Connect with us
Monday,01-March-2021

Business

Goa CM Vijai Sardesai asks Election Commission to relax alcohol sale deadline

Published

on

vijay-goa-cm

 In a letter to the Election Commission (EC), Goa’s Deputy Chief Minister Vijai Sardesai on Friday sought a relaxation in the 11 p.m. deadline for the sale of alcohol in Goa’s bars and clubs, saying the measure would have an adverse impact on the state’s tourism-driven economy.

Sardesai also urged the EC to relax noise pollution norms to facilitate unhindered observance of religious activities during Lent and Easter vigil services observed by Catholic Christians, who account for more than a quarter of the state’s population.

“Imposing such restrictions on an industry, which is already badly hit and which is the mainstay of the state economy, will cause irreparable damage to the economy as a whole,” Sardesai said in his letter, seeking extension of the 11 p.m. deadline for serving alcohol in establishments which are licenced to operate till the early morning hours.

“These apprehensions of the people of Goa have already been discussed with the Chief Electoral Officer (CEO), Goa and as such we seek your intervention in the matter so as to give relief to the stakeholders of the industry,” he added.

Seeking relaxation of the 10 p.m. deadline for playing loud music during festivals, Sardesai said Catholics must be allowed to observe vigil services without being stopped by flying squads under the CEO.

Lent is the 40-day period beginning Ash Wednesday and ending Easter Sunday (April 21), during which Catholics observe fast, repentance and moderation for spiritual renewal.

Business

Petrol and diesel prices remain unchanged on Monday

Published

on

Petrol

The rise in the petrol and diesel price has paused for the last couple of days as oil marketing companies have decided to wait and watch the developments on the global oil market before finalising their India retail strategy.

Accordingly, oil marketing companies kept the pump price of petrol and diesel unchanged on Monday. With this, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the national capital.

Across the country as well the petrol and diesel prices remain unchanged.

Sources in OMCs said that price pause on Monday followed subdued movement in product price in global markets. The crude oil, which has been on fire for the last couple of weeks has also shown some downward movement lately but staying above $65 a barrel now.

Petrol and diesel prices have been rising continuously since February 9. In the 14 increases since then, prices have gone up by Rs 4.22 per litre for petrol while diesel rate has risen by Rs 4.34 a litre in Delhi.

The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.

In Mumbai, petrol price is just Rs 2.4 per litre short (Rs 97.57 a litre) of touching the three digit mark of Rs 100 per litre for the very first time ever. Diesel price in the city is closing on Rs 90 a litre (Rs 88.60 a litre).

In all other metros, petrol is over Rs 90 a litre-mark while diesel is well over Rs 80 a litre. Premium petrol has crossed Rs 100 per litre-mark in several cities of Rajasthan, Madhya Pradesh and Maharashtra a few days back.

Since fuel prices are benchmarked to a 15-day rolling average of global refined products’ prices and dollar exchange rate, pump prices can be expected to remain northbound over the next few days even if crude price stabilises.

The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

Oil companies’ executives said that petrol and diesel prices may increase further in coming days as retail rates may have to be balanced in line with global developments to prevent OMCs from making losses on sale of auto fuels.

Continue Reading

Business

Hyundai Motor India’s overall February sales over 26%

Published

on

Hyundai-Motor-showroom

Hyundai Motor India on Monday reported a growth of 26.4 per cent in its overall sales including exports during February.

The company’s overall sales grew to 61,800 units from 48,910 units sold during February 2020.

Similarly, the company’s domestic sales rose during the month under review.

It edged higher by 29 per cent to 51,600 units from 40,010 units sold during the corresponding month of the previous year.

Similarly, exports increased and it rose by 14.6 per cent to 10,200 units from 8,900 units shipped out during February 2020.

Continue Reading

Business

Manappuram Finance board mulls debt securities

Published

on

Manappuram-Finance-board

Manappuram Finance on Monday said that its Board of Directors is likely to consider and approved the issuances of debt securities this month.

In a regulatory filing, the company said that it is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore or offshore securities market by public issue, on private placement basis or through issuing commercial papers.

“Based on the prevailing market conditions, the Board of Directors and / or Financial Resources and Management Committee / Debenture Committee of the Board of Directors of the company may consider and approve issuances of debt securities during the month of March, 2021, subject to such terms and conditions including the issue price of debt securities, as the Board / respective Committee may deem fit,” it said.

Around 1.15 p.m., its shares on the BSE were trading at Rs 173.50, lower by Rs 2.70 or 1.53 per cent from its previous close.

Continue Reading
Advertisement
Advertisement

Trending