From DHFL’s Q1 numbers to Future Group’s top respectable being held, right here are the testimonies which made to the headlines on Saturday
1. DHFL net loss zooms in March quarter on higher provisioning of Rs 3,280 cr
After months of delay, Dewan Housing Finance Corporation (DHFL) on Saturday released its standalone unaudited outcomes for the March 2019 area in which the crisis-hit company mentioned a net loss of Rs 2,223 crore on account of the additional provisioning of Rs three,280 crores.
2. DRI arrests top government at Future Group over unpaid customs duties
The Directorate of Revenue Intelligence (DRI) arrested a pinnacle govt on the retail conglomerate Future Group, one among the most important retailers within the country, on customs fraud charges involving greater than $2 million of unpaid customs obligations on garment imports, a government statement stated on Saturday.
Three. SBI Payment plans to double PoS units to 1.2 million by March 2022
SBI Payment Services Pvt Ltd (SBIPSPL) is planning to double the number of point-of-sale (PoS) gadgets deployed through it to one.2 million via 2021-22 (FY22). This is part of the company’s strategy to be a key participant within the Centre’s formidable plan to increase the number of PoS terminals across the united states and, thereby, garner an enormous share of digital payments at service provider stores.
4. The multitrillion-dollar black hole engulfing the world’s bond markets
There’s a multitrillion-dollar black hollow growing on the coronary heart of the sector’s financial markets. Negative-yielding debt — bonds worthless, now not greater, if held to maturity — is spreading to more corners of the bond universe, destroying capability returns for buyers and turning the system as we understand it on its head.
5. Infosys completes localization goal for the US, hires 10,000 employees
Infosys has finished its localization goal for the USA via hiring 10,000 employees with the aid of the stop of June quarter. The tech major is planning to raise the wide variety of locals inside the coming quarters for you to construct an worker pyramid.
6. DMart posts sharpest upward thrust in five quarters, margins trump D-Street estimates
Avenue Supermarts, which runs the DMart chain of stores in India, mentioned its sharpest upward thrust in running and net profit margins in 5 quarters, on the top of the June sector (Q1FY20), beating Street estimates.
7. States spending greater on the preservation of vintage roads to get precedence funds
States spending more on the maintenance of vintage roads gets precedence investment under the third section of the agricultural avenue program, consistent with government officials.
Eight. Are you equipped to plug on your Tesla?
India’s first electric SUV released this week. With a good sized push on coverage fronts for the manufacture of electrical vehicles, 2019 ought to well be the yr that EVs go full price beforehand, reports the Livemint.
Nine. Centre takes a dim view of Jagan Mohan Reddy’s plan to tweak electricity tariffs, PPAs
The Andhra government had determined to cancel the PPA and ordered that tariffs be renegotiated as it said tariffs constant all through the regime of N Chandrababu Naidu were higher, reviews the Economic Times.
10. Dip in car sales is not annoying for CEA Krishnamurthy Subramanian
When requested if the disaster in vehicle industry ought to affect GDP increase and thereby putting $5 trillion financial system dream in jeopardy, CEA Krishnamurthy Subramanian stated: “It is simply one part of the economy” and average production area “is doing nicely,” the Hindu Business Line reviews.