MARUTI SUZUKI TO RAISE PRICES ACROSS MODELS FROM JANUARY
NEW DELHI: Maruti Suzuki India on Wednesday said it will increase prices of its vehicles across various models from next month to offset adverse impact of increase in commodity prices and foreign exchange rates. The company, however, did not specify by how much the prices of its vehicles would increase. At present, the company is working out the range, a company official said. “The cost of company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates,” Maruti Suzuki India said in a regulatory filing.
Nissan’s Ghosn faces new under-reporting charge
TOKYO: Ousted Nissan chairman Carlos Ghosn will face a further accusation of under-reporting his salary by about 4 billion yen ($35.5 million) over the last three years, Japanese media reported on Wednesday. Tokyo prosecutors plan to “rearrest” Ghosn along with his right-hand man and former Nissan representative director Greg Kelly by Monday, according to major media including the Nikkei and the Mainichi newspapers. If confirmed, the new allegation will come on top of an existing accusation that the pair conspired to understate Ghosn’s pay by some 5 billion yen in official filings during the 5 years up to March 2015.
Jaypee Infra: NBCC, Kotak among 4 shortlisted bidders
NEW DELHI: State-owned NBCC, Kotak Investment, Singaporebased Cube Highways and Suraksha group have been shortlisted as bidders for debtladen Jaypee Infratech, according to a regulatory filing. Jaypee Infratech is undergoing insolvency proceedings in the NCLT. L&T Infrastructure, which was among the five companies that had submitted expression of interest (EOI), was however excluded from the final list, as per the regulatory filing by Jaypee Infratech. Officials had earlier said that L&T would not be considered for the bidding process as the infrastructure major was only interested in acquiring the 165-km long Yamuna Expressway that connects Delhi-noida to Agra. Jaypee Infratech’s interim resolution professional Anuj Jain said in the filing that the final list of companies for participating in the Corporate Insolvency Resolution Process of Jaypee Infratech Ltd has been prepared as per the IBC regulations.
REC Q2 net profit jumps 25% to ₹1,764 crore
NEW DELHI: State-owned REC posted a 25% jump in standalone net profit at ₹1,764.33 crore for the September quarter, mainly due to higher revenues. The company’s standalone net profit stood at ₹1,407.76 crore in the quarter ended September 30, 2017, it said in a statement. This has been the highest ever quarterly profit declared by the company, it added. Total income of the company grew by 30% to ₹7,299 crore in the second quarter from ₹5,604 crore a year ago. The company sanctioned loans of ₹49,003 crore in the second quarter, which were 120% higher than ₹22,300 crore in the year ago period. It disbursed loans of ₹24,226 crore, which were 76% more than ₹13,751 crore earlier. COMPILED FROM AGENCIES