The Economic Times
an hour
The Economic Times
an hour
NEW DELHI: After SpiceJet on Wednesday announced flat fares of Rs 777 on the domestic sector to woo more flyers in the lean season, Indigo too came out with a similar offer. Indigo, the country's biggest airline, has announced 'See something new at Rs 777' offer. The all-inclusive fare of Rs 777 is applicable for booking tickets till 25 February for travel till 27 April. This offer is valid on select sectors and select flights only. The lowest fare is available on Agartala-Guwahati and Srinagar-Chandigarh flights. Another low-fare offer is for Chennai-Hyderabad flight at Rs 999. The offer is valid on bookings made 19 days prior to travel. Indigo has a limited inventory available for this offer and these fares are non-refundable. In case of cancellation, only statutory taxes will be refunded.
The Economic Times
an hour
The Economic Times
3 hours
NEW DELHI: For India Inc, December quarter was marked by the government move to demonetise high-value currency notes. But the quarterly earnings that have come in so far – 22 per cent YoY growth in adjusted profits for the BSE500 companiessuggests the market was factoring in the worst- case scenario. Company managements, too, have sounded positive after the quarterly results and broadly their view has been that they are over with the pain of demonetisation. However, analysts noted that even though the setback was short term, a decent visible recovery from there on will be difficult, which could disappoint Dalal Street investors going ahead. Brokerage Edelweiss Securities in a note said the growth in Nifty’s earnings per share stood at 3 per cent in the first three quarters of FY17 against 8 per cent growth forecast for the full year. “This implies we need 25 per cent earnings growth in Q4 of FY17.
The Economic Times
3 hours
NEW DELHI: The S&P BSE Largecap index rose to an all-time high of 3,501 earlier this week, but the S&P BSE Sensex is still 100 points away from its 52-week high level. The S&P BSE Largecap index has gained nearly 10 per cent so far in 2017 compared with an 8 per cent rally in the S&P BSE Sensex. On a yearly basis, the S&P BSE Largecap index has risen about 27 per cent, led by gains in shares of Vedanta, Hindalco, Cairn India, Yes Bank and IOC, which have more than doubled investor wealth during this period. Shares of Vedanta rallied 258 per cent in last 12 months, followed by Hindalco Industries, which has risen 164 per cent, while Cairn India gained 127 per cent, Yes Bank 110 per cent and IOC 114 per cent. “We are veering a little more towards the largecaps and that balance has started shifting over the past three months,” Taher Badshah, CIO (Equities), Invesco Mutual Fund, said in an interview with ET NOW.
The Economic Times
3 hours
NEW DELHI: German auto major Volkswagen on Thursday said it will launch sports utility vehicle Tiguan and premium sedan Passat today in India in 2017. The company had commenced its product offensive with the launch of the made-in-India, made-for-India Ameo in 2016 and recent introduction of the GTI. Michael Mayer, Director, Volkswagen Passenger Cars India said, "2017 marks 10 years for Volkswagen in India and at this opportune moment, we reiterate our commitment with a strong product line-up aimed at fostering our growth momentum in the country. With the successful launch of the Ameo and introduction of GTI recently, Volkswagen marked its presence in the Compact Sedan and Performance car segment. With exciting new products across the segments, we are now ready to enter the SUV segment with Tiguan and luxury segment with the all new Passat. The slew of launches will ensure every car buyer finds a car to meet their requirements at our showrooms."
The Economic Times
3 hours
The Economic Times
3 hours
Daily Mail - India
12 hours
The Economic Times
15 hours
NEW DELHI: Lack of replacements for the retiring members in the past one and a half years has left Petroleum and Natural Gas Regulatory Board (PNGRB), the nation’s downstream regulator, with just one member, making the board dysfunctional that can potentially delay the latest round of award of rights to build pipeline in eight districts. The board, formed under an Act of 2006, comprises a chairperson, a member (legal) and three other members appointed by the central government. Chairperson S Krishnan retired in August 2015 while three other members—PK Bishnoi, Kiran Kumar Jha and Subhash Chandra Batra (member-legal) —have retired in the past six months. Basudev Mohanty is the only serving member on the board now. The board decides by a majority and its decisions dont become invalid due to any vacancy, according to the Act. But since the quorum requires three members, the board can’t meet and decide on anything.
The Economic Times
15 hours
NEW DELHI: India’s policy think-tank, Niti Aayog, will soon rank states on the basis of energy efficiency, a move which will help India achieve its international commitment of lowering energy consumption. This will be sixth in a series of indices which the Niti Aayog had introduced for states over the past two years –– the others being health, education, water management, agricultural reforms and digital transaction. A senior government official told ET that the Aayog is now contemplating to rank states on the basis of how efficiently they consume energy. The initial rounds of discussions have already taken place. The first such ranking, to be called the State Energy Efficiency Scorecard, would be in place only by the middle of this year. This annual exercise will motivate states to compete for the top slot by significantly improving their energy efficiency.
The Economic Times
17 hours
NEW DELHI: Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organisation, but declined to specify the exact number of employees affected by the decision, as the company looks to turn around its fortunes after a dismal 12 months. "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers. We have realigned our resources and teams to further these goals and drive high-quality business growth," an official release stated. Separately, in an internal email sent to employees, which was accessed by ET, the SoftBank, Foxconn and Alibaba Group-backed company's founders, Kunal Bahl and Rohit Bansal, have pledged not to take a salary, for an unspecified period.
