Business

  • Reliance Group market capitalization surges 1,000% to nearly Rs 8K cr
    MUMBAI, JUNE 20 (IANS): The market capitalization of Anil Ambani led Reliance Group has surged by over 1,000 per cent in less than 3 months. The market cap of the group, which stood at Rs 733 cr in March, jumped to Rs 3,890 cr in May 2021, and Rs 7,866 cr on the last trading day of this week i.e. June 18, 2021. The market capitalization of the group companies, Reliance Infrastructure, Reliance Power, and Reliance Capital has more than doubled over the last 20 trading days. The
  • Tesla built its own Model 3-based police car in UK
    London, June 19 (IANS): Elon Musk-owned electric vehicle company Tesla has reportedly built its police car based on the Model 3 electric sedan in the UK and it plans to use it to test the UK emergency vehicle market. Tesla UK has revealed police liveried Model 3 saloon fitted with blues-and-twos, which the company said will be available to emergency services across the UK for trial and assessment. The automaker did not reveal any specs for the new vehicle, but it looks like
  • IMF proposes setting up of an int'l carbon price floor
    Washington, June 19 (IANS): The International Monetary Fund (IMF) has proposed to set up an international carbon price floor to help limit global warming and achieve the transition toward low carbon growth over this decade. "Gradually increasing price on carbon encourages innovation and transition to renewable energy, clean mobility, and low carbon technologies," IMF Managing Director Kristalina Georgieva said on Friday. "Limiting global warming to 1.5 to 2 degrees
  • India's forex reserves rise by over $3 bn
    Mumbai, June 19 (IANS): India's foreign exchange reserves rose by $3.074 billion during the week ended June 11. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the week ended June 4. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary
  • Fuel prices remain unchanged on Saturday
    New Delhi, June 19 (IANS): Fuel retailers spared consumers of any further increase in prices by keeping retail prices of petrol and diesel unchanged on Saturday. Accordingly, petrol continues to cost Rs 96.93 per litre and diesel Rs 87.69 per litre in Delhi. Across the country as well the petrol and diesel prices remained static on Saturday but its actual retail prices varied depending on the level of local levies in respective states. In the city of Mumbai, where petrol
  • Railways approves operation of 660 more trains
    New Delhi, June 18 (IANS): Keeping in view the demand and unlock in several states with the Covid cases dropping below one lakh in last 12 days, the Indian Railways on Friday said that it has given the approval to operate 660 more trains in a graded manner. The Railway Ministry, in a statement, said that with the flattening of the coronavirus curve, Indian Railways is enhancing the number of special trains to facilitate the travelling public, to provide trains for the movement of mi
  • Mild recovery in consumer confidence in June: Report
    NEW DELHI, JUNE 18 (IANS): Consumer Confidence for urban Indians has shown mild recovery in June 2021 with a slight uptick of 1.4 percentage points, over the previous month, according to the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI). The marginal recovery comes after a sharp plunge of 6.3 percentage points in May, due to the resurgence of the outbreak. The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, is a mixed bag. The
  • Neo-Retro: Yamaha launches motorcycle FZ-X
    NEW DELHI, JUNE 18 (IANS): Two-wheeler major India Yamaha Motor (IYM) on Friday launched its first 'Neo-Retro' motorcycle - FZ-X - availed at a starting price of Rs 116,800 (Ex-Showroom, Delhi). According to the company, the new FZ-X comes with a '2-valve Blue Core FI Engine' which generates 12.4PS of peak power at 7,250 rpm and 13.3Nm of torque at 5,500 rpm. "It is engineered to be the ultimate riding partner across various riding conditions and is powered b
  • Gold climbs Rs 188; silver jumps Rs 173
    New Delhi, June 18 (PTI): Gold in the national capital on Friday rose Rs 188 to Rs 46,460 per 10 gram reflecting recovery in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,272 per 10 gram. Silver also jumped Rs 173 to Rs 67,658 per kilogram from Rs 67,485 per kilogram in the previous trade. In the international market, gold was trading with gains at USD 1,791 per ounce and silver was marginally higher a
  • Hyundai Motor hopes to beef up SUV sales with Alcazar
    Chennai, June 18 (IANS): India's second largest car maker Hyundai Motor India Ltd is hoping to notch up good sales volumes in its sport utility vehicle (SUV) segment with the launch of 6/7 seater Alcazar, said a senior official. Nearly 45 per cent of the company's sales volume is contributed by its SUVs. The SUV sales volume is expected to go up further with the launch of premium SUV 6/7 seater Alcazar, he added. Last fiscal, the company logged a total sales (domestic and
  • S Korea acts against Huawei, Samsung for false equipment records
