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Isro to launch slew of military satellites soon
Posted on 23rd April 2018
NEW DELHI: Amid preparations for its high-profile Rs 800 crore Chandrayaan-2 mission scheduled for an October launch, Indian Space Research Organisation (Isro) is also gearing up to launch a slew of important satellites in the coming months. Some of these satellites are significant for strategic reasons as they will help the military keep an eye on our hostile neighbours and safeguard our land and sea borders.

ICICI Bank may face probe over non-disclosures in NuPower deal
Posted on 23rd April 2018
Probe agencies are examining if ICICI Bank should have declared three companies — Pacific Capital Services; Supreme Energy Private Ltd (SEPL) and Pinnacle Energy — as related parties. These companies were involved in transfers of shareholdings in NuPower Renewables Private Limited (NRPL), a company owned by Deepak Kochhar, husband of Chanda Kochhar, the bank’s CEO.

TCS becomes first listed Indian co to hit $100-bn m-cap
Posted on 23rd April 2018
Shares of Tata Consultancy Services (TCS) today surged over 4 per cent, following which the IT major became the first listed Indian company to hit market capitalisation of over USD 100 billion (Rs 6,80,912.10 crore).

Shares of the company today opened at Rs 3,429, rising 4.39 per cent to touch an intra-day high of Rs 3,557 on BSE. Following the uptick in the counter, the market capitalisation of the company swelled to Rs 6,80,912.10 crore.


Amazon's next big plan for India: To deliver 'all you need' in 2 hours
Posted on 23rd April 2018
Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and foray into areas such as fresh produce.

Amit Agarwal, the India head of Amazon, said in an interview on Friday that groceries and goods such as creams, soaps and cleaning products, were already the largest product category on Amazon in terms of number of units sold in India.


Battle for Essar Steel: JSW plans to go solo if fresh bids are allowed
Posted on 23rd April 2018
JSW Steel may go it alone as the committee of creditors (CoC) for Essar Steel decides to consider a fresh round of bids altogether.

JSW Steel is pointing towards a part of the NCLT order, which was uploaded on Saturday, which says “in the option no. 1, it has been suggested to initiate a new process for inviting bids from all interested parties (starting with initiation of new expression of interest) and follow the entire process as per new request for proposal as approved by the CoC,


Modi government to allow holding company structure for Air India
Posted on 23rd April 2018
A new owner of Air India will be allowed to operate the airline under a holding company. The entity will also be permitted to co-opt its existing airline brands under the holding company to build synergy.

This, the government believes, will allay concerns of potential suitors about the bidding condition, which mandates operating Air India at arm’s length for three years.


Sebi proposed as regulator for spot commodity exchanges for gold, metals
Posted on 23rd April 2018
Spot commodity exchanges for gold, metals and even energy products like natural gas could see the light of day under the Securities and Exchange Board of India (Sebi) as the regulator.

This has been recommended by a committee on the subject. It was appointed by the finance ministry under NITI Aayog member Ramesh Chand. The panel also suggests the “existing institutional infrastructure of commodity exchanges may also be utilised, to the extent possible, to create a spot exchange for commodities”.


Audit clears Facebook despite Cambridge Analytica leaks
Posted on 21st April 2018
An audit of Facebook’s privacy practices for the Federal Trade Commission found no problems even though the company knew at the time that a data-mining firm improperly obtained private data from millions of users — raising questions about the usefulness of such audits. Facebook agreed to outside audits every two years as part of a 2011 settlement with the FTC over its privacy practices.

HDFC Bank Q4 net profit rises 20% to Rs4,799 crore
Posted on 21st April 2018
Mumbai: HDFC Bank Ltd on Saturday said its fourth quarter net profit rose 20.28% on the back of higher net interest income and other income.

The bank posted a net profit Rs4,799.28 crore for the three months ended 31 March compared to Rs3,990.09 crore in the year-ago period. Profit was lower than Rs4,858.9 crore estimated by a Bloomberg poll of 22 analysts.


L&T sells Bengaluru land parcel to Phoenix-CPPIB platform for Rs650 crore
Posted on 21st April 2018
Bengaluru: Island Star Mall Developers Pvt. Ltd, a strategic investment alliance by Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB) has acquired a land parcel in Hebbal, north Bengaluru for Rs650 crore from L&T Construction Equipment Ltd.

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