Bhushan to merge with Tata Steel
Tata Steel BSL produced 3.58 million tonnes of steel from its Odisha plant in 2018-19 Picture by ShutterstockTata Steel has proposed to merge Tata Steel BSL (formerly Bhushan Steel) with itself, less than a year after acquiring the company through a bankruptcy process. Shareholders of Tata Steel BSL will get one share of TSL for every 15 shares held in the company. TSL holds 72.65 per cent stake in Tata Steel BSL. Even though the announcement came after market hours the scrip of TSL and Tata Steel BSL ended on divergent notes. Tata Steel BSL produced 3.58 million tonnes of steel from its Odisha plant in 2018-19.
Source:The Telegraph
April 25, 2019 19:18 UTC
Maruti calls time on diesel
“From April 1, we will have no diesel car on sale. Depending on how customers react… if we find there is a market for diesel cars (after the new emission norms kick in) we will develop it in a reasonable amount of time,” Maruti chairman R.C. “Ever since the BS VI compliant engines have come (in Europe) diesel vehicle sales have been falling because the price difference between petrol and diesel cars has become much bigger. Maruti gets 23 per cent of its total sales in the domestic market from diesel cars. For the entire fiscal, Maruti posted a net profit of Rs 7,500.6 crore, down 2.9 per cent from the previous fiscal.
Source:The Telegraph
April 25, 2019 19:18 UTC
Voda rights on target
Through the rights issue, Vodafone Idea offered 2,000 crore new shares at Rs 12.50 per share which was a sharp discount to the current market price. According to NSE data, the rights issue had received bids for 1,109 crore shares. Moreover, the rights issue entitlement worth about Rs 2,000 crore renounced by Malaysia-based Axiata Group has gone through the non-ASBA route. Axiata had held 71.2 crore shares and in the rights issue, it was entitled to subscribe 163 crore shares worth about Rs 2,000 crore. An ASBA is an application containing an authorisation to block the application money in the bank account for subscribing to an issue.
Source:The Telegraph
April 25, 2019 19:18 UTC
Jet seeks to protect overseas flight rights
Jet Airways has written to the civil aviation ministry seeking protection of its international flying rights during the bidding process for the troubled carrier even as rivals like SpiceJet devise plans to expand their overseas footprint. Sources said Jet had urged the ministry not to farm out its international flying rights during the period that bids are being sought for the airline. “It is just a matter of 10 to 15 days, please don’t give Jet’s international flying rights till the sale process is decided,” the airline said. The letter said the allotment of such rights now would impact the sale process. We seek support of the ministry and request that Jet Airways rights are not allocated to any airline, whether on permanent or temporary basis,” the airline said.
Source:The Telegraph
April 25, 2019 19:18 UTC
Biden announces run
Biden, 76, is set to offer himself as a level-headed leader for a country wracked by political conflict, a rationale he believes could attract a broad cross-section of voters who want to move on from Trump. In that moment, Biden said, “I knew the threat to our nation was unlike any I’d ever seen in my lifetime.”“We are in the battle for the soul of this nation,” Biden said. “I believe history will look back on four years of this President and all he embraces as an aberrant moment in time. A spokeswoman for Obama issued a statement on Thursday morning praising Biden without endorsing him, a sign of both the political value of that relationship and also the limits of what Obama might do to support his former running mate. “President Obama has long said that selecting Joe Biden as his running mate in 2008 was one of the best decisions he ever made,” said Katie Hill, Obama’s spokeswoman.
Source:The Telegraph
April 25, 2019 19:07 UTC
प्राइम टाइम : चीफ़ जस्टिस पर आरोप से न्यायपालिका में हलचल वीडियो
Shareसुप्रीम कोर्ट के चीफ़ जस्टिस रंजन गोगोई के ख़िलाफ़ यौन उत्पीड़न का आरोप सामने आने के बाद से पूरी न्यायपालिका में हलचल मची हुई है. हैरान करने वाली बात ये है कि इस आरोप के तत्काल बाद एक वकील उत्सव बैंस ने दूसरा आरोप लगाया कि चीफ़ जस्टिस के ख़िलाफ़ बहुत बड़ी साज़िश की कोशिश हुई. बैंस का कहना है कि चीफ़ जस्टिस के ख़िलाफ़ प्रेस कॉन्फ़्रेंस करने के लिए एक करोड़ से ऊपर की रक़म की पेशकश की गई.
Source:NDTV
April 25, 2019 17:48 UTC
Gol Maal's comedy hinges on the stiff upper lip
Actually, he invents his own persona first, gets a job, gets caught by Bhavani at a hockey match and invents a flamboyant twin, Laxmanprasad a.k.a. Sassy socialite Dina Pathak slipping out of her high heels into widow’s weeds remains one of the film’s funniest scenes. Gol Maal spoofs this by getting a fake twin for the guy next door. The audience is in on the joke, Bhavani isn’t till the end when the truth — not to judge a man by his moustache — helps him shed his prejudices. When we laugh at Bhavani, we laugh at our own prejudices too.
Source:The Telegraph
April 25, 2019 17:26 UTC
Could have inflicted heavy damage on Pak during dogfight if we possessed 'tech asymmetry': IAF
If the Indian Air Force possessed high levels of "technological asymmetry", then it would have been able to inflict heavy damage on Pakistan during the adversary's unsuccessful aerial raid on February 27, according to an IAF report. The sources said the planned induction of Rafale aircraft with deadly Meteor beyond-visual-range air-to-air missile (BVRAAM) and S-400 air defence missile system will provide India a significant advantage over Pakistani Air Force. Various packages of jets flew in several directions including a fleet of Jaguars went towards Bahawalpur, a key air base of Pakistan Air Force, sources said. In its analysis of possible areas for improvement, the IAF sought superior technological asymmetry and air defence system over Pakistan, sources said. India is procuring a batch of S-400 air defence system from Russia at a cost of USD 5 billion.