    Seoul, June 18 (IANS): South Korea's ICT ministry said it has revoked conformity assessments on around 1,700 pieces of communications equipment from nearly 400 companies, including Huawei Technologies and tech giant Samsung Electronics, after they submitted falsified test records. Under South Korea's radio wave law, communications equipment needs to undergo conformity assessments that check their impact on other equipment and the human body, to manufacture, sell or import th
  • Hiked again, petrol nears century mark pan-India
    New Delhi, June 18 (IANS): Fuel prices increased again across the country on Friday adding more misery to common man's woe, as he already grapples with rising food prices amid shrinking income. Petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per-litre-mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, A
  • Maruti Suzuki launches 'Mobility Challenge' for mature startups
    New Delhi, June 18 (IANS): Auto major Maruti Suzuki India on Friday launched the 'Mobility Challenge' to explore new-age technologies and help growth-stage startups scale up their business. Accordingly, the all new unique programme was unveiled in partnership with Hyderabad-based innovation intermediary and business incubator 'T-Hub'. "Through 'Mobility Challenge', Maruti Suzuki India Ltd. (MSIL) is eager to partner with startups, including establishe
  • Petrol crosses Rs 100 in Bengaluru - 3rd metro after Mumbai and Hyderabad
    New Delhi, June 18 (PTI): Bengaluru on Friday became the third metro city in the country to see petrol price cross Rs 100 per litre mark after fuel prices were raised yet again. Petrol price was hiked by 27 paise per litre and diesel by 28 paise, according to a price notification of state-owned fuel retailers. The hike -- 26th in less than seven weeks -- pushed fuel prices across the country to new historic highs. In Delhi, petrol hit an all-time high of Rs 96.93 a litre, whil
  • Del Monte launches packaged 'King Coconut Water' in India
    NEW DELHI, JUNE 17 (IANS): Packaged foods brand Del Monte has announced the launch of its packaged 'King Coconut Water' in India. Native to Sri Lanka, King Coconut is known for its superior taste and health benefits Del Monte is the first brand in India to offer King Coconut Water. Del Monte's King Coconut Water, which is 100 per cent preservative free, comes in limited edition offer of 250 ml tetra pack for Rs 269. It is available at leading modern retail outlets as
  • Flipkart, Amazon challenge court order on CCI probe: Report
    NEW DELHI, JUNE 17 (IANS): Walmart Incs Flipkart and Amazon.com Inc have filed legal challenges against the resumption of an antitrust investigation into their business practices, a global news wire reported. The Competition Commission of India (CCI) launched an investigation in January last year after a complaint accused Flipkart and Amazon of promoting select sellers on their e-commerce platforms and using deep discounts to stifle competition. The companies have denied wrongdoi
  • HSBC India pledges Rs 15 cr Covid relief for Mumbai's 'Dabbawalas'
    NEW DELHI, JUNE 17 (IANS): HSBC India on Thursday announced that it is pledging financial assistance to the tune of Rs 15 crore to support dabbawalas in Mumbai. This support will be provided in association with United Way Mumbai and aimed at providing relief to dabbawalas who have been significantly impacted due to the pandemic and subsequent lockdowns, said a company statement. As part of the support and relief packages, each dabbawala will be provided ration and hygiene materia
  • TVS Motor launches TVS iQube Electric at Rs 1.15L in Chennai
    CHENNAI, JUNE 17 (IANS): Two and three wheeler maker TVS Motor Company Ltd on Thursday announced the launch of its electric scooter here. In a statement the company said it has launched its electric scooter TVS iQube Electric, an urban scooter powered by an advanced electric drivetrain at a price of Rs 115,218. TVS iQube Electric is equipped with a 4.4 kW electric motor and has a maximum speed of 78 kmph and traverses 75 kms with a full charge. During this fiscal, the company
  • Disclosures to be mandatory for debt securities of listed entities
    NEW DELHI, JUNE 16 (IANS): In a major move towards curbing insider trading, the Securities and Exchange Board of India (SEBI) has decided to include the listed debt securities of equity listed companies under the purview of "System Driven Disclosures". The SEBI has asked the depositories and stock exchanges to make necessary arrangements such that the disclosures pertaining to listed debt securities, along with equity shares and equity derivative instruments, are dissemina
  • Flipkart unveils new fulfilment centre in Bengal
    Kolkata, June 16 (PTI): Walmart owned e-commerce major Flipkart, on Wednesday announced its second largest new fulfilment centre at Dankuni, West Bengal to ramp up its supply chain infrastructure in the east. The company said Flipkart has seven fulfilment centres in the state with a total area spread across 10 lakh sq ft and 152 delivery hubs "We are strengthening our supply chain presence in West Bengal and this expansion will help support small and medium businesses from t