Hasmukh Adhia takes charge as Financial Services Secretary
Hasmukh Adhia on Friday took charge as the Secretary of the Department of Financial Services in the Ministry of Finance. Adhia, an IAS officer of 1981 batch from Gujarat cadre, succeeds G S Sandhu, who has been appointed as the Chairman of the National Authority for Chemical Weapons Convention.
Adhia was Additional Chief Secretary, Finance Department, Government of Gujarat. Prior to this, he was Principal Secretary Education Department from till January, 2013 and Principal Secretary to the then Chief Minister, Gujarat from May 2004 to May 2006.
Jet group Q2 loss narrows 96% to Rs43 cr
Jet Airways on Friday reported narrowing of consolidated loss by a whopping 95.7 per cent at Rs43 crore in the three months to September on the back of spurt in operational efficiency. The airline had reported a net loss of Rs999 crore in the same
quarter a year ago. However, on a standalone basis, Jet Airways flew back into profit with a net income of Rs69.82 crore against a net loss of Rs891 crore in the year-ago period.
DlF shares surge over 6%
Shares of DlF on Friday rose by over 6 per cent, adding Rs1,407 crore to its market valuation, after the Securities
Appellate Tribunal allowed the realty giant to redeem mutual funds worth Rs1,806 crore to meet working capital needs and service debt payments. After surging 6.59 per cent to Rs135 in intra-day trade, shares of DlF finally ended at Rs134.55, up 6.24 per cent at the BSE. At the NSE, the stock rose by 6.31 per cent to end at Rs134.75.
FTIl expands Board
Facing a Government-ordered merger of crisis hit NSEl with itself, Financial Technologies India (FTIl) on Friday announced spinning off a key revenue-generating trading software product into a separate subsidiary as part of a major restructuring exercise. FTIl, the holding company of Jignesh Shah-led group, said that its flagship software product, ODIN, is being spun out into a “separate subsidiary to attract majority strategic partner/investor”.