Kolkata: State-run Allahabad Bank is looking to raise around Rs 500-600 crore capital in the next fiscal through dilution in a stake of its joint venture insurance company and also by selling non-core assets, an official said on Friday. This comes close on the heels of it’s coming out from[Read More…]
business
BSNL Finance Director Sujata Ray replaced amid financial crisis
New Delhi: Amidst the acute financial crisis at BSNL, the Department of Telecom (DoT) has handed over the responsibility of the Finance Director at the cash-strapped PSU to current Director Mobile as well as fixed line, Vivek Banzal divesting the charge from Sujata Ray. Official sources said Banzal, who is[Read More…]
Coca-Cola produces 3 mn tonnes of plastic packaging
Washington: Soft-drinks giant Coca-Cola has revealed for the first time that it produces 3 million tonnes of plastic packaging a year, which is equivalent to 200,000 bottles a minute, a report said on Thursday. The data was provided to campaigner Ellen MacArthur, who is pushing for major companies and governments[Read More…]
PVR, BookMyShow in legal trouble for charging costumers ‘internet handling fees’; hearing on March 23
In an RTI filed by Vijay Gopal to the Reserve bank of India, it was revealed that the ticketing service providers PVR and BookMyShow do not have any authority to levy handling fees on customers and that they are in violation of the RBI’s Merchant Discount Rate (MDR) regulations. An MDR is[Read More…]
Wipro chairman Azim Premji has now committed $21 billion to philanthropy
Bengaluru: India’s IT czar and Wipro Chairman Azim Premji has earmarked 34 per cent of Wipro Ltd shares worth Rs 52,750 crore ($7.5 billion) for his philanthropic activities, a statement said on Wednesday. “Azim Premji has increased his commitment to philanthropy, by irrevocably renouncing more of his personal assets and[Read More…]
Sensex surges 280 points, Nifty crosses 11,250
Mumbai: The key Indian equity indices opened on a positive note on Tuesday with the BSE Sensex trading around 280 points higher and Nifty crossing 11,250. The domestic market tracked a similar trend in the major Asian indices. Healthy buying in the power, energy and consumer durable stocks also supported[Read More…]
Modicare launches 11 new wide range of consumer care products
New Delhi: Direct selling company Modicare on Monday launched 11 new products in various segments, including food, skin and personal care, the company said. The products launched were in the price range of Rs 31 to Rs 1,699, it said. “Modicare Limited expanded its food, personal, skin and baby care products[Read More…]
Sensex, Nifty surge over 1%; PSU Banks, metal stocks gain
New Delhi: Markets rallied on Monday following the announcement of Lok Sabha election schedule and a largely positive global markets. Sensex and Nifty surged over 1 per cent as buying interest was seen across all sectors. Analysts said that the investor sentiment was upbeat after the declaration of the election[Read More…]
From tribal hamlets to world markets: The amazing journey of Araku coffee
Offering double wages to farmers growing dark red cherries, it motivated them to strive for the best quality.
Chanda Kochhar, Videocon Chief Venugopal Dhoot’s homes searched by ED
The homes and offices of former ICICI Bank chief executive Chanda Kochhar and the managing director of Videocon Venugopal Dhoot were searched on Friday by the Enforcement Directorate regarding a loan case. The Central Bureau of Investigation (CBI) had earlier issued a look-out circular against Ms Kochhar. Look-out circulars are[Read More…]
