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The rise in commuters was also despite the state-run Mumbai Metropolitan Region Development Authority filing a petition against MMOPL on fare fixation.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
A consortium of 10 banks, led by Axis Bank, funded the Delhi Airport Express line.
Capping the size of special economic zones to 5,000 hectare may help governments quell social unrest caused by compulsory land acquisition for such projects.
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
RIL accounted for over a quarter of the country's LPG production of around 8.5 million tonnes per annum (mtpa) last year. Around 2.5 mtpa LPG - the only petroleum product in which India is not self-sufficient - was imported last year to meet the domestic demand of 11 mtpa. RIL is planning to cut LPG production at Jamnagar from 2.3 mtpa to around 1.6 mtpa from mid-2008 following the grant of export-oriented-unit (EoU) status to the refinery.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
The telecom industry is moving towards a five-plus one model.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Indian Oil Corp is unlikely to bid for a share in six new pipelines being built by Reliance Industries to transport fuel from its refinery to its planned chain of petrol stations.\n\n\n\n
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Beyond announcements and optics, key projects have hardly moved under the Yogi government, reports Virendra Singh Rawat.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
The JV was established for development of SEZs/Model Economic Township project and other infrastructure facilities in Haryana.
Both the indices ended at their highest levels since February 1.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
American Tower bulks up in India with $1.2 billion Viom stake buy
Seen as a major initiative, the 'strategic partnership model' aims to create a vibrant defence manufacturing ecosystem in the country through involvement of both the major Indian corporates as well as the MSME sector.
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
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