Business
Prudent financial management helps Reliance Jio reduce running costs
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Reliance Jio Infocomm Limited prepaid entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel Limited aggregating to Rs 30,791 crore (including accrued interest) in FY2021-22.
This was refinanced through a mix of INR Loans and Debentures. The Company expects that this prepayment will result in interest savings of about Rs 1,200 crore annually.
Reliance, a responsible organisation, leveraged its intellectual capital to contribute to the country’s fight against Covid-19.
Reliance’s scientists analysed more than 1,000 genomes of the virus.
The knowledge base was used to develop novel cost-effective diagnostic kits called ‘R-Green’ and ‘R-Green pro one’. These kits have received ICMR approval and showed a high degree of accuracy and specificity during validation studies.
Reliance has also collaborated with IIIM-CSIR (Jammu) to develop an RT-LAMP Kit to facilitate the point-of-care diagnosis of Covid-19.
The R&D team actively contributes to the company’s technical wisdom to facilitate innovation globally by publishing research articles on diagnostics and treatment. Application of natural-astaxanthin for COVID-19 management published in ‘Biomedicine and Pharmacotherapy’ journal is recognised as top 100 research paper. The paper is listed in WHO’s global repository.
PSA based oxygen concentrators can produce oxygen with 93 per cent (+- 3 per cent) purity. The unit is an excellent solution during hospitalisation situation due to Covid-19 to maintain the SpO2 level of a patient. Reliance R&D has designed oxygen generator with a purity of 90 per cent to 95 per cent with 5 LPM oxygen leveraging its expertise in adsorption technology.
Reliance collaborated with India’s CSIR-National Chemical Laboratory (CSIR-NCL) to recycle Covid-19 PPE waste. Useful products such as automotive components and flowerpots are being made from the recycled PPEs.
Reliance Industries Limited issued its Annual Report for FY22 on August 6. The company will be holding its Annual General Meeting on August 29.
Among other things, the RIL Annual Report mentioned about the progress made by all its business verticals viz. Retail, Digital Services, O2C and E&P, and spoke about RIL’s intentions in the Green Energy field.
Business
Mumbai: MahaRERA To Launch New ‘MahaCRITI’ Website On September 1, Existing Portal Offline For Migration On August 30-31
![Mumbai: MahaRERA To Launch New 'MahaCRITI' Website On September 1, Existing Portal Offline For Migration On August 30-31](https://mumbaipress.com/wp-content/uploads/2024/08/Untitled-1-64.jpg)
The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) new website ‘MahaCRITI’ will be launched on September 1 at 00.00 hours. To enable the migration to the new portal, the existing MahaRERA’s website will go offline on August 30 and 31.
During this transition period, the back-end team will perform various technical tasks to provide better user experience.
MahaRERA will also conduct classroom and virtual training for all real estate stakeholders to facilitate familiarity, easy navigation and user friendliness of MahaCRITI.
The training, that commenced on Thursday, will continue on August 30 and September 1 at MahaRERA’s head office situated in Bandra-Kurla Complex. The housing regulator has announced training schedule on the website. Videos on the training demo shall also be made available on MahaRERA’s portal.
The stakeholders are encouraged to participate in these sessions for a hands-on experience with the new system.
The training’s second phase will be available for two weeks after the website goes live on September 1. The training module will also guide the complainants as well as lawyers on complaint registration and its further process.
Developers, promoters and their self-regulatory bodies will be guided on how to use the website effectively for routine tasks such as registration of new housing projects, corrections, extensions as per requirement, quarterly progress reports, annual progress reports and project completion Form 4.
Business
2025 Yamaha YZF-R15 Launches Globally with Exciting New Features and Color Choices
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Yamaha has launched an updated version of its YZF-R15 in Indonesia, enhancing its entry-level sports bike with new features and a fresh look. The updated model now offers smartphone connectivity, similar to the version available in India. It also introduces a striking-black color option, along with grey/silver/, grey/black, and blue. Despite these upgrades in features and appearance, the bike maintains its original mechanical design, ensuring reliability while appealing to new and existing riders.
