ADVERTISEMENT

Mumbai

Sun Pharma, AstraZeneca enter into distribution agreement for ticagrelor in India

ADVERTISEMENT
Sun Pharmaceutical Industries Ltd. and AstraZeneca Pharma India Limited today said they have entered into a distribution services agreement in India for AstraZeneca’s brand “Axcer”, a new brand of ticagrelor, a drug used for the treatment of acute coronary syndrome (ACS) . 
 
AZPIL already has a brand under the trademark “Brilinta” for ticagrelor molecule, launched and marketed by AZPIL in India since 2012. 
 
Abhay Gandhi, CEO - India Business, Sun Pharma said, “We are happy to collaborate with AstraZeneca to provide customers access to this latest generation treatment option for ACS. Such collaborations are also a part of our stated policy of becoming the partner of choice for promotion and distribution of innovative pharmaceutical products in the country.” 
 
Sanjay Murdeshwar, Managing Director, AstraZeneca Pharma India Limited said, “We are pleased to collaborate with Sun Pharmaceuticals to bring this innovative treatment solution to a larger number of ACS patients in India. Ticagrelor works by preventing the formation of new blood clots and maintains blood flow in the body, helping reduce a patient’s risk of another heart attack or cardiovascular-related death.” 
 
Sun Pharma will be promoting and distributing “Axcer” brand in India. This collaboration enables AstraZeneca to expand usage of this molecule through wider reach to physicians and thereby benefiting a greater number of ACS patients. It strengthens Sun Pharma’s cardiology portfolio with the addition of a new patented therapy, a press release from Sun Pharmaceuticals said.
 
Ticagrelor is a direct-acting, selective and reversibly binding P2Y12 receptor antagonist in a chemical class called cyclo-pentyl-triazolo-pyrimidines (CPTPs). Ticagrelor works by inhibiting platelet activation.
 
NNN
ADVERTISEMENT
 

See News Videos

Meena Hemchandra takes charge as new Executive Director at RBI

Meena Hemchandra
Meena Hemchandra
Ms. Meena Hemchandra took over as the new Executive Director at the Reserve Bank of India (RBI) here yesterday and will look after Department of Banking Supervision, Department of Co-operative Banking Supervision and Department of Non-Banking Supervision.
 
Mr Chandan Sinha, Executive Director who was earlier looking after these Departments will now look after Department of Information Technology, Department of Payment and Settlement Systems, Foreign Exchange Department and Financial Markets Regulation Department (including Market Intelligence), a press release from RBI said.
 
The portfolios of other Executive Directors remain unchanged, the release said.
 
Prior to her appointment as Executive Director, Ms. Hemchandra was in charge of Department of Supervision. She has also been the Principal of the Reserve Bank’s College of Agricultural Banking, Pune. Her earlier experience also includes Department of External Investment and Operations that manages the country’s reserves and Foreign Exchange Department.
 
A Chartered Financial Analyst (CFA) from the Institute of Chartered Financial Analysts of India (ICFAI), Ms. Hemchandra also holds a post graduate degree in Economics.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Reliance to sell stake in Eagle Ford JV to Enterprise Products Partners for $ 1.07 billion

ADVERTISEMENT
Reliance Holding USA, Inc., a subsidiary of energy and petrochemicals major Reliance Industries Limited (RIL), today said it had signed definitive agreements for the sale of its entire holding of 49.9% interest in EFS Midstream LLC (EFS) to an affiliate of Enterprise Products Partners L.P. for a total consideration of approximately $1.073 billion.
 
Under the terms of the definitive agreements, Enterprise will pay Reliance approximately $574 million in cash at closing and make the final payment of $499 million in cash on or before the first anniversary of the closing date, a press release from RIL said.
 
The proposed transaction is subject to regulatory approvals and other closing conditions that are customary for similar transactions, it said.
 
EFS is jointly owned by an affiliate of Reliance and an affiliate of Pioneer Natural Resources Company, with their respective ownership interests being 49.9% and 50.1%. EFS provides gathering, treating and compression services and condensate stabilization operations in the Eagle Ford Shale for the Reliance-Pioneer Upstream Joint Development and to third parties. 
 
Since inception in 2010, EFS has built significant midstream infrastructure, which now comprises 10 central gathering points, 460 miles of gathering pipelines, 119 Mboepd of condensate stabilization capacity and 780 mmcfd of natural gas treating capacity. 
 
The release said Reliance’s agreement to sell its interest in EFS is part of a joint transaction, wherein both Reliance and Pioneer have agreed to sell their entire respective holdings in EFS, for an aggregate consideration of $2,150 million. 
 
In addition to the aggregate acquisition consideration being paid to Reliance and Pioneer proportionate to their respective ownership interests in EFS, Enterprise has agreed to spend $270 million over the next ten years on new facilities, connections and expansion projects.
 
Reliance has also concluded certain long-term agreements with Enterprise for continued provision of gathering, treating and compression services and condensate stabilization services for its Eagle Ford Upstream Joint Development. 
 
ADVERTISEMENT
Certain additional long-term arrangements have also been agreed with affiliates of Enterprise for processing and transportation of natural gas, crude oil and condensate. The long-term relationship with Enterprise for hydrocarbon gathering, processing and transportation will provide meaningful economic benefits, further improving cost competitiveness of the Eagle Ford Upstream Joint Development operations.
 
Mr Walter Van de Vijver, President & CEO of Reliance Holding USA, Inc., said, “EFS has succeeded in its objective of building the gathering and midstream infrastructure in a timely manner to support ramp-up of the Reliance-Pioneer Eagle Ford Upstream Joint Development operations. EFS has now transitioned from a ‘development’ mode to ‘stable operations’ mode, generating free cash flows since 2013. EFS monetization thus provides a significant opportunity for unlocking value for our shareholders. We are excited about the long-term relationship with Enterprise, who is among the largest integrated midstream energy companies in North America.”
 
Citi and BofA Merrill Lynch acted as financial advisers for the transaction.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Tendulkar, Ganguly, Laxman join BCCI Cricket Advisory Committee

ADVERTISEMENT
Indian cricketing legends Sachin Tendulkar, Sourav Ganguly and V V S Laxman have been nominated by Board of Control for Cricket in India (BCCI) President Jagmohan Dalmiya as members of its Cricket Advisory Committee with immediate effect.
 
"These legendary cricketers have accepted the invitation to be part of this committee, which will advise the BCCI on various progressive steps which are needed to be taken, that will enable Indian cricket to be better prepared for the challenges of the future," a press release from the Board said.
 
The release said the areas of immediate focus would include to provide guidance to the national team as it sets out to enhance its performance on overseas engagements.
 
The committee will also provide direction to improve the BCCI's talent pathway and take steps to strengthen domestic cricket to better prepare players to handle the rigours of international cricket.
 
“I am happy to note that our eminent cricketers have come forward to lend their experience and insights as we work towards a common goal of taking Indian cricket to greater heights. The coming generations are bound to benefit from the guidance that will be provided by these luminaries and will go a long way in strengthening our existing system,” Mr. Dalmiya said.
 
“On behalf of all my colleagues in the BCCI, I thank Sachin, Sourav and Laxman for having accepted our invitation to be part of this prestigious committee and I am confident that their invaluable advice will help Indian cricket regain its leadership position in all formats of the game. Their participation augurs well for the future of the game in our country and the noble intention to ‘give back to the game’, is commendable,” Mr. Anurag Thakur, Honorary Secretary, BCCI, said.
 
NNN
 
ADVERTISEMENT
 

See News Videos

L&T Construction wins orders valued at Rs 1099 crore

ADVERTISEMENT
Infrastructure major Larsen & Toubro (L&T) today said its construction arm had won orders worth Rs 1099 crore across various business segments in May this year.
 
A press release from the company said orders worth Rs 517 crore bagged by its power transmission & distribution business in both the international and domestic markets, including add-ons.
 
In the domestic market, a rural electrification project under the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) scheme has been bagged in Gorakhpur, Uttar Pradesh, from Purvanchal Vidyut Vitran Nigam Limited.
 
On the international front, this business has received an EPC (Engineering, Procurement & Construction) order from a private developer for two 132/11kV substations in the Middle East.
 
The company said its Factories and Buildings  Business had secured an order worth Rs 300 crore. It is for the design and construction of an integrated foods manufacturing factory in Punjab, from a prestigious client. The scope of work includes civil and structural works, pre-engineered buildings, mechanical, electrical, and plumbing works of 8 lakh sq ft. The project is scheduled to be completed in 16 months.
 
According to the release, the Water Smart World & Communication Business had secured orders worth Rs 282 crore, including add ons. One of the orders has been received from a reputed developer for turnkey construction of water and waste water infrastructure facilities at an upcoming township at Durgapur, West Bengal. The infrastructure facilities include water supply and waste-water networks, waste-water treatment plant, storm-water systems and associated utility works, it added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

HCC sells stake in 247 Corporate Park to Blackstone

ADVERTISEMENT
Infrastructure major Hindustan Construction Company Ltd (HCC) today said it had sold its entire 26% stake in Vikhroli Corporate Park Pvt. Ltd., which owns the premium commercial building, 247 Corporate Park, located at Vikhroli West, in Mumbai. 
 
