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Edible Oil Imports Plunge 34% On Year In April

The Solvent Extractors' Association (SEA), noted in a latest update that based on the available data, it has compiled provisional data for Import of Edible Oils for April 2020. The imports in April 2020 are reported at 790,377 tons compared to 941,219 in March 20 and 1,198,763 tons in April 2019, down by 34%, on YoY basis. The drop in April is mainly due to logistics issues at destinations as well as at discharge ports. The overall Import of Edible Oils during Nov-2019 to April-2020 is reported at 6,182,184 tons, compared to 7,203,830 tons during the same period of previous year, i.e. down by 14 %.




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RBI Announces Rate Of Interest On GOI Floating Rate Bonds 2024 At 3.62%

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Gillette India standalone net profit declines 40.31% in the March 2020 quarter

Sales decline 12.66% to Rs 406.57 crore




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Cyient consolidated net profit declines 74.41% in the March 2020 quarter

Sales decline 7.68% to Rs 1073.60 crore




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Western Transmission Gujarat standalone net profit declines 13.48% in the March 2020 quarter

Sales rise 27.54% to Rs 13.20 crore




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SBI Card & Payment Services standalone net profit declines 66.41% in the March 2020 quarter

For the full year, net profit rose 43.91% to Rs 1244.82 crore in the year ended March 2020 as against Rs 864.97 crore during the previous year ended March 2019




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Reliance Power reports standalone net loss of Rs 264.94 crore in the March 2020 quarter

Sales decline 2.72% to Rs 6.09 crore




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Uttam Galva Steels reports consolidated net loss of Rs 536.04 crore in the March 2020 quarter

Sales decline 57.18% to Rs 118.66 crore




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Reliance Power reports consolidated net loss of Rs 4206.38 crore in the March 2020 quarter

Sales rise 13.39% to Rs 1798.05 crore




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Swaraj Engines standalone net profit declines 4.86% in the March 2020 quarter

Sales decline 8.53% to Rs 175.13 crore




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Reliance Capital reports consolidated net loss of Rs 2124.00 crore in the March 2020 quarter

Sales decline 33.91% to Rs 3580.00 crore




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Reliance Infrastructure reports consolidated net loss of Rs 153.84 crore in the March 2020 quarter

Sales decline 9.01% to Rs 3625.86 crore




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Assembly Polls 2016 results: Counting of votes begins in 4 states

The counting of votes will decide the fate of approximately 8,300 candidates




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AIADMK ahead in 134 seats, DMK, allies in 83

Jayalalithaa leading by over 16,000 votes in Dr RK Nagar constituency, ahead of her DMK rival Shimla Muthchozhan




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Railways' 'Mission 41K' to save energy worth Rs 41,000 cr

The ministry plans to achieve this target by doubling the current pace of electrification




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Pre-budget media quarantine in FinMin to start from Jan 4

Finance Minister Arun Jaitley in his second budget is likely to focus on steps to accelerate economic growth




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Cyient tumbles after weak Q4 numbers

Cyient skid 7.32% to Rs 214.75 after consolidated net profit slumped 58.26% to Rs 45.20 crore on a 2.92% decline in net sales to Rs 1,073.60 crore in Q4 March 2020 over Q3 December 2019.




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Gillette India skids after Q3 PAT tumbles 40% YoY

Gillette India fell 1.13% to Rs 4,934.50 after net profit slumped 40.31% to Rs 52.38 crore on a 12.66% drop in net sales to Rs 406.57 crore in Q3 March 2020 over Q3 March 2019.




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ICICI Securities firms up after Q4 PAT rises 28% to Rs 156 cr

ICICI Securities jumped 3% to Rs 388.30 after consolidated net profit rose 28.3% to Rs 155.88 crore on a 12.5% rise in total income to Rs 481.94 crore in Q4 March 2020 over Q4 March 2019.




