New Delhi, Jan 16 (PTI) Ahead of the Union Budget, industry body FICCI has requested the government to reduce the basic customs duty (BCD) on ferronickel to zero and levy a higher duty of 12.5 per cent on the import of stainless steel flat products.Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget [...]
New Delhi, Jan 16 (PTI) With plans afoot to locally assemble its all-electric sedan EQS in India, luxury carmaker Mercedes-Benz is looking to accelerate sales of electric vehicles in the country, according to a senior company official. Mercedes-Benz India plans to bring to the market the locally assembled EQS electric sedan in the fourth quarter [...]
New Delhi, Jan 16 (PTI) India's power consumption grew marginally at 1.5 per cent in the first fortnight of January to 49.34 billion units (BU) compared to the same period a year ago, showing the impact of local restrictions imposed by states amid the third wave of COVID-19. During January 1 to 14 in 2021, [...]
New Delhi, Jan 16 (PTI) India's overall macroeconomic situation is in a recovery mode but the growth is concentrated at the top end, which is a worrying trend, according to former World Bank Chief Economist Kaushik Basu. Amid the rising inflationary trends, including the sharp increase in retail inflation last month, Basu, who has also [...]
New Delhi, Jan 16 (PTI) State-owned Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million -- the second exit of an Indian firm from the US shale business in two months. "Oil India (USA) Inc (wholly owned subsidiary [...]
New Delhi, Jan 16 (PTI) The stock market's momentum will be guided by the ongoing quarterly earnings season, with Reliance Industries, HUL and Bajaj Finance among those scheduled to announce their results this week, analysts said. Focus would also remain on the COVID situation, global stock markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar [...]
New Delhi, Jan 16 (PTI) Jet fuel or ATF price on Sunday was hiked by 4.2 per cent - the second increase in rates this month warranted by firming international oil prices, but petrol and diesel prices remained unchanged for the 72nd day in a row. Aviation turbine fuel (ATF) price was hiked by Rs [...]
New Delhi, Jan 16 (PTI) Eight of the 10 most valued companies together added a whopping Rs 2,34,161.58 crore in market valuation last week, with RIL, Infosys and TCS emerging as the lead gainers. The 30-share BSE benchmark Sensex last week zoomed 1,478.38 points or 2.47 per cent. The market valuation of Reliance Industries Limited [...]
New Delhi, Jan 15 (PTI) RBL Bank has inducted NARCL Chairman Pradip Shah as an external expert to assist its search panel in finding a full-time MD and CEO, after the removal of Vishwavir Ahuja from the post last month. Global headhunting firm EgonZehnder has also been roped in for the exercise. Currently, Rajeev Ahuja [...]
Hyderabad, Jan 15 (PTI) Union Minister for Heavy Industries Mahendra Nath Pandey on Saturday dedicated India’s first BHEL-built 'coal to methanol' (CTM) pilot plant to the nation here, as part of the ongoing 'Azadi Ka Amrit Mahotsav' celebrations, an official release said. Pandey also inaugurated an exhibition on ‘Products Developed under Aatmanirbhar Bharat’ organised at [...]