The company sold its stake to Blackstone Purchase Entities on May 28, a press release from HCC said here.
 
While HCC owned 26 percent of the stake, the remaining 74 percent was owned by ILFS Milestone Fund and others. 
 
The deal was valued at over Rs. 1000 crore, which includes assumed debt, resulting in a net cash inflow of approximately Rs. 200 crore to HCC. In FY 2010-11, HCC Group had raised approx Rs. 300 crore when it had sold its 74% stake to ILFS Milestone Fund.
 
Mr. Rajgopal Nogja, Group Chief Operating Officer, HCC said “This completes our first real estate development resulting in positive cash flow of over Rs. 500 crore in total for the HCC Group over the lifecycle of this commercial property. This transaction is an integral part of our plans to monetize our non-core assets to further reduce our debts. The funds will be used to pare our debts. Through more such initiatives, we are confident of bringing long term stability to our balance sheet.”
 
NNN
 
ADVERTISEMENT
 

See News Videos

St. Regis Hotels & Resorts to debut in India with property in Mumbai

St. Regis Hotels & Resorts, part of Starwood Hotels & Resorts Worldwide, Inc., today announced the debut of its iconic brand in India with the St. Regis Mumbai in the third quarter of 2015. 
 
Owned by Pallazzio Hotels & Leisure Ltd., the Palladium Hotel is currently undergoing an extensive rebranding and will soon fly the St. Regis flag, a press release from the company said.
 
Located in Lower Parel, the hotel combines timeless sophistication with modern luxury and is a befitting debut for the St. Regis brand in this fast growing market, the release said.
 
“We are very excited to bring the St. Regis brand to India,” said said Dilip Puri, Managing Director India and Regional Vice President South Asia, Starwood Hotels & Resorts.
 
“Starwood is maintaining strong growth momentum in the region and the arrival of St. Regis in Mumbai reinforces our commitment to growing our luxury portfolio in this important market. With the hotel’s strategic location, sophisticated service and refined elegance, we look forward to offering guests an unparalleled experience both befitting of the destination and true to the St. Regis legacy," he said.
 
“This signing underscores our belief in the power of Starwood,” said Amit Bhosale Executive Director ABIL Group and Director Pallazzio Hotels & Leisure Ltd. “Starwood’s global reach and its powerful loyalty program will further strengthen our outreach to affluent travellers and elevate India’s luxury hospitality landscape.”
 
Atul Ruia, Managing Director Phoenix Mills Ltd and Director Pallazzio Hotels & Leisure Ltd added, “We are very excited to partner with Starwood Hotels. With the St. Regis legacy and its renowned bespoke service, The St. Regis Mumbai  is poised to become a destination for discerning luxury travellers and the city’s social glitterati.”
 
The release said the hotel, located about half an hour's drive from Chhatrapati Shivaji International & Domestic Airport terminals in Mumbai and a quick and easy drive across the Worli Sea Link, would offer easy access to upscale restaurants and pubs, premium office space, boutiques and luxury real estate. 
 
Adjoining the hotel is the Palladium, the luxury retail shopping centre.
 
The 38-storeyed St. Regis Mumbai will feature 386 guest rooms, including 60 suites. The hotel’s culinary offerings will include an all-day dining restaurant, four specialty restaurants, a club lounge, and three bars. 
 
The St. Regis Mumbai will also feature the brand’s signature Iridium Spa. Other leisure facilities include a swimming pool and a fitness center. For meetings and events, the hotel will offer over 5,200 square meters of event space including a 4200-square-meter grand ballroom.
 
The St. Regis Mumbai will join a growing portfolio of Starwood hotels in India where the company currently operates 43 hotels, with an additional 37 hotels in the pipeline. 
 
"Starwood is India’s largest luxury and upper upscale hospitality company. In addition to The St. Regis Mumbai, the company is set to debut more new hotels in the next two years including W Retreat & Spa Goa, The Westin Kolkata, Sheraton Hyderabad, Le Meridien Nagpur and Aloft New Delhi Aerocity," the release added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Sangakkara, Rahane, Hooda, Bravo honoured at CEAT awards

Ajinkya Rahane receiving the CEAT Indian Cricketer of the year award from former Indian captain  Sunil Gavaskar  atthe  CEAT Cricket Rating Awards 2015 ceremony in Mumbai on May 25, 2015.
Ajinkya Rahane receiving the CEAT Indian Cricketer of the year award from former Indian captain Sunil Gavaskar atthe CEAT Cricket Rating Awards 2015 ceremony in Mumbai on May 25, 2015.
Sri Lanka’s Kumar Sangakkara was announced as the CEAT overall International cricketer of the year while Ajinkya Rahane was chosen as the Indian Player of the year at the Ceat Cricket Rating (CCR) International Awards 2015 presented at a glittering ceremony here today.
 
The awards honoured the best of international cricketers based on their performances as rated by the CEAT Cricket Ratings (CCR) for the year 2014 – 2015.
 
India’s Deepak Hooda won the award for CEAT young player of the Year. Dwayne Bravo was conferred with T20 Player of the year award and Sri Lankan left-arm spinner Rangana Herath was chosen as Bowler of the Year. Hashim Amla was given the award for International Batsman of the Year.
 
In addition to the above, India's Rohit Sharma was given the CEAT Special Award for his record-breaking double ton of 264 against Sri Lanka while West-Indian all-rounder Kieron Pollard was conferred  the Popular player of the year award while the Domestic Cricketer of the Year award was won by R Vinay Kumar.
 
Former India captain Kapil Dev was honoued with ‘CCR International Lifetime Achievement Award’ for his outstanding contribution to Indian cricket. 
 
Mr. Harsh Goenka, Chairman, RPG Group said, “CEAT Cricket Rating has always recognized the achievements of cricketers from the international and domestic arena as well as the fresh faces on the field. 
 
"This year we saw a lot of action right from India’s tour to Australia and the recently concluded World Cup, which allowed us to scrutinize performances across multiple formats."
 
The awards honor the best of the International cricketers based on their performances in international cricket in all formats -- Test, ODI and T20, as rated by the CEAT Cricket ratings (CCR) for the year 2014– 2015.
 
ADVERTISEMENT
Speaking on the occasion, cricket legend and the chief adjudicator of the CEAT Cricket Rating Sunil Gavaskar said, “CEAT Cricket Ratings has been a pioneer in identifying and honouring the potential 
cricketing talent of the country. CEAT has also initiated the Under-19 cricketing awards taking another step to emphasize its commitment to cricket.” 
 
This year, CEAT announced the launch of CEAT Cricket Gear for the cricket enthusiasts across the country. CEAT has also roped in former Australian international cricketer Brett Lee as the brand ambassador for CEAT Cricket Ratings. 
 
CEAT, the flagship company of RPG Enterprises, is one of India's leading tyre manufacturers.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Mumbai Indians win IPL 2015 with 41-run win over CSK in final

Opener Lendl Simmons hit 68 and skipper Rohit Sharma made 50 as Mumbai Indians scored an emphatic 41-run win over Chennai Super Kings in the final to win the 2015 edition of the Indian Premier League at the Eden Gardens in Kolkata on Sunday night.

 
Opener Lendl Simmons hit 68 and skipper Rohit Sharma made 50 as Mumbai Indians scored an emphatic 41-run win over Chennai Super Kings (CSK) in the final to win the 2015 edition of the Indian Premier League (IPL) at the Eden Gardens here tonight.
 
Put in to bat first, Mumbai Indians piled up 202 for five from their 20 overs and then restricted CSK to 161 for eight in their 20 overs to lift the trophy for the second time, having won it earlier in 2013.
 
Apart from Simmons and Sharma, Kieron Pollard made 36 and Ambati Rayudu hit an unbeaten 36 for Mumbai Indias.
 
Opener Dwayne Smith was the topscorer for CSK with 57, while Suresh Raina made 28. Skipper Mahendra Singh Dhoni contirbuted 18.
 
The Mumbai Indians bowlers kept the CSK batsmen in check for the most part, with pace bowlers Mitchell McClenaghan finishing with three for 25 and Lasith Malinga with two for 2, while off-spinner Harbhajan Singh picked up for two for 34.
 
CSK were the winners in 2010 and 2011 and have figured in the final in six of its eigt editions.
 
For Mumbai Indians, it has been a remarkable turnaround after starting out in the tournament with four straight losses in the league stage.. They won eight of their remaining ten matches, including five in a row, to storm into the top four, finishing second in the league. It was their third appearance in an IPL final.
 
Their 2013 win had also come at the same ground and against the same opposition.
 
Batting first, Mumbai Indians suffered an early setback when they lost opener Parthiv Patel (0) in the first over, run out for a duck off the fifth ball of the innings, with just one on the board, thanks to bit of nimble fielding by Faf du Plessis at mid-on.
 
But Chennai had little to celebrate for a long time after that as Lendl Simmons and skipper Rohit Sharma added 119 for the scond wicket.
 
