Maharashtra set to gain as auto majors like M&M, Mercedes-Benz line up mega investment plans
Posted on 4th March 2016 |
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| MUMBAI: Maharashtra is making a strong comeback in the automobile sector after losing out to Gujarat, Andhra Pradesh and Tamil Nadu in recent years, with companies promising fresh investments worth billions of dollars in the western state over the next five to seven years. US automobile giant General Motors has committed to invest $1 billion (Rs 6,770 crore) in new facilities. The Maharashtra government has signed memoranda of understanding with companies such as Mahindra & Mahindra, Mercedes-Benz and Fiat Chrysler, which are expected to bring in $2.5 billion to the state, including from component manufactures. The planned investments are estimated to generate direct employment to 15,000 to 17,000. Two to three times more people are expected to get indirect jobs. For several auto makers, such as from Mahindra and Bajaj Auto to Audi and Mercedes-Benz, Maharashtra is already home. While the state has managed to hold on to existing investors, fresh investment over the past few years has mostly gone to Gujarat and Andhra Pradesh. Despite courting Maruti Suzuki and Ford for long, Maharashtra lost out on the investment to Gujarat. But now the state government is actively pursuing auto makers, as the industry both brings investment and create jobs at large scale. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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