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IMF predicts India’s GDP at 7.5 per cent in 2019-20

Friday, 10 Aug 2018 | PTI | New York

India’s GDP is poised to grow by 7.3 per cent in the 2018-19 fiscal and 7.5 per cent in 2019-2020 on strengthening of investment and robust private consumption, the IMF said in its latest projection. The International Monetary Fund (IMF), in the report published on Tuesday, said the near-term macroeconomic outlook...

JSPL Q1 net profit at Rs 110 cr

Friday, 10 Aug 2018 | PNS | New Delhi

Jindal Steel and Power Limited (JSPL) on Thursday announced its Q1 2018-19 results reporting a consolidated revenue of Rs 9,665 crore and a Consolidated Net Profit of Rs 110 crore. On a standalone basis, JSPL recorded quarterly revenues of Rs 6,734 crore and net profit of Rs 332 crore. Adjusted...

Flipkart to expand e-grocery store to 5-6 Indian cities by year-end

Friday, 10 Aug 2018 | PTI | New Delhi

E-commerce major Flipkart plans to expand its online grocery service ‘Supermart’ to 5-6 major Indian cities by the end of the year as it takes head-on players like Alibaba-backed BigBasket and SoftBank-funded Grofers as well as rival Amazon India. The company plans to expand the service, which currently covers all major...

IKEA opens first India store

Friday, 10 Aug 2018 | PTI | Hyderabad

Swedish home furnishings major IKEA on Thursday opened its first store in India, kicking off its retail journey five years after it received approval to invest in the country’s single-brand retail sector. The company, which has employed 950 people directly and another 1,500 indirectly at its store here,...

AstraZeneca gets nod to import, market cancer drug

Friday, 10 Aug 2018 | PTI | New Delhi

AstraZeneca Pharma India on Thursday said it had received import and market permission from the Drug Controller General of India (DCGI) for Osimertinib (Tagrisso) tablets, prescribed as first-line treatment for certain kinds of lung cancer. AstraZeneca Pharma said approval had been granted for the product in the strengths of 40 mg...

PNB Housing Finance net profit jumps 50% to Rs 256 cr in Q1

Friday, 10 Aug 2018 | PTI | New Delhi

PNB Housing Finance on Thursday reported a jump of 50% in its net profit at Rs 255.80 crore in first quarter of the current fiscal on healthy loan disbursements. The company had reported a net profit of Rs 170.10 crore in the similar April-June period of 2017-18. Total income during the quarter...

India Post Payments Bank to offer financial products

Thursday, 09 Aug 2018 | PTI | New Delhi

India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers. “India Post Payments Bank will offer loans, mutual funds and insurance through third party tie-ups. It will sell some of Punjab National Bank products, including loans. It has...

Sensex, Nifty surge to record highs

Thursday, 09 Aug 2018 | PTI | Mumbai

Benchmarks ended at fresh lifetime highs on Wednesday, powered by a rally in market heavyweight RIL and banking stocks amid mixed global cues. The BSE Sensex vaulted 221.76 points to close at 37,887.56, while the broader NSE Nifty advanced 60.55 points to finish above the 11,400-mark for the first time. RIL, SBI,...

Look at hardships of exporters trading with Iran: FIEO tells Govt

Thursday, 09 Aug 2018 | PTI | New Delhi

The Government needs to look into the problems being faced by exporters shipping consignments to Iran in view of the increasing threat of US economic sanctions against the Persian Gulf nation, FIEO said on Wednesday. Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said that the rupee account currently used...

IOC signs up US crude in 1st ever term-tender deal

Thursday, 09 Aug 2018 | PTI | New Delhi

Less than a year after first oil from the US was imported into India, state-owned Indian Oil Corp (IOC) has signed up to buy crude oil from the US through a term-tender deal, a senior company official said. IOC has signed a contract to buy about 6 million barrels of US...


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K’taka CM plants paddy saplings in solidarity with agriculturists

12 Aug 2018 | Kestur Vasuki | Bengaluru

Karnataka Chief Minister HD Kumaraswamy who is facing wrath from the farmers in the State, in an appealing gesture planted paddy saplings in solidarity on Saturday. He chose Aralukuppe village in Mandya district the heart land of vokkaliga politics sowed paddy saplings in a muddied agriculture field amidst a large gathering...

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Cooperation of all necessary to achieve target: Ramsheela Sahu

15 Aug 2018 | Staff Reporter | Raipur

State of Chhattisgarh is moving faster from malnutrition to normal. But on the path, to achieve the target cooperation of all is required, said women and child development minister Ramsheela Sahu...

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