The Economic Times
17 hours
NEW DELHI: India’s state-owned general insurance giants Oriental Insurance, National Insurance, and United India Insurance, who together have 34 per cent of the total market share and underwriting total direct premium of over Rs. 33,000 crore, are likely to be merged to create a stronger entity to fetch better valuations at the time of listing. In January the government formally approved to list five state run general insurers while announcing its intent to pare its stake in these firms to 75 per cent in one or more tranches. “It is in a preliminary stage. We are looking at various options,” a senior finance ministry official said. The listing plans of GIC Re, the state-owned reinsurer and New India Assurance is already in the works, the official said. "Consolidation in state-run companies is being explored across all sectors. In insurance, it is necessary that we have presence of staterun entities as they serve the larger purpose of financial inclusion and also to ensure there is there is enough competition," he said.
The Economic Times
18 hours
The Economic Times
18 hours
NEW DELHI: Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organisation, but declined to specify the exact number of employees affected by the decision, as the company looks to turn around its fortunes after a dismal 12 months. "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers. We have realigned our resources and teams to further these goals and drive high-quality business growth," an official release stated. Separately, in an internal email sent to employees, which was accessed by ET, the SoftBank, Foxconn and Alibaba Group-backed company's founders, Kunal Bahl and Rohit Bansal, have pledged not to take a salary, for an unspecified period.
The Economic Times
18 hours
NEW DELHI: Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organisation, but declined to specify the exact number of employees affected by the decision, as the company looks to turn around its fortunes after a dismal 12 months. "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers. We have realigned our resources and teams to further these goals and drive high-quality business growth," an official release stated. Separately, in an internal email sent to employees, which was accessed by ET, the SoftBank, Foxconn and Alibaba Group-backed company's founders, Kunal Bahl and Rohit Bansal, have pledged not to take a salary, for an unspecified period.
The Economic Times
19 hours
NEW DELHI: India plans to auction some oil exploration blocks by June and will allow bidders to carve out areas where they want to drill in order to attract greater interest, a government official told Reuters on Wednesday. The move is part of a drive by New Delhi to quickly generate income from its oil and gas reserves. India overhauled its exploration licensing last year with a shift to a revenue sharing model, while also allowing pricing and marketing freedom to the operators. The planned auction will be India's first major exploration licensing round since 2010, although the energy-starved nation recently awarded 31 small fields to mainly local firms. The world's third-biggest oil and gas consumer imports nearly three-quarters of its energy requirements, but Prime Minister Narendra Modi has set a target of cutting its fuel import dependency to two-thirds by 2022 and to half by 2030.
Phys.Org
19 hours
The Economic Times
20 hours
NEW DELHI: Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organisation, but declined to specify the exact number of employees affected by the decision, as the company looks to turn around its fortunes after a dismal 12 months. "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers. We have realigned our resources and teams to further these goals and drive high-quality business growth," an official release stated. Separately, in an internal email sent to employees, which was accessed by ET, the SoftBank, Foxconn and Alibaba Group-backed company's founders, Kunal Bahl and Rohit Bansal, have pledged not to take a salary, for an unspecified period.
The Economic Times
20 hours
The Economic Times
20 hours
NEW DELHI: Online marketplace Snapdeal has confirmed that it is undertaking layoffs within the organisation, but declined to specify the exact number of employees affected by the decision, as the company looks to turn around its fortunes after a dismal 12 months. "On our journey towards becoming India's first profitable e-commerce company in two years, it is important that we continue to drive efficiency across all parts of our business, which enables us to pass on the value to our consumers and sellers. We have realigned our resources and teams to further these goals and drive high-quality business growth," an official release stated. Separately, in an internal email sent to employees, which was accessed by ET, the SoftBank, Foxconn and Alibaba Group-backed company's founders, Kunal Bahl and Rohit Bansal, have pledged not to take a salary, for an unspecified period.
The Economic Times
20 hours
NEW DELHI: The Finance Ministry is giving final touches to infusing around Rs 8,000 crore in public sector banks (PSBs) as part of its second and final tranche for the current fiscal, 2015-16. The second round of capital infusion is almost ready and in the next few days it should go to Finance Minister Arun Jaitley for approval, sources said. The entire process should be over within a fortnight and then the respective bank would start receiving funds, sources added. The second round of funding would be based on the strict parameters, sources said, adding that few banks would be eligible, and include those whose common equity Tier 1 (CET1) capital is lower than 8 per cent. Some of the banks eligible for fund infusion include IDBI Bank, Indian Overseas Bank and UCO Bank where CET1 has been less than 8 per cent at the end of the third quarter of the current fiscal.
Sputnik International
21 hours
Voice Of America
a day
Indian Prime Minister Narendra Modi has urged the United States to have a “balanced and farsightedperspective on visas that enable thousands of skilled Indian professionals to work in the United States and sustain India’s booming $150 billion software industry. The Indian leader made his call for an open mind on work visas at a meeting with a 26-member bipartisan delegation of the U.S. Congress, which is on a weeklong visit to India. There have been growing fears in New Delhi that the Trump administration will revamp the H1-B visa program to protect jobs for American workers. Indian technology workers are the largest recipients of these visas, which allow foreign professionals to work in the United States. After meeting the U.S. delegation on Tuesday, Modi's office said in a statement that the prime minister wanted the two countries to work together on facilitating people-to-people linkages and “referred to the role of skilled Indian talent in enriching the American economy and society.