Sharma began with a bang, hitting Mohit Sharma for a six over third man and then a four between slip and third man off consecutive balls, and then another four through cover-point. In all, 16 runs came off that over.
 
ADVERTISEMENT
Sharma then struck two consecutive fours in Nehra's next over, a  pull towards mid-wicket and then a shot through cover.
 
At the other end, Simmons hit Ravichandran Ashwin for four and following it up with a six off a low full toss. In the next over, he struck Nehra for four to make it 47 for one at the end of five overs.
 
In the next over, Simmons hit the first ball from Ravindra Jadeja four four past mid-wicket and followed i tup with a six over mid-off and then a four off a full toss over mid-on off the last two balls. Pawan Negi was brought on, and Simmons cut him for another four.
 
Sharma, who got strike after a long time, was in fine tough today as he struck Ashwin over mid-wicket for a huge six. At the other end, Simmons was giving the treatment to Negi, lifting him over long-on for a big six.
 
All the while, the batsmen kept running singles and twos, and by the end of the 10th over, they had 98 for one on the board.
 
Simmons hit Jadeja for two fours -- a sweep and another shot between point and short third man -- in the next over. 
 
Sharma then struck Dwayne Bravo, brought on for the first time, for a four past point and then another with a straight drive. But Bravo claimed him with the last ball of that over, a slower one. The batsmen was aiming for a big hit but ended up sending the ball straight to Jadeja at long-on. Sharma's 50 was made off 26 balls and included six fours and two sixes.
 
Dwayne Smith, bowling for the very first time in the tournament, claimed Simmons with his first ball, bowling him with a yorker. His 68 came off 45 balls and included eight fours and three sixes. The two quick wickets brought CSK back into the team.
 
But Kieron Pollard (36) and Ambati Rayudu (36 not out) added 71 for the fourth wicket before Pollard left in the 19th over. His 36 came off 18 balls and included two fours and three sixes. Hardik Pandya (0) made his exit three balls later, at the same score.
 
Rayudu's unbeaten 36 came off 24 balls and was studded with three sixes.
 
Smith and Michael Hussey (4) put on 22 for the first wicket for CSK before the former was joined by Raina and the two added 66 for the second wicket.
 
Smith made his 57 off 48 balls with the help of nine fours and a six. He left with the total at 88 in the 12th over and Raina followed him at 99 in the 14th.
 
From then on, CSK lost wickets at regular intervals -- Bravo (9), Dhoni, du Plessis (1), Negi (3) and Ashwin (2). Mohit Sharma remained unbeaten with 21 and Ravindra Jadeja with 11, but the required run rate was way beyond the later batsmen today.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons b Smith 68
PA Patel run out (du Plessis) 0
RG Sharma c Jadeja b Bravo 50
KA Pollard c Raina b Sharma 36
AT Rayudu not out   36
HH Pandya c Raina b Bravo 0
Harbhajan Singh not out 6
Extras (b 1, lb 4, nb 1) 6
Total (5 wickets; 20 overs) 202
Did not bat: J Suchith, MJ McClenaghan, R Vinay Kumar, SL Malinga
Fall of wickets: 1-1 (Patel, 0.5 ov), 2-120 (Sharma, 11.6 ov), 3-120 (Simmons, 12.1 ov), 4-191 (Pollard, 18.5 ov), 5-191 (Pandya, 19.2 ov)
Bowling
A Nehra 4 0 41 0
MM Sharma 4 0 38 1
R Ashwin 2 0 21 0
RA Jadeja 2 0 26 0
P Negi 2 0 18 0
DJ Bravo 4 0 36 2
DR Smith 2 0 17 1
 
Chennai Super Kings (target: 203 runs from 20 overs)
DR Smith lbw b Harbhajan Singh 57
MEK Hussey c Suchith b McClenaghan 4
SK Raina st Patel b Harbhajan Singh 28
MS Dhoni b Malinga 18
DJ Bravo c Simmons b McClenaghan         9
P Negi c Pandya b Malinga 3
F du Plessis c Sharma b Vinay Kumar 1
RA Jadeja not out          11
R Ashwin c Suchith b McClenaghan 2
MM Sharma not out   21
Extras (lb 2, w 3, nb 2) 7
Total (8 wickets; 20 overs) 161
Did not bat: A Nehra
Fall of wickets 1-22 (Hussey, 4.4 ov), 2-88 (Smith, 11.5 ov), 3-99 (Raina, 13.3 ov), 4-108 (Bravo, 14.3 ov), 5-124 (Dhoni, 15.5 ov), 6-125 (du Plessis, 16.2 ov), 7-134 (Negi, 17.3 ov), 8-137 (Ashwin, 18.2 ov)
Bowling
SL Malinga 4 0 25 2
MJ McClenaghan 4 0 25 3
R Vinay Kumar 4 0 39 1
HH Pandya 4 0 36 0
Harbhajan Singh 4 0 34 2
 
NNN
ADVERTISEMENT
 

See News Videos

 

Mahindra to invest $25m for 33% stake in Mitsubishi subsidiary

ADVERTISEMENT
Mahindra & Mahindra will invest JPY 3 billion ($ 25 million) for acquiring a 33 percent voting stake in Mitsubishi Agricultural Machinery Co. Ltd (MAM), a subsidiary of Mitsubishi Heavy Industries Ltd. (MHI) of Japan.
 
This is in pursuance of the strategic partnership in the agricultural machinery field entered into by the two companies, a press release from Mahindra & Mahindra, a part fo the Mahindra Group, said here yesterday.
 
The release said the stake would be acquired through fresh isse of common shares ad Class A (non-voting shares of MAM. 
 
The deal is expected to close by October 1, 2015, with the new funding to be used to increase MAM’s capital base, it said.
 
MAM is a full range agri-machinery company producing and selling tractors, combine harvesters, rice transplanters and other agri-machinery. It had revenues of approximately JPY 50 billion ($ 408 million) in 2014-15.
 
The agreement was signed by Kazuaki Kimura, President and CEO, MHI Machinery, Equipment & Infrastructure, Katsumi Tottori, President, MAM and Rajesh Jejurikar, President & Chief Executive (Farm Equipment & Two Wheeler), Mahindra & Mahindra Ltd.
 
“It is an honor for us at Mitsubishi to welcome Mahindra, who are the largest tractor manufacturer globally by volumes as a partner to Mitsubishi Agricultural Machinery. Today’s signing will only build upon the wonderful relationship which both companies have shared for over a decade. I am sure that the commitment and expertise of both of the companies will open a new horizon to the business globally," Mr Kimura said.
 
ADVERTISEMENT
Mr Jejurikar said, “It is a matter of pride for us to have signed this alliance today which is a ‘win-win’ for the agricultural machinery businesses of both companies. This  will enable strategic growth avenues for Mitsubishi Agricultural Machinery (MAM) through
Mahindra USA, China and other international markets, thereby speeding up international expansion. It will also provide a platform for both the companies to leverage technology and product development synergies.”
 
Mahindra is the world’s largest tractor manufacturer by volume with a strong leadership position in India. MAM has been supplying OEM tractors to Mahindra USA (subsidiary of M&M in the US) as well as providing technical license to Mahindra for walk-behind rice planters and new tractor in India.
 
"The new partnership will help both companies to jointly develop products to address global opportunities in the tractor and agri-machinery space. In addition, the partnership will enable MAM and Mahindra to improve cost competitiveness though joint procurement and optimize the supply chain," the release added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Mumbai Police files case after firm rejects job-seeker for being Muslim

 
Mumbai job-seeker rejected for being Muslim
Police in Mumbai have filed a case against a diamond jewellery export company here for discriminating against a job-seeker on the basis of his religion after it rejected the youth's application on the grounds that he is a Muslim.
 
The applicant, Zeshan Ali Khan, who has just completed an MBA degree, had sent in an application to the company, Hari Krishna Exports Pvt. Ltd, by e-mail along with two of his friends.
 
Khan said his friends were called for interviews, while got an email from the company which said, "Thank you for your application. We regret to inform you that we hire only Non-Muslim candidates."
 
Talking to journalists outside the Vinoba Nagar Police Station, he said he could have understood if the firm had rejected him on the grounds of his qualification or experience.
 
Khan took a screenshot of the company's e-mailed response and posted it on social media websites, where it has gone viral.
 
He said he had come to the police station to file a complaint against the firm.
 
"At a time when Prime Minister Narendra Modi is visiting foreign countries and inviting them for investment and pushing ahead the 'Make in India' campaign, the leading export houses are rejecting candidates for their religion," he said.
 
Later, Inspector Suryakant Jagdale told reporters that they had filed a case in the matter on the basis of Khan's complaint that his religious sentiments had been hurt. Since the company is located in the Bandra Kurla Complex, the case would be transferred to the police station there, he said.
 
As the entire affair spiralled into a major controversy, the company said the rejection letter was sent in error by one of its new employees.
 
"As a company, we would like to reiterate that there is an error done by one of the newly joined HR trainees. Company functions without being biased with any caste, religion and gender," it said.
 
