State-owned BSNL is confident of making timely payment of staff salaries for the month of May, Chairman and Managing Director Anupam Shrivastava said Monday. The company has also tied up with State Bank of India recently for a Rs 1,500 crore loan to meet its working capital requirements, based on a letter of comfort extended by Department of Telecom (DoT). “We are comfortable…We will be able to pay salaries on time this month,” Shrivastava told PTI.

Shares of Bharat Heavy Electricals Limited (BHEL) surged as much as 4.13 per cent in the afternoon trade on Monday after the company reported a 49 per cent year-on-year (YoY) rise in its net profit at Rs 682.70 crore against Rs 457.17 crore logged in the year-ago period.

At 01:07 pm, the stock was trading at Rs 71.10, up 3.04 per cent on the BSE against 0.77 per cent rise in the S&P BSE Sensex at 39,740 level.

MUMBAI: The Reserve Bank of India (RBI) is likely to give a go-ahead to an Enforcement Directorate (ED) probe into Board of Control for Cricket in India’s (BCCI) foreign remittances of close to Rs 2,000 crore without its prior approval during 2009-15, rejecting an exemption request from the board.

BCCI chief executive Rahul Johri and chief financial officer Santosh Rangnekar had met senior RBI officials last week to explain why the money related to the nowdefunct Champions League T20 (CLT20) tournament was remitted overseas without express approval from the banking regulator, RBI insiders said.

NEW DELHI: India’s largest carmaker Maruti Suzuki is evaluating the commercial launch of a small electric car next year amid challenges such as high prices along with lack of adequate charging facilities at the disposal of potential buyers.

While the company will be ready with a vehicle in 2020, the launch will depend on the willingness of buyers to pay more for an electric version, said Maruti Suzuki chairman RC Bhargava.

New Delhi/Berne: As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen such individuals last week itself.

New Delhi: Realty major DLF reduced its net debt by 38 per cent during the fourth quarter of last fiscal to Rs 4,483 crore with the help of funds raised from selling shares to institutional investors.

According to an investors presentation, DLF's net debt has come down "from Rs 7,224 crore in Q3 of FY19 to Rs 4,483 crore in Q4 of FY19".

Mumbai: The benchmark BSE Sensex jumped over 100 points in early trade on Monday driven by gains in banking stocks amid unabated foreign fund inflow.

The 30-share index was trading 128.27 points, or 0.33 per cent, higher at 39,562.99. Similarly, the broader NSE Nifty spurted 28.75 points, or 0.24 per cent, to 11,872.85.

Hyundai Motor India Ltd (HMIL) will bring its fuel cell SUV, the Nexo, to India soon after it launches its fully electric SUV Kona in July this year.

However, the company was not keen to launch hybrid powertrains as the current GST structure did not offer any relaxation on such models, Puneet Anand, senior general manager and group head (marketing) of HMIL, had said on the sidelines of the launch of the Venue in New Delhi.

Sydney: Bitcoin soared to the highest level in a year, extending a run that’s seen prices more than double.

The largest cryptocurrency climbed about 8% Monday to its highest since May 2018, and was trading at $8,678.58 as of 8 a.m. in Tokyo.

MUMBAI: State-run Air India Ltd’s latest bid to sell its real estate assets has found few takers. The national carrier could sell less than 10 of the 56 properties that were put up for sale in April, according to two people directly aware of the development.

The reserve price of these properties, mostly residential units, ranged from ₹16 lakh to about ₹8 crore and were located in cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai and Kolkata.

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