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Sensex up 430 pts; Europe opens in green

At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 433.52 points or 1.38% at 31,876.29. The Nifty 50 index rose 120 points or 1.3% at 9,319.05




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Adani Gas gains after Q4 PAT jumps 60% to Rs 121.41 cr

Adani Gas rose 3.55% to Rs 107.85 after standalone net profit surged 61% to Rs 122 crore on 1% fall in revenue from operations to Rs 490 crore in Q4 March 2020 over Q4 March 2019.




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SBI Card Q4 PAT tumbles 66% on Covid-19 provisions

SBI Card's net profit jumped 43.9% to Rs 1244.82 crore on a 33.8% rise in total income to Rs 9752.29 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19)




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Mahindra Holidays & Resorts India reports consolidated net loss of Rs 164.57 crore in the March 2020 quarter

Sales decline 2.83% to Rs 616.61 crore




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HDFC Asset Management Company standalone net profit declines 9.54% in the March 2020 quarter

Sales decline 2.13% to Rs 476.13 crore




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Swaraj Engines' Q4 PAT falls 4.9% to 15.84 cr

Swaraj Engines' net profit fell 4.9% to Rs 15.84 crore on a 8.5% decline in net sales to Rs 175.13 crore in Q4 March 2020 over Q4 March 2019.




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Shree Cement Q4 PAT jumps 58% YoY to Rs 535 cr

On a consolidated basis, Shree Cement's net profit jumped 57.6% to Rs 535.93 crore on 2.1% decline in net sales to Rs 3,415.14 crore in Q4 March 2020 over Q4 March 2019.




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Carlyle Group to buy 74% stake in SeQuent Scientific

The US-based private equity investor will buy shares at Rs 86 each and the transaction is expected to close in the third quarter of 2020.




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Adani Transmission Q4 PAT slumps 60% YoY to Rs 59 cr

Adani Transmission's consolidated net profit dropped 60% to Rs 59 crore on a 3% decline in operational revenue to Rs 2220 crore in Q4 March 2020 over Q4 March 2019.




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ICICI Bank Q4 PAT rises 26% to Rs 1221 cr

ICICI Bank on Saturday (9 May 2020) said its net profit rose 26.04% to Rs 1,221.36 crore on 12.09% rise in total income to Rs 23,443.66 crore in Q4 March 2020 over Q4 March 2019.




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Nepal detains 45 stranded Chinese after demo turns violent

Nepal police on Friday arrested 45 Chinese nationals stranded in the country because of coronavirus restrictions after a protest turned violent, authorities said. Holding placards such as "I want to go home!" they attempted to push towards a prohibited zone near the prime minister's office in Kathmandu. Some police as well as demonstrators were injured after police used batons to stop them and the protesters threw stones. "They may face charges of protesting in the restricted zone and violating the lockdown under existing laws," police spokeswoman Kiran Bajracharya told AFP. Nepal suspended international flights on March 22 as part of precautionary measures against the spread of the coronavirus, and remain so until at least May 31. While several countries, including the US, the UK, Australia and France have chartered evacuation flights for their citizens in Nepal, no official flights have been made to rescue stranded Chinese nationals.




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COVID-19: Legislation introduced in Congress to give Green Card to 40,000 foreign nurses, doctors

Several American lawmakers have introduced a legislation in Congress to offer the 40,000 unused green cards to thousands of foreign nurses and doctors to meet the urgent needs of the overstretched healthcare sector in the US, the worst hit nation by the coronavirus pandemic. The US has nearly 1,284,000 cases of confirmed COVID-19 cases and over 77,000 people have died due to the highly contagious disease. The Healthcare Workforce Resilience Act would allow for recapturing green cards that were approved by Congress but unused in past years, allowing thousands of additional medical professionals to serve permanently in the United States. The legislation would send green cards to 25,000 nurses and 15,000 doctors during the COVID-19 pandemic and ensure that states like Iowa have the professionals they need to serve patients for years to come, a media release said. The move is likely to benefit a large number of Indian nurses and doctors in the US, who are either on H-1B or J2 visas. The ..




