Over 4.87 crore e-way bills worth Rs 13.85 lakh crore generated in August
Fri, Sep 18, 2020 5:20 PM

Over 4.87 crore e-way bills worth Rs 13.85 lakh crore generated in August

Over 4.87 crore e-way bills, valued at over Rs 13.85 lakh crore, were generated by businesses and transporters in August, reflecting a pick up in economic activity, GSTN data showed. Electronic way or e-way bills are required for inter-state movement of goods worth over Rs 50,000. For intra-state movement, limits vary from state to state. 

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Rupee settles 21 paise higher at 73.45 against US dollar
Fri, Sep 18, 2020 4:16 PM

Rupee settles 21 paise higher at 73.45 against US dollar

The rupee strengthened by 21 paise to close at 73.45 against the US dollar on Friday as weak American currency and positive domestic equities buoyed investor sentiment. At the interbank forex market, the domestic unit opened at 73.47 against the US dollar, and finally settled for the day at 73.45, registering a rise of 21 paise over its previous close.

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Paytm: 'Your money is completely safe.. "
Fri, Sep 18, 2020 3:56 PM

Paytm: 'Your money is completely safe.. "

Paytm on Friday asked its users not to panic and that their money is "completely safe" even though the app has been pulled down from Google Play Store. "Dear Paytm'ers, Paytm Android app is temporarily unavailable on Google's Play Store for new downloads or updates. It will be back very soon. All your money is completely safe, and you can continue to enjoy your Paytm app as normal," said Paytm.

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USFDA allows Cadila to market potassium chloride extended-release tablet
Fri, Sep 18, 2020 3:29 PM

USFDA allows Cadila to market potassium chloride extended-release tablet

Investors were upbeat on Zydus Cadila stock which is listed as Cadila Healthcare, on Friday after the company announced that US health regulator has approved to market Potassium Chloride Extended-Release tablets. Buying sentiment was such that Cadila even hit a fresh 52-week high of Rs422.8 per piece on Sensex resulting in as much as 7.25% gains in stock price.

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Two US-based law firms file suit against HDFC Bank
Fri, Sep 18, 2020 3:26 PM

Two US-based law firms file suit against HDFC Bank

HDFC Bank on Friday witnessed huge sell-offs after report said that two US-based law firms have filed a class-action suit against the bank alleging that the latter misled public statements. Rosen Law Firm & Schall Law Firm filed class-action suits against HDFC Bank alleging misleading public statements & for failing to inform investors about the bank's improper internal control over vehicle loans.

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Parliament passes bill to cut salaries of MPs by 30%
Fri, Sep 18, 2020 3:15 PM

Parliament passes bill to cut salaries of MPs by 30%

Parliament on Friday passed a bill to reduce for one year the salaries of MPs by 30 per cent "to meet the exigencies arising out of COVID-19 pandemic". Rajya Sabha passed the Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020. It had got the approval of Lok Sabha on Tuesday. The bill was introduced in the upper house by Parliamentary Affairs Pralhad Joshi on Thursday.

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Paytm app removed from Google Play Store!
Fri, Sep 18, 2020 2:20 PM

Paytm app removed from Google Play Store!

Digital payment company Paytm's main app goes missing from Play Store. Official Google statement follows- "We don’t allow online casinos/support any unregulated gambling apps that facilitate sports betting. It includes if app leads consumers to an external website that allows them to participate in paid tournaments to win real money/cash prizes." "

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Angel Broking IPO to open on September 22; price band set at Rs 305-306
Fri, Sep 18, 2020 1:59 PM

Angel Broking IPO to open on September 22; price band set at Rs 305-306

Angel Broking, one of the largest retail broking houses in India, is set to launch its initial public offer on September 22, 2020. The company, in consultation with merchant bankers, has fixed IPO price band at Rs 305-306 per share. Angel Broking plans to raise Rs 600 crore via IPO which consists of a fresh issue of Rs 300 crore and offer for sale of Rs 300 crore by promoters and investors.

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CAMS sees over 30% premium in grey market ahead of IPO
Fri, Sep 18, 2020 1:56 PM

CAMS sees over 30% premium in grey market ahead of IPO

Private equity firm Warburg Pincus and NSE-backed Computer Age Management Services (CAMS) witnessed strong demand in the grey market ahead of its IPO. The public issue will open on September 21 at a price band of Rs 1,229-1,230 per share. It will close on September 23. The grey market premium has been in the range of Rs 375-400 per share, i.e. 30.5-32.5 % over the upper end of its price band.

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Natco Pharma soars as path to launch Revlimid generic clears
Fri, Sep 18, 2020 1:51 PM

Natco Pharma soars as path to launch Revlimid generic clears

The settlement of Dr Reddy’s Labs with Celgene over its patent on Revlimid cleared the path for Natco to launch the first generic version of the drug which is used to treat multiple myeloma and myelodysplastic syndromes. Following the settlement, shares of Natco Pharma surged 15.56 per cent to Rs 893.60. During the day it also hit the 20 per cent upper circuit placed at Rs 931.70.

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Power demand shows signs of recovery in early September
Fri, Sep 18, 2020 6:43 AM

Power demand shows signs of recovery in early September

Power consumption in the first half of September recorded positive growth on a year-on-year (y-o-y) basis, signaling a gradual recovery of industrial and commercial activities. The 53.2 billion units (BU) of electricity supplied in the first 14 days of the month was 0.9% higher than the corresponding period last year, Union power minister RK Singh informed Parliament on Thursday.

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AGR of telecom industry rises to Rs 44,940 crore in Jan-March period
Fri, Sep 18, 2020 6:42 AM

AGR of telecom industry rises to Rs 44,940 crore in Jan-March period

The adjusted gross revenue of telecom industry increased by 9.94% in January-March quarter to Rs 44,940 cr compared to Rs 40,877 cr in the preceding October-December 2019 period. As per data shared by Telecom Regulatory Authority of India, the increase is led by wireless or access services, where the AGR increased to Rs 34,495.88 cr compared to Rs 30,323 cr in the preceding period.

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BIS moves HC against Tata Steel for defaulting payment of lease rental
Fri, Sep 18, 2020 6:40 AM

BIS moves HC against Tata Steel for defaulting payment of lease rental

Brace Iron and Steel on Thursday moved the Delhi high court accusing Tata Steel BSL of defaulting in payment of its lease rentals for using its 4 Oxygen plants/leased equipment at the latter’s integrated steel plant in Meramandli, Odisha. Seeking immediate payment of the entire defaulted amount of Rs 79cr including interest, it urged the HC to restrain the Tata firm from using its equipments.

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Don’t look to central government for help, auto companies told
Fri, Sep 18, 2020 6:35 AM

Don’t look to central government for help, auto companies told

Automakers should cut royalty payouts to foreign parents and boost efficiency to reduce vehicle prices instead of asking the government to lower taxes, a senior finance ministry official said, ruling out tax breaks for the companies to ride out the coronavirus crisis and the economic slowdown that has crimped demand.

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Hindustan Zinc looks to raise up to Rs 4,000 cr via NCDs
Fri, Sep 18, 2020 5:28 AM

Hindustan Zinc looks to raise up to Rs 4,000 cr via NCDs

Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday said it proposes to raise up to Rs 4,000 crore via debentures. The company proposes to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 4,000 crores in one or more tranches.

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