The company also wrote to Khan. "It was a blunder and personal mess created by one of our trainees who has no decision-making power. We have 61 employees in our office here including one Muslim in the HR team," it said.
 
Meanwhile, National Commission of Minorities (NCM) Chairman Naseem Ahmed said the body would look into the matter after receiving petitions from activists.
 
"We have received the petition. If there is any truth in this, it is unfortunate. An inquiry shall be conducted," he said.
 
NNN
 
ADVERTISEMENT
 

See News Videos

State Bank of India enters into partnership with PayPal

B. Sriram, Managing Director, State Bank of India and Vikram Narayan, Managing Director and Country Manager (India), PayPal after signing an agreement for a strategic partnership between the two companies in Kolkata on May 21, 2015.
B. Sriram, Managing Director, State Bank of India and Vikram Narayan, Managing Director and Country Manager (India), PayPal after signing an agreement for a strategic partnership between the two companies in Kolkata on May 21, 2015.
State Bank of India (SBI), the country's largest lender, and Paypal, the world's leading open digital payments company, today entered into a strategic partnership to promote cross border trade and facilitate payments for SBI and PayPal users both in India and abroad.
 
The partnership will enable SBI debit cardholders to use PayPal when buying products from overseas websites and allow SBI’s Micro Small and Medium Enterprise (MSME) customers to gain access to PayPal’s secure payment solutions. 
 
"We would also collaborate on providing innovative financial solutions to the merchants who are using PayPal services," a press release from the two companies said.
 
According to it, the announcement reiterates the importance of India as a strategic market for PayPal.
 
In addition to having a strong engineering workforce based out of India, PayPal also has a very robust and growing cross border business in the country. The partnership will help PayPal work closely with SBI to make it easy for Indian exporters and consumers gain access to a global audience. One of the key aspects of the partnership is the impetus that will be provided to eGovernance projects of the Government of India, it said.
 
Mr. B. Sriram, Managing Director, SBI said “SBI has been bringing value to its customers by providing them innovative financial solutions. SBI is very pleased to have this tie-up as it provides a perfect opportunity to both of us to collaborate and offer a wide gamut of customized financial solutions to merchants across the board. This would bring new opportunities for our SME customer base.”  
 
Mr Vikram Narayan, Managing Director and Country Manager (India), PayPal said, “It is an honour for PayPal to partner with the State Bank of India (SBI) which is India’s largest bank. We foresee exciting times ahead as the economy is poised to pick up and support Indian citizens and, businesses to evolve through global transactions. We understand the Government’s focus on the MSME and believe PayPal has a strong role to play in the ‘Make in India’ initiative. Collaborating with us gives SBI’s customers global access to businesses and consumers alike.”
 
PayPal and SBI will create a joint coordination committee to grow and implement this strategic partnership, the release added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Harbhajan Singh recalled to Test squad for Bangladesh series

File photo of Harbhajan Singh. Photo by Ron Gaunt-IPL-SPORTZPICS
File photo of Harbhajan Singh. Photo by Ron Gaunt-IPL-SPORTZPICS
Off-spinner Harbhajan Singh has been recalled to the Indian Test squad after a gap of more than two years for next month's one-off Test in Bangladesh, the Board of Control for Cricket in India (BCCI) announced here today.
 
Harbhajan, 34, will replace left-arm spinner Ravindra Jadeja in the full-strength Indian team for the one-off Test at Fatullah from June 10-14.
 
The team was picked up the Board's All-India Senior Selection Committee which met here today. It also named the Indian team for the three ODIs against Bangladesh.
 
The test squad will be led by Virat Kohli and the ODI team by Mahendra Singh Dhoni.
 
Pace bowler Mohammad Shami has been left out of the ODI squad because of an injury and his place has been taken by Dhawal Kulkarni.
 
Harbhajan has played 101 Tests for India and taken 413 wickets at an average of 32.37. He made his debut against Australia at Bangalore in March 1998 and last played for India, also against Australia at Hyderabad in March 2013.
 
The following are the teams:
 
Indian Team-Test Match
Virat Kohli ( Captain), Murali Vijay, Shikhar Dhawan, K.L. Rahul, Cheteshwar Pujara, Ajinkya Rahane, Rohit Sharma, Wriddhiman Saha, R. Ashwin, Harbhajan Singh, Karn Sharma, Bhuvneshwar Kumar, Umesh Yadav, Varun Aaron, Ishant Sharma.
 
Indian Team-ODI series
Mahendra Singh Dhoni (Captain) ,Rohit Sharma, Ajinkya Rahane, Virat Kohli, Shikhar Dhawan, Suresh Raina, Ambati Rayudu, R. Ashwin, Ravindra Jadeja, Axar Patel, Bhuvneshwar Kumar, Umesh Yadav, Mohit Sharma, Stuart Binny, Dhawal Kulkarni.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Mumbai Indians storm into final with 25-run win over CSK

 
Superb knocks of 65 by opener Lendl Simmons and 41 by Kieron Pollard and an impressive 3 for 23 by pace bowler Lasith Malinga and two crucial wickets off consecutive balls by Harbhajan Singh helped Mumbai Indians storm into the final of the eigth edition of the Indian Premier League (IPL) with an emphatic 25-run win over Chennai Super Kings (CSK) in the first qualifier at the Wankhede Stadium here tonight.
 
Opting to bat first, Mumbai Indians piled up a challenging 187 for six from their 20 overs, thanks also to a useful knock of 35 by the other opener Parthiv Patel.
 
In response, Chennai Super Kings (CSK) were bowled out for 162 in 19 overs, with Faf du Plessis their topscorer with 45. Suresh Raina made 25 and Ravichandran Ashwin made 23 off 12 balls towards the end, but their efforts fell far short of the required run rate today.
 
For Mumbai Indians, it has been a remarkable turnaround after starting out in the tournament with four straight losses in the league stage.. They won eight of their remaining ten matches, including five in a row, to storm into the top four, finishing second in the league.
 
CSK, who had finished at the top of the eight-team league, will have another chance to try and make it to the final when they meet in the second qualifier the the winner of the eliminator between Royal Challengers Bangalore (RCB) and Rajasthan Royals, slated for tomorrow in Pune. 
 
The final is slated for Sunday night at the Eden Gardens in Kolkata.
 
Defending champions Kolkata Knight Riders (KKR), Sunrisers Hyderabad, Delhi Daredevils and Kings XI Punjab had failed to qualify for the play-offs. 
 
Mumbai Indians got off to a rousing start today, with Simmons and Patel putting on 90 for the first wicket in 10.4 overs. Patel was the first to go. His 35 came off 25 balls with the help of four fours and a six. 
 
Simmons and skipper Rohit Sharma (19) added 23 for the second wicket before the former left in the 14th over. he faced 51 balls for his 65 which included three fours and five sixes.
 
Sharma and Pollard added 24 for the third wicket before the former made his exit at 137 in the 16th over. Hardik Pandya followed him two runs later.
 
Pollard and Rayudu (10) kept the scoreboard moving, adding 21 for the sixth wicket. Pollard made his 41 off just 17 balls and hit one four and five sixes. When he left with two balls remaning in the innings, Mumbai Indians had already reached 185.
 
Dwayne Bravo was the most successful bowler for CSK with three for 40, while Ashish Nehra, Ravindra Jadeja and Mohit Sharma picked up one each. 
 
Chasing 188 for a win, CSK lost opener Dwayne Smith in the first over before they had scored any runs. The other opener Michael Hussey (16) and du Plessis steadied the innings with a 46-run stand for the second wicket.
 
After Hussey left at the start of the sixth over, du Plessis and Raina consolidated the innings further with a 4-run partnership for the third wicket. Raina, who had struck two sixes, left in the 11th over with the total at 86. Skipper Mahendra Singh Dhoni fell off the first ball he faced, trapped leg before wicket, to give Harbhajan Singh two wickets off consecutive balls and take the sting out of the CSK batting.
 
du Plessis moved the total to 110 before departing in the 14th over. His 45 came off 34 balls and included five fours and a six. From then on, CSK kept losing wickets at regular intervals to find themselves struggling at 147 for eight in the 18th over. Ashwin slammed two fours and a six to brighten up things for them briefly, but the task before the later batsmen was beyond them.
 
ADVERTISEMENT
Apart from Malinga, the Mumbai bowlers who shone today were R. Vinay Kumar and Harbhajan Singh, both of whom ended up with two for 26.
 