The 2025 Yamaha YZF-R15 for the Indonesian market maintains its familiar 155cc single-cylinder engine with VVT, producing 18.1 bhp and 14.2 Nm of torque, and is paired with six-speed transmission. It features a monoshock rear suspension and inverted telescopic front forks, along with dual-channel ABS and disc brakes on both wheels. While it lacks the traction control found on the Indian model, it retains its Deltabox frame, an 11-liter fuel tank, and a total weight of 141 kg, all supported by 17-inch alloy wheels.
The 2025 Yamaha YZF-R15 comes equipped with a range of advanced features, including dual-channel ABS, traction control, a slipper clutch, and a quick shifter. It also features a fully digital instrument cluster that provides not only essential ride information but also ride tracking, onboard diagnostics, and periodic maintenance reminders, enhancing the overall riding experience.
India Yamaha Motor has marked a notable milestone in its manufacturing history with the success of the Yamaha Ray ZR 125 Fi-Hybrid in Europe. This scooter, produced in India, has gained considerable traction across several European nations. From January to July this year, approximately 13,400 units of the Ray ZR 125 Fi Hybrid were sold across 27 European countries.
Consumers have responded positively to the Yamaha Ray ZR 125 Fi Hybrid, appreciating its well-rounded design and features. The scooter has received a positive response across major European markets such as the UK, Spain, France, Italy, Germany, Turkey, Switzerland, Greece, and Portugal.
Business
Markets Continue To Trade In Red; Sensex & Nifty Decline Further
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The Indian markets opened flat on Monday, with Sensex at 79,571.37, down by 77.55 points or 0.10 per cent, and Nifty at 24,320.50, also down by 26.50 points or 0.11 per cent.
Nifty Bank in the morning session was trading low at 50,483.90, down by 94.05 points or 0.19 per cent.
From the Sensex pack, ICICI Bank, NTPC and Kotak Bank were among the major gainers in the morning session, whereas HDFC Bank, Asian Paints and Titans were among the laggards.
From the Nifty tranche, Apollo Hospital, ICICI Bank and Axis Bank were among the gainers, while Shriram Finance, BPCL and Tata Motors were among the losers.
The Indian rupee opened at 83.96 against the dollar.
Markets on Monday
The stock markets ended Friday on a lower note for both the BSE Sensex and the NSE Nifty.
On Monday, August 12, the BSE Sensex decreased by 25.46 points or 0.03 per cent, ending the day at 79,680.45. Similarly, the NSE Nifty dropped by 20.50 points or 0.08 per cent to close at 24,347.00.
Gainers and Losers
Gainers: On the BSE tranche, at the time of writing, major gainers included Axis Bank, JSW Steel and Infosys with gains of over 1 per cent. Voltas made mammoth gains of 10.40 per cent.
Losers: Amongst the losers, NTPC, Power Grid and Adani Ports made gains of over 1 per cent.
Energy and International Markets
U.S. West Texas Intermediate crude (WTI) decreased by 0.90 per cent to USD 79.34 a barrel at 09:08 IST. Brent crude prices also decreased by 0.92 per cent to USD 81.54 a barrel at 09:08 IST.
On Monday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, meanwhile, Dow Jones Industrial Average also saw a drop its value.
The S&P 500 closed at 5,344.39, gaining 0.0043 per cent. The Dow Jones Industrial Average ended at 39,357.01, gaining 0.36 per cent.
Additionally, the Nasdaq Composite saw a rise of 0.21 per cent to reach 16,780.61.
The Asian indices started in Green, while Japan’s Nikkei 225 index gained 2.17 per cent to reach 35,785.55, at the opening of the day’s trade. Hong Kong’s Hang Seng index rose by 0.23 per cent to reach 17,150.75 points. South Korea’s KOSPI observed a drop in its numbers, as it decreased by 0.048 per cent to reach 2,617.05.
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