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WHO, UN's postal agency release commemorative stamp on 40th anniversary of smallpox eradication

The WHO and the UN's postal agency have released a commemorative postage stamp on the 40th anniversary of the eradication of smallpox, with the head of the global health body expressing gratitude to a top Indian-origin UN official. In May 1980, the 33rd World Health Assembly issued its official declaration that "the world and all its peoples have won freedom from smallpox." It was ended on the back of a 10-year WHO-spearheaded global effort that involved thousands of health workers around the world to administer half a billion vaccinations to stamp out smallpox. "When WHO's smallpox eradication campaign was launched in 1967, one of the ways countries raised awareness about smallpox was through postage stamps when social media like Twitter and Facebook was not even on the horizon," World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said. "I especially want to thank my friend Mr Atul Khare, United Nations Under-Secretary-General for Operational Support, for ...




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UK plans 14-day compulsory quarantine for all airport arrivals

The UK is planning to bring in compulsory 14-day quarantine for all travellers arriving in the country from any part of the world, except the Republic of Ireland, as part of measures to track the spread of coronavirus, according to UK media reports. The new restriction, which means travellers including Britons arriving in the UK would have to self-isolate at a private residence and fined up to 1,000 pounds or deported for flouting the rules, is expected to take effect at the end of this month. According to The Times', the quarantine will form part of the announcements when British Prime Minister Boris Johnson makes a televised address to the nation on Sunday in relation to the COVID-19 lockdown. He has vowed to move with maximum caution as he reopens the economy by lifting some of the social distancing measures and stay-at-home orders next week, enabling people to exercise more than once a day and visit garden centres. These measures will help protect the British public and reduce the




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ReNew Solar Power lowest bidder for 400MW projects

ReNew Solar Power Pvt Ltd has emerged as the lowest bidder at a tariff of Rs 2.90 per unit for 400 MW renewable energy capacity put on auction by Solar Energy Corporatindia (SECI). SECI concluded the auction this evening for 400 MW renewable energy capacity, an industry source said. The developers can develop solar, wind, and hybrid projects under this tender. The developers would supply power to the New Delhi Municipal Corporation (NDMC) and Dadra and Nagar Haveli. The second lowest bidder was Greenko Energies Pvt Ltd at tariff of Rs 2.91 per unit for 400 MW projects. These are the round the clock power supply projects which means these could be augmented by energy storage systems.




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C'garh: 4 Naxals, one police official killed in encounter

Four Naxals, including two women, and a police official were killed in an exchange of fire in Rajnandgaon district of Chhattisgarh, police said on Saturday. The incident took place on Friday night at Pardhauni village under Manpur police station limits, located over 150 kms from here, when a team of security forces was out on a counter-insurgency operation, Inspector General of Police (Durg range) Vivekanand Sinha said. Acting on a tip-off about the presence of ultras in the village, security forces had launched the operation. "When the patrolling team was cordoning off the area, Naxals suddenly came out of the village and the encounter broke out between the two sides," he said. "Police Sub Inspector (SI) S K Sharma, who was posted as the Station House Officer at Madanwada police station, lost his life in the gunfight," the IG said. Bodies of the four Naxals were recovered from the spot along with an AK47 rifle, an SLR rifle and two 315 bore rifles, he said. Reinforcement .




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Tendulkar provides financial support to 4,000 underprivileged people

Indian cricket icon Sachin Tendulkar has donated an undisclosed amount to financially help 4,000 underprivileged people, including children from Brihanmumbai Municipal Corporation (BMC) schools, amid the COVID-19 pandemic. Tendulkar made the donation to the Hi5 Foundation, a non-profit organisation based out of Mumbai. "Best wishes to team Hi5 for your efforts in supporting families of daily wage earners," Tendulkar tweeted. The organisation, through a tweet, thanked Tendulkar for doing his bit for the needy. "Thanks @sachin_rt for proving once again that #sports encourages compassion! Your generous donation towards our #COVID19 fund enables us to financially aid 4000 underprivileged people, including children from @mybmc schools. Our budding sportspersons thank you, Little Master!" The legendary batsman had earlier contributed Rs 25 lakh each to Prime Minister's Relief Fund and Chief Minister's Relief Fund for the country's fight against COVID-19. Tendulkar had earlier pledged to ...