For Mumbai Indians, it was their eighth win in nine matches and their third entry into an IPL final. They had won the title in 2013.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons c Negi b Jadeja 65
PA Patel c Jadeja b Bravo 35
RG Sharma   c Jadeja b Bravo 19
KA Pollard c Raina b Bravo 41
HH Pandya c Jadeja b Nehra 1
AT Rayudu c Raina b Sharma 10
Harbhajan Singh not out    6
J Suchith not out   1
Extras (w 8, nb 1)  9
Total (6 wickets; 20 overs)     187
Did not bat: MJ McClenaghan, R Vinay Kumar, SL Malinga
Fall of wickets: 1-90 (Patel, 10.4 ov), 2-113 (Simmons, 13.4 ov), 3-137 (Sharma, 15.4 ov), 4-139 (Pandya, 16.1 ov), 5-164 (Rayudu, 18.5 ov), 6-185 (Pollard, 19.4 ov)
Bowling
R Ashwin 3 0 22 0
A Nehra 4 0 28 1
P Negi 4 0 46 0
RA Jadeja 2 0 18 1
MM Sharma 3 0 33 1
DJ Bravo 4 0 40 3
 
Chennai Super Kings (target: 188 runs from 20 overs)
DR Smith lbw b Malinga 0
MEK Hussey c Patel b Vinay Kumar 16
F du Plessis c Vinay Kumar b Suchith 45
SK Raina c & b Harbhajan Singh 25
MS Dhoni lbw b Harbhajan Singh 0
DJ Bravo run out (McClenaghan/Patel) 20
RA Jadeja c Suchith b McClenaghan 19
P Negi c sub (UBT Chand) b Vinay Kumar 3
R Ashwin c Rayudu b Malinga 23
MM Sharma not out          3
A Nehra c Simmons b Malinga 0
Extras (lb 1, w 7) 8
Total (10 wickets; 19 overs) 162
Fall of wickets: 1-0 (Smith, 0.4 ov), 2-46 (Hussey, 5.1 ov), 3-86 (Raina, 10.2 ov), 4-86 (Dhoni, 10.3 ov), 5-110 (du Plessis, 13.5 ov), 6-119 (Bravo, 14.5 ov), 7-126 (Negi, 15.3 ov), 8-147 (Jadeja, 17.2 ov), 9-161 (Ashwin, 18.4 ov), 10-162 (Nehra, 18.6 ov)
Bowling
SL Malinga 4 0 23 3
MJ McClenaghan 3 0 46 1
R Vinay Kumar 3 0 26 2
Harbhajan Singh 4 0 26 2
KA Pollard 3 0 22 0
J Suchith 2 0 18 1
 
NNN
ADVERTISEMENT
 

See News Videos

 

Essar Foundation signs MoU with National Skill Development Corporation

ADVERTISEMENT
Essar Foundation, the corporate social responsibility (CSR) arm of the Essar Group, today said it had signed a memorandum of understanding (MoU) with the National Skill Development Corporation (NSDC) to provide job-oriented vocational training to youth in order to improve their employability.
 
In the first phase, 1,000 youth across eight cities will be provided training in customer service, tele-calling and marketing & sales skills, a press release from the foundation said.
 
Essar Foundation will fund the programme to the tune of Rs. 40 lakhs and provide systematic direction to the initiative. The foundation will also extend its support in ensuring linkages towards employing the trained youth.
 
The programme, named ‘Ajeevika’, was launched with Mr. Dilip Chenoy, MD & CEO, NSDC and Mr Deepak Arora, CEO, Essar Foundation, signing the MoU documents. The first batch is expected to begin training by June 2015 in Delhi National Capital Region (NCR) and Ahmedabad.
 
Mr. Chenoy said “Collaboration is the mainstay of any significant developmental initiatives and strategic partnerships towards achievement of national goals have caught up as a trend in India, especially, as corporates have stepped up their roles with integrated and sustainable CSR programmes. We are happy to join hands with Essar Foundation to provide employment opportunities to young people to access opportunities provided by economic growth and make that growth more inclusive.”
 
“Statistics suggest by 2020, India is set to become the world’s youngest country with 64 per cent of its population in the working age group. This would mean much greater thrust on skills that make the youth job-ready and employable in real market scenarios. We are very happy to partner with NSDC to develop productive, employable and skilled workforce in the country.  Essar Foundation is already active in skilling the youth in the rural and semi-urban areas and with this programme, we can take our initiative even further,” Mr Arora said.
 
Based on the success of the programme, the scope and profile will be expanded in the subsequent phases. NSDC, with its nodal institutions across the country, will execute the identification, training and management of the structured skill development programme. It will introduce and integrate vocational courses in semi urban and urban areas across the country. The programme will focus on underprivileged sections of society and backward regions of the country. Similarly, focus will be significantly on the unorganized or informal sector workforce, where induction of new skills will provide the edge the industry is seeking, the release added.
 
NNN
 
 
 
ADVERTISEMENT
 

See News Videos

Mumbai Indians finish second with massive 9-wicket win over Sunrisers

 
Mitchell McClenaghan and Lasith Malinga shone with the ball and openers Parthiv Patel and Lendl Simmons with the bat as Mumbai Indians outplayed Sunrisers Hyderabad by nine wickets to take the second spot on the table in the indian Premier League (IPL) at the Rajiv Gandhi International Stadium here tonight.
 
McClenaghan picked up three for 16 and Malinga two for 17 to skittle Sunrisers out for just 113 in their allotted 20 overs. Jagdeesha Suchith got two for 14 from his three overs. Harbhajan Singh and Kieron Pollard ended up with one each in what was the last league engagement of the IPL 2015 season.
 
In response, Mumbai Indians rattled up 114 for 1 in 13.5 overs to win with 37 balls to spare, with Patel slamming an unbeaten 51 and Simmons making a superb 48.
 
Chennai Super Kings (CSK) had already sealed the top spot yesterday, with 18 points with nine wins and five losses from 14 matches. Mumbai Indians finished with 16 points with eight wins and six losses. The two teams will now play the first qualifier on May 19 to decide the first finalist.
 
Royal Challengers Bangalore (RCB) and Rajasthan Royals have also qualified for the play-offs, finishing third and fourth, respectively. Both ended up with 16 points from their 14 matches. They will meet in the eliminator on May 20.
 
The winner of the eliminator will play the loser of the first qualifier in the second qualifier on May 22 to decide the second finalist. The final is slated for Sunday night at the Eden Gardens in Kolkata.
 
Defending champions Kolkata Knight Riders (KKR), Sunrisers Hyderabad, Delhi Daredevils and Kings XI Punjab have failed to qualify.
 
Opting to bat first in what as a do-or-die encounter for both teams, Sunrisers began on a disastrous note, losing openers Shikhar Dhawan (1) and skipper David Warner (6) off successive deliveries with just seven on the board.
 
Eoin Morgan (9) left at 23 and then they lost Moises Henriques (11) and Naman Ojha off successive deliveries in the ninth over to be left struggling at 51 for five.
 
Lokesh Rahul (25), Karn Sharma (15), Ashish Reddy (17) and Dale Steyn (19) tried to stem the tide but could not make any major difference.
 
Chasing an easy 114 for a win, Mumbai Indians got off to a strong start as Patel and Simmons put on 106 for the first wicket to literally beat Sunrisers into submission.
 
ADVERTISEMENT
Patel's 51 not out came off 37 balls and included nine fours, while Simmons struck four fours and two sixes in his 44-ball 48.
 
When Simmons left in the 14th over, there was very little work left for Patel and skipper Rohit Sharma (7 not out) to do.
 
For Mumbai Indians, it has been a remarkable turnaround after starting out in the tournament with four straight losses. They won eight of their remaining ten matches, including five in a row, to storm into the top four.
 
Scoreboard
Sunrisers Hyderabad (20 overs maximum)
DA Warner c Pollard b McClenaghan 6
S Dhawan b Malinga 1
MC Henriques st Patel b Suchith 11
EJG Morgan c Simmons b McClenaghan     9
KL Rahul b Harbhajan Singh 25
NV Ojha c Sharma b Suchith 0
KV Sharma c Suchith b Malinga 15
A Ashish Reddy c Vinay Kumar b Pollard 17
B Kumar c Pandya b McClenaghan 0
P Kumar run out (Pandya/Pollard) 4
DW Steyn not out        19
Extras (lb 2, w 4) 6
Total (all out; 20 overs) 113
Fall of wickets: 1-7 (Dhawan, 0.6 ov), 2-7 (Warner, 1.1 ov), 3-23 (Morgan, 5.3 ov), 4-51 (Henriques, 9.2 ov), 5-51 (Ojha, 9.3 ov), 6-61 (Rahul, 12.1 ov), 7-84 (Ashish Reddy, 15.4 ov), 8-86 (B Kumar, 16.3 ov), 9-91 (Sharma, 17.3 ov), 10-113 (P Kumar, 19.6 ov)
Bowling
SL Malinga 4 0 17 2
MJ McClenaghan 4 0 16 3
R Vinay Kumar 3 0 21 0
J Suchith 3 0 14 2
HH Pandya 1 0 11 0
Harbhajan Singh 3 0 18 1
KA Pollard 2 0 14 1
 
Mumbai Indians (target: 114 runs from 20 overs)
LMP Simmons c Dhawan b Sharma 48
PA Patel not out 51
RG Sharma not out 7
Extras (b 1, lb 2, w 5) 8
Total (1 wicket; 13.5 overs) 114
Did not bat: AT Rayudu, KA Pollard, HH Pandya, Harbhajan Singh, J Suchith, MJ McClenaghan, R Vinay Kumar, SL Malinga
Fall of wickets 1-106 (Simmons, 13.2 ov)
Bowling
DW Steyn 3 0 27 0
B Kumar 3 0 16 0
P Kumar 2 0 13 0
MC Henriques 3 0 17 0
KV Sharma 2.5 0 38 1
 
NNN
 
 
ADVERTISEMENT
 

See News Videos

India’s forex reserves rise by $ 262.4 million to new high of $ 352.131 billion

ADVERTISEMENT
India’s foreign exchange reserves rose by $ 262.4 million to a new high of $ 352.131 billion in the week ended May 8, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had soared by a massive $ 7263 billion to $ 351.868 billion in the previous week.
 
