FMCG companies chase stiff deadlines to cut plastic use
Posted on 9th September 2019 |
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While Prime Minister Narendra Modi has set a deadline of October 2, 2019, for eradication of single-use plastic, fast-moving consumer goods (FMCG) companies are working aggressively towards meeting their timelines of using 100% biodegradable plastic for packaging ready-to-eat products. |
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Bank of Baroda plans to raise capital up to Rs 3,000 cr via tier-II bonds
Posted on 9th September 2019 |
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Public sector lender Bank of Baroda (BoB) plans to raise capital up to Rs 3,000 crore through tier-II bonds for meeting capital adequacy norms for the merged entity (integration of Vijaya and Dena Bank with BoB). Rating agency India Ratings has assigned “AAA” stable rating to proposed bond offering by the PSB.
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Sebi orders forensic audit of Sun Pharma financial statements from FY16-18
Posted on 7th September 2019 |
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New Delhi: Drug major Sun Pharmaceutical Industries on Thursday said a forensic audit has been ordered by markets regulator Sebi with regard to its financial statements for three financial years between 2015-16 and 2017-18. In a regulatory filing, Sun Pharma said, "A forensic audit has been ordered by Sebi w.r.t. the financial statements of Sun Pharmaceutical Industries Ltd for the financial years ending March 31, 2016, March 31, 2017 and March 31, 2018". |
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Nifty needs a decisive break above 11000 points
Posted on 7th September 2019 |
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The markets rallied sharply on Friday after taking a breather in the previous session as the indices clocked their best gains of the week, but ended lower for the week. The gains came on the back of positive Asian markets amid easing US-China trade tensions. The Sensex gained 337 points or 0.92 per cent, while Nifty Index ended 98.3 points or 0.91 per cent higher at 10,946.2. |
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TVS Sport sets a new record for ‘highest fuel efficiency on a motorcycle ‘at 76.4 kpl
Posted on 7th September 2019 |
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TVS Motor Company has announced that its 100cc motorcycle, TVS Sport, has set a new record of the ‘highest fuel efficiency delivered by a motorcycle on the Golden Quadrilateral’ in the India Book of Records and Asia Book of Records. “This feat was achieved by Pavitra Patro who completed the Golden Quadrilateral, and chose TVS Sport to complete this record. The ride saw Pavitra traverse 6,377-km across the country to achieve the record with an on-road mileage of 76.4kpl,” the company said in a statement. |
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Volve XC90 Excellence Lounge: When a luxury car gets business jet treatment
Posted on 7th September 2019 |
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Move over the best German, and British, luxury cars. Move over a Mercedes-Benz, and if I may add a Bentley, a Rolls-Royce. This week Volvo Cars, the Swedish luxury car company, introduced in India the XC90 Excellence T8 Plug-in Hybrid in Lounge Configuration—long name for a car, but it has a long list of opulent features. |
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Auto dealers for reporting of retail numbers instead of wholesale despatches
Posted on 7th September 2019 |
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Auto component makers and dealers on Friday made a strong case for reporting retail sales numbers instead of wholesale despatches, stating that the move will help suppliers align their production with the actual demand. Automakers in India report despatches from factories to dealers and not the retail sales to customers, which many believe is a faulty method of calculating growth, given that in many months, stocks remain unsold at dealerships. In most of the developed nations, manufacturers report retail numbers. |
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Coal India Rating: Buy; August output/offtake lowest in 3 years
Posted on 7th September 2019 |
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Coal India (CIL) has reported a 10% y-o-y decline each in August production and sales volume, now down to their lowest levels in the past three years. Key highlights: (i) Larger subsidiaries MCL (Mahanadi Coalfields Ltd) and SECL (South-Eastern Coalfields Ltd) accounted for the bulk of the decline; (ii) continued low rake availability – down to 178/day in August from 205/day in July—dampened offtake; (iii) production volume was hit by fatalities at MCL and SECL and higher-than-normal rainfall. |
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Reserve Bank of India refuses to extend Equitas SFB's listing deadline
Posted on 7th September 2019 |
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The Reserve Bank of India (RBI) on Friday refused to extend the listing deadline for Equitas Small Finance Bank (SFB) while barring it from opening new branches till further orders. The regulator has also frozen the pay of Managing Director and Chief Executive Officer Vasudevan P N as the bank violated listing norms. |
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China says new digital currency will be similar to Facebook's Libra
Posted on 7th September 2019 |
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China's proposed new digital currency would bear some similarities to Facebook's Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank officer said. Mu Changchun, deputy director of the People's Bank of China's payments department, said the development of the coin would help protect country's foreign exchange sovereignty as commercial applications of such currencies expanded. |
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