India’s retail sector to reach $1.15 bn by 2021: Study

According to the credit ratings agency, the country’s gross domestic product (GDP) is expected to go up to 7.3 per cent by FY21. Private final consumption expenditure is expected to grow by 10-11 per cent year-on-year until 2021, which has grown at about 10-12 per cent… Continue Reading

Setback once again to auditors in IL&FS case as NCLT junks plea

Earlier, the Ministry, on 23 June, moved the NCLT seeking a five-year ban on them in the IL&FS saga. Dismissing their petitions challenging the jurisdiction of the tribunal to ban them, the NCLT however, said it will hear the Ministry’s application seeking a five-year ban on…. Continue Reading

India Cements EBITDA grows over 50% in Q1 FY20

The capacity utilisation of the company during the quarter was 7 per cent, while overall cement sales (including clinker) was at 30.42 Lakh tonnes for the quarter as compared to 30.75 lakh tonnes in the same quarter of the previous year. Continue Reading

Trade suspension will hurt Pakistan more: Experts

Trade relations between India and Pakistan were already strained following the Pulwama terror attack in February as India imposed 200 per cent customs duty on all goods imported from the neighbouring nation. Continue Reading

IIFL Finance eyes Rs 1,000 cr NCD sale

Chief executive Sumit Bali exuded confidence that despite the elevated cost, they will be able to maintain net interest margins at seven per cent because of its focus on retail. It is looking to raise Rs 100 crore with a green-shoe option to raise Rs 900 crore more. Continue Reading

TaMo pick-ups production lowered by 17% at Pantnagar plant

The largest commercial vehicle maker Tata Motors has lowered production at its Pantnagar (Uttarakhand) facility to 15,000 units of smml pick-up trucks this month from 18,000 units last month amid sputtering sales. Continue Reading

Centre proposes guidelines for e-commerce firms, national policy soon

The Consumer Affairs Ministry has sought views of stakeholders on the draft guidelines on e-commerce by 16 September. Meanwhile, the government is planning to come out with a national e-commerce policy soon. Continue Reading

Industry slowdown forces Maruti to cut temporary workforce

Maruti Suzuki has revealed that it employed 18,845 temporary workers on average in the six months ended 30 June, down six per cent or 1,181 from the same period last year. The company also said job cuts had accelerated since April. Continue Reading

Airtel to sacrifice 3G to focus on 4G, customers to be shifted to top spectrum

Shortly after being dethroned by Reliance Jio and becoming the number two operator in terms of subscriber base, Bharti Airtel is said to have decided to completely shut down its 3G network by the end of the current financial year. Continue Reading