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SBI complains to CBI after Rs 411 crore loan defaulter flee country

Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said. The company had three rice milling plants, besides eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said. Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said. The Central Bureau of Investigation (CBI) did not carry out any searches in the matter because of the




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Chidambaram welcomes Centre's decision to borrow additional 4.2 lakh cr

Senior Congress leader P Chidambaram on Saturday welcomed the Centre's decision to borrow additional 4.2 lakh crore and said it should be used to provide relief to the poor and re-start the economy. "After resisting our appeals, especially through statements of the CEA, the government has finally decided to borrow an additional amount of Rs 4.2 lakh crore taking the projected fiscal deficit to 5.38 per cent. We welcome the decision," he said in a statement. The senior Congress leader, however, said, "It is not enough to borrow more unless the amount is used to provide relief to the poor and to re-start the economy. We look forward to the revised expenditure budget for 2020-21." Echoing similar sentiments put forth by several eminent economists, he had appealed to the central government to shed its reservations and borrow more in 2020-21. "In our view, the budgeted fiscal deficit of 3.5 per cent should not be a constraint in these extraordinary times," he said in the statement. The ...




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Delhi govt issues 4.75 lakh e-tokens to buy liquor

The Delhi government has so far issued around 4.75 lakh e-tokens to buy liquor in the national capital, an official said on Saturday. Under the e-token system, customers are given specific time for purchasing alcohol so that there is no violation of social distancing norms by people queuing up outside liquor stores. The e-token is sent on mobile phones of registered people. The new system was introduced on Thursday in the wake of long queues outside liquor vends and people not following social distancing norms there. The Delhi government has allowed around 200 liquor shops to operate in the city. "The government has so far issued around 4.75 lakh e-token since Thursday evening to people to buy liquor without standing in long queues," the official said. People willing to get e-token can apply through a web link www.qtoken.in where they are allotted specific time for purchasing liquor after they fill personal details. According to the official, the e-token system is maintaining social ..




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Adani Transmission Q4 net down 60 pc at Rs 59 cr on one-time writeoff

Adani Transmission on Saturday reported a 60 per cent drop in consolidated net profit at Rs 58.97 crore for the March quarter. The fall was mainly on account of a one-time writeoff of Rs 185 crore finance sunk cost, it said in a regulatory filing. The company's consolidated net profit stood at Rs 146.7 crore in the quarter ended March 31, 2019. Total income of the company rose to Rs 3,317.51 crore in the quarter under review from Rs 2,569.16 crore in the year ago period. For full fiscal 2019-20, consolidated net profit rose to Rs 706.49 crore, from Rs 559.20 crore in 2018-19.




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Mathura: Kidnapped child rescued within 24-hrs

Police on Saturday rescued the three-year-old child who was kidnapped from near his house in Uttar Pradesh's Mathura district, an official said. The child was missing since Friday morning after he went to play outside his house in Parasuram Colony in Raya area. In the early hours on Saturday, police found the child at a temple in Tabaka village which is around 10-km away from Raya, said SSP Gaurav Grover. The six teams formed to investigate the case were in the area since Friday afternoon, he said. The child's father, who is a lekhpal' (revenue official), said due to sincere efforts of police and checkposts at various places the kidnappers had to release his son. Meanwhile, the search for the kidnappers is on, an official said.




