Business - The Purbottar

04 Mar

Tata Motors completes delivery of India’s first LNG bus order

editor0 CommentsBusiness

Committed to providing sustainable transport solutions, Tata Motors, India’s largest commercial vehicle manufacturer,completes delivery ofthe country’s first Liquefied Natural Gas (LNG)-powered bus order. Two units of 36-seater Starbus LNG ACmodels were delivered to LNG Petronet Limited in Dahej, Gujarat and two units in Kochi, Kerala. Tata Motors indigenously developed and delivered the LNG buses in the stipulated timeframe. The conclusion of the order and country’s first LNG bus project was celebrated withan event held recentlyat the Kochi LNG terminal. The occasion was graced by Hon’ble Minister of Transport, Govt. of Kerala, Shri A K Saseendranalong with eminent dignitaries from Tata Motors and Petronet…

29 Feb

Mukesh Ambani Named World’s Ninth Richest, With 2 Others

editor0 CommentsBusiness

Reliance Industries Ltd (RIL) chief Mukesh Ambani is the ninth richest person in the world along with Steve Ballmer of Microsoft and Larry Page of Google, each having a net worth of $67 billion, according to the Hurun Global Rich List 2020.Mr Ambani, 62, maintained a place in the top 10 for the second time after a $13 billion or 24 per cent surge in his wealth to $67 billion."The only Asian in the Top 10, Mr Ambani's wealth increased mainly on the back of a good performance in his telecom business," the Hurun Rich List said.

29 Feb

Sensex Plunges 1,448 Points, Nifty Holds 11,200 As Coronavirus Rattles Markets

editor0 CommentsBusiness

Domestic stock markets slumped more than 3 per cent on Friday continuing their downward spiral for the sixth session in a row, as fears the coronavirus outbreak may trigger recession across major economies spooked their global peers. Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, compelling countries to stockpile medical equipment and investors to take flight in expectation of a global recession. The S&P BSE Sensex ended at 38,297.29, lower by 1448.37 points - or 3.64 per cent - from its previous close, and the Nifty shut shop down 431.55…

29 Feb

Nirmala Sitharaman Sees 4.7% GDP Growth As ‘Steadiness’ In Economy

editor0 CommentsBusiness

Finance Minister Nirmala Sitharaman on Friday termed the 4.7 per cent GDP growth of Q3 as "steadiness" in the economy and a good sign, soon after the official figures for the December quarter were released.She also made it clear that she was not expecting a jump in the number, nor a decline.The Finance Minister was speaking at an award function of a private TV channel.

27 Feb

Australian Resources Delegation explores opportunities in Eastern India

editor0 CommentsBusiness

A 16 member Australian Resources delegation is currently in Kolkata as a part of Australia-India Business Exchange 2020 (AIB-X). The delegation is exploring collaboration opportunities with the Indian mining industry in Eastern India. Panel Discussion on India’s Mining Industry Coinciding with the visit of the Australian Resources delegation, a panel discussion titled “India’s mining industry – Targets, Reforms and Roadmaps” was organised in Kolkata today by the Australian Trade and Investment Commission (Austrade), Australian Government. The panel included business leaders from Indian industry associations, steel majors and other infrastructure experts, discussed the current scenario of the mining industry, national production…

24 Feb

Mukesh Ambani’s Big Revamp Of TV Business Before Potential Stake Sale

editor0 CommentsBusiness

Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, is merging its media and distribution businesses spread across multiple entities into Network18 Media & Investments Ltd. to help simplify the structure of the assets.The broadcasting business, TV18 Broadcast Ltd., will be housed in Network18, while the cable and internet services will be folded under two separate wholly owned units of Network18, Reliance Industries said in a statement late Monday.Under the recast, the share exchange ratio would be:92 shares of Network18 for every 100 shares of TV1878 shares of Network18 for every 100 shares of Hathway Cable & Datacom Ltd.191 shares…

24 Feb

Pay Hikes In India To Fall To Decade Low In 2020

editor0 CommentsBusiness

A new survey report on Tuesday said that India will see the lowest salary increase in a decade this year and even the real estate and transport sector -- the top national job generators -- will witness lowest pay hikes in 2020.The sharpest drop in pay hikes was projected in the auto sector, reflecting its stress; e-commerce sector was seen giving a double-digit pay hike -- among the highest across 20 sectors -- surveyed by on Plc, a human resource consultancy firm ."The vehicle manufacturing industry reported the biggest drop, from 10.1 per cent in 2018 to 8.3 per cent…

24 Feb

Sensex, Nifty End At Two-Week Lows; Telecom Stocks Plunge

editor0 CommentsBusiness

The S&P BSE Sensex and NSE Nifty 50 indexes fell for fourth day in a row to close at lowest level in two weeks on Tuesday weighed down by weakness in HDFC, Reliance Industries, Bharti Airtel, IndusInd Bank and Maruti Suzuki. Telecom shares were among the worst hit in trade a day after telecom firms Bharti Airtel and Vodafone Idea partly paid the adjusted gross revenue dues as directed by the Supreme Court. The Sensex fell as much as 445 points to hit an intraday low of 40,610.95 and the NSE Nifty 50 index broke its psychological important level of…

21 Feb

Budget 2020: Impact on the Indian economy

editor0 CommentsBusiness

Calcutta Chamber of Commerce take on union budget 2020 2021and its impact on economy.The guest of honor present was Shri Sumit Dutt Majumder Shri Gaurav Swarup CA Dipankar Chatterjee Shri Saurabh Kedia and Shri Rajeev Maheshwari . The main point of discussion were the whole excise is an opportunity for the government to unfold the economic policies for sustainable growth of economy. The budget has foccused on the ease of living when it is talked about . It has focussed on startup scheme , msme sector as well as on the new economy that focuses om Al quamtam technology alongwith…

19 Feb

EESL signs MoU with BSNL to install 1000 public charging stations across India

editor0 CommentsBusiness

Energy Efficiency Services Limited (EESL), a joint venture of four National Public Sector Enterprises under Ministry of Power, Government of India, has signed a Memorandum of Understanding (MoU) with Bharat Sanchar Nigam Limited (BSNL), an Indian state-owned telecommunications company for the installation of public charging stations to boost e-mobility adoption across India. Under the partnership, EESL will set up public charging stations in 1000 BSNL sites in a phased manner on a pan India basis. EESL will make the entire upfront investment on the services pertaining to the MoU, along with the operation and maintenance of the charging infrastructure by using qualified personnel.…