Business - The Purbottar

14 Jun

Rising Fuel Prices , Amid Pandemic.

editor0 CommentsBusiness

News on fuel price hikes, with its regularity, have almost become a permanent fixture , with prices being hiked on seven consecutive days now. Amid the pandemic-induced slowdown, wage cuts and job losses, these daily hikes have come as a major blow for many, across various strata of society. The issue has taken a political turn, with Transport Minister A.K.Saseendran writing a letter to the Union Petroleum Minister marking the State’s protest against the daily increase amid the pandemic. He requested the Minister to direct the petroleum companies to reduce the prices in line with the fall in global crude…

14 Jun

Tata Motors Purchases 50% Share Of Jayem Automotives

editor0 CommentsBusiness

Tata Motors today announced that it has signed an agreement to purchase the 50 per cent shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd. (JTSV). Further to this announcement, JTSV will become a wholly owned subsidiary of Tata Motors, following the completion of the procedural requirements. This does mean that cars under the JTP brand will no longer be sold in India. JTSV was formed in 2017 as a 50:50 joint venture between Tata Motors Ltd. and Jayem Automotives to develop high performance versions of the company's passenger cars under the 'JTP' brand. The company then launched the Tiago…

13 Jun

Mahindra & Mahindra loss at Rs 3255 crore

editor0 CommentsBusiness

Mahindra & Mahindra (M&M) on Friday reported a consolidated net loss of Rs 3,255.02 crore for the quarter ended on March 31, 2020. The company, along with Mahindra Vehicle Manufacturers Ltd, had posted a net profit of Rs 969.25 crore a year ago. “The results were affected due to the lower industry volumes in both the automotive and tractor segments, transition to BS-VI and the abrupt lockdown due to the Covid-19 situation,” M&M said. The company sold 86,351 vehicles in the fourth quarter, down 47 per cent from 1,63,937 units a year ago. For the 2019-20 fiscal, the net profit…

12 Jun

Mukesh Ambani’s Jio May Add Saudi

editor0 CommentsBusiness

12 June, 2020: The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani's digital business, as Asia's richest man seeks to expand his operations outside oil and petrochemicals, people with knowledge of the matter said. Saudi Arabia's $320 billion Public Investment Fund is considering buying a minority stake in Reliance Industries Ltd.'s Jio Platforms unit, according to the people, who asked not to be identified as the information is private. General Atlantic, the U.S. investment firm that helped fund Airbnb Inc. and Uber Technologies Inc., is discussing a potential investment of about $850…

12 Jun

SBI Relaunches Facility To Open Account Online

editor0 CommentsBusiness

State Bank of India (SBI) on Friday relaunched its facility to open a savings account in the bank online. Named 'SBI Insta Saving Bank Account', the country's largest lender is offering the facility to its customers to open the account through its app - YONO. In a release, SBI said that the new service will be completely paperless and customers would only need PAN and Aadhaar number. The account holders will also be issued an ATM-cum-debit card upon opening the account. In order to open an account via this process, customers need to download the YONO app, enter their PAN…

12 Jun

Netflix In Talks To Source Indian Content From Reliance Affiliate Viacom18

editor0 CommentsBusiness

June 12, 2020: US video streaming company Netflix is in talks with Viacom18, part of the Indian conglomerate Reliance Industries' media unit Network18, about a multi-year partnership to source content, three sources told Reuters, in a move that would expand a relationship between the two sides. Under the partnership, Network18 affiliates - which include its joint venture with ViacomCBS, Viacom18 - would create shows for Netflix to help the US firm expand offerings in India, where it competes against the video streaming services of Amazon.com Inc and Walt Disney Co. A Netflix spokesman in India denied the company was in…

12 Jun

Home Loans Cheaper From Today

editor0 CommentsBusiness

12 June, 2020: The country's biggest mortgage lender Housing Development Finance Corporation (HDFC) on Friday cut its retail prime lending rate (RPLR) by 20 basis points, or 0.2 per cent. The move is in line with other lenders in the sector, led by State Bank of India (SBI). According to news agency PTI, new rates will now range between 7.65-7.95 per cent. In a filing to the exchanges, HDFC said that the reduction in RPLR, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, will come into effect from 12 June. The filing also said that the move will…

12 Jun

Hike on the price of Petrol by 57 / litre

editor0 CommentsBusinessBusiness, Coronavirus, Covid-19, Fuel

Petrol price gets hiked by 57 paise per litre and diesel by 59 paise per litre as oil companies adjusted retail rates - the sixth straight day of increase in rates since oil firms adjusted their rates.Petrol price in Delhi was hiked to Rs 74.57 per litre from Rs 74, while diesel rates were increased to Rs 72.81 a litre from Rs 72.22, according to a price notification of state oil marketing companies.Rates have been increased across the country and vary in each state depending on the local sales tax or value added tax.This is the sixth consecutive daily increase in rates since oil…

11 Jun

Sony WH-CH710N wireless noise cancelling headphones launched in India at Rs 9,990, can last up to 35 hours on single charge.

editor0 CommentsBusiness

Sony on Thursday launched new wireless noise cancelling headphones for Rs 9,990 in India. The Artificial Intelligence Noise Cancellation (AINC) technology in ‘WH-CH710N' headphones constantly analyses environmental ambient sound components, and automatically selects the most effective noise cancelling mode for users' surroundings. Sony WH-CH701N headphones have a driver unit size of 30mm and a frequency response range of 7Hz to 20,000 Hz. The headphones come with a built-in lithium-ion battery which is claimed to deliver up to 35 hours of playback time. The device is also equipped with fast charging support and is said to offer 60 minutes of music…

11 Jun

Anushka Sharma: Didn’t start producing to make movies for me to star in

editor0 CommentsBusiness, EntertainmentAnushka, Bollywood

Actress Anushka Sharma says her decision to turn producer at the age of 25 came from her position as a star, which she could leverage to produce innovative and disruptive content for women in Bollywood. She adds that she did not start bankrolling films in order to star in them. "My decision to turn producer was because I wanted to leverage the position which I had, to produce good films. I did not start producing to make movies for me to star in", Anushka claimed, adding that she just "wanted to tell good stories". "I would be sitting and talking to writers, discussing things with…