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Mahindra Holidays posts Rs 161.51 cr loss in Q4

Mahindra Holidays & Resorts India Ltd on Saturday reported a consolidated loss after tax of Rs 161.51 crore for the fourth quarter ended March 2020. The company had posted a consolidated net profit of Rs 52.35 crore in the same period a year ago, Mahindra Holidays & Resorts India said in a regulatory filing. Revenue from operations in the fourth quarter stood at Rs 616.61 crore, as against Rs 634.59 crore in the year-ago period. The company said in the fiscal ended March 2020, it posted a consolidated loss after tax of Rs 134.26 crore. It had posted a consolidated profit after tax of Rs 59.57 crore in 2018-19. Revenue from operations in 2019-20 stood at Rs 2,371.87 crore, as compared to Rs 2,238.99 crore in the previous year.




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ReNew Solar Power bags 400 MW renewable energy projects at Rs 2.90/unit: MNRE

ReNew Solar Power has bagged 400 MW renewable energy projects at a tariff of Rs 2.90 per unit in an auction, according to an MNRE statement. The Solar Energy Corporation of India (SECI), a central public sector undertaking, conducted e-reverse auction for the 400 MW renewable energy projects with round-the-clock supply. "India's renewable energy (RE) sector has witnessed history today, as the e-reverse auction (e-RA)for 400 MW RE projects with round-the-clock supply was concluded at an astounding first year tariff of Rs 2.90/kilowatt hour (kWh)," the Ministry of New and Renewable Energy (MNRE) said. The capacity of 400 MW has been awarded to ReNew Solar Power Pvt Ltd after a closely fought auction which saw the lowest tariff drop by 69 paise over the course of almost 3 hours, it said. "Golden chapter added in Indian Renewable Energy story, as e-RA for 400 MW RE Projects with Round the Clock (RTC) supply conducted by SECI Ltd results in historic 1st year tariff of Rs 2.90/kWh. MNRE ...




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Realtors body Credai reports 40-50 pc hike in cement, steel prices; alleges cartelisation

Realtors' apex body Credai on Saturday said cement and steel rates have increased by 40-50 per cent in last few weeks despite the lockdown and alleged price cartelisation and unfair trade practices by the manufacturers. The association has written a letter to Minister of Housing and Urban Affairs Hardeep Singh Puri seeking his intervention in the matter. "We would like to bring your attention to the cartelization by the cement and the steel manufacturers by imposing a sudden increase in their selling price," Credai said in the letter. Across various states, there has been an increase of Rs 100-250 per bag cement and about Rs 2,000-2,500 per tonne of steel, it added. During the past few weeks, there has been a sudden, steep increase in prices of essential raw materials such as cement and steel by 40-50 per cent despite the nationwide lockdown. The Centre has allowed construction work on sites where labourers are already available. Given the current crisis faced by the real estate ...




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ICICI Bank Q4 net rises 26 pc to Rs 1,221 cr

ICICI Bank on Saturday reported a 26 per cent rise in standalone net profit at Rs 1,221 crore for the March quarter. The bank had posted a net profit of Rs 969 crore in the corresponding January-March period of 2018-19. Total income during the quarter under review increased to Rs23,443.66 crore, from Rs20,913.82 crore in the same period of the preceding fiscal, ICICI Bank said in a regulatory filing. On the assets front, gross non-performing assets (NPAs) stood at5.53 per cent of gross advances as on March 31, 2020, compared to 6.70 per cent last year. Net NPAs or bad loans were trimmed to 1.41 per cent as against 2.06 per cent.




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AP reports three COVID-19 deaths,43 cases; tally now 1,930

: The number of active COVID-19 cases slid below the 1,000 mark to 999 in Andhra Pradesh on Saturday though the overall tally rose to 1,930 with the addition of 43 in the last 24 hours ending 9 am. The COVID-19 toll in the state also increased by three to 44 while 45 more patients were discharged from hospitals, according to the latest bulletin. Chittoor district saw a sudden spurt in cases, with 11 reported in the last 24 hours ending 9 am on Saturday, as some people who returned from Koyambedu wholesale market in Chennai city tested posted for coronavirus. It is suspected that these people contracted the disease at Koyambedu and several others who also returned from the place were sent to quarantine, sources here said. Visakhapatnam too continued to show an upward trend as five fresh cases were registered, taking the total in the district to 62. The major hotspots Kurnool, Krishna and Guntur reported six, 16 and two fresh cases. In the last 24 hours, Krishna reported two




