Reliance Energy justifies Mumbai Metro fare hike
Posted on 14th June 2014 |
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| Reliance Energy argued at the Bombay High Court on Friday that the fare hike proposed by the company for the Mumbai Metro is justified. Mumbai Metropolitan Region Development Authority (MMRDA) has dragged Reliance to court after the company decided to hike the fare. MMRDA has said that the company ought to charge the fare, which has been decided in the contract signed between the two entities. According to MMRDA, fares should be between Rs 9 to Rs 13. Reliance has decided to hike the fare from Rs 10 to Rs 40. The company clarified that the promotional fares will be applicable only till July 9, after which the fare hike will come into effect. “This is a fight between the people of Mumbai and a private company,” advocate EP Bharucha, who represented MMRDA, said in the court. Reliance Energy argued that its hiked rates were much lower than the fares of air-conditioned buses and trains in the city. MMRDA argued that Metro fares in other cities in the country were much lower compared to the fare hike Reliance has said it will implement. The court is slated to hear the matter next on June 19. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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