Source:dna
April 25, 2019 16:41 UTC
CJI रंजन गोगोई के खिलाफ यौन उत्पीड़न के आरोपों की जांच के लिए बनी कमेटी में अब दो महिला जज
चीफ़ जस्टिस रंजन गोगोई के खिलाफ यौन उत्पीड़न के आरोप की जांच के लिए बने पैनल से जस्टिस रमना पीड़ित महिला के एतराज़ के बाद अलग हो गए. ये बात साफ कर दी गई है कि जस्टिस पटनायक की जांच के दायरे में मुख्य न्यायाधीश के ख़िलाफ़ लगे यौन उत्पीड़न के आरोप का मामला नहीं होगा. सीजेआई ने कहा कि मैं देश के लोगों को आश्वस्त करना चाहता हूं कि मैं महत्वपूर्ण मामलों की सुनवाई करूंगा. उच्चतम न्यायालय के महासचिव संजीव सुधाकर कलगांवकर ने इस बात की पुष्टि की है कि अनेक न्यायाधीशों को एक महिला के पत्र प्राप्त हुए हैं. दूसरी तरफ, अदालत ने कहा कि वह इस बात को मीडिया के विवेक पर छोडती है कि सीजेआई के खिलाफ यौन उत्पीड़न के आरोपों के संबंध में जिम्मेदार ढंग से पेश आना है.
Source:NDTV
April 25, 2019 16:18 UTC
Watch: Pratap Bhanu Mehta at Express Adda
Watch here>>https://t.co/3ecUWIpKsr — Express Adda (@ExpressAdda) April 25, 2019Pratap Bhanu Mehta, Vice Chancellor of Ashoka University and a contributing editor with The Indian Express, has been speaking truth to power on all important issues, nudging people to think deeper, leading them to fundamental questions. @pbmehta at #ExpressAdda: The most disquieting thing about this election is the lack of principle conviction in any party. Ultimately, individual rights can be protected only if you take it out of calculus of politics and place it on institutions. — Express Adda (@ExpressAdda) April 25, 2019His weekly column on the editorial pages of The Indian Express encompass party politics, political economy, the matrix of institutions, checks and balances, constitutional law, international relations and intellectual history. The Express Adda is a series of informal interactions organised by The Indian Express Group and features those at the centre of change.
Source:Indian Express
April 25, 2019 15:26 UTC
Meet Jyoti Jain, the new FICCI FLO chairperson
Tell us how your association with FLO began...My association started about seven years ago. Most of the events have been a learning curve for me because there have been very diverse events. As the new FICCI FLO chairperson, what is your theme this year? The main FLO theme is “The power to empower” and to carry this forward, I have kept the theme for this year as “Enlighten. We have about 570 members and the city chapter of FICCI FLO is 18 years old, with 20 committee members.
Source:The Telegraph
April 25, 2019 15:11 UTC
Axis Bank has fixed its big bad loans but small loan risks are rising
Private lender Axis Bank has fixed its big bad loan problems that had dragged it down to a loss making lender a year back. Its gross bad loan ratio has dropped to 5.26% in March quarter from the peak of 6.77% a year ago. A report by TransUnion and SIDBI on such borrowers showed that bad loan ratios are highest among SME borrowers. Its provisions towards bad loans has risen every quarter and the coverage ratio has reached 77% in the fourth quarter. Ergo, the fast growth of 17% in its corporate loan book and 18% of overall domestic advances growth should add to delight.
Source:Mint
April 25, 2019 15:11 UTC
Govt to charge Axis, Standard Chartered, Bawa & wife with contempt of NCLT
MUMBAI: The corporate affairs ministry will Friday file contempt of court petitions against Axis Bank and Standard Chartered Bank for their alleged role in ex-IL&FS Financial Services managing director Ramesh Chander Bawa and his wife disposing off a portion of their assets which were frozen by the NCLT. The ministry is filling two applications and a petition against Bawa and his wife and the banks after it has come to light that the parties have broken the orders of the bankruptcy tribunal. However, the NCLT had allowed the former directors of the crippled group to withdraw ₹2 lakh each per month from one of their bank accounts after intimating the the tribunal. The NCLT has posted the matter for hearing on Friday. The details of the asset disposals are awaited.
Source:Mint
April 25, 2019 15:11 UTC
Tata Steel’s net profit falls 84% to ₹ 2,295 crore in Q4
MUMBAI: Tata Steel, India’s largest private sector steel producer, posted a 84% drop in fiscal fourth quarter consolidated net profit mainly because the year-earlier profit was boosted by a one-time gain. Tata Steel’s consolidated net profit figure for Q4 FY19 is not directly comparable to Q4 FY18 as it does not include NATSteel Holding and Tata Steel Thailand as they are classified as Asset Held For Sales. Net profit in the quarter ended 31 March fell to ₹2,295 crore, from ₹14,688 crore a year earlier. It also said the boards of both Tata Steel and Tata Steel BSL (Bamnipal Steel), formerly Bhushan Steel, have proposed a merger. FY19 consolidated steel production, as well as deliveries, rose 17% year-on-year to 27.11 million tonnes and 26.8 million tonnes, respectively.
Source:Mint
April 25, 2019 14:56 UTC