Business

Translating… The story so far: In July, the sale of vehicles across categories in the country slumped 18.71% to about 18.25 lakh units, down from about 22.45 lakh units, a year ago in the same month. This has been the steepest fall in nearly 19 years. This data, by the Society of Indian Automobile Manufacturers (SIAM), gives out wholesale figures — i.e. the number of vehicles despatched to dealers by vehicle manufacturers. The pasenger vehicle…

Translating…   Sat, Aug 17 2019 09:43:26 PM Chennai, Aug 17 (IANS): India’s second largest car maker, Hyundai Motor India Ltd (HMIL) has declared “no production days” this month for some of its production departments owing to tough market conditions for the automobile sector. The company, in a notification to its workers this month, said that due to prevailing market conditions, there will be no production days in its Engine Shop-1 between August 9-21 (10…

Translating… Zomato Founder Deepinder Goyal took to Twitter on Saturday evening to respond to the Logout movement by the National Restaurant Association of India (NRAI), which saw nearly 300 restaurants in Gurugram de-listing themselves from platforms such as Zomato Gold, EazyDiner, and Dineout’s Gourmet Passport, among others, over deep discounting practices. Meanwhile, restaurants under the NRAI in Delhi and Mumbai have also threatened to de-list from online dining platforms. According to NRAI president Rahul Singh,…

Translating… The order involves provisional attachment of the property of the wire ropes business for 180 days. ET Bureau| Aug 17, 2019, 08.13 PM IST BCCL Usha Martin said it does not agree with the ED order and was seeking opinion for appropriate legal action to contest it. KOLKATA: The Enforcement Directorate has issued an order attaching Rs 190 crore worth of immovable assets of the wire ropes business of Usha Martin Ltd (UML) at…

Translating… Last Updated : Aug 17, 2019 08:04 PM IST | Source: Moneycontrol.com The company debt as on July 31, 2019 was Rs 4,970 crore. Going by the assets and its valuations listed in the purported letter written by VG Siddhartha before his death on July 27, the assets are worth Rs 18,000 crore. The sale of Coffee Day Enterprises (CDEL) tech park to Blackstone is expected to reduce the company’s debt to Rs 1,000 crore, according to…

Translating… Renault Triber can been booked both online, on the company’s official website, or at any authorised Renault showroom across India for a token of Rs. 11,000. | Published: Aug 17, 2019 07:14 PM View Photos The Renault Triber 7-seater will be launched in India on August 28, 2019 Bookings for the upcoming Renault Triber have officially commenced in India from today. Customers can book the new Renault Triber both online, on the company’s official…

Translating… Mumbai: India has initiated a probe into whether a jump in refined palm oil shipments from Malaysia is causing serious injury to domestic industry, the trade ministry’s investigative arm said in a statement. Malaysian exports of refined palm oil to India, the world’s biggest importer of edible oils, jumped 727% in the first half of 2019 to 1.57 million tonnes compared with the same period a year before, according to data compiled by the…

Translating… Last Updated : Aug 17, 2019 06:07 PM IST | Source: PTI In a regulatory filing, Cipla said 99.68 percent shareholders polled in favour of the resolution to raise funds. Drug major Cipla on August 17 said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares. In a regulatory filing, Cipla said 99.68 percent shareholders polled in favour…

Translating… New Delhi: Jet Airways (India) Ltd has not been able to start preparing its June quarter results as it did not have access to the financial data, the grounded airline said on Friday. “…I would like to mention that prior to commencement of the corporate insolvency resolution process (CRIP), directors, CEO (chief executive officer), CFO (chief financial officer), CS (company secretary), including other top management personnel had resigned from the company. Further, access to…

Translating… According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level. Finance Minister Nirmala Sitharaman The finance ministry has asked public sector banks (PSBs) to initiate a month-long consultation process with officers starting from branch level to seek suggestions for achieving a USD 5-trillion economy in…