifiers intimates of withdrawal of credit ratings by ICRA
The outstanding ratings of [lCRA]BB(Stable)/[ICRA]A4+ on the bank facilities stands withdrawn, while MB+(Stable) for fixed deposit programme has been placed on notice of withdrawal for a period of six months.
Reliance Infrastructure Ltd leads gainers in 'A' group
Reliance Power Ltd, IFCI Ltd, Reliance Capital Ltd and Dilip Buildcon Ltd are among the other gainers in the BSE's 'A' group today, 26 June 2019.
Australian media demands press freedom law reforms
Australia's three largest media organisations have joined forces to demand press freedom law reforms that would prevent journalists from risking prison for doing their job. New Corp. Australia, Australian Broadcasting Corp. and Nine Entertainment released their agreed demands on Wednesday for law reforms following police raids on consecutive days early this month at ABC's Sydney headquarters and a News Corp. reporter's Canberra home in search of leaked government documents. The rival organisations want journalists to be exempt from national security laws passed that "would put them in jail for doing their jobs." They also want a right to contest warrants such as those executed in Sydney and Canberra. Both the ABC and New Corp. this week lodged court challenges to both those warrants in a bid to have documents returned.
UST Global Honored With Stevie Awards for 'Human Resources Team of the Year'
/ -- ~Company also wins 'Technical Professional of the Year' at the 2019 American Business Awards~ UST Global, a leading digital transformation solutions company, announced that it has been awarded two Stevie Awards at the 17th Annual American Business Awards. The company was named a bronze winner in 'Human Resources Team of Year' and silver in 'Technical Professional of the Year' categories. (Logo: http://mma.prnewswire.com/media/540539/UST_Global_Logo.jpg ) The American Business Awards are the U.S.A.'s premier business awards program. More than 3,800 nominations from various organizations were submitted and more than 200 professionals participated in the judging process to select this year's Stevie Award winners. UST Global was awarded "Human Resources Team of the Year" for their People Capability Development team. In an effort for driving Digital Transformation and building a culture of high performance, UST Global developed a new program to engage in talent transformation by ...
Trading turns volatile
Indices witnessed a bout of volatility in mid-morning trade. Both the key barometers wiped off day's gains and briefly slipped into negative terrain. At 11:15 IST, the barometer index, the S&P BSE Sensex, was now up 52.23 points or 0.13% at 39,487.17. The Nifty 50 index also bounced back and was now up 21.85 points or 0.19% at 11,818.30.
Reliance Power reverses 2-day slump
Reliance Power jumped 7.98% to Rs 4.33 at 10:53 IST on BSE on bargain hunting after a recent slump.
Reliance raises $1.85 billion long-term loan to infuse into Jio
Mukesh Ambani-led Reliance Industries has signed pacts with overseas lenders to avail long-term loans of 1.85 billion dollars (about Rs 12,850 crore) to finance its capital expenditure for the telecom arm.The fund-raising comes amid reports of the company planning to infuse as much as Rs 20,000 crore into Jio to bolster broadband and e-commerce play ahead of a potential entry into 5G mobile telephony services in future."The company has entered into agreements with offshore lenders for availing long term loans aggregating 1.85 billion dollars, primarily for meeting a part of its planned capital expenditure in the normal course of its business," it said in a statement.Reliance on an ongoing basis evaluates financing opportunities with lenders in the normal course of business. "If any of such proposal requires disclosure to the stock exchanges under Clause 30 of SEBI LODR Regulations 2015, the company will make such disclosure at the time and in the manner prescribed under the applicable
Volumes soar at Century Plyboards (India) Ltd counter
Century Plyboards (India) Ltd recorded volume of 6.37 lakh shares by 10:49 IST on BSE, a 117.75 times surge over two-week average daily volume of 5406 shares
Ducon inks pact with Sterling & Wilson to bid for large FGD projects in India
Ducon Infratechnologies Wednesday said it has entered into a strategic partnership with Shapoorji Pallonji group firm Sterling & Wilson to jointly bid for large size Flue Gas Desulfurization (FGD) tenders in India. "The joint bidding exercise has significantly expanded our financing capabilities to bid successfully for large FGD projects which were earlier not biddable solely by them or us as an individual entity and has created a win-win situation for both the parties," Ducon Infratechnologies said in a regulatory filing. Sterling & Wilson is an engineering, procurement and construction (EPC) company in the area of renewable energy, construction, and transmission and distribution. Ducon Infratechnologies said considering the massive influx of FGD tenders, the company had decided to capitalise on the maximum FGD project opportunities by either sole bidding on smaller projects or joint bidding with another reputable EPC company on large FGD projects.
Adani Power says resolution plan for GMR Chhattisgarh approved
A consortium of lenders led by Axis Bank has issued a letter of intent approving Adani Power's resolution plan to acquire controlling equity stake and restructure debt in GMR Chhattisgarh Energy Limited (GCEL).The resolution plan was submitted by Adani Power in response to an invitation issued on behalf of the lenders of GCEL, seeking bids for the acquisition of controlling equity stake and restructuring of debt of GCEL.Post the transaction, Adani Power will hold 100 per cent equity stake in GCEL. Of this, 52.38 per cent stake will be acquired from the lenders, and the balance 47.62 per cent from the GMR Group, the company said in a statement.GCEL owns an operational 1,370-megawatt supercritical thermal power plant at Raikheda in Raipur district of Chhattisgarh. The plant consists of two units of 685 MW each, commissioned in June 2015 and April 2016.After the approval of the resolution plan by the committee of creditors of Korba West Power Company Limited (KWPCL) on April 8, Adani ...