Mutual funds pump $12 bn into equities in first six months of FY18

Investment by mutual funds in domestic equities touched a staggering $12 billion in the April-September period on strong retail investor interest, even as foreign investors trimmed their exposure. Moreover, fund houses are upbeat over-investment in the stock markets for the remainder of the current fiscal. According to the latest data, fund managers bought shares worth a net Rs 76,906 crore ($1

RBI to sell state government sec for Rs 12,000 cr on October 24

The Reserve Bank of India has said that it would sell 3/10/11/20 Years of state government security by way of auction for an aggregate amount of Rs 12,000 crore. “The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on October 24, 2017,” the RBI said in a notification. Both competitive and non-competitive bids for the auction should be su

Government to modernize 12 major ports: Nitin Gadkari

The Indian Government has said that the shipping ministry has finalised a blueprint of 142 expansion projects to modernise 12 major ports and develop new harbours at a cost of about Rs 90,000 crore. Commenting on the issue, Union minister Nitin Gadkari told the media, “These 12 ports under the administrative control of the Centre saw a growth of 3.24 per cent in cargo to 326.4 million ton

Coal supply to power sector up 7% at 204 mn tonnes in April-September

Supply of coal by state-owned CIL to the power sector in the first six months of the ongoing fiscal increased 6.7 per cent to 204.5 million tonnes even as power producers rued over low coal stock at their plants. CIL's (Coal India Ltd) dispatch to the power sector in April-September 2016-17 was 191.5 million tonnes (MT), according to government data. In September too, the fuel supply increa

Indian travel tourism industry to grow by 2.5%: Study

Indian travel and tourism industry has a potential to grow by 2.5 per cent on the back of higher budgetary allocation and low cost healthcare facility, says a report. The industry has tremendous potential to rise by 2.5 per cent provided the budgetary allocation was enhanced from the current 0.09 per cent of the total allocation to at least 0.15 per cent in 2018-19, the joint study conducted by

FPIs infuse $2 bn into debt markets this month

Foreign investors have poured a whopping $2 billion into the Indian debt markets so far this month due to lower currency volatility coupled with "positive real interest rates". Foreign portfolio investors (FPIs) however pulled out Rs 3,408 crore ($523 million) from equities on account of profit booking during this period. According to the latest depository data, FPIs invested a net su

14 companies to invest Rs 3,000 cr in Telangana`s textile park

Fourteen companies have so far come forward to set up units with a total investment of over Rs 3,000 crore in the proposed Kakatiya Mega Textile Park in Telangana's Warangal district, an official statement said.

Chief Minister K. Chandrasekhar Rao will on Sunday formally lay the foundation stone of the project. 

Coming up on 2,000 acres, the textile park -- claimed

Two 400KV power stations commissioned in Ghaziabad

Minister of State for External Affairs and Ghaziabad MP General V.K. Singh (retd), along with Uttar Pradesh Minister of Power Shrikant Sharma, commissioned two 400KV power stations here on Saturday.

District Information Officer V.B. Singh said V.K. Singh and Shrikant Sharma jointly commissioned the power stations from the grounds of Shipra Mall in the Indirapuram locality of the

Responsibility of clean air lies with all: Assocham

 Expressing concern over poor implementation of the Supreme Court ban on the sale of fire crackers in the Delhi-National Capital Region (NCR), industry chamber Assocham on Saturday said ensuring a clean environment should be a combined responsibility of the centre, the state governments, civil society and public at large and not of the apex court alone.

"The economic in

Solar Scam: Kerala Assembly special session on November 9

Kerala Chief Minister Pinarayi Vijayan on Thursday headed a cabinet meeting that decided to call a special one-day Assembly session on November 9 to table the Solar Scam probe report.

Cases were set to be registered against several Congress leaders including former Chief Minister Oommen Chandy on the basis of the Solar Judicial Commission report.

The cabinet recommended the

Plan to give adequate coal to power plants executed: Ministry

On the eve of Diwali, the Union Power Ministry announced that a detailed plan has been put into action from Wednesday to ensure sufficient supply of coal to power plants.

An official statement here following a joint review of the fuel supply situation by Power Minister R.K. Singh and Railways and Coal Minister Piyush Goyal said the ministers had also spoken to states, which had reques

Draft rules issued on trusts re-registering if aims modified

Indian income tax rules are proposed to be amended after Parliament passed legislation earlier this year requiring charitable and religious trusts, which have deviated from their original objectives, to again apply for registration for tax exmption purposes, the government said on Wednesday.

The Finance Ministry has invited public comments and suggestions on the draft rules that have

Piped natural gas to reach Bhubaneswar, Cuttack by 2019

A total of 25,000 households in Cuttack and Bhubaneswar cities will be provided Piped Natural Gas (PNG) connection by the end of 2019, said an official on Wednesday.

