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Open FlipThe SEBI permitted the withdrawal of Thomas Cook India’s Buy-back Offer application filed vide the Draft Letter of Offer dated Mar 5, 2020. The application for withdrawal dated Sept 28, 2020, filed by Thomas Cook India has accordingly been disposed of under the relevant regulations of the SEBI. The company's Board of Directors has approved the Buy–back Offer in a meeting held on February 26, 2020.
Open FlipIt is a widely acclaimed book by Benjamin Graham on value investing. Written by one of the greatest investment advisers of the twentieth century, the book aims at preventing potential investors from substantial errors and also teaches them strategies to achieve long-term investment goals. In the book, Graham has explained various principles and strategies for investing safely and successfully.
Open FlipDebtor Days is a measure of how quickly a business gets paid. It’s the average number of days taken for a business to collect payment from its customers. A longer number of debtor days may mean that cash is in short supply. The less cash a business has available to it, the less able they are to invest in growth. ** Use our Research Feature to get contextual learning on the go and invest wisely. **
Open FlipPNC Infratech Ltd on Friday announced that its wholly-owned subsidiary, PNC Gomti Highways Private Limited, has achieved the Financial Closure of the Rs1530cr National Highways Authority of India project on January 30, 2020. The project involved four laning of Jagdishpur - Faizabad Section from km 47.930 (Design Chainage km 47.800) to km 107.680 (Design Chainage km 108.020) of NH-330A in UP.
Open FlipAlembic Pharmaceuticals on Friday announced their wholly-owned subsidiary Alembic Global Holding SA bagged final approval from the USFDA for its Abbreviated New Drug Application Treprostinil Injection, used for the treatment of pulmonary arterial hypertension. The drugmaker revealed that the approved ANDA is therapeutically equivalent to reference listed drug product (RlD), Remodulin Injection.
Open FlipVoltas on Friday confirmed the approval of the board of directors for the transfer of domestic projects and engineering business to wholly-owned subsidiary viz. Universal MEP Projects & Engineering Services by slump sale through a Business Transfer Agreement. Universal MEP Projects & Engineering Services was formerly Rohini Industrial Electricals Limited.
Open FlipRs 1,492 crore worth equalisation levy collected by the govt between April 1, 2020 and January 30, 2021, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Hardeep Singh Puri said the equalisation levy collection stood at Rs 338.6 crore in 2016-17, Rs 589.4 crore in 2017-18 and Rs 938.9 crore in 2018-19.
Open FlipThe UK chairman of KPMG has stepped down pending an internal investigation. During a virtual meeting on Monday, members of KPMG's financial services consulting team told Bill Michael about their concerns over potential cuts to pay and the ranking of individuals' performance. Following which Michael told staff to "stop moaning" and to stop "playing the victim card".
Open FlipMorepen Laboratories on Friday announced that the company is eyeing an all-new multi-billion dollar global API (Active Pharmaceutical Ingredients) market with the addition of new molecules in its bulk drugs portfolio. Sushil Suri, CMD, Morepen Laboratories revealed this news after the Q3’FY 2020-21 results’ board meeting on Friday. The company's API Business saw a 25% rise at Rs165.03cr in Q3FY21.
Open FlipThe Civil Aviation Ministry hiked the lower and upper limits on domestic airfares by 10% to 30%. It will continue to be in effect till Mar 31, 2021. For flight duration less than 40 mins, the airfares are hiked to Rs2,200-Rs7,800 from earlier Rs2,000-Rs6,000. Meanwhile, for travel duration which is 180-210 mins, the airfare has been raised to Rs7,200-Rs24,200, from the previous Rs6,500-Rs18,600.
Open FlipNHPC board of directors approved the buying of 2% equity share of PTC India in Chenab Valley Power Projects which is a joint venture between the company and Jammu and Kashmir State Power Development Corp and PTC. 49% stake each is held by NHPC and Jammu and Kashmir State Power in the JV. While PTC India holds about 2% stake.
Open FlipLufthansa terminated services of 103 Indian cabin crew members based in Delhi citing COVID-19 pandemic's negative impact. The German Carrier's severance package was “only a month’s salary” a fired employee reported, adding that some of the terminated staff were employed with the airline for close to 15 years. However, similar layoffs have not happened in Germany or other countries yet.
Open FlipVoltas Ltd on Friday announced a 46.26% increase in consolidated net profit at Rs 128.64 crore for Q3FY21. It posted a net profit of Rs 87.95 crore in the Q3FY20. Total income during the period under review stood at Rs 2,046.26 crore, up 32.29%, as against Rs 1,546.76 crore in the year-ago quarter. The company is a leading air-conditioner manufacturer, which made good recovery post lockdown.
Open FlipState Bank of India (SBI) is offering its Jan Dhan account holders accident insurance cover up to Rs 2 lakh if they apply for 'SBI RuPay Jan Dhan Card'. The largest lender from its official Twitter handle stated, "It's time to put yourself on the road to success. Apply for SBI RuPay Jandhan card today". Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission for financial inclusion.
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