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 262.7 million to $ 327.425  billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect  of  appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 19.335 billion, while its special drawing rights (SDR) decreased by 0.2 million to $ 4.063 billion.
 
India's reserve position in the Indian Monetary Fund (IMF) decreased by 0.1 million to $ 1.317 billion, the bulletin added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Payment companies from 17 countries to gather in Mumbai

ADVERTISEMENT
National Payments Corporation of India (NPCI), the umbrella organization for retail payments systems in the country, has organised an international conference here on May 21-22.
 
The conference will bring together leaders of national-level retail payment systems from 17 countries who will share their best practices during the two-day event.
 
Participants in the conference will include UnionPay International (China), Discover Financial Services (USA), Japan Credit Bureau (Japan), Vocalink (UK), Interac Association (Canada), EFTPOS Payments (Australia), Malaysian Electronic Payment System (Malaysia), Interswitch (Nigeria) and LankaClear (Sri Lanka).
 
NPCI now processes 18 million inter-bank transactions each day and has created a vision "to touch every Indian with one or other electronic payment products by 2020".
 
NPCI MD & CEO A P Hota said the conference would help it learn from the best practices in other countries to move from a largely cash economy to a cashless economy.
 
Set up in 2009 as the central infrastructure for various retail payment systems in India, NPCI was envisaged by the Reserve Bank of India (RBI) as the payment utility for all banks in the country.
 
During the last five years, the organization has grown multi-fold from 2 million transactions a day to 18 million transactions now.  From a single service of switching of inter-bank ATM transactions, the range of services has grown to Cheque Clearing, Immediate Payments Service money transfer (24x7), Automated Clearing House, Electronic Benefit Transfer and a domestic card payment network named ‘RuPay’ to provide an alternative to international card schemes.
 
NNN
ADVERTISEMENT
 

See News Videos

Mumbai Indians back in top four with five-run win over KKR

 
Hardik Pandya and Kieron Pollard shone as Mumbai Indians (MI) fought their way back into the top four with a five-run win over defending champions Kolkata Knight Riders (KKR) in the Indian Premier League (IPL) at the Wankhede Stadium here tonight.
 
Put in to bat first, the hosts posted a challenging 171 for four from their 20 overs, riding on a superb unbeaten 61 by Hardik Pandya -- his first IPL half-century -- and a patient 33 not out by Kieron Pollard.
 
Skipper Rohit Sharma made 30 and opener Parthiv Patel contributed 21 to the MI tally.
 
Chasing 172 for a win, KKR ended up a little short at 166 for seven from their quota of overs, after Yusuf Pathan brought them pretty close with a briliant 52. Earlier, skipper Gautam Gambhir (38) and Robin Uthappa (25) had given them a solid start, putting on 45 for the first wicket but, except Shakib Al Hasan (23), the other batsmen could not build on that foundation today.
 
KKR are now in the second place with 15 points from seven wins, five losses and one no-result in their 13 matches so far, with one more league match to go.
 
Mumbai Indians are back in the fourth spot in the eight-team league with seven wins and six losses from 13 matches. They, too, have one league outing left.
 
Chennai Super Kings (CSK) are currently at the top of the table, with 16 points and one match to go. Sunrisers Hyderabad are in the third place, with 14 points from 12 outings so far and two more matches to go.
 
Mumbai Indians began on a shaky note today, losing Patel at 29 in the fifth over and the other opener Lendl Simmons (14) in the next over at 42. Ambati Rayudu (2) did not stay very long and left at 47 before Sharma and Pollard steadied the innings with a 32-run partnership for the fourth wicket. Sharma hit five hours in his 21-ball essay.
 
Sharma's departure at 79 brought Pandya and Pollard together and they steered the home team to 171, adding 92 in their unbroken partnership for the fifth wicket off 50 deliveries. They put on 72 in the last five overs
 
Pandya faced 31 balls and hit eight fours and two sixes in his 61 while Pollard had one four and one six in his 33 that came off 38 balls.
 
Shakib Al Hasan took two for 22, while Morne Morel and Sunil Narine picked up one each.
 
Gambhir and Uthapa were all confidence as they began the chase. Gambhir hit five fours in his 38, while Uthappa slammed three fours and a six in his 25.
 
Uthappa left at 45 and Manish Pandey (1) was run out two balls later to make it 46 for two in the sixth over. Gambhir and Pathan added 42 for the third wicket before the former left at 88 in the 11th over.
 
Pathan then found an able ally in Shakib as the two added 30 for the fourth wicket. However, he later ran out of partners as Andre Russell (2) and Suryakumar Yadav (11) did not stay very long.
 
At the end of 17 overs, KKR were 144 for five, needed 28 runs from the remaining 18 balls. Yadav fell off the first ball of the 18th over, hitting Mitchell McClenaghan straight to Rayudu at deep mid-wicket. That over produced seven runs, including a four by Pathan over short third man.
 
KKR needed 21 from 12 balls now. A fumble by wicket-keeper allowed Piyush Chawla to go for a quick bye, bringing Pathan back on strike. Pathan slammed the next one from Lasith Malinga for a six over the mid-wicket fence, the target seemed within their reach. In all, that over yielded nine runs.
 
ADVERTISEMENT
Pollard, who had held the MI innings together with his patient knock, came on to bowl for the first time in the innings and claimed Pathan with his first delivery, caught behind by Patel when he top-edged an attempted pull. Pathan's 52 was made off 37 balls with the help of five fours and two sixes.
 
Umesh Yadav struck the medium-pacer's next ball for four to short fine leg and then ran a single, which left KKR with seven to get from three. The fourth ball was a wide. The next two were dot balls. Six were required from the last ball, a slower one, and Chawla stepped out to it and swung wildly, but could not connect.
 
Scoreboard
Mumbai Indians (20 overs maximum)
LMP Simmons c Pandey b Morkel 14
PA Patel c Pandey b Shakib Al Hasan 21
RG Sharma b Narine 30
AT Rayudu c Russell b Shakib Al Hasan 2
KA Pollard not out 33
HH Pandya not out 61
Extras (lb 1, w 6, nb 3) 10
Total (4 wickets; 20 overs) 171
Did not bat: Harbhajan Singh, J Suchith, MJ McClenaghan, R Vinay Kumar, SL Malinga
Fall of wickets: 1-29 (Patel, 4.2 ov), 2-42 (Simmons, 5.4 ov), 3-47 (Rayudu, 6.3 ov), 4-79 (Sharma, 11.4 ov)
Bowling
UT Yadav 3 0 37 0
M Morkel 4 0 27 1
Shakib Al Hasan 4 0 22 2
PP Chawla 1 0 9 0
SP Narine 4 0 38 1
AD Russell 4 0 37 0
 
Kolkata Knight Riders (target: 172 runs from 20 overs)
RV Uthappa c Malinga b Harbhajan Singh 25
G Gambhir b Suchith 38
MK Pandey run out (Simmons) 1
YK Pathan c Patel b Pollard 52
Shakib Al Hasan c Pandya b Vinay Kumar 23
AD Russell c Patel b Malinga 2
SA Yadav c Rayudu b McClenaghan 11
PP Chawla not out 1
UT Yadav not out 5
Extras (b 1, w 7) 8
Total (7 wickets; 20 overs) 166
Did not bat: M Morkel, SP Narine
Fall of wickets: 1-45 (Uthappa, 5.3 ov), 2-46 (Pandey, 5.5 ov), 3-88 (Gambhir, 10.6 ov), 4-118 (Shakib Al Hasan, 14.2 ov), 5-128 (Russell, 15.5 ov), 6-144 (SA Yadav, 17.1 ov), 7-160 (Pathan, 19.1 ov)
Bowling
SL Malinga 4 0 31 1
MJ McClenaghan 4 0 31 1
R Vinay Kumar 4 0 33 1
Harbhajan Singh 4 0 31 1
J Suchith 2 0 23 1
HH Pandya 1 0 10 0
KA Pollard 1 0 6 1
 
NNN
ADVERTISEMENT
 

See News Videos

RJIL raises $ 750 million, 12-year loan backed by K-sure

ADVERTISEMENT
Reliance Jio Infocomm Limited (RJIL), a subsidiary of Reliance Industries Limited (RIL) today said it had signed a $ 750 million loan backed by Korea Trade Insurance Corporation (K-sure) on May 7.
 
The loan is guaranteed by RIL and will be primarily used to finance goods and services procured from Samsung Electronics and Ace Technologies Corp., which are being sourced for the infrastructure rollout of RJIL, a press release from the company said.
 
