Prakash Industries shares rose 5 percent in the early trade on December 12 after the company declared that its bid for the Bhaskarpara coal mine has been successful.The company had participated in the eighth tranche of coal blocks auction conducted by Coal Ministry and emerged as the highest bidder for the Bhaskarpara Coal Mine in Chhattisgarh, company said in the BSE release.The company on December 11, received a communication from the nominated authority i.e. Ministry of Coal, Government of India, declaring the company as the successful bidder for the coal mine.Close It is now required to execute the coal mine development and production agreement with the nominated authority, subsequent to which the vesting order will be issued to the company. related news D-Street Buzz: Metal stocks under pressure led by Hindalco; Sterlite Tech jumps 10%, YES Bank tanks Adani Transmission hits 52-week high on stake sale in a subsidiary IDBI Bank share price rises 3% as board … [Read more...] about Prakash Industries up 5% on winning bid for a coal mine
Challenges facing retail industry
Hindustan Petroleum Corporation (HPCL) is auto-booking LPG cylinders for inactive customers covered under the Pradhan Mantri Ujjwala Yojana (PMUY) without their knowledge, reports Business Standard.This move by the state-run oil marketing company (OMC) comes after it emerged that LPG refills under the scheme have been falling. HPCL, however, termed it as an 'outreach and awareness' exercise, it added.Moneycontrol could not independently verify the report.Close The company has auto-booked first refills for at least five million customers (25 percent) subsidised under the PMUY, the report said. HPCL covers 20 million of the scheme’s 80.3 million customers. related news IUML moves SC challenging Citizenship (Amendment) Bill From 'landmark day' to 'dark day': How political leaders described passage of Citizenship (Amendment) Bill in Rajya Sabha This has created problems at the distributor's end as customers are reluctant to accept cylinders they did not … [Read more...] about HPCL auto-booking LPG refills under PMUY without customers’ knowledge: Report
Will it be ‘third time lucky’ for Richard Branson in Mumbai? The founder of British airline Virgin Atlantic surely hopes so. In October, the carrier for the third time in its 20-year history in India, launched services between Mumbai and London.Virgin Atlantic first pulled back from Mumbai in 2008. Four years later, it relaunched with much fanfare only to pull back in 2015. All the while, Virgin Atlantic continued with its Delhi-London flights. The British capital is the busiest long haul destination from India. While giving out hope that there won't be a fourth time, Branson underlined that it was an opportune time for his airline to come back to Mumbai. His colleague Juha Jarvinen, EVP, Commercial, explained: "In the last five years, the market in Mumbai has grown by 25 percent. And, despite Virgin Atlantic launching services, the capacity in the Mumbai-London route is still down 35-40 percent (compared to 2018)." The opportunity has come up after Jet Airways, which … [Read more...] about Mumbai calling for Virgin Atlantic: Will it be ‘third time lucky’ for Richard Branson?
The Congress severely criticised the passage of the Citizenship (Amendment) Bill by Parliament in party president Sonia Gandhi saying it marks a "dark day" in the constitutional history of India and is a "victory of narrow minded and bigoted forces" over the country's pluralism.The Citizenship (Amendment) Bill, which seeks to provide Indian citizenship to non-Muslim migrants from Pakistan, Bangladesh and Afghanistan, was passed by Rajya Sabha on Wednesday. Lok Sabha cleared the Bill on Monday.Several senior Congress leaders indicated that the party may move court against the Bill with Abhishek Singhvi saying that the legislation will be legally challenged in the near future as it is "highly suspect" in terms of constitutionality.Close Hitting out at Home Minister Amit Shah over his remarks in support of the Bill, senior Congress leader P Chidambaram told reporters, "The Home Minister says 130 crore people are supporting us, obviously he does not count Assam, Northeast and all other … [Read more...] about Citizenship bill’s passage marks ‘dark day’ in our constitutional history: Sonia Gandhi
Amazon has partnered with Onida to bring its Fire TV edition smart televisions in India, to further strengthen its position in the booming consumer durable market in the country.The Fire TV Edition smart TVs were first introduced by Amazon in 2018 in the US and Canada. Earlier this year, the company expanded the range to the UK, Germany and Austria in collaborations with Dixons Carphone, MediaMarktSaturn and Grundig."We have seen great momentum to the Fire TV Edition smart TVs so far. India has been a very important market for our streaming product and we are seeing great uptake of it from across the country. We are confident of a similar response to the TVs also," Sandeep Gupta, Vice President (Fire TV Devices and Experiences) told PTI.Close He didn't comment on the targeted sales. related news Social security bill | Differential EPF rates may boost take-home pay, rejig in gratuity rule proposed Rajasthan govt will launch farmer welfare fund of Rs 1,000cr on … [Read more...] about Amazon brings Fire TV edition smart TVs to India, partners Onida