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DGCA sets new rules for duty timings of air traffic control employees

January 23, 2023 by www.moneycontrol.com

The “watch duty time limitations and rest requirements” set forth by the DGCA on January 11 for controllers state that an air traffic controller's shift cannot last longer than 12 hours (Representative Image) The Directorate General of Civil Aviation ( DGCA ) rejected the Airports Authority of India ( AAI ) proposal to provide relaxation for airports with fewer flights in order to enable it to overcome a manpower shortage and instead issued new rules for the duty hours of air traffic controllers, as per a report in The Hindu . Although a version of these rules was initially announced in November 2020, the AAI found it challenging to comply with them because it required more staff to offer the required rest period. Since then, it has requested exemptions five times and suggested various duty hours for four distinct types of airports based on the volume of air traffic they handle: large airports, or those with more than 400 flights per day, as well as airports with up to … [Read more...] about DGCA sets new rules for duty timings of air traffic control employees

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UK man fined Rs 10,000 for exceeding parking time limit at McDonald’s

January 25, 2023 by www.moneycontrol.com

The incident occurred at a McDonald's outlet in Cambridge. (Representational image) A UK man’s McDonald’s meal became the most expensive he had ever had after he was fined £100 (Rs 10,000) by a private parking company for taking too long to eat in the car park. Shapour Meftah received two penalty notices from a private car parking company at his home for his visit to the restaurant at New Market Road in Cambridge on January 4 and 6 respectively. His brother too has received the penalty tickets. "It was parking from hell - the most expensive McDonald's I've ever had", Meftah told local news outlets. He was meeting his brother at the fast food chain and spent eating for over 90 minutes – the maximum parking time allotted by the parking company. If he doesn't pay the fine within a week then the fine will go up to £100 each. He went for help at the McDonald’s too but they were not able to do anything. Meftah also claimed that there was no signage at the restaurant that … [Read more...] about UK man fined Rs 10,000 for exceeding parking time limit at McDonald’s

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India inks pact with South Africa to bring cheetahs; 12 to arrive in February

January 27, 2023 by www.moneycontrol.com

(Photo: ANI) India has signed an agreement with South Africa to translocate 12 cheetahs to the Kuno National Park in Madhya Pradesh, a senior official in the Union Environment Ministry said on Friday. The pact was signed last week and seven male and five female cheetahs are expected to reach Kuno by February 15, he said.  The South African environment department in a statement on Thursday said the plan is to send 12 cheetahs every year for a decade. India has not released any statement in this regard so far. The 12 South African cheetahs have been in quarantine since July last year and were expected to reach Kuno this month but "some processes in South Africa took some time", delaying the transfer, according to the official. It is expected that the South African authorities will soon receive an export permit and a certificate under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) for the transfer of the animals, he said, adding … [Read more...] about India inks pact with South Africa to bring cheetahs; 12 to arrive in February

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Mercedes-Benz India has done a great job in promoting mutual fund SIPs: A. Balasubramanian

January 27, 2023 by www.moneycontrol.com

Aditya Birla Sun Life AMC MD & CEO A Balasubramanian A. Balasubramanian, the managing director and chief executive officer of Aditya Birla Sun Life Mutual Fund, weighed in on remarks by a Mercedes-Benz India executive’s comments on Systematic Investment Plans (SIPs). Santosh Iyer, the current Mercedes-Benz India chief executive officer Santosh Iyer, had said in published remarks before taking the helm that SIPs posed competition to the luxury car maker. “In fact, he has made people realize two things. One, you can buy a Mercedes car by investing in an SIP, and in a way, he has promoted SIP as a concept,” Balasubramanian said. Edited excerpts: Your alternative career choice, if not the CEO of an AMC like this? Don’t tell me it’s that of a stock picker or for that matter a portfolio manager, which you have already been, but something else. Read More I can get into agriculture, farming. An inspirational quote that you keep in mind while managing … [Read more...] about Mercedes-Benz India has done a great job in promoting mutual fund SIPs: A. Balasubramanian

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NBFC Avanse Financial Services raises Rs 800 crore from Kedaara Capital

January 19, 2023 by www.moneycontrol.com

Representative Image Lending firm Avanse Financial Services (Avan) has raised a primary capital of Rs 800 crore from Kedaara Capital, the firm said a January 19. The funds would be deployed to expand presence and outreach by lending to Indian students and towards the development of the Indian education ecosystem. Warburg Pincus continues to be the majority shareholder in the company, the statement said. “The growth capital will enable us to strengthen our brand proposition, integrate digital solutions and innovate to build more depth into our product range as we work towards delivering greater stakeholder value,” founder Amit Gainda said in the statement. Founded in 2013, Avanse is a tech and education-focused non-banking financial company that aims to provide financing to students.  It offers student loans, professional loans like skill enhancement as well as institution loans. As the world recovers from the coronavirus pandemic, the company was seeing a significant … [Read more...] about NBFC Avanse Financial Services raises Rs 800 crore from Kedaara Capital

