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IRB Infra to sign concession agreement on Zozila pass by March

The scope of the project includes constructing approaches on NH-1 (Srinagar-Sonmarg-Gumri Road) on design, build, finance, operate and transfer (annuity) basis




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Karnataka gets Rs 9,700-cr investment commitment at Make in India Week

Solar cell manufacturer First Solar is looking to setup a manufacturing unit with an investment of Rs 6,000 cr




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Single-table system to clear investment proposals faster: Shivraj Singh Chouhan

Interview with Chief Minister, Madhya Pradesh




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Volkswagen used defeat device in India too: Geete

Emission nine times more than cap; firm denies claim




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Make in India Week nets Rs 15.2 lakh crore investment commitments

Of the total commitments, 30% have come from foreign players




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Rs 15-lakh cr investment promises at Make in India

Maharashtra, which was the host state, alone received investment proposals of Rs 7.94 lakh cr and 3,294 MoUs




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Modi's $222-billion Make in India haul masks challenges to come

Right now, the campaign launched in 2014 is best known for its logo - a lion made of cogs - that has shown up on billboards from Hanover to San Francisco




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New textile policy to reap Chinese slowdown benefits

The textile sector employs, at present, 35 million people, and aims to double the number by 2022. The government is focusing on training youths in different skills to meet this target




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Make In India Week: Odisha bags Rs 70,959 cr investment commitments

Around Rs 30,000 crore investments are from the mineral sector while the rest are from areas like food processing, electronics, textiles and renewable energy




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CERC issues regulations achieve clean energy target, sound grid operations

Advises Centre to ask states to execute energy accounting & implement availability based tariff




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Rupee extends losing streak

At 71.3125/3150 per dollar




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Government Of India Announces Sale Of Three Dated Securities For Rs 19,000 crore

The government of India (GoI) has announced the sale (re-issue) of three dated securities for Rs 19000 crore. These include 6.18% GS 2024 9,000, 7.57% GS 2033 4,000 and 7.16% GS 2050 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be price based (for all securities), using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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Firms Facing Hurdles In Movement Of Workers And Raw Materials In Commencing Operations: CII survey

The CII survey indicates that permits for enterprises, passes for workers and supply chain movement are the key hurdles for industry in exit from lockdown. For facilitating restart of economic activities, CII has suggested that in non-containment zones, businesses should be allowed to function without requirement of permits and only through intimation to local authorities. While state governments have mostly clearly communicated restart guidelines to businesses, firms are facing hurdles in movement of workers and raw materials in commencing operations. These are the findings of a nation-wide survey conducted by the Confederation of Indian Industry (CII).




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Procurement Of Wheat Progressing At Very Fast Pace In All Major States

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It Is Time We Think Of An Efficient Exit Option From The Lock Down To Resume And Revive Economic Activities: Suresh Prabhu

While reopening economic activities, we need to keep in mind that the industry cannot be opened in isolation, the whole ecosystem along with the related supply chains needs to be revived and restarted, said Suresh Prabhu, Hon'ble Member of Parliament. We should follow the Chinese model of revival through specific geographical openings for economic activities in areas which are marked green and keeping the hotspot districts completely locked, till there is full containment in those areas, said Hon'ble Member of Parliament. This is the time India needs to take advantage of the crises and convert it into an opportunity, we set our National goal of getting Foreign Direct Investments to India and each citizen and all arms of the government must work towards this common goal with complete alignment of reforms, said Prabhu. Businesses are the most important part of the economy, as they are significant contributors to economic growth and progress, he said.




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Currency In Circulation Rises 0.7% On Week

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Reserve Bank Extends Regulatory Benefits Under Special Liquidity Facility For Mutual Funds

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RBI Governor meets MD & CEOs of Public and Private Sector Banks over Video Conference

In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.