This is the first facility by K-sure with RJIL. "However, it is the second facility by K-sure with the Reliance Group and is a testament to the strengthening relationship between the two entities," it said.
 
This is the second round of financing for RJIL from Korean ECAs and the third overall between the group and Korean ECAs in three years highlighting the growing business with Korean organisations.
 
The loan is also K-sure’s largest deal in India. It has a door to door tenor of 12 years including a 2-year availability period and 10-year repayment period thereafter.
 
The facility is funded by nine relationship banks of Reliance including The Hongkong and Shanghai Banking Corporation Limited, Australia and New Zealand Banking Group Limited, Banco Santander, S.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd, and Sumitomo Mitsui Banking Corporation, ING Bank and DZ Bank AG.
 
RJIL is the first telecom operator to hold a pan-India unified licence which authorises it to provide all telecommunication services except Global Mobile Personal Communication by Satellite Service.
 
In addition to the pan-India 2300MHz spectrum, RJIL has spectrum in either 800MHz or 1800MHz or both in 20 out of the telecom 22 circles in the country. RJIL plans to provide seamless 4G services using LTE in 800MHz, 1800MHz and 2300MHz bands through an integrated ecosystem.
 
RJIL is setting up a pan India telecom network to provide to the highly underserviced India market, reliable (4th generation) high speed internet connectivity, rich communication services and various digital services in key domains such as education, healthcare, security, financial services, government-citizen interfaces and entertainment. RJIL aims to provide anytime, anywhere access to innovative and empowering digital content, applications and services, thereby propelling India into global leadership in digital economy
 
RJIL has made significant progress in building its LTE business, including physical network infrastructure, systems and processes, sales and distribution network, applications and services, content and so on. It is working with strategic partners who have committed significant resources, knowhow and global talent to support deployment and testing activities currently underway.
 
From less than 700 professionals a year back, the RJIL Jio team has grown rapidly to a national footprint of over 10,000 professionals today, the release added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

de Villiers, Kohli power RCB to 39-run win over Mumbai Indians

 
A B de Villiers slammed an unbeaten 133 and skipper Virat Kohli made 82 not out as Royal Challengers Bangalore (RCB) inflicted a 39-run defeat on Mumbai Indians at the Wankhede Stadium here this evening.
 
Opting to bat first, RCB piled up an imposing 235 for one from their 20 overs, riding on unbroken second-wicket partnership of  215 between Kohli and de Villiers.
 
In response, Mumbai Indians made 196 for seven in their allotted overs, impressive by itself but way behind what was needed today.
 
RCB suffered an early setback when their star batsman Chris Gayle (13) was dismissed in the fourth over, with just 20 on the board.
 
But that brought de Villiers onto the scene and the hosts never got a look-in after that as he and Kohli went about systematically demolishing the bowling, hitting the ball at will to all parts of the ground.
 
de Villiers made his 133 off just 59 balls with the help of 19 fours and four sixes, while Kohli's 82 came off 50 balls and was studded with six fours and four sixes.
 
For the record, Lasith Malinga claimed the lone RCB wicket to fall today with figures of one for 27 from his four overs.
 
de Villiers ruined the figures of most of the other bowlers, hitting 52 off Jaspreet Bumrah, 51 off Hardik Pandya's three overs, 40 off Mitchell John McClenaghan and 35 off Jagdeesha Suchith's three overs. Harbhajan Singh conceded 30 in the two overs that he bowled.
 
Chasing the dauting target of 236 for a win, Mumbai Indians began on a tentative note, with Parthiv Patel (19) and Lendl Simmons (68 not out) putting on 29 in four overs before the former left. Simmons and skipper Rohit Sharma (15) added 34 for the second wicket.
 
The innings acquired some stability when Simmons and Kieron Plollard (49) added 70 for the third wicket. Pollard struck six fours and two sixes in his 24-ball knock before he fell in the 15th over. At that stage, Mumbai Indians still needed 103 runs from 5.4 overs.
 
The batsmen who followed -- Pandya (8), Ambati Rayudu (14), Harbhajan Singh (3) and Suchith (4) -- proved unequal to the task and trekked back to the pavilion in a steady procession. McClenaghan remained unbeaten with 12.
 
Simmons, who ran out of partners, compiled his heroic 68 off 53 balls with the help of five fours and three sixes.
 
Harshal Patel and Yuzvendra Chahal picked up two wickets each while Mitchell Starc and Sreenath Aravind got one each.
 
ADVERTISEMENT
RCB's 235 was the highest score in this season of IPL and de Villiers' 133 was the highest individual score of this edition of the tournament.
 
With today's win, RCB are back in the top four, taking fourth place with six wins, four losses and one no-result from their 11 matches so far. Mumbai Indians have been pushed down to the sixth spot in the eight-team league, with six wins and six losses from their 12 outings thus far.
 
Scoreboard
Royal Challengers Bangalore (20 overs maximum)
CH Gayle c Simmons b Malinga 13
V Kohli not out           82
AB de Villiers not out         133
Extras (w 6, nb 1)        7
Total (1 wicket; 20 overs) 235
Did not bat: KD Karthik, SN Khan, Mandeep Singh, D Wiese, MA Starc, HV Patel, YS Chahal, S Aravind
Fall of wickets: 1-20 (Gayle, 3.1 ov)
Bowling
MJ McClenaghan 4 0 40 0
SL Malinga 4 1 27 1 6.75
JJ Bumrah 4 0 52 0
J Suchith 3 0 35 0
Harbhajan Singh 2 0 30 0
HH Pandya 3 0 51 0
 
Mumbai Indians (target: 236 runs from 20 overs)
PA Patel run out (Kohli/Karthik) 19
LMP Simmons not out         68
RG Sharma c Mandeep Singh b Patel 15
KA Pollard c Starc b Aravind 49
HH Pandya st Karthik b Chahal          8
AT Rayudu c de Villiers b Patel 14
Harbhajan Singh c Kohli b Starc 3
J Suchith c Karthik b Chahal 4
MJ McClenaghan not out 12
Extras (lb 1, w 3) 4
Total (7 wickets; 20 overs) 196
Did not bat: SL Malinga, JJ Bumrah
Fall of wickets: 1-29 (Patel, 3.6 ov), 2-63 (Sharma, 8.1 ov), 3-133 (Pollard, 14.2 ov), 4-143 (Pandya, 15.4 ov), 5-174 (Rayudu, 17.3 ov), 6-178 (Harbhajan Singh, 18.2 ov), 7-184 (Suchith, 19.2 ov)
Bowling
MA Starc 4 0 41 1
S Aravind 4 0 29 1
D Wiese 4 0 38 0
HV Patel 4 0 36 2
YS Chahal 4 0 51 2
 
NNN
ADVERTISEMENT
 

See News Videos

Veteran actor Shashi Kapoor receives Dadasaheb Phalke Award

 
Shashi Kapoor honoured with Dadasaheb Phalke Award
 
 
Veteran actor and filmmaker Shashi Kapoor was conferred the prestigous Dadasaheb Phalke Award -- the top honour in Indian cinema -- for his outstanding contribution to the growth and development of the film industry at a special function at Prithvi Theatre here today.
 
Kapoor, 77, who is wheel-chair bound, could not travel to Delhi to receive the award from President Pranab Mukherjee at the National Film Awards there on May 3 and, therefore, Union Finance Minister Arun Jaitley, who also holds the portfolio of Information & Broadcasting, travelled to Mumbai to present it to him.
 
The event was attended by the top names of the film industry as well as members of the Kapoor family such as Randhir Kapoor, Rishi Kapoor, Ranbir Kapoor, Karisma Kapoor, Saif Ali Khan (who is the husband of Kareena Kapoor) and Neetu Singh, all well-known actors in their own right, and Shashi Kapoor's children Sanjana Kapoor and Kunal Kapoor.
 
Others present included actors Amitabh Bachchan, Abhishek Bachchan, Waheeda Rehman, Asha Parekh, Rekha, Zeenat Aman, Nafisa Ali and Raj Babbar, singer Asha Bhosale and filmmaker Shyam Benegal.
 
Kapoor is the 46th winner of the award, which is conferred annually by the Government of India on the basis of the recommendations of a committee of eminent persons. This year's award was decided unanimously by a five-member jury consisting of eminent film personalities. 
 
The award consists of a Swarn Kamal (Golden Lotus), a cash prize of Rs. 10 lakhs and a shawl. 
 
Born in 1938, Kapoor is a well-known actor and producer from the famous Kapoor family, generally regarded as the top dynasty in Hindi filmdom. He is the youngest son of the late Prithviraj Kapoor and the brother of late Raj Kapoor and late Shammi Kapoor, all renowned actors.
 
He is the third member of the family to get the honour after Prithviraj Kapoor in 1971 and Raj Kapoor in 1987.
 
The award was instituted by the Government to commemorate the contribution to the industry by Dadasaheb Phalke, generally regarded as the father of Indian cinema and the maker of India's first full-length feature film, Raja Harishchandra in 1913.
 
