Industry News, Company News, Manufacturing News, Service Sector - The Hindu

SFL Q3 net profit rises 45% on business revival

Special Correspondent Board declares ₹12 interim dividend

5hrs

‘PSUs playing a role in farm sector will be not be sold’

Vikas Dhoot Govt. lists firms that will stay outside purview of divestment

6hrs

State Bank of India (SBI) reported a 6.9% decline in net profit to ₹5,196 crore for the third quarter ended December, from a year earlier.

SBI Q3 net profit declines 6.9% to ₹5,196 crore on provisioning

Special Correspondent Net interest income climbs 3.75%, provisioning increases to ₹10,342 crore

Arathi Krishna.

Sundram Fasteners profit climbs to record ₹124 crore

Special Correspondent Precision parts maker plans to return annual capex to pre-COVID level of ₹300 cr. as volumes recover

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SFL Q3 net profit rises 45% on business revival

‘PSUs playing a role in farm sector will be not be sold’

Lockheed Martin inks pact with HAL to explore industrial opportunities

Lowering of interest rates must have helped exporters: EEPC India

Hero MotoCorp Q3 consolidated PAT up 14% at ₹1,029 crore

Mahindra & Mahindra Q3 consolidated PAT down 6% at ₹ 159.6 crore

PayPal to shut domestic payments business in India

PayPal Holdings Inc will wind down its domestic payments business in India from April 1, the company said in a statement on Friday.California-based

BookMyShow enters video streaming

Ticket booking platform BookMyShow has announced its entry into on-demand video streaming with BookMyShow Stream offering 600 movie titles and 72,000

Sundram Fasteners profit climbs to record ₹124 crore

Precision parts maker plans to return annual capex to pre-COVID level of ₹300 cr. as volumes recover

McKinsey to fix opioid probe for $573 mn

McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. States over its alleged role in

Boeing announces tie-up for P-8I patrol, IAF VIP aircraft

It leads to faster turnaround, exceptional operational capability and mission readiness, it says

Petrol, diesel price at fresh high; oil co says only tax cut by government can help

The increase took petrol prices to a fresh high of ₹ 86.65 a litre in Delhi and to ₹ 93.20 in Mumbai. Diesel rates touched ₹ 76.83 in Mumbai and an all-time high of ₹ 83.67.

GAIL bifurcation plan put on hold; company to monetise pipelines through InvIT

The Oil Ministry has put on hold a plan to bifurcate state-owned gas utility GAIL (India) Ltd so as not to dilute the firm's ability to finance the

SBI Q3 net profit declines 6.9% to ₹5,196 crore on provisioning

Net interest income climbs 3.75%, provisioning increases to ₹10,342 crore

SEBI ban on Kishore Biyani, others won’t impact deal with Reliance: Future Retail

In a separate statement, Future Corporate Resources Pvt. Ltd. (FCRPL) said the SEBI order “has taken care to exclude dealings in securities under any impending Scheme of Arrangement”

Airbus signs MoU with GMR Group to collaborate on aviation services in India

MoU between Airbus and GMR Group was signed at Aero India 2021 in Bengaluru

RIL arm inks pact to sell upstream assets in U.S.

It will divest all of its interest in certain upstream assets in the Marcellus shale play of south-western Pennsylvania.

Small tax disputes account for substantial pendency, says CBDT chairperson Mody

₹95,000-cr. disputes resolved in larger scheme: CBDT head

Amazon CEO Jeff Bezos may step down without stepping away

Analysts said Jeff Bezos appears to have picked a successor who’s up for the challenge

Bharti returns to black with ₹854 cr. Q3 net profit

‘Telco added 13 million 4G subscribers’

BEL makes modules for radar on Rafales

Modules produced in India are integrated with RBE2 radar in France

Future Retail moves HC against order to maintain status quo on deal with Reliance

Kishore Biyani-led Future Retail Ltd. (FRL) moved the Delhi High Court on February 3 against its single judge order directing the company to maintain

Volkswagen plans to challenge Google with own autonomous car software

Volkswagen and Daimler are working on their own operating systems for autonomous cars to make sure they have a chance to compete with large tech firms such as Apple and Amazon in the area of electric vehicle data.