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Government Is Likely To Announce A Relief Package For MSME Sector Soon - Nitin Gadkari

Mr Nitin Gadkari, Minister of Road Transport and Highways and MSME, Govt of India said that government is likely to announce a relief package for the MSME sector soon. He further said that all stakeholders must adopt an integrated approach to come over the crisis while ensuring the lives and livelihood of the people. Mr Gadkari also urged the industry to have a positive attitude during this time to tide over this crisis. "We will win the fight against corona along with the economic crisis and make India the superpower nation. Hum honge kamyab," said Mr Gadkari.




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Government of India announces the sale of three dated securities for Rs 19,000 crore

The government of India (GoI) has announced the sale (issue /re-issue) of three dated securities for Rs 19000 crore. These include 5.09% GS 2022 3,000 May 08, 2020, New GS 2030 (maturing on May 11, 2030) 10,000 and 7.19% GS 2060 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be Yield based for New GS 2030 and price based for remaining securities using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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RBI Launches May 2020 Round Of Consumer Confidence Survey

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Government Contemplating Policy On Import Substitution In The Wake Of New Economic Situation Created By COVID-19 Pandemic: Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Nitin Gadkari informed that a policy on imports substitution is being thought of in the wake of the new economic situation created by COVID-19 pandemic. He called upon various stake-holders to convert knowledge into wealth by improving quality through innovations and cutting down cost. He sited the example of a Nagpur based MSME Orange cluster taking up PPE making from scratch. These PPEs cost between Rs 550 to Rs 650 against the market price of about Rs 1200 for which country was heavily import dependent. The cluster is in a position to supply large quantity of PPEs.




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Downward Trend In Fuel Prices Could Negatively Affect Cost Benefit Of Electric Vehicles

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Food grain procurement picks up pace amid lockdown

The procurement of wheat and rice (second crop) during the ongoing Rabi season has picked up pace despite severe logistical constraints posed due to the countrywide lockdown. Against the target of 400 Lakh Metric Tonnes (LMT) of wheat, procurement for central pool has touched 216 LMT upto 06.05.20. It is particularly heartening since procurement in major wheat procuring states like Punjab, Haryana and Madhya Pradesh had started only after 15th April. Similarly paddy procurement is also going on smoothly with 44.9 LMT paddy procured so far by the government agencies.




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Recruiting Talent: The Shirt, Dogfish Head Brewery

The Shirt founder Rochelle Behrens and Dogfish Head founder Sam Calagione share advice on recruiting talent at Wall Street Journal's How I Built It 2012 panel in Washington, D.C. WSJ's Vanessa O'Connell leads thediscussion.




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Women: Now Is The Time To Plan For Retirement

Some women may avoid planning for retirement or handling the family's investments but now is the time to get engaged, says Susan Hirshman, president of SHE Ltd.




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Cyient consolidated net profit declines 74.41% in the March 2020 quarter

Sales decline 7.68% to Rs 1073.60 crore




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Biocon receives EIR from USFDA for its small molecules API facility in Bengaluru

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Hexaware Technologies launches KareRing, a cloud based quarantine zone management solution

KareRing adheres to standards like data encryption. Advanced tracking technology increases accuracy by using other sensory data. The app leverages AI-powered global identity verification to authenticate users' identity before onboarding them and uses data analytics and intelligence techniques to visualize user data. An inbuilt, WHO-compliant bot is used for user self-health assessment. The app has also an added functionality for healthcare organizations to evaluate the efficacy of the vaccine under trial.




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Zydus Cadila launches affordable prostate cancer treatment drug 'Obnyx'

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Procter & Gamble Hygiene and Health Care standalone net profit rises 1.10% in the March 2020 quarter

Sales decline 6.19% to Rs 656.05 crore




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McDonald's India adds new McSpicy Fried Chicken on its menu

Speaking about this new fried chicken on the menu, Seema Arora Nambiar, Sr. Vice President, Menu, Marketing and People Resources, McDonald's India (West and South) said All our products are designed keeping in mind what our consumers want and like. McSpicy Fried Chicken has been specifically crafted as per the taste preference of our consumers. This product is carefully marinated with ghost chili pepper and is fried to perfection to ensure it is spicy to the last bite - just the way consumers love it.




