Trai grants Voda Idea time till September 8 to respond to show cause notice
Sun, Sep 6, 2020 4:22 PM

Trai grants Voda Idea time till September 8 to respond to show cause notice

Telecom regulator Trai has granted additional time, till September 8, to Vodafone Idea to reply to its show-cause notice on priority plan, after the company sought more time to respond. The Telecom Regulatory Authority of India (Trai) last month had slapped a show-cause notice on Vodafone Idea Ltd (VIL) over its pay-more-for-priority treatment mobile plan for lack of transparency.

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PVR defers capex plans to control costs amid COVID-19 disruptions
Sun, Sep 6, 2020 4:18 PM

PVR defers capex plans to control costs amid COVID-19 disruptions

Multiplex major PVR has deferred its capital expenditure plans in a bid to control costs as the company braces for a significant impact on its profitability in the current fiscal due to the ongoing COVID-19 pandemic. Cinema halls in India have remained shut since March this year, after the government imposed nationwide lockdown to check the spread of COVID-19.

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Happiest Minds Technologies trades at over 60% premium in grey market
Sun, Sep 6, 2020 3:18 PM

Happiest Minds Technologies trades at over 60% premium in grey market

IT services provider Happiest Minds Technologies is trading at more than 60% premium over issue price in the grey market ahead of its initial public offering. Veteran Ashok Soota-owned firm will open its Rs 702-crore IPO for 3-day bidding on September 7. The grey market premium is currently at around Rs 105-110 per share, i.e. 63-66% higher compared to issue price of 165-166 per share.

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FPIs turn net sellers in September so far, pull out Rs 900 cr
Sun, Sep 6, 2020 3:13 PM

FPIs turn net sellers in September so far, pull out Rs 900 cr

New Delhi: Overseas investors pulled out Rs 900 crore on net basis from Indian markets in the first four trading sessions of this month as weak economic data and India-China border tensions hit market sentiment. Depositories data showed that foreign portfolio investors (FPI) pulled out Rs 675 crore from equities and Rs 225 crore from the debt segment on net basis between September 1-4.

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Hinduja Global Solutions Q1 net profit up 21.7% at Rs 49.2 crore
Sun, Sep 6, 2020 3:10 PM

Hinduja Global Solutions Q1 net profit up 21.7% at Rs 49.2 crore

Hinduja Global Solutions (HGS) has registered a 21.7 percent rise in consolidated net profit at Rs 49.2 crore for the quarter ended June 2020. The Hinduja Group firm had registered a net profit of Rs 40.4 crore in April-June 2019, HGS said in a filing on Saturday night.

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Govt mulls installing EV charging kiosks at around 69,000 petrol pumps
Sun, Sep 6, 2020 3:09 PM

Govt mulls installing EV charging kiosks at around 69,000 petrol pumps

The government is mulling setting up at least one electric vehicle (EV) charging kiosk each at nearly 69,000 petrol pumps across the country to induce people to go for electric mobility. Besides, the government is also thinking of making it compulsory to install EV charging kiosks at all Company-Owned, Company-Operated (COCO) petrol pumps of state refiners.

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Silver Lake eyes $1 billion stake in Reliance Retail
Sun, Sep 6, 2020 6:51 AM

Silver Lake eyes $1 billion stake in Reliance Retail

After acquiring a piece of Jio Platforms, American private equity investor Silver Lake Partners is in discussions with Reliance Industries (RIL) to buy a stake in its retail arm. Silver Lake is looking to invest $1 billion (about Rs 7,350 crore) in Reliance Retail, according to the Financial Times. The investment could give Silver Lake a 1.75% stake in Reliance Retail.

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Haryana to focus on aviation as thrust sector in new industrial policy
Sun, Sep 6, 2020 2:33 AM

Haryana to focus on aviation as thrust sector in new industrial policy

Haryana will be the first state in the country to focus on aerospace and aviation as a thrust-sector in its new industrial policy, Deputy Chief Minister Dushyant Chautala said on Saturday. Chautala held a meeting with officers of various departments here regarding Haryana Enterprises Promotion Policy-2020, according to a government release here.

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Tata Motors MD calls for collaboration among stakeholders
Sat, Sep 5, 2020 11:01 PM

Tata Motors MD calls for collaboration among stakeholders

Calling for a collaborative approach among stakeholders, Tata Motors MD and CEO Guenter Butschek on September 5 said, "Now that we are in the restart phase, new challenges like growing virus cases and acute shortage of labour have come up. The end of the lockdown doesn't necessarily mean that we are post-COVID because it is still there, it can possibly create more intermittent disruptions. "

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FlipItClassroom - Introduction to Derivatives
Sat, Sep 5, 2020 8:59 PM

FlipItClassroom - Introduction to Derivatives

The derivative is a powerful financial instrument, the value of which remains dependent upon another underlying asset. It helps in hedging risk, stabilise the market, and acts as a speculating tool. Different types of financial derivatives include futures, forwards, swaps, and options. You can either trade them through exchanges or over-the-counter. Keep reading...

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India's commitment to reform being taken seriously by foreign investors
Sat, Sep 5, 2020 8:16 PM

India's commitment to reform being taken seriously by foreign investors

Finance Minister Nirmala Sitharaman on Saturday said India’s commitment to reform is being taken seriously by foreign investors, which is evident from the good inflow of FDI even during the time of COVID-19. Between April-July, the Foreign Direct investment (FDI) into India stood at $20 billion.

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Ease of doing business ranking: Andhra Pradesh tops again
Sat, Sep 5, 2020 6:31 PM

Ease of doing business ranking: Andhra Pradesh tops again

The government on Saturday released ‘ease of doing business’ ranking for states and union territories for 2019 in which Andhra Pradesh retained top spot. Uttar Pradesh and Telanagan bagged the second and third positions respectively, according to a report released by Finance Minister Nirmala Sitharaman which took into account the implementation of the business reform action plans in the process.

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Subscribe Happiest Minds IPO - KR Choksey, Choice Equity Broking & HEM Sec
Sat, Sep 5, 2020 5:49 PM

Subscribe Happiest Minds IPO - KR Choksey, Choice Equity Broking & HEM Sec

Happiest Minds Technologies Ltd. (HMTL), is planning to raise up to Rs. 7,000mn through an IPO, which will open on 07th Sept. and close on 09th Sept. 2020. The price band is Rs. 165 - 166 per share. Given HMT’s growth profile and >97% digital revenue share, the company can comfortably command a PE of 24x-25x, which makes the IPO valuation fairly attractive for long term investors.

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As food deliveries boom, so do ghost kitchens
Sat, Sep 5, 2020 5:27 PM

As food deliveries boom, so do ghost kitchens

Since the pandemic began, many restaurants have pivoted to providing takeout & delivery. It’s a move that shows no signs of diminishing, even as they reopen for dining. To accommodate this increased demand, they are depending more and more on various types of off-premises kitchens. Several companies are counting on this so-called ghost kitchens — off-site meal-preparation facilities.

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Happiest Minds garners Rs 316 crore from 25 anchor investors ahead of IPO
Sat, Sep 5, 2020 3:04 PM

Happiest Minds garners Rs 316 crore from 25 anchor investors ahead of IPO

Smallcap IT company Happiest Minds Technologies on September 4 has raised Rs 315.90 crore from 25 anchor investors, ahead of its IPO scheduled to open next week. "The fund raising committee and selling shareholders in consultation with book running lead managers have finalised allocation of 1,90,30,541 equity shares to anchor investors," company said in its BSE circular.

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