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Bajaj Finance Q3 net profit surges 40% to Rs 2,973 crore, meets estimates

January 27, 2023 by www.moneycontrol.com

The average estimate of a poll of five brokerages by Moneycontrol had put Bajaj Finance’s net profit at Rs 2,928 crore Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Bajaj Finance Ltd reported on January 27 a consolidated net profit of Rs 2,973 crore, a jump of 40 percent year-on-year (YoY) for the December quarter, largely in line with analysts’ expectations. The average estimate of a poll of five brokerages by Moneycontrol had put the lender’s net profit at Rs 2,928 crore for the quarter compared with Rs 2,125 crore reported in the corresponding quarter a year ago. On a standalone basis, the non-bank finance company's net profit grew by 36 percent to Rs 2,624 crore. The net profit surge comes on the back of a healthy growth in disbursements that lifted net interest income by 24 percent to Rs 7,435 crore for the December … [Read more...] about Bajaj Finance Q3 net profit surges 40% to Rs 2,973 crore, meets estimates

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Hold Syngene International; target of Rs 610: ICICI Direct

January 28, 2023 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × ICICI Direct's research report on Syngene International Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma/chemical companies offering integrated scientific services from early discovery to commercial supply. Syngene serves these players, which outsources some or substantial part of its business in the product development life cycle and operates via full time equipment (FTE) and fee for services (FFS) models • Discovery services: FTE engagements with high renewability; dedicated services: long-term strategic alliances that last usually five years or more, Development and manufacturing: FFS engagements, which increase in volume/scale over time. Outlook Downgrade from BUY to HOLD as the stock fully reflects strong … [Read more...] about Hold Syngene International; target of Rs 610: ICICI Direct

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Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order

January 27, 2023 by www.moneycontrol.com

An Air India aircraft. As the Tata group completes the first year of taking over Air India, the airline on Friday said it is finalising a historic order of new aircraft while the airline's chief Campbell Wilson highlighted that the carrier's progress has been quite remarkable. Stepping into the second year of Air India 2.0, Wilson, in a message to employees, acknowledged that there will be challenges along the way and emphasised that more than successes, "it is how we respond to our lapses ... that will define us". The airline has put in place a roadmap under Vihaan.AI for transformation over the next five years and has taken various measures, including committing USD 400 million to refurbish the interiors of its entire wide-body fleet. However, in recent weeks, the carrier has faced certain headwinds related to the unruly behaviour of passengers onboard two international flights and has also been penalised by the aviation regulator DGCA. Listing out major initiatives, … [Read more...] about Air India has made ‘quite remarkable progress’: CEO; airline finalising historic aircraft order

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Air India likely to seal half of jumbo plane order with Boeing today

January 27, 2023 by www.moneycontrol.com

January 27 marks one year of Air India (AI) returning to the Tata fold Air India is set to place an order for 190 Boeing 737 MAX narrow body planes along with 20 Boeing 787s and 10 Boeing 777X today, a Reuters report quoted industry sources as saying. The order comes on a day when Tata Group will mark the first anniversary of its acquisition of Air India from the government. This is half of the order worth billions of dollars for around 495 jets, the report quoted industry sources as saying. This is part of an effort by the Tata group to make Air India more competitive in a tough aviation market. The other half of the order, sources told Reuters, is expected to be completed over coming days. This includes around 235 Airbus single-aisle jets and about 40 Airbus A350 widebody aircraft. The order comes at a time when the travel industry is seeing a strong post-COVID surge. Read More Flying high Marking the first anniversary of the take over, Air India … [Read more...] about Air India likely to seal half of jumbo plane order with Boeing today

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UltraTech expects 95-100 percent capacity utilization in fourth quarter

January 27, 2023 by www.moneycontrol.com

UltraTech Cement | CMP: Rs 6,860 | The stock tumbled over 4 percent after the company reported a consolidated net profit of Rs 1,062.58 crore for the December quarter, down 37.86 percent from the year-ago period. UltraTech Cement's revenue from operations, however, rose 19.53 percent to Rs 15,520.93 crore from Rs 12,984.93 crore in the corresponding quarter of the last year, the Aditya Birla Group company said on January 21. While the profit missed estimates, revenue was higher than expected. According to a brokerage poll conducted by Moneycontrol, net profit was seen at Rs 1,105.2 crore and consolidated revenue at Rs 15,191.5 crore. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Capacity utilization at India’s largest cement maker, UltraTech Cement , could touch 95 percent to 100 percent in the March quarter, company executives … [Read more...] about UltraTech expects 95-100 percent capacity utilization in fourth quarter

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