"Around 25,000 households in Bhubaneswar and Cuttack would get PNG connection in their kitchens by December 2019 as part of th City Gas Distribution (CGD) project. The number of PNG connections will be gradually ramp

IMG suggestions to ease financial stress: Telecom Ministry

A senior government official has said that the telecom ministry is likely to place its recommendations to cabinet of inter-ministerial group (IMG) on easing financial stress in the sector. Commenting on the issue, a telecom official told the media, "Telecom Ministry will send IMG recommendations to Cabinet for its approval in about 4 weeks." As per reports, the apex decision making bo

Railway Board empowers DRMs to re-engage retired rail staff

The Railway Board has empowered Divisional Railway Managers (DRM) to re-engage retired rail personnel for appropriate posts in the sector. In a letter dated October 16, the board gave the power to the DRMs to employ pensioners at their discretion. "Divisional railway managers are empowered to re-engage retired employees.

Railway should give publicity to such re- engagement by put

Last Metro will be at 10 p.m. on Diwali

Delhi Metro will run its last service on Diwali night on Thursday at 10 p.m.

"On account of Diwali, the last Metro train service on October 19 ... will start at 10 p.m. from terminal stations of all metro lines," the Delhi Metro Rail Corp said in a statement. On normal nights, the last trains originate at 11.30 p.m.

The services will on Thursday start as usual at 6

GST `killing` Kerala`s booming tourism industry: Stakeholders

Kerala's money-spinning tourism industry has been hit hard by the GST regime, with taxes shooting to as high as 33 per cent and affecting five-star resorts, industry players say.

According to GST Council tax rates, non-AC restaurants charge 12 per cent GST on food while AC restaurants and those with liquor licence charge 18 per cent. Five-star hotels charge a GST of 28 per cent.

Festive cheer eludes realty sector

 Much against the expectations of the real estate sector, this year's festive season is turning out to be somewhat disappointing for property developers as aspiring home buyers are extra cautious about investments in the backdrop of the slowing economy and unstable realty sector, hit by the short-term impact of the Real Estate Regulation Act (RERA) and the Goods & Services Tax (GST

Corporate India cuts gifting budget by 35-40% this Diwali

Concerned about slowdown and pressure on balance sheets, corporate India is going slow on Diwali gifts to its associates, networked partners and others, slashing the budget by at least 35-40 per cent, an Assocham survey said on Wednesday.

The reduction in gifts is more for outside connects than employees who are more or less receiving their annual gesture from their employers, the sur

Factbox: Japan, India sign accord on LNG cooperation

TOKYO  - Japanese trade minister Hiroshige Seko and India's oil minister Dharmendra Pradhan on Wednesday signed a memorandum of cooperation in Tokyo on working to establish a liquid, flexible and global market for liquefied natural gas (LNG).

That comes after India said last week it would work with Japan to make long-term LNG import deals more affordable for

Government revises quality standards for caustic soda mandatory

Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, Ananth Kumar on Tuesday said that government will make revised quality standards for Caustic Soda mandatory for both domestic manufacturers as well as for imports. This step has been taken to give a boost to the domestic industry, under Prime Minister of India, Narendra Modi’s vision of ‘Make in India’.<

India, Russia to increase cooperation in skill development

India and Russia have agreed to increase cooperation in the area of skill development at the ongoing World Skills Abu Dhabi (WSAD) event in the UAE, industry chamber Ficci said on Tuesday.

"Ficci facilitated several key meetings between National Skill Development Corporation (NSDC), the Skill Development Ministry, Russia and the World Skills team to increase India's participa

Botanical Garden as junction station ready for operations: DMRC

The Botanical Garden metro station, transformed as the first interchange station of the National Capital Region, is ready for operations and awaiting clearance from the Metro Rail Safety Commissioner, the Delhi Metro said on Tuesday.

Currently on the Yellow Line (Dwarka Sector 21-Noida City Centre), the station will now perform as a junction between Yellow and the upcoming Magenta Lin

Ensure dignified living for construction workers, Minister tells builders

Union Housing and Urban Affairs Minister Hardeep Singh Puri on Tuesday expressed concern over the living conditions of construction workers and urged builders to ensure dignified living for them by providing the necessary basic facilities.

Puri, who released a commemorative stamp here to coincide with 25 years of the Indian Builders Congress, reminded its 5,100 members that it was the

Maharashtra farmers to get loan waiver as `Diwali gift`

After an anxious wait of over five months, Maharashtra farmers will get a "Diwali gift" in the form of loan waivers from October 18, Chief Minister Devendra Fadnavis announced here on Tuesday.

"From tomorrow (Wednesday), we shall start disbursal to farmers under the Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana across all the districts in the state. The money would