The cold stores need to run 24X7 to preserve the stored goods. The compressors cannot be shut down even when the capacity is not fully utilized. The movement of perishables to and from cold stores has considerably reduced during the lockdown period and has led to severe liquidity crunch for the promoters,” said Harsimrat KaurContinue reading
Close on the heels of inking 17 MoUs , attracting over Rs 15,000 crore worth investments to the state, Tamil Nadu chief minister Edappadi K Palaniswami has directly reached out to 13 global heads of prominent companies in the electronic sector. https://www.financialexpress.com/economy/tamil-nadu-reaches-out-to-tim-cook-and-jeff-bezos-for-investments-from-apple-amazon/1975562/
NBFC body Finance Industry Development Council (FIDC) has requested approval for ‘teaser’ kind of one-time restructuring scheme for all loans without provisioning, in a meeting with finance minister Nirmala Sitharaman via video-conference on Friday. https://www.financialexpress.com/industry/nbfc-body-seeks-teaser-kind-of-one-time-loan-restructuring-scheme/1975570/
Officials of the power ministry discussed the need to restructure the power system to make states responsible for the financial health of their power distributions companies (discoms), with the NK Singh-led FC. This would entail recalibrating state borrowing limits under the Fiscal Responsibility and Budget Management (FRBM) Act, to account for the added liabilities, theContinue reading
The three Indian companies are Alpha Design Technologies Pvt Ltd, Bharat Forge Ltd and Medha Servo Drives Pvt Ltd, the space organisation said in a statement on Friday. https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/three-indian-companies-get-licence-to-manufacture-nasas-coronavirus-ventilators/articleshow/76104447.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Cisco has been growing its software services portfolio in a pivot away from its traditional hardware business. It had earlier acquired application performance and monitoring company, AppDynamics, in 2017 for $.3.7 billion. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cisco-to-acquire-networking-monitoring-startup-thousandeyes-led-by-indian-founder/articleshow/76094222.cms
TSW partners with IIT – Ropar to launch a brand new online course in AI & DL. https://economictimes.indiatimes.com/industry/services/education/tsw-partners-with-iit-ropar-to-launch-a-brand-new-online-course-in-ai-dl/articleshow/76030958.cms?utm_source=ET&utm_medium=Homepage&utm_campaign=TPL-76030942
Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed. https://www.moneycontrol.com/news/business/economy/indias-forex-reserves-soar-to-record-high-of-490-04-billion-5334751.html
The automobile industry is headed for another year of double-digit sales decline this fiscal, Crisil said. https://economictimes.indiatimes.com/industry/auto/auto-news/automobile-industry-to-see-double-digit-sales-decline-in-fy21-crisil-research/articleshow/76076529.cms
Online retailer Paytm Mall has held talks with e-grocer Grofers for a potential investment, multiple people in the know told ET, adding that the ongoing discussions may even lead to a merger. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-mall-in-talks-for-grofers-stake-as-softbank-pushes-for-consolidation/articleshow/76082158.cms