ADVERTISEMENT
The award was first presented in 1969, with the first recipient being actress Devika Rani.
 
Apart from Raj Kapoor and Shashi Kapoor, other siblings who have won the award are Bommireddy Narasimha Reddy (1974) and Bommireddy Nagi Reddy (1986); singers Lata Mangeshkar (1989) and Asha Bhosle (2000); and Baldev Raj Chopra (1998) and Yash Chopra (2001).
 
Kapoor started acting at the age of four in plays directed by his father, while travelling with Prithvi Theatres. He began acting in films as a child artiste in the late 1940s, including in Aag (1948) and Awaara (1951), in which he played the younger Raj Kapoor. He also worked as an assistant director in the 1950s.
 
Kapoor made his debut as a leading man in the 1961 film Dharmputra and went on to appear in more than 100 Hindi films. He was a very popular actor in Bollywood during the 1960s, '70s and until the mid-'80s. 
 
He had the distinction of being one of the first Indian actors to go international, having starred in many British and American films, notably Merchant Ivory Proudctions run by Ismail Merchant and James Ivory, such as The Householder (1963), Shakespearewallah (1965), Bombay Talkie (1970) and Heat and Dust (1982). He also starred in other British and American films such as Siddhartha (1972) and Muhafiz (1994). 
 
In 1978, Kapoor set up his production house Filmvalas which produced critically acclaimed films such as Junoon (1978), Kalyug (1981), 36 Chowringhee Lane (1981), Vijeta (1982) and Utsav (1984). He also produced and directed a fantasy film titled Ajooba which had Amitabh Bachchan and Rishi Kapoor in the lead roles. 
 
In 2011, Kapoor was honoured with the Padma Bhushan Award by the Government of India. He is also a recipient of three National Film Awards. 
 
NNN
 
ADVERTISEMENT
 

See News Videos

Two fire officers dead, eight people injured in Mumbai fire

 
Two fire officers killed in Mumbai fire
 
 
Two officers of the Mumbai Fire Brigade died and eight persons, including a Chief Fire Officer and his deputy, suffered burn injuries when a four-storyed building at Kalbadevi in South Mumbai caught fire and collapsed four hours later on Saturday evening.
 
The two officers were extricated from the debris and rushed to the GT Hospital where they were declared dead.
 
They were identified as S W Rane, station offier at the Indira Dock fire station and M M Desai, deputy fire officer at the Gowalia Tank fire station.
 
The fire broke out in the building, Gokul Nivas, located in a narrow, congested lane, around 4.15  pm and raged on for several hours due to the wood used in its construction as well as the fact that garments and chemicals were stored in many of the commercial establishments in it.
 
The structure, which was more than a hundred years old and was undergoing repairs, collapsed about four hours after the blaze started.
 
The fire brigade operations were constrained by the narrow lanes leading up to the building.
 
Fire Brigade sources said Chief Fire Officer Sunil Nesarikar had sufferd 49 percent burns and Deputy Chief Fire Officer Sudhir Amin 80 percent burns. They are undergoing treatment at the Airoli National Burns Institute.
 
The two officers who died and those who suffered injuries were inside the building when it collapsed.
 
Two families lived on the top floors of the building. One of the families was out of the city, while the other family of five managed to rush out as soon as the fire was noticed.
 
Late in the evening, personnel of the National Disaster Response Force (NDRF) also reached the spot.
 
The cause of the fire could not be immediately ascertained.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Rayudu, Pandya steer Mumbai Indians to six-wicket win over CSK

 
Ambati Rayudu and Hardik Pandya came up with belligerent knocks to help Mumbai Indians (MI) outplay Chennai Super Kings (CSK) by six wickets and score their fifth straight win in the Indian Premier League (IPL) at the M Chinnaswamy Stadium here tonight.
 
Opting to bat first, CSK found themselves restricted to 158 for five in their 20 overs, skipper Mahendra Singh Dhoni being their topscorer with an unbeaten 39. All their top batsmen got among the runs today, but only Pawan Negi (36) was the only other player who was able to cross into the 30s.
 
Chasing 159 for a win, MI got off to a strong start with openers Lendl Simmons (38) and Parthiv Patel (45) putting on 84 for the opening wicket in 10.1 overs. 
 
But CSK came back into the game, dismissing both the openers as well as Kieron Pollard (1) in the space of two overs to reduce the visitors to 86 for three at the end of 12 overs. 
 
Skipper Rohit Sharma (18) and Rayudu helped to stabilise the innings, adding 39 for the fourth wicket before the former well off the first ball of the 18th over.
 
At that stage, MI still needed 34 runs, but Rayudu (34 not out) and Pandya (21 not out) let loose a flurry of strokes as their side reached 159 for four with four balls to spare. 
 
Only four runs came off the 18th over, and MI needed 30 from the last two overs.
 
Pandya hit Negi for three sixes and Rayudu one as they made 25 runs from the 19th over and more or less settled the issue. In the last over, after the batsmen ran a single, Rayudu smashed Dwayne Bravo for a four and they were through. 
 
Mumbai Indians scored 63 in the last five overs, losing one wicket. In a match that saw several ups and downs and proved to be a virtual roller coaster ride, it was the visitors who managed to keep their nerves.
 
Rayudu's 34 not out came off 19 balls and included a four and three sies, while Pandya made his unbeaten 21 off just 8 balls with the help of three mighty sixes.
 
Earlier, CSK had got off to a good start with Dwayne Smith (27) and Brendon McCullum putting on 44 for the first wicket in 4.5 overs.
 
ADVERTISEMENT
Before soon, they were, however, struggling at 65 for three. Faf du Plessis (17) and Dhoni added 39 for the fourth wicket before the skipper and Negi came together in a 54-run patnership for the fifth wicket to take their side to a respectable score.
 
CSK, however, continue to be at the top of the table with seven wins and four losses from their 11 matches so far.
 
MI, who started out in the tournament with a series of losses, have got back into the top four and are placed fourth in the eight-team league now with six wins and five losses from 11 outings.
 
Rajasthan Royals and defending champions Kolkata Knight Riders are in the third and fourth places.
 
Scoreboard
Chennai Super Kings (20 overs maximum)
DR Smith c Pandya b Harbhajan Singh 27
BB McCullum c Pandya b Vinay Kumar 23
SK Raina c Pandya b Suchith 10
F du Plessis c Simmons b McClenaghan 17
MS Dhoni not out 39
P Negi run out (Patel) 36
Extras (w 6) 6
Total (5 wickets; 20 overs) 158
Did not bat: RA Jadeja, DJ Bravo, R Ashwin, MM Sharma, A Nehra
Fall of wickets: 1-44 (McCullum, 4.5 ov), 2-64 (Raina, 8.4 ov), 3-65 (Smith, 9.1 ov), 4-104 (du Plessis, 15.2 ov), 5-158 (Negi, 19.6 ov)
Bowling
MJ McClenaghan 4 0 34 1
M de Lange 4 1 30 0
J Suchith 4 0 21 1
R Vinay Kumar 3 0 33 1
Harbhajan Singh 4 0 36 1
HH Pandya 1 0 4 0
 
Mumbai Indians (target: 159 runs from 20 overs)
LMP Simmons c Smith b Ashwin 38
PA Patel c du Plessis b Ashwin 45
RG Sharma c Raina b Bravo 18
KA Pollard run out (Bravo) 1
AT Rayudu not out  34
HH Pandya not out  21
Extras (b 1, w 1) 2
Total (4 wickets; 19.2 overs) 159
Did not bat:Harbhajan Singh, J Suchith, R Vinay Kumar, MJ McClenaghan, M de Lange
Fall of wickets: 1-84 (Patel, 10.1 ov), 2-85 (Simmons, 10.4 ov), 3-86 (Pollard, 11.6 ov), 4-125 (Sharma, 17.1 ov)
Bowling
R Ashwin 4 0 17 2
MM Sharma 2 0 19 0
A Nehra 3 0 45 0
RA Jadeja 4 0 27 0
P Negi 4 0 34 0
DJ Bravo 2.2 0 16 1
 
NNN
ADVERTISEMENT
 

See News Videos

India’s forex reserves soar by $ 7.263 billion to record $ 351.868 billion

ADVERTISEMENT
India’s foreign exchange reserves soared by a massive $ 7.263 billion to a new high of $ 351.868 billion in the week ended May 1, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had increased by $ 1.404 billion to touch $ 344.605 billion in the previous week.
 
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 6.889 billion to $ 327.153 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect  of  appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves went up by $ 297.7 million to  $ 19.335 billion, while its special drawing rights increased by $ 57.6 million to $ 4.063 billion.
 
India's reserve position in the Indian Monetary Fund (IMF)rose by $ 18.7 millin to $ 1.317 billion, the bulletin added.
 
NNN
 
ADVERTISEMENT
 

See News Videos

Syndicate content
© Copyright 2012 NetIndian. All rights reserved. Republication or redistribution of NetIndian content, including by framing or similar means, is expressly prohibited without the prior written consent of NetIndian Media Corporation. Write to info[AT]netindian[DOT]in for permission to use content. Read detailed Terms of Use.