Marico eyes on boosting Saffola brand positioning
Sun, Jun 20, 2021 10:57 PM

Marico eyes on boosting Saffola brand positioning

Marico Industries working to nourish the positioning of its Saffola brand as a preventive, healthy lifestyle advocating food product, not just an edible oil, by bringing health and wellness products under the range, according to a senior company official. Marico has been on product offensive after the pandemic and has brought several new products under its Saffola brand such as honey etc.

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Demand recovery expected in second quarter this year: Trent chairman
Sun, Jun 20, 2021 9:34 PM

Demand recovery expected in second quarter this year: Trent chairman

Customer demand should rebound strongly, possibly from the second quarter onwards, said Trent chairman Noel N Tata, while staying "cautiously optimistic" on the medium-term outlook. With growth factors such as favorable demographics, increasing per capita and disposable income, and growing consumption, India is expected to return to a strong growth trajectory, despite uncertainty of third wave.

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Keventer Agro forays into frozen foods, tetra pack milk business
Sun, Jun 20, 2021 9:11 PM

Keventer Agro forays into frozen foods, tetra pack milk business

With growing demand for frozen foods during the pandemic, Keventer Agro on Sunday declared its plans to set up frozen foods and tetra pack milk businesses nationwide in the next two-three years. The Kolkata-based company targets 10% increase in turnover to Rs 11,000 crore in the current 2021-22 fiscal from Rs 10,000 crore in the previous fiscal, with much of the revenue expected from new business.

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EPFO recorded 13.73% hike in new enrolments during April
Sun, Jun 20, 2021 8:41 PM

EPFO recorded 13.73% hike in new enrolments during April

Retirement fund body Employees Provident Fund Organisation (EPFO) on June 20 posted 12.76 lakh net subscribers during April 2021. As per the provisional payroll data issued by EPFO, April 2021 registered a hike of 13.73% in net subscriber addition as compared to the previous month, during which around 11.22 lakh net subscribers were added to the payroll.

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New offer made on compensation dispute over Suez Canal blockage
Sun, Jun 20, 2021 8:40 PM

New offer made on compensation dispute over Suez Canal blockage

The owners of a container ship that blocked the Suez Canal in March put forward a new offer during a compensation dispute with the canal authority. The court ruling on the case was postponed for two weeks on Sunday to get more time for negotiations. The giant Evergreen container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29.

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DTPA specified 40 problems in the new e-filing portal; urged extension
Sun, Jun 20, 2021 8:29 PM

DTPA specified 40 problems in the new e-filing portal; urged extension

The Direct Taxes Professionals Associations (DTPA) says several tax professionals are facing problems or teething issues in the revamped Income Tax portal which was rolled out recently. The DTPA in a letter to Union Finance Minister Nirmala Sitharaman specified about 40 problems in the new income tax portal for filing of returns. The DTPA has also urged the Finance Minister to extend the deadline.

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Authum became the highest bidder for Reliance Home Finance
Sun, Jun 20, 2021 8:06 PM

Authum became the highest bidder for Reliance Home Finance

Authum Investment and Infrastructure Ltd came out as the highest bidder for Reliance Home Finance (RHF), an arm of the debt-ridden Anil Ambani promoted Reliance Group, with a Rs 2,900 crore offer. The lender, Bank of Baroda would receive Rs 2,587 crore or 90% upfront and the remaining Rs 300 crore within a year. The voting started on May 31 and settled on June 19 with 91% of lenders by value.

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Centrum-Bharatpe JV to invest Rs 1,800 cr into PMC on merger
Sun, Jun 20, 2021 7:18 PM

Centrum-Bharatpe JV to invest Rs 1,800 cr into PMC on merger

The joint venture streamed by Centrum Group and digital payments startup Bharatpe for publicizing a small finance bank will induce Rs 1,800 crore capital into crisis led Punjab & Maharashtra Cooperative Bank (PMC) on its merger with the proposed bank, a top Centrum official has said. Last Friday, the Reserve Bank gave in-principle approval to Centrum Financial Services.

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Godrej Properties emerged as the topper in sales bookings during FY21
Sun, Jun 20, 2021 7:08 PM

Godrej Properties emerged as the topper in sales bookings during FY21

Godrej Properties sales bookings during the last fiscal were at a record high, it has become the country's largest listed real estate developer in terms of sales. The company clocked a record pre-sales of Rs 6,725 crore despite the COVID pandemic. In terms of market capitalisation, Delhi-NCR based DLF remains the country's largest real estate developer with m-cap over Rs 70,000 crore.

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Bank of Maharashtra emerged as top performer among PSU banks in MSME loans
Sun, Jun 20, 2021 6:17 PM

Bank of Maharashtra emerged as top performer among PSU banks in MSME loans

State-owned Bank of Maharashtra (BoM) emerged as top performer among public sector lenders in terms of retail and MSME loan growth during 2020-21. The Pune-based lender recorded a 35% growth in MSME loans at Rs 23,133 crore in 2020-21, as per the BoM data. It was followed by the Chennai-based Indian Bank which posted a 15.22% growth in loan disbursal to MSMEs with Rs 70,180 crore loan.

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MSMEs with EM-II, UAM registrations offered extension till this year-end
Sun, Jun 20, 2021 6:11 PM

MSMEs with EM-II, UAM registrations offered extension till this year-end

Entrepreneur Memorandum – II or Udyog Aadhaar Memorandum (UAM) registrations procured by MSMEs before June 30, 2020, and valid till March 31, 2021, have been offered an extension till this year-end. The new registration portal Udyam Registration replaced the EM-II and UAM in July last year following the revised definition of MSME by the government.

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Sona Comstar, Shyam Metalics to begin their stock exchanges on 24 June
Sun, Jun 20, 2021 6:04 PM

Sona Comstar, Shyam Metalics to begin their stock exchanges on 24 June

Integrated metal producing firm Shyam Metalics and Energy & Auto component maker Sona BLW Precision Forgings who recently settled their IPOs, will begin their stock exchanges on June 24, merchant bankers said on Sunday. Following this, the equity shares of these companies will be listed on BSE and National Stock Exchange (NSE).

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Traders should be included in MSME definition; demands NBFC body
Sun, Jun 20, 2021 5:54 PM

Traders should be included in MSME definition; demands NBFC body

Finance Industry Development Council (FIDC), a representative body for assets and loan financing NBFCs serving to MSMEs, has requested MSME Minister Nitin Gadkari to include retail and wholesale trade in the list of activities allowed for registration as MSME. The suggestion was part of the proposal made to the minister by the industry body earlier this week to improve credit flow of MSMEs.

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Market demand backed by rapid digitization in India, overseas
Sun, Jun 20, 2021 5:48 PM

Market demand backed by rapid digitization in India, overseas

Sterlite Technologies, the digital network integrator commented on rapid digitization is supporting demand for solutions, both in India and overseas, despite the COVID pandemic. The company's CEO Anand Agarwal said running operations in the backdrop of pandemic gives the confidence that processes have been strengthened to the extent that it is now prepared to navigate through any situation.

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Centre denied to pay Rs 4 lakh ex-gratia to COVID-19 victims
Sun, Jun 20, 2021 5:35 PM

Centre denied to pay Rs 4 lakh ex-gratia to COVID-19 victims

The Centre denied the Supreme Court to pay ex-gratia compensation of Rs 4 lakh to the families of those who succumbed to COVID-19 as it is beyond fiscal affordability. The finances of central and state governments are also under severe strain. In an affidavit presented before the top court, the Ministry of Home Affairs said the Centre has taken several other measures to help the needy citizen.

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