Volkswagen looks at direct buying to secure scarce chips

Volkswagen, which warned as early as Dec. 4 about the problem, currently sources chips via major suppliers such as Bosch and Continental and has no direct contractual or supply agreements with semiconductor makers.

Kerala should emerge as global green business hub, says Anand Mahindra

The Chairman of the Mahindra group called on the State ‘to think big’ at a special industries session organised as part of Kerala Looks Ahead, an international web-based conference.

Amazon’s Bezos to step down as CEO; Andy Jassy to take over the role

The transition, slated for the third quarter, will make current cloud computing chief Andy Jassy Amazon’s next chief executive officer.

Carlyle, Brighton Park to invest $200 mn in Bengaluru firm, Indegene

Indegene had made significant organic and inorganic investments in building a technology portfolio that caters exclusively to healthcare.

IOB, 2 others may exit PCA by March: Panda

‘Their financial health has improved’

HDFC logs ₹2,926 crore third-quarter net profit

CEO sees strong housing loan demand

Farm infrastructure is the need of the hour: Finance Secretary

‘Need earmarked resources, certainty over a period for a sustained infra programme, agri cess will help raise sector’s productivity, says Pandey

Delhi HC directs Future Retail to maintain status quo on deal with Reliance

Justice J.R. Midha said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon

BPCL, Air India stake sale by Sept; LIC IPO post Oct: DIPAM Secy

The initial public offering (IPO) of India's largest insurance company LIC is likely after October this year, a top official said on Tuesday laying

RBI appoints external firm to audit HDFC Bank’s IT infrastructure

HDFC Bank on Tuesday said the Reserve Bank of India (RBI) has appointed an external IT firm for carrying out a special audit of its IT infrastructure

States allowed 4% extra borrowing of GSDP

States’ share of taxes to stay at 41% as per Finance panel advice

India Inc. hails Budget; tourism, telecom sectors disappointed

Does not address concerns over inequitable growth, say experts

Union Budget 2021 | Govt. budgets ₹1.75 lakh cr. from stake sale

Four sectors to be strategic sectors

Union Budget 2021 | Govt. plots fiscal deficit reduction from 9.5% in FY21 to 4.5% by FY26

Depends on tax buoyancy, asset monetisation, divestment

Union Budget 2021 | Annual ULIP premium over ₹2.5 lakh to be taxed

Hike in FDI in insurance sector to increase capital inflows: experts

Union Budget 2021 | Tax sops for aircraft leasing in India

Industry welcomes move

Union Budget 2021 | Automotive sector welcomes vehicle scrappage policy

Industry leaders expect it to boost demand for new vehicles, help environment

Budget 2021 | A.C. and refrigerator to be costlier; gold and silver to be cheaper

However, gold and silver will become cheaper as a result of rationalisation in customs duty on imports of these precious metals.

Chip sales rose 6.5% globally in 2020 after year-end rush

While U.S.-based companies represented nearly half of semiconductor sales, they represented only about 12% of chip manufacturing capacity in 2020. That is down from 37% in 1990, as most U.S. companies now source their chips from factories in Asia.

Moody's expresses doubts on higher revenue targets from tax, divestment

The Budget highlights the challenges to stabilising the debt trajectory following the pandemic-induced shocks.

15th Fin Comm keeps tax devolution to states at 42%, suggests fiscal deficit glide path

The panel had in November last year submitted its report titled "Finance Commission in Covid Times" to President Ram Nath Kovind.

Dept of Space allocated ₹ 13,949 crore in budget, ₹ 4,449 crore more than last fiscal

This is nearly ₹ 900 crore more than what was allocated in 2019-20.

Budget 2021 | Income tax slabs remain unchanged

Senior citizens above 75 years with pension and interest income exempted from filing return.

Govt proposes ₹ 20,000-crore recapitalisation for PSBs in 2021-22

The government refrained from committing any capital for the PSBs in the Budget 2020-21.

Union Budget 2021 | Govt slashes revenue expectation from telecom sector; pegs receipts at ₹53,986 crore

The government has lowered revenue estimates from the telecom sector while pegging expected receipts at ₹53,986 crore in the next financial year,

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