Category: BUSINESS

New Delhi, Jan 9 (DIN NEWS) Jet Airways has terminated the services of two senior pilots who were involved in a mid-air brawl while operating London-Mumbai flight on January 1. A senior pilot had allegedly slapped a female commander during the flight and following the incident the two were grounded by the airline. “Consequent to the review of the events on board Flight 9W 119 London-Mumbai of January 1, 2018, Jet Airways has terminated services of both the cockpit crew with immediate effect,” a Jet Airways spokesperson said in a statement…

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Mumbai, Jan 9 (DIN NEWS) The BSE Sensex hit a fresh record high of 34,487.52 while NSE Nifty touched life-time high of 10,659.15 in opening session today on smart gains in Coal India , Tata Motors and SBI. Rising for the third straight day, the 30-share index spurted by 134.73 points, or 0.39 per cent, to hit a new peak of 34,487.52. The gauge gained 559.41 points in previous three sessions to close at a record high at 34,352.79 in yesterday’s session. It had also touched an intra-day lifetime high of…

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The country’s largest car maker Maruti Suzuki India (MSI) plans to expand the sales network for its light commercial vehicle ‘Super Carry’ as it aims to be a significant player in the segment. The company, which launched Super Carry in September 2016, is seeing good traction in the light commercial vehicle (LCV) segment that is dominated by players like Tata Motors and Mahindra & Mahindra. “The retail network is being rolled out in phases. Currently Super Carry is being retailed through 162 new commercial outlets in 140 cities across 25…

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The electoral bonds mechanism is a substantial improvement in transparency over the present system and the government is open to suggestions to further cleanse political funding, Finance Minister Arun Jaitley said on Sunday. In a Facebook post, Jaitley said the conventional practice of funding the political system was to take donations as well as undertake expenditures in cash. The sources are anonymous or pseudonymous. The quantum of money was never disclosed and the system ensures unclean money coming from unidentifiable sources. “It is a wholly non-transparent system. Most political groups…

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The government said today there is sufficient capacity for storage of food grains at the national level. During the Question Hour in Rajya Sabha, Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan said that the peak time requirement of the capacity required is 600 lakh metric tonne. “Against this, the total storage capacity available with Food Corporation of India (FCI), Central Warehousing Corporation (CWC) and state agencies along with the hired capacity was 726.18 lakh metric tonnes as on November 30, 2017,” he said. As such there…

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NSE benchmark Nifty finished at a record high today following sustained buying in media, infra, private bank, auto, realty and pharma sectors amid bullish global cues. Global markets rose after the US stock indices closed at all-time highs yesterday, while the Dow topped the 25,000-mark for the first time. The NSE Nifty opened higher at 10,534.25 and moved in a range of 10,566.10 — its record high intra-day high — to 10,520.10 before ending at 10,558.85, up 54.05 points, or 0.51 per cent. It saw an intra-day movement of about…

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Idea Cellular today unveiled a plan to raise up to Rs 6,750 crore which will alter the shareholding pattern of the company and have a bearing on its merger agreement with Vodafone. The board of Idea Cellular today approved raising about Rs 3,250 crore from entities under the promoter Aditya Birla Group (ABG) and constituted a committee to evaluate potential routes for raising further capital of up to Rs 3,500 crore. In a separate statement, Vodafone Group said that as a consequence of the change in shareholding in Idea following…

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Exide Industries Ltd has launched a new range of automotive batteries, the company said today. The ‘Epiq’ range of batteries come with a six-year warranty, “the highest” in the Indian market, it said in a release here. The new batteries will be manufactured at Exide’s factories across India, and sold through its 1,500 premium Exide Care outlets. Without detailing the price, the company said ‘Epiq’ will be positioned and targeted at the highest end of the automotive battery aftermarket, and will its most premium vehicular battery. ‘Epiq’ will be the…

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The Cabinet Committee on Economic Affairs (CCEA) today extended the mandatory packaging of foodgrains and sugar products in jute bags for the year ending June 2018. “This decision mandating 90 per cent of food grains and 20 per cent sugar products to be packed in jute bags will benefit nearly 3.7 lakh workers and 40 lakh farmers,” Union Textiles Minister Smriti Irani tweeted. She said the Jute mill workers will not be deprived of their statutory dues as a special mechanism will be set up in consultation with state governments…

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Ending its four-session rise, the rupee today retreated from its multi-year high and ended marginally lower by 5 paise at 63.53 against the US currency on fresh bouts of dollar demand from importers and banks. However, a stream of robust capital inflows from foreign investors and large corporates largely limited the fall. In the last four-day surge, the Indian currency had strengthened by a whopping 67 paise against the dollar. The rupee yesterday ended at a nearly 2-1/2 year high even as speculative traders turned little cautious, a dealer commented.…

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