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BASF India receives demand notice from Commercial Tax Department, Karnataka

The company has now received demand notice for the further period i.e. 2013-14 from the Commercial Tax Department, Karnataka aggregating to Rs. 85.19 crores (including interest & penalty) by treating the stock transfers of its Mangalore Plant as interstate sales to dealers.




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K C P resumes operations at engineering unit and cement production unit

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SBI Card & Payment Services standalone net profit declines 66.41% in the March 2020 quarter

For the full year, net profit rose 43.91% to Rs 1244.82 crore in the year ended March 2020 as against Rs 864.97 crore during the previous year ended March 2019




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Shree Cement consolidated net profit rises 57.60% in the March 2020 quarter

Sales decline 2.13% to Rs 3415.14 crore




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Swaraj Engines standalone net profit declines 4.86% in the March 2020 quarter

Sales decline 8.53% to Rs 175.13 crore




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Exit polls give Bengal to Mamata, Assam to BJP, Kerala to Left, TN to DMK

Exit polls predicted a win for the DMK-Congress alliance in Puducherry too, ousting the ruling All India NR Congress




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Assembly Elections 2016: Exit polls show Mamata may buck anti-incumbency trend

Most exit polls see loss for Jaya; Assam for BJP; left turn for Kerala




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EC allows SBI to take currency vans holding Rs 570 crore back to Coimbatore

State Bank of India was transferring the money from Coimbatore to Vishakhapatnam to tide over a cash shortage in Andhra Pradesh when the vans were seized by the Election Commission




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Will work harder till we win the confidence of people: Rahul Gandhi

Election trends suggest that Congress has lost in Kerala and Assam and has failed to make a dent in West Bengal and Tamil Nadu despite alliances




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Assembly Elections 2016: 5 stars who made a difference

A look at key faces who helped their parties cross the finish line




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India to merge rail, general budgets; end non-plan, plan distinction

Officials said a better indicator of productive and general expenditure will be replacing the plan and non-plan distiction that has lost relevance post Planning Commission abolition




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Railways' 'Mission 41K' to save energy worth Rs 41,000 cr

The ministry plans to achieve this target by doubling the current pace of electrification




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Extend farm benefits to plantations also: Planters' body to govt

South India constitutes nearly 60% of India's plantation sector




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Cyient tumbles after weak Q4 numbers

Cyient skid 7.32% to Rs 214.75 after consolidated net profit slumped 58.26% to Rs 45.20 crore on a 2.92% decline in net sales to Rs 1,073.60 crore in Q4 March 2020 over Q3 December 2019.




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Benchmarks near day's high; RIL in demand

The domestic equity barometers traded near the day's high in morning trade. The Nifty was trading above the 9300 mark. Buying in index major Reliance Industries (RIL) pushed the benchmarks higher. At 10:29 IST, the barometer index, the S&P BSE Sensex, was up 441.29 points or 1.40% at 31,884.67. The Nifty 50 index rose 122.10 points or 1.33% at 9,321.15.




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Biocon gains after Bengaluru API facility gets EIR

Biocon gained 1.82% to Rs 356 after the company said it received establishment inspection report (EIR) for small molecules API manufacturing facility in Bengaluru.




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Shares extend gains; pharma stocks in demand

Key benchmarks extended gains in mid-morning trade. The Nifty was trading above the 9300 mark. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 494.49 points or 1.57% at 31,937.87. The Nifty 50 index rose 137.15 points or 1.49% at 9,336.20.




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NLC India slips after fire accident at Neyvali plant

NLC India fell 0.46% to Rs 43.70 after the company said eight workers were injured in a fire accident at the TS II power plant in Neyveli, Tamil Nadu.