India-U.K. Free Trade Agreement talks from Nov 1

The Commerce and Industry Ministry released a statement after Union Minister Piyush Goyal’s meeting with British International Trade Secretary Elizabeth Truss Formal negotiations for the proposed India-United Kingdom Free Trade Agreement (FTA) will begin on November 1, with an interim ‘early harvest’ agreement to be completed by March 2022, the government said on Tuesday. The interim trade pact would involve […]

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Auto sales may be lacklustre this festival season: FADA

As per the data released by the association, retail sales of passenger vehicles grew close to 39% last month to 2.53 lakh units, while two-wheeler sales increased 7% to 9.76 lakh. Even as total vehicle retail sales grew by 14.5% to more than 13.48 lakh units in August, the Federation of Automobile Dealers Associations (FADA) has warned of a ‘lacklustre […]

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Airtel board approves up to ₹21,000 crores rights issue

The board, which met to consider the company’s capital raising plans, cleared rights issue price of ₹535 per fully paid-up equity share, including a premium of ₹530 per equity share Telecom operator Bharti Airtel’s board on August 29 approved up to ₹21,000 crores rights issue, according to a regulatory filing. The board, which met to consider the company’s capital raising […]

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Hyundai Motor unveils i20 N Line in India

‘Motorsport styling aimed at millennials’ Bringing its performance-oriented N Line range of cars to India, Hyundai Motor on Tuesday unveiled the i20 N Line with motorsport-inspired styling and performance. The i20 N Line, which is targeted at young millennials, is powered by a 1-litre petrol Turbo GDI engine mated with six-speed iMT (intelligent manual transmission) and seven-speed DCT transmission options. […]

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‘Air traffic may hit 83% of pre-COVID level in Q3’

‘FY22 to see 9.2 crore domestic fliers’ India’s aviation industry, battered by the pandemic, is expected to see 83% of average pre-COVID capacity by the third quarter of this fiscal, assuming no further impact or third wave, Morgan Stanley said in a report. According to the report, India could witness 90% of average pre-COVID capacity in the fourth quarter. Estimating […]

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Siva Industries’ promoters offer is better option: lenders

Promoters tell NCLT: ‘Will clear all dues within 180 days’ The promoters of Siva Industries Holdings Ltd. have told the National Company Law Tribunal (NCLT) that they would clear all dues, within 180 days, as per the terms of agreed out-of-court settlement with the lenders. The NCLT had sought explanation from lenders on the rationale behind accepting the one-time settlement […]

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IOB net surges twofold to ₹350 cr. as income rises

Bank to focus on recovery, says MD Public sector lender Indian Overseas Bank (IOB) standalone net profit for the fourth quarter ended March increased more than twofold to ₹350 crore on account of a rise in other income and decline cost of deposits. “We have excelled in all the key parameters and have requested the Reserve Bank to remove us […]

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