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302 Shramik Special trains run so far, around 3.4 lakh migrants ferried: Railways

The Indian Railways has operated 302 Shramik Special' trains since May 1 and ferried home more than 3 lakh migrants stranded in various parts of the country amid the coronavirus-induced lockdown, officials said. The national transporter has planned to operate 47 trains on Saturday, out of which 34 trains have already departed, they said. Every Shramik Special train has 24 coaches, each with a capacity of 72 seats. The railways, however, is allowing only 54 people in a coach to maintain social distancing norms by not allotting the middle berth to any passenger. While the railways has not yet announced the cost incurred on the special services, officials indicate the national transporter has spent around Rs 80 lakh per service. The government had earlier stated that the cost of the services has been shared on 85:15 ratio with states. Since the beginning of running the Shramik Special trains, Gujarat remained one of the top originating stations followed by Kerala. Among the receiving ...




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COVID-19: HC extends by 45 days interim bail of 2,177 under-trial prisoners

The Delhi High Court on Saturday extended the interim bail of 2,177 under-trial prisoners by 45 days to de-congest jails in the wake of the coronavirus pandemic. A bench of Justices Siddharth Mridul and Talwant Singh passed the order in view of a high-power committee's recommendation that it would be dangerous to put the prisoners back in jail as the risk still remains high. The committee, headed by Justice Hima Kohli, on May 5 opined that since there was a paucity of space in jail premises to create sufficient number of isolation wards for the prisoners returning after expiry of their interim bail, the relief should be extended by another 45 days. During the hearing, Delhi government standing counsel Rahul Mehra and advocate Chaitanya Gosain, appearing for the prison authorities, said they have no objection to the extension of bail. "Accordingly, it is ordered that the interim bails for a period of 45 days granted to 2,177 UTPs, in view of the recommendations of HPC...are hereby ...




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Active COVID-19 cases rise to 1,800 in UP; Recovery rate 43 per cent: Official

The number of active cases of coronavirus in Uttar Pradesh went up to 1,800 on Saturday, while nearly 1,400 people have been discharged so far, a senior official said. Principal Secretary, Health, Amit Mohan Prasad said the national recovery percentage was 30 per cent but the figure was 43 per cent in Uttar Pradesh. "It is a matter of satisfaction that people are recovering and returning home," he said. The number of active infection cases is 1,800 as against 1,761 on Friday, while the number of people who have fully recovered has risen from 1,387 to 1,399, the official said. Prasad stressed that community surveillance will play an important role in coming days with the return of tens of thousands of migrants. There was a need for the 'gram nigrani samitis' in rural areas and 'mohalla nigrani samitis' in urban areas to work strictly, he said. "All those returning (to the state) are being kept in 21 days' home quarantine and those returning from abroad are also being put in quarantine.




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Over 1 lakh migrants to return to UP on 114 trains by Saturday night: Official

Over 1 lakh migrant workers from Uttar Pradesh stranded in different parts of the country following the coronavirus-induced lockdown will return to the state by Saturday night on 114 trains, a senior government official said. Another 98 trains will reach the state on Sunday and Monday, while talks are on to allow 15 to 20 more, he said on Saturday. "Till Saturday morning, 97 trains have reached the state and another 17 will reach by the evening. With this, more than 1.20 lakh migrant workers and labourers will be back in the state," Additional Chief Secretary, Home, Awanish Awasthi said. These trains arrived at 36 railway stations of the state, with Lucknow and Gorakhpur receiving 11 trains each, he said. Awasthi said Chief Minister Yogi Adityanath has stressed that no migrant should undertake the journey home on foot or bicycle. The government has also given permission for 98 more trains which will bring back migrants from other parts of the country on Sunday and Monday, he said, ...