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The situation in the domestic steel sector is still nothing to write home about. In fact, the expected revival of demand from the affordable housing and infrastructure sectors notwithstanding, the overall steel demand is likely to remain weak and fundamentals for the steel sector are likely to weaken in FY20.

Steel demand likely to remain weak in FY20

And that can be attributed to the risk of softening of prices, elevated raw material prices, besides the weak demand,...

15 Aug 2019 1:39 AM IST

Global rating agency Fitch on Monday slashed its GDP forecast for India for FY18 saying growth has repeatedly disappointed in recent quarters.

Risks in sector may rise when banks lend more to NBFCs: Fitch

It said that if banks direct more funds to the sector, mostly the strongest NBFCs are likely to be benefited.

15 Aug 2019 1:35 AM IST

Economic slowdown, coupled with decline in air travel, drop in airline catering business and high GST took its toll on EIHs revenue and profitability.

Amid rumours, Nita Ambani attends EIH AGM

The company which comes under The Oberoi Group also has Rs 84.5 crore dues from the grounded Jet Airways.

15 Aug 2019 1:32 AM IST

Provisioning on IL&FS account and claims from agri-insurance has hit the earnings of state owned General Insurance Corporation of India (GIC Re) that reported 86 per cent drop in year on year net profit for the quarter ended June 30, 2019 to Rs 109 crore.

IL&FS provisions hit GIC Re profit

The net profit was Rs 771.42 crore in the same period of last year. GIC Re is the country's largest reinsurer.

15 Aug 2019 1:29 AM IST

Once activated, the in-app SOS button generates a trigger alert to OYOs Safety Response Team with the guest, booking, location and emergency contact details.

Oyo to invest 300 mn euro to strengthen presence in European vacation...

The firm will aim to expand the presence of OYO Home, Belvilla and Dancenter brands across Europe.

14 Aug 2019 8:03 PM IST

Interestingly, the CBDT chiefs move to make officers comply by seeking a compliance report every three months gives room for hope for justice for the taxpayer.

All communication from tax dept to assessees to carry DIN from Oct 1:...

The CBDT has also specified exceptional circumstances where the communication could be issued manually.

14 Aug 2019 7:13 PM IST

Auto sector employs over 35 mn, contributes more than 7 per cent to GDP and accounts for 49 per cent of manufacturing GDP.

Auto gloom: More layoffs coming in temp, sales, R&D sides

The sector has already culled 3.5 lakh jobs since April.

14 Aug 2019 6:29 PM IST

S V Ranganath appointed as the interim chairman of the Coffee Day Enterprises.

Coffee Day Enterprises to sell its tech park to Blackstone for up to...

The transaction valuation is about Rs 2600-3000 cr and the company has entered into a non-binding letter of intent.

14 Aug 2019 5:50 PM IST

Gold was available for $2 premium over and above the landed rate 15 days back. After the steep rise, it is now available for a discount of $14 per ounce, said Suresh Hundia, former President of the Bombay Bullion Association.

Gold loses sheen, falls Rs 425 on lacklustre demand; silver slips Rs...

Gold is trading at Rs 37,945 per 10 gram in the national capital due to lacklustre demand from jewellers.

14 Aug 2019 5:25 PM IST

Reserve Bank of India (RBI)

Jalan panel finalises report; suggests transfer of RBI's surplus in...

As per various estimates, the RBI has over Rs 9 lakh crore of surplus capital with it.

14 Aug 2019 5:20 PM IST

Auto sector employs over 35 mn, contributes more than 7 per cent to GDP and accounts for 49 per cent of manufacturing GDP.

Auto industry hails PM's assurance on co-existence of conventional...

Auto industry has been opposing proposal by Niti Aayog to push for full conversion to EVs for ICE three-wheelers by...

14 Aug 2019 5:06 PM IST

By taking India off the list, exports of $5.6 billion would be affected in leather products, carpets, textiles, gems and jewellery etc.

Exports growth to be in double digits this fiscal: Commerce Secretary

Growth in exports was between nine and ten per cent and the volume touched USD 331 billion.

14 Aug 2019 4:57 PM IST