Business - The Purbottar

21 Jun

Diesel Price Hits Record High As Fuel Rates Raised For 15 Days In A Row

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In the 15-day period, the price of petrol has been increased by a cumulative Rs 8.88 per litre in the national capital, and diesel by Rs 7.97 per litre. Petrol and diesel rates were raised to Rs 79.23/litre and Rs 78.27/litre respectively. Petrol and diesel prices were increased on Sunday, the fifteenth straight hike since state-owned oil companies returned to the normal practice of daily reviews following a 12-week pause. The rate of diesel in Delhi touched a new record high, while petrol was at a two-year peak. With effect from 6 am, the price of petrol was increased by 60…

20 Jun

Apple may make it’s latest iPhone ‘cheaper’ in India.

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Apple’s make-in-India push is set to get a shot in the arm as it has been reported that the new iPhone SE could be assembled in India. According to a report by The Information, Apple has informed one of supplier in China to begin shipping components for the latest iPhone SE to India. Apple’s manufacturing partners will get the components to assemble the new iPhone in India. What it will do is that it will help the Cupertino-based tech giant to avoid high import taxes it has to pay. It could also make the iPhone SE — which starts at…

20 Jun

Realme Narzo 10A Next Sale on June 23 via Flipkart

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Realme Narzo 10A will next go on sale in India on June 23. The flash sale for the phone will be held via Flipkart and the Realme India website. The phone was launched in May after many initial delays due to the coronavirus lockdown. It has been available via flash sales ever since. Realme Narzo 10A was introduced alongside the Realme Narzo 10 that is also available via flash sales currently. The next sale for the Realme Narzo 10 is also set for June 23. Realme Narzo 10A sale will begin at 12pm (noon) IST on Flipkart and Realme.com on June…

20 Jun

Offers Of Upto ₹ 1 Lakh On The Honda City & Amaze In June

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In a bid to attract new customers this month, Honda Cars India is offering lucrative deals and offers on selected models. As a part of the offer, the Japanese car manufacturer is providing discounts of up to ₹ 1 lakh on select models, namely the Honda Amaze and Honda City. Notably, these offers on Honda cars are subject to variant, grade and location and it may vary by the model or by variants. All the offers are valid till June 30, 2020, or till the stocks last.

20 Jun

Glenmark Pharmaceuticals launches COVID-19 drug after DCGI nod.

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Glenmark Pharmaceuticals on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19.The Mumbai-based drug firm had on Friday received manufacturing and marketing approval from the Drugs Controller General of India (DCGI). FabiFlu is the first oral Favipiravir-approved medication for the treatment of COVID-19, the company said in a statement. "This approval comes at a time when cases in India are spiralling like never before, putting a tremendous pressure on our healthcare system," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.The company hopes that the availability…

20 Jun

Supreme Court Demands Explanation From Registry Why Vijay Mallya’s Plea Not Listed For 3 Years

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New Delhi: The Supreme Court has directed its registry to explain why the petition filed by businessman Vijay Mallya, who has sought review of its 2017 order holding him guilty of contempt of court for transferring USD 40 million to his children, was not listed before the concerned court for last three years. A bench of Justices UU Lalit and Ashok Bhushan, which took up Vijay Mallya's review petition in-chamber on June 16, directed the top court registry to furnish all the details including names of officials who had dealt with the file concerning the review petition for last three years.…

20 Jun

Becomes ‘net debt-free’, announces Mukesh Ambani

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New Delhi: Reliance Industries (RIL) chairman Mukesh Ambani on Friday announced that the oil-to-telecom conglomerate has become debt free after raising over Rs 1.69 trillion over the last few weeks through stake sales in its digital arm and a rights issue. In a statement, the company said that the Reliance Industries has "fulfilled promise to shareholders much before the original schedule of March 31, 2021". "The combined capital raised has no precedence globally in such a short time. Both of these are also unprecedented in Indian corporate history and have set new benchmarks. This is even more remarkable that this was achieved amidst a global lockdown caused by the…

20 Jun

BMW appoints Vikram Pawah as new president

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German luxury car maker BMW on Saturday appointed Vikram Pawah as the president of BMW Group India effective August 1, 2020, in addition to his current role as chief executive officer of BMW Group Australia and New Zealand. Following the sudden demise of Rudratej Singh, the then president and chief executive officer in April this year, Chief Financial Officer Arlindo Teixeira has been carrying out the role as acting president of BMW Group India. Pawah has been with the BMW Group since 2017, when he joined BMW Group India as the president. In 2018, he was appointed the chief executive officer…

20 Jun

Petrol, diesel prices raised again

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Petrol price was increased on Saturday by 51 paise per litre and diesel by 61 paise a litre in Delhi, taking the cumulative increase in rates to Rs 5.88 and Rs 6.50 respectively in two weeks in the national capital. Petrol will now cost Rs 78.88 for a litre and diesel Rs 77.67 per litre from Saturday after they were raised for the 14th day in a row. Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from daily rate revision amidst the coronavirus pendemic. These firms restarted revising prices on June 7.

19 Jun

ICICI Lombard General Insurance

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ICICI Bank said on Friday it offloaded ICICI Lombard General Insurance Company shares worth Rs 2,250 crore to further strengthen its balance sheet. The 1.8 crore shares sold on Friday were of a face value of Rs 10 each, representing a 3.96 per cent stake in ICICI Lombard General Insurance. After the transaction, ICICI Bank's stake in ICICI Lombard General Insurance Company decreased to 51.9 per cent, from 55.86 per cent at the end of March 2020. Shares in ICICI Lombard General Insurance Company declined to as low as Rs 1,250.10 apiece on the BSE on Friday, marking a fall of 2.07 per cent compared…