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    Mindtree net plunges 41% yearly, 53% quarterly

    Leading IT consulting firm Mindtree on Wednesday reported Rs 93 crore net profit for the first quarter of fiscal 2019-20 against Rs 158 crore in the same period a year ago, which is a 41 per cent annual decline.Sequentially too, the city-based software services firm, reported 53 per cent plunge in net profit from Rs 198 crore a quarter ago.

    • 11 hrs ago
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    IL&FS fallout? After ICRA, Care rating CEO sent on leave

    Care Ratings on Wednesday said the company's board of directors has decided to send Rajesh Mokashi, Managing Director & CEO of CARE, on leave, with immediate effect, until further notice.The Care's is the second rating agency head after ICRA's who has been sent on "leave" after an anonymous complaint to SEBI, the market regulator, alleged that there were lapses...

    • 11 hrs ago
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    6 cities, towns in UP to become 'model' by December

    Lucknow, Varanasi and Mathura will be developed as model cities by the end of December.As per the directives of the National Green Tribunal (NGT), three smaller towns will also be developed on the same lines. These are Budhana in Muzaffarnagar, Dayalbagh in Agra and Orai in Jalaun.Of these, Varanasi and Mathura already rate high in the state government's list of priorities for development...

    • 11 hrs ago
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    Government to sell immovable Enemy Properties this fiscal to mop up revenues

    The government will sell the immovable properties like land and buildings of the Enemy this fiscal to augment the divestment revenues and will also get its share from the proceeds of the non-core asset sales of the CPSEs, a top official said."We got Rs 1,800 crore from the sale of 'Enemy Property' last fiscal and now we are looking at selling land and...

    • 11 hrs ago
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    Punjab & Sind Bank flags Rs 238.3 cr fraud by Bhushan Power & Steel

    After the Punjab National Bank and the Allahabad Bank, Punjab and Sind Bank has reported a Rs 238.30 crore fraud by the Bhushan Power and Steel company.In a regulatory filing on Wednesday, Punjab and Sind Bank said it has been defrauded of Rs 238.30 crore by the Bhushan Power and Steel company (BPSL). "On the basis of Forensic Audit Investigation findings and CBI filing...

    • 12 hrs ago
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    Ex-Branch Manager of Central Bank convicted in fraud case

    A special court hearing CBI cases in Coimbatore sentenced K.Sridhar, former Branch Manager, Central Bank of India and two others in the Rs 1 crore bank fraud case, the investigating agency said on Thursday.In a statement issued here, the Central Bureau of Investigation (CBI) said Sridhar, former Branch Manager, Ooty, retired Lt.

    • 12 hrs ago
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    Sensex opens flat, Yes Bank tanks 10%

    Sensex traded slightly lower after opening on a flat note on Thursday.At 10.14 a.m., the Sensex was trading 55.45 points lower at 39,160.19. It opened at 39,204.47 from its Wednesday's close 39,215.64.The Nifty was trading 20.10 points lower at 11,667.40.Yes Bank was the top loser, down over 10 per cent on the BSE after poor quarterly numbers announced on Thursday.

    • 12 hrs ago
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    'Budget ensures vigilance, short-term liquidity for NBFCs'

    The proposed full Budget 2019-20 ensures strong vigilance and short-term liquidity for non-bank finance companies (NBFCs) and housing finance companies (HFCs), ratings firm India Ratings and Research said on Wednesday.Accordingly, the proposed Finance Bill empowers the Reserve Bank of India (RBI) to undertake corporate restructuring of NBFCs and HFCs in public interest.

    • yesterday
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    Andhra's attempts to renegotiate PPAs to hamper renewable operators' cash flows

    The Andhra Pradesh government's attempts to renegotiate its agreements to purchase solar and wind power will hamper the generators' operating cash flows, Fitch Ratings said on Wednesday.The ratings firm said that it expects the Andhra Pradesh government to face vigorous challenges from the operators of renewable power projects and the Central government.

    • yesterday
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    Jalan panel suggests fund transfer in tranches over 3-5 years

    The Bimal Jalan panel on Wednesday finalised the report on RBI surplus capital and though not unanimous on the quantum of transfer, it has recommended 3-5 year formula for transfer of surplus in tranches to the government.Sources said there will be periodic reviews of Economic Capital Framework (ECF) to follow after each cycle.

    • yesterday

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