This is despite a 10 per cent rise in the average weekday ridership.
Weak demand from the poultry sector has resulted in a sharp decline in feed prices too, with both soybean and maize prices falling by nearly 25 per cent in the past two months. The poultry market consumes around half of soybean and maize production in India.
Stock exchanges and other market infrastructure institutions as well as their top officials are liable to face penalties for lapses in handling and recitfying technical glitches, with Sebi putting in a place a stricter compliance system driven by "financial disincentives". The markets watchdog has come out with a detailed Standard Operating Procedure (SOP) for Market Infrastructure Institutions (MIIs) less than five months after a technical glitch halted trading at the country's largest bourse NSE for nearly four hours. There will be a "financial disincentives" structure for MIIs -- stock exchanges, clearing corporation and depositories -- for any business disruption beyond pre-defined time, according to a circular issued on Monday.
Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with a counter open offer, with the backing of a financial investor.
Facing a deepening slowdown, the auto sector is pinning hopes on the GST Council meeting on September 20 for a rate cut from 28 per cent to 18 per cent. However, states including Bihar, West Bengal, Kerala, and Punjab are of the view that the slowdown in the auto sector is not because of the GST rate but structural issues in the economy.
'The reality is no one, including some of the names that have shown up in the last few weeks, have any unilateral decision-making power in this,' Facebook India MD Ajit Mohan tells Peerzada Abrar.
Industry is gathering scientific data to approach the regulator, DCGI, for a review of the suspension order.
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
India is in no danger of crossing the 10 per cent threshold of food subsidies under the WTO's agreement on agriculture and it will not breach the level in the near future.
The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of both banks.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Everything you wanted to know about the Mumbai-Ahmedabad bullet train but didn't know who to ask.
BSE proposes two models for making gold trading and investment transparent
However, predictions that economic conditions will normalise after the elections underpinned optimism regarding the outlook and supported a stronger upturn in employment.
The White House and the Indian-American community are solidly backing the nomination of Neera Tanden as the director of Office of Management and Budget, describing her as the most appropriate candidate to hold the position.
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
Representatives of stressed companies could seek more time for submitting a resolution plan, provided there is appropriate justification, said legal experts, but getting an extension will not be automatic just because an NCLT Bench is on vacation.
The Rupee is expected to weaken further against the dollar.
IMD is preparing a concept paper on narrowing its grid resolution from 22 sq km to 10 sq km.
As a result of the mass state-led scheme, the processes in the health insurance market could get simplified over time and become uniform
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
NPPA suggests expanding the list of essential medicines whose prices are controlled
Former Delhi chief minister Sheila Dikshit's statements embarrassed the party, and within hours she alleged she had been 'misquoted'
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
The main reason was that CPI inflation would likely remain below 4 per cent till July.
Here's everything you need to know about the Goods and Services Tax Bill.
Jallikattu is organised at 24 places Tamil Nadu between January 14 and January 17. An event can raise up to Rs 15 lakh in a village
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Indian pharma firms under European drug regulator's scanner.
Organisers warn participants against eating out over COVID-19 risks.
Debacle in four states prompts party to step up efforts to fare well in general elections, reports Sanjay Jog.
A potential conflict of interest situation could have played in Dhoni's mind when he decided to quit, report Sai Manish and N Sundaresha Subramanian.
The company has chalked out a detailed plan for development of its existing KG basin assets after integration with GSPC facilities.
The government would be setting up a National Health Protection Council, National Governance Board and National Health Agency before roll-out of the scheme on August 15.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
Infosys is developing three more projects at Electronics City.
As corporate India prepares to put its house in order, the transition raises concerns
The state-owned airport authority is conducting a techno-feasibility study.
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